USBLX vs. VEIPX

Last updated Jun 24, 2026

USBLX (USAA Growth and Tax Strategy Fund) and VEIPX (Vanguard Equity Income Fund Investor Shares) are both mutual funds - USBLX is a Diversified Portfolio fund managed by Victory, while VEIPX is a Large Cap Value Equities fund actively managed by Vanguard. Over the past 10 years, USBLX returned 8.28%/yr vs 11.92%/yr for VEIPX. Their correlation of 0.84 suggests significant overlap in exposure. USBLX charges 0.58%/yr vs 0.28%/yr for VEIPX.

Performance

USBLX vs. VEIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Growth and Tax Strategy Fund (USBLX) and Vanguard Equity Income Fund Investor Shares (VEIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USBLX achieves a 6.19% return, which is significantly lower than VEIPX's 8.13% return. Over the past 10 years, USBLX has underperformed VEIPX with an annualized return of 8.28%, while VEIPX has yielded a comparatively higher 11.92% annualized return.

USBLX

• 1D: -0.19%
• 1M: 1.14%
• YTD: 6.19%
• 6M: 5.77%
• 1Y: 16.14%
• 3Y*: 12.42%
• 5Y*: 6.70%
• 10Y*: 8.28%

VEIPX

• 1D: -0.17%
• 1M: -0.40%
• YTD: 8.13%
• 6M: 7.52%
• 1Y: 20.32%
• 3Y*: 16.81%
• 5Y*: 11.37%
• 10Y*: 11.92%

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

USBLX vs. VEIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USBLX USAA Growth and Tax Strategy Fund	6.19%	10.30%	13.32%	16.10%	-15.82%	14.80%	10.78%	18.46%	-1.95%	13.48%
VEIPX Vanguard Equity Income Fund Investor Shares	8.13%	17.14%	14.80%	7.66%	-0.16%	25.41%	2.97%	25.21%	-5.75%	17.60%

Correlation

The correlation between USBLX and VEIPX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 11, 1989	0.84

Over the past year, the correlation between USBLX and VEIPX has dropped to 0.64 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

USBLX vs. VEIPX — Risk / Return Rank

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

USBLX

USBLX Risk / Return Rank: 83
USBLX Sharpe Ratio Rank: 86
USBLX Sortino Ratio Rank: 84
USBLX Omega Ratio Rank: 81
USBLX Calmar Ratio Rank: 75
USBLX Martin Ratio Rank: 87

VEIPX

VEIPX Risk / Return Rank: 59
VEIPX Sharpe Ratio Rank: 57
VEIPX Sortino Ratio Rank: 58
VEIPX Omega Ratio Rank: 54
VEIPX Calmar Ratio Rank: 66
VEIPX Martin Ratio Rank: 59

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.

USBLX vs. VEIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Growth and Tax Strategy Fund (USBLX) and Vanguard Equity Income Fund Investor Shares (VEIPX). 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.

	USBLX	VEIPX	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.05	+0.53
Sortino ratio: Return per unit of downside risk	3.67	2.92	+0.75
Omega ratio: Gain probability vs. loss probability	1.49	1.37	+0.12
Calmar ratio: Return relative to maximum drawdown	3.21	2.98	+0.23
Martin ratio: Return relative to average drawdown	15.43	11.06	+4.37

USBLX vs. VEIPX - Sharpe Ratio Comparison

The current USBLX Sharpe Ratio is 2.58, which is comparable to the VEIPX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of USBLX and VEIPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USBLX vs. VEIPX - Drawdown Comparison

The maximum USBLX drawdown since its inception was -33.49%, smaller than the maximum VEIPX drawdown of -54.12%. Use the drawdown chart below to compare losses from any high point for USBLX and VEIPX.

Drawdown Indicators

	USBLX	VEIPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.49%	-54.12%	+20.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.24%	-7.15%	+1.91%
Max Drawdown (3Y) Largest decline over 3 years	-11.66%	-13.39%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-20.51%	-15.16%	-5.35%
Max Drawdown (10Y) Largest decline over 10 years	-21.93%	-35.26%	+13.33%
Current Drawdown Current decline from peak	-0.48%	-1.43%	+0.95%
Average Drawdown Average peak-to-trough decline	-4.29%	-5.50%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.92%	-0.83%

Volatility

USBLX vs. VEIPX - Volatility Comparison

The current volatility for USAA Growth and Tax Strategy Fund (USBLX) is 2.37%, while Vanguard Equity Income Fund Investor Shares (VEIPX) has a volatility of 2.82%. This indicates that USBLX experiences smaller price fluctuations and is considered to be less risky than VEIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBLX	VEIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	2.82%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	5.22%	7.60%	-2.38%
Volatility (1Y) Calculated over the trailing 1-year period	6.51%	10.39%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.69%	13.90%	-5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.11%	16.31%	-7.20%

USBLX vs. VEIPX - Expense Ratio Comparison

USBLX has a 0.58% expense ratio, which is higher than VEIPX's 0.28% expense ratio.

Dividends

USBLX vs. VEIPX - Dividend Comparison

USBLX's dividend yield for the trailing twelve months is around 2.25%, less than VEIPX's 10.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBLX USAA Growth and Tax Strategy Fund	2.25%	1.96%	2.28%	2.11%	1.74%	1.66%	1.88%	1.95%	2.73%	2.16%	2.31%	2.69%
VEIPX Vanguard Equity Income Fund Investor Shares	10.17%	10.94%	9.74%	7.87%	8.69%	7.62%	2.77%	4.36%	10.87%	2.98%	3.78%	6.39%

Frequently Asked Questions

Can I hold both USBLX and VEIPX in my portfolio?

USBLX and VEIPX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USBLX or VEIPX?

VEIPX has higher volatility (2.82%) compared to USBLX (2.37%). In terms of maximum drawdown, USBLX dropped -33.49% vs VEIPX's -54.12%.

Which has better risk-adjusted returns?

USBLX currently has the higher Sharpe Ratio (2.58 vs 2.05), 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.