0001683863-18-000298.txt : 20180905 0001683863-18-000298.hdr.sgml : 20180905 20180905160149 ACCESSION NUMBER: 0001683863-18-000298 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 17 FILED AS OF DATE: 20180905 DATE AS OF CHANGE: 20180905 EFFECTIVENESS DATE: 20180905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: USAA MUTUAL FUNDS TRUST CENTRAL INDEX KEY: 0000908695 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-65572 FILM NUMBER: 181055128 BUSINESS ADDRESS: STREET 1: 9800 FREDERICKSBURG ROAD STREET 2: A-3-W CITY: SAN ANTONIO STATE: TX ZIP: 78288-0227 BUSINESS PHONE: 210-498-0226 MAIL ADDRESS: STREET 1: 9800 FREDERICKSBURG ROAD STREET 2: A-3-W CITY: SAN ANTONIO STATE: TX ZIP: 78288-0227 FORMER COMPANY: FORMER CONFORMED NAME: USAA STATE TAX FREE TRUST DATE OF NAME CHANGE: 19940325 FORMER COMPANY: FORMER CONFORMED NAME: USAA STATE TAX EXEMPT TRUST DATE OF NAME CHANGE: 19930707 FILER: COMPANY DATA: COMPANY CONFORMED NAME: USAA MUTUAL FUNDS TRUST CENTRAL INDEX KEY: 0000908695 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07852 FILM NUMBER: 181055129 BUSINESS ADDRESS: STREET 1: 9800 FREDERICKSBURG ROAD STREET 2: A-3-W CITY: SAN ANTONIO STATE: TX ZIP: 78288-0227 BUSINESS PHONE: 210-498-0226 MAIL ADDRESS: STREET 1: 9800 FREDERICKSBURG ROAD STREET 2: A-3-W CITY: SAN ANTONIO STATE: TX ZIP: 78288-0227 FORMER COMPANY: FORMER CONFORMED NAME: USAA STATE TAX FREE TRUST DATE OF NAME CHANGE: 19940325 FORMER COMPANY: FORMER CONFORMED NAME: USAA STATE TAX EXEMPT TRUST DATE OF NAME CHANGE: 19930707 0000908695 S000012903 International Fund C000204424 International Fund R6 Shares URITX 485BPOS 1 f569_d2-SEC.htm MFT XBRL INTL R6 SHARES
As filed with the Securities and Exchange Commission on September 5, 2018.
1933 Act File No. 33-65572
1940 Act File No. 811-7852


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-1A
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Pre-Effective Amendment No. ___
Post-Effective Amendment No. 157
and
REGISTRATION STATEMENT
UNDER
THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 158

USAA MUTUAL FUNDS TRUST
(Exact Name of Registrant as Specified in Charter)

9800 Fredericksburg Road, San Antonio, TX 78288
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code
(210) 498-0226
Jon K. Hadfield, Secretary
USAA MUTUAL FUNDS TRUST
9800 Fredericksburg Road
San Antonio, TX 78288-0227
(Name and Address of Agent for Service)

It is proposed that this filing will become effective under Rule 485
immediately upon filing pursuant to paragraph (b)
on August 17, 2018 pursuant to paragraph (b)
60 days after filing pursuant to paragraph (a)(1)
on (date) pursuant to paragraph (a)(1)
75 days after filing pursuant to paragraph (a)(2)
on (date) pursuant to paragraph (a)(2)
If appropriate, check the following box:
This post-effective amendment designates a new effective date for a previously filed post-effective amendment.



 

SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Fund meets all requirements for effectiveness of this registration statement pursuant to Rule 485(b) under the Securities Act and has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the city of San Antonio, and state of Texas, on the 5th day of September, 2018.
USAA Mutual Funds Trust
By: *

Daniel S. McNamara
President
Pursuant to the requirements of the Securities Act of 1933, this amendment to the registration statement has been signed below by the following persons in the capacities and on the date(s) indicated.
(Signature)   (Title)   (Date)
 *                                                         
Robert L. Mason
  Chairman of the Board of Trustees    
 *                                                         
Daniel S. McNamara
  Vice Chairman of the Board of Trustees and President (Principal Executive Officer)    
 *                                                         
James K. De Vries
  Treasurer (Principal Financial and Accounting Officer)    
 *                                                         
Dawn M. Hawley
  Trustee    
 *                                                         
Jefferson C. Boyce
  Trustee    
 *                                                         
Paul L. McNamara
  Trustee    
 *                                                         
Richard Y. Newton III
  Trustee    
 *                                                         
Barbara B. Ostdiek
  Trustee    
 *                                                         
Michael F. Reimherr
  Trustee    
*By : /s/ Jon K. Hadfield

* Jon K. Hadfield, under the Powers of Attorney dated April 18, 2018, incorporated herein and filed under Post Effective Amendment No. 151, with the Securities and Exchange Commission on April 26, 2018.

