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USAA Tax Exempt Intermediate Term Fund (USATX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

USAA Tax Exempt Intermediate Term Fund (USATX)

Mutual Fund · Currency in USD · Last updated May 13, 2025

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 has an expense ratio of 0.49%, placing it in the medium range.

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Popular comparisons:
USATX vs. USMIX USATX vs. VWAHX USATX vs. VTI
Popular comparisons:
USATX vs. USMIX USATX vs. VWAHX USATX vs. VTI

Performance

Performance Chart

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Returns By Period

USAA Tax Exempt Intermediate Term Fund (USATX) returned -0.50% year-to-date (YTD) and 1.50% over the past 12 months. Over the past 10 years, USATX returned 2.19% annually, underperforming the S&P 500 benchmark at 10.69%.

USATX

YTD

-0.50%

1M

1.57%

6M

-0.59%

1Y

1.50%

5Y*

1.54%

10Y*

2.19%

^GSPC (Benchmark)

YTD

-0.64%

1M

8.97%

6M

-2.62%

1Y

11.90%

5Y*

15.76%

10Y*

10.69%

*Annualized

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.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.71%0.99%-1.38%-0.97%0.16%-0.50%
2024-0.28%0.26%0.44%-0.84%-0.28%1.57%0.84%0.75%0.74%-1.04%1.39%-1.21%2.32%
20232.38%-1.81%1.74%-0.13%-0.69%0.83%0.51%-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%
20210.86%-1.17%0.65%0.78%0.35%0.27%0.84%-0.31%-0.60%-0.38%0.70%0.12%2.12%
20201.70%1.29%-4.48%-1.86%3.01%1.42%1.78%-0.28%0.22%-0.29%1.47%0.80%4.68%
20190.71%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%
20170.25%0.51%0.38%0.79%1.41%-0.10%0.62%0.94%-0.18%0.32%-0.19%0.87%5.76%
20160.98%0.07%0.41%0.64%0.40%1.57%-0.11%0.17%-0.39%-1.08%-4.11%1.06%-0.50%
20151.30%-0.76%0.26%-0.39%-0.24%-0.17%0.59%0.11%0.65%0.28%0.41%0.74%2.81%
20141.69%0.92%0.16%0.97%1.03%-0.01%0.21%0.87%0.13%0.59%0.11%0.50%7.39%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of USATX is 39, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of USATX is 3939
Overall Rank
The Sharpe Ratio Rank of USATX is 3838
Sharpe Ratio Rank
The Sortino Ratio Rank of USATX is 3131
Sortino Ratio Rank
The Omega Ratio Rank of USATX is 3939
Omega Ratio Rank
The Calmar Ratio Rank of USATX is 4545
Calmar Ratio Rank
The Martin Ratio Rank of USATX is 4444
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

USAA Tax Exempt Intermediate Term Fund Sharpe ratios as of May 13, 2025 (values are recalculated daily):

  • 1-Year: 0.26
  • 5-Year: 0.43
  • 10-Year: 0.61
  • All Time: 1.58

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of USAA Tax Exempt Intermediate Term Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.

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Dividends

Dividend History

USAA Tax Exempt Intermediate Term Fund provided a 3.15% dividend yield over the last twelve months, with an annual payout of $0.39 per share. The fund has been increasing its distributions for 3 consecutive years.

2.40%2.60%2.80%3.00%3.20%3.40%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.39$0.42$0.41$0.37$0.33$0.38$0.39$0.40$0.42$0.42$0.46$0.47

Dividend yield

3.15%3.34%3.24%2.98%2.39%2.70%2.88%3.05%3.14%3.24%3.42%3.42%

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.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.04$0.03$0.04$0.00$0.00$0.11
2024$0.04$0.03$0.04$0.03$0.04$0.03$0.04$0.04$0.03$0.04$0.03$0.04$0.42
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

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.

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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. Recovery took 524 trading sessions.

The current USAA Tax Exempt Intermediate Term Fund drawdown is 2.17%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-12.51%Aug 6, 2021309Oct 26, 2022524Nov 29, 2024833
-11.87%Jan 24, 2008227Dec 15, 2008104May 15, 2009331
-10.83%Mar 10, 202010Mar 23, 2020169Nov 19, 2020179
-9.91%Mar 9, 1987161Oct 19, 198770Jan 25, 1988231
-8.08%Feb 1, 1994211Nov 22, 199493Mar 31, 1995304

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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