USNQX vs. DMCRX
USNQX (USAA Nasdaq 100 Index Fund) and DMCRX (Driehaus Micro Cap Growth Fund) are both mutual funds - USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while DMCRX is a Small Cap Growth Equities fund managed by Driehaus. Over the past 10 years, USNQX returned 20.99%/yr vs 21.92%/yr for DMCRX. A 0.71 correlation means they provide meaningful diversification when combined. USNQX charges 0.42%/yr vs 1.38%/yr for DMCRX.
Performance
USNQX vs. DMCRX - Performance Comparison
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Returns By Period
In the year-to-date period, USNQX achieves a 16.98% return, which is significantly lower than DMCRX's 27.45% return. Both investments have delivered pretty close results over the past 10 years, with USNQX having a 20.99% annualized return and DMCRX not far ahead at 21.92%.
USNQX
- 1D
- -0.30%
- 1M
- -1.57%
- 6M
- 15.62%
- YTD
- 16.98%
- 1Y
- 29.07%
- 3Y*
- 24.19%
- 5Y*
- 15.36%
- 10Y*
- 20.99%
DMCRX
- 1D
- -1.49%
- 1M
- 3.76%
- 6M
- 17.01%
- YTD
- 27.45%
- 1Y
- 69.73%
- 3Y*
- 28.82%
- 5Y*
- 12.45%
- 10Y*
- 21.92%
USNQX vs. DMCRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USNQX USAA Nasdaq 100 Index Fund | 16.98% | 20.52% | 25.42% | 54.46% | -32.71% | 26.82% | 48.31% | 38.86% | -0.43% | 32.30% |
DMCRX Driehaus Micro Cap Growth Fund | 27.45% | 31.17% | 30.58% | 11.47% | -33.54% | 22.23% | 86.43% | 34.03% | 2.52% | 24.35% |
Correlation
The correlation between USNQX and DMCRX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2013 | 0.71 |
The correlation between USNQX and DMCRX has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
USNQX vs. DMCRX — Risk / Return Rank
USNQX
DMCRX
USNQX vs. DMCRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Nasdaq 100 Index Fund (USNQX) and Driehaus Micro Cap Growth Fund (DMCRX). 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.
| USNQX | DMCRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.38 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 4.74 | -2.31 |
| Martin ratioReturn relative to average drawdown | 8.65 | 16.24 | -7.59 |
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Drawdowns
USNQX vs. DMCRX - Drawdown Comparison
The maximum USNQX drawdown since its inception was -76.24%, which is greater than DMCRX's maximum drawdown of -46.68%. Use the drawdown chart below to compare losses from any high point for USNQX and DMCRX.
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Drawdown Indicators
| USNQX | DMCRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -46.68% | -29.56% |
Max Drawdown (1Y)Largest decline over 1 year | -12.07% | -15.46% | +3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -22.88% | -34.92% | +12.04% |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | -46.68% | +9.73% |
Max Drawdown (10Y)Largest decline over 10 years | -36.95% | -46.68% | +9.73% |
Current DrawdownCurrent decline from peak | -3.75% | -4.89% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -26.65% | -14.73% | -11.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 4.49% | -1.11% |
Volatility
USNQX vs. DMCRX - Volatility Comparison
USAA Nasdaq 100 Index Fund (USNQX) and Driehaus Micro Cap Growth Fund (DMCRX) have volatilities of 7.84% and 8.06%, 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.
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Volatility by Period
| USNQX | DMCRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.84% | 8.06% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 22.99% | -7.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.59% | 29.90% | -11.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.29% | 28.71% | -5.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.80% | 28.03% | -5.23% |
USNQX vs. DMCRX - Expense Ratio Comparison
USNQX has a 0.42% expense ratio, which is lower than DMCRX's 1.38% expense ratio.
Dividends
USNQX vs. DMCRX - Dividend Comparison
USNQX's dividend yield for the trailing twelve months is around 2.58%, less than DMCRX's 10.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMCRX Driehaus Micro Cap Growth Fund | 10.76% | 13.72% | 3.86% | 0.87% | 8.20% | 48.23% | 19.79% | 14.70% | 33.22% | 8.91% | 0.00% | 4.20% |
USNQX USAA Nasdaq 100 Index Fund | 2.58% | 3.01% | 2.19% | 2.60% | 4.13% | 4.48% | 1.53% | 0.88% | 0.69% | 1.97% | 0.50% | 2.73% |
Frequently Asked Questions
USNQX and DMCRX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DMCRX has higher volatility (8.06%) compared to USNQX (7.84%). In terms of maximum drawdown, USNQX dropped -76.24% vs DMCRX's -46.68%.
DMCRX currently has the higher Sharpe Ratio (2.45 vs 1.58), 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.
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