CVKFX Fees and Costs — Victory Pioneer Disciplined Value Fund, Class R6
Data updated: 2026-07-27
The net expense ratio is 0.45%: a 0.40% management fee plus 0.13% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $248K in broker commissions, 0.0613% of average net assets, and portfolio turnover was 86%.
CVKFX Fees and Expenses
Annual operating expenses and sales charges of CVKFX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.53% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.45% |
| 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 |
CVKFX Costs Over Time
On $10,000 invested in CVKFX, assuming 5% a year before costs, total costs come to $323 over 5 years, cutting the return by 0.54% 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 0.45%) | $47 | $148 | $258 |
| Trading costs (broker commissions) | $6 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $54 | $177 | $323 |
| Value after costs | $10,446 | $11,400 | $12,440 |
| Impact on return, per year | 0.54% | 0.54% | 0.54% |
CVKFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0613%
- Total broker commissions: $248K
- Bought from dealers (principal trades, not a cost): $4.0M
- Portfolio turnover (prospectus): 86%
- Securities lending: none during the year
CVKFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $45K | 24.05% |
| PIPER SANDLER & CO. | $24K | 12.94% |
| KEZAR TRADING, LLC | $21K | 10.98% |
| EVERCORE GROUP L.L.C. | $19K | 10.29% |
| JEFFERIES LLC | $18K | 9.38% |
| WELLS FARGO SECURITIES, LLC | $15K | 7.94% |
| Pershing LLC | $12K | 6.59% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $12K | 6.46% |
| CITIGROUP GLOBAL MARKETS INC. | $11K | 5.69% |
| GOLDMAN SACHS & CO. LLC | $11K | 5.67% |
CVKFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $4.0M | 99.92% |
| J.P. Morgan Securities LLC | $3K | 0.08% |
Victory Pioneer Disciplined Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CVFYX | Class Y | 0.45% | none |
| CVKFX | Class R6 | 0.45% | none |
| CVFCX | Class A | 0.80% | 5.75% |
| CVCFX | Class C | 1.56% | 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.