USBNX vs. VSCAX

Last updated Jun 26, 2026

USBNX (Pear Tree Polaris Small Cap Fund) and VSCAX (Invesco Small Cap Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, USBNX returned 8.51%/yr vs 18.25%/yr for VSCAX. Their correlation of 0.89 suggests significant overlap in exposure. USBNX charges 1.50%/yr vs 1.12%/yr for VSCAX.

Performance

USBNX vs. VSCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pear Tree Polaris Small Cap Fund (USBNX) and Invesco Small Cap Value Fund (VSCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USBNX achieves a 15.29% return, which is significantly lower than VSCAX's 29.12% return. Over the past 10 years, USBNX has underperformed VSCAX with an annualized return of 8.51%, while VSCAX has yielded a comparatively higher 18.25% annualized return.

USBNX

• 1D: 0.78%
• 1M: 3.10%
• YTD: 15.29%
• 6M: 13.30%
• 1Y: 25.23%
• 3Y*: 15.51%
• 5Y*: 6.33%
• 10Y*: 8.51%

VSCAX

• 1D: 0.15%
• 1M: 1.27%
• YTD: 29.12%
• 6M: 26.62%
• 1Y: 55.14%
• 3Y*: 31.48%
• 5Y*: 19.58%
• 10Y*: 18.25%

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

USBNX vs. VSCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USBNX Pear Tree Polaris Small Cap Fund	15.29%	8.02%	8.64%	12.83%	-5.09%	15.35%	-4.77%	23.53%	-11.05%	6.42%
VSCAX Invesco Small Cap Value Fund	29.12%	17.70%	24.54%	22.84%	4.31%	36.34%	10.81%	32.02%	-25.64%	18.17%

Correlation

The correlation between USBNX and VSCAX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 21, 1999	0.89

The correlation between USBNX and VSCAX shifts across timeframes, from 0.73 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

USBNX vs. VSCAX — Risk / Return Rank

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

USBNX

USBNX Risk / Return Rank: 49
USBNX Sharpe Ratio Rank: 45
USBNX Sortino Ratio Rank: 50
USBNX Omega Ratio Rank: 43
USBNX Calmar Ratio Rank: 62
USBNX Martin Ratio Rank: 44

VSCAX

VSCAX Risk / Return Rank: 86
VSCAX Sharpe Ratio Rank: 88
VSCAX Sortino Ratio Rank: 79
VSCAX Omega Ratio Rank: 77
VSCAX Calmar Ratio Rank: 94
VSCAX Martin Ratio Rank: 93

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.

USBNX vs. VSCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pear Tree Polaris Small Cap Fund (USBNX) and Invesco Small Cap Value Fund (VSCAX). 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.

	USBNX	VSCAX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.52	-0.89
Sortino ratio: Return per unit of downside risk	2.46	3.15	-0.69
Omega ratio: Gain probability vs. loss probability	1.29	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	2.61	4.83	-2.22
Martin ratio: Return relative to average drawdown	8.06	16.76	-8.70

USBNX vs. VSCAX - Sharpe Ratio Comparison

The current USBNX Sharpe Ratio is 1.63, which is lower than the VSCAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of USBNX and VSCAX, 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

USBNX vs. VSCAX - Drawdown Comparison

The maximum USBNX drawdown since its inception was -64.40%, which is greater than VSCAX's maximum drawdown of -57.77%. Use the drawdown chart below to compare losses from any high point for USBNX and VSCAX.

Drawdown Indicators

	USBNX	VSCAX	Difference
Max Drawdown Largest peak-to-trough decline	-64.40%	-57.77%	-6.63%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-11.43%	+2.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.56%	-25.29%	+3.73%
Max Drawdown (5Y) Largest decline over 5 years	-26.01%	-25.29%	-0.72%
Max Drawdown (10Y) Largest decline over 10 years	-46.96%	-57.77%	+10.81%
Current Drawdown Current decline from peak	0.00%	-2.88%	+2.88%
Average Drawdown Average peak-to-trough decline	-13.61%	-8.88%	-4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.28%	-0.32%

Volatility

USBNX vs. VSCAX - Volatility Comparison

The current volatility for Pear Tree Polaris Small Cap Fund (USBNX) is 3.40%, while Invesco Small Cap Value Fund (VSCAX) has a volatility of 9.41%. This indicates that USBNX experiences smaller price fluctuations and is considered to be less risky than VSCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBNX	VSCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	9.41%	-6.01%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	17.31%	-7.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.76%	21.98%	-7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	23.34%	-4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.63%	26.72%	-5.09%

USBNX vs. VSCAX - Expense Ratio Comparison

USBNX has a 1.50% expense ratio, which is higher than VSCAX's 1.12% expense ratio.

Dividends

USBNX vs. VSCAX - Dividend Comparison

USBNX's dividend yield for the trailing twelve months is around 11.98%, more than VSCAX's 7.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBNX Pear Tree Polaris Small Cap Fund	11.98%	13.81%	3.27%	0.86%	10.05%	0.75%	0.68%	7.91%	8.39%	6.21%	1.17%	7.39%
VSCAX Invesco Small Cap Value Fund	7.14%	9.22%	7.90%	4.93%	10.12%	16.90%	0.30%	2.53%	28.45%	16.65%	1.71%	11.08%

Frequently Asked Questions

Can I hold both USBNX and VSCAX in my portfolio?

USBNX and VSCAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USBNX or VSCAX?

VSCAX has higher volatility (9.41%) compared to USBNX (3.40%). In terms of maximum drawdown, USBNX dropped -64.40% vs VSCAX's -57.77%.

Which has better risk-adjusted returns?

VSCAX currently has the higher Sharpe Ratio (2.52 vs 1.63), 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.