USBSX Fees and Costs — Victory Cornerstone Moderate Fund
Data updated: 2026-07-27
The net expense ratio is 1.08% (1.21% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $772K in broker commissions, 0.0660% of average net assets, and portfolio turnover was 145%.
USBSX Fees and Expenses
Annual operating expenses and sales charges of USBSX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.21% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.08% |
| 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 | No |
USBSX Costs Over Time
On $10,000 invested in USBSX, assuming 5% a year before costs, total costs come to $715 over 5 years, cutting the return by 1.20% 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 1.08%) | $113 | $353 | $612 |
| Trading costs (broker commissions) | $7 | $22 | $37 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $120 | $393 | $715 |
| Value after costs | $10,380 | $11,183 | $12,048 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
USBSX 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): 0.0660%
- Total broker commissions: $772K
- Bought from dealers (principal trades, not a cost): $10.0M
- Portfolio turnover (prospectus): 145%
- Securities on loan, average value: $51.2M
- Net income from securities lending: $346K (0.030% of average net assets)
USBSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $312K | 40.80% |
| Wallachbeth Capital LLC | $189K | 24.64% |
| Citadel Securities LLC | $124K | 16.15% |
| Susquehanna Securities | $61K | 7.98% |
| Virtu Americas LLC | $35K | 4.62% |
| RBC Capital Markets, LLC | $17K | 2.28% |
| Academy Securities Inc. | $14K | 1.77% |
| Amerivet Securities, Inc. | $5K | 0.60% |
| Citigroup Global Markets Inc. | $4K | 0.59% |
| JonesTrading Institutional Services LLC | $4K | 0.57% |
USBSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Academy Securities Inc. | $10.0M | 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.