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Trending ETFs

Victory Total Return Bond Fund, formerly Victory INCORE Total Return Bond Fund

mutual fund
MUCRX
Payout Change
Pending
Price as of:
$8.33 -0.01 -0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Y (MUCYX) C (MUCCX) R6 (MUCRX) A (MUCAX)
MUCRX (Mutual Fund)

Victory Total Return Bond Fund, formerly Victory INCORE Total Return Bond Fund

Payout Change
Pending
Price as of:
$8.33 -0.01 -0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Y (MUCYX) C (MUCCX) R6 (MUCRX) A (MUCAX)
MUCRX (Mutual Fund)

Victory Total Return Bond Fund, formerly Victory INCORE Total Return Bond Fund

Payout Change
Pending
Price as of:
$8.33 -0.01 -0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Y (MUCYX) C (MUCCX) R6 (MUCRX) A (MUCAX)

Name

As of 12/10/2024

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 Total Return Bond Fund, formerly Victory INCORE Total Return Bond Fund

MUCRX | Fund

$8.33

$50 M

3.56%

$0.30

0.66%

Vitals

YTD Return

3.3%

1 yr return

6.1%

3 Yr Avg Return

-2.0%

5 Yr Avg Return

0.3%

Net Assets

$50 M

Holdings in Top 10

35.2%

52 WEEK LOW AND HIGH

$8.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.66%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 79.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/10/2024

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 Total Return Bond Fund, formerly Victory INCORE Total Return Bond Fund

MUCRX | Fund

$8.33

$50 M

3.56%

$0.30

0.66%

MUCRX - Profile

Distributions

  • YTD Total Return 3.3%
  • 3 Yr Annualized Total Return -2.0%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.73%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Victory Total Return Bond Fund, formerly Victory INCORE Total Return Bond Fund
  • Fund Family Name
    Victory Portfolios
  • Inception Date
    Mar 04, 2015
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Edward Goard

Fund Description

The Adviser pursues the Fund’s investment objectives by investing, under normal circumstances, at least 80% of the Fund’s assets in a broad range of bonds.The Adviser uses bond market sector allocation, yield curve positioning, and comprehensive credit analysis to select securities for the Fund. When making investment decisions for corporate bonds, in addition to considering traditional financial and non-financial factors, the Adviser also considers material Environmental, Social, and Governance (“ESG”) related risks and opportunities, both positive and negative, that it believes have the potential to impact a company’s financial performance over an investment’s time horizon. In evaluating ESG factors, the Adviser seeks to quantify how ESG factors affect a corporate bond issuer’s credit quality, but ESG is not a primary factor in the team’s investment decision-making process. ESG factors can vary across companies and industries and may include, but are not limited to, environmental impact, corporate governance, ethical business practices, compliance with regulatory requirements, as well as the use of human, natural, and physical capital.Under normal market conditions, the average duration of the Fund’s portfolio is expected to be between three and seven years. Bonds, also known as fixed income securities, in which the Fund may invest include without limitation: U.S. government securities, including securities issued by agencies or instrumentalities of the U.S. government; long- and short-term corporate debt obligations; mortgage-backed securities, including collateralized mortgage obligations (“CMOs”) and commercial mortgage-backed securities (“CMBS”); asset-backed securities, including collateralized debt obligations (“CDOs”) and collateralized loan obligations (“CLOs”); convertible bonds and notes; and U.S. dollar-denominated obligations of foreign governments, corporations and banks (i.e., Yankee Bonds).The bonds in which the Fund will invest generally will be rated investment-grade or better (Baa3 and above by Moody’s Investors Service, Inc. or BBB- and above by Standard & Poor’s), or if unrated, have been determined by the Adviser to be of comparable quality. The Fund may invest up to 5% of its total assets in below-investment-grade debt securities, commonly known as “high yield” securities or “junk bonds.”The Fund may purchase or sell securities on a when-issued, to-be-announced (“TBA”), delayed delivery or forward commitment basis and may engage in short-term trading of portfolio securities. There is no limitation on the maturity of any specific security the Fund may purchase, and the Fund may sell any security before it matures.The Fund may enter into exchange-traded or over-the-counter derivatives transactions of any kind, such as futures contracts (both long and short positions) and options on futures and swap contracts, including, for example, interest rate swaps and credit default swaps. The Fund also may enter into exchange-traded or over-the-counter foreign currency exchange transactions, including currency futures, forward, and options transactions. The Fund may enter into any of these transactions for a variety of purposes, including, but not limited to, hedging various risks such as credit risk, interest rate risk, currency risk, and liquidity risk; taking a net long or short position in certain investments or markets; providing liquidity in the Fund; equitizing cash; minimizing transaction costs; generating income; adjusting the Fund’s sensitivity to interest rate risk, currency risk, or other risk; replicating certain direct investments; and asset and sector allocation. Some of these strategies may be considered speculative and involve additional risks.The Fund may invest in investment companies, including exchange-traded funds (“ETFs”), for cash management purposes or to seek exposure to a particular asset class.Although the Fund will primarily be invested in domestic securities, up to 20% of the Fund’s assets may be invested in foreign debt securities issued in U.S. dollars.The Adviser regularly reviews the Fund’s investments and may sell investments when it believes they are no longer attractive due to valuation, changes in the fundamental outlook of the company or other investments are considered more attractive.
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MUCRX - Performance

