USAUX vs. USNQX

Last updated Jun 6, 2026

USAUX (USAA Aggressive Growth Fund) and USNQX (USAA Nasdaq 100 Index Fund) are both mutual funds - USAUX is a Large Cap Growth Equities fund managed by Victory, while USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 10 years, USAUX returned 15.86%/yr vs 21.54%/yr for USNQX. Their correlation of 0.91 suggests significant overlap in exposure. USAUX charges 0.63%/yr vs 0.42%/yr for USNQX.

Performance

USAUX vs. USNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Aggressive Growth Fund (USAUX) and USAA Nasdaq 100 Index Fund (USNQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAUX achieves a 8.05% return, which is significantly lower than USNQX's 20.57% return. Over the past 10 years, USAUX has underperformed USNQX with an annualized return of 15.86%, while USNQX has yielded a comparatively higher 21.54% annualized return.

USAUX

• 1D: -0.04%
• 1M: 3.38%
• YTD: 8.05%
• 6M: 5.70%
• 1Y: 22.46%
• 3Y*: 25.30%
• 5Y*: 12.73%
• 10Y*: 15.86%

USNQX

• 1D: -0.52%
• 1M: 6.39%
• YTD: 20.57%
• 6M: 18.43%
• 1Y: 41.48%
• 3Y*: 28.29%
• 5Y*: 17.55%
• 10Y*: 21.54%

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

USAUX vs. USNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USAUX USAA Aggressive Growth Fund	8.05%	16.98%	33.63%	48.36%	-35.30%	16.68%	41.82%	23.23%	-0.75%	30.12%
USNQX USAA Nasdaq 100 Index Fund	20.57%	20.52%	25.42%	54.46%	-32.71%	26.82%	48.31%	38.86%	-0.43%	32.30%

Correlation

The correlation between USAUX and USNQX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 30, 2000	0.91

The correlation between USAUX and USNQX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

USAUX vs. USNQX — Risk / Return Rank

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

USAUX

USAUX Risk / Return Rank: 20
USAUX Sharpe Ratio Rank: 24
USAUX Sortino Ratio Rank: 22
USAUX Omega Ratio Rank: 23
USAUX Calmar Ratio Rank: 16
USAUX Martin Ratio Rank: 16

USNQX

USNQX Risk / Return Rank: 71
USNQX Sharpe Ratio Rank: 78
USNQX Sortino Ratio Rank: 67
USNQX Omega Ratio Rank: 65
USNQX Calmar Ratio Rank: 78
USNQX Martin Ratio Rank: 69

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.

USAUX vs. USNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Aggressive Growth Fund (USAUX) and USAA Nasdaq 100 Index Fund (USNQX). 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.

	USAUX	USNQX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.52	-1.16
Sortino ratio: Return per unit of downside risk	1.90	3.31	-1.42
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.19
Calmar ratio: Return relative to maximum drawdown	1.30	3.36	-2.06
Martin ratio: Return relative to average drawdown	4.17	12.85	-8.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAUX vs. USNQX - Sharpe Ratio Comparison

The current USAUX Sharpe Ratio is 1.36, which is lower than the USNQX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of USAUX and USNQX, 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

	USAUX	USNQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	2.52	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.77	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.95	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.37	+0.07

Drawdowns

USAUX vs. USNQX - Drawdown Comparison

The maximum USAUX drawdown since its inception was -76.19%, roughly equal to the maximum USNQX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for USAUX and USNQX.

Drawdown Indicators

	USAUX	USNQX	Difference
Max Drawdown Largest peak-to-trough decline	-76.19%	-76.24%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-17.09%	-12.07%	-5.02%
Max Drawdown (3Y) Largest decline over 3 years	-25.97%	-22.88%	-3.09%
Max Drawdown (5Y) Largest decline over 5 years	-43.84%	-36.95%	-6.89%
Max Drawdown (10Y) Largest decline over 10 years	-43.84%	-36.95%	-6.89%
Current Drawdown Current decline from peak	-1.86%	-0.80%	-1.06%
Average Drawdown Average peak-to-trough decline	-26.71%	-26.75%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.31%	3.15%	+2.16%

Volatility

USAUX vs. USNQX - Volatility Comparison

The current volatility for USAA Aggressive Growth Fund (USAUX) is 3.93%, while USAA Nasdaq 100 Index Fund (USNQX) has a volatility of 4.54%. This indicates that USAUX experiences smaller price fluctuations and is considered to be less risky than USNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAUX	USNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	4.54%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	12.28%	12.19%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	16.09%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.41%	22.88%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.85%	22.65%	+0.20%

USAUX vs. USNQX - Expense Ratio Comparison

USAUX has a 0.63% expense ratio, which is higher than USNQX's 0.42% expense ratio.

Dividends

USAUX vs. USNQX - Dividend Comparison

USAUX's dividend yield for the trailing twelve months is around 4.10%, more than USNQX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USAUX USAA Aggressive Growth Fund	4.10%	4.43%	5.15%	0.00%	2.37%	11.36%	0.18%	20.25%	18.58%	9.19%	7.42%	6.80%
USNQX USAA Nasdaq 100 Index Fund	2.50%	3.01%	2.19%	2.60%	4.13%	4.48%	1.53%	0.88%	0.69%	1.97%	0.50%	2.73%

Frequently Asked Questions

Can I hold both USAUX and USNQX in my portfolio?

With a correlation of 0.93, USAUX and USNQX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, USAUX or USNQX?

USNQX has higher volatility (4.54%) compared to USAUX (3.93%). In terms of maximum drawdown, USAUX dropped -76.19% vs USNQX's -76.24%.

Which has better risk-adjusted returns?

USNQX currently has the higher Sharpe Ratio (2.52 vs 1.36), 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.