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USIBX USAA Intermediate-Term Bond

  • Fund
  • USIBX
  • Price as of: Dec 09, 2016
  • $10.39
  • - $0.03
  • - 0.29%
  • Category
  • Total Bond Market

USIBX - Profile

Vitals

  • YTD Return 2.4%
  • 3 Yr Annualized Return 3.1%
  • 5 Yr Annualized Return 4.6%
  • Net Assets $3.7 B
  • Holdings in Top 10 9.5%

52 WEEK LOW AND HIGH

$10.39
$10.09
$10.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.62%

SALES FEES

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

BROKERAGE FEES

  • Turnover 18.00%

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 2.4%
  • 3 Yr Annualized Total Return 3.1%
  • 5 Yr Annualized Total Return 4.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.08%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name USAA Intermediate Term Bond Fund
  • Fund Family Name USAA
  • Inception Date Aug 02, 1999
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Julianne Bass

Fund Description

The USAA Intermediate-Term Bond Fund (USIBX) is an actively managed portfolio designed to provide high current income within its investment framework. The fund invests in intermediate-term bonds with maturities of three to 10 years. These include corporate bonds and U.S. Treasuries. USIBX aims to outperform its benchmark on return and yield through fundamental credit research and selection.

Given its mandate to focus on the bond market, USIBX makes a prime core choice for any fixed-income portfolio. The fund is internally managed by USAA Investment Management.

USIBX - Performance

Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.4% -11.3% 201.5% 13.43% 1
1 Yr 4.8% -12.6% 13.8% 10.91% 1
3 Yr 3.1% * -5.9% 8.2% 14.40% 1
5 Yr 4.6% * -3.1% 13.6% 7.92% 1
10 Yr 5.5% * -2.2% 9.5% 6.83% 1

* Annualized


Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -6.3% -33.0% 3.0% 59.46% 5
2014 1.4% -9.3% 14.9% 27.32% 2
2013 -3.0% -24.1% 40.4% 27.77% 3
2012 5.9% -100.0% 18.7% 8.80% 1
2011 0.9% -20.6% 15.5% 31.16% 3

Total Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.4% -9.9% 204.3% 23.42% 2
1 Yr 4.8% -12.6% 16.3% 8.50% 1
3 Yr 3.1% * -7.2% 8.2% 12.86% 1
5 Yr 4.6% * -3.9% 13.6% 7.08% 1
10 Yr 5.5% * -2.2% 9.5% 6.27% 1

* Annualized


Total Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -6.2% -32.5% 4.5% 69.57% 5
2014 1.6% -8.3% 16.8% 43.68% 3
2013 -3.0% -12.9% 58.5% 48.37% 4
2012 6.1% -100.0% 35.2% 28.42% 2
2011 0.9% -20.7% 18.1% 48.47% 3

NAV & Total Return History

USIBX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

USIBX Category Low Category High USIBX % Rank Quintile
Net Assets 3.7 B 319 K 176 B 5.70% 2
Number of Holdings 626 1 17569 9.21% 2
Net Assets in Top 10 371 M -36 B 36.7 B 8.09% 2
Weighting of Top 10 9.5% 0.0% 1167.9% 29.45% 5

Top 10 Holdings

  1. Us 10yr Note (Cbt)dec16 Xcbt 20161220 1.94%
  2. US Treasury Note 1.625% 1.89%
  3. US Treasury Bond 2.5% 1.26%
  4. US Treasury Note 2.25% 1.06%
  5. Qbe Cap Fdg Iii 144A FRN 0.58%
  6. FHLMC CMO 3.308% 0.56%
  7. Cc Hldgs Gs V Llc/ Crown Castl 3.849% 0.57%
  8. Charter Comms Oper 144A 4.908% 0.55%
  9. US Treasury Bond 4.5% 0.55%
  10. Penske Truck Leasing Co L P 144A 4.25% 0.55%