Return Ranking - Trailing

Period MUCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -6.3% 11.5% 70.88%
1 Yr 6.1% -2.1% 15.6% 70.47%
3 Yr -2.0%* -10.0% 28.7% 59.74%
5 Yr 0.3%* -7.2% 58.9% 50.17%
10 Yr N/A* -2.8% 74.0% 43.68%

* Annualized

Return Ranking - Calendar

Period MUCRX Return Category Return Low Category Return High Rank in Category (%)
2023 0.8% -16.2% 8.1% 90.96%
2022 -15.4% -34.7% 131.9% 32.23%
2021 -2.6% -11.6% 4.4% 18.24%
2020 5.1% -9.9% 946.1% 28.65%
2019 4.6% -1.7% 16.9% 75.87%

Total Return Ranking - Trailing

Period MUCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.3% -6.3% 11.5% 70.88%
1 Yr 6.1% -2.1% 15.6% 70.47%
3 Yr -2.0%* -10.0% 28.7% 59.74%
5 Yr 0.3%* -7.2% 58.9% 50.17%
10 Yr N/A* -2.8% 74.0% 41.24%

* Annualized

Total Return Ranking - Calendar

Period MUCRX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -11.3% 11.9% 91.79%
2022 -13.0% -32.2% 131.9% 30.43%
2021 -0.2% -9.4% 9.2% 26.47%
2020 8.0% -1.9% 1009.0% 56.73%
2019 7.6% 1.1% 21668.0% 79.35%

NAV & Total Return History

MUCRX - Holdings

Concentration Analysis

MUCRX Category Low Category High MUCRX % Rank
Net Assets 50 M 2.9 M 314 B 93.47%
Number of Holdings 260 1 17880 82.35%
Net Assets in Top 10 16.6 M 1.62 M 35.1 B 92.63%
Weighting of Top 10 35.18% 4.7% 3984.6% 22.42%

Top 10 Holdings

  1. U S TREASURY NOTE 6.38%
  2. U S TREASURY NOTE 4.09%
  3. U S TREASURY NOTE 3.91%
  4. U S TREASURY NOTE 3.30%
  5. FEDERAL HOME LOAN MORTGAGE CORPORATION 3.22%
  6. FEDERAL NATIONAL MORTGAGE ASSOCIATION 3.18%
  7. FEDERAL HOME LOAN MORTGAGE CORP 3.09%
  8. U S TREASURY NOTE 2.92%
  9. U S TREASURY NOTE 2.74%
  10. U S TREASURY BOND 2.34%

