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Morningstar

Victory Tax Exempt Intermediate-Term USATX

Morningstar Medalist Rating
Medalist Rating as of | See Victory Capital Investment Hub
  • NAV / 1-Day Return 12.47  /  +0.01 %
  • Total Assets 3.1 Bil
  • Adj. Expense Ratio
    0.490%
  • Expense Ratio 0.490%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category Muni National Interm
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 3,000
  • Status Open
  • TTM Yield 3.26%
  • Effective Duration 4.30 years

USD | NAV as of Apr 18, 2024 | 1-Day Return as of Apr 18, 2024, 10:21 PM GMT+0

Morningstar’s Analysis USATX

Will USATX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable USATX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the USATX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of USATX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Leadership changes on this straightforward muni strategy.

Analyst Thomas Murphy

Thomas Murphy

Analyst

Summary

Victory Tax Exempt Intermediate-Term’s team recently experienced leadership changes, and their buy-and-hold approach lacks an edge over competitors. The strategy retains a Morningstar Medalist Rating of Neutral for all share classes.

by Thomas Murphy
Rated on Published on

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Portfolio Holdings USATX

More USATX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 6.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

REGIONAL TRANSN AUTH ILL 4%

0.76 23.8 Mil
municipal

MISSOURI ST ENVIRONMENTAL IMPT & ENERGY RES AUTH ENV IMPT REV 2.9%

0.74 23.3 Mil
municipal

NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 4%

0.69 21.7 Mil
municipal

CHICAGO ILL BRD ED 4%

0.65 20.6 Mil
municipal

CLARK CNTY NEV ARPT REV 5%

0.65 20.6 Mil
municipal

PENNSYLVANIA ST TPK COMMN TPK REV 4%

0.64 20.3 Mil
municipal

KENTUCKY ECONOMIC DEV FIN AUTH REV 5.04%

0.64 20.0 Mil
municipal

ILLINOIS FIN AUTH GAS SUPPLY REV 3.9%

0.64 20.0 Mil
municipal

KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4.69%

0.63 20.0 Mil
municipal

NEW JERSEY ST TRANSN TR FD AUTH 0%

0.59 18.7 Mil
municipal