USAA currently does not issue ETFs, but previously filed plans to do so. A recent filing by the company with the Securities and Exchange outlines the effort to offer ETF and mutual fund shares.
“Applicants request that the Order apply not only to the existing series of the Trusts, but also to any future series of the Trusts, as well as other future open-end management companies that may utilize active management investment strategies (the ‘Future Funds’). Any Future Fund will (a) be advised by USAA AMC, or an entity controlling, controlled by, or under common control with USAA AMC (each entity included in the term ‘Advisor’), (b) offer both ETF Shares and Mutual Fund Shares as described in this Application, and (c) comply with the terms and conditions of the Prior Order, as amended by this Application. The existing series of the Trusts and future funds together are each a ‘Multiclass Fund’ and collectively the ‘Multiclass Funds,’” according to the USAA filing.
ETF Trends editorial team contributed to this article.