USCAX vs. SSLCX

Last updated Jun 25, 2026

USCAX (USAA Small Cap Stock Fund) and SSLCX (DWS Small Cap Core Fund) are both Small Cap Blend Equities funds. Over the past 10 years, USCAX returned 11.13%/yr vs 11.34%/yr for SSLCX. Their correlation of 0.95 suggests significant overlap in exposure. USCAX charges 1.10%/yr vs 0.95%/yr for SSLCX.

Performance

USCAX vs. SSLCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Small Cap Stock Fund (USCAX) and DWS Small Cap Core Fund (SSLCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USCAX achieves a 21.78% return, which is significantly higher than SSLCX's 12.87% return. Both investments have delivered pretty close results over the past 10 years, with USCAX having a 11.13% annualized return and SSLCX not far ahead at 11.34%.

USCAX

• 1D: -0.24%
• 1M: 6.23%
• YTD: 21.78%
• 6M: 19.21%
• 1Y: 37.61%
• 3Y*: 16.12%
• 5Y*: 5.25%
• 10Y*: 11.13%

SSLCX

• 1D: -0.17%
• 1M: 2.25%
• YTD: 12.87%
• 6M: 11.09%
• 1Y: 15.29%
• 3Y*: 13.56%
• 5Y*: 6.04%
• 10Y*: 11.34%

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

USCAX vs. SSLCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USCAX USAA Small Cap Stock Fund	21.78%	9.15%	5.34%	17.35%	-19.99%	17.08%	22.22%	29.04%	-9.97%	10.10%
SSLCX DWS Small Cap Core Fund	12.87%	4.99%	9.85%	13.09%	-13.53%	41.16%	14.65%	21.72%	-14.28%	11.63%

Correlation

The correlation between USCAX and SSLCX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.95

The correlation between USCAX and SSLCX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

USCAX vs. SSLCX — Risk / Return Rank

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

USCAX

USCAX Risk / Return Rank: 76
USCAX Sharpe Ratio Rank: 72
USCAX Sortino Ratio Rank: 71
USCAX Omega Ratio Rank: 59
USCAX Calmar Ratio Rank: 91
USCAX Martin Ratio Rank: 87

SSLCX

SSLCX Risk / Return Rank: 23
SSLCX Sharpe Ratio Rank: 19
SSLCX Sortino Ratio Rank: 19
SSLCX Omega Ratio Rank: 18
SSLCX Calmar Ratio Rank: 30
SSLCX Martin Ratio Rank: 28

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.

USCAX vs. SSLCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Small Cap Stock Fund (USCAX) and DWS Small Cap Core Fund (SSLCX). 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.

	USCAX	SSLCX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.10	+1.10
Sortino ratio: Return per unit of downside risk	3.11	1.60	+1.52
Omega ratio: Gain probability vs. loss probability	1.37	1.20	+0.17
Calmar ratio: Return relative to maximum drawdown	4.35	1.85	+2.50
Martin ratio: Return relative to average drawdown	14.82	5.80	+9.02

USCAX vs. SSLCX - Sharpe Ratio Comparison

The current USCAX Sharpe Ratio is 2.20, which is higher than the SSLCX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of USCAX and SSLCX, 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

USCAX vs. SSLCX - Drawdown Comparison

The maximum USCAX drawdown since its inception was -60.17%, roughly equal to the maximum SSLCX drawdown of -63.14%. Use the drawdown chart below to compare losses from any high point for USCAX and SSLCX.

Drawdown Indicators

	USCAX	SSLCX	Difference
Max Drawdown Largest peak-to-trough decline	-60.17%	-63.14%	+2.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-8.78%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-28.89%	-17.34%	-11.55%
Max Drawdown (5Y) Largest decline over 5 years	-47.97%	-22.57%	-25.40%
Max Drawdown (10Y) Largest decline over 10 years	-47.97%	-48.07%	+0.10%
Current Drawdown Current decline from peak	-6.96%	-1.10%	-5.86%
Average Drawdown Average peak-to-trough decline	-18.71%	-11.29%	-7.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.79%	-0.12%

Volatility

USCAX vs. SSLCX - Volatility Comparison

USAA Small Cap Stock Fund (USCAX) and DWS Small Cap Core Fund (SSLCX) have volatilities of 5.03% and 5.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USCAX	SSLCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	5.25%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	10.78%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	14.84%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.21%	17.35%	+15.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.85%	21.02%	+7.83%

USCAX vs. SSLCX - Expense Ratio Comparison

USCAX has a 1.10% expense ratio, which is higher than SSLCX's 0.95% expense ratio.

Dividends

USCAX vs. SSLCX - Dividend Comparison

USCAX's dividend yield for the trailing twelve months is around 6.18%, more than SSLCX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSLCX DWS Small Cap Core Fund	1.07%	1.21%	1.52%	0.68%	1.07%	1.67%	0.35%	0.16%	5.99%	5.78%	0.60%	8.42%
USCAX USAA Small Cap Stock Fund	6.18%	7.53%	6.00%	0.18%	6.19%	43.14%	8.50%	9.92%	13.94%	11.05%	1.24%	9.23%

Frequently Asked Questions

Can I hold both USCAX and SSLCX in my portfolio?

USCAX and SSLCX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USCAX or SSLCX?

SSLCX has higher volatility (5.25%) compared to USCAX (5.03%). In terms of maximum drawdown, USCAX dropped -60.17% vs SSLCX's -63.14%.

Which has better risk-adjusted returns?

USCAX currently has the higher Sharpe Ratio (2.20 vs 1.10), 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.