RSIAX Fees and Costs — Victory Strategic Income Fund, Class A
Data updated: 2022-05-25
The net expense ratio is 0.96%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.23% other expenses, less a 0.13% fee waiver. This share class carries a maximum front-end sales load of 2.25%. In fiscal 2021 the fund paid $12K in broker commissions, 0.0139% of average net assets, and portfolio turnover was 194%.
RSIAX Fees and Expenses
Annual operating expenses and sales charges of RSIAX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.23% |
| Gross expense ratio | 1.09% |
| Fee waiver | −0.13% |
| Net expense ratio | 0.96% |
| 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 |
RSIAX Costs Over Time
On $10,000 invested in RSIAX, assuming 5% a year before costs, total costs come to $883 over 5 years, cutting the return by 1.49% 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 0.96%) | $99 | $308 | $533 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $11 | $51 | $117 |
| Total costs | $336 | $588 | $883 |
| Value after costs | $10,164 | $10,988 | $11,880 |
| Impact on return, per year | 3.36% | 1.81% | 1.49% |
RSIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0139%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $383.3M
- Portfolio turnover (prospectus): 194%
- Securities on loan, average value: $8.6M
- Net income from securities lending: $23K (0.026% of average net assets)
RSIAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $12K | 100.00% |
RSIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HAMBRECTH & QUIST | $55.4M | 18.24% |
| GOLDMAN SACHS & CO. LLC | $50.7M | 16.70% |
| CITIGROUP GLOBAL MARKETS INC. | $46.9M | 15.45% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $32.6M | 10.73% |
| MARKETAXESS CORPORATION | $23.6M | 7.77% |
| Salomon Smith Barney | $21.2M | 6.97% |
| BARCLAYS CAPITAL INC. | $18.4M | 6.07% |
| RBC CAPITAL MARKETS | $18.4M | 6.06% |
| WELLS FARGO SECURITIES, LLC | $18.3M | 6.02% |
| DEUTSCHE BANK SECURITIES INC. | $18.2M | 5.99% |
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.