Victory
Floating Rate Fund | ||||||
|
Class
A |
Class
C |
Class
I |
Class
R |
Class
R6 |
Class
Y |
|
RSFLX |
RSFCX |
— |
— |
— |
RSFYX |
Victory
High Income Municipal Bond Fund | ||||||
|
Class
A |
Class
C |
Class
I |
Class
R |
Class
R6 |
Class
Y |
|
RSHMX |
RSHCX |
— |
— |
— |
RHMYX |
Victory
High Yield Fund | ||||||
|
Class
A |
Class
C |
Class
I |
Class
R |
Class
R6 |
Class
Y |
|
GUHYX |
RHYCX |
— |
RHYKX |
— |
RSYYX |
Victory
Tax-Exempt Fund | ||||||
|
Class
A |
Class
C |
Class
I |
Class
R |
Class
R6 |
Class
Y |
|
GUTEX |
RETCX |
— |
— |
— |
RSTYX |
Victory
Low Duration Bond Fund
(formerly
Victory INCORE Low Duration Bond Fund) | ||||||
|
Class
A |
Class
C |
Class
I |
Class
R |
Class
R6 |
Class
Y |
|
RLDAX |
RLDCX |
— |
— |
— |
RSDYX |
|
Class
A |
Class
C |
Class
Y |
Maximum
Sales Charge (Load) Imposed on Purchases
(as
a percentage of offering price) |
|
|
|
Maximum
Deferred Sales Charge (Load)
(as
a percentage of the lower of purchase or sale price) |
|
|
|
Management
Fees |
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
Other
Expenses |
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
Fee
Waiver/Expense Reimbursement3
|
( |
( |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and/or
Expense
Reimbursement3
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
Y |
$ |
$ |
$ |
$ |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
C |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
CLASS
A Before Taxes |
|
|
|
CLASS
A After Taxes on Distributions |
|
|
|
CLASS
A After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
CLASS
C Before Taxes |
|
|
|
CLASS
Y Before Taxes |
|
|
|
Indices | |||
Bloomberg
U.S. Aggregate Bond Index
reflects
no deduction for fees, expenses, or taxes1
|
|
|
|
Morningstar
LSTA US Leveraged Loan Index
reflects
no deduction for fees, expenses, or taxes |
|
|
|
|
Title
|
Tenure
with the Fund
|
John
Blaney, CFA |
Portfolio
Manager, Park Avenue |
Since
2013 |
Andrew
Liggio |
Portfolio
Manager, Park Avenue |
Since
2021 |
Investment
Minimums |
Class
A |
Class
C |
Class
Y |
Minimum
Initial Investment |
$2,500 |
$2,500 |
$1,000,000 |
Minimum
Subsequent Investments |
$50 |
$50 |
None |
|
Class
A |
Class
C |
Class
Y |
Maximum
Sales Charge (Load) Imposed on Purchases
(as
a percentage of offering price) |
|
|
|
Maximum
Deferred Sales Charge (Load)
(as
a percentage of the lower of purchase or sale price) |
|
|
|
Management
Fees |
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
Other
Expenses |
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
Fee
Waiver/Expense Reimbursement3
|
( |
( |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and/or
Expense
Reimbursement3
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
Y |
$ |
$ |
$ |
$ |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
C |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
CLASS
A Before Taxes |
|
|
|
CLASS
A After Taxes on Distributions |
|
|
|
CLASS
A After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
CLASS
C Before Taxes |
|
|
|
CLASS
Y Before Taxes |
|
|
|
Indices | |||
Bloomberg
Municipal Bond Index
reflects
no deduction for fees, expenses, or taxes |
|
|
|
Bloomberg
High Yield Municipal Bond Index
reflects
no deduction for fees, expenses, or taxes |
|
|
|
|
Title
|
Tenure
with the Fund
|
Andrew
Hattman, CFA, CAIA |
Senior
Portfolio Manager and
Head of
Municipal Bond Portfolio
Management |
Since
2020 |
Lauren
Spalten |
Portfolio
Manager |
Since
2021 |
Investment
Minimums |
Class
A |
Class
C |
Class
Y |
Minimum
Initial Investment |
$2,500 |
$2,500 |
$1,000,000 |
Minimum
Subsequent Investments |
$50 |
$50 |
None |
|
Class
A |
Class
C |
Class
R |
Class
Y |
Maximum
Sales Charge (Load) Imposed on Purchases
(as
a percentage of offering price) |
|
|
|
|
Maximum
Deferred Sales Charge (Load)
(as
a percentage of the lower of purchase or sale price) |
|
|
|
|
Management
Fees |
|
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
|
Other
Expenses |
|
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
|
Fee
Waiver/Expense Reimbursement3
|
( |
( |
