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GGIFX Victory INCORE Fund for Income R

  • Fund
  • GGIFX
  • Price as of: Jul 15, 2019
  • $8.65 - $0.01 - 0.12%
  • Category
  • Total Bond Market

GGIFX - Profile

Vitals

  • YTD Return 0.7%
  • 3 Yr Annualized Return -4.1%
  • 5 Yr Annualized Return -3.5%
  • Net Assets $687 M
  • Holdings in Top 10 33.5%

52 WEEK LOW AND HIGH

$8.65
$8.55
$8.74

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.91%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 27.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

$1,000

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Short Government

Distributions

  • YTD Total Return 1.4%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.27%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Victory INCORE Fund for Income
  • Fund Family Name Victory
  • Inception Date Sep 16, 1987
  • Shares Outstanding N/A
  • Share Class Retirement
  • Currency USD
  • Domiciled Country United States
  • Manager Heidi L. Adelman

GGIFX - Performance

Return Ranking - Trailing

Period GGIFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -3.3% 12.1% 93.15%
1 Yr -0.9% -16.1% 8.0% 94.68%
3 Yr -4.1%* -4.3% 44.5% 99.72%
5 Yr -3.5%* -6.2% 23.8% 99.23%
10 Yr -2.9%* -7.3% 15.9% 99.54%

* Annualized


Return Ranking - Calendar

Period GGIFX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.4% -22.2% 3.1% 76.01%
2017 -4.6% -5.1% 25.1% 99.66%
2016 -4.0% -8.5% 192.8% 99.66%
2015 -3.5% -33.0% 3.0% 68.02%
2014 -2.4% -29.8% 32.1% 92.57%

Total Return Ranking - Trailing

Period GGIFX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.4% -3.3% 12.5% 85.76%
1 Yr 2.5% -16.1% 10.5% 55.82%
3 Yr 0.3%* -4.3% 49.6% 35.17%
5 Yr 1.1%* -3.8% 28.8% 20.87%
10 Yr 2.0%* -7.3% 18.6% 23.84%

* Annualized


Total Return Ranking - Calendar

Period GGIFX Return Category Return Low Category Return High Rank in Category (%)
2018 0.5% -22.2% 7.9% 4.92%
2017 0.4% -4.6% 25.1% 72.04%
2016 1.0% -4.1% 204.3% 50.38%
2015 1.3% -32.4% 4.2% 3.10%
2014 2.3% -29.8% 32.1% 40.64%

NAV & Total Return History

GGIFX - Holdings

Concentration Analysis

GGIFX Category Low Category High GGIFX % Rank
Net Assets 687 M 337 K 218 B 61.50%
Number of Holdings 325 3 17333 69.55%
Net Assets in Top 10 218 M -1.98 B 29.3 B 49.93%
Weighting of Top 10 33.53% 4.0% 1674.7% 38.56%

Top 10 Holdings

  1. United States Treasury Bonds 8.5% 8.15%

  2. Government National Mortgage Association 6.5% 4.53%

  3. Government National Mortgage Association 7% 2.99%

  4. Government National Mortgage Association 6.5% 2.97%

  5. Government National Mortgage Association 7% 2.90%

  6. Government National Mortgage Association 7% 2.67%

  7. Government National Mortgage Association 7.5% 2.62%

  8. Government National Mortgage Association 6.5% 2.30%

  9. Government National Mortgage Association 7.92% 2.27%

  10. Government National Mortgage Association 6.5% 2.15%


Asset Allocation

Weighting Return Low Return High GGIFX % Rank
Bonds
97.09% 0.00% 394.27% 34.77%
Cash
2.91% -539.21% 80.58% 53.46%
Stocks
0.00% -0.99% 97.68% 31.52%
Preferred Stocks
0.00% 0.00% 20.33% 38.56%
Other
0.00% -98.58% 236.55% 28.06%
Convertible Bonds
0.00% 0.00% 18.42% 76.93%

Bond Sector Breakdown

Weighting Return Low Return High GGIFX % Rank
Securitized
88.94% 0.00% 103.00% 1.60%
Government
8.15% -74.72% 316.66% 74.40%
Cash & Equivalents
2.91% -532.79% 80.58% 49.87%
Derivative
0.00% -234.33% 54.22% 24.80%
Corporate
0.00% 0.00% 127.23% 98.14%
Municipal
0.00% 0.00% 102.07% 63.43%

Bond Geographic Breakdown

Weighting Return Low Return High GGIFX % Rank
US
97.09% 0.00% 219.16% 10.57%
Non US
0.00% -108.37% 244.34% 94.15%

GGIFX - Expenses

Operational Fees

GGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.00% 38.42% 44.98%
Management Fee 0.48% 0.00% 2.15% 69.22%
12b-1 Fee 0.25% 0.00% 1.00% 24.66%
Administrative Fee 0.11% 0.00% 0.63% 64.29%

Sales Fees

GGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.15% 5.50% N/A

Trading Fees

GGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Turnover 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.

GGIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 27.00% 0.00% 2337.00% 8.92%

GGIFX - Distributions

Dividend Yield Analysis

GGIFX Category Low Category High GGIFX % Rank
Dividend Yield 0.04% 0.00% 8.54% 16.95%

Dividend Distribution Analysis

GGIFX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

GGIFX Category Low Category High GGIFX % Rank
Net Income Ratio 4.27% -2.82% 7.22% 4.46%

Capital Gain Distribution Analysis

GGIFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

GGIFX - Managers

Heidi L. Adelman

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2006

13.34

13.3%

Heidi Adelman is the CIO and lead portfolio manager of INCORE’s Short Government strategy. She is responsible for all asset-, commercial-, and mortgage-backed securities in taxable fixed income portfolios. She is also the lead portfolio manager on government and securitized-only portfolios. The Victory Short Government team was renamed INCORE Capital Management on April 1, 2015. INCORE Capital Management is a Victory Capital investment franchise. Ms. Adelman joined Victory Capital in 1996 with two years prior investment experience. Before joining the firm, she held positions within KeyCorp in the audit, asset management compliance, and money market asset management areas. Ms. Adelman holds a Bachelor of Science from The Ohio State University.


Harriet R. Uhlir

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2013

6.33

6.3%

Harriet Uhlir is a portfolio manager with INCORE Capital Management. Ms. Uhlir helps devise and implement portfolio strategy by discussing and debating allocation decisions and making recommendations on security selection. The Victory Short Government team was renamed INCORE Capital Management on April 1, 2015. INCORE Capital Management is a Victory Capital investment franchise. Prior to joining Victory Capital in February 2012, Ms. Uhlir was a senior portfolio manager in Securities Lending at Victory/Key from 2001 to 2012 specializing in mortgages. In addition to her investment experience, she spent three years as a consultant at SunGard Data Systems in Wayne, PA and three years at KeyCorp in Asset Accounting Services and Security Movement & Control. Ms. Uhlir earned a Bachelor of Arts in mathematics from the University of Cincinnati and a Master of Business Administration in finance from Case Western Reserve University.


Tenure Analysis

Category Low

0.66

Category High

30.51

Category Average

9.5

Category Mode

12.59