VICEX vs. GQFPX

Last updated Aug 1, 2026

VICEX (USA Mutuals Vice Fund) and GQFPX (GQG Partners Global Quality Dividend Income Fund) are both mutual funds - VICEX is a Global Equities fund managed by USA Mutuals, while GQFPX is a Quality Factor fund managed by GQG Partners. Over the past 5 years, VICEX returned 5.03%/yr vs 10.72%/yr for GQFPX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. VICEX charges 1.59%/yr vs 0.86%/yr for GQFPX.

Performance

VICEX vs. GQFPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USA Mutuals Vice Fund (VICEX) and GQG Partners Global Quality Dividend Income Fund (GQFPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VICEX achieves a 8.80% return, which is significantly lower than GQFPX's 11.60% return.

VICEX

• 1D: 0.17%
• 1M: 2.13%
• 6M: 2.26%
• YTD: 8.80%
• 1Y: 13.08%
• 3Y*: 8.73%
• 5Y*: 5.03%
• 10Y*: 5.33%
• ALL TIME*: 8.07%

GQFPX

• 1D: -0.07%
• 1M: 3.13%
• 6M: 4.87%
• YTD: 11.60%
• 1Y: 18.02%
• 3Y*: 13.78%
• 5Y*: 10.72%
• 10Y*: —
• ALL TIME*: 10.59%

*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)
GQFPX GQG Partners Global Quality Dividend Income Fund	$0.00	$0.00	$0.00
VICEX USA Mutuals Vice Fund	$0.00	$0.00	$0.00

VICEX vs. GQFPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VICEX USA Mutuals Vice Fund	8.80%	20.25%	4.40%	-2.18%	3.41%	-9.98%
GQFPX GQG Partners Global Quality Dividend Income Fund	11.60%	19.29%	4.81%	15.09%	-1.13%	5.03%

Correlation

The correlation between VICEX and GQFPX is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.58
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021	0.58

The correlation between VICEX and GQFPX shifts across timeframes, from 0.46 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VICEX vs. GQFPX — Risk / Return Rank

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

VICEX

VICEX Risk / Return Rank: 24
VICEX Sharpe Ratio Rank: 26
VICEX Sortino Ratio Rank: 26
VICEX Omega Ratio Rank: 26
VICEX Calmar Ratio Rank: 23
VICEX Martin Ratio Rank: 20

GQFPX

GQFPX Risk / Return Rank: 70
GQFPX Sharpe Ratio Rank: 74
GQFPX Sortino Ratio Rank: 73
GQFPX Omega Ratio Rank: 68
GQFPX Calmar Ratio Rank: 83
GQFPX Martin Ratio Rank: 52

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.

VICEX vs. GQFPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USA Mutuals Vice Fund (VICEX) and GQG Partners Global Quality Dividend Income Fund (GQFPX). 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.

	VICEX	GQFPX	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.73	-0.83
Sortino ratio: Return per unit of downside risk	1.32	2.48	-1.16
Omega ratio: Gain probability vs. loss probability	1.16	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	1.06	2.80	-1.74
Martin ratio: Return relative to average drawdown	2.72	7.14	-4.42

VICEX vs. GQFPX - Sharpe Ratio Comparison

The current VICEX Sharpe Ratio is 0.89, which is lower than the GQFPX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of VICEX and GQFPX, 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

VICEX vs. GQFPX - Drawdown Comparison

The maximum VICEX drawdown since its inception was -54.58%, which is greater than GQFPX's maximum drawdown of -16.95%. Use the drawdown chart below to compare losses from any high point for VICEX and GQFPX.

Drawdown Indicators

	VICEX	GQFPX	Difference
Max Drawdown Largest peak-to-trough decline	-54.58%	-16.95%	-37.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-6.28%	-4.51%
Max Drawdown (3Y) Largest decline over 3 years	-12.35%	-10.57%	-1.78%
Max Drawdown (5Y) Largest decline over 5 years	-19.69%	-16.95%	-2.74%
Max Drawdown (10Y) Largest decline over 10 years	-40.91%	—	—
Current Drawdown Current decline from peak	-1.71%	-1.46%	-0.25%
Average Drawdown Average peak-to-trough decline	-10.41%	-3.03%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	2.45%	+1.77%

Volatility

VICEX vs. GQFPX - Volatility Comparison

USA Mutuals Vice Fund (VICEX) and GQG Partners Global Quality Dividend Income Fund (GQFPX) have volatilities of 3.24% and 3.28%, 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

	VICEX	GQFPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	3.28%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	8.32%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	10.18%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.34%	12.78%	+0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	12.81%	+2.74%

VICEX vs. GQFPX - Expense Ratio Comparison

VICEX has a 1.59% expense ratio, which is higher than GQFPX's 0.86% expense ratio.

Dividends

VICEX vs. GQFPX - Dividend Comparison

VICEX's dividend yield for the trailing twelve months is around 12.22%, more than GQFPX's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQFPX GQG Partners Global Quality Dividend Income Fund	5.52%	5.32%	3.71%	3.69%	5.18%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VICEX USA Mutuals Vice Fund	12.22%	13.30%	5.70%	10.54%	8.24%	16.06%	3.99%	4.76%	1.02%	3.15%	20.81%	1.21%

Frequently Asked Questions

Can I hold both VICEX and GQFPX in my portfolio?

VICEX and GQFPX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VICEX or GQFPX?

GQFPX has higher volatility (3.28%) compared to VICEX (3.24%). In terms of maximum drawdown, VICEX dropped -54.58% vs GQFPX's -16.95%.

Which has better risk-adjusted returns?

GQFPX currently has the higher Sharpe Ratio (1.73 vs 0.89), 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.