REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and
Board of Trustees of USAA Mutual Funds Trust

In planning and performing our audit of the financial statements of the USAA
Mutual Funds Trust (comprising the USAA Aggressive Growth Fund, the USAA
Capital Growth Fund,  the USAA Growth & Income Fund, the USAA Growth Fund,
the USAA High Income Fund, the USAA Income Fund, the USAA Income Stock Fund,
the USAA Intermediate-Term Bond Fund, the USAA Money Market Fund, the USAA
Science & Technology Fund, the USAA Short-Term Bond Fund, the USAA Small Cap
Stock Fund, and the USAA Value Fund) as of and for the year ended July 31,
2018, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), we considered USAA Mutual Funds Trusts
internal control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing procedures
for the purpose of expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, but not for the purpose of
expressing an opinion on the effectiveness of USAA Mutual Funds Trusts
internal control over financial reporting. Accordingly, we express no such
opinion.

The management of USAA Mutual Funds Trust is responsible for establishing
and maintaining effective internal control over financial reporting. In
fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of controls.
USAA Mutual Funds Trusts internal control over financial reporting is a
process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting
principles. USAA Mutual Funds Trusts internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of  USAA Mutual
Funds Trust; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that
receipts and expenditures of USAA Mutual Funds Trust are being made only
in accordance with authorizations of management and directors of USAA
Mutual Funds Trust; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or
disposition of USAA Mutual Funds Trusts assets that could have a
material effect on the financial statements.

Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections
of any evaluation of effectiveness to future periods are subject to the
risk that controls may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.

A deficiency in internal control over financial reporting exists when
the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned
functions, to prevent or detect misstatements on a timely basis. A
material weakness is a deficiency, or a combination of deficiencies,
in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of USAA Mutual
Funds Trusts annual or interim financial statements will not be
prevented or detected on a timely basis.

Our consideration of USAA Mutual Funds Trusts internal control over
financial reporting was for the limited purpose described in the
first paragraph and would not necessarily disclose all deficiencies
in internal control that might be material weaknesses under standards
established by the Public Company Accounting Oversight Board (United
States). However, we noted no deficiencies in USAA Mutual Funds
Trusts internal control over financial reporting and its operation,
including controls over safeguarding securities that we consider to
be a material weakness as defined above as of July 31, 2018.

This report is intended solely for the information and use of
management and the Board of Trustees of USAA Mutual Funds Trust and
the Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified parties.



/s/ ERNST & YOUNG LLP


Ernst & Young LLP

San Antonio, TX
September 21, 2018