 

EXHIBIT INDEX
101. INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema
101.DEF   XBRL Taxonomy Extension Definition Linkbase
101.LAB   XBRL Taxonomy Extension Label Linkbase
101.PRE   XBRL Taxonomy Extension Presentation Linkbase
101.CAL   XBRL Taxonomy Extension Calculation Linkbase
I-1
EX-101.PRE 3 usaa-20180815_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EX-101.INS 4 usaa-20180815.xml XBRL INSTANCE DOCUMENT 0000908695 2018-08-17 2018-08-17 0000908695 usaa:S000012903Member 2018-08-17 2018-08-17 0000908695 usaa:S000012903Member usaa:C000034872Member 2018-08-17 2018-08-17 0000908695 usaa:S000012903Member usaa:C000034872Member usaa:AftertaxondistributionsMember 2018-08-17 2018-08-17 0000908695 usaa:S000012903Member usaa:C000034872Member usaa:AftertaxondistributionsandsaleoffundsharesMember 2018-08-17 2018-08-17 0000908695 usaa:S000012903Member usaa:MSCIEAFEIndexMember 2018-08-17 2018-08-17 0000908695 usaa:S000012903Member usaa:LipperInternationalFundsIndexMember 2018-08-17 2018-08-17 pure iso4217:USD 2018-08-17 2018-08-15 USAA Mutual Funds Trust 0000908695 false 2018-08-15 2018-08-17 485BPOS <p>USAA International Fund Summary </p> <p>Investment Objective</p> <p>The <b>USAA International Fund</b> (the Fund) seeks capital appreciation.</p> <p>Fees and Expenses </p> <p>The tables below describe the fees and expenses that you may pay, directly and indirectly, to invest in the Fund. The annual fund operating expenses for the R6 Shares are based on estimated expenses for the current fiscal year.</p> Shareholder Fees <p>Annual Fund Operating Expenses</p><p>(expenses that you pay each year as a percentage of the value of your investment) </p> September 30, 2019 <p>Example </p> <p>This example is intended to help you compare the cost of investing in this Fund with the cost of investing in other mutual funds. Although your actual costs may be higher or lower, you would pay the following expenses on a $10,000 investment, assuming (1) a 5% annual return, (2) the Fund&#39;s operating expenses remain the same, (3) you redeem all of your shares at the end of the periods shown, and (4) the expense reimbursement arrangement for the R6 Shares is not continued beyond one year.</p> <p>Portfolio Turnover </p> <p>The Fund pays transaction costs, including commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares of the Fund are held in a taxable account. These costs, which are not reflected in the Annual Fund Operating Expenses or in the Example, affect the Fund&#39;s performance. </p><p>For the most recent fiscal year, the Fund&#39;s portfolio turnover rate was 36% of the average value of its whole portfolio. </p> <p>Principal Investment Strategy </p> <p>The Fund normally invests at least 80% of its assets in equity securities of foreign (including emerging markets) companies. The "equity securities" in which the Fund principally invests are common stocks, depositary receipts, preferred stocks, securities convertible into common stocks, and securities that carry the right to buy common stocks including rights and warrants.</p><p>The Fund will normally invest its assets in investments that are tied economically to a number of countries throughout the world. However, the Fund may invest a significant percentage of its assets in securities of issuers in a single country, a small number of countries, or a particular geographic region. The Fund may invest in companies of any size, including mid- and small-cap companies. Investments are selected primarily based on fundamental analysis of individual issuers and their potential in light of their financial condition, and market, economic, political, and regulatory conditions. Factors considered may include analysis of an issuer&#39;s earnings, cash flows, competitive position, and management ability. Quantitative models that systematically evaluate an issuer&#39;s valuation, price and earnings momentum, earnings quality, and other factors also may be considered.</p> <p>Principal Risks </p> <p>Any investment involves risk, and there is no assurance that the Fund&#39;s objective will be achieved. The Fund is actively managed and the investment techniques and risk analyses used by the Fund&#39;s manager(s) may not produce the desired results. As you consider an investment in the Fund, you also should take into account your tolerance for the daily fluctuations of the financial markets and whether you can afford to leave your money in the Fund for long periods of time to ride out down periods. As with other mutual funds, losing money is a risk of investing in the Fund.</p><p>The equity securities in the Fund&#39;s portfolio are subject to stock market risk. A company&#39;s stock price in general may decline over short or even extended periods, regardless of the success or failure of the company&#39;s operations. Stock markets tend to run in cycles, with periods when stock prices generally go up and periods when stock prices generally go down. Equity securities tend to be more volatile than debt securities. In addition, the Fund invests primarily in foreign securities. There is a possibility that the value of the Fund&#39;s investments in foreign securities will decrease because of unique risks, such as currency exchange-rate fluctuations; foreign market illiquidity; emerging market risk; increased price volatility; uncertain political conditions; exchange control regulations; foreign ownership limits; different accounting, reporting, and disclosure requirements; difficulties in obtaining legal judgments; and foreign withholding taxes. These risks are particularly heightened in this Fund because investments in emerging-market countries generally are more volatile than investments in developed markets. Emerging-market countries are less economically diverse and mature than more developed countries and tend to be politically less stable.</p><p>The Fund&#39;s performance could be closely tied to the market, currency, economic, political, regulatory, geopolitical, or other conditions and developments in the countries or regions in which the Fund invests. As such, the Fund&#39;s performance could be more volatile than the performance of more geographically-diversified funds.</p><p>The Fund&#160;may invest in securities of companies of any market capitalization and is subject to mid- and small-cap company risk, which is the greater risk of investing in smaller, less well-known companies, as opposed to investing in established companies with proven track records. Mid- and small-cap companies also may have limited product lines, markets, or financial resources. Securities of such companies may be less liquid and more volatile than securities of larger companies or the market in general and, therefore, may involve greater risk than investing in the securities of larger companies.