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.
Last year, Victory Capital Holdings, Inc. acquired USAA Asset Management Company. This comprises USAA’s Mutual Fund and ETF businesses and its 529 College Savings Plan. As of Jun 30, 2020, Victory Capital Holdings, Inc. had $129.1 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 Managed Allocation Fund (UMAFX - Free Report) aims to increase its total return, which comprises mostly of capital appreciation. 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 U.S. and foreign ETFs and REITs. UMAFX has three-year annualized returns of 2.3%.
As of the end of June 2020, UMAFX held four issues, with 25.6% of its assets invested in iShares JP Morgan USD Em Mkts Bd ETF.
USAA Income Fund (USAIX - Free Report) aims for maximum current income without excessive risk to principal. The fund’s major investment is in U.S. dollar-denominated fixed-income securities selected for their high yields compared to the risk involved. USAIX has three-year annualized returns of 4.9%.
USAIX has an expense ratio of 0.52% compared to the category average of 0.80%.
USAA Target Managed Allocation Fund (UTMAX - Free Report) aims to boost total returns through capital appreciation. The fund primarily invests in U.S. and non-U.S. equity securities and fixed-income securities through investments in shares of other investment companies, which could comprise ETFs and REITs. UTMAX has three-year annualized returns of 4.9%.
Wasif A. Latif is one of UTMAX’s fund managers since 2015.
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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