Founded 40 years ago, USAA Investment Management Company currently has $64.6 billion of assets under management invested in more than 50 mutual funds. The company also manages $60.8 billion of assets for USAA and its subsidiaries. It allocates its assets across a wide range of mutual fund categories including both equity and fixed-income funds. The company seeks to follow military values — Service, Loyalty, Honesty and Integrity – to offer financial services including brokerage services and discretionary asset management.
Below we share with you three top-rated USAA mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and we expect these funds to outperform its peers in the future. Investors can click here to see the complete list of USAA funds.
USAA Income Adviser (UINCX – Free Report) seeks growth of income. UINCX invests the majority of its assets in dollar-denominated debt securities, including government and corporate bonds and asset-backed and mortgage-backed bonds with high yields. The fund may also invest around one-tenth of its assets in high-yield or junk bonds. USAA Income Adviser returned 1.7% in the last three months.
As of January 2017, UINCX held 890 issues with 1.15% of its assets invested in US Treasury Note 2%.
USAA Intermediate-Term Bond Adviser (UITBX – Free Report) invests the bulk of its assets in a wide variety of dollar-denominated debt securities, which have maturities of three to 10 years. UITBX seeks appreciation of income. The fund normally invests in investment-grade bonds, but may also, not more than 10% of its assets in high-yield bonds. USAA Intermediate-Term Bond Adviserreturned 2% in the last three months.
UITBX has an expense ratio of 0.86% compared with the category average of 0.87%.
USAA Tax Exempt Short-Term (USSTX – Free Report) seeks to offer interest income that is exempt from federal income tax. USSTX invests primarily in investment-grade tax-exempted securities, which have maturities…