</p><p> An investment in the Fund is not a deposit in USAA Federal Savings Bank, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </p> As with other mutual funds, losing money is a risk of investing in the Fund. An investment in the Fund is not a deposit in USAA Federal Savings Bank, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <p>Performance </p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The Fund has four classes of shares: Fund Shares, Institutional Shares, Adviser Shares, and R6 Shares. The R6 Shares commenced operations on August 17, 2018, and will not present performance information until the class has one full calendar year of operations. In the chart and table below, performance results for the Fund&#39;s Fund Shares class, which is not presented in this Prospectus, show annual returns that would be substantially similar to those of the R6 Shares class, because the shares are invested in the same portfolio of securities. However, the annual returns would differ to the extent that the Fund Shares class and the R6 Shares class have different expenses. The bar chart provides some indication of the risks of investing in the Fund and illustrates the Fund Shares class&#39;s volatility and performance from year to year for each full calendar year over the past 10 years. The table shows how the average annual total returns of the share classes for the periods indicated compared to those of the Fund&#39;s benchmark index&#160;and an additional index of funds with similar investment objectives. Performance reflects any expense limitations in effect during the periods shown.</p><p> Remember, historical performance (before and after taxes) does not necessarily indicate what will happen in the future. For the Fund&#39;s most current performance information, log on to <b>usaa.com</b> or call (800) 531-USAA (8722) or (210) 531-8722. </p> The R6 Shares commenced operations on August 17, 2018, and will not present performance information until the class has one full calendar year of operations. In the chart and table below, performance results for the Fund&#39;s Fund Shares class, which is not presented in this Prospectus, show annual returns that would be substantially similar to those of the R6 Shares class, because the shares are invested in the same portfolio of securities. However, the annual returns would differ to the extent that the Fund Shares class and the R6 Shares class have different expenses. The bar chart provides some indication of the risks of investing in the Fund and illustrates the Fund Shares class&#39;s volatility and performance from year to year for each full calendar year over the past 10 years. The table shows how the average annual total returns of the share classes for the periods indicated compared to those of the Fund&#39;s benchmark index&#160;and an additional index of funds with similar investment objectives. Remember, historical performance (before and after taxes) does not necessarily indicate what will happen in the future. <b>usaa.com</b> (800) 531-USAA (8722) or (210) 531-8722 <p>RISK/RETURN BAR CHART<br />Annual Returns for Fund Shares for Periods Ended December 31</p> <table> <tr> <td valign="top" align="left">During the periods shown in the chart: </td> <td valign="top" align="left">Returns </td> <td valign="top" align="left">Quarter ended </td> </tr> <tr> <td valign="top" align="left">Highest Quarter Return </td> <td valign="top" align="left">20.90% </td> <td valign="top" align="left">September 30, 2009</td> </tr> <tr> <td valign="top" align="left">Lowest Quarter Return </td> <td valign="top" align="left">-20.30% </td> <td valign="top" align="left">September 30, 2011</td> </tr> <tr> <td valign="top" align="left">Year-to-Date Return </td> <td valign="top" align="left">-2.68% </td> <td valign="top" align="left">June 30, 2018</td> </tr> </table><p></p><p> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. In certain situations, the return after taxes on distributions and sale of fund shares may be higher than the other return amounts. A higher after-tax return may result when a capital loss occurs upon redemption and translates into an assumed tax deduction that benefits the shareholder. The actual after-tax returns depend on your tax situation and may differ from those shown. If you hold your shares through a tax-deferred arrangement, such as an individual retirement account (IRA) or 401(k) plan, the after-tax returns shown in the table are not relevant to you. Please note that after-tax returns are&#160;only shown&#160;for the Fund Shares and may differ for each share class.</p> After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. In certain situations, the return after taxes on distributions and sale of fund shares may be higher than the other return amounts. A higher after-tax return may result when a capital loss occurs upon redemption and translates into an assumed tax deduction that benefits the shareholder. If you hold your shares through a tax-deferred arrangement, such as an individual retirement account (IRA) or 401(k) plan, the after-tax returns shown in the table are not relevant to you. Please note that after-tax returns are&#160;only shown&#160;for the Fund Shares and may differ for each share class. <p>AVERAGE ANNUAL TOTAL RETURNS<br />For Periods Ended December 31, 2017</p> 0 0.0075 0 0.006 0.0135 -0.005 0.0085 87 378 692 1580 0.36 -0.3525 0.3243 0.0987 -0.0981 0.2207 0.1802 -0.0509 0.0056 0.0175 0.281 Highest Quarter Return 0.209 2009-09-30 Lowest Quarter Return -0.203 2011-09-30 Year-to-Date Return -0.0268 2018-06-30 0.281 0.0798 0.043 0.2718 0.0738 0.0396 0.1666 0.063 0.0348 0.2503 0.0791 0.0194 0.267 0.081 0.025 <div style="display:none">~ http://www.usaa.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.usaa.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.usaa.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.usaa.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.usaa.com/role/ScheduleShareholderFees000012 column period compact * ~</div> The Investment Adviser has agreed, through September 30, 2019, to make payments or waive management, administration, and other fees to limit the expenses of the R6 Shares of the Fund so that the total annual operating expenses (exclusive of commission recapture, expense offset arrangements, acquired fund fees and expenses, and extraordinary expenses) do not exceed an annual rate of 0.85% of the R6 Shares' average daily net assets. This reimbursement arrangement may not be changed or terminated during this time period without approval of the Fund's Board of Trustees and may be changed or terminated by the Investment Adviser at any time after September 30, 2019. 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International Fund

