Fund Evaluator:

Victory Sycamore Established Value I Overview

Victory Sycamore Established Value I (VEVIX) is an actively managed U.S. Equity Mid-Cap Value fund. Victory Capital Management Inc. launched the fund in 2010.

The investment seeks to provide long-term capital growth by investing primarily in common stocks. Under normal circumstances, at least 80% of the fund's assets will be invested in equity securities of companies with market capitalizations, at the time of purchase, within the range of companies comprising the Russell Midcap® Value Index. It may invest a portion of its assets in equity securities of foreign companies traded in the U.S., including American Depositary Receipts and Global Depositary Receipts ("ADRs" and "GDRs").

About Victory Sycamore Established Value I (VEVIX)

There are 4 members of the management team with an average tenure of 19.91 years: James Albers (2012), Michael Rodarte (2012), Gregory Conners (2002), Gary Miller (1998). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. Victory Sycamore Established Value I has 74 securities in its portfolio. The top 10 holdings constitute 20.8% 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 Sycamore Established Value I is part of the Equity global asset class and is within the U.S. Equity fund group. Victory Sycamore Established Value I has 1.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.7%. There is 1.2% 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 Sycamore Established Value I has 2.2% of the portfolio in cash.

Assets Under Management

The fund has $3 billion in total assets, which is above the $642 million average for the Mid-Cap 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.

VEVIX 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 Sycamore Established Value I expense ratio is average compared to funds in the Mid-Cap Value category. Victory Sycamore Established Value I has an expense ratio of 0.58%, which is 44% lower than its category average, making the fund expense ratio grade a A. 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 Sycamore Established Value I has a portfolio turnover rate of 45%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.

Recently, in the month of July 2026, Victory Sycamore Established Value I returned -0.3%, which earned it a grade of D, as the Mid-Cap Value category had an average return of 1.7%. 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 Sycamore Established Value I has a trailing yield of 1.18%, which is above the 0.87% 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 Sycamore Established Value I Grades

Year to date, the fund has returned 14.4%, 1.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 16.4% over the past year (grade of F), 9.7% over the past three years (grade of F) and 8.0% per year over the past five years (grade of D) and 11.1% per year over the past 10 years (grade of B).

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