USIBX: USAA Intermediate-Term Bond

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USIBX USAA Intermediate-Term Bond

  • Fund
  • USIBX
  • Price as of: Dec 06, 2019
  • $10.88
    - $0.02 - 0.18%
  • Primary Category
  • Uncategorized

Profile

USIBX - Profile

Vitals

  • YTD Return 6.9%
  • 3 Yr Annualized Return 1.4%
  • 5 Yr Annualized Return 0.0%
  • Net Assets $3.86 B
  • Holdings in Top 10 9.0%

52 WEEK LOW AND HIGH

$10.88
$10.14
$11.01

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.64%

SALES FEES

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

BROKERAGE FEES

  • Turnover 35.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification

  • Primary Caregory Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate Core-Plus Bond

Distributions

  • YTD Total Return 6.9%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.71%
DIVIDENDS
  • Dividend Yield 1.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    USAA Intermediate Term Bond 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 Intermediate-Term Bond Fund (USIBX) is an actively managed portfolio designed to provide high current income within its investment framework. The fund invests in intermediate-term bonds with maturities of three to 10 years. These include corporate bonds and U.S. Treasuries. USIBX aims to outperform its benchmark on return and yield through fundamental credit research and selection.

Given its mandate to focus on the bond market, USIBX makes a prime core choice for any fixed-income portfolio. The fund is internally managed by USAA Investment Management.


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Categories

Fund Company Quick Screens

USIBX - Fund Company Quick Screens


Performance

USIBX - Performance

Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -0.4% 83.7% 13.26%
1 Yr 6.9% -2.2% 26.6% 23.36%
3 Yr 1.4%* -2.6% 9.4% 32.88%
5 Yr 0.0%* -14.6% 6.6% 61.98%
10 Yr 1.3%* -5.4% 8.0% 30.16%

* Annualized

Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.5% -12.4% 0.8% 87.71%
2017 2.3% -2.8% 17.1% 15.03%
2016 2.7% -58.1% 8.6% 6.31%
2015 -6.3% -24.0% 2.6% 97.89%
2014 1.4% -34.8% 20.3% 65.28%

Total Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -0.4% 83.7% 14.12%
1 Yr 6.9% -2.1% 26.6% 24.82%
3 Yr 1.4%* -2.6% 9.4% 43.23%
5 Yr 0.0%* -14.6% 6.6% 71.38%
10 Yr 1.3%* -1.4% 8.0% 41.54%

* Annualized

Total Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.5% -11.7% 6.5% 90.54%
2017 2.3% -2.7% 27.0% 26.59%
2016 2.7% -58.1% 10.7% 13.23%
2015 -6.3% -14.6% 4.2% 98.54%
2014 1.4% -34.8% 24.6% 70.99%

NAV & Total Return History


Holdings

USIBX - Holdings

Concentration Analysis

USIBX Category Low Category High USIBX % Rank
Net Assets 3.86 B 691 K 247 B 18.21%
Number of Holdings 658 2 17572 23.94%
Net Assets in Top 10 355 M -203 M 25.7 B 25.27%
Weighting of Top 10 9.01% 2.5% 138.1% 88.73%

Top 10 Holdings

  1. United States Treasury Bonds 3.38% 1.78%
  2. United States Treasury Bonds 2.5% 1.37%
  3. United States Treasury Notes 2.38% 1.28%
  4. United States Treasury Notes 3.12% 0.85%
  5. Us 2yr Note Fut Dec29 0.77%
  6. U.S. Treasury Bond Dec19 0.74%
  7. Verizon Communications Inc. 4.5% 0.59%
  8. United States Treasury Bonds 2.75% 0.57%
  9. QBE Capital Funding III Ltd 0% 0.54%
  10. US 10 Year Ultra Future Dec19 0.53%

Asset Allocation

Weighting Return Low Return High USIBX % Rank
Bonds
91.93% 80.25% 142.20% 86.41%
Cash
3.55% -42.57% 28.73% 33.39%
Convertible Bonds
2.92% 0.00% 6.26% 2.99%
Preferred Stocks
1.55% 0.00% 8.19% 1.03%
Stocks
0.03% -17.64% 26.52% 5.47%
Other
0.00% -26.77% 30.83% 48.43%

Bond Sector Breakdown

Weighting Return Low Return High USIBX % Rank
Corporate
67.96% 0.00% 98.80% 7.17%
Securitized
14.57% 0.00% 136.75% 43.18%
Government
10.09% -86.06% 121.70% 43.96%
Municipal
3.80% 0.00% 105.67% 45.92%
Cash & Equivalents
3.55% -42.57% 28.73% 33.73%
Derivative
0.00% -25.78% 41.91% 46.58%

Bond Geographic Breakdown

Weighting Return Low Return High USIBX % Rank
US
75.13% 60.74% 134.14% 97.08%
Non US
16.80% -27.08% 24.33% 2.70%

Expenses

USIBX - Expenses

Operational Fees

USIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.00% 209.96% 64.15%
Management Fee 0.30% 0.00% 1.25% 24.75%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.00% 0.63% 78.80%

Sales Fees

USIBX 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 0.00% 5.50% N/A

Trading Fees

USIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

USIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 35.00% 0.00% 2053.00% 40.20%

Distributions

USIBX - Distributions

Dividend Yield Analysis

USIBX Category Low Category High USIBX % Rank
Dividend Yield 1.18% 0.00% 95.13% 27.11%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

USIBX Category Low Category High USIBX % Rank
Net Income Ratio 3.71% 0.00% 4.99% 3.78%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

USIBX - 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.

Brian W. Smith


Start Date

Tenure

Tenure Rank

Dec 01, 2013

6.0

6.0%

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

3.07

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 33.02 7.66 7.54