USAA International Fund Summary

Investment Objective

The USAA International Fund (the Fund) seeks capital appreciation.

Fees and Expenses

The tables below describe the fees and expenses that you may pay, directly and indirectly, to invest in the Fund. The annual fund operating expenses for the R6 Shares are based on estimated expenses for the current fiscal year.

Shareholder Fees
Shareholder Fees
International Fund
Fund Shares
USD ($)
(fees paid directly from your investment) none

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses
International Fund
Fund Shares
Management Fee (fluctuates based on the Fund's performance relative to a securities market index) 0.75%
Distribution and/or Service (12b-1) Fees none
Other Expenses 0.60%
Total Annual Operating Expenses 1.35%
Reimbursement from Adviser (0.50%) [1]
Total Annual Operating Expenses After Reimbursement 0.85%
[1] The Investment Adviser has agreed, through September 30, 2019, to make payments or waive management, administration, and other fees to limit the expenses of the R6 Shares of the Fund so that the total annual operating expenses (exclusive of commission recapture, expense offset arrangements, acquired fund fees and expenses, and extraordinary expenses) do not exceed an annual rate of 0.85% of the R6 Shares' average daily net assets. This reimbursement arrangement may not be changed or terminated during this time period without approval of the Fund's Board of Trustees and may be changed or terminated by the Investment Adviser at any time after September 30, 2019.

