UTEIX Fees and Costs — Victory Tax Exempt Intermediate-Term Fund, Class A
Data updated: 2026-07-27
The net expense ratio is 0.72%: a 0.25% management fee, a 0.25% 12b-1 fee plus 0.34% other expenses, less a 0.12% fee waiver. This share class carries a maximum front-end sales load of 2.25%. Portfolio turnover was 11%.
UTEIX Fees and Expenses
Annual operating expenses and sales charges of UTEIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.34% |
| Gross expense ratio | 0.84% |
| Fee waiver | −0.12% |
| Net expense ratio | 0.72% |
| Sales charges | |
|---|---|
| Max front load | 2.25% |
| 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 |
UTEIX Costs Over Time
On $10,000 invested in UTEIX, assuming 5% a year before costs, total costs come to $730 over 5 years, cutting the return by 1.23% 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 |
| Sales charges | $225 | $225 | $225 |
| Fund expenses (net expense ratio 0.72%) | $74 | $231 | $402 |
| Lost growth on money paid in costs | $11 | $47 | $103 |
| Total costs | $310 | $503 | $730 |
| Value after costs | $10,190 | $11,073 | $12,033 |
| Impact on return, per year | 3.10% | 1.54% | 1.23% |
UTEIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 11%
- Securities lending: none during the year
UTEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $641.7M | 48.26% |
| Truist Securities, Inc. | $189.2M | 14.23% |
| Barclays Capital Inc. | $125.1M | 9.41% |
| Jefferies LLC | $78.5M | 5.90% |
| BofA Securities, Inc. | $70.2M | 5.28% |
| Morgan Stanley & Co. LLC | $63.7M | 4.79% |
| Wells Fargo Securities, LLC | $56.1M | 4.22% |
| AllianceBernstein L.P. | $39.5M | 2.97% |
| B.C. Ziegler and Company | $37.3M | 2.80% |
| Goldman Sachs & Co. LLC | $28.4M | 2.14% |
Victory Tax Exempt Intermediate-Term Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| UITIX | Institutional Shares | 0.44% | none |
| USATX | Victory Tax Exempt Intermediate-Term - Fund Shares | 0.48% | none |
| UTEIX | Class A | 0.72% | 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.