USHYX: USAA High Income

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USHYX USAA High Income

  • Fund
  • USHYX
  • Price as of: Dec 10, 2019
  • $7.86
    + $0.02 + 0.26%

Profile

USHYX - Profile

Vitals

  • YTD Return 5.6%
  • 3 Yr Annualized Return -1.0%
  • 5 Yr Annualized Return -1.5%
  • Net Assets $2 B
  • Holdings in Top 10 13.4%

52 WEEK LOW AND HIGH

$7.86
$7.39
$7.98

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.85%

SALES FEES

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

BROKERAGE FEES

  • Turnover 31.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

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

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 5.6%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return -1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.93%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    USAA High Income Fund
  • Fund Family Name
    USAA
  • Inception Date
    Aug 02, 1999
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Julianne Bass

Fund Description

The USAA High Income Fund (USHYX) is an actively managed fund designed to provide high current income. USHYX does this by investing in various bonds with an emphasis on noninvestment-grade debt. This includes junk bonds, convertible securities, leveraged and senior loans, and preferred stocks. The fund uses fundamental analysis to help balance risk and find undervalued junk bonds.

USHYX features low expenses and makes an ideal satellite positon for those investors with a diversified fixed-income portfolio. The fund is managed by USAA Asset Management Company.


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Categories

Fund Company Quick Screens

USHYX - Fund Company Quick Screens


Performance

USHYX - Performance

Return Ranking - Trailing

Period USHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -7.9% 12.5% 60.29%
1 Yr 2.7% -9.6% 15.0% 69.18%
3 Yr -1.0%* -6.8% 8.7% 76.83%
5 Yr -1.5%* -7.6% 6.8% 76.59%
10 Yr 0.2%* -5.8% 10.2% 51.97%

* Annualized

Return Ranking - Calendar

Period USHYX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.0% -13.5% 0.0% 69.78%
2017 1.2% -9.5% 6.3% 64.20%
2016 10.8% -0.8% 28.6% 6.90%
2015 -13.7% -34.3% 3.5% 83.66%
2014 -2.8% -23.1% 2.6% 18.95%

Total Return Ranking - Trailing

Period USHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -7.9% 12.5% 63.90%
1 Yr 2.7% -9.6% 16.1% 76.34%
3 Yr -1.0%* -6.8% 8.7% 83.33%
5 Yr -1.5%* -6.8% 6.8% 85.37%
10 Yr 0.2%* -2.0% 10.2% 74.80%

* Annualized

Total Return Ranking - Calendar

Period USHYX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.0% -13.5% 1.3% 77.99%
2017 1.2% -8.5% 10.1% 71.60%
2016 10.8% -0.8% 39.0% 15.52%
2015 -13.7% -32.4% 3.5% 85.15%
2014 -2.8% -21.8% 7.9% 36.84%

NAV & Total Return History


Holdings

USHYX - Holdings

Concentration Analysis

USHYX Category Low Category High USHYX % Rank
Net Assets 2 B 1.85 M 12.1 B 17.79%
Number of Holdings 446 2 1567 26.06%
Net Assets in Top 10 268 M -115 M 18.9 B 17.96%
Weighting of Top 10 13.39% 5.0% 3643.4% 52.11%

Top 10 Holdings

  1. iShares iBoxx $ High Yield Corp Bd ETF 2.76%
  2. SPDR® Blmbg Barclays High Yield Bd ETF 2.65%
  3. Nustar Logistics, L.P. 0% 1.46%
  4. Sprint Corporation 7.62% 1.10%
  5. Dairy Farmers of America Inc 0% 1.00%
  6. Sprint Corporation 7.62% 1.00%
  7. Bausch Health Companies Inc 7.25% 0.98%
  8. Bombardier Inc. 7.5% 0.85%
  9. HCA Inc. 5.62% 0.81%
  10. Bausch Health Companies Inc 6.12% 0.78%

Asset Allocation

Weighting Return Low Return High USHYX % Rank
Bonds
87.77% 7.28% 144.59% 77.46%
Preferred Stocks
4.40% 0.00% 11.64% 4.58%
Cash
3.74% -41.76% 81.27% 56.34%
Stocks
3.38% -1.32% 23.81% 9.15%
Convertible Bonds
0.70% 0.00% 13.62% 53.87%
Other
0.01% -48.58% 14.94% 42.61%

Stock Sector Breakdown

Weighting Return Low Return High USHYX % Rank
Financial Services
0.78% 0.00% 4.16% 7.79%
Healthcare
0.44% 0.00% 3.48% 8.23%
Communication Services
0.40% 0.00% 4.00% 8.66%
Technology
0.34% 0.00% 4.83% 7.79%
Energy
0.30% 0.00% 10.38% 20.78%
Consumer Cyclical
0.27% 0.00% 5.07% 23.81%
Basic Materials
0.22% 0.00% 1.45% 11.26%
Industrials
0.21% 0.00% 3.84% 18.61%
Real Estate
0.17% 0.00% 7.83% 7.36%
Consumer Defense
0.08% 0.00% 1.77% 12.99%
Utilities
0.00% 0.00% 3.66% 64.07%

Stock Geographic Breakdown

Weighting Return Low Return High USHYX % Rank
US
3.04% -1.32% 18.18% 9.15%
Non US
0.34% 0.00% 8.41% 17.96%

Bond Sector Breakdown

Weighting Return Low Return High USHYX % Rank
Corporate
89.91% 0.00% 3345.86% 58.10%
Cash & Equivalents
3.74% -41.82% 81.27% 56.34%
Securitized
1.19% 0.00% 87.33% 30.63%
Government
1.02% -3298.93% 98.94% 42.25%
Municipal
0.75% 0.00% 18.25% 2.11%
Derivative
0.00% -19.77% 23.58% 54.93%

Bond Geographic Breakdown

Weighting Return Low Return High USHYX % Rank
US
67.73% -233.75% 101.20% 54.93%
Non US
20.04% 0.00% 280.68% 51.76%

Expenses

USHYX - Expenses

Operational Fees

USHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.85% 0.00% 33.79% 78.70%
Management Fee 0.50% 0.00% 1.84% 20.14%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.00% 0.50% 72.58%

Sales Fees

USHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

USHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.00% 2.00% 77.42%

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.

USHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 31.00% 5.00% 1334.00% 18.64%

Distributions

USHYX - Distributions

Dividend Yield Analysis

USHYX Category Low Category High USHYX % Rank
Dividend Yield 1.98% 0.00% 5.76% 41.11%

Dividend Distribution Analysis

USHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

USHYX Category Low Category High USHYX % Rank
Net Income Ratio 5.93% -0.65% 8.97% 19.49%

Capital Gain Distribution Analysis

USHYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

USHYX - Fund Manager Analysis

Managers

Julianne Bass


Start Date

Tenure

Tenure Rank

Jan 04, 2007

12.91

12.9%

JULIANNE BASS, CFA, is vice president and portfolio manager. Education: B.B.A., University of Texas at Austin; M.B.A., University of Houston. She holds the CFA designation and is a member of the CFA Institute and the CFA Society of San Antonio.

John Spear


Start Date

Tenure

Tenure Rank

Nov 04, 2016

3.07

3.1%

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

3.07

3.1%

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.

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.

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.0 30.35 5.8 2.08