ETF Evaluator:
VictoryShares Pioneer Asst-Based Inc ETF ()
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(as of Jul 30)
Best Performing in Multisector Bond Over the Last Year
| 7.3% | Eaton Vance Income Opportunities ETF (XAGG) |
| 7.1% | Bluemonte Diversified Income ETF (BLUI) |
| 7.0% | Rareview Dynamic Fixed Income ETF (RDFI) |
| 6.3% | FolioBeyond Enhanced Fixed Inc Prm ETF (FIXP) |
| 5.6% | Neuberger Flexible Credit Income ETF (NBFC) |
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ETF Details
VictoryShares Pioneer Asst-Based Inc ETF Overview
VictoryShares Pioneer Asst-Based Inc ETF (ABI) is an actively managed Taxable Bond Multisector Bond exchange-traded fund (ETF). Victory Capital Management Inc. launched the ETF in 2025.
The investment seeks total return.
Under normal circumstances, the fund invests at least 80% of its net assets in various U.S. dollar-denominated asset-based income investments. Asset-based income investments include, but are not limited to, securitized assets, such as ABS, including private and multi-class structures, pass-through certificates, residual certificates, and other instruments secured by financial, physical, and/or intangible assets.
About VictoryShares Pioneer Asst-Based Inc ETF (ABI)
There are 2 members of the management team with an average tenure of 1.10 years: Nicolas Pauwels (2025) and Noah Funderburk (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
VictoryShares Pioneer Asst-Based Inc ETF has 107 securities in its portfolio. The top 10 holdings constitute 21.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VictoryShares Pioneer Asst-Based Inc ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. VictoryShares Pioneer Asst-Based Inc ETF has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 100.0% (97.4% domestic bond, 2.6% foreign bond and 0.0% convertible bond). VictoryShares Pioneer Asst-Based Inc ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $56 million in total assets, which is below the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ABI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VictoryShares Pioneer Asst-Based Inc ETF expense ratio is above average compared to funds in the Multisector Bond category. VictoryShares Pioneer Asst-Based Inc ETF has an expense ratio of 0.65%, which is the same as its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VictoryShares Pioneer Asst-Based Inc ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 163% for the Multisector Bond category.
Recently, in the month of July 2026, VictoryShares Pioneer Asst-Based Inc ETF returned 0.3%, which earned it a grade of A, as the Multisector Bond category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VictoryShares Pioneer Asst-Based Inc ETF has a trailing yield of 6.20%, which is above the 5.63% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VictoryShares Pioneer Asst-Based Inc ETF Grades
Year to date, the ETF has returned 3.3%, 2.0 percentage points better than the category, which translates into a grade of A. The fund has returned 5.1% over the past year (grade of B).
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ABI Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ABI Return (NAV) | 0.3% | 1.4% | 5.1% | na | na | na |
| ABI Return (Price) | 0.4% | 1.4% | 5.1% | na | na | na |
| NAV +/- Price Return | -0.118% | -0.034% | 0.024% | na | na | na |
| Multisector Bond Avg | -0.5% | 0.3% | 4.5% | 6.2% | 1.8% | 3.1% |
| ABI Grade (NAV) | A | A | B | na | na | na |
| +/- Category (NAV) | 0.9% | 1.2% | 0.6% | na | na | na |
| ABI Tax-Cost Ratio | na | na | 2.5% | na | na | na |
ABI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ABI Return (NAV) | 3.3% | na | na | na | na | na | na | na | na | na | na |
| ABI Return (Price) | 3.3% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.002% | na | na | na | na | na | na | na | na | na | na |
| Multisector Bond Avg | 1.3% | 7.6% | 5.5% | 8.2% | -10.8% | 3.0% | 4.7% | 10.6% | -1.8% | 5.9% | 7.4% |
| ABI Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.0% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 6.2% |
| Total Assets: | $ 56 Mil |
| Share Class Assets: | $ 56 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.1 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): Pauwels Nicolas (2025), Funderburk Noah (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 107 |
| % in Top 10 Holdings: | 21.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 97.4% |
| Foreign Bond: | 2.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Victory Capital Management Inc. |
| Phone Number: | 800-539-3863 |
| Website: | www.CompassEMPFunds.com |
| Inception Date: | June 25, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.65% |
