VSPIX Fees and Costs — Victory Special Value Fund, Class I
Data updated: 2025-05-29
The net expense ratio is 1.15%: a 0.75% management fee plus 0.75% other expenses, less a 0.35% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $26K in broker commissions, 0.0647% of average net assets, and portfolio turnover was 85%.
VSPIX Fees and Expenses
Annual operating expenses and sales charges of VSPIX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.75% |
| Gross expense ratio | 1.50% |
| Fee waiver | −0.35% |
| Net expense ratio | 1.15% |
| 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 |
VSPIX Costs Over Time
On $10,000 invested in VSPIX, assuming 5% a year before costs, total costs come to $757 over 5 years, cutting the return by 1.28% 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 1.15%) | $121 | $376 | $650 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $128 | $417 | $757 |
| Value after costs | $10,372 | $11,160 | $12,006 |
| Impact on return, per year | 1.28% | 1.28% | 1.28% |
VSPIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0647%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 85%
- Securities on loan, average value: $98K
- Net income from securities lending: $312 (0.001% of average net assets)
VSPIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Raymond James & Associates, Inc. | $6K | 25.89% |
| Barclays Capital Inc. | $4K | 18.60% |
| Wells Fargo Securities, LLC | $2K | 8.18% |
| Evercore Group L.L.C. | $2K | 7.63% |
| Robert W. Baird & Co. Incorporated | $2K | 7.52% |
| Cowen and Company, LLC | $2K | 7.36% |
| BofA Securities, Inc. | $1K | 6.96% |
| Academy Securities Inc. | $1K | 6.69% |
| Liquidnet, Inc. | $1K | 6.16% |
| Jefferies LLC | $1K | 5.01% |
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.