Income Fund

C000091152 Fund Overview

Income Fund is a US mutual fund managed by Victory Portfolios III, categorised as Long Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Victory Portfolios III
• Category: Long Total / Aggregate Bond
• Assets under management: $3.54B
• SEC CIK: 0000908695
• SEC series ID: S000012899
• Share class ID: C000091152

C000091152 Investment Objective and Strategy

Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Victory Portfolios III.

Investment objective

The USAA Income Fund (the Fund) seeks maximum current income without undue risk to principal.

Principal investment strategy

"The Fund invests its assets primarily in U.S. dollar-denominated fixed-income securities that have been selected for their high yields relative to the risk involved. The fixed-income securities in which the Fund invests include obligations of U.S., state, and local governments, and their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; and repurchase agreements. The Fund also may invest in income-producing common stock, preferred securities, and other securities believed to have debt-like characteristics. The Fund may invest up to 65% of its assets in corporate bonds. The Fund may invest up to 20% of its assets in foreign securities, including non-dollar-denominated securities and emerging markets securities. The Fund will invest primarily in investment-grade securities but also may invest up to 10% of its net assets in below-investment-grade securities, which are sometimes referred as high-yield or ""junk"" bonds.

Investment-grade securities include securities issued or guaranteed by the U.S. government, its agencies and instrumentalities, as well as securities rated or subject to a guarantee that is rated in one of the four highest credit grades by a public rating agency (or of equivalent quality if not publicly rated. Such securities are measured at the time of purchase. The Fund may use derivatives, such as futures, options, and swaps, to increase or decrease its exposure to changing security prices or other factors that affect security values, to seek to enhance income, to protect the value of portfolio securities, or to keep cash on hand to meet shareholder redemptions or other needs while maintaining exposure to the market. The Fund may also seek to earn additional income through securities lending."

C000091152 Holdings

Top 10 holdings of Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000091152 holdings

C000091152 Portfolio Allocation

Asset-class allocation of Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000091152 Costs and Fees

C000091152 costs about $77 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.77%
• Gross expense ratio: 0.78%
• Portfolio turnover: 17%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000091152 Cashflows

Over the 12 months to 2026-04, Income Fund had net outflows of $368.56M, from monthly SEC N-PORT filings.

C000091152 Debt Constituents

Largest debt holdings of Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000091152 Prospectus and SEC Filings

Official Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-08-27
• Prospectus (485BPOS) — filed 2025-08-27
• Prospectus (485BPOS) — filed 2024-08-27
• Portfolio holdings (N-PORT) — filed 2026-09-29
• Portfolio holdings (N-PORT) — filed 2026-06-25
• Portfolio holdings (N-PORT) — filed 2026-03-27
• Annual census (N-CEN) — filed 2026-07-10
• Annual census (N-CEN) — filed 2025-07-11

Related Funds

Other Long Total / Aggregate Bond funds tracked on ABC INVEST:

• Dodge & Cox Income Fund (DODIX)
• Bond Fund Of America (ABNDX)
• Fidelity U.S. Bond Index Fund (FUBFX)
• Baird Aggregate Bond Fund (BAGIX)
• PGIM Total Return Bond Fund (PDBAX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.