MMEAX Fees and Costs — Victory Integrity Discovery Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 1.59%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.34% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $200K in broker commissions, 0.2896% of average net assets, and portfolio turnover was 33%.
MMEAX Fees and Expenses
Annual operating expenses and sales charges of MMEAX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.59% |
| Fee waiver | — |
| Net expense ratio | 1.59% |
| 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 |
MMEAX Costs Over Time
On $10,000 invested in MMEAX, assuming 5% a year before costs, total costs come to $1,823 over 5 years, cutting the return by 3.19% 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 1.59%) | $157 | $486 | $836 |
| Trading costs (broker commissions) | $29 | $89 | $152 |
| Lost growth on money paid in costs | $29 | $119 | $260 |
| Total costs | $790 | $1,269 | $1,823 |
| Value after costs | $9,710 | $10,307 | $10,940 |
| Impact on return, per year | 7.90% | 3.99% | 3.19% |
MMEAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.2896%
- Total broker commissions: $200K
- Bought from dealers (principal trades, not a cost): $2.9M
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $2.3M
- Net income from securities lending: $5K (0.008% of average net assets)
MMEAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company, LLC | $27K | 17.65% |
| Citigroup Global Markets Inc. | $27K | 17.40% |
| Strategas Securities, LLC | $24K | 15.24% |
| Barclays Capital Inc. | $20K | 12.69% |
| Macquarie Capital (USA) Inc. | $14K | 9.18% |
| Goldman Sachs & Co. LLC | $13K | 8.63% |
| Robert W. Baird & Co. Incorporated | $9K | 6.00% |
| Keefe, Bruyette & Woods, Inc. | $9K | 5.67% |
| Stephens Inc. | $6K | 4.08% |
| KeyBanc Capital Markets Inc. | $5K | 3.45% |
MMEAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Mesirow Financial, Inc. | $1.5M | 49.58% |
| Goldman Sachs & Co. LLC | $852K | 29.08% |
| Pershing LLC | $457K | 15.61% |
| Keefe, Bruyette & Woods, Inc. | $109K | 3.72% |
| Strategas Securities, LLC | $59K | 2.01% |
Victory Integrity Discovery Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MMEYX | Class Y | 1.41% | none |
| MMMMX | Member Class | 1.50% | none |
| MMEAX | Class A | 1.59% | 5.75% |
| MMECX | Class C | 2.45% | 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.