UCINX — Income Fund
Data updated: 2026-09-29
UCINX — Income Fund. Long Total / Aggregate Bond · $3.54B AUM · 1.42% expense ratio · -3.7% 1-yr return. Holdings, fees, performance and SEC filings.
UCINX Fund Overview
UCINX — 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
- 1-year return: -3.7%
- Ticker: UCINX
- SEC CIK: 0000908695
- SEC series ID: S000012899
- Share class ID: C000220610
UCINX 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."
UCINX Holdings
Top 10 holdings of Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United States of America | 1.39% |
| United States of America | 1.27% |
| United States of America | 1.12% |
| United States of America | 1.04% |
| United States of America | 1.03% |
| United States of America | 0.94% |
| United States of America | 0.82% |
| United States of America | 0.75% |
| United States of America | 0.73% |
| United States of America | 0.61% |
UCINX Portfolio Allocation
Asset-class allocation of Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 69.3% |
| Securitized | 28.9% |
| Equity | 0.9% |
| Cash & Equivalents | 0.8% |
| Loans | 0.1% |
UCINX Performance
Total returns for UCINX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -3.7% |
| 3 years (annualised) | -0.1% |
UCINX Risk Information
Risk metrics for UCINX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.5%
UCINX Costs and Fees
UCINX costs about $142 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.42%
- Gross expense ratio: 68.87%
- Portfolio turnover: 17%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
UCINX Cashflows
Over the 12 months to 2026-04, Income Fund had net outflows of $368.56M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$26.14M |
| 2026-03 | −$22.60M |
| 2026-02 | −$24.07M |
| 2026-01 | −$31.97M |
| 2025-12 | −$20.68M |
| 2025-11 | −$26.34M |
UCINX Debt Constituents
Largest debt holdings of Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States of America | 1.39% |
| United States of America | 1.27% |
| United States of America | 1.12% |
| United States of America | 1.04% |
| United States of America | 1.03% |
| United States of America | 0.94% |
| United States of America | 0.82% |
| United States of America | 0.75% |
| United States of America | 0.73% |
| United States of America | 0.61% |
UCINX 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:
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.