MMERX — Victory Integrity Discovery Fund
Data updated: 2026-09-11
MMERX — Victory Integrity Discovery Fund. United States Small Cap Blend / Core Equity · $92.06M AUM. Holdings, fees, performance and SEC filings.
MMERX Fund Overview
MMERX — Victory Integrity Discovery Fund is a US mutual fund managed by Victory Portfolios, categorised as United States 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: United States Small Cap Blend / Core Equity
- Assets under management: $92.06M
- 1-year return: 15.6%
- Ticker: MMERX
- SEC CIK: 0000802716
- SEC series ID: S000046401
- Share class ID: C000145006
MMERX Investment Objective and Strategy
Victory Integrity Discovery 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 capital appreciation.
Principal investment strategy
The Adviser pursues the Fund's investment objective by investing, under normal circumstances, at least 80% of the Fund's assets in equity securities (i.e., common stocks, preferred stocks, convertible securities and rights and warrants) of micro-capitalization companies. Micro-capitalization companies are those companies with market capitalizations lower than the largest company in the bottom 75% (based on index weightings) of the Russell 2000 Index, which as of September 30, 2018 included companies with market capitalizations below $3.4 billion. The Fund focuses on undiscovered, small-sized companies in its attempt to provide investors with potentially higher returns than a fund that invests primarily in larger, more established companies. Since micro-capitalization companies are generally not as well known to investors and have less of an investor following than larger companies, the Adviser believes these inefficiencies in the marketplace may provide higher returns.
When selecting securities to invest in, the Adviser seeks out companies that appear to be undervalued according to certain financial measurements of their intrinsic net worth or business prospects. The Adviser chooses the Fund's investments by employing a value-oriented approach that focuses on securities that offer value with improving investor sentiment. The Adviser finds these value-oriented investments by, among other things: (1) rigorously analyzing the company's financial characteristics and assessing the quality of the company's management; (2) considering comparative price-to-book, price-to-sales and price-to-cash flow ratios; and (3) analyzing cash flows to identify stocks with the most attractive potential returns. Although the Fund will be invested primarily in domestic securities, up to 25% of the Fund's assets may be invested in foreign securities, including depositary receipts such as American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs).
From time to time, due to changes in sector weights of the benchmark index, the Fund's investments can be more focused in companies in one or more economic sectors, such as the financials sector. The Adviser regularly reviews the Fund's investments and will sell securities when the Adviser believes the securities are no longer attractive because (1) a deterioration in rank of the security in accordance with the Advisers process, (2) of price appreciation, (3) of a change in the fundamental outlook of the company or (4) other investments available are considered to be more attractive.
MMERX Holdings
Top 10 holdings of Victory Integrity Discovery Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Lindblad Expeditions Holdings, Inc. | 1.28% |
| Vishay Precision Group, Inc. | 1.28% |
| MSILF Government Portfolio | 1.26% |
| Hsbc US Government Money Market Fund | 1.26% |
| Goldman Sachs Financial Square Government Fund | 1.26% |
| Invesco Government & Agency Portfolio | 1.26% |
| Horizon Bancorp, Inc. | 1.09% |
| Interface, Inc. | 1.08% |
| Peoples Bancorp Inc. | 1.07% |
| Healthstream, Inc. | 1.07% |
MMERX Portfolio Allocation
Asset-class allocation of Victory Integrity Discovery Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.5% |
| Cash & Equivalents | 5.0% |
MMERX Performance
Total returns for MMERX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 15.6% |
| 3 years (annualised) | 2.1% |
MMERX Risk Information
Risk metrics for MMERX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 24.5%
MMERX Costs and Fees
MMERX costs about $208 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.08%
- Gross expense ratio: 3.97%
- Portfolio turnover: 33%
- Brokerage commissions: 28.96 bps of average net assets (SEC N-CEN)
MMERX Cashflows
Over the 12 months to 2026-06, Victory Integrity Discovery Fund had net inflows of $8.92M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $3.37M |
| 2026-05 | $378.16K |
| 2026-04 | $1.97M |
| 2026-03 | −$288.28K |
| 2026-02 | $134.26K |
| 2026-01 | −$413.45K |
MMERX Debt Constituents
No individual debt constituents are reported in Victory Integrity Discovery Fund's latest SEC N-PORT filing.
MMERX Prospectus and SEC Filings
Official Victory Integrity Discovery Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-24
- Prospectus (485BPOS) — filed 2024-10-24
- Prospectus (485BPOS) — filed 2023-10-25
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-09-11
- Annual census (N-CEN) — filed 2025-09-11
Related Funds
Other United States Small Cap Blend / Core Equity funds tracked on ABC INVEST:
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.