USBLX Fees and Costs — Victory Growth and Tax Strategy Fund
Data updated: 2026-07-27
The net expense ratio is 0.52%: a 0.29% management fee plus 0.23% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $51K in broker commissions, 0.0059% of average net assets, and portfolio turnover was 16%.
USBLX Fees and Expenses
Annual operating expenses and sales charges of USBLX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.23% |
| Gross expense ratio | 0.52% |
| Fee waiver | — |
| Net expense ratio | 0.52% |
| 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 |
USBLX Costs Over Time
On $10,000 invested in USBLX, assuming 5% a year before costs, total costs come to $332 over 5 years, cutting the return by 0.55% 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 0.52%) | $55 | $171 | $298 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $9 | $30 |
| Total costs | $55 | $182 | $332 |
| Value after costs | $10,445 | $11,395 | $12,431 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
USBLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0059%
- Total broker commissions: $51K
- Bought from dealers (principal trades, not a cost): $447.2M
- Portfolio turnover (prospectus): 16%
- Securities on loan, average value: $90K
- Net income from securities lending: $84 (0.000% of average net assets)
USBLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $18K | 35.51% |
| Academy Securities Inc. | $12K | 24.26% |
| Susquehanna Securities | $8K | 15.72% |
| Goldman Sachs & Co. LLC | $6K | 11.06% |
| RBC Capital Markets, LLC | $5K | 9.20% |
| Jane Street Capital, LLC | $2K | 3.94% |
| J.P. Morgan Securities LLC | $159 | 0.31% |
USBLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $127.7M | 32.82% |
| Jefferies LLC | $92.5M | 23.78% |
| Barclays Capital Inc. | $31.5M | 8.10% |
| Morgan Stanley & Co. LLC | $29.4M | 7.56% |
| Truist Securities, Inc. | $27.5M | 7.08% |
| B.C. Ziegler and Company | $25.4M | 6.54% |
| BofA Securities, Inc. | $15.8M | 4.07% |
| Raymond James & Associates, Inc. | $14.5M | 3.72% |
| Goldman Sachs & Co. LLC | $13.4M | 3.43% |
| RBC Capital Markets, LLC | $11.3M | 2.90% |
Victory Growth and Tax Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| USBLX | Victory Growth and Tax Strategy Fund | 0.52% | none |
| UGTIX | Institutional Class | 0.56% | none |
| UGTAX | Class A | 0.83% | 2.25% |
| UGTCX | Class C | 1.57% | 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.