Fund Evaluator:

Victory Pioneer Disciplined Value Y Overview

Victory Pioneer Disciplined Value Y (CVFYX) is an actively managed U.S. Equity Large Value fund. Victory Capital Management Inc. launched the fund in 2008.

The investment seeks long-term capital growth. The fund invests primarily in equity securities of U.S. issuers. For purposes of the fund's investment policies, equity securities include common stocks and other equity instruments, such as securities of other investment companies that invest primarily in equity securities, depositary receipts, warrants, rights, equity interests in real estate investment trusts and preferred stocks. It may invest in issuers of any market capitalization. The fund may invest in securities in any industry or market sector. It may invest in fewer than 40 securities.

About Victory Pioneer Disciplined Value Y (CVFYX)

There are 3 members of the management team with an average tenure of 4.51 years: John Arege (2025), Sammi Truong (2025), Craig Sterling (2015). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Victory Pioneer Disciplined Value Y has 72 securities in its portfolio. The top 10 holdings constitute 32.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Victory Pioneer Disciplined Value Y is part of the Equity global asset class and is within the U.S. Equity fund group. Victory Pioneer Disciplined Value Y has 2.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.0%. There is 2.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.5% (0.5% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Victory Pioneer Disciplined Value Y has 0.9% of the portfolio in cash.

Assets Under Management

The fund has $146 million in total assets, which is below the $1 billion average for the Large Value 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.

CVFYX 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 Victory Pioneer Disciplined Value Y expense ratio is average compared to funds in the Large Value category. Victory Pioneer Disciplined Value Y has an expense ratio of 0.45%, which is 51% lower than its category average, making the fund expense ratio grade a A. 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. Victory Pioneer Disciplined Value Y has a portfolio turnover rate of 86%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.

Recently, in the month of July 2026, Victory Pioneer Disciplined Value Y returned 4.3%, which earned it a grade of A, as the Large Value category had an average return of 2.9%. 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 funds in that category.

Victory Pioneer Disciplined Value Y has a trailing yield of 2.13%, which is above the 1.20% category average. The fund normally distributes its income annually 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.

Victory Pioneer Disciplined Value Y Grades

Year to date, the fund has returned 12.4%, 1.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 23.2% over the past year (grade of C), 13.5% over the past three years (grade of D) and 9.8% per year over the past five years (grade of D) and 11.5% per year over the past 10 years (grade of C).

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