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Name

As of 04/23/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Victory Emerging Markets Fund (Formerly USAA Emerging Markets Fund)

USEMX | Fund

$20.39

$520 M

1.77%

$0.36

1.56%

Vitals

YTD Return

3.4%

1 yr return

14.4%

3 Yr Avg Return

-4.1%

5 Yr Avg Return

3.4%

Net Assets

$520 M

Holdings in Top 10

26.7%

52 WEEK LOW AND HIGH

$20.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 73.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$3,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Victory Emerging Markets Fund (Formerly USAA Emerging Markets Fund)

USEMX | Fund

$20.39

$520 M

1.77%

$0.36

1.56%

USEMX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return -4.1%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.77%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Victory Emerging Markets Fund (Formerly USAA Emerging Markets Fund)
  • Fund Family Name
    Victory Portfolios III
  • Inception Date
    Jan 09, 1995
  • Shares Outstanding
    N/A
  • Share Class
    Individual
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kevin O'Hare

Fund Description

The Fund normally invests at least 80% of its assets in equity securities of emerging market companies. The “equity securities” in which the Fund principally invests are common stocks, preferred stocks, securities convertible into common stocks, and securities that carry the right to buy common stocks. This 80% policy may be changed upon at least 60 days’ prior written notice to shareholders.
Read More

USEMX - Performance

Return Ranking - Trailing

Period USEMX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -9.6% 11.2% 18.16%
1 Yr 14.4% -9.4% 31.2% 16.69%
3 Yr -4.1%* -24.1% 7.4% 30.12%
5 Yr 3.4%* -7.8% 10.8% 29.59%
10 Yr 2.6%* -3.1% 6.2% 46.46%

* Annualized

Return Ranking - Calendar

Period USEMX Return Category Return Low Category Return High Rank in Category (%)
2023 13.9% -6.5% 35.5% 15.06%
2022 -21.6% -50.1% -2.4% 27.83%
2021 -1.9% -33.1% 22.5% 31.46%
2020 15.5% -22.1% 80.1% 55.18%
2019 22.5% -0.7% 42.0% 25.72%

Total Return Ranking - Trailing

Period USEMX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -9.6% 11.2% 18.16%
1 Yr 14.4% -9.4% 31.2% 16.69%
3 Yr -4.1%* -24.1% 7.4% 30.12%
5 Yr 3.4%* -7.8% 10.8% 29.59%
10 Yr 2.6%* -3.1% 6.2% 46.46%

* Annualized

Total Return Ranking - Calendar

Period USEMX Return Category Return Low Category Return High Rank in Category (%)
2023 16.0% -2.7% 42.0% 20.08%
2022 -20.2% -42.2% 1.9% 30.35%
2021 -1.2% -32.5% 33.1% 49.78%
2020 16.7% -20.0% 81.6% 58.58%
2019 22.9% 2.3% 42.0% 36.42%

NAV & Total Return History

USEMX - Holdings

Concentration Analysis

USEMX Category Low Category High USEMX % Rank
Net Assets 520 M 682 K 103 B 46.38%
Number of Holdings 296 10 7049 21.58%
Net Assets in Top 10 167 M 118 K 19.2 B 45.98%
Weighting of Top 10 26.66% 0.7% 122.2% 70.74%

Top 10 Holdings

  1. TAIWAN SEMICONDUCTOR MANUFACTU 5.68%
  2. SAMSUNG ELECTRONICS CO LTD 5.26%
  3. TENCENT HOLDINGS LTD 3.70%
  4. ICICI BANK LTD 2.73%
  5. GRUPO FINANCIERO BANORTE SAB DE CV 1.95%
  6. ALIBABA GROUP HOLDING LTD 1.78%
  7. MEDIATEK INC 1.58%
  8. PETROLEO BRASILEIRO S A ADR 1.33%
  9. SK HYNIX INC 1.33%
  10. PT BANK MANDIRI PERSERO TBK 1.31%

Asset Allocation

Weighting Return Low Return High USEMX % Rank
Stocks 		82.77% 0.00% 103.65% 97.18%
Cash 		1.77% -2.03% 99.29% 50.40%
Preferred Stocks 		0.00% 0.00% 10.09% 91.96%
Other 		0.00% -1.64% 50.31% 80.03%
Convertible Bonds 		0.00% 0.00% 7.40% 77.19%
Bonds 		0.00% 0.00% 94.30% 80.16%

Stock Sector Breakdown

Weighting Return Low Return High USEMX % Rank
Technology 		25.01% 0.00% 47.50% 35.69%
Financial Services 		22.82% 0.00% 48.86% 42.61%
Basic Materials 		10.36% 0.00% 30.03% 26.05%
Consumer Cyclical 		10.04% 0.00% 48.94% 78.02%
Communication Services 		7.99% 0.00% 39.29% 58.34%
Industrials 		7.27% 0.00% 43.53% 33.11%
Consumer Defense 		4.80% 0.00% 25.90% 75.17%
Energy 		4.76% 0.00% 24.80% 41.52%
Healthcare 		3.44% 0.00% 16.53% 58.62%
Real Estate 		2.45% 0.00% 17.15% 27.95%
Utilities 		1.05% 0.00% 39.12% 52.92%

Stock Geographic Breakdown

Weighting Return Low Return High USEMX % Rank
Non US 		81.46% 0.00% 100.18% 63.00%
US 		1.31% 0.00% 101.58% 91.82%

