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USAA Tax Exempt Short-Term Class A UTESX

Analyst rating as of
NAV / 1-Day Return
10.68  /  0.09 %
Total Assets
1.2 Bil
Adj. Expense Ratio
0.750%
Expense Ratio
0.750%
Fee Level
High
Longest Manager Tenure
17.96 years
Category
Muni National Short
Credit Quality / Interest Rate Sensitivity
Medium / Limited
Min. Initial Investment
2,500
Status
Open
TTM Yield
1.08%
Effective Duration
2.68 years
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Morningstar’s Analysis

Will UTESX outperform in future?

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Portfolio Manager John Bonnell Departs Victory Capital; No Change to Analyst Ratings

Analyst Note

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Effective March 2, 2021, John Bonnell, a portfolio manager for Victory Capital’s USAA tax-exempt fixed-income strategies, has departed the firm. Bonnell, whose two stints at USAA spanned more than two decades, had been a comanager on USAA Virginia Bond USVAX since 2006 and both USAA Tax Exempt Intermediate-Term USATX and USAA Tax Exempt Short-Term USSTX since 2019. Regina Conklin and Andy Hattman, who are both comanagers on the aforementioned strategies, will assume Bonnell’s portfolio management responsibilities. In addition, Lauren Spalten, who spent seven years at S&P and has been part of USAA’s muni research team since 2018, joins Conklin and Hattman on the firm’s tax-exempt fixed-income portfolio management roster. Conklin joined USAA in 1991 and has managed short-term and intermediate muni funds since 2003, while Hattman joined the firm in 2010 and has been a muni portfolio manager since 2019.

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