|
( |
Total
Annual Fund Operating Expenses After Fee Waiver
and/or
Expense Reimbursement3
|
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
R |
$ |
$ |
$ |
$ |
Class
Y |
$ |
$ |
$ |
$ |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
C |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
CLASS
A Before Taxes |
|
|
|
CLASS
A After Taxes on Distributions |
|
|
|
CLASS
A After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
CLASS
C Before Taxes |
|
|
|
CLASS
R Before Taxes |
|
|
|
CLASS
Y Before Taxes |
|
|
|
Indices | |||
Bloomberg
U.S. Universal Index
reflects
no deduction for fees, expenses, or taxes1
|
|
|
|
Bloomberg
U.S. Corporate High Yield Bond Index
reflects
no deduction for fees, expenses, or taxes |
|
|
|
|
Title
|
Tenure
with the Fund
|
John
Blaney, CFA |
Portfolio
Manager, Park Avenue |
Since
2015 |
Andrew
Liggio |
Portfolio
Manager, Park Avenue |
Since
2021 |
Investment
Minimums |
Class
A |
Class
C |
Class
R |
Class
Y |
Minimum
Initial Investment |
$2,500 |
$2,500 |
None |
$1,000,000 |
Minimum
Subsequent Investments |
$50 |
$50 |
None |
None |
|
Class
A |
Class
C |
Class
Y |
Maximum
Sales Charge (Load) Imposed on Purchases
(as
a percentage of offering price) |
|
|
|
Maximum
Deferred Sales Charge (Load)
(as
a percentage of the lower of purchase or sale price) |
|
|
|
Management
Fees |
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
Other
Expenses |
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
Fee
Waiver/Expense Reimbursement3
|
( |
( |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and/or
Expense
Reimbursement3
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
Y |
$ |
$ |
$ |
$ |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
C |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
CLASS
A Before Taxes |
|
|
|
CLASS
A After Taxes on Distributions |
|
|
|
CLASS
A After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
CLASS
C Before Taxes |
|
|
|
CLASS
Y Before Taxes |
|
|
|
Index | |||
Bloomberg
Municipal Bond Index
reflects
no deduction for fees, expenses, or taxes |
|
|
|
|
Title
|
Tenure
with the Fund
|
Andrew
Hattman, CFA, CAIA |
Senior
Portfolio Manager and
Head of
Municipal Bond Portfolio
Management |
Since
2020 |
Lauren
Spalten |
Portfolio
Manager |
Since
2021 |
Investment
Minimums |
Class
A |
Class
C |
Class
Y |
Minimum
Initial Investment |
$2,500 |
$2,500 |
$1,000,000 |
Minimum
Subsequent Investments |
$50 |
$50 |
None |
|
Class
A |
Class
C |
Class
Y |
Maximum
Sales Charge (Load) Imposed on Purchases
(as
a percentage of offering price) |
|
|
|
Maximum
Deferred Sales Charge (Load)
(as
a percentage of the lower of purchase or sale price) |
|
|
|
Management
Fees |
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
Other
Expenses |
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
Fee
Waiver/Expense Reimbursement3
|
( |
( |
( |
Total
Annual Fund Operating Expenses After Fee Waiver and/or
Expense
Reimbursement3
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
A |
$ |
$ |
$ |
$ |
Class
C |
$ |
$ |
$ |
$ |
Class
Y |
$ |
$ |
$ |
$ |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
C |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
CLASS
A Before Taxes |
|
|
|
CLASS
A After Taxes on Distributions |
|
|
|
CLASS
A After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
CLASS
C Before Taxes |
|
|
|
CLASS
Y Before Taxes |
|
|
|
Indices | |||
Bloomberg
U.S. Aggregate Bond Index
reflects
no deduction for fees, expenses, or taxes1
|
|
|
|
Bloomberg
U.S. Government/Credit 1-3 Year Bond Index
reflects
no deduction for fees, expenses, or taxes2
|
|
|
|
Bloomberg
U.S. Government 1-3 Year Bond Index
reflects
no deduction for fees, expenses, or taxes |
|
|
|
|
Title |
Tenure
with the Fund |
Brian
W. Smith, CFA, CPA |
Senior
Portfolio Manager |
September
2023 |
Douglas
J. Rollwitz, CFA, CPA |
Portfolio
Manager and Senior
Fixed Income
Research Analyst |
September
2023 |
Zach
Winters, CFA |
Portfolio
Manager and Senior
Fixed Income
Research Analyst |
September
2023 |
Investment
Minimums |
Class
A |
