USLUX vs. NEARX

Last updated Jun 23, 2026

USLUX (U.S. Global Investors Global Luxury Goods Fund) and NEARX (U.S. Global Investors Near-Term Tax Free Fund) are both mutual funds - USLUX is a Consumer Discretionary Equities fund managed by US Global, while NEARX is a Municipal Bonds fund managed by US Global. Over the past 10 years, USLUX returned 10.31%/yr vs 1.06%/yr for NEARX. At a correlation of -0.02, they often move in opposite directions. USLUX charges 1.55%/yr vs 0.45%/yr for NEARX.

Performance

USLUX vs. NEARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Global Luxury Goods Fund (USLUX) and U.S. Global Investors Near-Term Tax Free Fund (NEARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USLUX achieves a -2.25% return, which is significantly lower than NEARX's 1.04% return. Over the past 10 years, USLUX has outperformed NEARX with an annualized return of 10.31%, while NEARX has yielded a comparatively lower 1.06% annualized return.

USLUX

• 1D: 1.48%
• 1M: 5.23%
• YTD: -2.25%
• 6M: -3.96%
• 1Y: 13.57%
• 3Y*: 9.26%
• 5Y*: 6.61%
• 10Y*: 10.31%

NEARX

• 1D: 0.48%
• 1M: 1.18%
• YTD: 1.04%
• 6M: 1.27%
• 1Y: 3.01%
• 3Y*: 2.98%
• 5Y*: 0.76%
• 10Y*: 1.06%

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

USLUX vs. NEARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USLUX U.S. Global Investors Global Luxury Goods Fund	-2.25%	17.87%	14.26%	23.79%	-23.91%	25.14%	20.76%	13.72%	-8.30%	19.19%
NEARX U.S. Global Investors Near-Term Tax Free Fund	1.04%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%	2.40%	1.58%	1.48%

Correlation

The correlation between USLUX and NEARX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	-0.02

The correlation between USLUX and NEARX shifts across timeframes, from -0.02 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

USLUX vs. NEARX — Risk / Return Rank

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

USLUX

USLUX Risk / Return Rank: 9
USLUX Sharpe Ratio Rank: 8
USLUX Sortino Ratio Rank: 9
USLUX Omega Ratio Rank: 8
USLUX Calmar Ratio Rank: 9
USLUX Martin Ratio Rank: 8

NEARX

NEARX Risk / Return Rank: 37
NEARX Sharpe Ratio Rank: 20
NEARX Sortino Ratio Rank: 23
NEARX Omega Ratio Rank: 82
NEARX Calmar Ratio Rank: 34
NEARX Martin Ratio Rank: 24

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.

USLUX vs. NEARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Global Luxury Goods Fund (USLUX) and U.S. Global Investors Near-Term Tax Free Fund (NEARX). 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.

	USLUX	NEARX	Difference
Sharpe ratio: Return per unit of total volatility	0.66	1.19	-0.53
Sortino ratio: Return per unit of downside risk	1.08	1.87	-0.79
Omega ratio: Gain probability vs. loss probability	1.12	1.50	-0.37
Calmar ratio: Return relative to maximum drawdown	0.83	2.08	-1.25
Martin ratio: Return relative to average drawdown	2.27	5.39	-3.12

USLUX vs. NEARX - Sharpe Ratio Comparison

The current USLUX Sharpe Ratio is 0.66, which is lower than the NEARX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of USLUX and NEARX, 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

USLUX vs. NEARX - Drawdown Comparison

The maximum USLUX drawdown since its inception was -77.61%, roughly equal to the maximum NEARX drawdown of -80.12%. Use the drawdown chart below to compare losses from any high point for USLUX and NEARX.

Drawdown Indicators

	USLUX	NEARX	Difference
Max Drawdown Largest peak-to-trough decline	-77.61%	-80.12%	+2.51%
Max Drawdown (1Y) Largest decline over 1 year	-15.68%	-1.45%	-14.23%
Max Drawdown (3Y) Largest decline over 3 years	-20.96%	-1.45%	-19.51%
Max Drawdown (5Y) Largest decline over 5 years	-33.85%	-6.91%	-26.94%
Max Drawdown (10Y) Largest decline over 10 years	-34.51%	-6.91%	-27.60%
Current Drawdown Current decline from peak	-4.74%	-0.29%	-4.45%
Average Drawdown Average peak-to-trough decline	-42.03%	-20.80%	-21.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	0.56%	+5.15%

Volatility

USLUX vs. NEARX - Volatility Comparison

U.S. Global Investors Global Luxury Goods Fund (USLUX) has a higher volatility of 7.28% compared to U.S. Global Investors Near-Term Tax Free Fund (NEARX) at 0.68%. This indicates that USLUX's price experiences larger fluctuations and is considered to be riskier than NEARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USLUX	NEARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.28%	0.68%	+6.60%
Volatility (6M) Calculated over the trailing 6-month period	15.75%	1.79%	+13.96%
Volatility (1Y) Calculated over the trailing 1-year period	19.86%	2.54%	+17.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.04%	2.50%	+18.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.76%	2.55%	+17.21%

USLUX vs. NEARX - Expense Ratio Comparison

USLUX has a 1.55% expense ratio, which is higher than NEARX's 0.45% expense ratio.

Dividends

USLUX vs. NEARX - Dividend Comparison

USLUX's dividend yield for the trailing twelve months is around 8.07%, more than NEARX's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.49%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%
USLUX U.S. Global Investors Global Luxury Goods Fund	8.07%	7.88%	9.94%	2.71%	6.40%	15.37%	0.12%	2.31%	16.18%	13.87%	8.35%	8.01%

Frequently Asked Questions

Can I hold both USLUX and NEARX in my portfolio?

USLUX and NEARX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USLUX or NEARX?

USLUX has higher volatility (7.28%) compared to NEARX (0.68%). In terms of maximum drawdown, USLUX dropped -77.61% vs NEARX's -80.12%.

Which has better risk-adjusted returns?

NEARX currently has the higher Sharpe Ratio (1.19 vs 0.66), 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.