PMARX Fees and Costs — Victory Pioneer Equity Premium Income Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 1.20%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.37% other expenses, less a 0.12% fee waiver. This share class carries a maximum front-end sales load of 2.25%. In fiscal 2025 the fund paid $52K in broker commissions, 0.0390% of average net assets, and portfolio turnover was 65%.
PMARX Fees and Expenses
Annual operating expenses and sales charges of PMARX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.32% |
| Fee waiver | −0.12% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 2.25% |
| 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 |
PMARX Costs Over Time
On $10,000 invested in PMARX, assuming 5% a year before costs, total costs come to $1,041 over 5 years, cutting the return by 1.77% 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 | $225 | $225 | $225 |
| Fund expenses (net expense ratio 1.20%) | $123 | $383 | $663 |
| Trading costs (broker commissions) | $4 | $12 | $22 |
| Lost growth on money paid in costs | $11 | $55 | $131 |
| Total costs | $363 | $676 | $1,041 |
| Value after costs | $10,137 | $10,900 | $11,722 |
| Impact on return, per year | 3.63% | 2.08% | 1.77% |
PMARX 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): 0.0390%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $76.7M
- Portfolio turnover (prospectus): 65%
- Securities lending: none during the year
PMARX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $18K | 35.26% |
| CLSA Americas, LLC | $13K | 24.28% |
| J.P. Morgan Securities LLC | $6K | 11.24% |
| SG AMERICAS SECURITIES LLC | $5K | 8.90% |
| PIPER SANDLER & CO. | $4K | 7.63% |
| CITIGROUP GLOBAL MARKETS INC. | $3K | 6.06% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $2K | 4.70% |
| WELLS FARGO SECURITIES, LLC | $510 | 0.98% |
| JEFFERIES LLC | $334 | 0.64% |
| RBC CAPITAL MARKETS, LLC | $161 | 0.31% |
PMARX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $10.8M | 15.44% |
| BNP PARIBAS SECURITIES CORP. | $10.1M | 14.51% |
| WELLS FARGO SECURITIES, LLC | $9.2M | 13.16% |
| CitiGroup Global Markets Inc. | $7.3M | 10.51% |
| TD SECURITIES (USA) LLC | $6.9M | 9.86% |
| Mizuho Securities USA LLC | $6.6M | 9.45% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $5.2M | 7.38% |
| HSBC SECURITIES (USA), INC. | $5.0M | 7.15% |
| RBC CAPITAL MARKETS, LLC | $4.9M | 7.07% |
| GOLDMAN SACHS & CO. LLC | $3.8M | 5.47% |
Victory Pioneer Equity Premium 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 |
|---|---|---|---|
| FLEKX | Class R6 | 0.90% | none |
| PMYRX | Class Y | 0.90% | none |
| PMARX | Class A | 1.20% | 2.25% |
| PRRCX | Class C | 1.98% | 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.