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USAIX USAA Income

  • Fund
  • USAIX
  • Price as of: Aug 08, 2016
  • $13.34
  • + $0.01
  • + 0.08%
  • Category
  • Total Bond Market

USAIX - Profile

Vitals

  • YTD Return 5.9%
  • 3 Yr Annualized Return 4.6%
  • 5 Yr Annualized Return 4.4%
  • Net Assets $6.67 B
  • Holdings in Top 10 9.3%

52 WEEK LOW AND HIGH

$13.34
$12.58
$13.41

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.53%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 10.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

N/A

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate-Term Bond

Distributions

  • YTD Total Return 5.9%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.36%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name USAA Income Fund
  • Fund Family Name USAA
  • Inception Date Mar 04, 1974
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Julianne Bass

Fund Description

The USAA Income Fund (USAIX) is an actively managed fund designed to provide high current income. USAIX does this by investing in various bonds with an emphasis on investment-grade debt. This includes Treasuries, corporates, mortgage-backed securities as well as investment-grade sovereigns and foreign corporate bonds. The fund employs fundamental analysis to help balance risk and find undervalued junk bonds.

USAIX features low expenses and makes an ideal core position for investors in a diversified fixed-income portfolio. The fund is managed by USAA Asset Management Company.

USAIX - Performance

Return Ranking - Trailing

Period USAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.9% -29.9% 209.8% 5.89% 1
1 Yr 6.9% -15.9% 20.3% 3.36% 1
3 Yr 4.6% * -6.4% 10.4% 9.00% 1
5 Yr 4.4% * -3.4% 9.0% 11.96% 1
10 Yr 5.7% * -1.1% 10.2% 14.68% 1

* Annualized


Return Ranking - Calendar

Period USAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -4.5% -51.0% 6.6% 55.10% 4
2014 N/A -0.4% 2.9% N/A N/A
2013 N/A -4.9% -0.8% N/A N/A
2012 N/A 0.8% 13.9% N/A N/A
2011 N/A -1.7% 3.8% N/A N/A

Total Return Ranking - Trailing

Period USAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.9% -8.1% 209.8% 5.99% 1
1 Yr 6.9% -19.0% 20.3% 2.75% 1
3 Yr 4.6% * -7.1% 10.4% 7.88% 1
5 Yr 4.4% * -4.3% 9.0% 10.78% 1
10 Yr 5.7% * -1.1% 10.2% 13.84% 1

* Annualized


Total Return Ranking - Calendar

Period USAIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -4.5% -51.0% 6.6% 55.16% 4
2014 N/A -0.3% 4.5% N/A N/A
2013 N/A -4.6% 0.6% N/A N/A
2012 N/A 1.4% 15.7% N/A N/A
2011 N/A -0.9% 5.5% N/A N/A

NAV & Total Return History

USAIX - Holdings

Filings data as of: Apr 30, 2016

Concentration Analysis

USAIX Category Low Category High USAIX % Rank Quintile
Net Assets 6.67 B 319 K 169 B 3.15% 1
Number of Holdings 830 1 17404 6.82% 2
Net Assets in Top 10 592 M -36 B 21.5 B 5.44% 2
Weighting of Top 10 9.3% 0.0% 1826.2% 28.28% 5

Top 10 Holdings

  1. US Treasury Note 2% 1.28%
  2. US Treasury Note 3.625% 1.21%
  3. US Treasury Bond 1.07%
  4. US Treasury Bond 2.5% 1.07%
  5. US Treasury Note 2.625% 0.92%
  6. US Treasury Bond 2.5% 0.91%
  7. US Treasury Note 3.5% 0.77%
  8. US Treasury Note 1.625% 0.77%
  9. US Treasury Bond 3% 0.67%
  10. US Treasury Bond 2.75% 0.65%

Asset Allocation

Weighting Category Low Category High USAIX % Rank Quintile
Bonds
90.69% -175.98% 181.87% 12.82% 3
Preferred Stocks
3.01% -0.07% 17.65% 1.42% 1
Other
2.55% -15.97% 117.15% 5.85% 2
Cash
2.38% -82.73% 275.92% 24.21% 5
Stocks
0.86% -5.60% 98.06% 3.20% 1
Convertible Bonds
0.49% 0.00% 18.40% 3.10% 1

