3 USAA Mutual Funds for Scintillating Returns
Founded 40 years ago, USAA Investment Management Company, has $64.6 billion of assets under management invested in more than 50 mutual funds. None of the mutual funds bear any sales load.
USAA allocates 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-ranked USAA mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) is expected to outperform peers in the future. Investors can click here to see the complete list of USAA funds.
USAA Tax Exempt Intermediate-Term Fund Adviser SharesUTEIX fund seeks income from interest which is exempted from federal income tax. The fund invests the lions’ share of its assets in tax-exempt securities. Further, a minimum of 80% of the UTEIX’s annual net investment income dividends is exempted from taxes as well as excluded from the calculation of federal alternative minimum tax for an individual tax-payer in the country. UTEIX has three-year annualized returns of 2.5%.
As of April 2019, UTEIX held 1,049 issues, with 0.90% of its assets invested in LOWER ALA GAS DIST GAS PROJ REV 5%.
USAA World Growth Fund USAWX seeks appreciation of capital by investing in securities of U.S.-based as well as non-U.S. based companies. The fund also invests in equity securities from the emerging markets. USAWX has three-year annualized returns of 9.1%.
Roger M. Morley has been one of USAWX’s managers since 2009.
USAA Short-Term Bond USSBX fund seeks a high level of current income that is on par with capital preservation. The fund invests the majority of its assets in a wide range of investment-grade debt securities that have a dollar-weighted average portfolio maturity of up to three years. USSBX has three-year annualized returns of 2.3%.
USSBX has an expense ratio of 0.58% compared with the category average of 0.75%
To view the Zacks Rank and past performance of all USAA mutual funds, investors can click here to see the complete list of USAA funds.
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