USAIX: USAA Income Fund - MutualFunds.com

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USAIX - Snapshot

Vitals

  • YTD Return 4.5%
  • 3 Yr Annualized Return 5.1%
  • 5 Yr Annualized Return 5.0%
  • Net Assets $8.03 B
  • Holdings in Top 10 6.2%

52 WEEK LOW AND HIGH

$13.97
$12.58
$14.01

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.50%

SALES FEES

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

BROKERAGE FEES

  • Turnover 25.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Compare USAIX to Popular U.S. Intermediate-Term Bond Duration Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$11.64

+0.26%

$293.42 B

-

$0.02

5.34%

-

$88.37

+0.22%

$293.42 B

2.30%

$2.03

5.38%

-

$11.56

+0.26%

$204.55 B

2.26%

$0.26

5.00%

-

$11.69

+0.17%

$89.02 B

1.67%

$0.19

6.86%

-

$118.26

+0.17%

$81.57 B

2.23%

$2.64

5.24%

-

USAIX - Profile

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 5.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.22%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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.


USAIX - Performance

Return Ranking - Trailing

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -8.0% 951.5% 72.85%
1 Yr 5.7% -4.8% 16.6% 59.07%
3 Yr 5.1%* 0.9% 8.1% 32.83%
5 Yr 5.0%* 1.0% 7.9% 8.68%
10 Yr 4.3%* 1.3% 7.5% 16.75%

* Annualized

Return Ranking - Calendar

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
2019 7.0% -1.7% 13.9% 10.17%
2018 -4.7% -10.3% 2.7% 89.91%
2017 2.0% -49.5% 8.1% 18.37%
2016 2.2% -49.3% 192.8% 7.85%
2015 -4.5% -12.2% 0.2% 87.54%

Total Return Ranking - Trailing

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -8.0% 951.5% 72.85%
1 Yr 5.7% -7.9% 16.6% 49.43%
3 Yr 5.1%* 0.4% 8.1% 29.65%
5 Yr 5.0%* 0.7% 7.9% 7.39%
10 Yr 4.3%* 1.3% 7.5% 14.87%

* Annualized

Total Return Ranking - Calendar

Period USAIX Return Category Return Low Category Return High Rank in Category (%)
2019 7.0% -1.7% 13.9% 11.67%
2018 -4.7% -10.3% 3.9% 90.67%
2017 2.0% -6.0% 8.4% 37.79%
2016 2.2% -5.7% 204.3% 25.48%
2015 -4.5% -12.2% 3.7% 92.86%

NAV & Total Return History


USAIX - Holdings

Concentration Analysis

USAIX Category Low Category High USAIX % Rank
Net Assets 8.03 B 3.15 M 293 B 16.65%
Number of Holdings 1082 1 18468 29.61%
Net Assets in Top 10 499 M -1.17 B 39.4 B 38.55%
Weighting of Top 10 6.20% 3.1% 100.0% 99.62%

Top 10 Holdings

  1. United States Treasury Notes 2% 0.94%
  2. United States Treasury Bonds 2.5% 0.84%
  3. United States Treasury Bonds 2.38% 0.79%
  4. United States Treasury Bonds 2.25% 0.63%
  5. United States Treasury Notes 2.62% 0.62%
  6. United States Treasury Notes 1.62% 0.53%
  7. Federal National Mortgage Association 4% 0.53%
  8. United States Treasury Notes 1.5% 0.50%
  9. United States Treasury Bonds 3% 0.42%
  10. SBA Tower Trust 3.45% 0.39%

Asset Allocation

Weighting Return Low Return High USAIX % Rank
Bonds
94.98% -56.20% 351.52% 48.47%
Convertible Bonds
2.32% 0.00% 11.80% 14.99%
Cash
1.86% -238.91% 164.87% 66.95%
Preferred Stocks
0.83% 0.00% 80.56% 5.59%
Stocks
0.02% -0.16% 10.12% 16.65%
Other
0.00% -14.22% 7.23% 70.86%

Stock Sector Breakdown

Weighting Return Low Return High USAIX % Rank
Energy
71.53% 0.00% 100.00% 20.07%
Real Estate
28.47% 0.00% 88.25% 3.23%
Utilities
0.00% 0.00% 100.00% 80.65%
Technology
0.00% 0.00% 82.90% 78.14%
Industrials
0.00% 0.00% 33.93% 77.42%
Healthcare
0.00% 0.00% 60.00% 81.36%
Financial Services
0.00% 0.00% 100.00% 81.72%
Communication Services
0.00% 0.00% 100.00% 81.36%
Consumer Defense
0.00% 0.00% 24.55% 76.70%
Consumer Cyclical
0.00% 0.00% 100.00% 79.93%
Basic Materials
0.00% 0.00% 100.00% 78.49%

Stock Geographic Breakdown

Weighting Return Low Return High USAIX % Rank
US
0.02% -0.16% 9.71% 13.97%
Non US
0.00% 0.00% 4.67% 79.33%

Bond Sector Breakdown

Weighting Return Low Return High USAIX % Rank
Corporate
60.23% 0.00% 100.00% 4.75%
Securitized
19.79% 0.00% 98.42% 83.99%
Municipal
9.66% 0.00% 84.84% 3.91%
Government
8.47% 0.00% 89.39% 86.50%
Cash & Equivalents
1.86% 0.00% 91.85% 84.64%
Derivative
0.00% 0.00% 23.62% 85.29%

Bond Geographic Breakdown

Weighting Return Low Return High USAIX % Rank
US
81.24% -56.44% 336.16% 64.25%
Non US
13.74% -144.79% 79.88% 26.26%

USAIX - Expenses

Operational Fees

USAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.01% 21.33% 76.56%
Management Fee 0.24% 0.00% 0.85% 13.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.50% 78.82%

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 1.00% 5.50% N/A

Trading Fees

USAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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 25.00% 3.00% 489.00% 7.98%

USAIX - Distributions

Dividend Yield Analysis

USAIX Category Low Category High USAIX % Rank
Dividend Yield 0.00% 0.00% 3.92% 80.57%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

USAIX Category Low Category High USAIX % Rank
Net Income Ratio 3.22% -0.35% 11.28% 10.95%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

USAIX - Fund Manager Analysis

Managers

Julianne Bass


Start Date

Tenure

Tenure Rank

Jul 16, 2012

8.3

8.3%

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

6.92

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


Start Date

Tenure

Tenure Rank

Nov 04, 2016

3.99

4.0%

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

3.99

4.0%

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

1.34

1.3%

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

1.34

1.3%

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
0.04 31.85 6.98 1.34
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