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USTEX USAA Tax Exempt Long-Term

  • Fund
  • USTEX
  • Price as of: Apr 24, 2019
  • $13.29 + $0.03 + 0.23%
  • Category
  • National Munis

USTEX - Profile

Vitals

  • YTD Return 1.8%
  • 3 Yr Annualized Return -1.2%
  • 5 Yr Annualized Return -0.4%
  • Net Assets $2.37 B
  • Holdings in Top 10 11.4%

52 WEEK LOW AND HIGH

$13.29
$12.84
$13.29

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.47%

SALES FEES

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

BROKERAGE FEES

  • Turnover 14.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$3,000

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return -1.2%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.83%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name USAA Tax Exempt Long Term Fund
  • Fund Family Name USAA
  • Inception Date Mar 19, 1982
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States

Fund Description

The fund invests primarily in investment-grade securities the interest from which is excludable from gross income for federal income tax (referred to herein as "tax-exempt securities"). During normal market conditions, at least 80% of its net assets will consist of tax-exempt securities. The fund's dollar-weighted average portfolio maturity is 10 years or more. At least 80% of the fund's annual net investment income dividends will be tax-exempt and excludable from the calculation of the federal alternative minimum tax for individual taxpayers.

USTEX - Performance

Return Ranking - Trailing

Period USTEX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% 0.0% 3.7% 46.44%
1 Yr 1.5% -2.7% 4.6% 62.90%
3 Yr -1.2%* -2.9% 1.7% 80.65%
5 Yr -0.4%* -1.8% 2.1% 84.23%
10 Yr 1.1%* -8.9% 3.3% 21.17%

* Annualized


Return Ranking - Calendar

Period USTEX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.9% -4.8% 0.8% 82.14%
2017 1.7% -0.9% 5.6% 44.38%
2016 -3.3% -6.1% 7.3% 81.87%
2015 -0.9% -10.9% 2.6% 88.59%
2014 6.0% -60.4% 12.0% 32.77%

Total Return Ranking - Trailing

Period USTEX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% 0.0% 3.8% 48.81%
1 Yr 1.5% -2.5% 7.1% 66.07%
3 Yr -1.2%* -2.9% 3.1% 84.11%
5 Yr -0.4%* -1.8% 3.7% 87.97%
10 Yr 1.1%* -8.9% 4.9% 29.14%

* Annualized


Total Return Ranking - Calendar

Period USTEX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.9% -4.8% 1.7% 85.12%
2017 1.7% -0.9% 6.2% 52.61%
2016 -3.3% -6.1% 7.3% 85.13%
2015 -0.9% -9.6% 3.9% 90.22%
2014 6.0% -60.4% 12.0% 35.08%

NAV & Total Return History

USTEX - Holdings

Concentration Analysis

USTEX Category Low Category High USTEX % Rank
Net Assets 2.37 B 775 K 65.3 B 30.63%
Number of Holdings 525 3 8026 32.87%
Net Assets in Top 10 263 M -224 M 1.76 B 23.76%
Weighting of Top 10 11.39% 2.5% 100.0% 64.75%

Top 10 Holdings

  1. PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 2.05% 2.13%

  2. REGIONAL TRANSN AUTH ILL 6.5% 2.12%

  3. CALIFORNIA POLLUTN CTL FING AUTH POLLUTN CTL REV 5% 1.62%

  4. REGIONAL TRANSN AUTH ILL 5.75% 1.09%

  5. TENDER OPT BD TR RCPTS / CTFS VAR STS 2.09% 0.95%

  6. TENDER OPT BD TR RCPTS / CTFS VAR STS 2.09% 0.88%

  7. TENDER OPT BD TR RCPTS / CTFS VAR STS 2.14% 0.87%

  8. NEW JERSEY ECONOMIC DEV AUTH REV 3.34% 0.86%

  9. LIBERTY N Y DEV CORP REV 5.25% 0.86%

  10. MIAMI-DADE CNTY FLA AVIATION REV 5.38% 0.84%


Asset Allocation

Weighting Return Low Return High USTEX % Rank
Bonds
100.00% 66.80% 105.94% 8.32%
Stocks
0.00% 0.00% 0.02% 41.58%
Preferred Stocks
0.00% 0.00% 9.24% 41.58%
Other
0.00% -1.35% 30.00% 45.94%
Convertible Bonds
0.00% 0.00% 2.54% 41.78%
Cash
0.00% -5.94% 29.34% 86.73%

Bond Sector Breakdown

Weighting Return Low Return High USTEX % Rank
Municipal
100.00% 0.00% 115.16% 8.12%
Derivative
0.00% 0.00% 0.01% 41.98%
Cash & Equivalents
0.00% -7.72% 29.34% 85.94%
Securitized
0.00% 0.00% 25.65% 43.56%
Corporate
0.00% 0.00% 39.97% 49.90%
Government
0.00% -16.67% 71.35% 41.78%

Bond Geographic Breakdown

Weighting Return Low Return High USTEX % Rank
US
99.92% 52.43% 102.07% 6.53%
Non US
0.08% 0.00% 27.66% 56.63%

USTEX - Expenses

Operational Fees

USTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.47% 0.08% 4.80% 86.56%
Management Fee 0.27% 0.00% 0.65% 12.65%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.34% 74.80%

Sales Fees

USTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

USTEX 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.

USTEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 0.00% 504.54% 15.02%

USTEX - Distributions

Dividend Yield Analysis

USTEX Category Low Category High USTEX % Rank
Dividend Yield 0.03% 0.00% 0.31% 25.89%

Dividend Distribution Analysis

USTEX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

USTEX Category Low Category High USTEX % Rank
Net Income Ratio 3.83% 0.01% 4.95% 4.74%

Capital Gain Distribution Analysis

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

USTEX - Managers

Tenure Analysis

Category Low

0.01

Category High

39.52

Category Average

7.83

Category Mode

4.07