INTERNAL CONTROL RPT

      Report of Independent Registered Public Accounting Firm


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

In planning and performing our audits of the financial statements of the
USAA Mutual Funds Trust (comprising the USAA Extended Market Index Fund,
USAA Global Managed Volatility Fund, USAA NASDAQ-100 Index Fund, USAA S&P
500 Index Fund, USAA Target Retirement Income Fund, USAA Target Retirement
2020 Fund, USAA Target Retirement 2030 Fund, USAA Target Retirement 2040
Fund, USAA Target Retirement 2050 Fund, USAA Target Retirement 2060 Fund,
and USAA Ultra Short-Term Bond Fund) (the Trust) as of and for the year
ended December 31, 2018, in accordance with the standards of the Public
Company Accounting Oversight Board (United States), we considered the
Trust's 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-CEN, but not
for the purpose of expressing an opinion on the effectiveness of the
Trust's internal control over financial reporting. Accordingly, we
express no such opinion.

The management of the 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. A trust's 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
U.S. generally accepted accounting principles. A trust's 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 the
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 the trust are being made only in accordance with authorizations of
management and trustees of the trust; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use
or disposition of a trust's 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 the Trust's annual or interim financial statements
will not be prevented or detected on a timely basis.

Our consideration of the Trust's 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 the Trust's 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 December 31,
2018).

This report is intended solely for the information and use of management
and the Board of Trustees of the 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


San Antonio, TX
February 22, 2019

OTHER REQUIRED INFO

                           SIGNATURES



Pursuant to the requirements of the Investment Company Act of 1940, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


	USAA MUTUAL FUNDS TRUST
	        (Registrant)



 Date:  March 13, 2019
	________________________
	/S/ KRISTEN MILLAN
	________________________
	(Signature)*

	Kristen Millan
	Secretary



*Print full name and title of the signing officer under his/her signature.