USAGX vs. URFRX

Last updated Jun 5, 2026

USAGX (USAA Precious Metals and Minerals Fund) and URFRX (USAA Target Retirement 2040 Fund) are both mutual funds - USAGX is a Precious Metals fund managed by Victory, while URFRX is a Target Retirement Date fund managed by Victory. Over the past 10 years, USAGX returned 12.98%/yr vs 9.43%/yr for URFRX. At a 0.36 correlation, their price movements are largely independent. USAGX charges 1.12%/yr vs 0.02%/yr for URFRX.

Performance

USAGX vs. URFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Precious Metals and Minerals Fund (USAGX) and USAA Target Retirement 2040 Fund (URFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAGX achieves a -1.56% return, which is significantly lower than URFRX's 10.27% return. Over the past 10 years, USAGX has outperformed URFRX with an annualized return of 12.98%, while URFRX has yielded a comparatively lower 9.43% annualized return.

USAGX

• 1D: -2.39%
• 1M: -0.73%
• YTD: -1.56%
• 6M: 4.39%
• 1Y: 57.01%
• 3Y*: 39.62%
• 5Y*: 17.43%
• 10Y*: 12.98%

URFRX

• 1D: -0.57%
• 1M: 3.02%
• YTD: 10.27%
• 6M: 10.83%
• 1Y: 22.11%
• 3Y*: 16.06%
• 5Y*: 8.14%
• 10Y*: 9.43%

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

USAGX vs. URFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USAGX USAA Precious Metals and Minerals Fund	-1.56%	156.06%	10.76%	6.73%	-11.80%	-10.14%	25.85%	42.97%	-12.26%	9.65%
URFRX USAA Target Retirement 2040 Fund	10.27%	17.49%	10.37%	16.75%	-14.86%	15.88%	9.22%	19.57%	-8.52%	18.48%

Correlation

The correlation between USAGX and URFRX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 5, 2008	0.36

The correlation between USAGX and URFRX shifts across timeframes, from 0.31 (10 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

USAGX vs. URFRX — Risk / Return Rank

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

USAGX

USAGX Risk / Return Rank: 22
USAGX Sharpe Ratio Rank: 22
USAGX Sortino Ratio Rank: 18
USAGX Omega Ratio Rank: 23
USAGX Calmar Ratio Rank: 27
USAGX Martin Ratio Rank: 19

URFRX

URFRX Risk / Return Rank: 69
URFRX Sharpe Ratio Rank: 67
URFRX Sortino Ratio Rank: 66
URFRX Omega Ratio Rank: 64
URFRX Calmar Ratio Rank: 72
URFRX 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.

USAGX vs. URFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Precious Metals and Minerals Fund (USAGX) and USAA Target Retirement 2040 Fund (URFRX). 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.

	USAGX	URFRX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	2.38	-1.04
Sortino ratio: Return per unit of downside risk	1.76	3.40	-1.64
Omega ratio: Gain probability vs. loss probability	1.25	1.44	-0.19
Calmar ratio: Return relative to maximum drawdown	1.91	3.27	-1.36
Martin ratio: Return relative to average drawdown	4.90	14.33	-9.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAGX vs. URFRX - Sharpe Ratio Comparison

The current USAGX Sharpe Ratio is 1.35, which is lower than the URFRX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of USAGX and URFRX, 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

	USAGX	URFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	2.38	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.66	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.72	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.52	-0.34

Drawdowns

USAGX vs. URFRX - Drawdown Comparison

The maximum USAGX drawdown since its inception was -80.89%, which is greater than URFRX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for USAGX and URFRX.

Drawdown Indicators

	USAGX	URFRX	Difference
Max Drawdown Largest peak-to-trough decline	-80.89%	-39.33%	-41.56%
Max Drawdown (1Y) Largest decline over 1 year	-30.12%	-6.88%	-23.24%
Max Drawdown (3Y) Largest decline over 3 years	-30.12%	-12.41%	-17.71%
Max Drawdown (5Y) Largest decline over 5 years	-45.72%	-22.27%	-23.45%
Max Drawdown (10Y) Largest decline over 10 years	-51.03%	-28.59%	-22.44%
Current Drawdown Current decline from peak	-26.33%	-0.57%	-25.76%
Average Drawdown Average peak-to-trough decline	-43.08%	-5.19%	-37.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.72%	1.57%	+10.15%

Volatility

USAGX vs. URFRX - Volatility Comparison

USAA Precious Metals and Minerals Fund (USAGX) has a higher volatility of 14.31% compared to USAA Target Retirement 2040 Fund (URFRX) at 3.06%. This indicates that USAGX's price experiences larger fluctuations and is considered to be riskier than URFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAGX	URFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.31%	3.06%	+11.25%
Volatility (6M) Calculated over the trailing 6-month period	35.35%	7.57%	+27.78%
Volatility (1Y) Calculated over the trailing 1-year period	42.70%	9.43%	+33.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.86%	12.33%	+20.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.68%	13.08%	+19.60%

USAGX vs. URFRX - Expense Ratio Comparison

USAGX has a 1.12% expense ratio, which is higher than URFRX's 0.02% expense ratio.

Dividends

USAGX vs. URFRX - Dividend Comparison

USAGX's dividend yield for the trailing twelve months is around 0.24%, less than URFRX's 6.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
URFRX USAA Target Retirement 2040 Fund	6.39%	7.05%	2.78%	3.94%	10.68%	7.78%	5.49%	12.74%	9.99%	6.53%	3.95%	2.55%
USAGX USAA Precious Metals and Minerals Fund	0.24%	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

Can I hold both USAGX and URFRX in my portfolio?

USAGX and URFRX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USAGX or URFRX?

USAGX has higher volatility (14.31%) compared to URFRX (3.06%). In terms of maximum drawdown, USAGX dropped -80.89% vs URFRX's -39.33%.

Which has better risk-adjusted returns?

URFRX currently has the higher Sharpe Ratio (2.38 vs 1.35), 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.