Summary
Why USTB?
- Same experienced in-house team managing the USAA mutual funds.
- Average portfolio maturity of less than 3 years might decrease volatility when interest rates change.
- Actively managed fund offers potential to outperform its benchmark.
Investment Objective & Investment Strategy Overview
Seeks high current income with preservation of principal. Under normal market conditions, the portfolio will invest primarily in corporate bonds and U.S. Treasury bonds.
The fund may invest in government obligations (including U.S., state, and local governments, their agencies and instrumentalities); mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; and other securities believed to have debt-like characteristics. The fund also may allocate up to 20% of its assets to high-yield corporate bonds and up to 20% to mortgage-backed or asset-backed securities not sponsored by the U.S. government or agencies.
Top Holdings (07/26/2018)
An exchange-traded fund (ETF) is a diversified collection of securities. ETFs seek to track an index, commodity, bonds or a basket of assets, and the prices change throughout the day as they're bought and sold on an exchange like a stock. The top holdings are determined by their percentage value within the portfolio.
| Issuer | Weight (%) |
|---|---|
| US TREASURY N/B | 3.82% |
| US TREASURY N/B | 3.61% |
| US TREASURY N/B | 3.19% |
| US TREASURY N/B | 2.04% |
| CARMAX AUTO OWNER TRUST | 1.74% |
| US TREASURY N/B | 1.72% |
| ANHEUSER BUSCH INBEV WOR | 1.32% |
| NUVEEN FINANCE LLC | 1.32% |
| PHILIP MORRIS INTL INC | 1.31% |
| MONDELEZ INTL HLDINGS NE | 1.30% |
The top holdings illustrate examples of the securities in which the fund may invest, and may not be representative of the fund's current or future investments. For equity funds, the top holdings do not include money market investments. The specific securities identified are not representative of all of the securities purchased, sold or recommended, and it should not be assumed that an investment in the securities identified was or will be profitable. Portfolio holdings and weightings are as of market open on the date indicated above and are subject to change.
Consider the investment objectives, risks, charges and expenses and other information of the USAA ETFs, available in each ETF’s prospectus, carefully before investing. Download a prospectus containing this and other information about the funds from USAA Investment Management Company, Distributor. Read it carefully before investing. The information provided does not constitute a recommendation of any investment strategy or product for a particular investor and should not be considered advice given in a fiduciary capacity, including within the meaning of ERISA. Investors should consult a financial advisor/financial consultant before making any investment decisions.
The performance data quoted represents past performance and is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.