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USAA High Income Fund (USHYX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

USAA High Income Fund (USHYX)

Mutual Fund · Currency in USD · Last updated May 10, 2025

The investment seeks to provide an attractive total return primarily through high current income and secondarily through capital appreciation. The fund primarily invests its assets in a broad range of U.S. dollar-denominated high-yield securities, including bonds, convertible securities, leveraged loans, or preferred stocks, with an emphasis on non-investment-grade debt securities. Although the fund will invest primarily in U.S. securities, it may invest without limit in dollar-denominated foreign securities and to a limited extent in non-dollar-denominated foreign securities, including in each case emerging-markets securities.

Fund Info

ISIN

US9032888433

CUSIP

903288843

Issuer

Victory Capital

Inception Date

Aug 2, 1999

Category

High Yield Bonds

Min. Investment

$3,000

Asset Class

Bond

Expense Ratio

USHYX has an expense ratio of 0.76%, 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:
USHYX vs. USIBX USHYX vs. USAIX USHYX vs. JEPI USHYX vs. ITOT USHYX vs. BKLN USHYX vs. BND USHYX vs. VTI USHYX vs. SRLN USHYX vs. IEMG USHYX vs. VIG
Popular comparisons:
USHYX vs. USIBX USHYX vs. USAIX USHYX vs. JEPI USHYX vs. ITOT USHYX vs. BKLN USHYX vs. BND USHYX vs. VTI USHYX vs. SRLN USHYX vs. IEMG USHYX vs. VIG

Performance

Performance Chart

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Returns By Period

USAA High Income Fund (USHYX) returned 1.81% year-to-date (YTD) and 7.86% over the past 12 months. Over the past 10 years, USHYX returned 4.01% annually, underperforming the S&P 500 benchmark at 10.45%.

USHYX

YTD

1.81%

1M

2.86%

6M

2.02%

1Y

7.86%

5Y*

6.52%

10Y*

4.01%

^GSPC (Benchmark)

YTD

-3.77%

1M

3.72%

6M

-5.60%

1Y

8.55%

5Y*

14.11%

10Y*

10.45%

*Annualized

Monthly Returns

The table below presents the monthly returns of USHYX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20251.20%0.67%-0.81%0.15%0.59%1.81%
20240.34%-0.14%0.62%-0.66%0.42%0.91%1.80%1.33%1.85%-0.40%1.00%-0.36%6.87%
20233.92%-1.17%0.44%0.89%-0.91%1.76%1.51%0.56%-1.03%-1.38%4.41%3.55%13.05%
2022-2.65%-1.29%-0.81%-3.53%0.20%-6.65%5.65%-2.35%-4.17%2.97%2.41%-0.69%-10.94%
20210.57%0.37%0.33%1.21%0.25%1.29%0.41%0.35%-0.07%-0.14%-1.10%2.05%5.61%
20200.30%-1.97%-14.89%4.06%4.83%1.24%4.89%1.17%-1.28%0.36%4.61%2.07%3.74%
20194.59%1.52%1.00%1.50%-1.64%2.42%0.29%-0.22%0.25%0.12%0.33%2.38%13.13%
20180.84%-0.84%-0.61%0.48%0.00%0.34%0.97%0.52%0.42%-1.83%-1.04%-2.75%-3.52%
20171.44%1.58%-0.19%0.58%1.06%-0.08%1.14%-0.25%0.74%0.35%-0.24%0.85%7.17%
2016-2.12%0.85%4.02%3.95%0.85%1.58%2.70%2.30%0.89%0.36%-0.50%1.90%17.92%
20150.25%1.63%-0.59%1.07%0.05%-1.59%-1.06%-2.13%-2.23%1.79%-2.45%-3.50%-8.56%
20141.12%1.73%0.59%0.84%1.09%1.04%-0.73%0.98%-1.44%0.48%-0.39%-1.78%3.52%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 95, USHYX is among the top 5% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of USHYX is 9595
Overall Rank
The Sharpe Ratio Rank of USHYX is 9696
Sharpe Ratio Rank
The Sortino Ratio Rank of USHYX is 9595
Sortino Ratio Rank
The Omega Ratio Rank of USHYX is 9595
Omega Ratio Rank
The Calmar Ratio Rank of USHYX is 9595
Calmar Ratio Rank
The Martin Ratio Rank of USHYX is 9595
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 High Income Fund (USHYX) 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 High Income Fund Sharpe ratios as of May 10, 2025 (values are recalculated daily):

  • 1-Year: 2.50
  • 5-Year: 1.32
  • 10-Year: 0.71
  • All Time: 1.31

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 High Income 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 High Income Fund provided a 7.28% dividend yield over the last twelve months, with an annual payout of $0.50 per share. The fund has been increasing its distributions for 3 consecutive years.

5.00%5.50%6.00%6.50%7.00%7.50%$0.00$0.10$0.20$0.30$0.40$0.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.50$0.53$0.50$0.39$0.38$0.41$0.46$0.47$0.47$0.48$0.47$0.49

Dividend yield

7.28%7.65%7.14%5.88%4.83%5.25%5.79%6.32%5.73%5.94%6.46%5.76%

Monthly Dividends

The table displays the monthly dividend distributions for USAA High Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.04$0.04$0.04$0.00$0.15
2024$0.04$0.04$0.05$0.05$0.05$0.04$0.04$0.04$0.05$0.04$0.04$0.05$0.53
2023$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.05$0.05$0.05$0.50
2022$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.04$0.03$0.39
2021$0.02$0.03$0.04$0.04$0.03$0.03$0.03$0.03$0.04$0.04$0.03$0.03$0.38
2020$0.03$0.04$0.04$0.04$0.03$0.04$0.04$0.04$0.02$0.04$0.03$0.04$0.41
2019$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.03$0.04$0.04$0.04$0.05$0.46
2018$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.03$0.04$0.04$0.05$0.47
2017$0.03$0.04$0.04$0.04$0.04$0.04$0.03$0.04$0.04$0.04$0.04$0.05$0.47
2016$0.04$0.04$0.05$0.04$0.04$0.03$0.04$0.04$0.04$0.04$0.04$0.05$0.48
2015$0.03$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.05$0.47
2014$0.04$0.04$0.04$0.05$0.04$0.03$0.05$0.04$0.04$0.04$0.04$0.05$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.

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Worst Drawdowns

The table below displays the maximum drawdowns of the USAA High Income 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 High Income Fund was 33.59%, occurring on Dec 16, 2008. Recovery took 193 trading sessions.

The current USAA High Income Fund drawdown is 0.07%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-33.59%Jun 5, 2007387Dec 16, 2008193Sep 23, 2009580
-24.55%Feb 21, 202022Mar 23, 2020176Dec 1, 2020198
-15.97%Sep 4, 2014363Feb 11, 2016123Aug 8, 2016486
-15.1%Dec 29, 2021190Sep 29, 2022307Dec 19, 2023497
-13.16%Jan 15, 2002189Oct 15, 2002117Apr 3, 2003306

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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