USAIX Fees and Costs — Victory Income Fund, Shares
Data updated: 2026-09-29
The net expense ratio is 0.58%: a 0.30% management fee plus 0.28% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 17%.
USAIX Fees and Expenses
Annual operating expenses and sales charges of USAIX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.28% |
| Gross expense ratio | 0.58% |
| Fee waiver | — |
| Net expense ratio | 0.58% |
| 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 |
USAIX Costs Over Time
On $10,000 invested in USAIX, assuming 5% a year before costs, total costs come to $366 over 5 years, cutting the return by 0.61% 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 0.58%) | $61 | $191 | $332 |
| Lost growth on money paid in costs | $0 | $9 | $33 |
| Total costs | $61 | $200 | $366 |
| Value after costs | $10,439 | $11,376 | $12,397 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
USAIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $4.7B
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $23.5M
- Net income from securities lending: $126K (0.003% of average net assets)
USAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $781.4M | 18.73% |
| Mizuho Securities USA LLC | $770.3M | 18.46% |
| J.P. Morgan Securities LLC | $656.6M | 15.74% |
| State Street Global Markets, LLC | $641.0M | 15.37% |
| Citigroup Global Markets Inc. | $409.1M | 9.81% |
| BofA Securities, Inc. | $308.7M | 7.40% |
| Truist Securities, Inc. | $189.5M | 4.54% |
| Goldman Sachs & Co. LLC | $163.7M | 3.92% |
| RBC Capital Markets, LLC | $136.8M | 3.28% |
| Barclays Capital Inc. | $114.6M | 2.75% |
Victory Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| URIFX | Class R6 | 0.43% | none |
| UIINX | Institutional Shares | 0.53% | none |
| USAIX | Shares | 0.58% | none |
| UINCX | Class A | 0.82% | 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.