USMIX vs. SPY
Compare and contrast key facts about USAA Extended Market Index Fund (USMIX) and State Street SPDR S&P 500 ETF (SPY).
USMIX is managed by Victory. It was launched on Oct 27, 2000. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
USMIX vs. SPY - Performance Comparison
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USMIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USMIX USAA Extended Market Index Fund | 0.05% | 10.44% | 11.99% | 25.81% | -24.04% | 15.29% | 31.20% | 27.93% | -9.71% | 17.72% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, USMIX achieves a 0.05% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, USMIX has underperformed SPY with an annualized return of 10.95%, while SPY has yielded a comparatively higher 14.06% annualized return.
USMIX
- 1D
- 3.09%
- 1M
- -5.95%
- YTD
- 0.05%
- 6M
- 1.90%
- 1Y
- 19.46%
- 3Y*
- 13.77%
- 5Y*
- 4.30%
- 10Y*
- 10.95%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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USMIX vs. SPY - Expense Ratio Comparison
USMIX has a 0.38% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
USMIX vs. SPY — Risk / Return Rank
USMIX
SPY
USMIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Extended Market Index Fund (USMIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| USMIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.96 | -0.05 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.49 | -0.08 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.38 | 1.53 | -0.15 |
Martin ratioReturn relative to average drawdown | 5.62 | 7.27 | -1.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USMIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.96 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.70 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.79 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.56 | -0.20 |
Correlation
The correlation between USMIX and SPY is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
USMIX vs. SPY - Dividend Comparison
USMIX's dividend yield for the trailing twelve months is around 6.47%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USMIX USAA Extended Market Index Fund | 6.47% | 6.47% | 14.41% | 4.41% | 8.78% | 17.98% | 3.32% | 3.18% | 6.48% | 7.48% | 7.07% | 8.02% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
USMIX vs. SPY - Drawdown Comparison
The maximum USMIX drawdown since its inception was -57.91%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for USMIX and SPY.
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Drawdown Indicators
| USMIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.91% | -55.19% | -2.72% |
Max Drawdown (1Y)Largest decline over 1 year | -14.21% | -12.05% | -2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -37.86% | -24.50% | -13.36% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | -33.72% | -8.14% |
Current DrawdownCurrent decline from peak | -7.18% | -5.53% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -12.06% | -9.09% | -2.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 2.54% | +0.96% |
Volatility
USMIX vs. SPY - Volatility Comparison
USAA Extended Market Index Fund (USMIX) has a higher volatility of 6.49% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that USMIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USMIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.49% | 5.35% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 12.69% | 9.50% | +3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.81% | 19.06% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.99% | 17.06% | +7.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.65% | 17.92% | +5.73% |