USAA Tax Exempt Long Term Fund (USTEX)

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The chart shows the growth of an initial investment of $10,000 in USAA Tax Exempt Long 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.

USAA Tax Exempt Long Term Fund (USTEX) has returned -0.83% so far this year and 3.25% over the past 12 months. Over the last ten years, USTEX has returned 2.11% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Mar 19, 1982, USTEX's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, your investment would double in approximately 15.2 years.

Historically, 66% of months were positive and 34% were negative. The best month was Nov 2023 with a return of +8.5%, while the worst month was May 1984 at -8.6%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 4 months.

On a daily basis, USTEX closed higher 38% of trading days. The best single day was Aug 20, 1982 with a return of +8.9%, while the worst single day was May 30, 1984 at -6.0%.

USAA Tax Exempt Long Term Fund has an annualized alpha of 4.60%, beta of 0.01, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since March 22, 1982.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (18.11%) than losses (6.84%) — typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R² of 0.00 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.00 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

USTEX has an expense ratio of 0.46%, placing it in the medium range.

USTEX ranks 19 for risk / return — in the bottom 19% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for USAA Tax Exempt Long Term Fund (USTEX) and compare them to a chosen benchmark (S&P 500 Index).

USAA Tax Exempt Long Term Fund provided a 3.78% dividend yield over the last twelve months, with an annual payout of $0.45 per share.

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

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.

The table below displays the maximum drawdowns of the USAA Tax Exempt Long 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 Long Term Fund was 20.42%, occurring on Oct 16, 1987. Recovery took 790 trading sessions.

The current USAA Tax Exempt Long Term Fund drawdown is 3.19%.

The chart below shows the rolling one-month volatility.