UUSTX vs. TMPFX

Last updated Apr 1, 2026

Compare and contrast key facts about USAA Ultra Short-Term Bond Fund (UUSTX) and Tactical Multi-Purpose Fund (TMPFX).

UUSTX is managed by Victory. It was launched on Oct 18, 2010. TMPFX is managed by Fisher Investments. It was launched on Mar 30, 2017.

Performance

UUSTX vs. TMPFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Ultra Short-Term Bond Fund (UUSTX) and Tactical Multi-Purpose Fund (TMPFX). The values are adjusted to include any dividend payments, if applicable.

UUSTX vs. TMPFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UUSTX USAA Ultra Short-Term Bond Fund	0.30%	5.25%	6.20%	5.57%	-0.69%	0.78%	3.00%	4.37%	1.58%
TMPFX Tactical Multi-Purpose Fund	0.71%	3.71%	4.26%	3.90%	0.51%	-0.91%	-0.60%	0.30%	-0.30%

Returns By Period

In the year-to-date period, UUSTX achieves a 0.30% return, which is significantly lower than TMPFX's 0.71% return.

UUSTX

• 1D: 0.10%
• 1M: -0.49%
• YTD: 0.30%
• 6M: 1.46%
• 1Y: 4.18%
• 3Y*: 5.28%
• 5Y*: 3.35%
• 10Y*: 2.91%

TMPFX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 0.71%
• 6M: 1.57%
• 1Y: 3.61%
• 3Y*: 3.96%
• 5Y*: 2.46%
• 10Y*: —

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

UUSTX vs. TMPFX - Expense Ratio Comparison

UUSTX has a 0.62% expense ratio, which is lower than TMPFX's 1.14% expense ratio.

TMPFX

Tactical Multi-Purpose Fund

UUSTX

USAA Ultra Short-Term Bond Fund

Return for Risk

UUSTX vs. TMPFX — Risk / Return Rank

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

UUSTX

UUSTX Risk / Return Rank: 99
UUSTX Sharpe Ratio Rank: 98
UUSTX Sortino Ratio Rank: 99
UUSTX Omega Ratio Rank: 99
UUSTX Calmar Ratio Rank: 99
UUSTX Martin Ratio Rank: 99

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.

UUSTX vs. TMPFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Ultra Short-Term Bond Fund (UUSTX) and Tactical Multi-Purpose Fund (TMPFX). 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.

	UUSTX	TMPFX	Difference
Sharpe ratio Return per unit of total volatility	3.04	6.59	-3.55
Sortino ratio Return per unit of downside risk	9.27	—	—
Omega ratio Gain probability vs. loss probability	2.89	—	—
Calmar ratio Return relative to maximum drawdown	7.90	—	—
Martin ratio Return relative to average drawdown	31.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UUSTX vs. TMPFX - Sharpe Ratio Comparison

The current UUSTX Sharpe Ratio is 3.04, which is lower than the TMPFX Sharpe Ratio of 6.59. The chart below compares the historical Sharpe Ratios of UUSTX and TMPFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UUSTX	TMPFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.04	6.59	-3.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.28	1.06	+1.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	0.76	+1.03

Correlation

The correlation between UUSTX and TMPFX is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

UUSTX vs. TMPFX - Dividend Comparison

UUSTX's dividend yield for the trailing twelve months is around 4.30%, more than TMPFX's 3.78% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UUSTX USAA Ultra Short-Term Bond Fund	4.30%	4.81%	5.30%	3.87%	2.01%	0.87%	2.10%	2.66%	2.38%	1.60%	1.31%	1.33%
TMPFX Tactical Multi-Purpose Fund	3.78%	3.81%	4.15%	3.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

UUSTX vs. TMPFX - Drawdown Comparison

The maximum UUSTX drawdown since its inception was -7.34%, which is greater than TMPFX's maximum drawdown of -3.52%. Use the drawdown chart below to compare losses from any high point for UUSTX and TMPFX.

Drawdown Indicators

	UUSTX	TMPFX	Difference
Max Drawdown Largest peak-to-trough decline	-7.34%	-3.52%	-3.82%
Max Drawdown (1Y) Largest decline over 1 year	-0.59%	0.00%	-0.59%
Max Drawdown (5Y) Largest decline over 5 years	-2.53%	-3.52%	+0.99%
Max Drawdown (10Y) Largest decline over 10 years	-7.34%	—	—
Current Drawdown Current decline from peak	-0.49%	0.00%	-0.49%
Average Drawdown Average peak-to-trough decline	-0.27%	-0.66%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	0.00%	+0.15%

Volatility

UUSTX vs. TMPFX - Volatility Comparison

USAA Ultra Short-Term Bond Fund (UUSTX) has a higher volatility of 0.28% compared to Tactical Multi-Purpose Fund (TMPFX) at 0.17%. This indicates that UUSTX's price experiences larger fluctuations and is considered to be riskier than TMPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UUSTX	TMPFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.28%	0.17%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	1.07%	0.37%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	1.52%	0.55%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.48%	2.33%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.49%	1.83%	-0.34%