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Trending ETFs

Name

As of 11/27/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

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Vitals

YTD Return

5.4%

1 yr return

6.0%

3 Yr Avg Return

2.1%

5 Yr Avg Return

2.4%

Net Assets

$321 M

Holdings in Top 10

6.3%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 57.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/27/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

URUSX - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 2.1%
  • 5 Yr Annualized Total Return 2.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.09%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Victory Ultra Short-Term Bond Fund (Formerly USAA Ultra Short-Term Bond Fund)
  • Fund Family Name
    Victory Portfolios III
  • Inception Date
    Mar 02, 2017
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Smith

Fund Description

The Fund’s principal investment strategy is normally to invest at least 80% of the Fund’s assets in investment-grade debt securities that have a dollar-weighted average portfolio maturity of 18 months (one and a half years) or less. The Fund invests primarily in U.S. dollar-denominated debt securities that may include, but are not limited to, obligations of U.S., state, and local governments, their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; Yankee obligations; and other securities believed to have debt-like characteristics. This 80% policy may be changed upon at least 60 days’ prior written notice to shareholders.In addition, the Fund may invest up to 10% of its net assets in securities that at the time of purchase are below-investment-grade securities, which are sometimes referred to as high-yield or “junk” bonds. 
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URUSX - Performance

Return Ranking - Trailing

Period URUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -1.3% 10.7% 13.45%
1 Yr 6.0% -1.4% 12.1% 14.80%
3 Yr 2.1%* -2.3% 5.0% 13.33%
5 Yr 2.4%* -1.0% 3.8% 7.53%
10 Yr N/A* -4.8% 3.3% 5.97%

* Annualized

Return Ranking - Calendar

Period URUSX Return Category Return Low Category Return High Rank in Category (%)
2022 -2.6% -6.5% 0.5% 64.81%
2021 -0.1% -2.1% 0.3% 13.81%
2020 0.8% -3.1% 1.8% 15.92%
2019 1.7% -1.2% 6.1% 4.74%
2018 -0.9% -51.1% 0.4% 77.58%

Total Return Ranking - Trailing

Period URUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% -1.3% 10.7% 13.45%
1 Yr 6.0% -1.4% 12.1% 14.80%
3 Yr 2.1%* -2.3% 5.0% 13.33%
5 Yr 2.4%* -1.0% 3.8% 7.53%
10 Yr N/A* -4.8% 3.3% 5.97%

* Annualized

Total Return Ranking - Calendar

Period URUSX Return Category Return Low Category Return High Rank in Category (%)
2022 -0.3% -5.1% 2.5% 59.26%
2021 1.0% -2.1% 14.5% 9.52%
2020 3.3% -1.0% 4.4% 1.99%
2019 3.5% 0.3% 9.6% 23.16%
2018 1.5% -49.9% 2.3% 55.15%

NAV & Total Return History


URUSX - Holdings

Concentration Analysis

URUSX Category Low Category High URUSX % Rank
Net Assets 321 M 25.4 K 31.2 B 70.48%
Number of Holdings 423 2 1321 22.91%
Net Assets in Top 10 20.2 M 28.2 K 22.7 B 88.11%
Weighting of Top 10 6.34% 6.1% 128.7% 96.48%

Top 10 Holdings

  1. ENTERPRISE PRODUCTS OPER 0.94%
  2. GLOBAL PAYMENTS INC 0.94%
  3. ARIZONA PUBLIC SERVICE 0.78%
  4. HANNOVER FUNDING CO LLC 0.63%
  5. SPIRIT AIRLINES PTT 2015 1B 0.54%
  6. SOCIETE GENERALE SA 0.53%
  7. CITIZENS BANK NA PROVIDENCE RI 0.52%
  8. ATHENE GLOBAL FUNDING 0.50%
  9. KEYCORP 0.49%
  10. BBCMS 2020 BID MORTGAGE TRUST 0.48%

Asset Allocation

Weighting Return Low Return High URUSX % Rank
Bonds
87.58% 0.00% 127.83% 39.65%
Cash
14.37% 0.00% 101.58% 20.70%
Convertible Bonds
4.60% 0.00% 15.25% 35.84%
Stocks
0.00% 0.00% 96.56% 92.95%
Preferred Stocks
0.00% 0.00% 0.00% 92.51%
Other
0.00% -22.77% 99.80% 92.07%

Bond Sector Breakdown

Weighting Return Low Return High URUSX % Rank
Corporate
43.82% 0.00% 99.91% 39.82%
Securitized
32.60% 0.00% 100.00% 39.38%
Cash & Equivalents
14.37% 0.00% 101.58% 20.26%
Municipal
13.79% 0.00% 70.39% 3.54%
Government
0.32% 0.00% 100.00% 65.49%
Derivative
0.00% -22.77% 36.69% 75.77%

Bond Geographic Breakdown

Weighting Return Low Return High URUSX % Rank
US
87.58% 0.00% 127.83% 38.77%
Non US
0.00% 0.00% 22.89% 92.51%

URUSX - Expenses

Operational Fees

URUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.49% 0.02% 28.11% 50.22%
Management Fee 0.33% 0.00% 1.19% 75.33%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.05% 0.01% 0.40% 17.00%

Sales Fees

URUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

URUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% N/A

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.

URUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 57.00% 0.00% 369.54% 35.26%

URUSX - Distributions

Dividend Yield Analysis

URUSX Category Low Category High URUSX % Rank
Dividend Yield 5.37% 0.00% 7.20% 29.20%

Dividend Distribution Analysis

URUSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

URUSX Category Low Category High URUSX % Rank
Net Income Ratio 1.09% -1.30% 14.86% 10.50%

Capital Gain Distribution Analysis

URUSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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URUSX - Fund Manager Analysis

Managers

Brian Smith


Start Date

Tenure

Tenure Rank

May 01, 2018

4.08

4.1%

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.

Douglas Rollwitz


Start Date

Tenure

Tenure Rank

May 01, 2018

4.08

4.1%

Douglas J. Rollwitz, CFA, CPA, is Assistant Investment Portfolio Manager at USAA Asset Management Company. Mr. Rollwitz has worked for us for 21 years. Education: B.B.A., University of Texas at San Antonio; M.B.A., University of Texas at Arlington. He holds the CFA designation and is a member of the CFA Institute and the San Antonio Financial Analysts Society.

R.Neal Graves


Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

R. Neal Graves, CFA, CPA, Victory Capital Senior Portfolio Manager–USAA Investments, A Victory Capital Investment Franchise, has co-managed the Fund since July 2019. Education: Master in Professional Accounting, University of Texas at Austin and a B.B.A., University of Texas at Austin. He holds the CFA designation and is a member of the CFA Institute and the CFA Society of San Antonio.

James Jackson


Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

James F. Jackson, Jr., CFA, Victory Capital Senior Portfolio Manager and Head of Fixed Income Portfolio Management–USAA Investments, A Victory Capital Investment Franchise. Mr. Jackson has investment management experience since 2000, including 10 years with AMCO, which was acquired by the Adviser's parent company in 2019. Education: M.B.A. with High Distinction, Ross School of Business, University of Michigan and a B.S., United States Naval Academy. He holds the CFA designation and is a member of the CFA Institute and the CFA Society of San Antonio.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.58 0.13