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USSBX USAA Short-Term Bond

  • Fund
  • USSBX
  • Price as of: Sep 17, 2019
  • $9.22 - $0.00 - 0.00%

USSBX - Profile

Vitals

  • YTD Return 1.9%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return 0.0%
  • Net Assets $2.99 B
  • Holdings in Top 10 8.5%

52 WEEK LOW AND HIGH

$9.22
$9.03
$9.26

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.59%

SALES FEES

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

BROKERAGE FEES

  • Turnover 39.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.18%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name USAA Short Term Bond Fund
  • Fund Family Name USAA
  • Inception Date Jun 01, 1993
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Julianne Bass

Fund Description

The fund normally invests at least 80% of its assets in a broad range of investment-grade debt securities that have a dollar-weighted average portfolio maturity of three years or less. The debt securities in which the fund may invest include, among others, obligations of U.S., state, and local governments, their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; and other securities believed to have debt-like characteristics.

USSBX - Performance

Return Ranking - Trailing

Period USSBX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -0.2% 18.3% 84.16%
1 Yr 1.8% -4.4% 15.6% 83.35%
3 Yr 0.1%* -3.0% 9.3% 32.19%
5 Yr 0.0%* -14.8% 3.5% 56.30%
10 Yr 0.3%* -8.7% 6.5% 54.36%

* Annualized


Return Ranking - Calendar

Period USSBX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.2% -13.7% 6.9% 19.72%
2017 0.3% -6.5% 21.2% 73.38%
2016 1.1% -58.1% 8.6% 19.21%
2015 -1.6% -24.0% 2.6% 60.28%
2014 -0.1% -60.4% 83.0% 83.67%

Total Return Ranking - Trailing

Period USSBX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -0.2% 18.3% 84.50%
1 Yr 1.8% -4.4% 15.6% 85.72%
3 Yr 0.1%* -3.0% 9.3% 43.25%
5 Yr 0.0%* -14.8% 5.5% 66.13%
10 Yr 0.3%* -8.7% 7.0% 67.15%

* Annualized


Total Return Ranking - Calendar

Period USSBX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.2% -13.7% 6.9% 27.51%
2017 0.3% -6.5% 27.0% 78.12%
2016 1.1% -58.1% 10.7% 26.87%
2015 -1.6% -14.6% 4.2% 68.31%
2014 -0.1% -60.4% 83.0% 87.45%

NAV & Total Return History

USSBX - Holdings

Concentration Analysis

USSBX Category Low Category High USSBX % Rank
Net Assets 2.99 B 701 K 241 B 21.47%
Number of Holdings 553 1 17412 29.56%
Net Assets in Top 10 254 M -179 M 23.7 B 31.72%
Weighting of Top 10 8.45% 2.5% 212.7% 90.62%

Top 10 Holdings

  1. United States Treasury Notes 1.38% 1.48%

  2. United States Treasury Notes 1.38% 1.42%

  3. United States Treasury Notes 1.62% 0.83%

  4. Centaur Funding Corporation 0% 0.81%

  5. Kraft Heinz Foods Company 4.88% 0.69%

  6. Office Properties Income Trust 3.6% 0.69%

  7. Grupo Bimbo S.A.B de C.V. 4.5% 0.64%

  8. WGL Holdings Inc 2.25% 0.63%

  9. Energy Transfer Operating L P 7.5% 0.63%

  10. Infinity Property & Casualty Corporation 5% 0.63%


Asset Allocation

Weighting Return Low Return High USSBX % Rank
Bonds
92.36% 80.17% 129.72% 86.67%
Cash
5.51% -37.85% 22.95% 17.51%
Preferred Stocks
1.17% -1.25% 4.10% 1.47%
Convertible Bonds
0.96% 0.00% 6.30% 21.83%
Stocks
0.00% -14.50% 14.08% 19.45%
Other
0.00% -16.03% 27.53% 18.42%

Bond Sector Breakdown

Weighting Return Low Return High USSBX % Rank
Corporate
59.32% -1.23% 99.47% 8.61%
Securitized
22.80% 0.00% 141.25% 37.44%
Government
7.91% -74.40% 115.78% 44.43%
Cash & Equivalents
5.51% -37.85% 22.95% 17.95%
Municipal
4.47% 0.00% 106.42% 45.46%
Derivative
0.00% -24.73% 33.80% 19.08%

Bond Geographic Breakdown

Weighting Return Low Return High USSBX % Rank
US
78.97% 66.38% 150.14% 92.16%
Non US
13.39% -43.03% 26.38% 11.06%

USSBX - Expenses

Operational Fees

USSBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.59% 0.00% 209.96% 70.06%
Management Fee 0.20% 0.00% 1.25% 7.84%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.00% 0.63% 73.05%

Sales Fees

USSBX 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

USSBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Turnover 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.

USSBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.00% 0.00% 1856.00% 43.77%

USSBX - Distributions

Dividend Yield Analysis

USSBX Category Low Category High USSBX % Rank
Dividend Yield 1.33% 0.00% 95.96% 53.26%

Dividend Distribution Analysis

USSBX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

USSBX Category Low Category High USSBX % Rank
Net Income Ratio 2.18% -0.18% 4.99% 66.79%

Capital Gain Distribution Analysis

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

USSBX - Managers

Julianne Bass

Manager

Start Date

Tenure

Tenure Rank

Jan 04, 2007

12.66

12.7%

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

Manager

Start Date

Tenure

Tenure Rank

Dec 01, 2013

5.75

5.8%

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

Manager

Start Date

Tenure

Tenure Rank

Nov 04, 2016

2.82

2.8%

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

Manager

Start Date

Tenure

Tenure Rank

Nov 04, 2016

2.82

2.8%

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.


R.Neal Graves

Manager

Start Date

Tenure

Tenure Rank

Jul 01, 2019

0.17

0.2%

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.


James F. Jackson

Manager

Start Date

Tenure

Tenure Rank

Jul 01, 2019

0.17

0.2%

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

0.0

Category High

39.94

Category Average

7.49

Category Mode

7.29