PIOTX Fees and Costs — Victory Pioneer Core Equity Fund, Class A
Data updated: 2026-08-25
The net expense ratio is 0.86%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.12% other expenses, less a 0.01% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $741K in broker commissions, 0.0386% of average net assets, and portfolio turnover was 64%.
PIOTX Fees and Expenses
Annual operating expenses and sales charges of PIOTX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.87% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.86% |
| 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 |
PIOTX Costs Over Time
On $10,000 invested in PIOTX, assuming 5% a year before costs, total costs come to $1,265 over 5 years, cutting the return by 2.17% 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 0.86%) | $85 | $266 | $461 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $29 | $104 | $207 |
| Total costs | $693 | $957 | $1,265 |
| Value after costs | $9,807 | $10,619 | $11,498 |
| Impact on return, per year | 6.93% | 2.98% | 2.17% |
PIOTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0386%
- Total broker commissions: $741K
- Bought from dealers (principal trades, not a cost): $19.0M
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
PIOTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER SANDLER & CO. | $114K | 20.03% |
| INSTINET, LLC | $113K | 19.87% |
| GOLDMAN SACHS & CO. LLC | $67K | 11.73% |
| EVERCORE GROUP L.L.C. | $53K | 9.40% |
| TD SECURITIES (USA) LLC | $45K | 7.91% |
| LEVEL MARKETS, LLC | $42K | 7.46% |
| WELLS FARGO SECURITIES, LLC | $37K | 6.58% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $35K | 6.09% |
| BARCLAYS CAPITAL, INC. | $32K | 5.70% |
| CitiGroup Global Markets Inc. | $30K | 5.23% |
PIOTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $19.0M | 100.00% |
Victory Pioneer Core Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PCEKX | Class R6 | 0.57% | none |
| PVFYX | Class Y | 0.67% | none |
| PIOTX | Class A | 0.86% | 5.75% |
| PCOTX | Class C | 1.65% | 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.