Class
C |
Class
Y |
Minimum
Initial Investment |
$2,500 |
$2,500 |
$1,000,000 |
Minimum
Subsequent Investments |
$50 |
$50 |
None |
Victory
Capital Management Inc., which we refer to as the “Adviser”
throughout
the Prospectus, manages each
Fund. |
If you would
like to receive additional copies of any materials, please call the
Victory Funds
at
800-539-FUND (800-539-3863) or please visit
VictoryFunds.com. |
|
Floating
Rate |
High
Income
Municipal
Bond |
High
Yield |
Tax-
Exempt |
Low
Duration Bond |
Convertible
Securities Risk |
|
|
X |
|
|
Credit
Derivatives Risk |
X |
X |
X |
X |
X |
Debt
Securities Risk |
X |
X |
X |
X |
X |
Derivatives
Risk |
X |
X |
X |
X |
X |
Floating
Rate Loan Risk |
X |
|
X |
|
|
Foreign
Securities Risk |
X |
|
X |
|
X |
General
Market Risk |
X |
X |
X |
X |
X |
High-Yield/Junk
Bond Risk |
X |
X |
X |
X |
X |
Large
Shareholder Risk |
X |
X |
X |
X |
X |
Liquidity
Risk |
X |
X |
X |
X |
X |
Loan
Risk |
X |
|
X |
|
|
Management
Risk |
X |
X |
X |
X |
X |
Mortgage-
and Asset-Backed Securities Risk |
|
|
X |
|
X |
Mortgage
Dollar Roll Risk |
|
|
|
|
X |
Municipal
Obligations Risk |
|
X |
|
X |
|
Reference
Rate Transition Risk |
X |
|
X |
|
|
U.S.
Government Securities Risk |
X |
X |
X |
X |
|
When-Issued,
TBA and Delayed-Delivery Securities
|
|
|
X |
|
X |
An
investment in a
Fund is not a
complete
investment
program. |
Fund |
Advisory
Fee |
Victory
Floating Rate Fund |
0.65% |
Victory
High Income Municipal Bond Fund |
0.50% |
Victory
High Yield Fund |
0.60% |
Victory
Tax-Exempt Fund |
0.50% |
Victory
Low Duration Bond Fund |
0.45% |
All you need
to get started is fill out an
application. |
An
Investment Professional is an investment consultant, salesperson,
financial planner,
investment
adviser, or trust officer who provides you with investment
information.
Your
Investment Professional also can help you decide which share class is best
for you.
Investment
Professionals and other financial intermediaries may charge fees for their
services. |
The
daily NAV is useful to you as a shareholder because the NAV,
multiplied by
the number of Fund shares you own, gives you the value of your
investment. |
NAV= |
Total
Assets - Liabilities |
Number of
Shares Outstanding |
For
historical expense information, see the “Financial Highlights”
at the end of
this Prospectus. |
Your
Investment in the Fund
|
Sales
Charge
as
a % of
Offering
Price
|
Sales
Charge
as
a % of
Your
Investment
|
Up
to $99,999
|
2.25%
|
2.30%
|
$100,000
up to $249,999
|
1.75%
|
1.78%
|
$250,000
and above* |
0.00%
|
0.00% |
There
are several ways you can combine multiple purchases of Class A shares of
the Victory
Funds to take
advantage of reduced sales charges or, in some cases, eliminate sales
charges. |
A Fund
reserves the right to change the criteria for eligible investors
and
the
investment minimums. |
Keep these
addresses handy for purchases, exchanges, or
redemptions. |
BY
REGULAR U.S. MAIL |
Victory
Funds
P.O.
Box 182593
Columbus,
OH 43218-2593 |
BY
OVERNIGHT MAIL |
Use
the following address ONLY for overnight packages:
Victory
Funds
c/o
FIS TA Operations
4249
Easton Way, Suite 400
Columbus,
OH 43219
PHONE:
800-539-FUND (800-539-3863) |
BY
WIRE |
Call
800-539-FUND (800-539-3863) BEFORE wiring money to notify the
Fund
that you intend to purchase shares by wire and to verify wire
instructions. |
BY
TELEPHONE |
800-539-FUND
(800-539-3863) |
ON
THE INTERNET |
VictoryFunds.com |
There may be
limits on the ability to exchange between certain Victory
Funds.
You can
obtain a list of Victory Funds available for exchange by
calling
800-539-FUND
(800-539-3863) or by visiting
VictoryFunds.com |
There are a
number of convenient ways to sell your
shares. |
BY
TELEPHONE |
BY
MAIL |
BY
WIRE |
BY
ACH |
Buying
a dividend. You should
check the Funds' distribution schedule before you invest.
If you buy
shares of a Fund shortly before it makes a distribution,
some of your
investment may come back to you as a taxable
distribution. |
Your
choice of distribution should be set up on the original Account
Application.
