USAGX vs. MAFRX
USAGX (USAA Precious Metals and Minerals Fund) and MAFRX (Victory Pioneer Multi-Asset Ultrashort Income Fund Class A) are both mutual funds - USAGX is a Precious Metals fund managed by Victory, while MAFRX is a Ultrashort Bond fund actively managed by Victory. Over the past 10 years, USAGX returned 9.82%/yr vs 2.61%/yr for MAFRX. Their 0.04 correlation means their historical movements had little consistent relationship. USAGX charges 1.12%/yr vs 0.58%/yr for MAFRX.
Performance
USAGX vs. MAFRX - Performance Comparison
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Returns By Period
In the year-to-date period, USAGX achieves a -10.35% return, which is significantly lower than MAFRX's 1.69% return. Over the past 10 years, USAGX has outperformed MAFRX with an annualized return of 9.82%, while MAFRX has yielded a comparatively lower 2.61% annualized return.
USAGX
- 1D
- 3.50%
- 1M
- -1.33%
- 6M
- -17.87%
- YTD
- -10.35%
- 1Y
- 47.47%
- 3Y*
- 36.25%
- 5Y*
- 17.54%
- 10Y*
- 9.82%
- ALL TIME*
- 5.65%
MAFRX
- 1D
- 0.00%
- 1M
- -0.21%
- 6M
- 1.30%
- YTD
- 1.69%
- 1Y
- 3.39%
- 3Y*
- 4.70%
- 5Y*
- 3.66%
- 10Y*
- 2.61%
- ALL TIME*
- 2.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
USAGX vs. MAFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USAGX USAA Precious Metals and Minerals Fund | -10.35% | 156.06% | 10.76% | 6.73% | -11.80% | -10.14% | 25.85% | 42.97% | -12.26% | 9.65% |
MAFRX Victory Pioneer Multi-Asset Ultrashort Income Fund Class A | 1.69% | 4.64% | 5.96% | 5.84% | 0.14% | 1.42% | -0.86% | 3.30% | 1.66% | 1.57% |
Correlation
The correlation between USAGX and MAFRX is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2011 | 0.04 |
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Return for Risk
USAGX vs. MAFRX — Risk / Return Rank
USAGX
MAFRX
USAGX vs. MAFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Precious Metals and Minerals Fund (USAGX) and Victory Pioneer Multi-Asset Ultrashort Income Fund Class A (MAFRX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USAGX | MAFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -8.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 3.58 | -2.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 18.36 | -17.06 |
| Martin ratioReturn relative to average drawdown | 2.85 | 50.22 | -47.37 |
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Drawdowns
USAGX vs. MAFRX - Drawdown Comparison
The maximum USAGX drawdown since its inception was -80.89%, which is greater than MAFRX's maximum drawdown of -10.18%. Use the drawdown chart below to compare losses from any high point for USAGX and MAFRX.
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Drawdown Indicators
| USAGX | MAFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.89% | -10.18% | -70.71% |
Max Drawdown (1Y)Largest decline over 1 year | -38.32% | -0.21% | -38.11% |
Max Drawdown (3Y)Largest decline over 3 years | -38.32% | -0.52% | -37.80% |
Max Drawdown (5Y)Largest decline over 5 years | -45.72% | -1.59% | -44.13% |
Max Drawdown (10Y)Largest decline over 10 years | -51.03% | -10.18% | -40.85% |
Current DrawdownCurrent decline from peak | -32.91% | -0.21% | -32.70% |
Average DrawdownAverage peak-to-trough decline | -43.03% | -0.29% | -42.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.44% | 0.08% | +17.36% |
Volatility
USAGX vs. MAFRX - Volatility Comparison
USAA Precious Metals and Minerals Fund (USAGX) has a higher volatility of 11.59% compared to Victory Pioneer Multi-Asset Ultrashort Income Fund Class A (MAFRX) at 0.14%. This indicates that USAGX's price experiences larger fluctuations and is considered to be riskier than MAFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USAGX | MAFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 0.14% | +11.45% |
Volatility (6M)Calculated over the trailing 6-month period | 37.94% | 0.91% | +37.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.63% | 1.36% | +44.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.70% | 1.46% | +32.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.92% | 1.76% | +31.16% |
USAGX vs. MAFRX - Expense Ratio Comparison
USAGX has a 1.12% expense ratio, which is higher than MAFRX's 0.58% expense ratio.
Dividends
USAGX vs. MAFRX - Dividend Comparison
USAGX's dividend yield for the trailing twelve months is around 0.27%, less than MAFRX's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAFRX Victory Pioneer Multi-Asset Ultrashort Income Fund Class A | 4.07% | 4.84% | 5.47% | 4.18% | 2.24% | 1.20% | 1.78% | 2.84% | 2.47% | 1.76% | 1.64% | 1.22% |
USAGX USAA Precious Metals and Minerals Fund | 0.27% | 0.24% | 0.00% | 2.45% | 0.95% | 0.84% | 0.04% | 0.00% | 0.00% | 0.00% | 4.20% | 0.00% |
Frequently Asked Questions
USAGX and MAFRX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USAGX has higher volatility (11.59%) compared to MAFRX (0.14%). In terms of maximum drawdown, USAGX dropped -80.89% vs MAFRX's -10.18%.
MAFRX currently has the higher Sharpe Ratio (2.81 vs 1.09), 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.
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