How This $14 Million Bond ETF Position Signals a Clear Risk-Off Move in Late 2025

On November 14, New Hampshire-based Northeast Planning Associates disclosed a buy of 120,572 shares of the VictoryShares Core Intermediate Bond ETF (NASDAQ:UITB), increasing its position by approximately $5.80 million.

What Happened

According to an SEC filing dated November 14, Northeast Planning Associates increased its stake in VictoryShares Core Intermediate Bond ETF (NASDAQ:UITB) by 120,572 shares. The end-of-quarter position totaled 287,198 shares with a value of $13.65 million. This move makes UITB the fund's second-largest holding among 51 total positions reported.

What Else to Know

UITB was about 11.58% of the fund's reportable assets as of September 30.

Top holdings after the filing:

• NYSEMKT: SLV: $19.22 million (16.3% of AUM)
• NASDAQ: UITB: $13.65 million (11.6% of AUM)
• NASDAQ: USTB: $12.65 million (10.7% of AUM)
• NYSEMKT: JPST: $11.08 million (9.4% of AUM)
• NYSEMKT: GDX: $7.97 million (6.8% of AUM)

As of Monday, UITB shares were priced at $47.41, up about 3% over the past year.

ETF Overview

Metric	Value
AUM	$2.68 billion
Yield	4%
Price (as of Monday)	$47.41

ETF Snapshot

• UITB's investment strategy focuses on investing at least 80% of assets in U.S. and foreign debt securities, with flexibility to allocate up to 20% in non-U.S. dollar and emerging market bonds.
• The portfolio composition may utilize derivatives and other instruments with economic characteristics similar to debt securities.
• It's structured as an exchange-traded fund providing diversified fixed income exposure.

The VictoryShares USAA Core Intermediate-Term Bond ETF offers investors diversified access to intermediate-term fixed income markets, with a focus on investment-grade bonds and selective exposure to foreign and emerging market debt. The fund's strategy seeks to balance yield and risk by maintaining a core allocation to high-quality debt while allowing tactical flexibility. With a substantial asset base and a disciplined investment approach, the ETF is positioned to serve as a core fixed income holding for a broad range of investors.

Foolish Take

By elevating this intermediate-term bond ETF to the second-largest holding in a 51-position portfolio, Northeast Planning is effectively anchoring client assets around stability.

Zooming out, the broader portfolio reinforces that message. The top holdings skew heavily toward defensive and ballast-style exposures, with precious metals, short-duration Treasurys, and core bond strategies dominating the top tier. Against that backdrop, an intermediate-term bond ETF with an AA average credit profile, meaningful government exposure, and a duration under six years fits neatly into a capital-preservation framework. According to Morningstar data, roughly two-thirds of the portfolio sits in AAA-rated bonds, with government securities accounting for more than 40% of assets, underscoring how little credit risk is being taken.

Performance hasn’t been flashy. A roughly 3% gain over the past year trails equities by a wide margin. However, this looks like a portfolio built to dampen volatility, generate predictable income, and hold up if equity markets reprice risk.

Glossary

Assets under management (AUM): The total market value of assets an investment manager or fund controls on behalf of clients.

13F reportable assets: Securities that institutional investment managers must disclose quarterly to the SEC under Form 13F regulations.

Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.

Alpha: A measure of an investment's performance relative to a benchmark, showing excess return above the benchmark.

Trailing twelve-month (TTM) dividend yield: Dividend yield calculated using dividends paid over the past twelve months.

Intermediate-term bond: A bond with a maturity typically between three and 10 years, balancing yield and interest rate risk.

Fixed income: Investments that pay regular interest, such as bonds, providing predictable income streams.

Investment-grade bonds: Bonds rated as relatively low risk of default by credit rating agencies, typically BBB- or higher.

Emerging market bonds: Bonds issued by governments or companies in developing countries, often with higher risk and yield.

Derivatives: Financial contracts whose value is derived from underlying assets like stocks, bonds, or indexes.

Core allocation: The central portion of a portfolio, designed to provide stability and consistent returns.

Exchange-traded fund (ETF): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.