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. View Detailed Holdings
| 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.
Credit Quality
As of 06/30/2018
| AAA | 25.44% | |
| AA | 13.16% | |
| A | 27.29% | |
| BBB | 22.22% | |
| Below Investment Grade | 10.62% | |
| Unrated | 1.27% |
More InformationCredit QualityThis chart reflects the highest long-term rating from a Nationally Recognized Statistical Rating Organization (NRSRO), with the four highest long-term credit ratings labeled, in descending order of credit quality, AAA, AA, A and BBB. These categories represent investment-grade quality. NRSRO ratings are shown because they provide an independent analysis of the credit quality of the fund's investments. USAA Asset Management Company (the manager) also performs its own fundamental credit analysis of each security. As part of its fundamental credit analysis, the manager considers various criteria, including industry specific actions, peer comparisons, payment ranking, and structure specific characteristics. Any of the fund's securities that are not rated by an NRSRO appear in the chart above as “Unrated”, but these securities are analyzed and monitored by the manager on an ongoing basis. Government securities that are issued or guaranteed as to principal and interest by the U.S. government and prerefunded and escrowed-to-maturity municipal bonds that are not rated are treated as AAA for credit quality purposes.
Industry
As of 06/29/2018
| US Government | 16.31% | |
| Asset-Backed Financing | 12.29% | |
| Oil & Gas Storage & Transportation | 6.20% | |
| Banks | 5.54% | |
| Regional Banks | 3.95% | |
| Insurance-Life/Health | 3.76% | |
| Foreign Government | 2.97% | |
| Tobacco | 2.90% | |
| Mutual Funds | 2.49% | |
| Integrated Telecommunication Services | 2.43% |
More InformationIndustryPercentages are of net assets of the fund and may not equal 100%.
Security Type
As of 06/29/2018
| Domestic Corporate Bonds | 50.57% | |
| U.S. Govt Bonds | 17.19% | |
| Foreign & Other Bonds | 14.06% | |
| Asset Backed | 12.29% | |
| Domestic Municipal Bonds | 2.88% | |
| Cash & Cash Equivalents | 1.67% | |
| Mortgage Backed | 1.34% |
More InformationSecurity TypeThe asset allocation information reflects the ETF's investments on the date indicated and may not be representative of the ETF's current or future holdings and reflects refinement in classifying securities.
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.