USAIX: USAA Income

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USAIX USAA Income


Profile

USAIX - Profile

Vitals

  • YTD Return 2.7%
  • 3 Yr Annualized Return 1.9%
  • 5 Yr Annualized Return 0.7%
  • Net Assets $8.94 B
  • Holdings in Top 10 5.5%

52 WEEK LOW AND HIGH

$13.76
$12.70
$13.81

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.55%

SALES FEES

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

BROKERAGE FEES

  • Turnover 8.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $3,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 2.7%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.49%
DIVIDENDS
  • Dividend Yield 0.3%
  • 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 fund invests its assets primarily in U.S. dollar-denominated fixed-income securities that have been selected for their high yields relative to the risk involved. It will invest primarily in investment-grade securities but also may invest up to 10% of its net assets in below-investment-grade securities, which are sometimes referred as high-yield or "junk" bonds.


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Categories

Fund Company Quick Screens

USAIX - Fund Company Quick Screens


Performance

USAIX - Performance

Return Ranking - Trailing

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% -1.5% 8.3% 38.36%
1 Yr 8.3% -0.5% 21.9% 17.02%
3 Yr 1.9%* -4.7% 5.6% 40.43%
5 Yr 0.7%* -5.6% 2.5% 31.54%
10 Yr 0.9%* -5.2% 3.7% 38.30%

* Annualized

Return Ranking - Calendar

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
2019 7.0% -1.2% 18.3% 11.47%
2018 -4.7% -10.9% 0.2% 82.70%
2017 2.0% -6.0% 7.8% 26.84%
2016 2.2% -7.8% 6.0% 7.62%
2015 -4.5% -10.5% 3.0% 92.31%

Total Return Ranking - Trailing

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% -1.5% 8.3% 38.36%
1 Yr 8.3% -0.5% 21.9% 17.02%
3 Yr 1.9%* -4.7% 5.6% 41.28%
5 Yr 0.7%* -5.6% 3.1% 33.50%
10 Yr 0.9%* -5.2% 3.8% 40.78%

* Annualized

Total Return Ranking - Calendar

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
2019 7.0% -1.2% 18.3% 11.47%
2018 -4.7% -10.9% 0.3% 82.90%
2017 2.0% -6.0% 7.8% 29.22%
2016 2.2% -7.8% 6.0% 8.55%
2015 -4.5% -10.5% 3.0% 94.04%

NAV & Total Return History


Holdings

USAIX - Holdings

Concentration Analysis

USAIX Category Low Category High USAIX % Rank
Net Assets 8.94 B 1.07 M 259 B 13.57%
Number of Holdings 1086 1 17668 21.38%
Net Assets in Top 10 476 M -188 M 21.4 B 24.35%
Weighting of Top 10 5.54% 2.5% 100.0% 94.92%

Top 10 Holdings

  1. United States Treasury Notes 2% 0.94%
  2. United States Treasury Bonds 2.5% 0.77%
  3. United States Treasury Bonds 2.38% 0.71%
  4. United States Treasury Notes 2.62% 0.59%
  5. United States Treasury Notes 1.62% 0.58%
  6. United States Treasury Bonds 2.25% 0.49%
  7. United States Treasury Bonds 3.88% 0.44%
  8. SBA Tower Trust 3.45% 0.36%
  9. Nationwide Mutual Insurance Company 4.18% 0.34%
  10. United States Treasury Bonds 3% 0.33%

Asset Allocation

Weighting Return Low Return High USAIX % Rank
Bonds
95.65% 81.16% 159.74% 65.99%
Convertible Bonds
2.11% 0.00% 7.23% 5.58%
Cash
1.11% -59.74% 18.84% 57.62%
Preferred Stocks
0.83% 0.00% 7.43% 2.42%
Stocks
0.31% -0.98% 21.11% 1.86%
Other
0.00% -5.22% 21.23% 82.53%

Stock Sector Breakdown

Weighting Return Low Return High USAIX % Rank
Energy
37.69% 0.00% 100.00% 29.87%
Financial Services
22.08% 0.00% 100.00% 32.47%
Consumer Defense
12.24% 0.00% 13.31% 9.09%
Utilities
11.16% 0.00% 100.00% 23.38%
Communication Services
11.16% 0.00% 100.00% 7.79%
Real Estate
5.67% 0.00% 100.00% 10.39%
Technology
0.00% 0.00% 21.89% 88.31%
Industrials
0.00% 0.00% 18.82% 88.31%
Healthcare
0.00% 0.00% 36.36% 90.91%
Consumer Cyclical
0.00% 0.00% 100.00% 88.31%
Basic Materials
0.00% 0.00% 8.61% 88.31%

Stock Geographic Breakdown

Weighting Return Low Return High USAIX % Rank
US
0.16% -1.58% 16.58% 2.23%
Non US
0.15% 0.00% 4.53% 1.86%

Bond Sector Breakdown

Weighting Return Low Return High USAIX % Rank
Corporate
62.99% 0.00% 99.62% 5.39%
Securitized
19.81% 0.00% 98.30% 43.31%
Government
8.59% 0.00% 99.86% 52.04%
Municipal
7.51% 0.00% 100.00% 42.01%
Cash & Equivalents
1.11% -26.49% 18.92% 65.61%
Derivative
0.00% 0.00% 17.59% 86.99%

Bond Geographic Breakdown

Weighting Return Low Return High USAIX % Rank
US
77.80% 73.01% 156.78% 93.68%
Non US
17.85% -12.35% 19.82% 3.16%

Expenses

USAIX - Expenses

Operational Fees

USAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.01% 38.00% 66.73%
Management Fee 0.24% 0.00% 1.09% 20.72%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.30% 83.11%

Sales Fees

USAIX 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 0.50% 5.00% N/A

Trading Fees

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

USAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 8.00% 0.00% 457.00% 5.30%

Distributions

USAIX - Distributions

Dividend Yield Analysis

USAIX Category Low Category High USAIX % Rank
Dividend Yield 0.25% 0.00% 2.87% 52.60%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

USAIX Category Low Category High USAIX % Rank
Net Income Ratio 3.49% 0.31% 6.30% 18.77%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

USAIX - Fund Manager Analysis

Managers

Julianne Bass


Start Date

Tenure

Tenure Rank

Jul 16, 2012

7.55

7.6%

Julianne Bass, CFA, Victory Capital Senior Portfolio Manager–USAA Investments, A Victory Capital Investment Franchise, has co-managed the Fund since 2007. Ms. Bass has 32 years of investment management experience including 20 years with AMCO, which was acquired by the Adviser’s parent company in 2019. Education: B.B.A., University of Texas at Austin; M.B.A., University of Houston. She holds the Chartered Financial Analyst (“CFA”) designation and is a member of the CFA Institute and the CFA Society of San Antonio.

Brian Smith


Start Date

Tenure

Tenure Rank

Dec 01, 2013

6.17

6.2%

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


Start Date

Tenure

Tenure Rank

Nov 04, 2016

3.24

3.2%

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


Start Date

Tenure

Tenure Rank

Nov 04, 2016

3.24

3.2%

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.

R.Neal Graves


Start Date

Tenure

Tenure Rank

Jul 01, 2019

0.59

0.6%

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

0.59

0.6%

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 24.19 6.9 13.34