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USAA Investments

shuttered its

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Aggressive Growth fund Friday, but launched a new fund with the same managers on Monday, as well as three stock index funds.

The $2.2 billion mid-cap growth fund shut its doors to new investors at the close of business last Friday, according to a Monday company announcement. The firm also trumpeted the roll out of the no-load

USAA Capital Growth

fund, which has Aggressive Growth fund managers John Cabell and Eric Efron at the helm and three no-load index funds that will track the

Wilshire 4500


Nasdaq 100

, and the

Dow Jones Global Titans


The Capital Growth fund can invest in companies of any size, but will probably lean toward small- and mid-cap fare. In choosing stocks for the portfolio Cabell and Efron will be looking for high earnings growth. The fund's 1.39% annual expense ratio is lower than the average mid-cap growth fund's 1.56%, according to



The pair's record on the Aggressive Growth fund has sagged a bit recently. Over the last five years -- they took the reins in 1995 -- the fund's 23.7% annualized return beats 65% of their mid-cap growth peers. But over the last year the fund, which had nearly half its assets in tech stocks on Sept. 30, is up 29%, which trails its average competitor.

And since Jan. 1 the fund is down 9.2%, trailing some 80% of its peers.


Extended Market Index

fund, which tracks the Wilshire 4500, will be run by

Merrill Lynch Quantitative Advisers

. The Wilshire 4500 essentially tracks the performance of every U.S.-listed stock, excluding those in the

S&P 500

. The fund's 0.5% expense ratio is double that of the

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Vanguard Extended Market Index fund, which also tracks the Wilshire 4500.


Nasdaq-100 Index

fund and the

Global Titans Index

fund will be subadvised by index-fund titan

Barclays Global Fund Advisors

. The Nasdaq 100 Index tracks the nonfinancial stocks traded on the Nasdaq. Essentially it's a tech fund with more than three-quarters of its assets in tech stocks. Its 0.85% expense ratio is half that of the average tech fund.

The Global Titans Index is comprised of the 50 largest multinational companies in the world. The fund's 0.85% expense is higher than the fledgling


E*Trade Global Titans Index fund's 0.6% expenses.