# Portfolio overlap — IPFIX vs SAPEX

Comparing **Victory Fund for Income** (2026-03-31) and **Spectrum Active Advantage Fund** (2026-03-31).

- Shared positions: 1
- Victory Fund for Income covered by Spectrum Active Advantage Fund: 0.09573072890848364742611094605
- Spectrum Active Advantage Fund covered by Victory Fund for Income: 0.09573072890848364742611094605

## Victory Fund for Income — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| US TREASURY N/B | 0.102675 |  |
| US TREASURY N/B | 0.101257 |  |
| U.S. Treasury Bills | 0.095731 | ✓ |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.022693 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.018639 |  |
| GN 787966 | 0.016286 |  |
| GN 787965 | 0.015203 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.015131 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.014379 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.011746 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.011415 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.011171 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.011075 |  |
| GN 787964 | 0.010948 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.010877 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.010393 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.010355 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.010198 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.009864 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.009835 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.009731 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.009096 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.008974 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.008898 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.008753 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.008504 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.007779 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.007591 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.006320 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.006279 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.006208 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.006081 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.006051 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.005786 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.005650 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.005141 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004843 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004833 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004832 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004710 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.004638 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004635 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION G1 | 0.004274 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.004142 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004097 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004040 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.004030 |  |
| GOVERNMENT NATIONAL MORTGAGE CORPORATION | 0.003821 |  |
| G2 3900 | 0.003691 |  |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION | 0.003673 |  |

## Spectrum Active Advantage Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| U.S. Treasury Bills | 0.290463 | ✓ |
| U.S. Treasury Bills | 0.155023 |  |
| INVESCO S&P 500 EQUAL WEIGHT MUTUAL FUND | 0.108094 |  |
| U.S. Treasury Bills | 0.102470 |  |
| MONEYMKT | 0.084639 |  |
| FRST AM-GV OB-Z | 0.084639 |  |
| Ambassador Fund USD Class | 0.058354 |  |
| V/P-CAT BND-K | 0.058250 |  |
| ISHARES S&P 100 ETF MUTUAL FUND | 0.057326 |  |
| AQR LONG-SRT EQ FU C | 0.000742 |  |


## Sources

- N-PORT (fund A) — accession `0001004726-26-004287` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/802716/000100472626004287/0001004726-26-004287-index.htm>
- N-PORT (fund B) — accession `0000910472-26-006371` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1556505/000091047226006371/0000910472-26-006371-index.htm>

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