USBSX: USAA Cornerstone Moderate

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USBSX USAA Cornerstone Moderate

  • Fund
  • USBSX
  • Price as of: Dec 06, 2019
  • $14.92
    + $0.04 + 0.27%

Profile

USBSX - Profile

Vitals

  • YTD Return 11.7%
  • 3 Yr Annualized Return 1.4%
  • 5 Yr Annualized Return -0.5%
  • Net Assets $1.21 B
  • Holdings in Top 10 31.2%

52 WEEK LOW AND HIGH

$14.92
$13.19
$14.95

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.02%

SALES FEES

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

BROKERAGE FEES

  • Turnover 81.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $500
  • IRA $1,000

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--30% to 50% Equity

Distributions

  • YTD Total Return 11.7%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return -0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.10%
DIVIDENDS
  • Dividend Yield 1.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    USAA Cornerstone Moderate Fund
  • Fund Family Name
    USAA
  • Inception Date
    Sep 01, 1995
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Wasif A. Latif

Fund Description

The USAA Cornerstone Moderate Fund (USBSX) is a moderate-allocation fund that seeks to slowly grow an investor’s capital with medium levels of risk. The fund is currently balanced at 50% stocks and 50% bonds. It can own foreign equities and bonds as well. USBSX uses a fund of funds approach and will invest in a variety of exchange-traded funds (ETFs) and other investment vehicles to accomplish its goal.

While the fund is designed as a core offering, its high fees might prove a hindrance. USBSX is managed by Quantitative Management Associates LLC.


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Categories

Performance

USBSX - Performance

Return Ranking - Trailing

Period USBSX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.7% -7.9% 23.8% 68.43%
1 Yr 5.8% -19.2% 15.6% 61.89%
3 Yr 1.4%* -10.1% 10.6% 67.01%
5 Yr -0.5%* -9.1% 7.0% 63.03%
10 Yr 2.1%* -2.7% 9.1% 72.77%

* Annualized

Return Ranking - Calendar

Period USBSX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.8% -32.7% 0.0% 47.20%
2017 5.9% -3.7% 19.3% 67.11%
2016 2.3% -9.5% 16.1% 65.29%
2015 -8.3% -19.1% 1.0% 70.25%
2014 1.1% -21.3% 10.2% 30.41%

Total Return Ranking - Trailing

Period USBSX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.7% -7.9% 23.8% 69.09%
1 Yr 5.8% -19.2% 18.6% 75.11%
3 Yr 1.4%* -10.1% 10.8% 86.49%
5 Yr -0.5%* -9.1% 7.7% 86.97%
10 Yr 2.1%* -2.7% 9.7% 92.96%

* Annualized

Total Return Ranking - Calendar

Period USBSX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.8% -32.7% 0.0% 80.37%
2017 5.9% -3.7% 22.1% 87.89%
2016 2.3% -9.5% 20.7% 82.64%
2015 -8.3% -16.4% 6.2% 88.65%
2014 1.1% -21.3% 15.3% 75.68%

NAV & Total Return History


Holdings

USBSX - Holdings

Concentration Analysis

USBSX Category Low Category High USBSX % Rank
Net Assets 1.21 B 1.73 M 114 B 45.34%
Number of Holdings 512 52 4473 58.70%
Net Assets in Top 10 373 M -1.94 M 20.3 B 37.83%
Weighting of Top 10 31.24% 5.1% 245.2% 35.43%

Top 10 Holdings

  1. iShares Core S&P 500 ETF 8.25%
  2. United States Treasury Bonds 3.12% 4.43%
  3. Schwab Fundamental Intl Lg Co ETF 3.21%
  4. iShares Core MSCI EAFE ETF 2.50%
  5. United States Treasury Notes 1.12% 2.37%
  6. Vanguard Real Estate ETF 2.20%
  7. United States Treasury Notes 1.75% 2.11%
  8. United States Treasury Notes 1.62% 2.10%
  9. iShares iBoxx $ Invmt Grade Corp Bd ETF 2.04%
  10. United States Treasury Notes 2.38% 2.03%

Asset Allocation

Weighting Return Low Return High USBSX % Rank
Stocks
48.83% 20.81% 79.10% 61.96%
Bonds
47.13% 20.05% 64.96% 19.57%
Cash
2.46% -26.10% 51.94% 73.48%
Preferred Stocks
1.38% 0.00% 20.67% 18.70%
Other
0.12% -3.85% 65.27% 45.22%
Convertible Bonds
0.08% 0.00% 11.29% 72.17%

