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Morningstar

Victory Tax Exempt Short-Term Class A UTESX

Morningstar Medalist Rating
Medalist Rating as of | See Victory Capital Investment Hub
  • NAV / 1-Day Return 9.89  /  0.12 %
  • Total Assets 715.5 Mil
  • Adj. Expense Ratio
    0.670%
  • Expense Ratio 0.670%
  • Distribution Fee Level Average
  • Share Class Type Front Load
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 2.55%
  • Effective Duration 2.53 years

USD | NAV as of Sep 29, 2023 | 1-Day Return as of Sep 29, 2023, 11:41 PM GMT+0

Morningstar’s Analysis UTESX

Will UTESX 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 UTESX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the UTESX 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 UTESX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Leadership changes on this straightforward short-term muni strategy.

Analyst Thomas Murphy

Thomas Murphy

Analyst

Summary

Victory Tax Exempt Short-Term’s team recently experienced leadership changes, and its buy-and-hold approach lacks an edge over competitors. The strategy retains a Morningstar Medalist Rating of Neutral for its cheaper share classes and a Negative for its more expensive share class.

by Thomas Murphy
Rated on Published on

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Portfolio Holdings UTESX

More UTESX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 364
  • Other Holdings 9
  • % Assets in Top 10 Holdings 14.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

NEW YORK LIBERTY DEV CORP LIBERTY REV 2.8%

1.80
13,288,777
municipal

JOHNSON CITY N Y 4%

1.70
12,553,910
Cash and Equivalents

LONG IS PWR AUTH N Y ELEC SYS REV 4.46%

1.44
10,655,936
municipal

CHESAPEAKE BAY BRDG & TUNL DIST VA REV 5%

1.38
10,189,161
municipal

ILLINOIS FIN AUTH REV 4%

1.36
10,092,295
municipal

MISSISSIPPI HOSP EQUIP & FACS AUTH REV 5%

1.36
10,088,238
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PREPAY REV 4.364%

1.35
10,020,677
municipal

PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV 4.324%

1.35
10,012,431
municipal

WASHINGTON ST HEALTH CARE FACS AUTH REV 5.41%

1.35
9,996,932
municipal

LONG BEACH N Y 4%

1.35
9,985,498
municipal