USAA Tax Exempt Intermediate Term Fund (USATX)
The fund invests primarily in investment-grade securities, the interest from which is excludable from gross income for federal income tax purposes (referred to herein as "tax-exempt securities"). During normal market conditions, at least 80% of its net assets will consist of tax-exempt securities. The fund's dollar-weighted average portfolio maturity is between three and 10 years. At least 80% of the fund's annual net investment income dividends will be tax-exempt and excludable from the calculation of the federal alternative minimum tax for individual taxpayers.
Fund Info
| ISIN | US9032892054 |
|---|---|
| CUSIP | 903289205 |
| Issuer | Victory Capital |
| Inception Date | Mar 18, 1982 |
| Category | Municipal Bonds |
| Min. Investment | $3,000 |
| Asset Class | Bond |
Expense Ratio
USATX features an expense ratio of 0.49%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Popular comparisons: USATX vs. USMIX, USATX vs. VWAHX, USATX vs. VTI
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in USAA Tax Exempt Intermediate Term Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
USAA Tax Exempt Intermediate Term Fund had a return of 2.56% year-to-date (YTD) and 7.56% in the last 12 months. Over the past 10 years, USAA Tax Exempt Intermediate Term Fund had an annualized return of 2.34%, while the S&P 500 had an annualized return of 11.39%, indicating that USAA Tax Exempt Intermediate Term Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.56% | 25.45% |
| 1 month | -0.18% | 2.91% |
| 6 months | 2.34% | 14.05% |
| 1 year | 7.56% | 35.64% |
| 5 years (annualized) | 1.44% | 14.13% |
| 10 years (annualized) | 2.34% | 11.39% |
Monthly Returns
The table below presents the monthly returns of USATX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.28% | 0.26% | 0.44% | -0.84% | -0.28% | 1.57% | 0.84% | 0.75% | 0.74% | -1.05% | 2.56% | ||
| 2023 | 2.38% | -1.81% | 1.74% | -0.13% | -0.69% | 0.83% | 0.52% | -1.16% | -2.16% | -0.79% | 5.18% | 1.81% | 5.63% |
| 2022 | -2.32% | -0.40% | -2.91% | -2.47% | 0.72% | -1.41% | 2.42% | -1.71% | -3.42% | -0.89% | 3.79% | 0.44% | -8.11% |
| 2021 | 0.86% | -1.17% | 0.65% | 0.78% | 0.35% | 0.27% | 0.84% | -0.31% | -0.60% | -0.38% | 0.70% | 0.12% | 2.12% |
| 2020 | 1.70% | 1.29% | -4.48% | -1.86% | 3.01% | 1.42% | 1.78% | -0.28% | 0.22% | -0.29% | 1.47% | 0.80% | 4.68% |
| 2019 | 0.71% | 0.57% | 1.39% | 0.40% | 1.31% | 0.38% | 0.75% | 1.42% | -0.79% | 0.16% | 0.23% | 0.32% | 7.04% |
| 2018 | -0.96% | -0.50% | 0.41% | -0.13% | 0.93% | 0.10% | 0.24% | 0.21% | -0.38% | -0.66% | 0.98% | 1.02% | 1.25% |
| 2017 | 0.25% | 0.51% | 0.38% | 0.79% | 1.41% | -0.10% | 0.62% | 0.94% | -0.18% | 0.32% | -0.19% | 0.87% | 5.76% |
| 2016 | 0.98% | 0.07% | 0.41% | 0.64% | 0.40% | 1.57% | -0.11% | 0.17% | -0.39% | -1.08% | -4.11% | 1.06% | -0.50% |
| 2015 | 1.30% | -0.76% | 0.26% | -0.39% | -0.24% | -0.17% | 0.59% | 0.11% | 0.65% | 0.28% | 0.41% | 0.74% | 2.81% |
| 2014 | 1.69% | 0.92% | 0.16% | 0.97% | 1.03% | -0.01% | 0.21% | 0.88% | 0.13% | 0.59% | 0.11% | 0.50% | 7.39% |
| 2013 | 0.43% | 0.58% | -0.15% | 0.87% | -0.94% | -2.49% | -0.37% | -1.12% | 1.71% | 0.78% | -0.21% | -0.06% | -1.03% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of USATX is 70, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for USAA Tax Exempt Intermediate Term Fund (USATX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
USAA Tax Exempt Intermediate Term Fund provided a 3.30% dividend yield over the last twelve months, with an annual payout of $0.42 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.41 | $0.37 | $0.33 | $0.38 | $0.39 | $0.40 | $0.42 | $0.42 | $0.46 | $0.47 | $0.49 |
Dividend yield | 3.30% | 3.24% | 2.98% | 2.39% | 2.70% | 2.88% | 3.05% | 3.14% | 3.24% | 3.42% | 3.42% | 3.73% |
Monthly Dividends
The table displays the monthly dividend distributions for USAA Tax Exempt Intermediate Term Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.00 | $0.35 | |
| 2023 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.41 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2019 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.40 |
| 2017 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.42 |
| 2016 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.42 |
| 2015 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the USAA Tax Exempt Intermediate Term Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the USAA Tax Exempt Intermediate Term Fund was 12.51%, occurring on Oct 26, 2022. The portfolio has not yet recovered.
The current USAA Tax Exempt Intermediate Term Fund drawdown is 0.92%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -12.51% | Aug 6, 2021 | 309 | Oct 26, 2022 | — | — | — |
| -11.99% | Jan 24, 2008 | 226 | Dec 15, 2008 | 105 | May 18, 2009 | 331 |
| -10.83% | Mar 10, 2020 | 10 | Mar 23, 2020 | 169 | Nov 19, 2020 | 179 |
| -9.91% | Mar 9, 1987 | 161 | Oct 19, 1987 | 70 | Jan 25, 1988 | 231 |
| -8.27% | Feb 1, 1994 | 211 | Nov 22, 1994 | 94 | Apr 3, 1995 | 305 |
Volatility
Volatility Chart
The current USAA Tax Exempt Intermediate Term Fund volatility is 1.54%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.