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Victory Core Plus Intermediate Bond Fund Overview

Victory Core Plus Intermediate Bond Fund (USIBX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Victory Capital Management Inc. launched the fund in 1999.

The investment seeks high current income without undue risk to principal. The fund normally invests at least 80% of its assets in a broad range of debt securities that have a dollar-weighted average portfolio maturity between three to 10 years. It will invest primarily in investment-grade securities, but also may invest up to 10% of its net assets in below-investment-grade securities, which are sometimes referred to as high-yield or "junk" bonds.

About Victory Core Plus Intermediate Bond Fund (USIBX)

There are 4 members of the management team with an average tenure of 9.06 years: R.Neal Graves (2019), Brian Smith (2013), Kurt Daum (2016), Jim Jackson (2019). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Lipper Core Plus Bond Funds index with a weighting of 100%. Victory Core Plus Intermediate Bond Fund has 1390 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 Core Plus Intermediate Bond Fund is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Victory Core Plus Intermediate Bond Fund has 6.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.1% (91.9% domestic bond, 6.2% foreign bond and 0.0% convertible bond). Victory Core Plus Intermediate Bond Fund has 1.4% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond 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.

USIBX 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 Core Plus Intermediate Bond Fund expense ratio is above average compared to funds in the Intermediate Core-Plus Bond category. Victory Core Plus Intermediate Bond Fund has an expense ratio of 0.64%, which is 18% 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 Core Plus Intermediate Bond Fund has a portfolio turnover rate of 51%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 180% for the Intermediate Core-Plus Bond category.

Recently, in the month of June 2026, Victory Core Plus Intermediate Bond Fund returned 0.3%, which earned it a grade of C, as the Intermediate Core-Plus Bond category had an average return of 0.3%. 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 Core Plus Intermediate Bond Fund has a trailing yield of 4.75%, which is above the 4.29% category average. The fund normally distributes its income monthly 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 Core Plus Intermediate Bond Fund Grades

Year to date, the fund has returned 1.0%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 4.1% over the past year (grade of C), 5.0% over the past three years (grade of B) and 0.9% per year over the past five years (grade of A) and 3.0% per year over the past 10 years (grade of A).

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