Asset Allocation

Weighting Category Low Category High USIBX % Rank Quintile
Bonds
92.02% -175.98% 1241.14% 16.17% 3
Preferred Stocks
3.66% -0.45% 17.66% 1.02% 1
Other
1.89% -30.13% 98.36% 7.32% 2
Cash
1.88% -1141.94% 275.92% 21.77% 4
Stocks
0.29% -3.27% 98.55% 4.63% 1
Convertible Bonds
0.27% 0.00% 12.73% 4.27% 1

Stock Sector Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
Financial Services
0.16% -0.51% 18.48% 6.61% 1
Utilities
0.00% -0.13% 4.35% 5.29% 2
Real Estate
0.00% -0.28% 15.77% 4.63% 2
Industrials
0.00% -0.83% 11.30% 5.18% 2
Healthcare
0.00% -0.69% 11.85% 4.41% 1
Technology
0.00% -1.56% 19.47% 5.18% 2
Energy
0.00% -0.88% 10.43% 5.40% 2
Communication Services
0.00% -0.57% 7.99% 3.85% 2
Consumer Defense
0.00% -0.34% 13.63% 4.85% 2
Consumer Cyclical
0.00% -0.36% 11.97% 5.84% 2
Basic Materials
0.00% -0.43% 11.11% 5.07% 2

Stock Geographic Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
Non US
0.16% -1.06% 96.95% 2.34% 1
US
0.13% -2.63% 92.41% 4.83% 1

Bond Sector Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
Corporate
73.24% 0.00% 221.70% 1.27% 1
Securitized
10.74% 0.00% 105.84% 25.79% 5
Government
8.09% -389.49% 1167.69% 22.38% 4
Municipal
3.81% 0.00% 98.41% 4.32% 1
Cash & Equivalents
0.65% -1141.94% 416.01% 24.52% 4
Derivative
0.00% -513.07% 38.63% 2.39% 1

Bond Geographic Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
US
75.73% -370.09% 982.00% 18.41% 3
Non US
16.29% -45.82% 351.70% 11.19% 2

USIBX - Expenses

Operational Fees

USIBX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.62% 0.00% 42.51% 11.50% 2
Management Fee 0.30% 0.00% 2.15% 3.41% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.15% 0.00% 0.63% 1.66% 4

Sales Fees

USIBX Fees (% of AUM) Category Low Category High USIBX 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

USIBX Fees (% of AUM) Category Low Category High USIBX 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.

USIBX Fees (% of AUM) Category Low Category High USIBX Rank Quintile
Turnover 18.00% 0.00% 1856.00% 16.18% 1

USIBX - Distributions

Dividend Yield Analysis

USIBX Category Low Category High USIBX % Rank Quintile
Dividend Yield 0.5% 0.00% 1.30% 5.84% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

USIBX Category Low Category High USIBX % Rank Quintile
Net Income Ratio 4.08% -1.76% 17.13% 4.22% 1

Capital Gain Distribution Analysis

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

USIBX - Managers

Julianne Bass

Manager

Start Date

Jan 04, 2007

Tenure

9.91

Tenure Rank

2.9%

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

3.0

Tenure Rank

6.9%

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.


John Spear

Manager

Start Date

Nov 04, 2016

Tenure

0.07

Tenure Rank

9.2%

John Spear, CFA, Vice President of Long-Term Fixed Income. He has managed the USAA Life Insurance Portfolio since November 1999, and has supervised the USAA fixed-income portfolio management team since May 2012. Mr. Spear has 30 years of investment management experience and has worked for us for 19 years. Education: B.B.A., Western Illinois University; M.B.A., Butler University. He holds the CFA designation and is a member of the CFA Institute and the CFA Society of San Antonio.


Kurt Daum

Manager

Start Date

Nov 04, 2016

Tenure

0.07

Tenure Rank

9.2%

Kurt Daum, JD, Director of Research, focusing on all areas of fixed-income research. Mr. Daum has 15 years of investment management experience and has worked for us for three years. Prior to joining USAA, he was a Director at Highland Capital Management focused on fixed income and private equity investing from January 2009 until November 2013. Education: B.B.A., University of Texas at Austin; J.D., University of Texas School of Law.


Tenure Analysis

Category Low

0.0

Category High

27.9

Category Average

6.12

Category Mode

1.9