USTB Fees and Costs — VictoryShares Short-Term Bond ETF
Data updated: 2026-09-11
The net expense ratio is 0.34%: a 0.25% management fee plus 0.09% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 33%.
USTB Fees and Expenses
Annual operating expenses and sales charges of USTB. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 0.34% |
| Fee waiver | — |
| Net expense ratio | 0.34% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
USTB Costs Over Time
On $10,000 invested in USTB, assuming 5% a year before costs, total costs come to $215 over 5 years, cutting the return by 0.36% 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 0.34%) | $36 | $112 | $196 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $36 | $118 | $215 |
| Value after costs | $10,464 | $11,459 | $12,547 |
| Impact on return, per year | 0.36% | 0.36% | 0.36% |
USTB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $7.1B
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $5.1M
- Net income from securities lending: $20K (0.001% of average net assets)
USTB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.0B | 16.45% |
| J.P. Morgan Securities LLC | $980.2M | 15.67% |
| Goldman Sachs & Co. LLC | $938.7M | 15.01% |
| Wells Fargo Securities, LLC | $856.6M | 13.70% |
| RBC Capital Markets, LLC | $612.7M | 9.80% |
| MUFG Securities Americas Inc. | $555.7M | 8.89% |
| Mizuho Securities USA LLC | $369.3M | 5.91% |
| Citigroup Global Markets Inc. | $342.8M | 5.48% |
| Truist Securities, Inc. | $342.2M | 5.47% |
| Barclays Capital Inc. | $227.0M | 3.63% |
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.