Stock Sector Breakdown

Weighting Return Low Return High USBSX % Rank
Financial Services
8.48% 0.00% 18.31% 47.25%
Technology
7.08% 0.00% 19.81% 56.04%
Consumer Cyclical
5.27% 0.00% 27.50% 36.92%
Industrials
4.85% 0.15% 13.04% 55.82%
Healthcare
4.58% 0.00% 14.10% 61.76%
Real Estate
4.03% -0.11% 56.16% 39.56%
Consumer Defense
3.77% 0.00% 17.22% 61.98%
Basic Materials
3.40% 0.00% 6.76% 14.07%
Energy
3.19% -0.52% 21.07% 52.53%
Communication Services
2.41% 0.00% 11.27% 38.46%
Utilities
1.67% -1.54% 12.13% 56.04%

Stock Geographic Breakdown

Weighting Return Low Return High USBSX % Rank
US
26.43% -0.12% 55.79% 60.22%
Non US
22.40% 2.15% 59.64% 44.35%

Bond Sector Breakdown

Weighting Return Low Return High USBSX % Rank
Government
20.13% -18.83% 43.35% 23.70%
Securitized
14.86% -29.84% 32.40% 10.22%
Corporate
13.58% -0.53% 64.01% 48.91%
Cash & Equivalents
2.46% -27.77% 71.17% 73.48%
Municipal
0.02% 0.00% 8.28% 46.52%
Derivative
0.00% -18.88% 29.30% 79.78%

Bond Geographic Breakdown

Weighting Return Low Return High USBSX % Rank
US
45.50% -7.28% 51.72% 1.52%
Non US
1.63% -21.48% 44.27% 87.17%

Expenses

USBSX - Expenses

Operational Fees

USBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.02% 0.07% 26.19% 60.13%
Management Fee 0.59% 0.00% 2.05% 44.90%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.30% 91.30%

Sales Fees

USBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.20% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

USBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.20% 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.

USBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 81.00% 7.00% 586.00% 66.88%

Distributions

USBSX - Distributions

Dividend Yield Analysis

USBSX Category Low Category High USBSX % Rank
Dividend Yield 1.10% 0.00% 4.95% 27.77%

Dividend Distribution Analysis

USBSX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Quarterly

Net Income Ratio Analysis

USBSX Category Low Category High USBSX % Rank
Net Income Ratio 2.10% -0.82% 6.29% 46.92%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

USBSX - Fund Manager Analysis

Managers

Wasif A. Latif


Start Date

Tenure

Tenure Rank

Jul 17, 2009

10.38

10.4%

Wasif A. Latif is Head of Global Multi-Assets for USAA Asset Management Company and he has worked for the firm since June 2006. Prior to joining USAA Asset Management Company, he was an equity portfolio manager at Deutsche Bank Private Wealth Management (DB PWM) from December 1998 to May 2006, where he was responsible for managing two fund-of-fund products and an international equity fund. Latif was also a member of DB PWM's U.S. Investment Committee responsible for covering the international equity and emerging markets asset classes. Mr. Latif holds a B.S. in finance from University of Indianapolis and a M.B.A. from University of Illinois at Chicago.

Lance Humphrey


Start Date

Tenure

Tenure Rank

Mar 09, 2016

3.73

3.7%

Lance Humphrey, CFA, is Executive Director of Global Multi Asset Portfolios at USAA Asset Management Company. Mr. Humphrey has started to engaged in investment since 2006. He holds a B.A. of Finance from Texas State University. He holds the CFA designation and is a member of the CFA Society of San Antonio.

R.Neal Graves


Start Date

Tenure

Tenure Rank

Jul 01, 2019

0.42

0.4%

R. Neal Graves, CFA, CPA, Assistant Vice President, Insurance Portfolios, has more than 20 years of finance related experience including 18 years of investment management experience with USAA Asset Management Company. 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.

Mannik Dhillon


Start Date

Tenure

Tenure Rank

Jul 01, 2019

0.42

0.4%

Mannik S. Dhillon serves as President of VictoryShares and Solutions for Victory Capital. In his role, he leads and oversees the firms' exchange-traded and solutions business. He is also responsible for setting the strategy and initiating the development and implementation of Victory's strategic beta-based offerings. Additionally, he manages the solutions provided by our investment franchises, which includes product enhancements, extensions and innovations designed to best meet the needs of clients. Mr. Dhillon also contributes to the evaluation of capabilities of potential new franchises as part of the firm's acquisition strategy.

James F. Jackson


Start Date

Tenure

Tenure Rank

Jul 01, 2019

0.42

0.4%

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
0.11 27.93 6.35 5.19