USEMX - Expenses

Operational Fees

USEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.56% 0.03% 24.48% 36.61%
Management Fee 1.00% 0.00% 2.00% 82.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.85% 78.76%

Sales Fees

USEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

USEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

USEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 73.00% 0.00% 189.00% 73.36%

USEMX - Distributions

Dividend Yield Analysis

USEMX Category Low Category High USEMX % Rank
Dividend Yield 1.77% 0.00% 10.26% 50.27%

Dividend Distribution Analysis

USEMX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

USEMX Category Low Category High USEMX % Rank
Net Income Ratio 0.77% -1.98% 17.62% 47.84%

Capital Gain Distribution Analysis

USEMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

View More +

USEMX - Fund Manager Analysis

Managers

Kevin O'Hare

Start Date

Tenure

Tenure Rank

Oct 16, 2012

9.63

9.6%

Kevin O'Hare is a Portfolio Manager/Analyst on the Developing Markets Equity team, focusing on the technology, health care, telecommunications and consumer discretionary sectors. He began working in the investment field in 1991. Prior to joining Lazard in 2001, Kevin was with Merrill Lynch, and Moore Capital Management. Kevin has an MBA in Finance from St. John's University and a BS in Finance from King's College. Mr. O’Hare is a CFA Charterholder.

James Donald

Start Date

Tenure

Tenure Rank

Oct 16, 2012

9.63

9.6%

James M. Donald, a Managing Director of Lazard Asset Management, is a portfolio manager/analyst on the Investment Manager’s Emerging Markets Equity team and Head of the Emerging Markets Group. Prior to joining the Investment Manager in 1996, Mr. Donald was a portfolio manager with Mercury Asset Management. Mr. Donald is a CFA Charterholder.

Jai Jacob

Start Date

Tenure

Tenure Rank

Oct 16, 2012

9.63

9.6%

Jai Jacob is a Managing Director and Portfolio Manager/Analyst, leading the Lazard Multi-Asset investment team. Prior to joining the Multi-Asset investment team, Jai worked in Global Risk Management, Fixed Income, Quantitative Technology and Settlements. He led the development of Lazard's proprietary Risk Analysis system, and has built quantitative analytical tools for over 40 Lazard investment strategies. Jai began working in the investment field in 1998 upon joining Lazard. He has a BA from Cornell University.

Stephen Marra

Start Date

Tenure

Tenure Rank

Oct 01, 2013

8.67

8.7%

Stephen Marra is a Director and Portfolio Manager/Analyst on the Lazard Multi-Asset investment team, specializing in strategy research. Prior to joining the Multi-Asset investment team, Stephen worked in Settlements, Fixed Income Risk and Quantitative Technology where he helped design and develop Lazard's proprietary trading and risk management systems. He began working in the investment field in 1999 upon joining Lazard. Steve has a BS in Biology from Cornell University.

Robert Cerow

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Robert D. Cerow is an Equity Analyst of Trivalent and has been with the Adviser since 2014. From 2007-2014, Mr. Cerow was an Equity Analyst of Munder Capital Management. Mr. Cerow is a CFA charterholder.

Mannik Dhillon

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Mannik S. Dhillon serves as President of VictoryShares and Solutions for Victory Capital. In his role, he leads and oversees the firms' exchange-traded and solutions business. He is also responsible for setting the strategy and initiating the development and implementation of Victory's strategic beta-based offerings. Additionally, he manages the solutions provided by our investment franchises, which includes product enhancements, extensions and innovations designed to best meet the needs of clients. Mr. Dhillon also contributes to the evaluation of capabilities of potential new franchises as part of the firm's acquisition strategy.

Maria Freund

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Maria Freund is a portfolio manager of Sophus. Ms. Freund joined Victory Capital in 2016 in connection with Victory Capital’s acquisition of RS Investments.Maria Freund has been a portfolio manager since 2015. At RS Investments she was an emerging markets analyst. Prior to joining RS Investments in 2012, she was an analyst at Principal Global Investors for the emerging markets team. Previously, she was an analyst at Principal Global Investors for the international developed team, having joined the firm in 2003. Maria holds a B.A. in finance and international business from Loras College, and an M.B.A from the Tippie College of Business at the University of Iowa. Maria is a CFA Charterholder.

John Evers

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

John W. Evers is a Senior Portfolio Manager of Trivalent and has been with Victory Capital since 2014. From 2007-2014, Mr. Evers was a Senior Portfolio Manager of Munder Capital Management. He has been co-manager for MCM’s international small-cap equity discipline, a member of the portfolio management team for MCM’s international core equity discipline and lead analyst of the financials sector for the international core and international small-cap equity teams since 2007. He has been lead manager and lead analyst of the financials sector for MCM’s emerging markets equity strategy since 2011. Immediately before joining MCM, Mr. Evers was a Senior Vice President and Co-Portfolio Manager for The Boston Company Asset Management (including its predecessor firms), where he was an energy sector analyst and was also responsible for a quantitative research platform and production models for 10 years.

Michael Reynal

Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Michael Reynal is Chief Investment Officer of Sophus Capital and a portfolio manager of Emerging Markets and Emerging Markets Small Cap mandates. Mr. Reynal began his investment career in 1991 managing equity investments in Latin America, the Mediterranean, the Balkans and other regions. Most recently he was a portfolio manager for Principal Global Investors, where he led the emerging markets team. He also oversaw diversified emerging markets portfolios and specialized regional Asian equity strategies.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.54 13.42

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