Founded 40 years ago, USAA Investment Management Company as of Jun 30, 2018 had $72.1 billion of assets under management invested in more than 50 mutual funds. All the mutual funds under the fund family bear no 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 its peers in the future. Investors can click here to see the complete list of USAA funds.
USAA California Bond Fund (USCBX - Free Report) seeks growth of interest income that is free from federal and California state income taxes. USCBX invests heavily in securities that are rated investment grade and issued by the state of California, its political divisions and other related government entities. USAA California Bond Fund has one-year annualized returns of 2.4%.
As of May 2018, USCBX held 167 issues with 2.59% of its assets invested in GOLDEN ST TOB SECURITIZATION CORP CALIF 4.55%.
USAA Managed Allocation (UMAFX - Free Report) invests a bulk of its assets in domestic and foreign equity securities and fixed-income securities by investing in shares of REITs, ETFs and other investment companies. The fund seeks to boost its total returns. USAA Managed Allocation has one-year annualized returns of 2.4%
John P. Toohey is one of the fund managers of UMAFX since 2010.
USAA Intermediate-Term Bond (USIBX - Free Report) invests the bulk of its assets in a wide variety of debt securities with maturity between three to 10 years. USIBX invests mainly in dollar-denominated investment grade bonds, but may invest around one-tenth of its assets in high-yield debt securities. The fund seeks a high level of income without unnecessary risks to principal. USIBX has one-year annualized returns of 0.3%.
USIBX has an expense ratio of 0.63% as compared with the category average of 0.72%.
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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