Example

This example is intended to help you compare the cost of investing in this Fund with the cost of investing in other mutual funds. Although your actual costs may be higher or lower, you would pay the following expenses on a $10,000 investment, assuming (1) a 5% annual return, (2) the Fund's operating expenses remain the same, (3) you redeem all of your shares at the end of the periods shown, and (4) the expense reimbursement arrangement for the R6 Shares is not continued beyond one year.

Expense Example
1 Year
3 Years
5 Years
10 Years
International Fund | Fund Shares | USD ($) 87 378 692 1,580

Portfolio Turnover

The Fund pays transaction costs, including commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares of the Fund are held in a taxable account. These costs, which are not reflected in the Annual Fund Operating Expenses or in the Example, affect the Fund's performance.

For the most recent fiscal year, the Fund's portfolio turnover rate was 36% of the average value of its whole portfolio.

Principal Investment Strategy

The Fund normally invests at least 80% of its assets in equity securities of foreign (including emerging markets) companies. The "equity securities" in which the Fund principally invests are common stocks, depositary receipts, preferred stocks, securities convertible into common stocks, and securities that carry the right to buy common stocks including rights and warrants.

The Fund will normally invest its assets in investments that are tied economically to a number of countries throughout the world. However, the Fund may invest a significant percentage of its assets in securities of issuers in a single country, a small number of countries, or a particular geographic region. The Fund may invest in companies of any size, including mid- and small-cap companies. Investments are selected primarily based on fundamental analysis of individual issuers and their potential in light of their financial condition, and market, economic, political, and regulatory conditions. Factors considered may include analysis of an issuer's earnings, cash flows, competitive position, and management ability. Quantitative models that systematically evaluate an issuer's valuation, price and earnings momentum, earnings quality, and other factors also may be considered.

Principal Risks

Any investment involves risk, and there is no assurance that the Fund's objective will be achieved. The Fund is actively managed and the investment techniques and risk analyses used by the Fund's manager(s) may not produce the desired results. As you consider an investment in the Fund, you also should take into account your tolerance for the daily fluctuations of the financial markets and whether you can afford to leave your money in the Fund for long periods of time to ride out down periods. As with other mutual funds, losing money is a risk of investing in the Fund.

The equity securities in the Fund's portfolio are subject to stock market risk. A company's stock price in general may decline over short or even extended periods, regardless of the success or failure of the company's operations. Stock markets tend to run in cycles, with periods when stock prices generally go up and periods when stock prices generally go down. Equity securities tend to be more volatile than debt securities. In addition, the Fund invests primarily in foreign securities. There is a possibility that the value of the Fund's investments in foreign securities will decrease because of unique risks, such as currency exchange-rate fluctuations; foreign market illiquidity; emerging market risk; increased price volatility; uncertain political conditions; exchange control regulations; foreign ownership limits; different accounting, reporting, and disclosure requirements; difficulties in obtaining legal judgments; and foreign withholding taxes. These risks are particularly heightened in this Fund because investments in emerging-market countries generally are more volatile than investments in developed markets. Emerging-market countries are less economically diverse and mature than more developed countries and tend to be politically less stable.

The Fund's performance could be closely tied to the market, currency, economic, political, regulatory, geopolitical, or other conditions and developments in the countries or regions in which the Fund invests. As such, the Fund's performance could be more volatile than the performance of more geographically-diversified funds.

The Fund may invest in securities of companies of any market capitalization and is subject to mid- and small-cap company risk, which is the greater risk of investing in smaller, less well-known companies, as opposed to investing in established companies with proven track records. Mid- and small-cap companies also may have limited product lines, markets, or financial resources. Securities of such companies may be less liquid and more volatile than securities of larger companies or the market in general and, therefore, may involve greater risk than investing in the securities of larger companies.

An investment in the Fund is not a deposit in USAA Federal Savings Bank, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Performance

The following bar chart and table are intended to help you understand the risks of investing in the Fund. The Fund has four classes of shares: Fund Shares, Institutional Shares, Adviser Shares, and R6 Shares. The R6 Shares commenced operations on August 17, 2018, and will not present performance information until the class has one full calendar year of operations. In the chart and table below, performance results for the Fund's Fund Shares class, which is not presented in this Prospectus, show annual returns that would be substantially similar to those of the R6 Shares class, because the shares are invested in the same portfolio of securities. However, the annual returns would differ to the extent that the Fund Shares class and the R6 Shares class have different expenses. The bar chart provides some indication of the risks of investing in the Fund and illustrates the Fund Shares class's volatility and performance from year to year for each full calendar year over the past 10 years. The table shows how the average annual total returns of the share classes for the periods indicated compared to those of the Fund's benchmark index and an additional index of funds with similar investment objectives. Performance reflects any expense limitations in effect during the periods shown.

