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USIBX USAA Intermediate-Term Bond

  • Fund
  • USIBX
  • Price as of: Mar 25, 2019
  • $10.50
  • + $0.01
  • + 0.10%
  • Category
  • Total Bond Market

USIBX - Profile

Vitals

  • YTD Return 3.1%
  • 3 Yr Annualized Return 4.3%
  • 5 Yr Annualized Return 2.9%
  • Net Assets $3.69 B
  • Holdings in Top 10 7.9%

52 WEEK LOW AND HIGH

$10.50
$10.14
$10.50

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.63%

SALES FEES

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

BROKERAGE FEES

  • Turnover 15.00%

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 Corporate Bond

Distributions

  • YTD Total Return 3.1%
  • 3 Yr Annualized Total Return 4.3%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.50%
DIVIDENDS
  • Dividend Yield 0.4%
  • 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 3.1% -50.9% 14.2% 11.35% 1
1 Yr 2.6% -15.5% 21.5% 28.29% 2
3 Yr 4.3% * -6.1% 17.3% 13.00% 1
5 Yr 2.9% * -2.4% 14.8% 12.29% 1
10 Yr 7.7% * -0.7% 11.9% 4.20% 1

* Annualized


Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -4.5% -36.6% 9.9% 53.93% 4
2017 2.3% -11.1% 25.1% 11.61% 1
2016 2.7% -13.3% 192.8% 10.55% 1
2015 -6.3% -33.0% 20.8% 62.80% 5
2014 1.4% -9.3% 20.7% 29.31% 3

Total Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.1% -100.0% 14.2% 11.39% 1
1 Yr 2.6% -15.5% 21.5% 24.28% 2
3 Yr 4.3% * -7.0% 17.3% 11.83% 1
5 Yr 2.9% * -2.9% 14.8% 10.88% 1
10 Yr 7.7% * -0.7% 11.9% 4.13% 1

* Annualized


Total Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -4.5% -36.6% 9.9% 54.57% 4
2017 2.3% -11.1% 25.1% 12.55% 1
2016 2.7% -9.0% 195.3% 19.96% 2
2015 -6.2% -32.5% 58.5% 72.41% 5
2014 1.6% -8.3% 58.3% 44.15% 3

NAV & Total Return History

USIBX - Holdings

Filings data as of: Jan 31, 2019

Concentration Analysis

USIBX Category Low Category High USIBX % Rank Quintile
Net Assets 3.69 B 319 K 210 B 7.02% 2
Number of Holdings 664 1 17322 10.64% 2
Net Assets in Top 10 295 M -36 B 52.1 B 10.94% 2
Weighting of Top 10 7.9% 0.0% 1188.2% 32.98% 5

Top 10 Holdings

  1. United States Treasury Notes 2.38% 1.26%
  2. United States Treasury Bonds 2.5% 1.21%
  3. Us 10yr Note (Cbt)mar19 Xcbt 20190320 1.14%
  4. Us Long Bond(Cbt) Mar19 Xcbt 20190320 1.06%
  5. QBE Capital Funding III Ltd 7.25% 0.56%
  6. Penske Truck Leasing Co., L.P. 4.25% 0.54%
  7. Nationwide Mutual Insurance Company 5.08% 0.54%
  8. Federal Home Loan Mortgage Corporation 2.65% 0.52%
  9. United States Treasury Bonds 2.75% 0.51%
  10. Verizon Communications Inc. 4.5% 0.54%

Asset Allocation

Weighting Category Low Category High USIBX % Rank Quintile
Bonds
93.39% -332.46% 611.62% 17.24% 3
Cash
3.28% -517.20% 439.76% 18.58% 3
Preferred Stocks
1.60% -0.17% 22.15% 2.04% 1
Convertible Bonds
1.41% 0.00% 28.21% 3.51% 1
Other
0.18% -147.36% 99.99% 9.21% 2
Stocks
0.13% -2.63% 98.80% 4.68% 1

Stock Sector Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
Financial Services
0.13% -0.63% 20.19% 5.77% 1
Utilities
0.00% -0.14% 6.86% 4.81% 2
Technology
0.00% -1.56% 21.00% 5.10% 2
Real Estate
0.00% -0.15% 10.84% 5.29% 2
Industrials
0.00% -0.42% 11.47% 5.68% 2
Healthcare
0.00% -0.69% 16.35% 4.72% 2
Energy
0.00% -0.88% 11.46% 5.77% 2
Communication Services
0.00% -0.07% 3.94% 4.52% 2
Consumer Defense
0.00% -0.29% 11.28% 4.23% 2
Consumer Cyclical
0.00% -0.43% 11.75% 5.58% 2
Basic Materials
0.00% -0.43% 7.06% 4.14% 2

Stock Geographic Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
Non US
0.13% -1.57% 93.56% 2.44% 1
US
0.00% -2.63% 96.34% 4.83% 2

Bond Sector Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
Corporate
74.65% 0.00% 221.70% 1.12% 1
Securitized
10.71% 0.00% 118.59% 27.99% 5
Government
7.15% -389.49% 503.27% 24.83% 4
Municipal
3.90% 0.00% 99.00% 3.72% 1
Cash & Equivalents
0.97% -790.54% 441.64% 23.46% 4
Derivative
0.00% -199.13% 272.90% 4.33% 2

Bond Geographic Breakdown

Weighting Category Low Category High USIBX % Rank Quintile
US
75.74% -370.09% 500.82% 21.12% 4
Non US
17.65% -171.42% 351.70% 9.01% 2

USIBX - Expenses

Operational Fees

USIBX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.63% 0.00% 38.42% 11.15% 2
Management Fee 0.34% 0.00% 2.15% 3.15% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.15% 0.00% 0.63% 1.82% 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 15.00% 0.00% 2337.00% 18.27% 1

USIBX - Distributions

Dividend Yield Analysis

USIBX Category Low Category High USIBX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.75% 9.22% 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 3.50% -1.56% 7.22% 5.96% 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

12.16

Tenure Rank

2.3%

JULIANNE BASS, CFA, is 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

5.25

Tenure Rank

6.3%

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

2.32

Tenure Rank

8.7%

CFA, Senior Vice President, Chief Investment Officer of USAA Investments, has co-managed the Fund since November 2016. Mr. Spear has managed the USAA Life Insurance Portfolio since November 1999 and has supervised the USAA fixed-income portfolio management team since May 2012.Education: B.B.A., Western Illinois 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

2.32

Tenure Rank

8.7%

Kurt Daum, J.D., Executive Director of Mutual Funds Portfolios, focusing on all areas of fixed-income research, has co-managed the Fund since November 2016. 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

30.2

Category Average

6.59

Category Mode

4.2