USBSX vs. USSPX

Last updated Aug 4, 2026

USBSX (USAA Cornerstone Moderate Fund) and USSPX (Victory 500 Index Fund Member Shares) are both mutual funds - USBSX is a Diversified Portfolio fund managed by Victory, while USSPX is a Large Cap Blend Equities fund tracking the Victory US Large Cap 500 Index. Over the past 10 years, USBSX returned 6.27%/yr vs 15.05%/yr for USSPX. Their correlation of 0.93 means they have usually moved in the same direction. USBSX charges 1.14%/yr vs 0.23%/yr for USSPX.

Performance

USBSX vs. USSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Cornerstone Moderate Fund (USBSX) and Victory 500 Index Fund Member Shares (USSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USBSX achieves a 7.00% return, which is significantly lower than USSPX's 10.08% return. Over the past 10 years, USBSX has underperformed USSPX with an annualized return of 6.27%, while USSPX has yielded a comparatively higher 15.05% annualized return.

USBSX

• 1D: -0.12%
• 1M: -0.12%
• 6M: 4.68%
• YTD: 7.00%
• 1Y: 15.08%
• 3Y*: 10.80%
• 5Y*: 5.18%
• 10Y*: 6.27%
• ALL TIME*: 5.99%

USSPX

• 1D: 0.68%
• 1M: -0.04%
• 6M: 8.06%
• YTD: 10.08%
• 1Y: 21.10%
• 3Y*: 19.42%
• 5Y*: 12.45%
• 10Y*: 15.05%
• ALL TIME*: 10.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USBSX USAA Cornerstone Moderate Fund	$0.00	$0.00	$0.00
USSPX Victory 500 Index Fund Member Shares	$0.00	$0.00	$0.00

USBSX vs. USSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USBSX USAA Cornerstone Moderate Fund	7.00%	14.93%	6.90%	10.86%	-13.36%	9.48%	8.54%	14.98%	-6.23%	13.41%
USSPX Victory 500 Index Fund Member Shares	10.08%	17.63%	25.04%	26.99%	-19.37%	27.45%	21.21%	31.19%	-4.66%	21.19%

Correlation

The correlation between USBSX and USSPX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.88
Correlation (All Time) Calculated using the full available price history since Apr 30, 1996	0.93

The correlation between USBSX and USSPX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

USBSX vs. USSPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

USBSX

USBSX Risk / Return Rank: 73
USBSX Sharpe Ratio Rank: 71
USBSX Sortino Ratio Rank: 70
USBSX Omega Ratio Rank: 70
USBSX Calmar Ratio Rank: 73
USBSX Martin Ratio Rank: 81

USSPX

USSPX Risk / Return Rank: 55
USSPX Sharpe Ratio Rank: 52
USSPX Sortino Ratio Rank: 48
USSPX Omega Ratio Rank: 48
USSPX Calmar Ratio Rank: 57
USSPX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

USBSX vs. USSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Cornerstone Moderate Fund (USBSX) and Victory 500 Index Fund Member Shares (USSPX). 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.

	USBSX	USSPX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.48	+0.28
Sortino ratio: Return per unit of downside risk	2.50	2.06	+0.45
Omega ratio: Gain probability vs. loss probability	1.33	1.26	+0.06
Calmar ratio: Return relative to maximum drawdown	2.50	2.15	+0.35
Martin ratio: Return relative to average drawdown	10.52	9.11	+1.41

USBSX vs. USSPX - Sharpe Ratio Comparison

The current USBSX Sharpe Ratio is 1.75, which is comparable to the USSPX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of USBSX and USSPX, 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

USBSX vs. USSPX - Drawdown Comparison

The maximum USBSX drawdown since its inception was -47.15%, smaller than the maximum USSPX drawdown of -55.39%. Use the drawdown chart below to compare losses from any high point for USBSX and USSPX.

Drawdown Indicators

	USBSX	USSPX	Difference
Max Drawdown Largest peak-to-trough decline	-47.15%	-55.39%	+8.24%
Max Drawdown (1Y) Largest decline over 1 year	-5.96%	-8.92%	+2.96%
Max Drawdown (3Y) Largest decline over 3 years	-10.05%	-19.64%	+9.59%
Max Drawdown (5Y) Largest decline over 5 years	-22.63%	-26.88%	+4.25%
Max Drawdown (10Y) Largest decline over 10 years	-22.63%	-33.64%	+11.01%
Current Drawdown Current decline from peak	-0.77%	-1.64%	+0.87%
Average Drawdown Average peak-to-trough decline	-5.10%	-10.09%	+4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	2.10%	-0.68%

Volatility

USBSX vs. USSPX - Volatility Comparison

The current volatility for USAA Cornerstone Moderate Fund (USBSX) is 2.31%, while Victory 500 Index Fund Member Shares (USSPX) has a volatility of 3.56%. This indicates that USBSX experiences smaller price fluctuations and is considered to be less risky than USSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBSX	USSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	3.56%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	10.23%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	8.53%	12.99%	-4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.05%	17.61%	-7.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.44%	18.37%	-8.93%

USBSX vs. USSPX - Expense Ratio Comparison

USBSX has a 1.14% expense ratio, which is higher than USSPX's 0.23% expense ratio.

Dividends

USBSX vs. USSPX - Dividend Comparison

USBSX's dividend yield for the trailing twelve months is around 8.40%, more than USSPX's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBSX USAA Cornerstone Moderate Fund	8.40%	8.75%	6.17%	1.49%	4.79%	7.05%	1.58%	2.07%	5.24%	7.00%	2.43%	4.73%
USSPX Victory 500 Index Fund Member Shares	3.76%	4.14%	3.63%	2.07%	2.81%	4.98%	3.38%	4.98%	3.03%	1.34%	2.34%	1.89%

Frequently Asked Questions

Can I hold both USBSX and USSPX in my portfolio?

With a correlation of 0.91, USBSX and USSPX 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, USBSX or USSPX?

USSPX has higher volatility (3.56%) compared to USBSX (2.31%). In terms of maximum drawdown, USBSX dropped -47.15% vs USSPX's -55.39%.

Which has better risk-adjusted returns?

USBSX currently has the higher Sharpe Ratio (1.75 vs 1.48), 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.