Victory Trivalent International Small-Cap Fund

Victory Portfolios · 5 share classes

Actively managed developed international equity fund
One fund, 5 share classes:MISAXMCISXMISIXMSSIXMYSIX
$4.68B NAV
238 positions · as of 2026-06-30 · filed 2026-08-26

Fund classification

Classified from what the fund holds · as of 2026 Q2

Victory Trivalent International Small-Cap Fund is an actively managed developed international equity fund.

Asset class
Equity
Region
Developed international
Management
Actively managed
Fund type
Open-end fund

Fund profile

As filed in the prospectus · 2025 Q4

The Victory Trivalent International Small-Cap Fund (the Fund) seeks to provide long-term growth of capital.

Strategy · summarised

The fund invests in small-capitalization equities from developed markets outside the United States, selecting stocks using a bottom-up process that screens for low price-to-earnings ratios, positive earnings momentum, high profitability, and improving responsible investing profiles. The fund's country and sector allocations track the S&P Developed ex-U.S. SmallCap Index, and it normally holds positions across a minimum of 10 countries. Because the fund's returns depend on the success of its individual stock selections, performance may diverge from the Index.

Expenses
0.97% 2.10%across 5 share classes
Share classGrossNet
MISAX1.70%1.35%
MCISX3.49%2.10%
MISIX1.17%0.97%
MSSIX1.02%1.02%
MYSIX1.11%1.10%

Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.

Portfolio turnover 49.00% · as of 2025 Q4

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

101.76%
of net assets
Stocks96.50%
Cash & short-term3.01%
Other2.26%

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 33 new27 exited

Largest new: TAIYO YUDEN CO., LTD., Swissquote Group Holding Ltd, CKD Corporation, SHINSEGAE Inc., UACJ Corporation, TP ICAP GROUP PLC, GLANBIA PUBLIC LIMITED COMPANY, SIG Group AG

Largest exited: Swissquote Group Holding SA, Sanwa Holdings Corporation, BRP Inc., EBARA CORPORATION, ILJIN ELECTRIC CO.,LTD, Hyosung Heavy Industries Corporation, SILICON 2 Co.,Ltd., Netmarble Corporation

Return profile

Chart:

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

Share class1-year3-year5-yearVolWorst fall
+41.80%+74.73%+48.69%18.30%-12.81%
+40.72%+70.80%+43.27%18.28%-13.00%
+42.37%+76.73%+51.70%18.29%-12.74%
+42.36%+76.51%+51.18%18.32%-12.70%
+42.16%+76.01%+50.58%18.30%-12.70%

These classes hold the same portfolio, so the 8.43pp spread over 5 years is the cost difference between them — roughly 1.69pp a year — not a difference in what they own.

Cumulative return· Jul 2023 – Apr 2026

May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.

Debt profile

What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30

Avg coupon
Avg maturity
Flagged holdings
Defaulted: not reported
In arrears: not reported
Paid in kind: not reported

Based on what filers reported; a filer that never reported a flag also reads as none.

Risk profile

Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2

Interest-rate duration
0.00 yr
approx. move per 100bp
Credit-spread duration
Not disclosed

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
DPM Metals Inc.DPMLF1.20%$55.96M
Mitsui Kinzoku Company, Limited1.05%$49.21M
TOKYO OHKA KOGYO CO., LTD.1.00%$46.98M
FINNING INTERNATIONAL INC.FINGF0.94%$43.75M
OceanaGold CorporationOGC0.93%$43.48M
Mebuki Financial Group, Inc.0.91%$42.30M
BE Semiconductor Industries N.V.0.88%$40.89M
BANKINTER, S.A.0.87%$40.69M
TAIYO YUDEN CO., LTD.0.84%$39.36M
IBIDEN CO.,LTD.0.82%$38.49M
Showing 10 of 238Sign in to see more

Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.

Top 10 positions are 9.44% of net assets, top 25 20.85%, across 238 issuers.

See more of this fund's book

More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.

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