GPAFX Fees and Costs — Victory RS Large Cap Alpha Fund, Class A
Data updated: 2026-08-26
The net expense ratio is 0.89%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.15% other expenses, less a 0.01% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $192K in broker commissions, 0.0364% of average net assets, and portfolio turnover was 44%.
GPAFX Fees and Expenses
Annual operating expenses and sales charges of GPAFX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.90% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
GPAFX Costs Over Time
On $10,000 invested in GPAFX, assuming 5% a year before costs, total costs come to $1,281 over 5 years, cutting the return by 2.20% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 0.89%) | $88 | $275 | $477 |
| Trading costs (broker commissions) | $4 | $11 | $20 |
| Lost growth on money paid in costs | $29 | $105 | $209 |
| Total costs | $695 | $966 | $1,281 |
| Value after costs | $9,805 | $10,610 | $11,482 |
| Impact on return, per year | 6.95% | 3.01% | 2.20% |
GPAFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0364%
- Total broker commissions: $192K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 44%
- Securities on loan, average value: $37K
- Net income from securities lending: $1 (0.000% of average net assets)
GPAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| William Blair & Company, L.L.C. | $17K | 14.25% |
| Jefferies LLC | $17K | 13.68% |
| Robert W. Baird & Co. Incorporated | $16K | 13.30% |
| Evercore Group L.L.C. | $15K | 11.96% |
| Instinet, LLC | $12K | 10.19% |
| KeyBanc Capital Markets Inc. | $12K | 9.52% |
| Barclays Capital Inc. | $11K | 9.17% |
| J.P. Morgan Securities LLC | $8K | 6.64% |
| Macquarie Capital (USA) Inc. | $7K | 6.11% |
| Liquidnet, Inc. | $6K | 5.17% |
Victory RS Large Cap Alpha Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RCEYX | Class Y | 0.68% | none |
| GPAFX | Class A | 0.89% | 5.75% |
| RCOCX | Class C | 1.69% | 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.