USAAX vs. BGRWX

Last updated Jun 4, 2026

USAAX (USAA Growth Fund) and BGRWX (Barrett Growth Fund) are both Large Cap Growth Equities funds. Over the past 10 years, USAAX returned 15.66%/yr vs 13.69%/yr for BGRWX. Their correlation of 0.93 suggests significant overlap in exposure. USAAX charges 0.84%/yr vs 1.25%/yr for BGRWX.

Performance

USAAX vs. BGRWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Growth Fund (USAAX) and Barrett Growth Fund (BGRWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAAX achieves a 4.85% return, which is significantly higher than BGRWX's -0.14% return. Over the past 10 years, USAAX has outperformed BGRWX with an annualized return of 15.66%, while BGRWX has yielded a comparatively lower 13.69% annualized return.

USAAX

• 1D: -1.11%
• 1M: 4.90%
• YTD: 4.85%
• 6M: 4.89%
• 1Y: 20.40%
• 3Y*: 22.97%
• 5Y*: 12.72%
• 10Y*: 15.66%

BGRWX

• 1D: -0.47%
• 1M: 2.18%
• YTD: -0.14%
• 6M: -0.56%
• 1Y: 10.19%
• 3Y*: 16.68%
• 5Y*: 9.74%
• 10Y*: 13.69%

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

USAAX vs. BGRWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USAAX USAA Growth Fund	4.85%	16.68%	32.82%	48.39%	-32.49%	16.97%	37.07%	27.62%	-4.33%	28.44%
BGRWX Barrett Growth Fund	-0.14%	8.11%	28.38%	32.94%	-24.83%	21.22%	28.96%	31.99%	-0.46%	21.00%

Correlation

The correlation between USAAX and BGRWX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 30, 1998	0.93

The correlation between USAAX and BGRWX shifts across timeframes, from 0.82 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USAAX vs. BGRWX — Risk / Return Rank

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

USAAX

USAAX Risk / Return Rank: 18
USAAX Sharpe Ratio Rank: 22
USAAX Sortino Ratio Rank: 20
USAAX Omega Ratio Rank: 20
USAAX Calmar Ratio Rank: 13
USAAX Martin Ratio Rank: 14

BGRWX

BGRWX Risk / Return Rank: 10
BGRWX Sharpe Ratio Rank: 12
BGRWX Sortino Ratio Rank: 11
BGRWX Omega Ratio Rank: 11
BGRWX Calmar Ratio Rank: 7
BGRWX Martin Ratio Rank: 8

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.

USAAX vs. BGRWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Growth Fund (USAAX) and Barrett Growth Fund (BGRWX). 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.

	USAAX	BGRWX	Difference
Sharpe ratio Return per unit of total volatility	1.34	0.90	+0.45
Sortino ratio Return per unit of downside risk	1.88	1.29	+0.58
Omega ratio Gain probability vs. loss probability	1.24	1.16	+0.08
Calmar ratio Return relative to maximum drawdown	1.24	0.72	+0.52
Martin ratio Return relative to average drawdown	4.14	2.42	+1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAAX vs. BGRWX - Sharpe Ratio Comparison

The current USAAX Sharpe Ratio is 1.34, which is higher than the BGRWX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of USAAX and BGRWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USAAX	BGRWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	0.90	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.52	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.73	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.35	+0.16

Drawdowns

USAAX vs. BGRWX - Drawdown Comparison

The maximum USAAX drawdown since its inception was -66.79%, which is greater than BGRWX's maximum drawdown of -56.87%. Use the drawdown chart below to compare losses from any high point for USAAX and BGRWX.

Drawdown Indicators

	USAAX	BGRWX	Difference
Max Drawdown Largest peak-to-trough decline	-66.79%	-56.87%	-9.92%
Max Drawdown (1Y) Largest decline over 1 year	-16.92%	-14.80%	-2.12%
Max Drawdown (3Y) Largest decline over 3 years	-29.85%	-25.54%	-4.31%
Max Drawdown (5Y) Largest decline over 5 years	-41.75%	-29.69%	-12.06%
Max Drawdown (10Y) Largest decline over 10 years	-41.75%	-29.69%	-12.06%
Current Drawdown Current decline from peak	-1.11%	-5.20%	+4.09%
Average Drawdown Average peak-to-trough decline	-18.82%	-17.95%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.08%	4.40%	+0.68%

Volatility

USAAX vs. BGRWX - Volatility Comparison

USAA Growth Fund (USAAX) has a higher volatility of 3.68% compared to Barrett Growth Fund (BGRWX) at 2.44%. This indicates that USAAX's price experiences larger fluctuations and is considered to be riskier than BGRWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAAX	BGRWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.44%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	9.26%	+2.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.69%	11.89%	+3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.99%	18.70%	+5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.10%	18.81%	+3.29%

USAAX vs. BGRWX - Expense Ratio Comparison

USAAX has a 0.84% expense ratio, which is lower than BGRWX's 1.25% expense ratio.

Dividends

USAAX vs. BGRWX - Dividend Comparison

USAAX's dividend yield for the trailing twelve months is around 10.13%, less than BGRWX's 11.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGRWX Barrett Growth Fund	11.80%	11.78%	10.42%	3.01%	22.03%	11.98%	6.78%	2.43%	3.49%	4.79%	0.00%	0.15%
USAAX USAA Growth Fund	10.13%	10.62%	10.47%	6.54%	6.98%	10.34%	4.33%	26.15%	13.67%	2.47%	5.27%	6.92%

Frequently Asked Questions

Can I hold both USAAX and BGRWX in my portfolio?

USAAX and BGRWX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USAAX or BGRWX?

USAAX has higher volatility (3.68%) compared to BGRWX (2.44%). In terms of maximum drawdown, USAAX dropped -66.79% vs BGRWX's -56.87%.

Which has better risk-adjusted returns?

USAAX currently has the higher Sharpe Ratio (1.34 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.