Fund Evaluator:

Victory Cornerstone Aggressive Overview

Victory Cornerstone Aggressive (UCAGX) is an actively managed Allocation Global Moderately Aggressive Allocation fund. Victory Capital Management Inc. launched the fund in 2012.

The investment seeks capital appreciation over the long term; the fund also considers the potential for current income. The fund invests in equity securities, bonds, money market instruments, and other instruments including derivatives. It has a target asset class allocation of approximately 80% equity securities and 20% fixed-income securities. The actual asset class allocation can deviate from time to time from these targets as market conditions warrant. The implementation of the asset allocation may involve the extensive use of equity and fixed-income ETFs. The fund also may invest in investment-grade and below-investment-grade fixed-income securities.

About Victory Cornerstone Aggressive (UCAGX)

There are 3 members of the management team with an average tenure of 7.34 years: Mannik Dhillon (2019), Lance Humphrey (2016), Lela Dunlap (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 7 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100%, Bloomberg US Treasury Bill 1-3 M TR USD index with a weighting of 2%, MSCI USA IMI GR USD index with a weighting of 46%, MSCI ACWI Ex USA IMI NR USD index with a weighting of 30%, MSCI US REIT GR USD index with a weighting of 2%, Bloomberg US Universal TR USD index with a weighting of 18% and Bloomberg Commodity TR USD index with a weighting of 2%. Victory Cornerstone Aggressive has 385 securities in its portfolio. The top 10 holdings constitute 43.4% 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 Cornerstone Aggressive is part of the Allocation global asset class and is within the Allocation fund group. Victory Cornerstone Aggressive has 32.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 50.8%. There is 31.6% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 15.6% (14.6% domestic bond, 1.1% foreign bond and 0.0% convertible bond). Victory Cornerstone Aggressive has 1.0% of the portfolio in cash.

Assets Under Management

The fund has $477 million in total assets, which is below the $1 billion average for the Global Moderately Aggressive Allocation 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.

UCAGX 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 Cornerstone Aggressive expense ratio is high compared to funds in the Global Moderately Aggressive Allocation category. Victory Cornerstone Aggressive has an expense ratio of 1.20%, which is 20% 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 Cornerstone Aggressive has a portfolio turnover rate of 79%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 33% for the Global Moderately Aggressive Allocation category.

Recently, in the month of June 2026, Victory Cornerstone Aggressive returned 1.0%, which earned it a grade of A, as the Global Moderately Aggressive Allocation category had an average return of 0.1%. 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 Cornerstone Aggressive has a trailing yield of 1.14%, which is below the 2.00% 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 Cornerstone Aggressive Grades

Year to date, the fund has returned 10.9%, 1.3 percentage points better than the category, which translates into a grade of B. The fund has returned 22.0% over the past year (grade of A), 15.7% over the past three years (grade of B) and 8.7% per year over the past five years (grade of B) and 9.4% per year over the past 10 years (grade of C).

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