Fund Evaluator:
Victory RS Partners Member (RSPMX)
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Best Performing in Small Value Over the Last Year
| 44.7% | Bridgeway Omni Small-Cap Value N (BOSVX) |
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| 42.5% | Goldman Sachs Small Cp Val Insghts Inv (GTTTX) |
| 40.5% | Auer Growth (AUERX) |
| 39.9% | Heartland Value Investor (HRTVX) |
Fund Details
Victory RS Partners Member Overview
Victory RS Partners Member (RSPMX) is an actively managed U.S. Equity Small Value fund. Victory Capital Management Inc. launched the fund in 2020.
The investment seeks to provide long-term capital appreciation. The fund invests principally in equity securities of small-capitalization companies. The adviser considers a company to be a small-capitalization company if its market capitalization (at the time of purchase) is less than $3 billion or 120% of the market capitalization of the largest company included in the Russell 2000® Index, whichever is greater.
About Victory RS Partners Member (RSPMX)
There are 2 members of the management team with an average tenure of 12.92 years: Joseph Mainelli (2013), Robert Harris (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 Value TR USD index with a weighting of 100%. Victory RS Partners Member has 66 securities in its portfolio. The top 10 holdings constitute 25.7% 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 RS Partners Member is part of the Equity global asset class and is within the U.S. Equity fund group. Victory RS Partners Member has 4.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.7%. There is 4.2% 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 RS Partners Member has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $7 million in total assets, which is below the $417 million average for the Small 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.
RSPMX 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 RS Partners Member expense ratio is high compared to funds in the Small Value category. Victory RS Partners Member has an expense ratio of 1.13%, which is 3% 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 RS Partners Member has a portfolio turnover rate of 65%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 128% for the Small Value category.
Recently, in the month of July 2026, Victory RS Partners Member returned 1.5%, which earned it a grade of A, as the Small Value 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 RS Partners Member has a trailing yield of 0.61%, which is below the 0.77% category average. The fund normally distributes its income none.
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 RS Partners Member Grades
Year to date, the fund has returned 20.2%, 0.0 percentage points better than the category, which translates into a grade of C. The fund has returned 26.2% over the past year (grade of D), 13.4% over the past three years (grade of C) and 10.7% per year over the past five years (grade of A) and 11.6% per year over the past 10 years (grade of A).
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RSPMX 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 |
|
| RSPMX Return (NAV) | 1.5% | 6.5% | 26.2% | 13.4% | 10.7% | 11.6% |
| RSPMX Grade | A | C | D | C | A | A |
| +/- Category | 1.9% | 0.1% | -4.4% | 0.0% | 1.6% | 1.7% |
| Small Value Avg | -0.4% | 6.4% | 30.6% | 13.4% | 9.1% | 9.9% |
| RSPMX Tax Cost Ratio | na | na | 1.4% | 1.6% | 2.3% | na |
RSPMX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RSPMX Return (NAV) | 20.2% | 2.7% | 15.2% | 15.9% | -4.4% | 29.9% | 0.5% | 30.7% | -12.0% | 14.2% | 24.0% |
| RSPMX Grade | C | D | A | C | A | C | D | A | B | A | C |
| +/- Category | 0.0% | -3.9% | 5.5% | 0.1% | 5.9% | -0.4% | -3.6% | 7.7% | 2.7% | 4.0% | -0.7% |
| Small Value Avg | 20.1% | 6.6% | 9.7% | 15.8% | -10.3% | 30.3% | 4.1% | 23.0% | -14.7% | 10.2% | 24.7% |
| Risk Measures | |
| Standard Deviation: | 16.6% |
| Total Risk Index: | 1.36 - High |
| Category Risk Index: | 0.92 - Low |
| Category Risk Grade: | A (11% Rank) |
| Beta: | 0.83 |
| R-Squared: | 42% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.6% |
| Dividend Distribution: | None |
| Cap Gains Distribution: | |
| Total Assets: | $685 Mil |
| Fund Total Assets: | $ 7 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 65% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.3 years | |||
| Average Tenure: 12.9 years | |||
| Managers (Year): Mainelli Joseph (2013), Harris Robert (2014) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 66 |
| % in Top 10 Holdings: | 25.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.2% |
Portfolio Allocation |
|
| Domestic Stock: | 95.7% |
| Foreign Stock: | 4.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Victory Capital Management Inc. |
| Phone Number: | 800-235-8396 |
| Website: | www.VictoryFunds.com |
| Status: | Open |
| Inception Date: | November 2, 2020 |
| Min. Initial Purchase: | $3,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.13% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.17% |
| Share Class: | Victory RS Partners A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