If you would
like to change the option you selected, please call 800-539-FUND
(800-539-3863). |
The
tax information in this Prospectus is provided as general information.
You
should review
the more detailed discussion of federal income tax
considerations
in the SAI
and consult your tax adviser regarding the federal, state, local,
or
foreign tax
consequences resulting from your investment in a
Fund. |
|
Notary
Public |
SVP |
MSG |
Change
of name
|
x |
x |
x |
Add/change
banking instructions
|
|
x |
x |
Add/change
beneficiaries
|
x |
x |
x |
Add/change
authorized account traders
|
|
x |
x |
Adding
a Power of Attorney |
x |
x |
x |
Add/change
Trustee
|
x |
x |
x |
Uniform
Transfers to Minors Act/Uniform Gifts to Minors Act custodian
change
|
x |
x |
x |
|
Class
A | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$8.19 |
$9.33 |
$9.34 |
$9.42 |
$9.13 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.76 |
0.48 |
0.36 |
0.49 |
0.55 |
Net
realized and unrealized gains (losses) |
(0.03) |
(1.13) |
—(b) |
(0.08) |
0.29 |
Total
from Investment Activities |
0.73 |
(0.65) |
0.36 |
0.41 |
0.84 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.79) |
(0.49) |
(0.37) |
(0.49) |
(0.55) |
Total
Distributions |
(0.79) |
(0.49) |
(0.37) |
(0.49) |
(0.55) |
Net
Asset Value, End of Period |
$8.13 |
$8.19 |
$9.33 |
$9.34 |
$9.42 |
Total
Return (excludes sales charge)(c) |
9.30% |
(7.01)% |
3.89% |
4.81% |
9.43% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(d) |
1.00% |
1.01%(e) |
1.00% |
1.00% |
1.00% |
Net
Investment Income (Loss) |
9.25% |
5.52% |
3.88% |
5.54% |
5.89% |
Gross
Expenses(d) |
1.12% |
1.11% |
1.12% |
1.17% |
1.17% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$187,617 |
$252,904 |
$349,706 |
$164,864 |
$146,584 |
Portfolio
Turnover(f) |
36% |
35% |
35% |
54% |
35% |
|
Class
C | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$8.20 |
$9.33 |
$9.34 |
$9.42 |
$9.14 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.69 |
0.41 |
0.29 |
0.43 |
0.48 |
Net
realized and unrealized gains (losses) |
(0.04) |
(1.12) |
(0.01) |
(0.09) |
0.28 |
Total
from Investment Activities |
0.65 |
(0.71) |
0.28 |
0.34 |
0.76 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.72) |
(0.42) |
(0.29) |
(0.42) |
(0.48) |
Total
Distributions |
(0.72) |
(0.42) |
(0.29) |
(0.42) |
(0.48) |
Net
Asset Value, End of Period |
$8.13 |
$8.20 |
$9.33 |
$9.34 |
$9.42 |
Total
Return (excludes contingent deferred
sales
charge)(b) |
8.30% |
(7.66)% |
3.05% |
3.96% |
8.49% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
1.80% |
1.81%(d) |
1.80% |
1.80% |
1.80% |
Net
Investment Income (Loss) |
8.44% |
4.73% |
3.09% |
4.81% |
5.08% |
Gross
Expenses(c) |
1.88% |
1.87% |
1.89% |
1.94% |
1.92% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$42,099 |
$58,606 |
$81,109 |
$94,885 |
$149,054 |
Portfolio
Turnover(e) |
36% |
35% |
35% |
54% |
35% |
|
Class
Y | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$8.20 |
$9.33 |
$9.35 |
$9.43 |
$9.14 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.77 |
0.49 |
0.38 |
0.51 |
0.57 |
Net
realized and unrealized gains (losses) |
(0.03) |
(1.11) |
(0.01) |
(0.08) |
0.29 |
Total
from Investment Activities |
0.74 |
(0.62) |
0.37 |
0.43 |
0.86 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.81) |
(0.51) |
(0.39) |
(0.51) |
(0.57) |
Total
Distributions |
(0.81) |
(0.51) |
(0.39) |
(0.51) |
(0.57) |
Net
Asset Value, End of Period |
$8.13 |
$8.20 |
$9.33 |
$9.35 |
$9.43 |
Total
Return(b) |
9.42% |
(6.69)% |
4.01% |
5.03% |
9.65% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.78% |
0.79%(d) |
0.78% |
0.78% |
0.78% |
Net
