URFRX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about USAA Target Retirement 2040 Fund (URFRX) and S&P 500 Index (^GSPC).

URFRX is managed by Victory. It was launched on Jul 30, 2008.

Performance

URFRX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Target Retirement 2040 Fund (URFRX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

URFRX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URFRX USAA Target Retirement 2040 Fund	0.14%	17.49%	10.37%	16.75%	-14.86%	15.88%	9.22%	19.57%	-8.52%	18.48%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, URFRX achieves a 0.14% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, URFRX has underperformed ^GSPC with an annualized return of 8.66%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

URFRX

• 1D: 2.15%
• 1M: -4.30%
• YTD: 0.14%
• 6M: 2.40%
• 1Y: 16.93%
• 3Y*: 13.05%
• 5Y*: 7.15%
• 10Y*: 8.66%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

URFRX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

URFRX

URFRX Risk / Return Rank: 79
URFRX Sharpe Ratio Rank: 77
URFRX Sortino Ratio Rank: 78
URFRX Omega Ratio Rank: 77
URFRX Calmar Ratio Rank: 78
URFRX Martin Ratio Rank: 86

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

URFRX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Target Retirement 2040 Fund (URFRX) and S&P 500 Index (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	URFRX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.44	0.92	+0.52
Sortino ratio Return per unit of downside risk	2.06	1.41	+0.64
Omega ratio Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio Return relative to maximum drawdown	1.95	1.41	+0.54
Martin ratio Return relative to average drawdown	9.28	6.61	+2.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URFRX vs. ^GSPC - Sharpe Ratio Comparison

The current URFRX Sharpe Ratio is 1.44, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of URFRX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	URFRX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	0.92	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.61	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.68	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.46	+0.03

Correlation

The correlation between URFRX and ^GSPC is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

URFRX vs. ^GSPC - Drawdown Comparison

The maximum URFRX drawdown since its inception was -39.33%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for URFRX and ^GSPC.

Drawdown Indicators

	URFRX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-56.78%	+17.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-12.14%	+3.28%
Max Drawdown (5Y) Largest decline over 5 years	-22.27%	-25.43%	+3.16%
Max Drawdown (10Y) Largest decline over 10 years	-28.59%	-33.92%	+5.33%
Current Drawdown Current decline from peak	-4.88%	-5.78%	+0.90%
Average Drawdown Average peak-to-trough decline	-5.23%	-10.75%	+5.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.60%	-0.74%

Volatility

URFRX vs. ^GSPC - Volatility Comparison

The current volatility for USAA Target Retirement 2040 Fund (URFRX) is 4.59%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that URFRX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URFRX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	5.37%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	9.55%	-2.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.07%	18.33%	-6.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.31%	16.90%	-4.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.04%	18.05%	-5.01%