USAA Investment Management Company allocates assets across a wide range of mutual fund categories, including equity and fixed-income funds. The company seeks to follow military values — Service, Loyalty, Honesty and Integrity — to offer financial services such as brokerage services and discretionary asset management. Founded 40 years ago, the company aims to offer the best options at low initial investments and reasonable entry points.
On Jul 1, 2019, Victory Capital Holdings, Inc. announced that it has completed the acquisition of USAA Asset Management Company. This comprises USAA’s Mutual Fund and ETF businesses, and the investment management company’s 529 College Savings Plan. As of Aug 31, 2019, Victory Capital Holdings, Inc. had $145 billion in assets under management.
Below we share with you three top-ranked USAA mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.
USAA Cornerstone Conservative Fund (USCCX – Free Report) aims for current income. The fund invests the majority of its assets in fixed-income securities. USCCX may also invest in equity securities. It follows a fund-of-funds strategy of investing its assets in a selection of affiliated mutual funds and ETFs through which it invests in fixed-income securities and equity securities. USCCX has returned 4.8% in the past three years.
Wasif A. Latif is one of USCCX’s managers since 2012.
USAA Income Fund (USAIX – Free Report) seeks income growth without any undue risk. USAIX invests mainly in dollar-denominated bonds that have been chosen for their high yields with respect to the risk involved. Although the fund invests the majority of its assets in investment-grade debt securities, it may invest nearly 10% of its assets in “junk bonds” or high-yield bonds. USAIX has three-year annualized returns of 5.7%.
As of the end of December 2019, USAIX held 1,086 issues, with 0.94% of its assets invested in United States Treasury Notes 2%.
USAA Managed Allocation Fund (UMAFX – Free Report) seeks to raise its total return, which mostly comprises capital growth. The fund invests the majority of its assets in equity securities and fixed-income securities through investments in shares of other investment companies. These could include ETFs and REITs. UMAFX has three-year annualized returns of 3.3%.
UMAFX has an expense ratio of 0.76% compared to the category average of 1.40%.
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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