RHMMX Fees and Costs — Victory High Income Municipal Bond Fund, Member Class
Data updated: 2025-11-25
The net expense ratio is 0.65%: a 0.50% management fee plus 0.86% other expenses, less a 0.71% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $2K in broker commissions, 0.0050% of average net assets, and portfolio turnover was 8%.
RHMMX Fees and Expenses
Annual operating expenses and sales charges of RHMMX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.86% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.71% |
| Net expense ratio | 0.65% |
| 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 |
RHMMX Costs Over Time
On $10,000 invested in RHMMX, assuming 5% a year before costs, total costs come to $413 over 5 years, cutting the return by 0.69% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $226 | $413 |
| Value after costs | $10,431 | $11,350 | $12,350 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
RHMMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0050%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $21.7M
- Portfolio turnover (prospectus): 8%
- Securities lending: none during the year
RHMMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital LLC | $900 | 50.00% |
| Jane Street Capital, LLC | $900 | 50.00% |
RHMMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $7.7M | 35.33% |
| SunTrust Robinson Humphrey | $3.7M | 17.02% |
| Goldman Sachs & Co. LLC | $3.6M | 16.56% |
| Jefferies LLC | $2.2M | 10.12% |
| BofA Securities, Inc. | $1.8M | 8.39% |
| Stifel, Nicolaus & Company, Incorporated | $1.0M | 4.74% |
| Barclays Capital Inc. | $600K | 2.76% |
| Oppenheimer & Co. Inc. | $505K | 2.32% |
| PNC Bank, National Association | $400K | 1.84% |
| Deutsche Bank Securities Inc. | $198K | 0.91% |
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.