FLYRX Fees and Costs — Victory Pioneer Floating Rate Fund, Class Y
Data updated: 2026-09-28
The net expense ratio is 0.78% (0.93% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $30K in broker commissions, 0.0102% of average net assets, and portfolio turnover was 81%.
FLYRX Fees and Expenses
Annual operating expenses and sales charges of FLYRX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.78% |
| 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 |
FLYRX Costs Over Time
On $10,000 invested in FLYRX, assuming 5% a year before costs, total costs come to $496 over 5 years, cutting the return by 0.83% 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 0.78%) | $82 | $256 | $445 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $272 | $496 |
| Value after costs | $10,417 | $11,304 | $12,266 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
FLYRX 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): 0.0102%
- Total broker commissions: $30K
- Bought from dealers (principal trades, not a cost): $500.4M
- Portfolio turnover (prospectus): 81%
- Securities lending: none during the year
FLYRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $9K | 29.83% |
| INSTINET, LLC | $8K | 27.01% |
| GOLDMAN SACHS & CO. LLC | $5K | 15.27% |
| UBS Securities LLC | $3K | 9.46% |
| J.P. Morgan Securities LLC | $2K | 6.73% |
| Jefferies LLC | $2K | 4.99% |
| SG AMERICAS SECURITIES LLC | $1K | 4.80% |
| LEVEL MARKETS, LLC | $212 | 0.70% |
| Stifel, Nicolaus & Company, Incorporated | $207 | 0.69% |
| MORGAN STANLEY & CO. LLC | $157 | 0.52% |
FLYRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $306.3M | 65.96% |
| J.P. Morgan Securities LLC | $39.4M | 8.49% |
| BARCLAYS CAPITAL, INC. | $23.2M | 5.00% |
| GOLDMAN SACHS & CO. LLC | $23.0M | 4.94% |
| MORGAN STANLEY & CO. LLC | $17.8M | 3.84% |
| JEFFERIES LLC | $15.1M | 3.25% |
| CitiGroup Global Markets Inc. | $13.2M | 2.83% |
| WELLS FARGO SECURITIES, LLC | $11.8M | 2.54% |
| UBS SECURITIES LLC | $8.0M | 1.72% |
| DEUTSCHE BANK SECURITIES, INC. | $6.7M | 1.43% |
Victory Pioneer Floating Rate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FLRKX | C000256551 | 0.78% | none |
| FLYRX | Class Y | 0.78% | none |
| FLARX | Class A | 1.08% | 2.25% |
| FLRCX | Class C | 1.85% | 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.