ULVM Fees and Costs — VictoryShares US Value Momentum ETF
Data updated: 2026-09-11
The net expense ratio is 0.20%: a 0.15% management fee plus 0.10% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $119K in broker commissions, 0.0564% of average net assets, and portfolio turnover was 95%.
ULVM Fees and Expenses
Annual operating expenses and sales charges of ULVM. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | — |
| Other expenses | 0.10% |
| Gross expense ratio | 0.25% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.20% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ULVM Costs Over Time
On $10,000 invested in ULVM, assuming 5% a year before costs, total costs come to $163 over 5 years, cutting the return by 0.27% 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 0.20%) | $21 | $66 | $115 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $89 | $163 |
| Value after costs | $10,473 | $11,487 | $12,600 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
ULVM 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): 0.0564%
- Total broker commissions: $119K
- Bought from dealers (principal trades, not a cost): $56.6M
- Portfolio turnover (prospectus): 95%
- Securities on loan, average value: $71K
- Net income from securities lending: $955 (0.000% of average net assets)
ULVM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $56K | 46.62% |
| J.P. Morgan Securities LLC | $41K | 34.46% |
| Susquehanna Securities | $22K | 18.05% |
| Citadel Securities LLC | $281 | 0.24% |
| Amerivet Securities, Inc. | $214 | 0.18% |
| RBC Capital Markets, LLC | $172 | 0.14% |
| Macquarie Capital (USA) Inc. | $119 | 0.10% |
| JonesTrading Institutional Services LLC | $96 | 0.08% |
| Goldman Sachs & Co. LLC | $86 | 0.07% |
| UBS Securities LLC | $60 | 0.05% |
ULVM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $32.8M | 57.84% |
| Jane Street Capital, LLC | $18.7M | 33.00% |
| Virtu Americas LLC | $5.2M | 9.15% |
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.