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Name

As of 04/16/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Victory Investment Grade Convertible Fund, formerly Victory INCORE Investment Grade Convertible Fund

VICIX | Fund

$16.73

$277 M

0.16%

$0.03

0.92%

Vitals

YTD Return

0.5%

1 yr return

7.1%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

6.0%

Net Assets

$277 M

Holdings in Top 10

50.5%

52 WEEK LOW AND HIGH

$16.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.92%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/16/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Victory Investment Grade Convertible Fund, formerly Victory INCORE Investment Grade Convertible Fund

VICIX | Fund

$16.73

$277 M

0.16%

$0.03

0.92%

VICIX - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 6.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.59%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Victory Investment Grade Convertible Fund, formerly Victory INCORE Investment Grade Convertible Fund
  • Fund Family Name
    Victory Portfolios
  • Inception Date
    Sep 18, 2007
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Kaesberg

Fund Description

The Adviser pursues the Fund’s investment objectives by investing primarily in securities convertible into common stocks, such as convertible bonds, convertible notes, and convertible preferred stocks. The Fund may invest in equity securities of foreign companies traded on U.S. exchanges, including American Depositary Receipts and Global Depositary Receipts (“ADRs” and “GDRs”).Under normal circumstances, the Fund will invest at least 80% of its assets in investment-grade securities, which are convertible into common stock, and synthetic convertible securities, which are derivative positions composed of two or more securities with investment characteristics that, when taken together, resemble those of traditional convertible securities. These investment-grade securities are those that are rated at the time of purchase within the four highest rating categories assigned by a Nationally Recognized Statistical Rating Organization, or if unrated, are securities that the Adviser determines to be of comparable or equivalent quality.The Fund may invest up to 20% of its net assets in below-investment-grade securities (sometimes referred to as “junk bonds) if the Adviser believes that the positive qualities of the security justify the potential risk. These securities are rated Ba, B, Caa, or lower by Moody’s and BB, B, CCC, or lower by S&P. The Fund also may purchase unrated securities with similar characteristics.The Adviser employs a bottom-up research process by identifying convertible securities that possess strong underlying equity potential, high quality financial characteristics and the opportunity for solid total return over a 12-18 month time horizon. The Adviser may sell a security when the underlying equity valuation changes due to a price change or change in fundamentals of the company, the underlying fixed income component has deteriorated or the convertible characteristics have changed.As a result of the Adviser’s investment process, the Fund’s investments may be focused in one or more economic sectors from time to time, including the financials sector.
Read More

VICIX - Performance

Return Ranking - Trailing

Period VICIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -5.3% 2.9% 25.61%
1 Yr 7.1% -12.4% 9.5% 13.41%
3 Yr -0.5%* -18.7% -0.1% 4.94%
5 Yr 6.0%* -7.2% 10.8% 76.62%
10 Yr 6.9%* -1.3% 9.8% 50.82%

* Annualized

Return Ranking - Calendar

Period VICIX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -7.7% 13.1% 72.62%
2022 -13.4% -37.8% -9.7% 7.23%
2021 0.8% -18.9% 2.4% 6.02%
2020 6.0% 5.8% 54.0% 97.47%
2019 14.1% 9.9% 24.4% 70.89%

Total Return Ranking - Trailing

Period VICIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -5.3% 2.9% 25.61%
1 Yr 7.1% -12.4% 9.5% 13.41%
3 Yr -0.5%* -18.7% -0.1% 4.94%
5 Yr 6.0%* -7.2% 10.8% 76.62%
10 Yr 6.9%* -1.3% 9.8% 50.82%

* Annualized

Total Return Ranking - Calendar

Period VICIX Return Category Return Low Category Return High Rank in Category (%)
2023 8.3% -7.7% 15.3% 51.19%
2022 -11.4% -37.8% -9.7% 7.23%
2021 11.3% -12.2% 11.3% 1.20%
2020 11.8% 5.8% 64.4% 96.20%
2019 20.5% 12.2% 28.7% 78.48%

NAV & Total Return History

VICIX - Holdings

Concentration Analysis

VICIX Category Low Category High VICIX % Rank
Net Assets 277 M 17.5 M 3.69 B 74.42%
Number of Holdings 45 40 381 94.19%
Net Assets in Top 10 139 M 4.72 M 669 M 72.09%
Weighting of Top 10 50.53% 9.5% 50.5% 2.33%

