SBFMX Fees and Costs — Victory Investment Grade Convertible Fund, Member Class
Data updated: 2026-09-11
The net expense ratio is 1.10%: a 0.75% management fee plus 1.10% other expenses, less a 0.75% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 24%.
SBFMX Fees and Expenses
Annual operating expenses and sales charges of SBFMX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.10% |
| Gross expense ratio | 1.85% |
| Fee waiver | −0.75% |
| Net expense ratio | 1.10% |
| 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 |
SBFMX Costs Over Time
On $10,000 invested in SBFMX, assuming 5% a year before costs, total costs come to $687 over 5 years, cutting the return by 1.15% 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 1.10%) | $116 | $360 | $624 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $378 | $687 |
| Value after costs | $10,384 | $11,198 | $12,076 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
SBFMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $150.3M
- Portfolio turnover (prospectus): 24%
- Securities on loan, average value: $3.9M
- Net income from securities lending: $11K (0.004% of average net assets)
SBFMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $46.9M | 34.39% |
| Barclays Capital Inc. | $16.5M | 12.07% |
| Macquarie Capital (USA) Inc. | $16.0M | 11.73% |
| Mizuho Securities USA LLC | $15.5M | 11.34% |
| Wells Fargo Securities, LLC | $10.1M | 7.38% |
| Cowen and Company, LLC | $9.0M | 6.61% |
| Morgan Stanley & Co. LLC | $7.2M | 5.25% |
| Stifel, Nicolaus & Company, Incorporated | $6.8M | 4.95% |
| Santander Holdings USA, Inc. | $5.4M | 3.94% |
| Oppenheimer & Co. Inc. | $3.2M | 2.33% |
Victory Investment Grade Convertible Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VICIX | Class I | 0.95% | none |
| SBFMX | Member Class | 1.10% | none |
| SBFCX | Class A | 1.27% | 2.25% |
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.