VEVIX vs. VETAX

Last updated Jun 24, 2026

VEVIX (Victory Sycamore Established Value Fund Class I) and VETAX (Victory Sycamore Established Value Fund Class A) are both Mid Cap Value Equities funds from Victory Capital. Both are actively managed. Over the past 10 years, VEVIX returned 11.39%/yr vs 11.04%/yr for VETAX. With a 1.00 correlation, they move nearly in lockstep. VEVIX charges 0.58%/yr vs 0.89%/yr for VETAX.

Performance

VEVIX vs. VETAX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with VEVIX having a 12.05% return and VETAX slightly lower at 11.90%. Both investments have delivered pretty close results over the past 10 years, with VEVIX having a 11.39% annualized return and VETAX not far behind at 11.04%.

VEVIX

• 1D: 0.24%
• 1M: 1.78%
• YTD: 12.05%
• 6M: 10.74%
• 1Y: 16.55%
• 3Y*: 11.62%
• 5Y*: 8.07%
• 10Y*: 11.39%

VETAX

• 1D: 0.26%
• 1M: 1.76%
• YTD: 11.90%
• 6M: 10.59%
• 1Y: 16.21%
• 3Y*: 11.22%
• 5Y*: 7.71%
• 10Y*: 11.04%

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

VEVIX vs. VETAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEVIX Victory Sycamore Established Value Fund Class I	12.05%	2.64%	10.12%	10.42%	-2.54%	31.92%	8.11%	28.80%	-10.05%	16.02%
VETAX Victory Sycamore Established Value Fund Class A	11.90%	2.15%	9.80%	10.06%	-2.85%	31.49%	7.79%	28.38%	-10.33%	15.67%

Correlation

The correlation between VEVIX and VETAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Mar 1, 2010	1.00

The correlation between VEVIX and VETAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

VEVIX vs. VETAX — Risk / Return Rank

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

VEVIX

VEVIX Risk / Return Rank: 33
VEVIX Sharpe Ratio Rank: 29
VEVIX Sortino Ratio Rank: 32
VEVIX Omega Ratio Rank: 27
VEVIX Calmar Ratio Rank: 42
VEVIX Martin Ratio Rank: 35

VETAX

VETAX Risk / Return Rank: 32
VETAX Sharpe Ratio Rank: 27
VETAX Sortino Ratio Rank: 30
VETAX Omega Ratio Rank: 26
VETAX Calmar Ratio Rank: 41
VETAX Martin Ratio Rank: 34

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.

VEVIX vs. VETAX - Risk-Adjusted Trends Comparison

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

	VEVIX	VETAX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.38	+0.03
Sortino ratio: Return per unit of downside risk	2.16	2.12	+0.04
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	2.36	2.31	+0.06
Martin ratio: Return relative to average drawdown	7.37	7.16	+0.20

VEVIX vs. VETAX - Sharpe Ratio Comparison

The current VEVIX Sharpe Ratio is 1.41, which is comparable to the VETAX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of VEVIX and VETAX, 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

VEVIX vs. VETAX - Drawdown Comparison

The maximum VEVIX drawdown since its inception was -41.01%, smaller than the maximum VETAX drawdown of -48.94%. Use the drawdown chart below to compare losses from any high point for VEVIX and VETAX.

Drawdown Indicators

	VEVIX	VETAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.01%	-48.94%	+7.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.46%	-7.49%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-20.28%	-20.47%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-20.28%	-20.47%	+0.19%
Max Drawdown (10Y) Largest decline over 10 years	-41.01%	-41.04%	+0.03%
Current Drawdown Current decline from peak	-1.19%	-1.17%	-0.02%
Average Drawdown Average peak-to-trough decline	-4.24%	-6.33%	+2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.41%	-0.02%

Volatility

VEVIX vs. VETAX - Volatility Comparison

Victory Sycamore Established Value Fund Class I (VEVIX) and Victory Sycamore Established Value Fund Class A (VETAX) have volatilities of 3.35% and 3.34%, 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.

Volatility by Period

	VEVIX	VETAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	3.34%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	8.91%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	12.52%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	16.99%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	19.26%	-0.01%

VEVIX vs. VETAX - Expense Ratio Comparison

VEVIX has a 0.58% expense ratio, which is lower than VETAX's 0.89% expense ratio.

Dividends

VEVIX vs. VETAX - Dividend Comparison

VEVIX's dividend yield for the trailing twelve months is around 4.60%, more than VETAX's 4.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VETAX Victory Sycamore Established Value Fund Class A	4.31%	4.31%	11.24%	5.86%	7.95%	8.10%	5.20%	5.81%	10.32%	3.03%	1.32%	11.27%
VEVIX Victory Sycamore Established Value Fund Class I	4.60%	4.77%	11.58%	6.16%	8.27%	8.39%	5.47%	6.11%	10.68%	3.30%	1.48%	11.57%

Frequently Asked Questions

Can I hold both VEVIX and VETAX in my portfolio?

With a correlation of 1.00, VEVIX and VETAX 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, VEVIX or VETAX?

VEVIX has higher volatility (3.35%) compared to VETAX (3.34%). In terms of maximum drawdown, VEVIX dropped -41.01% vs VETAX's -48.94%.

Which has better risk-adjusted returns?

VEVIX currently has the higher Sharpe Ratio (1.41 vs 1.38), 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.