Investment Income (Loss) |
9.45% |
5.58% |
4.08% |
5.73% |
6.10% |
Gross
Expenses(c) |
0.86% |
0.85% |
0.86% |
0.93% |
0.92% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$518,827 |
$939,244 |
$1,768,900 |
$403,852 |
$289,796 |
Portfolio
Turnover(e) |
36% |
35% |
35% |
54% |
35% |
|
Class
A | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$9.07 |
$11.09 |
$10.84 |
$10.75 |
$10.39 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.37 |
0.36 |
0.36 |
0.42 |
0.35 |
Net
realized and unrealized gains (losses) |
0.29 |
(1.95) |
0.27 |
0.15 |
0.47 |
Total
from Investment Activities |
0.66 |
(1.59) |
0.63 |
0.57 |
0.82 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.40) |
(0.40) |
(0.38) |
(0.39) |
(0.40) |
Net
realized gains |
— |
(0.03) |
— |
(0.09) |
(0.06) |
Total
Distributions |
(0.40) |
(0.43) |
(0.38) |
(0.48) |
(0.46) |
Net
Asset Value, End of Period |
$9.33 |
$9.07 |
$11.09 |
$10.84 |
$10.75 |
Total
Return (excludes sales charge)(b) |
7.41% |
(14.48)% |
5.91% |
5.52% |
8.04% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.80%(d) |
0.80% |
0.80% |
0.80% |
0.80% |
Net
Investment Income (Loss) |
4.08% |
3.74% |
3.22% |
3.95% |
3.27% |
Gross
Expenses(c) |
1.13%(d) |
1.04% |
1.04% |
1.10% |
1.09% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$18,357 |
$21,747 |
$34,352 |
$26,330 |
$19,153 |
Portfolio
Turnover(e) |
11% |
23% |
19% |
74% |
49% |
|
Class
C | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$9.07 |
$11.09 |
$10.84 |
$10.75 |
$10.39 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.30 |
0.29 |
0.28 |
0.33 |
0.28 |
Net
realized and unrealized gains (losses) |
0.28 |
(1.96) |
0.27 |
0.16 |
0.46 |
Total
from Investment Activities |
0.58 |
(1.67) |
0.55 |
0.49 |
0.74 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.33) |
(0.32) |
(0.30) |
(0.31) |
(0.32) |
Net
realized gains |
— |
(0.03) |
— |
(0.09) |
(0.06) |
Total
Distributions |
(0.33) |
(0.35) |
(0.30) |
(0.40) |
(0.38) |
Net
Asset Value, End of Period |
$9.32 |
$9.07 |
$11.09 |
$10.84 |
$10.75 |
Total
Return (excludes contingent deferred
sales
charge)(b) |
6.59% |
(15.14)% |
5.12% |
4.72% |
7.22% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
1.57%(d) |
1.57% |
1.57% |
1.57% |
1.57% |
Net
Investment Income (Loss) |
3.30% |
2.94% |
2.50% |
3.11% |
2.61% |
Gross
Expenses(c) |
3.14%(d) |
2.56% |
2.20% |
1.90% |
1.85% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$475 |
$1,259 |
$2,192 |
$9,378 |
$13,995 |
Portfolio
Turnover(e) |
11% |
23% |
19% |
74% |
49% |
|
Class
Y | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$9.07 |
$11.09 |
$10.84 |
$10.75 |
$10.39 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.39 |
0.38 |
0.38 |
0.44 |
0.38 |
Net
realized and unrealized gains (losses) |
0.29 |
(1.95) |
0.28 |
0.16 |
0.47 |
Total
from Investment Activities |
0.68 |
(1.57) |
0.66 |
0.60 |
0.85 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.42) |
(0.42) |
(0.41) |
(0.42) |
(0.43) |
Net
realized gains |
— |
(0.03) |
— |
(0.09) |
(0.06) |
Total
Distributions |
(0.42) |
(0.45) |
(0.41) |
(0.51) |
(0.49) |
Net
Asset Value, End of Period |
$9.33 |
$9.07 |
$11.09 |
$10.84 |
$10.75 |
Total
Return(b) |
7.77% |
(14.29)% |
6.16% |
5.76% |
8.29% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.57%(d) |
0.57% |
0.57% |
0.57% |
0.57% |
Net
Investment Income (Loss) |
4.31% |
3.94% |
3.40% |
4.14% |
3.56% |
Gross
Expenses(c) |
0.89%(d) |
0.87% |
0.85% |
0.93% |
0.88% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$14,528 |
$12,548 |
$14,087 |
$9,682 |
$10,620 |
Portfolio
Turnover(e) |
11% |
23% |
19% |
74% |
49% |
|
Class
A | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$5.26 |
$6.79 |
$6.83 |
$6.73 |
$6.20 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.42 |
0.40 |
0.36 |
0.37 |
0.37 |
Net
realized and unrealized gains (losses) |
0.17 |
(1.52) |
(0.03) |
0.10 |
0.54 |
Total
from Investment Activities |
0.59 |
(1.12) |
0.33 |
0.47 |
0.91 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.45) |
(0.41) |
(0.37) |
(0.37) |
(0.38) |
Total
Distributions |
(0.45) |
(0.41) |
(0.37) |
(0.37) |
(0.38) |
Net
Asset Value, End of Period |
$5.40 |
$5.26 |
$6.79 |
$6.83 |
$6.73 |
Total
Return (excludes sales charge)(b) |
11.69% |
(16.87)% |
4.86% |
7.61% |
14.90% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
1.00% |
1.00% |
1.00% |
1.00% |
1.00% |
Net
Investment Income (Loss) |
7.88% |
6.68% |
5.22% |
5.85% |
5.70% |
Gross
Expenses(c) |
1.09% |
1.08% |
1.08% |
1.12% |
1.12% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$28,258 |
$28,508 |
$49,271 |
$38,735 |
$31,602 |
Portfolio
Turnover(d) |
46% |
47% |
67% |
124% |
87% |
|
Class
C | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$5.28 |
$6.81 |
$6.85 |
$6.75 |
$6.21 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.38 |
0.36 |
0.31 |
0.33 |
0.33 |
Net
realized and unrealized gains (losses) |
0.17 |
(1.52) |
(0.03) |
0.10 |
0.54 |
Total
from Investment Activities |
0.55 |
(1.16) |
0.28 |
0.43 |
0.87 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.41) |
(0.37) |
(0.32) |
(0.33) |
(0.33) |
Total
Distributions |
(0.41) |
(0.37) |
(0.32) |
(0.33) |
(0.33) |
Net
Asset Value, End of Period |
$5.42 |
$5.28 |
$6.81 |
$6.85 |
$6.75 |
Total
Return (excludes contingent deferred
sales
charge)(b) |
10.87% |
(17.41)% |
4.11% |
6.84% |
14.24% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
1.70% |
1.70% |
1.70% |
1.70% |
1.70% |
Net
Investment Income (Loss) |
7.16% |
6.03% |
4.51% |
5.14% |
5.00% |
Gross
Expenses(c) |
1.81% |
1.80% |
1.78% |
1.81% |
1.82% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$22,618 |
$23,976 |
$32,889 |
$25,957 |
$21,163 |
Portfolio
Turnover(d) |
46% |
47% |
67% |
124% |
87% |
|
Class
R | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$5.28 |
$6.81 |
$6.85 |
$6.75 |
$6.22 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.40 |
0.38 |
0.34 |
0.35 |
0.35 |
Net
realized and unrealized gains (losses) |
0.17 |
(1.52) |
(0.03) |
0.10 |
0.53 |
Total
from Investment Activities |
0.57 |
(1.14) |
0.31 |
0.45 |
0.88 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.43) |
(0.39) |
(0.35) |
(0.35) |
(0.35) |
Total
Distributions |
(0.43) |
(0.39) |
(0.35) |
(0.35) |
(0.35) |
Net
Asset Value, End of Period |
$5.42 |
$5.28 |
$6.81 |
$6.85 |
$6.75 |
Total
Return(b) |
11.29% |
(17.07)% |
4.55% |
7.24% |
14.48% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
1.31% |
1.29% |
1.28% |
1.33% |
1.33% |
Net
Investment Income (Loss) |
7.53% |
6.46% |
4.93% |
5.51% |
5.37% |
Gross
Expenses(c) |
1.31% |
1.29% |
1.28% |
1.33% |
1.33% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$16,109 |
$15,267 |
$19,243 |
$19,248 |
$18,818 |
Portfolio
Turnover(d) |
46% |
47% |
67% |
124% |
87% |
|
Class
Y | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$5.24 |
$6.76 |
$6.80 |
$6.70 |
$6.17 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.43 |
0.41 |
0.38 |
0.39 |
0.39 |
Net
realized and unrealized gains (losses) |
0.17 |
(1.51) |
(0.04) |
0.10 |
0.53 |
Total
from Investment Activities |
0.60 |
(1.10) |
0.34 |
0.49 |
0.92 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.46) |
(0.42) |
(0.38) |
(0.39) |
(0.39) |
Total
Distributions |
(0.46) |
(0.42) |
(0.38) |
(0.39) |
(0.39) |
Net
Asset Value, End of Period |