Top 10 Holdings

  1. BOOKING HOLDINGS INC 6.17%
  2. WELLS FARGO CO 5.82%
  3. BANK OF AMERICA CORP 5.72%
  4. PIONEER NATURAL RESOURCE 5.65%
  5. SOUTHWEST AIRLINES CO 5.62%
  6. EQT CORP 5.20%
  7. NEXTERA ENERGY INC 4.65%
  8. EXPEDIA GROUP INC 4.21%
  9. BARCLAYS BANK PLC 3.84%
  10. FORD MOTOR COMPANY 3.66%

Asset Allocation

Weighting Return Low Return High VICIX % Rank
Bonds 		76.47% 0.00% 141.12% 77.91%
Convertible Bonds 		61.89% 33.22% 110.54% 91.86%
Preferred Stocks 		19.70% 0.00% 22.50% 3.49%
Cash 		4.74% -78.94% 18.48% 25.58%
Stocks 		0.86% 0.00% 23.09% 63.95%
Other 		0.00% -17.11% 0.97% 70.93%

Stock Sector Breakdown

Weighting Return Low Return High VICIX % Rank
Utilities 		78.69% 0.00% 100.00% 41.56%
Industrials 		21.31% 0.00% 23.08% 3.90%
Technology 		0.00% 0.00% 23.73% 84.42%
Real Estate 		0.00% 0.00% 27.87% 81.82%
Healthcare 		0.00% 0.00% 20.31% 88.31%
Financial Services 		0.00% 0.00% 20.48% 81.82%
Energy 		0.00% 0.00% 40.56% 83.12%
Communication Services 		0.00% 0.00% 100.00% 81.82%
Consumer Defense 		0.00% 0.00% 25.78% 84.42%
Consumer Cyclical 		0.00% 0.00% 24.79% 84.42%
Basic Materials 		0.00% 0.00% 24.08% 84.42%

Stock Geographic Breakdown

Weighting Return Low Return High VICIX % Rank
US 		0.86% 0.00% 22.42% 63.95%
Non US 		0.00% 0.00% 1.55% 80.23%

Bond Sector Breakdown

Weighting Return Low Return High VICIX % Rank
Corporate 		100.00% 91.11% 100.00% 15.12%
Cash & Equivalents 		4.74% 0.00% 18.32% 26.74%
Derivative 		0.00% -0.03% 0.32% 59.30%
Securitized 		0.00% 0.00% 0.00% 76.74%
Municipal 		0.00% 0.00% 0.00% 76.74%
Government 		0.00% 0.00% 2.94% 77.91%

Bond Geographic Breakdown

Weighting Return Low Return High VICIX % Rank
US 		76.47% 0.00% 141.12% 77.91%
Non US 		0.00% 0.00% 19.91% 79.07%

VICIX - Expenses

Operational Fees

VICIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.20% 3.16% 68.60%
Management Fee 0.74% 0.20% 1.23% 65.88%
12b-1 Fee 0.00% 0.00% 1.00% 11.76%
Administrative Fee N/A 0.04% 0.15% 74.67%

Sales Fees

VICIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

VICIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VICIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 30.00% 154.00% 3.75%

VICIX - Distributions

Dividend Yield Analysis

VICIX Category Low Category High VICIX % Rank
Dividend Yield 0.16% 0.00% 12.43% 23.26%

Dividend Distribution Analysis

VICIX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Quarterly

Net Income Ratio Analysis

VICIX Category Low Category High VICIX % Rank
Net Income Ratio 1.59% -3.72% 10.32% 5.88%

Capital Gain Distribution Analysis

VICIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

VICIX - Fund Manager Analysis

Managers

James Kaesberg

Start Date

Tenure

Tenure Rank

Apr 30, 1996

26.1

26.1%

Mr. Kaesberg is a Senior Portfolio Manager of Victory Capital Management Inc. and has been associated withVictory Capital Management Inc. or its affiliates since 1985. Mr. Kaesberg is a CFA charterholder.

Mark Vucenovic

Start Date

Tenure

Tenure Rank

Mar 01, 2014

8.25

8.3%

Mr. Vucenovic is a Portfolio Manager/Analyst of Victory Capital Management Inc. and has been associated with Victory Capital Management Inc. or an affiliate since 2009, and previously, from 1995-2002.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 36.97 10.12 7.42

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