Fund Evaluator:
Victory Pioneer A (PIODX)
Follow This Fund
Best Performing in Large Blend Over the Last Year
| 49.8% | PRIMECAP Odyssey Growth (POGRX) |
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| 45.8% | Vanguard PRIMECAP Adm (VPMAX) |
| 45.7% | Vanguard PRIMECAP Inv (VPMCX) |
| 42.3% | Midas Special Opportunities (MISEX) |
Fund Details
Victory Pioneer A Overview
Victory Pioneer A (PIODX) is an actively managed U.S. Equity Large Blend fund. Victory Capital Management Inc. launched the fund in 1928.
The investment seeks reasonable income and capital growth. The fund invests in a broad group of carefully selected securities that the fund's adviser believes are reasonably priced, rather than in securities whose prices reflect a premium resulting from their current market popularity. It invests predominantly in equity securities. The fund primarily invests in securities of U.S. issuers. It may invest up to 15% of its total assets in securities of non-U.S. issuers.
About Victory Pioneer A (PIODX)
There are 3 members of the management team with an average tenure of 8.37 years: Craig Sterling (2019), James Yu (2019), Jeffrey Kripke (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Victory Pioneer A has 45 securities in its portfolio. The top 10 holdings constitute 48.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Victory Pioneer A is part of the Equity global asset class and is within the U.S. Equity fund group. Victory Pioneer A has 3.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.8%. There is 3.2% 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 Pioneer A has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $8 billion in total assets, which is above the $6 billion average for the Large Blend 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.
PIODX 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 A expense ratio is high compared to funds in the Large Blend category. Victory Pioneer A has an expense ratio of 0.92%, which is 13% higher than 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. Victory Pioneer A has a portfolio turnover rate of 88%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, Victory Pioneer A returned -2.7%, which earned it a grade of F, as the Large Blend category had an average return of 0.4%. 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 A has a trailing yield of 0.12%, which is below the 0.56% category average. The fund normally distributes its income quarterly 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 A Grades
Year to date, the fund has returned 8.3%, 1.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 17.1% over the past year (grade of C), 20.6% over the past three years (grade of A) and 12.7% per year over the past five years (grade of B) and 15.8% per year over the past 10 years (grade of A).
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PIODX 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 |
|
| PIODX Return (NAV) | -2.7% | -1.6% | 17.1% | 20.6% | 12.7% | 15.8% |
| PIODX Grade | F | F | C | A | B | A |
| +/- Category | -3.1% | -5.7% | -0.4% | 3.3% | 1.6% | 2.1% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| PIODX Tax Cost Ratio | na | na | 2.5% | 2.3% | 2.5% | 2.9% |
PIODX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PIODX Return (NAV) | 8.3% | 23.2% | 22.6% | 28.7% | -19.5% | 27.8% | 23.9% | 31.0% | -1.7% | 21.5% | 9.6% |
| PIODX Grade | D | A | C | A | D | B | A | B | A | C | D |
| +/- Category | -1.0% | 7.4% | 0.5% | 5.0% | -2.2% | 1.3% | 6.4% | 1.2% | 4.1% | 0.2% | -0.6% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 15.2% |
| Total Risk Index: | 1.24 - Above Average |
| Category Risk Index: | 1.15 - High |
| Category Risk Grade: | F (96% Rank) |
| Beta: | 1.10 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $10834 Mil |
| Fund Total Assets: | $8,590 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 88% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 11.1 years | |||
| Average Tenure: 8.4 years | |||
| Managers (Year): Kripke Jeffrey (2015), Sterling Craig (2019), Yu James (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 45 |
| % in Top 10 Holdings: | 48.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.2% |
Portfolio Allocation |
|
| Domestic Stock: | 96.8% |
| Foreign Stock: | 3.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Victory Capital Management Inc. |
| Phone Number: | 800-225-6292 |
| Website: | www.pioneerinvestments.com |
| Status: | Open |
| Inception Date: | February 10, 1928 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Victory Pioneer A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