$5.38 |
$5.24 |
$6.76 |
$6.80 |
$6.70 |
Total
Return(b) |
12.02% |
(16.58)% |
5.15% |
7.88% |
15.25% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.76% |
0.76% |
0.76% |
0.76% |
0.76% |
Net
Investment Income (Loss) |
8.21% |
7.00% |
5.49% |
6.11% |
5.96% |
Gross
Expenses(c) |
0.89% |
0.86% |
0.84% |
0.90% |
0.92% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$110,624 |
$177,376 |
$237,385 |
$168,677 |
$108,171 |
Portfolio
Turnover(d) |
46% |
47% |
67% |
124% |
87% |
|
Class
A | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$8.27 |
$9.78 |
$9.94 |
$9.84 |
$9.47 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.28 |
0.27 |
0.27 |
0.29 |
0.30 |
Net
realized and unrealized gains (losses) |
0.28 |
(1.41) |
0.12 |
0.23 |
0.53 |
Total
from Investment Activities |
0.56 |
(1.14) |
0.39 |
0.52 |
0.83 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.32) |
(0.31) |
(0.32) |
(0.32) |
(0.34) |
Net
realized gains |
— |
(0.06) |
(0.23) |
(0.10) |
(0.12) |
Total
Distributions |
(0.32) |
(0.37) |
(0.55) |
(0.42) |
(0.46) |
Net
Asset Value, End of Period |
$8.51 |
$8.27 |
$9.78 |
$9.94 |
$9.84 |
Total
Return (excludes sales charge)(b) |
6.89% |
(11.70)% |
3.94% |
5.39% |
8.82% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.80%(d) |
0.80% |
0.80% |
0.80% |
0.80% |
Net
Investment Income (Loss) |
3.44% |
3.08% |
2.74% |
3.00% |
3.04% |
Gross
Expenses(c) |
1.12%(d) |
1.07% |
1.03% |
1.04% |
1.02% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$25,328 |
$24,745 |
$35,312 |
$32,001 |
$30,251 |
Portfolio
Turnover(e) |
15% |
13% |
6% |
44% |
64% |
|
Class
C | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$8.27 |
$9.78 |
$9.94 |
$9.84 |
$9.47 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.22 |
0.20 |
0.20 |
0.22 |
0.23 |
Net
realized and unrealized gains (losses) |
0.27 |
(1.41) |
0.11 |
0.22 |
0.52 |
Total
from Investment Activities |
0.49 |
(1.21) |
0.31 |
0.44 |
0.75 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.26) |
(0.24) |
(0.24) |
(0.24) |
(0.26) |
Net
realized gains |
— |
(0.06) |
(0.23) |
(0.10) |
(0.12) |
Total
Distributions |
(0.26) |
(0.30) |
(0.47) |
(0.34) |
(0.38) |
Net
Asset Value, End of Period |
$8.50 |
$8.27 |
$9.78 |
$9.94 |
$9.84 |
Total
Return (excludes contingent deferred
sales
charge)(b) |
6.05% |
(12.40)% |
3.13% |
4.56% |
7.97% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
1.60%(d) |
1.60% |
1.60% |
1.60% |
1.60% |
Net
Investment Income (Loss) |
2.64% |
2.23% |
2.01% |
2.28% |
2.34% |
Gross
Expenses(c) |
3.23%(d) |
2.58% |
2.38% |
1.91% |
1.82% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$707 |
$927 |
$2,037 |
$6,497 |
$11,259 |
Portfolio
Turnover(e) |
15% |
13% |
6% |
44% |
64% |
|
Class
Y | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$8.27 |
$9.78 |
$9.94 |
$9.84 |
$9.46 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.29 |
0.28 |
0.29 |
0.30 |
0.30 |
Net
realized and unrealized gains (losses) |
0.27 |
(1.41) |
0.11 |
0.23 |
0.55 |
Total
from Investment Activities |
0.56 |
(1.13) |
0.40 |
0.53 |
0.85 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.33) |
(0.32) |
(0.33) |
(0.33) |
(0.35) |
Net
realized gains |
— |
(0.06) |
(0.23) |
(0.10) |
(0.12) |
Total
Distributions |
(0.33) |
(0.38) |
(0.56) |
(0.43) |
(0.47) |
Net
Asset Value, End of Period |
$8.50 |
$8.27 |
$9.78 |
$9.94 |
$9.84 |
Total
Return(b) |
7.01% |
(11.60)% |
4.06% |
5.51% |
9.06% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.69%(d) |
0.69% |
0.69% |
0.69% |
0.69% |
Net
Investment Income (Loss) |
3.55% |
3.19% |
2.85% |
3.12% |
3.07% |
Gross
Expenses(c) |
0.98%(d) |
0.87% |
0.89% |
0.85% |
