Investment objective & strategy
As of Oct. 24, 2025 · prospectusObjective. The Victory Market Neutral Income Fund's (the Fund) objective is high current income.
Strategy. The Fund pursues its investment objective by implementing a proprietary, market neutral investment strategy designed to seek income from its investments while maintaining a low correlation to the foreign and domestic equity and bond markets. The Fund uses a multi-strategy approach. First, it seeks income from long positions in foreign and domestic dividend producing equity securities of any market capitalization size. Second, the Fund seeks to offset market risk by selling short high-correlating equity index futures contracts, such as the S&P 500 Index, Russell 2000 or MSCI EAFE + Emerging Markets Indexes, or exchange-traded funds (ETFs) that track such indexes. The Fund seeks to offset the remaining market risk by investing in long futures positions in the Nasdaq-100 Index and … The Fund pursues its investment objective by implementing a proprietary, market neutral investment strategy designed to seek income from its investments while maintaining a low correlation to the foreign and domestic equity and bond markets. The Fund uses a multi-strategy approach. First, it seeks income from long positions in foreign and domestic dividend producing equity securities of any market capitalization size. Second, the Fund seeks to offset market risk by selling short high-correlating equity index futures contracts, such as the S&P 500 Index, Russell 2000 or MSCI EAFE + Emerging Markets Indexes, or exchange-traded funds (ETFs) that track such indexes. The Fund seeks to offset the remaining market risk by investing in long futures positions in the Nasdaq-100 Index and short futures positions in the S&P 500 Index, or use similar strategies the Adviser deems appropriate and necessary under current market conditions.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| S P 500 EMINI FUTURE JUN26 | — | $55.29M | 1.90% |
| PKN ORLEN | — | $17.40M | 0.60% |
| NEW JERSEY RESOURCES CORP | — | $16.06M | 0.55% |
| SPIRE INC | — | $14.97M | 0.51% |
| SCB X PCL | SCB | $14.92M | 0.51% |
| PORTLAND GENERAL ELECTRIC CO | — | $14.76M | 0.51% |
| AMBEV SA | — | $14.36M | 0.49% |
| ORANGE | — | $14.28M | 0.49% |
| VALE SA | — | $13.90M | 0.48% |
| ENI SPA | — | $13.21M | 0.45% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| WisdomTree Global High Dividend Fund · DEW | 31% | 0.58% |
| VictoryShares Hedged Equity Income ETF · HEJD | 25% | 0.55% |
| VictoryShares US 500 Enhanced Volatility Wtd ETF · CFO | 20% | 0.35% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
Footnotes
- Expense ratio as of October 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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