GROYX Fees and Costs — Victory Pioneer Select Mid Cap Growth Fund, Class Y
Data updated: 2026-07-27
The net expense ratio is 0.78%: a 0.60% management fee plus 0.21% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $761K in broker commissions, 0.0490% of average net assets, and portfolio turnover was 62%.
GROYX Fees and Expenses
Annual operating expenses and sales charges of GROYX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.81% |
| Fee waiver | −0.03% |
| 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 | No |
| Waived fees subject to recoupment | No |
GROYX Costs Over Time
On $10,000 invested in GROYX, assuming 5% a year before costs, total costs come to $520 over 5 years, cutting the return by 0.87% 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) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $13 | $48 |
| Total costs | $87 | $286 | $520 |
| Value after costs | $10,413 | $11,291 | $12,242 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
GROYX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0490%
- Total broker commissions: $761K
- Bought from dealers (principal trades, not a cost): $4.3M
- Portfolio turnover (prospectus): 62%
- Securities lending: none during the year
GROYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $127K | 24.59% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $116K | 22.51% |
| Pershing LLC | $81K | 15.73% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $42K | 8.13% |
| PIPER SANDLER & CO. | $33K | 6.38% |
| WEDBUSH SECURITIES INC. | $28K | 5.33% |
| NATIONAL FINANCIAL SERVICES LLC | $27K | 5.29% |
| GOLDMAN SACHS & CO. LLC | $25K | 4.78% |
| CANTOR FITZGERALD & CO. | $19K | 3.64% |
| TD SECURITIES (USA) LLC | $19K | 3.61% |
GROYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $2.5M | 57.91% |
| MORGAN STANLEY & CO. LLC | $987K | 22.84% |
| PIPER SANDLER & CO. | $540K | 12.51% |
| JEFFERIES LLC | $291K | 6.75% |
Victory Pioneer Select Mid Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PSMKX | Class R6 | 0.67% | none |
| GROYX | Class Y | 0.78% | none |
| PGOFX | Class A | 0.99% | 5.75% |
| GOFCX | Class C | 1.80% | 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.