0.83% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$10,348 |
$10,826 |
$13,969 |
$22,998 |
$24,459 |
Portfolio
Turnover(e) |
15% |
13% |
6% |
44% |
64% |
|
Class
A | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$9.64 |
$10.16 |
$10.20 |
$9.99 |
$9.86 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.24 |
0.12 |
0.09 |
0.14 |
0.19 |
Net
realized and unrealized gains (losses) |
0.20 |
(0.49) |
(0.02) |
0.24 |
0.15 |
Total
from Investment Activities |
0.44 |
(0.37) |
0.07 |
0.38 |
0.34 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.28) |
(0.15) |
(0.11) |
(0.14) |
(0.20) |
Return
of capital |
— |
— |
— |
(0.03) |
(0.01) |
Total
Distributions |
(0.28) |
(0.15) |
(0.11) |
(0.17) |
(0.21) |
Net
Asset Value, End of Period |
$9.80 |
$9.64 |
$10.16 |
$10.20 |
$9.99 |
Total
Return (excludes sales charge)(b) |
4.65% |
(3.62)% |
0.71% |
3.85% |
3.51% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.85% |
0.85% |
0.85% |
0.85% |
0.85% |
Net
Investment Income (Loss) |
2.52% |
1.18% |
0.87% |
1.39% |
1.93% |
Gross
Expenses(c) |
0.96% |
0.96% |
0.95% |
0.95% |
0.95% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$54,266 |
$70,419 |
$76,901 |
$70,357 |
$61,972 |
Portfolio
Turnover(d) |
58% |
81% |
58% |
85% |
50% |
|
Class
C | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$9.65 |
$10.16 |
$10.20 |
$9.99 |
$9.85 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.17 |
0.04 |
0.01 |
0.08 |
0.12 |
Net
realized and unrealized gains (losses) |
0.20 |
(0.47) |
(0.02) |
0.22 |
0.16 |
Total
from Investment Activities |
0.37 |
(0.43) |
(0.01) |
0.30 |
0.28 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.21) |
(0.08) |
(0.03) |
(0.07) |
(0.14) |
Return
of capital |
— |
— |
— |
(0.02) |
—(b) |
Total
Distributions |
(0.21) |
(0.08) |
(0.03) |
(0.09) |
(0.14) |
Net
Asset Value, End of Period |
$9.81 |
$9.65 |
$10.16 |
$10.20 |
$9.99 |
Total
Return (excludes contingent deferred
sales
charge)(c) |
3.85% |
(4.26)% |
(0.07)% |
3.05% |
2.81% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(d) |
1.62% |
1.62% |
1.62% |
1.62% |
1.62% |
Net
Investment Income (Loss) |
1.74% |
0.37% |
0.10% |
0.76% |
1.17% |
Gross
Expenses(d) |
2.04% |
1.91% |
1.91% |
1.72% |
1.70% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$2,307 |
$3,841 |
$5,528 |
$23,504 |
$38,969 |
Portfolio
Turnover(e) |
58% |
81% |
58% |
85% |
50% |
|
Class
Y | ||||
|
Year
Ended
12/31/23 |
Year
Ended
12/31/22 |
Year
Ended
12/31/21 |
Year
Ended
12/31/20 |
Year
Ended
12/31/19 |
Net
Asset Value, Beginning of Period |
$9.65 |
$10.16 |
$10.20 |
$9.99 |
$9.86 |
Investment
Activities: |
|
|
|
|
|
Net
investment income (loss)(a) |
0.27 |
0.14 |
0.11 |
0.17 |
0.21 |
Net
realized and unrealized gains (losses) |
0.19 |
(0.47) |
(0.01) |
0.23 |
0.16 |
Total
from Investment Activities |
0.46 |
(0.33) |
0.10 |
0.40 |
0.37 |
Distributions
to Shareholders from: |
|
|
|
|
|
Net
investment income |
(0.30) |
(0.18) |
(0.14) |
(0.15) |
(0.23) |
Return
of capital |
— |
— |
— |
(0.04) |
(0.01) |
Total
Distributions |
(0.30) |
(0.18) |
(0.14) |
(0.19) |
(0.24) |
Net
Asset Value, End of Period |
$9.81 |
$9.65 |
$10.16 |
$10.20 |
$9.99 |
Total
Return(b) |
4.78% |
(3.30)% |
0.94% |
4.08% |
3.76% |
Ratios
to Average Net Assets: |
|
|
|
|
|
Net
Expenses(c) |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
Net
Investment Income (Loss) |
2.75% |
1.40% |
1.10% |
1.64% |
2.12% |
Gross
Expenses(c) |
0.68% |
0.65% |
0.67% |
0.68% |
0.69% |
Supplemental
Data: |
|
|
|
|
|
Net
Assets at end of period (000's) |
$78,500 |
$105,653 |
$133,644 |
$165,330 |
$164,509 |
Portfolio
Turnover(d) |
58% |
81% |
58% |
85% |
50% |