MNNAX Fees and Costs — Victory Multi-Cap Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 1.24%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.24% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $246K in broker commissions, 0.0459% of average net assets, and portfolio turnover was 88%.
MNNAX Fees and Expenses
Annual operating expenses and sales charges of MNNAX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.24% |
| Fee waiver | — |
| Net expense ratio | 1.24% |
| 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 |
MNNAX Costs Over Time
On $10,000 invested in MNNAX, assuming 5% a year before costs, total costs come to $1,488 over 5 years, cutting the return by 2.57% 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 1.24%) | $123 | $382 | $660 |
| Trading costs (broker commissions) | $5 | $14 | $24 |
| Lost growth on money paid in costs | $29 | $110 | $228 |
| Total costs | $731 | $1,081 | $1,488 |
| Value after costs | $9,769 | $10,495 | $11,275 |
| Impact on return, per year | 7.31% | 3.38% | 2.57% |
MNNAX 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): 0.0459%
- Total broker commissions: $246K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 88%
- Securities on loan, average value: $140K
- Net income from securities lending: $624 (0.000% of average net assets)
MNNAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $120K | 54.68% |
| Raymond James & Associates, Inc. | $29K | 13.11% |
| Jane Street Capital, LLC | $13K | 5.90% |
| Robert W. Baird & Co. Incorporated | $12K | 5.25% |
| BofA Securities, Inc. | $11K | 4.96% |
| Virtu Americas LLC | $10K | 4.55% |
| J.P. Morgan Securities LLC | $7K | 3.15% |
| Academy Securities Inc. | $7K | 3.15% |
| Barclays Capital Inc. | $6K | 2.73% |
| Liquidnet, Inc. | $6K | 2.52% |
Victory Multi-Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MNNYX | Class Y | 0.95% | none |
| MNNAX | Class A | 1.24% | 5.75% |
| MNNCX | Class C | 2.16% | 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.