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Morningstar

USAA CA Bond Class A UXABX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 10.44  /  0.01 %
  • Total Assets 535.0 Mil
  • Adj. Expense Ratio
    0.790%
  • Expense Ratio 0.790%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity Medium / Extensive
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 2.63%
  • Effective Duration 7.40 years

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 12:45 AM GMT+00:00

Morningstar’s Analysis UXABX

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

People Pillar

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

Summary

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Increased confidence in USAA CA Bond Class A's prospects relative to its Morningstar Category peers results in an upgrade in this strategy's Morningstar Quantitative Rating to Neutral from Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-costliest quintile among peers.

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