Fund Evaluator:
Victory International Institutional (UIIFX)
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Best Performing in Foreign Large Blend Over the Last Year
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Fund Details
Victory International Institutional Overview
Victory International Institutional (UIIFX) is an actively managed International Equity Foreign Large Blend fund. Victory Capital Management Inc. launched the fund in 2008.
The investment seeks capital appreciation. Under normal circumstances, the fund invests at least 80% of its assets in equity securities of foreign (including emerging markets) companies. It will normally invest its assets in investments that are tied economically to a number of countries throughout the world.
About Victory International Institutional (UIIFX)
There are 10 members of the management team with an average tenure of 5.96 years: Jeffrey Sullivan (2019), Andrew Corry (2015), James Shakin (2015), U-Wen Kok (2019), Mannik Dhillon (2019), Keith White (2026), Adam Mezan (2019), Peter Carpenter (2019), Tarit Rao-Chakravorti (2026), Tyler J. Brown (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and Lipper International Fund index with a weighting of 100%. Victory International Institutional has 418 securities in its portfolio. The top 10 holdings constitute 15.3% 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 International Institutional is part of the Equity global asset class and is within the International Equity fund group. Victory International Institutional has 98.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.0%. There is 98.2% 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 International Institutional has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $958 million in total assets, which is below the $2 billion average for the Foreign 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.
UIIFX 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 International Institutional expense ratio is high compared to funds in the Foreign Large Blend category. Victory International Institutional has an expense ratio of 1.00%, which is 6% 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. A portfolio turnover rate cannot be currently calculated for Victory International Institutional. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.
Recently, in the month of August 2026, Victory International Institutional returned 2.0%, which earned it a grade of C, as the Foreign Large Blend category had an average return of 2.0%. 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 International Institutional has a trailing yield of 1.97%, which is below the 2.13% 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 International Institutional Grades
Year to date, the fund has returned 15.7%, 1.8 percentage points better than the category, which translates into a grade of B. The fund has returned 24.5% over the past year (grade of B), 20.1% over the past three years (grade of B) and 9.9% per year over the past five years (grade of B) and 9.9% per year over the past 10 years (grade of B).
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UIIFX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| UIIFX Return (NAV) | 2.0% | 3.5% | 24.5% | 20.1% | 9.9% | 9.9% |
| UIIFX Grade | C | C | B | B | B | B |
| +/- Category | -0.0% | 0.3% | 2.1% | 1.9% | 1.4% | 0.7% |
| Foreign Large Blend Avg | 2.0% | 3.2% | 22.3% | 18.2% | 8.5% | 9.3% |
| UIIFX Tax Cost Ratio | na | na | 3.3% | 1.9% | 1.8% | 1.9% |
UIIFX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| UIIFX Return (NAV) | 15.7% | 33.3% | 4.9% | 17.5% | -15.8% | 14.9% | 3.3% | 22.9% | -14.0% | 28.2% | 1.9% |
| UIIFX Grade | B | B | C | B | C | A | F | C | B | B | B |
| +/- Category | 1.8% | 2.7% | 0.1% | 1.3% | 0.5% | 4.7% | -8.5% | -0.0% | 1.2% | 1.8% | 0.9% |
| Foreign Large Blend Avg | 13.9% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 12.5% |
| Total Risk Index: | 1.03 - Average |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (58% Rank) |
| Beta: | 0.89 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2523 Mil |
| Fund Total Assets: | $ 958 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 10 | |||
| Longest Tenure: 11.0 years | |||
| Average Tenure: 6.0 years | |||
| Managers (Year): Corry Andrew (2015), Shakin James (2015), Kok U-Wen (2019), Dhillon Mannik (2019), Mezan Adam (2019), Carpenter Peter (2019), Sullivan Jeffrey (2019), Rao-Chakravorti Tarit (2026), J. Brown Tyler (2026), White Keith (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 418 |
| % in Top 10 Holdings: | 15.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.2% |
Portfolio Allocation |
|
| Domestic Stock: | 1.0% |
| Foreign Stock: | 98.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | Victory Capital Management Inc. |
| Phone Number: | 800-235-8396 |
| Website: | www.usaa.com |
| Status: | Open |
| Inception Date: | August 1, 2008 |
| Min. Initial Purchase: | $1,000,000 |
| 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 (%): | 1.00% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Victory International |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
