VETAX vs. USAUX

Last updated Aug 4, 2026

VETAX (Victory Sycamore Established Value Fund Class A) and USAUX (USAA Aggressive Growth Fund) are both mutual funds - VETAX is a Mid Cap Value Equities fund actively managed by Victory, while USAUX is a Large Cap Growth Equities fund managed by Victory. Over the past 10 years, VETAX returned 10.84%/yr vs 14.94%/yr for USAUX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. VETAX charges 0.89%/yr vs 0.63%/yr for USAUX.

Performance

VETAX vs. USAUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Sycamore Established Value Fund Class A (VETAX) and USAA Aggressive Growth Fund (USAUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VETAX achieves a 14.20% return, which is significantly higher than USAUX's 2.72% return. Over the past 10 years, VETAX has underperformed USAUX with an annualized return of 10.84%, while USAUX has yielded a comparatively higher 14.94% annualized return.

VETAX

• 1D: -0.02%
• 1M: -0.20%
• 6M: 7.38%
• YTD: 14.20%
• 1Y: 17.40%
• 3Y*: 9.31%
• 5Y*: 7.64%
• 10Y*: 10.84%
• ALL TIME*: 9.79%

USAUX

• 1D: 1.41%
• 1M: -1.04%
• 6M: 3.66%
• YTD: 2.72%
• 1Y: 9.43%
• 3Y*: 20.11%
• 5Y*: 9.44%
• 10Y*: 14.94%
• ALL TIME*: 9.53%

*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)
USAUX USAA Aggressive Growth Fund	$0.00	$0.00	$0.00
VETAX Victory Sycamore Established Value Fund Class A	$0.00	$0.00	$0.00

VETAX vs. USAUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VETAX Victory Sycamore Established Value Fund Class A	14.20%	2.15%	9.80%	10.06%	-2.85%	31.49%	7.79%	28.38%	-10.33%	15.67%
USAUX USAA Aggressive Growth Fund	2.72%	16.98%	33.63%	48.36%	-35.30%	16.68%	41.82%	23.23%	-0.75%	30.12%

Correlation

The correlation between VETAX and USAUX is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.58
Correlation (10Y) Provides a long-term view across more market conditions.	0.59
Correlation (All Time) Calculated using the full available price history since May 5, 2000	0.75

Over the past year, the correlation between VETAX and USAUX has dropped to 0.31 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

VETAX vs. USAUX — Risk / Return Rank

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

VETAX

VETAX Risk / Return Rank: 45
VETAX Sharpe Ratio Rank: 40
VETAX Sortino Ratio Rank: 45
VETAX Omega Ratio Rank: 38
VETAX Calmar Ratio Rank: 56
VETAX Martin Ratio Rank: 45

USAUX

USAUX Risk / Return Rank: 9
USAUX Sharpe Ratio Rank: 10
USAUX Sortino Ratio Rank: 10
USAUX Omega Ratio Rank: 10
USAUX Calmar Ratio Rank: 9
USAUX Martin Ratio Rank: 9

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.

VETAX vs. USAUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Sycamore Established Value Fund Class A (VETAX) and USAA Aggressive Growth Fund (USAUX). 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.

	VETAX	USAUX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	0.41	+0.90
Sortino ratio: Return per unit of downside risk	2.02	0.68	+1.34
Omega ratio: Gain probability vs. loss probability	1.23	1.08	+0.15
Calmar ratio: Return relative to maximum drawdown	2.14	0.43	+1.72
Martin ratio: Return relative to average drawdown	6.83	1.25	+5.58

VETAX vs. USAUX - Sharpe Ratio Comparison

The current VETAX Sharpe Ratio is 1.31, which is higher than the USAUX Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of VETAX and USAUX, 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

VETAX vs. USAUX - Drawdown Comparison

The maximum VETAX drawdown since its inception was -48.94%, smaller than the maximum USAUX drawdown of -76.19%. Use the drawdown chart below to compare losses from any high point for VETAX and USAUX.

Drawdown Indicators

	VETAX	USAUX	Difference
Max Drawdown Largest peak-to-trough decline	-48.94%	-76.19%	+27.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.49%	-17.09%	+9.60%
Max Drawdown (3Y) Largest decline over 3 years	-20.47%	-25.97%	+5.50%
Max Drawdown (5Y) Largest decline over 5 years	-20.47%	-43.84%	+23.37%
Max Drawdown (10Y) Largest decline over 10 years	-41.04%	-43.84%	+2.80%
Current Drawdown Current decline from peak	-1.49%	-6.71%	+5.22%
Average Drawdown Average peak-to-trough decline	-6.31%	-26.64%	+20.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	5.81%	-3.46%

Volatility

VETAX vs. USAUX - Volatility Comparison

The current volatility for Victory Sycamore Established Value Fund Class A (VETAX) is 2.61%, while USAA Aggressive Growth Fund (USAUX) has a volatility of 5.35%. This indicates that VETAX experiences smaller price fluctuations and is considered to be less risky than USAUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VETAX	USAUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	5.35%	-2.74%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	13.86%	-5.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	17.75%	-5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	24.59%	-7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.17%	22.94%	-3.77%

VETAX vs. USAUX - Expense Ratio Comparison

VETAX has a 0.89% expense ratio, which is higher than USAUX's 0.63% expense ratio.

Dividends

VETAX vs. USAUX - Dividend Comparison

VETAX's dividend yield for the trailing twelve months is around 4.22%, less than USAUX's 4.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USAUX USAA Aggressive Growth Fund	4.31%	4.43%	5.15%	0.00%	2.37%	11.36%	0.18%	20.25%	18.58%	9.19%	7.42%	6.80%
VETAX Victory Sycamore Established Value Fund Class A	4.22%	4.31%	11.24%	5.86%	7.95%	8.10%	5.20%	5.81%	10.32%	3.03%	1.32%	11.27%

Frequently Asked Questions

Can I hold both VETAX and USAUX in my portfolio?

VETAX and USAUX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VETAX or USAUX?

USAUX has higher volatility (5.35%) compared to VETAX (2.61%). In terms of maximum drawdown, VETAX dropped -48.94% vs USAUX's -76.19%.

Which has better risk-adjusted returns?

VETAX currently has the higher Sharpe Ratio (1.31 vs 0.41), 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.