PYODX Fees and Costs — Victory Pioneer Fund, Class Y
Data updated: 2026-08-25
The net expense ratio is 0.64%: a 0.61% management fee plus 0.18% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3.7M in broker commissions, 0.0398% of average net assets, and portfolio turnover was 88%.
PYODX Fees and Expenses
Annual operating expenses and sales charges of PYODX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.61% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.15% |
| Net expense ratio | 0.64% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
PYODX Costs Over Time
On $10,000 invested in PYODX, assuming 5% a year before costs, total costs come to $428 over 5 years, cutting the return by 0.71% 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 |
| Fund expenses (net expense ratio 0.64%) | $67 | $210 | $366 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $71 | $234 | $428 |
| Value after costs | $10,429 | $11,342 | $12,335 |
| Impact on return, per year | 0.71% | 0.71% | 0.71% |
PYODX 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): 0.0398%
- Total broker commissions: $3.7M
- Bought from dealers (principal trades, not a cost): $119K
- Portfolio turnover (prospectus): 88%
- Securities lending: none during the year
PYODX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $654K | 24.85% |
| PIPER SANDLER & CO. | $553K | 21.01% |
| PERSHING LLC | $273K | 10.36% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $244K | 9.26% |
| STATE STREET GLOBAL MARKETS, LLC | $224K | 8.52% |
| GOLDMAN SACHS & CO. LLC | $187K | 7.10% |
| KEEFE, BRUYETTE & WOODS, INC. | $145K | 5.52% |
| SG AMERICAS SECURITIES LLC | $141K | 5.36% |
| LEVEL MARKETS, LLC | $113K | 4.29% |
| Strategas Securities, LLC | $98K | 3.72% |
PYODX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $104K | 87.24% |
| MORGAN STANLEY & CO. LLC | $15K | 12.76% |
Victory Pioneer Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PIOKX | Class R6 | 0.64% | none |
| PYODX | Class Y | 0.64% | none |
| PIODX | Class A | 0.92% | 5.75% |
| PIORX | Class R | 1.37% | none |
| PCODX | Class C | 1.72% | 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.