INVYX Fees and Costs — Victory Pioneer International Equity Fund, Class Y
Data updated: 2026-07-27
The net expense ratio is 0.74%: a 0.65% management fee plus 0.23% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.7M in broker commissions, 0.1795% of average net assets, and portfolio turnover was 58%.
INVYX Fees and Expenses
Annual operating expenses and sales charges of INVYX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.88% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.74% |
| 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 |
INVYX Costs Over Time
On $10,000 invested in INVYX, assuming 5% a year before costs, total costs come to $576 over 5 years, cutting the return by 0.97% 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 0.74%) | $78 | $243 | $421 |
| Trading costs (broker commissions) | $19 | $59 | $102 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $316 | $576 |
| Value after costs | $10,403 | $11,260 | $12,187 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
INVYX 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): 0.1795%
- Total broker commissions: $1.7M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
INVYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| DAIWA CAPITAL MARKETS AMERICA INC. | $232K | 18.16% |
| MACQUARIE CAPITAL (USA), INC. | $216K | 16.85% |
| TD SECURITIES (USA) LLC | $165K | 12.88% |
| BARCLAYS CAPITAL, INC. | $134K | 10.50% |
| BNP PARIBAS SECURITIES CORP. | $119K | 9.27% |
| CitiGroup Global Markets Inc. | $105K | 8.17% |
| Mizuho Securities USA LLC | $93K | 7.23% |
| Berenberg Capital Markets LLC | $92K | 7.21% |
| RBC CAPITAL MARKETS, LLC | $64K | 5.03% |
| INSTINET, LLC | $60K | 4.70% |
Victory Pioneer International Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PIEKX | Class R6 | 0.73% | none |
| INVYX | Class Y | 0.74% | none |
| PIIFX | Class A | 1.12% | 5.75% |
| PCITX | Class C | 1.83% | 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.