MAEMX — Victory Trivalent Emerging Markets Small-Cap Fund
Data updated: 2021-05-26
MAEMX — Victory Trivalent Emerging Markets Small-Cap Fund. China Small Cap Blend / Core Equity · $11.10M AUM. Holdings, fees, performance and SEC filings.
MAEMX Fund Overview
MAEMX — Victory Trivalent Emerging Markets Small-Cap Fund is a US mutual fund managed by Victory Portfolios, categorised as China Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Victory Portfolios
- Category: China Small Cap Blend / Core Equity
- Assets under management: $11.10M
- 1-year return: 81.7%
- Ticker: MAEMX
- SEC CIK: 0000802716
- SEC series ID: S000046394
- Share class ID: C000144982
MAEMX Investment Objective and Strategy
Victory Trivalent Emerging Markets Small-Cap Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Victory Portfolios.
Investment objective
The Fund seeks to provide long-term growth of capital.
Principal investment strategy
The Adviser pursues the Fund's investment objective by investing primarily in equity securities (i.e., common stocks, depositary receipts, preferred stocks, convertible securities, rights and warrants) of companies in emerging markets countries, which are developing countries in the early stages of adopting capitalism. Under normal circumstances, at least 80% of the Fund's assets will be in securities of small-capitalization companies that are tied economically to emerging markets countries. In selecting emerging market small-capitalization investments for the Fund, the Adviser employs a bottom-up investment approach that emphasizes individual stock selection. The Adviser's investment process uses a combination of quantitative and traditional qualitative, fundamental analysis to identify companies exhibiting improving business momentum and attractive valuations.
The stock selection process is designed to produce a diversified portfolio that, relative to the MSCI Emerging Markets Small Cap Index and the S&P Emerging Plus SmallCap Index, tends to have a below-average price-to-earnings ratio and an above-average earnings growth trend. However, the Fund is not designed to replicate the performance of either of those indexes. The Adviser considers emerging markets countries to be the countries represented in the MSCI Emerging Markets Small Cap Index and the S&P Emerging Plus SmallCap Index. The Adviser considers any company with a market capitalization that is within the smallest 15% (based on market capitalization) of companies from each emerging markets country to be a small-capitalization company. The MSCI Emerging Markets Small Cap Index is designed to measure equity market performance of 24 emerging markets and targets approximately 14% of each market's free-float adjusted market capitalization.
The S&P Emerging Plus SmallCap Index consists of the bottom 15% (based on market capitalization) of companies from each country represented in the S&P Emerging BMI plus Korea. The S&P Emerging BMI includes companies domiciled in over 20 emerging markets countries with float-adjusted market capitalizations of at least US$100 million and annual trading liquidity of at least US$50 million. As of the date of this prospectus, emerging market countries include, without limitation, portions of Asia, Latin America, Eastern Europe, and the Middle East/Africa, such as Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, South Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey, and United Arab Emirates.
The Adviser regularly reviews the Funds investments and will sell a security if the Adviser believes there has been a deterioration in the rank of the security in accordance with the Advisers process, the securitys valuation has become unattractive relative to other stocks in the universe or other available investments are considered to be more attractive. As a result of its investment strategy, the Fund may experience annual portfolio turnover in excess of 100%.
MAEMX Holdings
Top 10 holdings of Victory Trivalent Emerging Markets Small-Cap Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Construtora Tenda S/A | 1.78% |
| Maeil Dairies Co., Ltd. | 1.38% |
| Eneva S.a. | 1.36% |
| iShares MSCI Emerging Markets Small-Cap ETF | 1.28% |
| Sinbon Electronics Company Ltd. | 1.24% |
| Tripod Technology Corporation | 1.19% |
| SFA Engineering Corporation | 1.18% |
| Wns (holdings) Limited | 1.07% |
| China Sce Group Holdings Limited | 1.04% |
| Soulbrain Co.,Ltd. | 1.03% |
MAEMX Portfolio Allocation
Asset-class allocation of Victory Trivalent Emerging Markets Small-Cap Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 89.4% |
| Other | 9.6% |
| Cash & Equivalents | 0.8% |
MAEMX Performance
Total returns for MAEMX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 81.7% |
MAEMX Risk Information
Risk metrics for MAEMX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.7%
MAEMX Costs and Fees
MAEMX costs about $174 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.74%
- Gross expense ratio: 3.19%
- Portfolio turnover: 64%
- Brokerage commissions: 17.91 bps of average net assets (SEC N-CEN)
MAEMX Cashflows
Over the 12 months to 2021-03, Victory Trivalent Emerging Markets Small-Cap Fund had net inflows of $2.24M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-03 | $339.59K |
| 2021-02 | $213.37K |
| 2021-01 | $498.62K |
| 2020-12 | $164.46K |
| 2020-11 | $278.86K |
| 2020-10 | $53.33K |
MAEMX Debt Constituents
No individual debt constituents are reported in Victory Trivalent Emerging Markets Small-Cap Fund's latest SEC N-PORT filing.
MAEMX Prospectus and SEC Filings
Official Victory Trivalent Emerging Markets Small-Cap Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2019-11-12
- Prospectus (485BPOS) — filed 2018-11-08
- Prospectus supplement (497) — filed 2020-11-06
- Portfolio holdings (N-PORT) — filed 2021-05-26
- Portfolio holdings (N-PORT) — filed 2021-02-26
- Portfolio holdings (N-PORT) — filed 2020-11-20
- Annual census (N-CEN) — filed 2020-09-11
- Annual census (N-CEN) — filed 2019-09-12
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.