Investment objective & strategy
As of Aug. 27, 2025 · prospectusObjective. The Victory Short-Term Bond Fund (the Fund) seeks high current income consistent with preservation of principal.
Strategy. The Fund normally invests at least 80% of its assets in a broad range of investment-grade debt securities that have a dollar-weighted average portfolio maturity of three years or less. The debt securities in which the Fund may invest include, among others, obligations of U.S., state, and local governments, and their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; and other securities believed to have debt-like characteristics. Although the Fund will invest primarily in investment-grade securities, the Fund also may invest up to 10% of its net assets in below-investment-grade securities, which are sometimes referred to as high-yield or junk bonds. The Fund also may invest up to 20% of its assets in foreign debt securities, … The Fund normally invests at least 80% of its assets in a broad range of investment-grade debt securities that have a dollar-weighted average portfolio maturity of three years or less. The debt securities in which the Fund may invest include, among others, obligations of U.S., state, and local governments, and their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; and other securities believed to have debt-like characteristics. Although the Fund will invest primarily in investment-grade securities, the Fund also may invest up to 10% of its net assets in below-investment-grade securities, which are sometimes referred to as high-yield or junk bonds. The Fund also may invest up to 20% of its assets in foreign debt securities, including non-dollar-denominated securities and emerging markets securities. The Funds 80% policy may be changed upon at least 60 days prior written notice to shareholders.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $70.59M | 2.60% |
| US TREASURY N/B | — | $56.47M | 2.08% |
| US TREASURY N/B | — | $55.79M | 2.06% |
| US TREASURY N/B | — | $55.56M | 2.05% |
| US TREASURY N/B | — | $46.66M | 1.72% |
| US TREASURY N/B | — | $27.27M | 1.00% |
| US TREASURY N/B | — | $25.17M | 0.93% |
| US TREASURY N/B | — | $21.08M | 0.78% |
| REGAL REXNORD | — | $16.81M | 0.62% |
| US TREASURY N/B | — | $14.58M | 0.54% |
Portfolio moves
Oct 31, 2025 → Jan 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. |
|---|---|---|
| VictoryShares Short-Term Bond ETF · USTB | 62% | 0.34% |
| Victory Ultra Short-Term Bond Fund · UUSTX, UUSIX, URUSX, USBAX | 17% | 0.30% |
| Victory Low Duration Bond Fund · RLDAX, RLDCX, RSDYX | 14% | 0.62% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
Footnotes
- Expense ratio as of August 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 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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