Sign In Menu Home Investment Franchises USAA Investments USAA Investments, a Victory Capital Investment Franchise Since 1970, USAA Investments has been building a quality reputation as a fixed-income investment manager. We believe a yield-focused portfolio, built bond by bond using fundamental bottom-up analysis, can over time generate attractive total returns relative to peers. Our rigorous investment process is rooted in a team-oriented approach among our portfolio managers, research analysts and traders. Each group of skilled and experienced professionals offers vital contributions toward our long-term mission: to help provide for our investors’ financial well-being by seeking consistently superior risk-adjusted returns. IDEA GENERATION: We look for investments where our fundamental understanding of credit risk differs from the market. Our collaborative approach encourages best ideas to bubble up from across the investment team. CREDIT ANALYSIS: Bottom-up fundamental analysis is matched with top-down oversight and a robust challenge process. We issue independent ratings on each bond holding and continuously monitor credit quality. SECURITY SELECTION: A bond is selected when the portfolio manager determines it has relative value, based on credit quality, price and structure. When we invest, we do so with conviction, which frequently leads us to look different than the benchmark or peer group. RISK MANAGEMENT: Risk is broadly diversified and understood at the security level. We seek to make sure our entry point provides enough reward potential to cover risks that may emerge between purchase and maturity. Mutual Funds ETFs Investment Team John Spear Victory Capital Chief Investment Officer - USAA Investments, a Victory Capital Investment Franchise John Spear is Chief Investment Officer of the USAA Investments Franchise. USAA Investments was acquired by Victory Capital in July 2019 and is a Victory Capital Investment Franchise. Read Full Bio Jim Jackson, CFA Victory Capital Head of Fixed Income Portfolio Management - USAA Investments, a Victory Capital Investment Franchise Trae Willoughby, CFA, CPA Victory Capital Head of Fixed Income Research - USAA Investments, a Victory Capital Investment Franchise Kevin Kaase Victory Capital Head of Fixed Income Trading - USAA Investments, a Victory Capital Investment Franchise Julianne Bass, CFA Victory Capital Senior Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Brian Smith, CFA, CPA Victory Capital Senior Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Kurt Daum, JD Victory Capital Senior Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Regina Conklin, CFA, CPA Victory Capital Senior Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Neal Graves, CFA, CPA Victory Capital Senior Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Andy Hattman, CFA, CAIA Victory Capital Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Doug Rollwitz, CFA, CPA Victory Capital Portfolio Manager & Senior Fixed Income Analyst - USAA Investments, a Victory Capital Investment Franchise Cody Perkins, CFA Victory Capital Portfolio Manager - USAA Investments, a Victory Capital Investment Franchise Lauren Spalten Victory Capital Portfolio Manager - USAA Investments, A Victory Capital Investment Franchise Advisory services offered by Victory Capital Management Inc., an SEC registered investment adviser. Victory Capital means Victory Capital Management Inc., the investment adviser of the Victory Capital mutual funds and USAA Mutual Funds. Victory Capital mutual funds and USAA Mutual Funds are distributed by Victory Capital Services, Inc. (VCS), member FINRA, an affiliate of Victory Capital. Victory Capital and its affiliates are not affiliated with United Services Automobile Association or its affiliates. USAA and the USAA logos are registered trademarks and the USAA Mutual Funds and USAA Investments logos are trademarks of United Services Automobile Association and are being used by Victory Capital and its affiliates under license. News Legal & Privacy Careers Mobile App Mutual Fund Prospectuses ETF Prospectuses Accessibility Support FAQs Connect with us ©2021 Victory Capital Management Inc. This site is for Institutional Investor use only and not for public use or distribution. 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