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Mutual Funds Weekly Roundup: August 2
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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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| Period | USBSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.1% | -3.0% | 3.6% | 61.74% |
| 1 Yr | 10.7% | -7.4% | 27.6% | 46.60% |
| 3 Yr | 1.9%* | -9.1% | 13.8% | 61.09% |
| 5 Yr | 0.0%* | -6.7% | 9.4% | 68.26% |
| 10 Yr | 2.2%* | -2.1% | 10.7% | 63.39% |
* Annualized
| Period | USBSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 12.6% | -7.3% | 25.8% | 45.56% |
| 2018 | -10.8% | -32.7% | 7.5% | 44.84% |
| 2017 | 5.9% | -3.7% | 29.4% | 65.49% |
| 2016 | 2.3% | -43.7% | 16.1% | 67.82% |
| 2015 | -8.3% | -19.5% | 1.0% | 72.42% |
| Period | USBSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.1% | -3.0% | 3.6% | 61.74% |
| 1 Yr | 10.7% | -7.4% | 26.9% | 46.98% |
| 3 Yr | 1.9%* | -9.1% | 13.8% | 83.70% |
| 5 Yr | 0.0%* | -6.7% | 9.4% | 89.17% |
| 10 Yr | 2.2%* | -2.1% | 11.3% | 94.64% |
* Annualized
| Period | USBSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 12.6% | -7.3% | 25.8% | 45.56% |
| 2018 | -10.8% | -32.7% | 7.5% | 74.60% |
| 2017 | 5.9% | -3.7% | 29.4% | 86.06% |
| 2016 | 2.3% | -43.7% | 20.7% | 85.88% |
| 2015 | -8.3% | -19.5% | 6.2% | 88.92% |
| USBSX | Category Low | Category High | USBSX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.23 B | 1.73 M | 116 B | 45.83% |
| Number of Holdings | 563 | 53 | 4486 | 55.17% |
| Net Assets in Top 10 | 411 M | -423 K | 21.2 B | 36.16% |
| Weighting of Top 10 | 33.41% | 4.9% | 251.0% | 35.61% |
| Weighting | Return Low | Return High | USBSX % Rank | |
|---|---|---|---|---|
| Stocks | 53.21% | 21.14% | 79.10% | 51.48% |
| Bonds | 44.16% | 20.05% | 72.18% | 18.82% |
| Cash | 1.24% | -31.05% | 50.88% | 82.29% |
| Preferred Stocks | 1.16% | 0.00% | 20.71% | 17.90% |
| Other | 0.12% | -2.70% | 68.30% | 50.55% |
| Convertible Bonds | 0.11% | 0.00% | 14.40% | 69.19% |
| Weighting | Return Low | Return High | USBSX % Rank | |
|---|---|---|---|---|
| Financial Services | 17.26% | 0.00% | 41.89% | 36.13% |
| Technology | 14.10% | 0.00% | 33.84% | 42.09% |
| Industrials | 10.50% | 0.23% | 20.12% | 43.39% |
| Healthcare | 10.48% | 0.00% | 35.17% | 59.22% |
| Consumer Cyclical | 9.72% | 0.00% | 28.06% | 45.44% |
| Communication Services | 7.76% | 0.00% | 28.30% | 28.12% |
| Basic Materials | 7.65% | 0.00% | 16.11% | 12.29% |
| Consumer Defense | 6.81% | 0.00% | 33.90% | 69.46% |
| Energy | 6.54% | -0.17% | 40.93% | 36.69% |
| Real Estate | 6.11% | -2.05% | 85.64% | 39.48% |
| Utilities | 3.09% | -0.17% | 28.06% | 55.68% |
| Weighting | Return Low | Return High | USBSX % Rank | |
|---|---|---|---|---|
| US | 29.20% | -0.12% | 64.48% | 51.29% |
| Non US | 24.01% | 1.19% | 56.89% | 42.25% |
| Weighting | Return Low | Return High | USBSX % Rank | |
|---|---|---|---|---|
| Government | 34.11% | -0.45% | 91.61% | 40.41% |
| Securitized | 32.27% | 0.00% | 70.44% | 5.90% |
| Corporate | 28.95% | 0.00% | 98.70% | 50.55% |
| Cash & Equivalents | 2.71% | -20.20% | 68.26% | 92.07% |
| Municipal | 1.95% | 0.00% | 55.99% | 6.09% |
| Derivative | 0.00% | -4.16% | 44.33% | 91.14% |
| Weighting | Return Low | Return High | USBSX % Rank | |
|---|---|---|---|---|
| US | 41.69% | -0.51% | 66.66% | 11.07% |
| Non US | 2.47% | -9.35% | 43.71% | 81.00% |
| USBSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.02% | 0.07% | 26.19% | 60.52% |
| Management Fee | 0.59% | 0.00% | 1.90% | 41.33% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.15% | 0.01% | 0.40% | 90.27% |
| USBSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
| USBSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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% | 474.00% | 61.45% |
| USBSX | Category Low | Category High | USBSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.33% | 0.00% | 1.81% | 40.96% |
| USBSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Monthly | Quarterly |
| USBSX | Category Low | Category High | USBSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.10% | -0.35% | 6.29% | 46.55% |
| USBSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
| Date | Amount |
|---|---|
| Mar 28, 2019 | $0.051 |
| Dec 28, 2018 | $0.113 |
| Sep 27, 2018 | $0.058 |
| Jun 28, 2018 | $0.073 |
| Mar 29, 2018 | $0.038 |
| Dec 28, 2017 | $0.093 |
| Sep 28, 2017 | $0.055 |
| Jun 29, 2017 | $0.072 |
| Mar 30, 2017 | $0.057 |
| Dec 29, 2016 | $0.101 |
| Sep 29, 2016 | $0.068 |
| Jun 29, 2016 | $0.101 |
| Mar 30, 2016 | $0.075 |
| Dec 30, 2015 | $0.108 |
| Sep 29, 2015 | $0.094 |
| Jun 29, 2015 | $0.105 |
| Mar 30, 2015 | $0.068 |
| Dec 30, 2014 | $0.113 |
| Sep 29, 2014 | $0.077 |
| Jun 27, 2014 | $0.126 |
| Mar 28, 2014 | $0.083 |
| Dec 30, 2013 | $0.111 |
| Sep 27, 2013 | $0.122 |
| Jun 27, 2013 | $0.078 |
| Mar 28, 2013 | $0.074 |
| Dec 28, 2012 | $0.125 |
| Sep 27, 2012 | $0.087 |
| Jun 28, 2012 | $0.117 |
| Mar 29, 2012 | $0.074 |
| Dec 29, 2011 | $0.137 |
| Sep 29, 2011 | $0.084 |
| Jun 29, 2011 | $0.107 |
| Mar 30, 2011 | $0.081 |
| Dec 30, 2010 | $0.114 |
| Sep 29, 2010 | $0.083 |
| Jun 29, 2010 | $0.122 |
| Mar 30, 2010 | $0.098 |
| Dec 30, 2009 | $0.124 |
| Sep 29, 2009 | $0.120 |
| Jun 29, 2009 | $0.126 |
| Mar 30, 2009 | $0.107 |
| Dec 30, 2008 | $0.105 |
| Sep 29, 2008 | $0.093 |
| Jun 27, 2008 | $0.104 |
| Mar 28, 2008 | $0.084 |
| Dec 28, 2007 | $0.131 |
| Sep 27, 2007 | $0.085 |
| Jun 28, 2007 | $0.084 |
| Mar 29, 2007 | $0.081 |
| Dec 28, 2006 | $0.119 |
| Sep 28, 2006 | $0.083 |
| Jun 29, 2006 | $0.095 |
| Mar 30, 2006 | $0.091 |
| Dec 29, 2005 | $0.084 |
| Sep 29, 2005 | $0.069 |
| Jun 29, 2005 | $0.067 |
| Mar 30, 2005 | $0.062 |
| Dec 30, 2004 | $0.090 |
| Sep 29, 2004 | $0.052 |
| Jun 29, 2004 | $0.048 |
| Mar 30, 2004 | $0.046 |
| Dec 30, 2003 | $0.054 |
| Sep 29, 2003 | $0.053 |
| Jun 27, 2003 | $0.064 |
| Mar 28, 2003 | $0.060 |
| Dec 30, 2002 | $0.073 |
| Sep 27, 2002 | $0.070 |
| Jun 27, 2002 | $0.090 |
| Mar 27, 2002 | $0.080 |
| Dec 28, 2001 | $0.076 |
| Sep 27, 2001 | $0.080 |
| Jun 28, 2001 | $0.100 |
| Mar 29, 2001 | $0.090 |
| Dec 28, 2000 | $0.070 |
| Sep 28, 2000 | $0.080 |
| Jun 30, 2000 | $0.080 |
| Mar 31, 2000 | $0.060 |
| Dec 31, 1999 | $0.067 |
| Sep 30, 1999 | $0.060 |
| Jun 30, 1999 | $0.060 |
| Mar 31, 1999 | $0.040 |
| Dec 31, 1998 | $0.059 |
| Sep 30, 1998 | $0.080 |
| Jun 30, 1998 | $0.087 |
| Dec 30, 1997 | $0.088 |
| Sep 30, 1997 | $0.090 |
| Jun 30, 1997 | $0.090 |
| Mar 31, 1997 | $0.080 |
| Dec 30, 1996 | $0.090 |
| Sep 30, 1996 | $0.080 |
| Jun 28, 1996 | $0.080 |
| Mar 29, 1996 | $0.060 |
Start Date
Tenure
Tenure Rank
Jul 17, 2009
10.46
10.5%
Wasif A. Latif, Head of Investments, VictoryShares and Solutions, has co-managed the Fund since July 2019. He 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.
Start Date
Tenure
Tenure Rank
Mar 09, 2016
3.81
3.8%
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.
Start Date
Tenure
Tenure Rank
Jul 01, 2019
0.5
0.5%
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.
Start Date
Tenure
Tenure Rank
Jul 01, 2019
0.5
0.5%
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.
Start Date
Tenure
Tenure Rank
Jul 01, 2019
0.5
0.5%
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.
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.03 | 28.02 | 6.26 | 0.53 |
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