Stock Sector Breakdown

Weighting Category Low Category High USAIX % Rank Quintile
Financial Services
0.21% -0.33% 16.93% 6.26% 1
Utilities
0.18% -0.10% 2.90% 3.64% 1
Real Estate
0.13% -0.41% 16.08% 4.66% 1
Energy
0.08% -0.88% 10.95% 4.21% 1
Communication Services
0.06% -0.13% 8.73% 3.53% 1
Technology
0.06% -3.22% 16.08% 4.21% 1
Healthcare
0.05% -0.99% 15.02% 3.98% 1
Consumer Defense
0.05% -0.26% 12.32% 4.44% 1
Industrials
0.04% -0.98% 13.17% 4.66% 1
Consumer Cyclical
0.00% -0.90% 11.86% 5.23% 2
Basic Materials
0.00% -0.43% 11.57% 4.44% 2

Stock Geographic Breakdown

Weighting Category Low Category High USAIX % Rank Quintile
US
0.73% -4.66% 90.98% 3.00% 1
Non US
0.13% -1.18% 97.59% 2.34% 1

Bond Sector Breakdown

Weighting Category Low Category High USAIX % Rank Quintile
Corporate
57.45% 0.00% 502.59% 3.05% 1
Government
14.85% -990.83% 129.84% 17.24% 3
Securitized
14.04% 0.00% 275.57% 23.30% 4
Municipal
7.86% 0.00% 106.20% 1.73% 1
Cash & Equivalents
2.38% -63.55% 811.66% 25.03% 5
Derivative
0.00% -895.14% 18.41% 2.14% 1

Bond Geographic Breakdown

Weighting Category Low Category High USAIX % Rank Quintile
US
77.66% -513.97% 163.91% 14.34% 3
Non US
13.03% -5.42% 399.20% 12.00% 2

USAIX - Expenses

Operational Fees

USAIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.53% 0.00% 42.51% 12.06% 1
Management Fee 0.22% 0.00% 2.15% 3.97% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.15% 0.00% 0.63% 1.65% 4

Sales Fees

USAIX Fees (% of AUM) Category Low Category High USAIX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

USAIX Fees (% of AUM) Category Low Category High USAIX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

USAIX Fees (% of AUM) Category Low Category High USAIX Rank Quintile
Turnover 10.00% 0.00% 1944.00% 16.64% 1

USAIX - Distributions

Dividend Yield Analysis

USAIX Category Low Category High USAIX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.30% 7.74% 1

Dividend Distribution Analysis

USAIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

USAIX Category Low Category High USAIX % Rank Quintile
Net Income Ratio 3.36% -1.76% 17.13% 6.51% 1

Capital Gain Distribution Analysis

USAIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

USAIX - Managers

Julianne Bass

Manager

Start Date

Jul 16, 2012

Tenure

4.04

Tenure Rank

5.9%

JULIANNE BASS, CFA, assistant vice president and portfolio manager. Education: B.B.A., University of Texas at Austin; M.B.A., University of Houston. She holds the CFA designation and is a member of the CFA Institute and the CFA Society of San Antonio.


Brian W. Smith

Manager

Start Date

Dec 01, 2013

Tenure

2.67

Tenure Rank

7.0%

Brian W. Smith, CFA, CPA, Executive Director Mutual Funds Portfolios. Mr. Smith has started to engage in investment management and worked for USAA since 1999 and 1985, respectively. Education: B.B.A., University of Texas at San Antonio, M.B.A., University of Texas at San Antonio. He is a member of the CFA Institute and the CFA Society of San Antonio.


R. Matthew Freund

Manager

Start Date

Jul 16, 2012

Tenure

4.04

Tenure Rank

5.9%

Freund, CFA, is Portfolio Manager and Senior Vice President with United Services Automobile Association, his employer since 1994. With 21 years of investment management experience, Freund is a member of the Association for Investment Management and Research, the San Antonio Financial Analysts Society, Inc., the CFA Institute, and the CFA Society of San Antonio. He received a B.A. from Franklin & Marshall College and an M.B.A. from Indiana University.


Tenure Analysis

Category Low

0.0

Category High

27.6

Category Average

5.91

Category Mode

1.6