RETCX Performance — Victory Tax-Exempt Fund, Class C
Data updated: 2025-11-25
RETCX returned −2.67% over one year to Sep 2025. Annualised returns are +3.28% over 3 years and +0.04% over 5 years. The fund trailed its Long-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $114 for the category, and to $97 over one year, against $100. Volatility over the past three years was 8.05% a year. In the 12 months to Sep 2025 the fund lost a net $5.8M, and assets reached $32.59M.
RETCX Growth of $100
What $100 invested in Victory Tax-Exempt Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | RETCX | Category average |
|---|---|---|
| 1 year (Oct 2024 – Sep 2025) | $97 | $100 |
| 3 years (Oct 2022 – Sep 2025) | $110 | $114 |
| 5 years (Oct 2020 – Sep 2025) | $100 | $103 |
| Since data start (Jul 2019 – Sep 2025) | $104 | $108 |
RETCX Trailing Returns
Total returns to Sep 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | −2.67% |
| 3 years (annualised) | +3.28% |
| 5 years (annualised) | +0.04% |
RETCX Annual Returns
Calendar-year total returns of Victory Tax-Exempt Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 (Jan–Sep) | −0.87% |
| 2024 | +2.08% |
| 2023 | +6.03% |
| 2022 | −12.41% |
| 2021 | +3.13% |
| 2020 | +4.57% |
| 2019 (Jul–Dec) | +2.72% |
RETCX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +0.1% | +0.6% | −2.1% | −1.2% | −1.1% | +0.3% | −1.4% | +0.4% | +3.6% | — | — | — |
| 2024 | −0.8% | +0.2% | +0.4% | −1.5% | +0.4% | +2.1% | +1.3% | +0.6% | +1.3% | −2.0% | +2.6% | −2.4% |
| 2023 | +3.4% | −3.0% | +2.0% | −0.4% | −0.6% | +1.2% | +0.5% | −2.0% | −3.3% | −1.9% | +7.8% | +2.7% |
| 2022 | −2.6% | −0.7% | −3.3% | −3.1% | +0.2% | −2.6% | +2.6% | −2.0% | −4.1% | −1.9% | +5.0% | −0.3% |
| 2021 | +1.7% | −2.0% | +1.0% | +1.0% | +0.5% | +0.8% | +0.8% | −0.5% | −0.6% | −0.5% | +0.8% | +0.1% |
| 2020 | +2.5% | +2.0% | −7.6% | −2.9% | +3.2% | +2.8% | +2.7% | −0.7% | −0.3% | −0.4% | +2.3% | +1.5% |
| 2019 | — | — | — | — | — | — | +0.7% | +2.1% | −0.7% | +0.1% | +0.3% | +0.1% |
RETCX Risk
Risk measures from monthly returns over Oct 2022 – Sep 2025.
- 3-year volatility (annualised): 8.05%
- 3-year Sharpe ratio: -0.15 (vs 4.5% risk-free rate)
- Best month: +7.79% (Nov 2023)
- Worst month: −3.27% (Sep 2023)
RETCX Fund Flows
Monthly money in and out of Victory Tax-Exempt Fund, from SEC Form N-PORT.
- 12-month net flow: −$5.8M
- 12-month gross sales (incl. reinvestments): $3.6M
- Sales ÷ redemptions: 0.38×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Sep 2025 | $322K | $530K | −$208K |
| Aug 2025 | $273K | $731K | −$459K |
| Jul 2025 | $269K | $447K | −$178K |
| Jun 2025 | $227K | $327K | −$100K |
| May 2025 | $225K | $364K | −$139K |
| Apr 2025 | $238K | $949K | −$710K |
| Mar 2025 | $520K | $355K | $165K |
| Feb 2025 | $296K | $853K | −$557K |
| Jan 2025 | $558K | $883K | −$326K |
| Dec 2024 | $158K | $1.3M | −$1.1M |
| Nov 2024 | $288K | $2.0M | −$1.7M |
| Oct 2024 | $186K | $626K | −$441K |
RETCX Assets Under Management
Net assets of Victory Tax-Exempt Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-09-30 | $32.59M |
| 2025-06-30 | $32.90M |
| 2025-03-31 | $34.81M |
| 2024-12-31 | $36.30M |
| 2024-09-30 | $40.59M |
| 2024-06-30 | $34.14M |
| 2024-03-31 | $33.31M |
| 2023-12-31 | $36.37M |
| 2023-09-30 | $36.01M |
| 2023-06-30 | $38.21M |
| 2023-03-31 | $40.45M |
| 2022-12-31 | $36.70M |
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.