USAAX Fees and Costs — Victory Growth Fund, Shares
Data updated: 2026-09-29
The net expense ratio is 0.88%: a 0.67% management fee plus 0.21% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $221K in broker commissions, 0.0087% of average net assets, and portfolio turnover was 15%.
USAAX Fees and Expenses
Annual operating expenses and sales charges of USAAX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.88% |
| Fee waiver | — |
| Net expense ratio | 0.88% |
| 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 |
USAAX Costs Over Time
On $10,000 invested in USAAX, assuming 5% a year before costs, total costs come to $557 over 5 years, cutting the return by 0.93% 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 0.88%) | $92 | $289 | $501 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $14 | $51 |
| Total costs | $93 | $306 | $557 |
| Value after costs | $10,407 | $11,270 | $12,206 |
| Impact on return, per year | 0.93% | 0.93% | 0.93% |
USAAX 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): 0.0087%
- Total broker commissions: $221K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 15%
- Securities on loan, average value: $8.0M
- Net income from securities lending: $33K (0.001% of average net assets)
USAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $22K | 14.00% |
| Barclays Capital Inc. | $21K | 12.99% |
| Cowen and Company, LLC | $19K | 11.65% |
| Robert W. Baird & Co. Incorporated | $18K | 11.53% |
| Evercore Group L.L.C. | $18K | 11.05% |
| RBC Capital Markets, LLC | $15K | 9.19% |
| Goldman Sachs & Co. LLC | $13K | 8.18% |
| J.P. Morgan Securities LLC | $12K | 7.62% |
| Liquidnet, Inc. | $12K | 7.54% |
| Piper Sandler & Co. | $10K | 6.25% |
Victory Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| USAAX | Shares | 0.88% | none |
| UIGRX | Institutional Shares | 0.93% | none |
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.