USAA Tax Exempt Long Term Fund (USTEX)
The fund invests primarily in investment-grade securities the interest from which is excludable from gross income for federal income tax (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 10 years or more. 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
US9032891064
903289106
Mar 18, 1982
$3,000
Expense Ratio
USTEX has an expense ratio of 0.46%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
USAA Tax Exempt Long Term Fund (USTEX) returned -2.18% year-to-date (YTD) and 0.75% over the past 12 months. Over the past 10 years, USTEX returned 2.13% annually, underperforming the S&P 500 benchmark at 10.86%.
USTEX
-2.18%
0.49%
-2.94%
0.75%
2.51%
1.01%
2.13%
^GSPC (Benchmark)
1.39%
12.89%
1.19%
12.45%
15.19%
14.95%
10.86%
Monthly Returns
The table below presents the monthly returns of USTEX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.49% | 1.11% | -2.06% | -1.19% | -0.51% | -2.18% | |||||||
| 2024 | -0.77% | 0.38% | 0.48% | -1.43% | 0.26% | 2.39% | 1.06% | 0.74% | 1.33% | -1.72% | 2.62% | -2.35% | 2.89% |
| 2023 | 3.63% | -2.92% | 2.19% | -0.44% | -0.69% | 1.24% | 0.57% | -2.11% | -3.54% | -1.62% | 8.53% | 2.84% | 7.29% |
| 2022 | -2.86% | -0.30% | -3.40% | -3.08% | 0.43% | -2.77% | 3.00% | -2.53% | -5.25% | -1.78% | 5.67% | 0.23% | -12.37% |
| 2021 | 1.04% | -1.72% | 0.77% | 1.26% | 0.75% | 0.52% | 1.09% | -0.52% | -0.80% | -0.42% | 1.39% | 0.23% | 3.61% |
| 2020 | 1.90% | 1.70% | -5.09% | -2.82% | 3.58% | 1.56% | 2.14% | -0.40% | 0.19% | -0.34% | 2.03% | 0.91% | 5.17% |
| 2019 | 0.46% | 0.55% | 1.76% | 0.51% | 1.43% | 0.42% | 0.50% | 1.69% | -0.53% | -0.01% | 0.27% | 0.21% | 7.49% |
| 2018 | -0.97% | -0.29% | 0.55% | -0.38% | 1.08% | 0.02% | 0.15% | 0.19% | -0.55% | -0.91% | 0.89% | 1.08% | 0.83% |
| 2017 | 0.39% | 0.56% | 0.36% | 0.55% | 1.40% | 0.06% | 0.46% | 0.69% | -0.04% | 0.15% | 0.09% | 1.01% | 5.81% |
| 2016 | 0.82% | 0.12% | 0.56% | 0.72% | 0.48% | 1.43% | -0.03% | 0.25% | -0.29% | -0.87% | -3.35% | 0.89% | 0.66% |
| 2015 | 1.72% | -0.96% | 0.18% | -0.46% | -0.16% | -0.09% | 0.83% | 0.19% | 0.51% | 0.33% | 0.48% | 0.75% | 3.35% |
| 2014 | 2.83% | 1.18% | 0.42% | 1.41% | 1.17% | 0.21% | 0.21% | 0.71% | 0.39% | 0.75% | 0.11% | 0.72% | 10.58% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of USTEX is 21, meaning it’s performing worse than 79% of other 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.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for USAA Tax Exempt Long Term Fund (USTEX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
USAA Tax Exempt Long Term Fund provided a 3.81% dividend yield over the last twelve months, with an annual payout of $0.45 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.45 | $0.44 | $0.45 | $0.41 | $0.38 | $0.44 | $0.46 | $0.49 | $0.52 | $0.55 | $0.58 | $0.58 |
Dividend yield | 3.81% | 3.68% | 3.65% | 3.46% | 2.74% | 3.15% | 3.42% | 3.79% | 3.89% | 4.14% | 4.24% | 4.18% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.04 | $0.03 | $0.04 | $0.04 | $0.00 | $0.15 | |||||||
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.44 |
| 2023 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.45 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.41 |
| 2021 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2020 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.04 | $0.44 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
| 2017 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.52 |
| 2016 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.05 | $0.55 |
| 2015 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.58 |
| 2014 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.58 |
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 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 17.92%, occurring on Oct 26, 2022. The portfolio has not yet recovered.
The current USAA Tax Exempt Long Term Fund drawdown is 5.57%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.92% | Aug 4, 2021 | 311 | Oct 26, 2022 | — | — | — |
| -17.87% | Mar 19, 1987 | 149 | Oct 19, 1987 | 225 | Sep 7, 1988 | 374 |
| -17.43% | Jan 24, 2008 | 227 | Dec 15, 2008 | 178 | Aug 31, 2009 | 405 |
| -13.56% | May 13, 1983 | 266 | May 31, 1984 | 246 | May 21, 1985 | 512 |
| -12.92% | Feb 1, 1994 | 205 | Nov 22, 1994 | 120 | May 16, 1995 | 325 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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