USSPX vs. USBLX

Last updated Aug 4, 2026

USSPX (Victory 500 Index Fund Member Shares) and USBLX (USAA Growth and Tax Strategy Fund) are both mutual funds - USSPX is a Large Cap Blend Equities fund tracking the Victory US Large Cap 500 Index, while USBLX is a Diversified Portfolio fund managed by Victory. Over the past 10 years, USSPX returned 15.05%/yr vs 7.94%/yr for USBLX. Their correlation of 0.95 means they have usually moved in the same direction. USSPX charges 0.23%/yr vs 0.58%/yr for USBLX.

Performance

USSPX vs. USBLX - Performance Comparison

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

Returns By Period

In the year-to-date period, USSPX achieves a 10.08% return, which is significantly higher than USBLX's 5.55% return. Over the past 10 years, USSPX has outperformed USBLX with an annualized return of 15.05%, while USBLX has yielded a comparatively lower 7.94% annualized return.

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%

USBLX

• 1D: 0.29%
• 1M: -0.89%
• 6M: 4.20%
• YTD: 5.55%
• 1Y: 13.08%
• 3Y*: 11.21%
• 5Y*: 6.06%
• 10Y*: 7.94%
• ALL TIME*: 7.01%

*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)
USBLX USAA Growth and Tax Strategy Fund	$0.00	$0.00	$0.00
USSPX Victory 500 Index Fund Member Shares	$0.00	$0.00	$0.00

USSPX vs. USBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
USBLX USAA Growth and Tax Strategy Fund	5.55%	10.30%	13.32%	16.10%	-15.82%	14.80%	10.78%	18.46%	-1.95%	13.48%

Correlation

The correlation between USSPX and USBLX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Apr 30, 1996	0.95

The correlation between USSPX and USBLX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

USSPX vs. USBLX — Risk / Return Rank

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

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

USBLX

USBLX Risk / Return Rank: 76
USBLX Sharpe Ratio Rank: 77
USBLX Sortino Ratio Rank: 75
USBLX Omega Ratio Rank: 74
USBLX Calmar Ratio Rank: 69
USBLX Martin Ratio Rank: 84

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.

USSPX vs. USBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory 500 Index Fund Member Shares (USSPX) and USAA Growth and Tax Strategy Fund (USBLX). 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.

	USSPX	USBLX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.86	-0.39
Sortino ratio: Return per unit of downside risk	2.06	2.63	-0.57
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	2.15	2.39	-0.24
Martin ratio: Return relative to average drawdown	9.11	10.99	-1.89

USSPX vs. USBLX - Sharpe Ratio Comparison

The current USSPX Sharpe Ratio is 1.48, which is comparable to the USBLX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of USSPX and USBLX, 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

USSPX vs. USBLX - Drawdown Comparison

The maximum USSPX drawdown since its inception was -55.39%, which is greater than USBLX's maximum drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for USSPX and USBLX.

Drawdown Indicators

	USSPX	USBLX	Difference
Max Drawdown Largest peak-to-trough decline	-55.39%	-33.49%	-21.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-5.24%	-3.68%
Max Drawdown (3Y) Largest decline over 3 years	-19.64%	-11.66%	-7.98%
Max Drawdown (5Y) Largest decline over 5 years	-26.88%	-20.51%	-6.37%
Max Drawdown (10Y) Largest decline over 10 years	-33.64%	-21.93%	-11.71%
Current Drawdown Current decline from peak	-1.64%	-1.29%	-0.35%
Average Drawdown Average peak-to-trough decline	-10.09%	-4.28%	-5.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.14%	+0.96%

Volatility

USSPX vs. USBLX - Volatility Comparison

Victory 500 Index Fund Member Shares (USSPX) has a higher volatility of 3.56% compared to USAA Growth and Tax Strategy Fund (USBLX) at 1.88%. This indicates that USSPX's price experiences larger fluctuations and is considered to be riskier than USBLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSPX	USBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	1.88%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	5.38%	+4.85%
Volatility (1Y) Calculated over the trailing 1-year period	12.99%	6.71%	+6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.61%	8.71%	+8.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	9.11%	+9.26%

USSPX vs. USBLX - Expense Ratio Comparison

USSPX has a 0.23% expense ratio, which is lower than USBLX's 0.58% expense ratio.

Dividends

USSPX vs. USBLX - Dividend Comparison

USSPX's dividend yield for the trailing twelve months is around 3.76%, more than USBLX's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBLX USAA Growth and Tax Strategy Fund	2.26%	1.96%	2.28%	2.11%	1.74%	1.66%	1.88%	1.95%	2.73%	2.16%	2.31%	2.69%
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 USSPX and USBLX in my portfolio?

With a correlation of 0.98, USSPX and USBLX 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, USSPX or USBLX?

USSPX has higher volatility (3.56%) compared to USBLX (1.88%). In terms of maximum drawdown, USSPX dropped -55.39% vs USBLX's -33.49%.

Which has better risk-adjusted returns?

USBLX currently has the higher Sharpe Ratio (1.86 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.