RSHCX: Victory High Income Municipal Bond C

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RSHCX Victory High Income Municipal Bond C


Profile

RSHCX - Profile

Vitals

  • YTD Return -1.1%
  • 3 Yr Annualized Return 0.2%
  • 5 Yr Annualized Return N/A
  • Net Assets $38.4 M
  • Holdings in Top 10 43.0%

52 WEEK LOW AND HIGH

$10.63
$9.49
$11.15

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.85%

SALES FEES

  • Front Load 2.00%
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification


Distributions

  • YTD Total Return -1.1%
  • 3 Yr Annualized Total Return 0.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.35%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Victory High Income Municipal Bond Fund
  • Fund Family Name
    Victory Capital
  • Inception Date
    Dec 31, 2009
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Andrew Hattman

Fund Description

The fund invests primarily in municipal obligations, the interest on which is, in the opinion of the issuer's bond counsel, exempt from federal individual income tax (but not necessarily the federal alternative minimum tax (the "AMT")). Under normal circumstances at least 80% of the value of the fund's assets will be invested in tax-exempt municipal obligations (which may include obligations that pay interest subject to the AMT).


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Categories

Performance

RSHCX - Performance

Return Ranking - Trailing

Period RSHCX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -11.6% 1.7% 6.60%
1 Yr -0.9% -11.5% 5.3% 8.76%
3 Yr 0.2%* -1.6% 2.8% 42.77%
5 Yr N/A* -2.2% 2.6% 19.21%
10 Yr N/A* -1.4% 2.1% 26.13%

* Annualized

Return Ranking - Calendar

Period RSHCX Return Category Return Low Category Return High Rank in Category (%)
2019 3.5% -0.7% 9.1% 87.96%
2018 -3.7% -4.8% 9.2% 92.09%
2017 4.3% -9.7% 8.6% 43.67%
2016 N/A -6.1% -0.8% N/A
2015 N/A -5.6% 2.9% N/A

Total Return Ranking - Trailing

Period RSHCX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -11.6% 1.7% 6.60%
1 Yr -0.9% -11.5% 5.3% 8.76%
3 Yr 0.2%* -1.6% 2.8% 48.55%
5 Yr N/A* -2.2% 3.0% 21.19%
10 Yr N/A* -1.4% 4.5% 29.73%

* Annualized

Total Return Ranking - Calendar

Period RSHCX Return Category Return Low Category Return High Rank in Category (%)
2019 3.5% -0.7% 9.1% 87.96%
2018 -3.7% -4.8% 9.2% 92.09%
2017 4.3% -9.7% 8.8% 48.10%
2016 N/A -6.1% 1.1% N/A
2015 N/A -5.6% 5.3% N/A

NAV & Total Return History


Holdings

RSHCX - Holdings

Concentration Analysis

RSHCX Category Low Category High RSHCX % Rank
Net Assets 38.4 M 573 K 19.1 B 97.50%
Number of Holdings 39 5 3533 95.50%
Net Assets in Top 10 16.5 M -38.7 M 2.67 B 87.00%
Weighting of Top 10 43.02% 4.2% 96.4% 4.55%

Top 10 Holdings

  1. REGIONAL TRANSN DIST COLO PRIVATE ACTIVITY REV 6% 5.26%
  2. VILLAGE CMNTY DEV DIST NO 8 FLA SPL ASSMT REV 6.12% 5.03%
  3. VILLAGE CMNTY DEV DIST NO 8 FLA SPL ASSMT REV 6.12% 4.80%
  4. LANCASTER CNTY S C ASSMT REV 5% 4.61%
  5. CALIFORNIA EDL FACS AUTH REV 5% 4.40%
  6. CHICAGO ILL BRD ED DEDICATED CAP IMPT 6% 4.32%
  7. TOBACCO SETTLEMENT FING CORP N J 5% 4.00%
  8. VILLAGE CMNTY DEV DIST NO 10 FLA SPL ASSMT REV 5.75% 3.64%
  9. UNIVERSITY N C CHAPEL HILL UNIV N C HOSP REV 5% 3.49%
  10. UTAH INFRASTRUCTURE AGY TELECOMMUNICATION REV 5.38% 3.47%

