Fund Evaluator:

Victory Mid-Cap Core Growth Y Overview

Victory Mid-Cap Core Growth Y (MGOYX) is an actively managed U.S. Equity Mid-Cap Growth fund. Victory Capital Management Inc. launched the fund in 1998.

The investment seeks long-term capital appreciation. The adviser pursues the fund's objective by investing, under normal circumstances, at least 80% of the fund's assets in equity securities of mid-capitalization companies. Mid-capitalization companies means those companies with market capitalizations within the range of companies included in the S&P MidCap 400® Index.

About Victory Mid-Cap Core Growth Y (MGOYX)

There are 2 members of the management team with an average tenure of 0.75 years: Elie Masri (2025), Lance Humphrey (2025). 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 Mid Cap TR USD index with a weighting of 100%. Victory Mid-Cap Core Growth Y has 115 securities in its portfolio. The top 10 holdings constitute 19.8% 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 Mid-Cap Core Growth Y is part of the Equity global asset class and is within the U.S. Equity fund group. Victory Mid-Cap Core Growth Y has 1.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.0%. There is 1.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Victory Mid-Cap Core Growth Y has 0.2% of the portfolio in cash.

Assets Under Management

The fund has $93 million in total assets, which is below the $658 million average for the Mid-Cap Growth 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.

MGOYX 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 Mid-Cap Core Growth Y expense ratio is high compared to funds in the Mid-Cap Growth category. Victory Mid-Cap Core Growth Y has an expense ratio of 1.00%, which is 9% lower than its category average, making the fund expense ratio grade a C. 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 Mid-Cap Core Growth Y has a portfolio turnover rate of 89%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Growth category.

Recently, in the month of July 2026, Victory Mid-Cap Core Growth Y returned -1.2%, which earned it a grade of A, as the Mid-Cap Growth category had an average return of -5.5%. 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 funds in that category.

Victory Mid-Cap Core Growth Y has a trailing yield of 0.03%, which is above the 0.03% 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 Mid-Cap Core Growth Y Grades

Year to date, the fund has returned 21.0%, 15.3 percentage points better than the category, which translates into a grade of A. The fund has returned 25.1% over the past year (grade of A), 15.9% over the past three years (grade of A) and 7.8% per year over the past five years (grade of A) and 11.1% per year over the past 10 years (grade of C).

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