USAA Growth and Tax Strategy Fund
USBLX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 15935 La Cantera Parkway San Antonio TX United States of America 78256
- IPO Date
- Jan 11, 1989
- CIK
- 0000908695
- Website
- usaa.com
- Similar Companies
- Business
- Victory Growth and Tax Strategy Fund (USBLX) is an open-end mutual fund that seeks a conservative balance between income, the majority of which is exempt from federal income tax, and potential long-term capital growth to preserve purchasing power. The fund employs a target allocation strategy, investing 50%-70% of assets in investment-grade tax-exempt municipal bonds and money market instruments, including short-term taxable or tax-exempt debt; and 30%-50% in blue-chip large-cap U.S. stocks, with up to 5% in foreign blue-chip stocks via ADRs or similar instruments traded in U.S. markets. It emphasizes tax efficiency through low turnover (around 7%-13%), quarterly dividend distributions, and annual capital gains payouts in December, focusing on sectors like technology (e.g., Apple, NVIDIA, Microsoft), communication services, and municipal bonds from issuers such as New York City Water and Sewer System. Victory Capital Management Inc. serves as the investment adviser, with Northern Trust Investments Inc. as subadvisor, and a team of portfolio managers including Mannik Dhillon (since 2019), Andrew Hattman, Lauren Spalten (since 2021), Lela Dunlap and Lance Humphrey (since 2022). The fund, originally launched as USAA Growth and Tax Strategy Fund on January 11, 1989, underwent a significant rebranding in April 2023 when USAA Mutual Funds Trust became Victory Portfolios III, aligning with Victory Capital's acquisition of USAA Asset Management Company in 2019; no changes occurred to investment objectives, teams, or processes. Victory Capital, headquartered in San Antonio, Texas, manages the fund within its broader lineup of mutual funds, ETFs, and UCITS offerings distributed domestically and internationally. Recent developments include Victory Capital's expanded strategic partnership with Amundi, culminating in a transaction close in March 2025 that boosted international capabilities, including new UCITS funds, alongside ongoing expense synergies exceeding $100 million; the firm also launched active ETFs in June 2025. As of late 2025, the fund maintains net assets of approximately $866-876 million, a net expense ratio of 0.51%-0.61%, and a TTM yield of 2.24%, positioning it in the moderately conservative allocation category with a large-blend equity style and medium credit quality/moderate interest-rate sensitivity. It primarily serves taxable individual and institutional investors seeking tax-advantaged balanced exposure across U.S. markets.