CBHIX Fees and Costs — Victory Market Neutral Income Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 0.41%: a 0.35% management fee plus 0.23% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2.2M in broker commissions, 0.0781% of average net assets, and portfolio turnover was 60%.
CBHIX Fees and Expenses
Annual operating expenses and sales charges of CBHIX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.58% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.41% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CBHIX Costs Over Time
On $10,000 invested in CBHIX, assuming 5% a year before costs, total costs come to $308 over 5 years, cutting the return by 0.51% 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 0.41%) | $43 | $135 | $235 |
| Trading costs (broker commissions) | $8 | $26 | $45 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $169 | $308 |
| Value after costs | $10,449 | $11,408 | $12,454 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
CBHIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0781%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $7.0M
- Portfolio turnover (prospectus): 60%
- Securities on loan, average value: $15.7M
- Net income from securities lending: $36K (0.001% of average net assets)
CBHIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $421K | 21.38% |
| Citigroup Global Markets Inc. | $347K | 17.64% |
| J.P. Morgan Securities LLC | $255K | 12.98% |
| RBC Capital Markets, LLC | $213K | 10.81% |
| Academy Securities Inc. | $158K | 8.04% |
| BofA Securities, Inc. | $149K | 7.55% |
| Citadel Securities LLC | $142K | 7.24% |
| Goldman Sachs & Co. LLC | $117K | 5.97% |
| Virtu Americas LLC | $85K | 4.32% |
| Wallachbeth Capital LLC | $80K | 4.08% |
CBHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $6.8M | 96.97% |
| Wallachbeth Capital LLC | $104K | 1.49% |
| Virtu Americas LLC | $67K | 0.95% |
| Academy Securities Inc. | $27K | 0.39% |
| Morgan Stanley & Co. LLC | $14K | 0.21% |
Victory Market Neutral Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CBHIX | Class I | 0.41% | none |
| CBHMX | Member Class | 0.56% | none |
| CBHAX | Class A | 0.76% | 5.75% |
| CBHCX | Class C | 1.51% | none |
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.