VSCVX vs. USNQX

Last updated Jun 6, 2026

VSCVX (Victory Integrity Small-Cap Value Fund) and USNQX (USAA Nasdaq 100 Index Fund) are both mutual funds - VSCVX is a Small Cap Value Equities fund managed by Victory, while USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Over the past 10 years, VSCVX returned 9.53%/yr vs 21.54%/yr for USNQX. A 0.70 correlation means they provide meaningful diversification when combined. VSCVX charges 1.45%/yr vs 0.42%/yr for USNQX.

Performance

VSCVX vs. USNQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Integrity Small-Cap Value Fund (VSCVX) and USAA Nasdaq 100 Index Fund (USNQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSCVX achieves a 19.23% return, which is significantly lower than USNQX's 20.57% return. Over the past 10 years, VSCVX has underperformed USNQX with an annualized return of 9.53%, while USNQX has yielded a comparatively higher 21.54% annualized return.

VSCVX

• 1D: 0.97%
• 1M: 1.94%
• YTD: 19.23%
• 6M: 18.57%
• 1Y: 39.13%
• 3Y*: 14.97%
• 5Y*: 7.20%
• 10Y*: 9.53%

USNQX

• 1D: -0.52%
• 1M: 6.39%
• YTD: 20.57%
• 6M: 18.43%
• 1Y: 41.48%
• 3Y*: 28.29%
• 5Y*: 17.55%
• 10Y*: 21.54%

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

VSCVX vs. USNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSCVX Victory Integrity Small-Cap Value Fund	19.23%	4.85%	4.32%	17.57%	-8.14%	32.74%	0.85%	22.62%	-19.13%	11.97%
USNQX USAA Nasdaq 100 Index Fund	20.57%	20.52%	25.42%	54.46%	-32.71%	26.82%	48.31%	38.86%	-0.43%	32.30%

Correlation

The correlation between VSCVX and USNQX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jul 23, 2004	0.70

The correlation between VSCVX and USNQX shifts across timeframes, from 0.51 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VSCVX vs. USNQX — Risk / Return Rank

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

VSCVX

VSCVX Risk / Return Rank: 67
VSCVX Sharpe Ratio Rank: 62
VSCVX Sortino Ratio Rank: 63
VSCVX Omega Ratio Rank: 54
VSCVX Calmar Ratio Rank: 85
VSCVX Martin Ratio Rank: 72

USNQX

USNQX Risk / Return Rank: 71
USNQX Sharpe Ratio Rank: 78
USNQX Sortino Ratio Rank: 67
USNQX Omega Ratio Rank: 65
USNQX Calmar Ratio Rank: 78
USNQX Martin Ratio Rank: 69

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.

VSCVX vs. USNQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Integrity Small-Cap Value Fund (VSCVX) and USAA Nasdaq 100 Index Fund (USNQX). 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.

	VSCVX	USNQX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.52	-0.28
Sortino ratio: Return per unit of downside risk	3.23	3.31	-0.08
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.04
Calmar ratio: Return relative to maximum drawdown	3.90	3.36	+0.54
Martin ratio: Return relative to average drawdown	13.15	12.85	+0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSCVX vs. USNQX - Sharpe Ratio Comparison

The current VSCVX Sharpe Ratio is 2.25, which is comparable to the USNQX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of VSCVX and USNQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VSCVX	USNQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.52	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.77	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.95	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.37	+0.01

Drawdowns

VSCVX vs. USNQX - Drawdown Comparison

The maximum VSCVX drawdown since its inception was -59.44%, smaller than the maximum USNQX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for VSCVX and USNQX.

Drawdown Indicators

	VSCVX	USNQX	Difference
Max Drawdown Largest peak-to-trough decline	-59.44%	-76.24%	+16.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.01%	-12.07%	+2.06%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	-22.88%	-5.63%
Max Drawdown (5Y) Largest decline over 5 years	-29.37%	-36.95%	+7.58%
Max Drawdown (10Y) Largest decline over 10 years	-52.59%	-36.95%	-15.64%
Current Drawdown Current decline from peak	0.00%	-0.80%	+0.80%
Average Drawdown Average peak-to-trough decline	-10.31%	-26.75%	+16.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.15%	-0.19%

Volatility

VSCVX vs. USNQX - Volatility Comparison

Victory Integrity Small-Cap Value Fund (VSCVX) and USAA Nasdaq 100 Index Fund (USNQX) have volatilities of 4.76% and 4.54%, 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

	VSCVX	USNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.54%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	12.19%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	17.42%	16.09%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.25%	22.88%	+1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.08%	22.65%	+3.43%

VSCVX vs. USNQX - Expense Ratio Comparison

VSCVX has a 1.45% expense ratio, which is higher than USNQX's 0.42% expense ratio.

Dividends

VSCVX vs. USNQX - Dividend Comparison

VSCVX's dividend yield for the trailing twelve months is around 0.58%, less than USNQX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USNQX USAA Nasdaq 100 Index Fund	2.50%	3.01%	2.19%	2.60%	4.13%	4.48%	1.53%	0.88%	0.69%	1.97%	0.50%	2.73%
VSCVX Victory Integrity Small-Cap Value Fund	0.58%	0.70%	18.80%	10.46%	14.07%	18.06%	0.09%	0.42%	14.93%	5.93%	0.00%	1.53%

Frequently Asked Questions

Can I hold both VSCVX and USNQX in my portfolio?

VSCVX and USNQX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSCVX or USNQX?

VSCVX has higher volatility (4.76%) compared to USNQX (4.54%). In terms of maximum drawdown, VSCVX dropped -59.44% vs USNQX's -76.24%.

Which has better risk-adjusted returns?

USNQX currently has the higher Sharpe Ratio (2.52 vs 2.25), 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.