ACBKX Fees and Costs — Victory Pioneer CAT Bond Fund, Class R6
Data updated: 2026-09-28
The net expense ratio is 1.31%: a 1.20% management fee plus 0.11% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 11%.
ACBKX Fees and Expenses
Annual operating expenses and sales charges of ACBKX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.31% |
| Fee waiver | — |
| Net expense ratio | 1.31% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ACBKX Costs Over Time
On $10,000 invested in ACBKX, assuming 5% a year before costs, total costs come to $814 over 5 years, cutting the return by 1.38% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.31%) | $138 | $428 | $739 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $449 | $814 |
| Value after costs | $10,362 | $11,127 | $11,948 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
ACBKX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 11%
- Securities lending: none during the year
ACBKX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| AON SECURITIES LLC | $289.9M | 28.48% |
| MMC SECURITIES LLC | $194.5M | 19.11% |
| SWISS REINSURANCE COMPANY LTD | $134.9M | 13.26% |
| ARTEX RISK SOLUTIONS INC. | $127.5M | 12.53% |
| GALLAGHER SECURITIES, INC | $74.3M | 7.30% |
| TP ICAP GLOBAL MARKETS AMERICAS LLC | $51.5M | 5.06% |
| RBC CAPITAL MARKETS, LLC | $44.5M | 4.37% |
| BNY MELLON CAPITAL MARKETS, LLC | $40.3M | 3.96% |
| BEECH HILL SECURITIES, INC. | $37.3M | 3.66% |
| EUROCLEAR BANK | $23.3M | 2.29% |
Victory Pioneer CAT Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ACBKX | Class R6 | 1.31% | none |
| CBYYX | Class Y | 1.44% | none |
| ACBAX | Class A | 1.70% | 2.25% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.