USIBX: USAA Intermediate-Term Bond

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USIBX USAA Intermediate-Term Bond


Profile

USIBX - Profile

Vitals

  • YTD Return 4.5%
  • 3 Yr Annualized Return 1.6%
  • 5 Yr Annualized Return 1.5%
  • Net Assets $3.8 B
  • Holdings in Top 10 10.1%

52 WEEK LOW AND HIGH

$11.24
$10.04
$11.27

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


Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.71%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 fund normally invests at least 80% of its assets in a broad range of debt securities that have a dollar-weighted average portfolio maturity between three to 10 years. It will invest primarily in investment-grade securities, but also may invest up to 10% of its net assets in below-investment-grade securities, which are sometimes referred to as high-yield or "junk" bonds.


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Categories

Performance

USIBX - Performance

Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -31.9% 954.9% 29.34%
1 Yr 2.7% -27.2% 945.1% 36.36%
3 Yr 1.6%* -18.4% 120.9% 34.51%
5 Yr 1.5%* -9.1% 60.6% 23.16%
10 Yr 0.9%* -5.2% 14.4% 14.18%

* Annualized

Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
2019 5.7% -5.8% 20.3% 25.36%
2018 -4.5% -29.6% 4.6% 86.76%
2017 2.3% -4.4% 15.8% 16.77%
2016 2.7% -6.1% 15.0% 7.16%
2015 -6.3% -11.6% 2.6% 97.68%

Total Return Ranking - Trailing

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -31.9% 954.9% 29.34%
1 Yr 2.7% -27.2% 945.1% 36.31%
3 Yr 1.6%* -18.4% 120.9% 39.27%
5 Yr 1.5%* -9.1% 60.6% 32.03%
10 Yr 0.9%* -5.2% 16.1% 31.18%

* Annualized

Total Return Ranking - Calendar

Period USIBX Return Category Return Low Category Return High Rank in Category (%)
2019 5.7% -5.8% 20.3% 25.81%
2018 -4.5% -29.6% 4.6% 89.36%
2017 2.3% -4.4% 15.8% 26.29%
2016 2.7% -6.1% 15.0% 13.82%
2015 -6.3% -9.9% 3.0% 98.08%

NAV & Total Return History


Holdings

USIBX - Holdings

Concentration Analysis

USIBX Category Low Category High USIBX % Rank
Net Assets 3.8 B 619 K 88.4 B 15.91%
Number of Holdings 758 1 10083 20.95%
Net Assets in Top 10 390 M -170 M 26.9 B 20.62%
Weighting of Top 10 10.11% 2.6% 100.0% 86.39%

Top 10 Holdings

  1. United States Treasury Bonds 3.38% 2.28%
  2. United States Treasury Notes 1.62% 1.69%
  3. United States Treasury Bonds 2.5% 1.53%
  4. US LONG BOND FUT SEP20 0.92%
  5. United States Treasury Notes 2.38% 0.85%
  6. Federal National Mortgage Association 3.5% 0.70%
  7. Federal Home Loan Mortgage Corporation 2.6% 0.58%
  8. Federal National Mortgage Association 4% 0.53%
  9. The Boeing Company 5.15% 0.50%
  10. Us 10yr Note Fut Sep20 0.50%

Asset Allocation

Weighting Return Low Return High USIBX % Rank
Bonds
92.84% 78.92% 188.18% 75.64%
Cash
4.54% -83.41% 19.68% 32.72%
Convertible Bonds
1.63% 0.00% 9.45% 20.95%
Preferred Stocks
1.00% -0.17% 10.40% 1.92%
Stocks
0.00% -4.99% 21.62% 34.98%
Other
0.00% -9.30% 31.94% 34.12%

Bond Sector Breakdown

Weighting Return Low Return High USIBX % Rank
Corporate
52.55% 0.00% 99.00% 13.02%
Securitized
29.97% 0.00% 97.53% 24.75%
Government
8.85% -2.21% 99.96% 42.53%
Cash & Equivalents
4.54% -26.49% 93.17% 37.00%
Municipal
4.08% 0.00% 100.06% 46.95%
Derivative
0.00% 0.00% 39.43% 38.78%

Bond Geographic Breakdown

Weighting Return Low Return High USIBX % Rank
US
79.02% 49.78% 163.25% 86.50%
Non US
13.82% -12.10% 39.65% 12.78%

Expenses

USIBX - Expenses

Operational Fees

USIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.01% 34.57% 62.84%
Management Fee 0.30% 0.00% 1.60% 20.90%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.00% 0.50% 73.79%

Sales Fees

USIBX 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 0.25% 5.50% N/A

Trading Fees

USIBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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% 496.90% 41.94%

Distributions

USIBX - Distributions

Dividend Yield Analysis

USIBX Category Low Category High USIBX % Rank
Dividend Yield 0.00% 0.00% 3.89% 31.48%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

USIBX Category Low Category High USIBX % Rank
Net Income Ratio 3.71% -0.81% 5.05% 1.36%

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

13.67

13.7%

Julianne Bass, CFA, Victory Capital Senior Portfolio Manager–USAA Investments, A Victory Capital Investment Franchise, has co-managed the Fund since 2007. Ms. Bass has 32 years of investment management experience including 20 years with AMCO, which was acquired by the Adviser’s parent company in 2019. Education: B.B.A., University of Texas at Austin; M.B.A., University of Houston. She holds the Chartered Financial Analyst (“CFA”) designation and is a member of the CFA Institute and the CFA Society of San Antonio.

Brian Smith


Start Date

Tenure

Tenure Rank

Dec 01, 2013

6.75

6.8%

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


Start Date

Tenure

Tenure Rank

Nov 04, 2016

3.82

3.8%

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


Start Date

Tenure

Tenure Rank

Nov 04, 2016

3.82

3.8%

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.

James Jackson


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.17

1.2%

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.

R.Neal Graves


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.17

1.2%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 33.3 6.93 0.17