VictoryShares Short-Term Bond ETF
USTB
NASDAQ Global Market- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 15935 La Cantera Parkway San Antonio TX United States of America 78256
- IPO Date
- Oct 27, 2017
- CIK
- 0001573099
- Website
- vcm.com
- Similar Companies
- Business
- VictoryShares USAA Core Short-Term Bond ETF (USTB) is an actively managed exchange-traded fund that seeks high current income consistent with preservation of principal by investing primarily in U.S. investment-grade debt securities, including government obligations, corporate bonds, asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), mortgage-backed securities (MBS), repurchase agreements, and cash equivalents, with a dollar-weighted average maturity of three years or less and an effective duration of approximately 1.8 years. The fund's portfolio, comprising over 800 holdings, emphasizes relative value-driven bottom-up security selection across sectors such as finance (18.2%), industrials (21.2%), ABS (26.3%), Treasury (16.7%), and utilities (3.0%), with credit quality predominantly in BBB (44.2%), AA (24.8%), and A (17.0%) ratings; top holdings include United States Treasury Notes in various maturities (e.g., 4.125%, 4.375%) and corporate issues like Sonoco Products Company. Launched on October 24, 2017, as the USAA Core Short-Term Bond ETF—a series of USAA ETF Trust—the fund was rebranded under VictoryShares following Victory Capital's acquisition of USAA Asset Management Company, completed on July 1, 2019, which integrated its ETF business and expanded Victory Capital's fixed income capabilities. Headquartered in San Antonio, Texas, at Victory Capital Management Inc., 15935 La Cantera Parkway, the ETF operates in the U.S. short-term bond market, targeting income-oriented investors such as individuals, institutions, and financial advisors seeking lower interest rate risk with a 30-day SEC yield of approximately 4.67% (as of mid-2025), net assets of $1.3 billion, and an expense ratio of 0.35%. Recent developments include the appointment of Zach Winters as portfolio manager effective November 1, 2025, replacing Neal Graves, alongside a stable team of senior managers including Brian Smith, Kurt Daum, Doug Rollwitz, and Chief Investment Officer James Jackson; the fund continues to outperform its Bloomberg 1-3 Year Credit Index benchmark on rolling 3- and 5-year excess returns and maintains Morningstar ratings of 5 stars overall (3-year, 5-year periods). Distributed by Victory Capital Services, Inc., an affiliate of the adviser, USTB trades on NASDAQ under ticker USTB (CUSIP 92647N535) and pays monthly dividends, with a trailing 12-month yield of about 4.69%.