Fund Evaluator:

Victory RS Small Cap Growth Y Overview

Victory RS Small Cap Growth Y (RSYEX) is an actively managed U.S. Equity Small Growth fund. Victory Capital Management Inc. launched the fund in 2007.

The investment seeks to provide long-term capital growth. The fund normally invests at least 80% of its assets in small-capitalization companies. The adviser currently 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. The fund typically invests in equity securities of U.S. companies but may also invest any portion of its assets in foreign securities, including depositary receipts such as ADRs and GDRs.

About Victory RS Small Cap Growth Y (RSYEX)

There are 4 members of the management team with an average tenure of 16.72 years: Melissa Chadwick-Dunn (2007), D. Scott Tracy (2007), Paul Leung (2018), Stephen Bishop (2007). 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 Growth TR USD index with a weighting of 100%. Victory RS Small Cap Growth Y has 102 securities in its portfolio. The top 10 holdings constitute 20.5% 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 Small Cap Growth Y is part of the Equity global asset class and is within the U.S. Equity fund group. Victory RS Small Cap Growth Y has 1.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.6%. There is 1.4% 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 Small Cap Growth Y has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $101 million in total assets, which is below the $431 million average for the Small 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.

RSYEX 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 Small Cap Growth Y expense ratio is high compared to funds in the Small Growth category. Victory RS Small Cap Growth Y has an expense ratio of 1.13%, which is 4% 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 Small Cap Growth Y has a portfolio turnover rate of 95%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Small Growth category.

Recently, in the month of July 2026, Victory RS Small Cap Growth Y returned -6.7%, which earned it a grade of C, as the Small Growth category had an average return of -6.7%. 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 Small Cap Growth Y has a trailing yield of 0.00%, which is below the 0.06% 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 RS Small Cap Growth Y Grades

Year to date, the fund has returned 19.1%, 5.5 percentage points better than the category, which translates into a grade of A. The fund has returned 29.1% over the past year (grade of B), 11.4% over the past three years (grade of D) and -1.3% per year over the past five years (grade of F) and 8.6% per year over the past 10 years (grade of F).

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