Remember, historical performance (before and after taxes) does not necessarily indicate what will happen in the future. For the Fund's most current performance information, log on to usaa.com or call (800) 531-USAA (8722) or (210) 531-8722.

RISK/RETURN BAR CHART
Annual Returns for Fund Shares for Periods Ended December 31

Bar Chart
During the periods shown in the chart: Returns Quarter ended
Highest Quarter Return 20.90% September 30, 2009
Lowest Quarter Return -20.30% September 30, 2011
Year-to-Date Return -2.68% June 30, 2018

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. In certain situations, the return after taxes on distributions and sale of fund shares may be higher than the other return amounts. A higher after-tax return may result when a capital loss occurs upon redemption and translates into an assumed tax deduction that benefits the shareholder. The actual after-tax returns depend on your tax situation and may differ from those shown. If you hold your shares through a tax-deferred arrangement, such as an individual retirement account (IRA) or 401(k) plan, the after-tax returns shown in the table are not relevant to you. Please note that after-tax returns are only shown for the Fund Shares and may differ for each share class.

AVERAGE ANNUAL TOTAL RETURNS
For Periods Ended December 31, 2017

Average Annual Total Returns - International Fund
Past1 Year
Past5 Years
Past10 Years
Fund Shares 28.10% 7.98% 4.30%
Fund Shares | Return After Taxes on Distributions 27.18% 7.38% 3.96%
Fund Shares | Return After Taxes on Distributions and Sale of Fund Shares 16.66% 6.30% 3.48%
MSCI EAFE Index (reflects no deduction for fees, expenses, or taxes) 25.03% 7.91% 1.94%
Lipper International Funds Index (reflects no deduction for taxes) 26.70% 8.10% 2.50%

XML 13 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName USAA Mutual Funds Trust
Prospectus Date rr_ProspectusDate Aug. 17, 2018
International Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

USAA International Fund Summary

Objective [Heading] rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The USAA International Fund (the Fund) seeks capital appreciation.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

The tables below describe the fees and expenses that you may pay, directly and indirectly, to invest in the Fund. The annual fund operating expenses for the R6 Shares are based on estimated expenses for the current fiscal year.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination September 30, 2019
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, including commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when shares of the Fund are held in a taxable account. These costs, which are not reflected in the Annual Fund Operating Expenses or in the Example, affect the Fund's performance.

For the most recent fiscal year, the Fund's portfolio turnover rate was 36% of the average value of its whole portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 36.00%
Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in this Fund with the cost of investing in other mutual funds. Although your actual costs may be higher or lower, you would pay the following expenses on a $10,000 investment, assuming (1) a 5% annual return, (2) the Fund's operating expenses remain the same, (3) you redeem all of your shares at the end of the periods shown, and (4) the expense reimbursement arrangement for the R6 Shares is not continued beyond one year.

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategy

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund normally invests at least 80% of its assets in equity securities of foreign (including emerging markets) companies. The "equity securities" in which the Fund principally invests are common stocks, depositary receipts, preferred stocks, securities convertible into common stocks, and securities that carry the right to buy common stocks including rights and warrants.

The Fund will normally invest its assets in investments that are tied economically to a number of countries throughout the world. However, the Fund may invest a significant percentage of its assets in securities of issuers in a single country, a small number of countries, or a particular geographic region. The Fund may invest in companies of any size, including mid- and small-cap companies. Investments are selected primarily based on fundamental analysis of individual issuers and their potential in light of their financial condition, and market, economic, political, and regulatory conditions. Factors considered may include analysis of an issuer's earnings, cash flows, competitive position, and management ability. Quantitative models that systematically evaluate an issuer's valuation, price and earnings momentum, earnings quality, and other factors also may be considered.

Risk [Heading] rr_RiskHeading

Principal Risks

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Any investment involves risk, and there is no assurance that the Fund's objective will be achieved. The Fund is actively managed and the investment techniques and risk analyses used by the Fund's manager(s) may not produce the desired results. As you consider an investment in the Fund, you also should take into account your tolerance for the daily fluctuations of the financial markets and whether you can afford to leave your money in the Fund for long periods of time to ride out down periods. As with other mutual funds, losing money is a risk of investing in the Fund.

