URFRX Fees and Costs — Victory Target Retirement 2040 Fund
Data updated: 2026-09-29
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $166K in broker commissions, 0.0096% of average net assets, and portfolio turnover was 17%.
URFRX Fees and Expenses
Annual operating expenses and sales charges of URFRX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 | No |
| Waived fees subject to recoupment | No |
URFRX Costs Over Time
On $10,000 invested in URFRX, assuming 5% a year before costs, total costs come to $353 over 5 years, cutting the return by 0.59% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $353 |
| Value after costs | $10,441 | $11,383 | $12,410 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
URFRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0096%
- Total broker commissions: $166K
- Bought from dealers (principal trades, not a cost): $344.0M
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $883K
- Net income from securities lending: $52K (0.003% of average net assets)
URFRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $74K | 44.87% |
| Susquehanna Securities | $38K | 23.11% |
| Wallachbeth Capital LLC | $34K | 20.31% |
| Citadel Securities LLC | $17K | 10.53% |
| RBC Capital Markets, LLC | $2K | 1.18% |
URFRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $344.0M | 100.00% |
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.