Asset Allocation

Weighting Return Low Return High MUCRX % Rank
Bonds 		99.24% 0.00% 9231.88% 24.77%
Convertible Bonds 		7.24% 0.00% 7.93% 0.94%
Cash 		0.76% -54.51% 237.69% 79.23%
Stocks 		0.00% 0.00% 99.98% 83.21%
Preferred Stocks 		0.00% 0.00% 72.34% 81.52%
Other 		0.00% -27.25% 1695.17% 90.76%

Bond Sector Breakdown

Weighting Return Low Return High MUCRX % Rank
Corporate 		49.79% 0.00% 100.00% 10.46%
Securitized 		30.09% 0.00% 98.40% 47.91%
Government 		17.90% 0.00% 86.23% 67.57%
Cash & Equivalents 		0.76% 0.00% 237.69% 73.73%
Derivative 		0.00% -6.56% 44.82% 62.72%
Municipal 		0.00% 0.00% 100.00% 92.68%

Bond Geographic Breakdown

Weighting Return Low Return High MUCRX % Rank
US 		99.24% 0.00% 9042.62% 23.05%
Non US 		0.00% 0.00% 189.26% 84.42%

MUCRX - Expenses

Operational Fees

MUCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.66% 0.01% 39.64% 52.66%
Management Fee 0.40% 0.00% 1.76% 68.73%
12b-1 Fee 0.00% 0.00% 1.00% 10.72%
Administrative Fee 0.08% 0.01% 0.50% 49.34%

Sales Fees

MUCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MUCRX 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.

MUCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 79.00% 2.00% 493.39% 35.80%

MUCRX - Distributions

Dividend Yield Analysis

MUCRX Category Low Category High MUCRX % Rank
Dividend Yield 3.56% 0.00% 10.11% 47.15%

Dividend Distribution Analysis

MUCRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

MUCRX Category Low Category High MUCRX % Rank
Net Income Ratio 1.73% -1.28% 4.79% 49.07%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MUCRX - Fund Manager Analysis

Managers

Edward Goard

Start Date

Tenure

Tenure Rank

Oct 31, 2009

12.59

12.6%

Edward D. Goard is a Chief Investment Officer of INCORE Capital Management and has been a co-portfolio manager of the Victory INCORE Investment Quality Bond Fund and Victory INCORE Low Duration Bond Fund since 2016. Mr. Goard has been with the INCORE since 2014. From 2007-2014, he was an investment professional with Munder Capital Management, which was acquired by the INCORE in 2014. He was previously with Barclays Global Investors (BGI) as a senior portfolio manager and the head of interest rate and mortgage strategies. Mr. Goard is a CFA charterholder. Mr. Goard earned a B.S. in International Finance from San Francisco State University.

James Kelts

Start Date

Tenure

Tenure Rank

Oct 26, 2012

9.6

9.6%

James R. Kelts is a Senior Portfolio Manager of INCORE Capital Management and has been a co-portfolio manager of the Victory INCORE Investment Quality Bond Fund and Victory INCORE Low Duration Bond Fund since 2016. He has been with the INCORE since 2014. From 2003-2014, he was an investment professional with Munder Capital Management, which was acquired by the INCORE in 2014. Mr. Kelts is a CFA charterholder. Mr. Kelts earned a B.A. in Finance from Michigan State University, is a CFA® charterholder, and a member of the CFA Institute and the CFA Society of Detroit.

Richard Consul

Start Date

Tenure

Tenure Rank

Oct 26, 2012

9.6

9.6%

Richard A. Consul is a Senior Portfolio Manager of INCORE Capital Management and has been a co-portfolio manager of the Victory INCORE Investment Quality Bond Fund and Victory INCORE Low Duration Bond Fund since 2016. He has been with the Adviser since 2014. From 2010-2014, he was an investment professional with Munder Capital Management, which was acquired by the INCORE in 2014. Prior to that, Mr. Consul was a foreign exchange currency trader and a futures/options trader specializing in crude oil for a commodities hedge fund portfolio. Mr. Consul is a CFA charterholder. He earned a B.B.A. in Finance with a minor in Mathematics and an M.S.E. in Financial Engineering from the University of Michigan. He is a member of the International Association of Financial Engineers.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16

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