Asset Allocation

Weighting Return Low Return High RSHCX % Rank
Bonds
97.77% 0.00% 148.07% 59.70%
Cash
2.23% -1.98% 100.00% 35.50%
Stocks
0.00% 0.00% 4.54% 67.16%
Preferred Stocks
0.00% -48.07% 0.00% 61.00%
Other
0.00% -0.04% 1.57% 69.00%
Convertible Bonds
0.00% 0.00% 0.00% 62.50%

Bond Sector Breakdown

Weighting Return Low Return High RSHCX % Rank
Municipal
97.77% 0.00% 100.00% 55.00%
Cash & Equivalents
2.23% 0.00% 100.00% 38.00%
Derivative
0.00% 0.00% 0.26% 64.00%
Securitized
0.00% 0.00% 0.00% 62.00%
Corporate
0.00% 0.00% 5.11% 76.50%
Government
0.00% -2.36% 0.96% 68.50%

Bond Geographic Breakdown

Weighting Return Low Return High RSHCX % Rank
US
97.77% 0.00% 141.91% 13.00%
Non US
0.00% 0.00% 16.32% 95.00%

Expenses

RSHCX - Expenses

Operational Fees

RSHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.85% 0.18% 7.04% 7.54%
Management Fee 0.50% 0.00% 1.25% 50.75%
12b-1 Fee 1.00% 0.00% 1.00% 88.79%
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

RSHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.00% 1.00% 4.75% 95.65%
Deferred Load 1.00% 1.00% 5.50% 68.18%

Trading Fees

RSHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

RSHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 5.10% 314.00% 83.00%

Distributions

RSHCX - Distributions

Dividend Yield Analysis

RSHCX Category Low Category High RSHCX % Rank
Dividend Yield 0.26% 0.00% 0.62% 6.97%

Dividend Distribution Analysis

RSHCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

RSHCX Category Low Category High RSHCX % Rank
Net Income Ratio 3.35% -0.98% 5.67% 69.85%

Capital Gain Distribution Analysis

RSHCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History

View More +

Fund Manager Analysis

RSHCX - Fund Manager Analysis

Managers

Andrew Hattman


Start Date

Tenure

Tenure Rank

Apr 01, 2020

0.25

0.3%

Andrew Hattman, CFA, CAIA, Victory Capital Portfolio Manager--USAA Investments, a Victory Capital investment franchise, has eight years of investment management experience, all of which have been with USAA Asset Management Company (AMCO), which was acquired by the Adviser's parent company in 2019. Mr. Hattman holds CFA and CAIA designations.

John Bonnell


Start Date

Tenure

Tenure Rank

Apr 01, 2020

0.25

0.3%

John C. Bonnell, CFA, Victory Capital Senior Portfolio Manager--USAA Investments, a Victory Capital investment franchise, has 30 years of investment management experience, 25 of which have been with USAA Asset Management Company (AMCO), which was acquired by the Adviser's parent company in 2019. Education: B.B.A., University of Texas at San Antonio; M.B.A., St. Mary's University. He holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute, and the National Federation of Municipal Analysts.

Regina Conklin


Start Date

Tenure

Tenure Rank

Apr 01, 2020

0.25

0.3%

Regina G. Conklin, CFA, CPA, Victory Capital Senior Portfolio Manager--USAA Investments, a Victory Capital investment franchise, has 24 years of investment management experience, and has worked 28 years with USAA Asset Management Company (AMCO), which was acquired by the Adviser's parent company in 2019. Ms. Conklin is a member of the CFA Institute, the CFA Society of San Antonio, and the National Federation of Municipal Analysts.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 28.52 7.07 0.61