Investment objective & strategy
As of June 26, 2025 · prospectusObjective. The Victory New York Bond Fund (the Fund) provides New York investors with a high level of current interest income that is exempt from federal income tax and New York State and New York City personal income taxes.
Strategy. The Fund invests primarily in long-term investment-grade securities issued by the state of New York, its political subdivisions, municipalities and public authorities, instrumentalities, and by other government entities, the interest on which is excludable from gross income for federal income tax and New York State and New York City personal income tax purposes (referred to herein as New York tax-exempt securities). During normal market conditions, at least 80% of the Funds net assets will consist of New York tax-exempt securities. This policy may be changed only by a shareholder vote. The effective duration of the Fund is not restricted but generally is expected to be within three years of the Fund's benchmark. In addition, during normal market conditions, at least … The Fund invests primarily in long-term investment-grade securities issued by the state of New York, its political subdivisions, municipalities and public authorities, instrumentalities, and by other government entities, the interest on which is excludable from gross income for federal income tax and New York State and New York City personal income tax purposes (referred to herein as New York tax-exempt securities). During normal market conditions, at least 80% of the Funds net assets will consist of New York tax-exempt securities. This policy may be changed only by a shareholder vote. The effective duration of the Fund is not restricted but generally is expected to be within three years of the Fund's benchmark. In addition, during normal market conditions, at least 80% of the Funds annual net investment income dividends will be tax-exempt and excludable from the calculation of the federal alternative minimum tax (AMT) for individual taxpayers. This policy may be changed only by a shareholder vote.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NEW YORK ST DORM AUTH REVENUE NON ST SUPPORTED DEB | — | $2.96M | 2.79% |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES | — | $2.79M | 2.63% |
| NEW YORK CITY HOUSING DEVELOPMENT CORP | — | $2.72M | 2.56% |
| NEW YORK STATE DORMITORY AUTHORITY | — | $2.63M | 2.47% |
| NYC WTR VAR 6/15/2033 | — | $2.61M | 2.46% |
| NEW YORK ST DORM AUTH | NYSHGR | $2.22M | 2.09% |
| NY TRANS CORP 5% 6/30/2054 @ | NYTTRN | $2.01M | 1.90% |
| LONG BEACH N Y 4.625% 7/15/2052 | — | $2.01M | 1.89% |
| Monroe County Industrial Development Corp., Series A | — | $2.00M | 1.89% |
| Build NYC Resource Corp. (The Children's Aid Society), Series 2015, RB | — | $2.00M | 1.89% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Putnam New York Tax Exempt Income Fund · PTEIX, PEIBX | 8% | 0.53% |
| Franklin New York Municipal Income ETF | 8% | 0.36% |
| MFS New York Municipal Bond Fund · MSNYX, MBNYX, MCNYX, MNYLX, MPNYX | 7% | 0.52% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
Footnotes
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
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