The equity securities in the Fund's portfolio are subject to stock market risk. A company's stock price in general may decline over short or even extended periods, regardless of the success or failure of the company's operations. Stock markets tend to run in cycles, with periods when stock prices generally go up and periods when stock prices generally go down. Equity securities tend to be more volatile than debt securities. In addition, the Fund invests primarily in foreign securities. There is a possibility that the value of the Fund's investments in foreign securities will decrease because of unique risks, such as currency exchange-rate fluctuations; foreign market illiquidity; emerging market risk; increased price volatility; uncertain political conditions; exchange control regulations; foreign ownership limits; different accounting, reporting, and disclosure requirements; difficulties in obtaining legal judgments; and foreign withholding taxes. These risks are particularly heightened in this Fund because investments in emerging-market countries generally are more volatile than investments in developed markets. Emerging-market countries are less economically diverse and mature than more developed countries and tend to be politically less stable.

The Fund's performance could be closely tied to the market, currency, economic, political, regulatory, geopolitical, or other conditions and developments in the countries or regions in which the Fund invests. As such, the Fund's performance could be more volatile than the performance of more geographically-diversified funds.

The Fund may invest in securities of companies of any market capitalization and is subject to mid- and small-cap company risk, which is the greater risk of investing in smaller, less well-known companies, as opposed to investing in established companies with proven track records. Mid- and small-cap companies also may have limited product lines, markets, or financial resources. Securities of such companies may be less liquid and more volatile than securities of larger companies or the market in general and, therefore, may involve greater risk than investing in the securities of larger companies.

An investment in the Fund is not a deposit in USAA Federal Savings Bank, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Risk Lose Money [Text] rr_RiskLoseMoney As with other mutual funds, losing money is a risk of investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit in USAA Federal Savings Bank, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and table are intended to help you understand the risks of investing in the Fund. The Fund has four classes of shares: Fund Shares, Institutional Shares, Adviser Shares, and R6 Shares. The R6 Shares commenced operations on August 17, 2018, and will not present performance information until the class has one full calendar year of operations. In the chart and table below, performance results for the Fund's Fund Shares class, which is not presented in this Prospectus, show annual returns that would be substantially similar to those of the R6 Shares class, because the shares are invested in the same portfolio of securities. However, the annual returns would differ to the extent that the Fund Shares class and the R6 Shares class have different expenses. The bar chart provides some indication of the risks of investing in the Fund and illustrates the Fund Shares class's volatility and performance from year to year for each full calendar year over the past 10 years. The table shows how the average annual total returns of the share classes for the periods indicated compared to those of the Fund's benchmark index and an additional index of funds with similar investment objectives. Performance reflects any expense limitations in effect during the periods shown.

Remember, historical performance (before and after taxes) does not necessarily indicate what will happen in the future. For the Fund's most current performance information, log on to usaa.com or call (800) 531-USAA (8722) or (210) 531-8722.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The R6 Shares commenced operations on August 17, 2018, and will not present performance information until the class has one full calendar year of operations. In the chart and table below, performance results for the Fund's Fund Shares class, which is not presented in this Prospectus, show annual returns that would be substantially similar to those of the R6 Shares class, because the shares are invested in the same portfolio of securities. However, the annual returns would differ to the extent that the Fund Shares class and the R6 Shares class have different expenses. The bar chart provides some indication of the risks of investing in the Fund and illustrates the Fund Shares class's volatility and performance from year to year for each full calendar year over the past 10 years. The table shows how the average annual total returns of the share classes for the periods indicated compared to those of the Fund's benchmark index and an additional index of funds with similar investment objectives.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (800) 531-USAA (8722) or (210) 531-8722
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress usaa.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Remember, historical performance (before and after taxes) does not necessarily indicate what will happen in the future.
Bar Chart [Heading] rr_BarChartHeading

RISK/RETURN BAR CHART
Annual Returns for Fund Shares for Periods Ended December 31

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
During the periods shown in the chart: Returns Quarter ended
Highest Quarter Return 20.90% September 30, 2009
Lowest Quarter Return -20.30% September 30, 2011
Year-to-Date Return -2.68% June 30, 2018

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. In certain situations, the return after taxes on distributions and sale of fund shares may be higher than the other return amounts. A higher after-tax return may result when a capital loss occurs upon redemption and translates into an assumed tax deduction that benefits the shareholder. The actual after-tax returns depend on your tax situation and may differ from those shown. If you hold your shares through a tax-deferred arrangement, such as an individual retirement account (IRA) or 401(k) plan, the after-tax returns shown in the table are not relevant to you. Please note that after-tax returns are only shown for the Fund Shares and may differ for each share class.

