Victory California Bond Fund
Data updated: 2026-07-27
C000091162 — Victory California Bond Fund. Long Municipal - National Bond · $396.83M AUM · 0.80% expense ratio. Holdings, fees, performance and SEC filings.
C000091162 Fund Overview
Victory California Bond Fund is a US mutual fund managed by Victory Portfolios III, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Victory Portfolios III
- Category: Long Municipal - National Bond
- Assets under management: $396.83M
- SEC CIK: 0000908695
- SEC series ID: S000012916
- Share class ID: C000091162
C000091162 Investment Objective and Strategy
Victory California Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Victory Portfolios III.
Investment objective
The Victory California Bond Fund (the Fund) provides California investors with a high level of current interest income that is exempt from federal and California state income taxes.
Principal investment strategy
The Fund invests primarily in long-term investment-grade securities issued by the state of California, its political subdivisions, instrumentalities, and by other government entities, the interest on which is excludable from gross income for federal income tax and California state income tax purposes (referred to herein as California tax-exempt securities). During normal market conditions, at least 80% of the Funds net assets will consist of California tax-exempt securities. This policy may be changed only by a shareholder vote. The effective duration of the Fund is not restricted but generally is expected to be within three years of the Fund's benchmark. The effective duration of the Fund is not restricted but generally is expected to be within three years of the Fund's benchmark. When weighing the decision to buy or sell a security, the Adviser strives to balance the amount of the tax-exempt income, the credit risk of the issuer, and the price volatility of the bond.
The Adviser generally intends to hold investments until maturity, resulting in lower portfolio turnover in the Fund, although these intentions may be adjusted in response to the market or other events. In addition, during normal market conditions, at least 80% of the Funds annual net investment income dividends will be tax-exempt and excludable from the calculation of the federal alternative minimum tax (AMT) for individual taxpayers. This policy may be changed only by a shareholder vote.
C000091162 Holdings
Top 10 holdings of Victory California Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Bay Area Toll Auth Calif Toll Brdg Rev | 3.78% |
| California Health Facs Fing Auth Rev | 3.53% |
| San Francisco Calif City & Cnty Arpts Commn Intl Arpt Rev | 3.21% |
| Foothill / Eastern Transn Corridor Agy Calif Toll Rd Rev | 2.96% |
| Palomar Pomerado Health Calif | 2.54% |
| California Health Facs Fing Auth Rev | 2.30% |
| Centinela Valley Calif Un High Sch | 2.15% |
| California Health Facs Fing Auth Rev | 1.78% |
| Moreno Valley Calif Uni Sch Dist | 1.68% |
| Norwalk La Mirada Calif Uni Sch Dist | 1.67% |
C000091162 Portfolio Allocation
Asset-class allocation of Victory California Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 99.3% |
C000091162 Costs and Fees
C000091162 costs about $80 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.80%
- Gross expense ratio: 0.80%
- Portfolio turnover: 11%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000091162 Cashflows
Over the 12 months to 2026-05, Victory California Bond Fund had net outflows of $40.83M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$2.30M |
| 2026-04 | −$1.47M |
| 2026-03 | −$389.72K |
| 2026-02 | −$1.58M |
| 2026-01 | −$758.49K |
| 2025-12 | −$2.98M |
C000091162 Debt Constituents
Largest debt holdings of Victory California Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Bay Area Toll Auth Calif Toll Brdg Rev | 3.78% |
| California Health Facs Fing Auth Rev | 3.53% |
| San Francisco Calif City & Cnty Arpts Commn Intl Arpt Rev | 3.21% |
| Foothill / Eastern Transn Corridor Agy Calif Toll Rd Rev | 2.96% |
| Palomar Pomerado Health Calif | 2.54% |
| California Health Facs Fing Auth Rev | 2.30% |
| Centinela Valley Calif Un High Sch | 2.15% |
| California Health Facs Fing Auth Rev | 1.78% |
| Moreno Valley Calif Uni Sch Dist | 1.68% |
| Norwalk La Mirada Calif Uni Sch Dist | 1.67% |
C000091162 Prospectus and SEC Filings
Official Victory California Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-06-26
- Prospectus (485BPOS) — filed 2025-06-26
- Prospectus (485BPOS) — filed 2024-06-27
- Portfolio holdings (N-PORT) — filed 2026-07-27
- Portfolio holdings (N-PORT) — filed 2026-04-24
- Portfolio holdings (N-PORT) — filed 2026-01-27
- Annual census (N-CEN) — filed 2026-05-11
- Annual census (N-CEN) — filed 2025-05-13
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.