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Victory RS Small Cap Growth Fund
  • Targeted towards investors looking for dynamic, small-cap companies that exhibit sustainable earnings growth potential that can grow to mid- and large-cap companies managed by a team with proven capabilities in small growth dating back to 1987.
  • The Fund seeks long-term capital growth by investing in innovative small-cap companies that can take market share in their respective industries, allowing for higher and more sustainable earnings growth than the broader market.
  • The team invests at least 80% of the Fund’s assets in small U.S. companies with a market cap of less than $3 billion or 120% of the market cap of the largest company in the Russell 2000® Index utilizing a research-intensive approach with stringent risk management criteria.

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Past performance does not guarantee future results. The performance quoted represents past performance and current performance may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost.

Returns include reinvestment of dividends and capital gains. Performance for periods greater than one year is annualized.

Class A Shares at load reflect a maximum sales charge of 5.75%.

Class C Shares are not subject to an initial sales charge, but are subject to a deferred sales charge of 1.00% on shares redeemed within the first year. Class C at load for periods less than 1 year reflect the effect of the 1.00% CDSC.

Fee waivers and/or expense reimbursements were in place for some or all periods shown, without which, fund performance would have been lower.

Net expense ratio reflects the contractual waiver and/or reimbursement of management fees through April 30, 2025.

High, double-digit returns are highly unusual and cannot be sustained. Investors should be aware that these returns were primarily achieved during favorable market conditions. 

Calendar year returns are shown at NAV.

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Risk Measures

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Top 10 Holdings

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Holdings are subject to change and should not be considered purchase recommendations.

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Characteristics

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Sector Diversification

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Asset Allocation

Fees and Expenses

We are committed to being fully transparent about fees and expenses, enabling investors to make informed decisions.

Annual Fund Operating Expenses of the member shares of the Fund are listed below. The Expense Calculator is provided to help you assess the impact of operating expenses on the Fund’s potential returns.  The calculator allows you to assume that you have made a hypothetical investment of any amount for a 10-year period, and that your investment earns a 5% return each year. The example assumes that the Fund’s net operating expenses through Year 1 and 2 are the same as those shown in the Annual Fund Operating Expenses table of the Fund’s Prospectus under “Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement” and, for all subsequent periods are the same as those shown under “Total Annual Fund Operating Expenses.” The example reflects the impact of sales loads where applicable. Based on these assumptions, the calculator shows, for each year and cumulatively for all 10 years, (1) the fees and the costs (the “Expenses”) associated with your investment and (2) the difference (the “Dollar Impact on Return”) between your return if the Fund had not incurred the Expenses and your return after giving effect to the Expenses. Your actual costs may be higher or lower.

Fees and Expenses

We are committed to being fully transparent about fees and expenses, enabling investors to make informed decisions.

Annual Fund Operating Expenses of the Class A, R, R6, Y, and member shares of the Fund (as applicable) are listed below.  (Use the button at the top of this page to select the share class you wish to view.)  The Expense Calculator allows you to assume that you have made a hypothetical investment of any amount for a 10-year period, and that your investment earns a 5% return each year. The example assumes that the Fund’s net operating expenses through Year 1 and 2 are the same as those shown in the Annual Fund Operating Expenses table of the Fund’s Prospectus under “Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement” and, for all subsequent periods are the same as those shown under “Total Annual Fund Operating Expenses.” The example reflects the impact of sales loads where applicable. Based on these assumptions, the calculator shows, for each year and cumulatively for all 10 years, (1) the fees and the costs (the “Expenses”) associated with your investment and (2) the difference (the “Dollar Impact on Return”) between your return if the Fund had not incurred the Expenses and your return after giving effect to the Expenses. Your actual costs may be higher or lower.

Annual Fund Operating Expense

Amount Invested($)

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Minimum Investment

Investment Approach 

 

The RS Growth Team seeks to deliver long-term capital growth through a disciplined, research-intensive approach that discovers and invests in dynamic, small-cap companies exhibiting sustainable earnings growth potential that can grow to mid- and large-cap companies. 

 

Philosophy and Process 

 

  • Emphasize innovation – Search for pioneering, disruptive businesses that we believe can change an industry to drive sustainable earnings growth over time. 
  • Focus on the long term– Highlight companies that are aligned with the team’s fundamental beliefs and that rank highly on key quantitative metrics. 
  • Manage risk– Seek an attractive risk/reward profile at the time of purchase and deploy a three-stage risk management screen on all holdings to help mitigate the negative impact of any single position. 

 

Management Team

Scott Tracy
Scott Tracy

Chief Investment Officer

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Portfolio Manager

Portfolio Manager

Portfolio Manager

Portfolio Manager

Portfolio Manager
See full team

Carefully consider a fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus or summary prospectus containing this and other important information, visit www.vcm.com/prospectus. Read it carefully before investing.

All investing involves risk, including the potential loss of principal.

Other share classes are available. Not all share classes are available to all investors.

Investments in smaller companies typically exhibit higher volatility.

International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations.

Investments concentrated in an industry or group of industries may face more risks and exhibit higher volatility than investments that are more broadly diversified over industries or sectors.

Information technology companies are particularly vulnerable to rapid changes in technological product cycles, severe competition and government regulation.

The profitability of companies in the healthcare sector may be affected by government regulations and healthcare programs, fluctuations in the cost of, and demand for, medical products and services and product liability claims.

Investments in companies in the industrials sector may be adversely affected by changes in supply and demand for products and services, governmental regulation and changes spending policies, world events and economic conditions.

The Fund may frequently change its holdings, resulting in higher fees, lower returns, and more capital gains.

The value of your investment is also subject to geopolitical risks such as wars, terrorism, environmental disasters, and public health crises; the risk of technology malfunctions or disruptions; and the responses to such events by governments and/or individual companies.

The Russell 2000® Growth Index is a market-capitalization-weighted index that measures the performance of Russell 2000® Index companies with higher price-to-book ratios and forecasted growth values.

Distributed by Victory Capital Services, Inc., an affiliate of Victory Capital Management Inc., the Fund's investment adviser.

©2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar RatingTM for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed- end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Fund performance used for the rankings reflects certain fee waivers, without which, Morningstar rankings would have been lower and Morningstar ratings may have been lower.

Investors should obtain relevant and specific professional advice before making any investment decision. Your use of this site is subject to the Victory Capital Online Agreement.

Not FDIC Insured • May Lose Value • No Bank Guarantee

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©2024 Victory Capital Management Inc.