PCEQX Fees and Costs — Victory Pioneer Equity Income Fund, Class C
Data updated: 2026-09-28
The net expense ratio is 1.76%: a 0.60% management fee, a 1.00% 12b-1 fee plus 0.18% other expenses, less a 0.02% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $430K in broker commissions, 0.0470% of average net assets, and portfolio turnover was 49%.
PCEQX Fees and Expenses
Annual operating expenses and sales charges of PCEQX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.78% |
| Fee waiver | −0.02% |
| Net expense ratio | 1.76% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PCEQX Costs Over Time
On $10,000 invested in PCEQX, assuming 5% a year before costs, total costs come to $1,112 over 5 years, cutting the return by 1.90% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.76%) | $185 | $572 | $983 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $29 | $103 |
| Total costs | $293 | $616 | $1,112 |
| Value after costs | $10,207 | $10,960 | $11,651 |
| Impact on return, per year | 2.93% | 1.90% | 1.90% |
PCEQX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0470%
- Total broker commissions: $430K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
PCEQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $85K | 27.61% |
| PIPER SANDLER & CO. | $53K | 17.40% |
| PERSHING LLC | $35K | 11.33% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $32K | 10.52% |
| EVERCORE GROUP L.L.C. | $20K | 6.56% |
| GOLDMAN SACHS & CO. LLC | $20K | 6.44% |
| Jefferies LLC | $19K | 6.13% |
| LEVEL MARKETS, LLC | $16K | 5.09% |
| WELLS FARGO SECURITIES, LLC | $14K | 4.67% |
| SG AMERICAS SECURITIES LLC | $13K | 4.24% |
Victory Pioneer Equity Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PEQKX | Class R6 | 0.68% | none |
| PYEQX | Class Y | 0.80% | none |
| PEQIX | Class A | 1.00% | 5.75% |
| PQIRX | Class R | 1.42% | none |
| PCEQX | Class C | 1.76% | 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.