Performance Table Heading rr_PerformanceTableHeading

AVERAGE ANNUAL TOTAL RETURNS
For Periods Ended December 31, 2017

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred If you hold your shares through a tax-deferred arrangement, such as an individual retirement account (IRA) or 401(k) plan, the after-tax returns shown in the table are not relevant to you.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown Please note that after-tax returns are only shown for the Fund Shares and may differ for each share class.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher In certain situations, the return after taxes on distributions and sale of fund shares may be higher than the other return amounts. A higher after-tax return may result when a capital loss occurs upon redemption and translates into an assumed tax deduction that benefits the shareholder.
International Fund | Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
(fees paid directly from your investment) rr_ShareholderFeeOther none
Management Fee (fluctuates based on the Fund's performance relative to a securities market index) rr_ManagementFeesOverAssets 0.75%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.60%
Total Annual Operating Expenses rr_ExpensesOverAssets 1.35%
Reimbursement from Adviser rr_FeeWaiverOrReimbursementOverAssets (0.50%) [1]
Total Annual Operating Expenses After Reimbursement rr_NetExpensesOverAssets 0.85%
1 Year rr_ExpenseExampleYear01 $ 87
3 Years rr_ExpenseExampleYear03 378
5 Years rr_ExpenseExampleYear05 692
10 Years rr_ExpenseExampleYear10 $ 1,580
2008 rr_AnnualReturn2008 (35.25%)
2009 rr_AnnualReturn2009 32.43%
2010 rr_AnnualReturn2010 9.87%
2011 rr_AnnualReturn2011 (9.81%)
2012 rr_AnnualReturn2012 22.07%
2013 rr_AnnualReturn2013 18.02%
2014 rr_AnnualReturn2014 (5.09%)
2015 rr_AnnualReturn2015 0.56%
2016 rr_AnnualReturn2016 1.75%
2017 rr_AnnualReturn2017 28.10%
Year to Date Return, Label rr_YearToDateReturnLabel Year-to-Date Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn (2.68%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Highest Quarter Return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.90%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Lowest Quarter Return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (20.30%)
Past1 Year rr_AverageAnnualReturnYear01 28.10%
Past5 Years rr_AverageAnnualReturnYear05 7.98%
Past10 Years rr_AverageAnnualReturnYear10 4.30%
International Fund | Return After Taxes on Distributions | Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Past1 Year rr_AverageAnnualReturnYear01 27.18%
Past5 Years rr_AverageAnnualReturnYear05 7.38%
Past10 Years rr_AverageAnnualReturnYear10 3.96%
International Fund | Return After Taxes on Distributions and Sale of Fund Shares | Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Past1 Year rr_AverageAnnualReturnYear01 16.66%
Past5 Years rr_AverageAnnualReturnYear05 6.30%
Past10 Years rr_AverageAnnualReturnYear10 3.48%
International Fund | MSCI EAFE Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past1 Year rr_AverageAnnualReturnYear01 25.03%
Past5 Years rr_AverageAnnualReturnYear05 7.91%
Past10 Years rr_AverageAnnualReturnYear10 1.94%
International Fund | Lipper International Funds Index (reflects no deduction for taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past1 Year rr_AverageAnnualReturnYear01 26.70%
Past5 Years rr_AverageAnnualReturnYear05 8.10%
Past10 Years rr_AverageAnnualReturnYear10 2.50%
[1] The Investment Adviser has agreed, through September 30, 2019, to make payments or waive management, administration, and other fees to limit the expenses of the R6 Shares of the Fund so that the total annual operating expenses (exclusive of commission recapture, expense offset arrangements, acquired fund fees and expenses, and extraordinary expenses) do not exceed an annual rate of 0.85% of the R6 Shares' average daily net assets. This reimbursement arrangement may not be changed or terminated during this time period without approval of the Fund's Board of Trustees and may be changed or terminated by the Investment Adviser at any time after September 30, 2019.
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName USAA Mutual Funds Trust
Prospectus Date rr_ProspectusDate Aug. 17, 2018
Document Creation Date dei_DocumentCreationDate Aug. 15, 2018
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