ULTIX Performance — Victory Tax Exempt Long-Term Fund, Institutional Shares
Data updated: 2026-07-27
ULTIX returned +2.15% year to date and +8.25% over one year to May 2026. Annualised returns are +4.65% over 3 years and +0.72% over 5 years. The fund beat its Long-Term Municipal Bond category average: $100 invested three years ago grew to $115, against $112 for the category, and to $108 over one year, against $107. Volatility over the past three years was 7.41% a year. In the 12 months to May 2026 the fund lost a net $67.8M, and assets reached $1.59B.
ULTIX Growth of $100
What $100 invested in Victory Tax Exempt Long-Term 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 | ULTIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $108 | $107 |
| 3 years (Jun 2023 – May 2026) | $115 | $112 |
| 5 years (Jun 2021 – May 2026) | $104 | $103 |
| Since data start (Apr 2020 – May 2026) | $111 | $111 |
ULTIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.15% |
| 1 year | +8.25% |
| 3 years (annualised) | +4.65% |
| 5 years (annualised) | +0.72% |
ULTIX Annual Returns
Calendar-year total returns of Victory Tax Exempt Long-Term Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.15% |
| 2025 | +3.39% |
| 2024 | +2.90% |
| 2023 | +7.19% |
| 2022 | −12.35% |
| 2021 | +3.64% |
| 2020 (Apr–Dec) | +4.61% |
ULTIX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | +1.5% | −2.5% | +1.8% | +0.5% | — | — | — | — | — | — | — |
| 2025 | +0.6% | +1.1% | −2.1% | −1.2% | −0.9% | +0.5% | −0.8% | +0.7% | +3.3% | +2.2% | +0.1% | −0.1% |
| 2024 | −0.8% | +0.5% | +0.5% | −1.4% | +0.1% | +2.5% | +1.1% | +0.7% | +1.4% | −1.7% | +2.5% | −2.4% |
| 2023 | +3.6% | −2.9% | +2.1% | −0.4% | −0.7% | +1.2% | +0.5% | −2.0% | −3.6% | −1.5% | +8.4% | +2.9% |
| 2022 | −2.9% | −0.3% | −3.5% | −3.0% | +0.4% | −2.8% | +2.9% | −2.5% | −5.2% | −1.8% | +5.7% | +0.2% |
| 2021 | +1.1% | −1.7% | +0.8% | +1.3% | +0.8% | +0.5% | +1.1% | −0.5% | −0.8% | −0.4% | +1.4% | +0.2% |
| 2020 | — | — | — | 0.0% | 0.0% | 0.0% | +2.2% | −0.4% | +0.1% | −0.3% | +2.0% | +0.9% |
ULTIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 7.41%
- 3-year Sharpe ratio: 0.02 (vs 4.5% risk-free rate)
- Best month: +8.44% (Nov 2023)
- Worst month: −3.63% (Sep 2023)
ULTIX Fund Flows
Monthly money in and out of Victory Tax Exempt Long-Term Fund, from SEC Form N-PORT.
- 12-month net flow: −$67.8M
- 12-month gross sales (incl. reinvestments): $135.1M
- Sales ÷ redemptions: 0.67×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $9.9M | $16.3M | −$6.4M |
| Apr 2026 | $22.5M | $20.1M | $2.4M |
| Mar 2026 | $12.1M | $14.9M | −$2.8M |
| Feb 2026 | $10.7M | $12.9M | −$2.2M |
| Jan 2026 | $10.5M | $14.1M | −$3.5M |
| Dec 2025 | $17.0M | $27.6M | −$10.6M |
| Nov 2025 | $8.4M | $15.2M | −$6.8M |
| Oct 2025 | $7.3M | $13.5M | −$6.2M |
| Sep 2025 | $9.0M | $15.9M | −$6.9M |
| Aug 2025 | $9.3M | $15.5M | −$6.3M |
| Jul 2025 | $10.3M | $23.0M | −$12.8M |
| Jun 2025 | $8.1M | $13.8M | −$5.8M |
ULTIX Assets Under Management
Net assets of Victory Tax Exempt Long-Term Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.59B |
| 2026-02-28 | $1.62B |
| 2025-11-30 | $1.61B |
| 2025-08-31 | $1.56B |
| 2025-05-31 | $1.59B |
| 2025-02-28 | $1.69B |
| 2024-11-30 | $1.74B |
| 2024-08-31 | $1.73B |
| 2024-05-31 | $1.72B |
| 2024-02-29 | $1.78B |
| 2023-11-30 | $1.78B |
| 2023-08-31 | $1.80B |
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.