Victory Ultra Short-Term Bond Fund (Formerly USAA Ultra Short-Term Bond Fund)
Name
As of 05/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$10.03
$301 M
5.07%
$0.51
11.77%
Vitals
YTD Return
2.0%
1 yr return
5.7%
3 Yr Avg Return
2.2%
5 Yr Avg Return
N/A
Net Assets
$301 M
Holdings in Top 10
5.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 11.77%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 57.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$10.03
$301 M
5.07%
$0.51
11.77%
USBAX - Profile
Distributions
- YTD Total Return 2.0%
- 3 Yr Annualized Total Return 2.2%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 14.86%
- Dividend Yield 5.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVictory Ultra Short-Term Bond Fund (Formerly USAA Ultra Short-Term Bond Fund)
-
Fund Family NameVictory Portfolios III
-
Inception DateSep 18, 2020
-
Shares Outstanding5831
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDouglas Rollwitz
Fund Description
USBAX - Performance
Return Ranking - Trailing
Period | USBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.0% | -1.5% | 3.7% | 54.17% |
1 Yr | 5.7% | -0.4% | 13.8% | 44.44% |
3 Yr | 2.2%* | -2.1% | 5.9% | 69.76% |
5 Yr | N/A* | -1.0% | 4.0% | 17.24% |
10 Yr | N/A* | -4.4% | 27.5% | 22.39% |
* Annualized
Return Ranking - Calendar
Period | USBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.5% | -2.3% | 4.3% | 32.87% |
2022 | -2.7% | -6.5% | 0.5% | 67.94% |
2021 | -0.1% | -2.1% | 0.3% | 14.29% |
2020 | N/A | -3.1% | 1.8% | N/A |
2019 | N/A | -1.2% | 6.1% | N/A |
Total Return Ranking - Trailing
Period | USBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.0% | -1.5% | 3.7% | 54.17% |
1 Yr | 5.7% | -0.4% | 13.8% | 44.44% |
3 Yr | 2.2%* | -2.1% | 5.9% | 69.76% |
5 Yr | N/A* | -1.0% | 4.0% | 16.75% |
10 Yr | N/A* | -4.4% | 27.5% | 21.64% |
* Annualized
Total Return Ranking - Calendar
Period | USBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.5% | 0.8% | 12.1% | 18.52% |
2022 | -0.8% | -5.1% | 2.5% | 70.33% |
2021 | 0.7% | -2.1% | 14.5% | 13.79% |
2020 | N/A | -1.0% | 3.6% | N/A |
2019 | N/A | 0.3% | 9.6% | N/A |
NAV & Total Return History
USBAX - Holdings
Concentration Analysis
USBAX | Category Low | Category High | USBAX % Rank | |
---|---|---|---|---|
Net Assets | 301 M | 25.6 K | 22.6 B | 73.15% |
Number of Holdings | 406 | 2 | 1291 | 26.85% |
Net Assets in Top 10 | 16.9 M | 23.7 K | 17.3 B | 89.35% |
Weighting of Top 10 | 5.60% | 5.6% | 163.3% | 99.54% |
Top 10 Holdings
- OVINTIV INC 0.66%
- U S TREASURY NOTE 0.66%
- GUADALUPE VY ELEC 0.58%
- SOCIETE GENERALE SA 0.56%
- CITIZENS BANK NA PROVIDENCE RI 0.56%
- KEYCORP 0.54%
- SPIRIT AIRLINES PTT 2015 1B 0.52%
- CONCENTRIX CORP 0.51%
- PRESTIGE AUTO RECEIVABLES TRUST 2023 2 0.51%
- BLACKSTONE PRIVATE CRE 0.51%
Asset Allocation
Weighting | Return Low | Return High | USBAX % Rank | |
---|---|---|---|---|
Bonds | 90.13% | 0.00% | 128.16% | 33.33% |
Cash | 9.87% | 0.00% | 109.89% | 30.56% |
Convertible Bonds | 4.60% | 0.00% | 15.25% | 36.28% |
Stocks | 0.00% | 0.00% | 95.95% | 84.26% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 82.41% |
Other | 0.00% | -7.74% | 99.94% | 86.57% |
Bond Sector Breakdown
Weighting | Return Low | Return High | USBAX % Rank | |
---|---|---|---|---|
Corporate | 43.82% | 0.00% | 99.91% | 40.93% |
Securitized | 32.60% | 0.00% | 100.00% | 40.93% |
Municipal | 13.79% | 0.00% | 70.39% | 4.19% |
Cash & Equivalents | 9.47% | 0.00% | 109.89% | 30.56% |
Government | 0.32% | 0.00% | 100.00% | 66.05% |
Derivative | 0.00% | -7.49% | 21.59% | 60.65% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | USBAX % Rank | |
---|---|---|---|---|
US | 90.13% | 0.00% | 128.16% | 33.33% |
Non US | 0.00% | 0.00% | 22.24% | 84.26% |
USBAX - Expenses
Operational Fees
USBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 11.77% | 0.02% | 29.63% | 0.93% |
Management Fee | 0.31% | 0.00% | 1.19% | 74.54% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 74.12% |
Administrative Fee | 0.15% | 0.01% | 0.40% | 76.84% |
Sales Fees
USBAX 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
USBAX 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.
USBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 57.00% | 0.00% | 369.54% | 36.81% |
USBAX - Distributions
Dividend Yield Analysis
USBAX | Category Low | Category High | USBAX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.07% | 0.00% | 8.78% | 65.74% |
Dividend Distribution Analysis
USBAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
USBAX | Category Low | Category High | USBAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 14.86% | -1.30% | 14.86% | 0.48% |
Capital Gain Distribution Analysis
USBAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 01, 2024 | $0.042 | OrdinaryDividend |
Mar 01, 2024 | $0.040 | OrdinaryDividend |
Feb 01, 2024 | $0.041 | OrdinaryDividend |
Jan 02, 2024 | $0.044 | OrdinaryDividend |
Dec 01, 2023 | $0.040 | OrdinaryDividend |
Nov 01, 2023 | $0.039 | OrdinaryDividend |
Oct 02, 2023 | $0.040 | OrdinaryDividend |
Sep 01, 2023 | $0.040 | OrdinaryDividend |
Aug 01, 2023 | $0.036 | OrdinaryDividend |
Jul 03, 2023 | $0.038 | OrdinaryDividend |
Jun 01, 2023 | $0.037 | OrdinaryDividend |
May 01, 2023 | $0.036 | OrdinaryDividend |
Apr 03, 2023 | $0.037 | OrdinaryDividend |
Mar 01, 2023 | $0.029 | OrdinaryDividend |
Feb 01, 2023 | $0.028 | OrdinaryDividend |
Jan 03, 2023 | $0.031 | OrdinaryDividend |
Dec 01, 2022 | $0.026 | OrdinaryDividend |
Nov 30, 2022 | $0.026 | OrdinaryDividend |
Oct 31, 2022 | $0.022 | OrdinaryDividend |
Sep 30, 2022 | $0.019 | OrdinaryDividend |
Aug 31, 2022 | $0.017 | OrdinaryDividend |
Jul 29, 2022 | $0.016 | OrdinaryDividend |
Jun 30, 2022 | $0.012 | OrdinaryDividend |
May 31, 2022 | $0.010 | OrdinaryDividend |
Apr 29, 2022 | $0.008 | OrdinaryDividend |
Mar 31, 2022 | $0.007 | OrdinaryDividend |
Feb 28, 2022 | $0.006 | OrdinaryDividend |
Jan 31, 2022 | $0.005 | OrdinaryDividend |
Jan 03, 2022 | $0.005 | OrdinaryDividend |
Dec 01, 2021 | $0.004 | OrdinaryDividend |
Nov 01, 2021 | $0.004 | OrdinaryDividend |
Oct 01, 2021 | $0.005 | OrdinaryDividend |
Sep 01, 2021 | $0.005 | OrdinaryDividend |
Aug 02, 2021 | $0.005 | OrdinaryDividend |
Jul 01, 2021 | $0.005 | OrdinaryDividend |
Jun 01, 2021 | $0.005 | OrdinaryDividend |
May 03, 2021 | $0.007 | OrdinaryDividend |
Apr 01, 2021 | $0.007 | OrdinaryDividend |
Mar 01, 2021 | $0.007 | OrdinaryDividend |
Feb 01, 2021 | $0.007 | OrdinaryDividend |
Dec 31, 2020 | $0.010 | OrdinaryDividend |
Nov 30, 2020 | $0.010 | OrdinaryDividend |
Nov 02, 2020 | $0.011 | OrdinaryDividend |
Oct 30, 2020 | $0.011 | OrdinaryDividend |
Oct 01, 2020 | $0.011 | OrdinaryDividend |
Sep 01, 2020 | $0.013 | OrdinaryDividend |
Aug 03, 2020 | $0.013 | OrdinaryDividend |
Jul 01, 2020 | $0.001 | OrdinaryDividend |
USBAX - Fund Manager Analysis
Managers
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.
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.
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.
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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 32.44 | 6.56 | 7.92 |