Victory Trivalent International Small-Cap Fund
Actively managed developed international stock fund
As of its 2026 Q2 report, Victory Trivalent International Small-Cap Fund held 238 positions with $4.68B in net assets. Its ten largest holdings made up 9.4% of the fund. The MISAX share class costs 1.35% a year. Over the 12 months to May 2026, MISAX returned 35.5%, with dividends reinvested. In 2026 Q2 it added 33 new positions and exited 27.
The Victory Trivalent International Small-Cap Fund (the Fund) seeks to provide long-term growth of capital.
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.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
DPMLFDPM Metals Inc. | 1.20% | $55.96M | 1.7M | $32.48 |
Mitsui Kinzoku Company, Limited | 1.05% | $49.21M | 183.9K | $267.61 |
TOKYO OHKA KOGYO CO., LTD. | 1.00% | $46.98M | 661.2K | $71.05 |
FINGFFINNING INTERNATIONAL INC. | 0.94% | $43.75M | 619.4K | $70.64 |
OGCOceanaGold Corporation | 0.93% | $43.48M | 1.7M | $25.07 |
Mebuki Financial Group, Inc. | 0.91% | $42.30M | 4.8M | $8.78 |
BE Semiconductor Industries N.V. | 0.88% | $40.89M | 123.8K | $330.22 |
BANKINTER, S.A. | 0.87% | $40.69M | 2.4M | $16.74 |
TAIYO YUDEN CO., LTD. | 0.84% | $39.36M | 309.5K | $127.17 |
IBIDEN CO.,LTD. | 0.82% | $38.49M | 254.9K | $151.00 |
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.
The 200 largest of 238 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 96.50% |
| Cash & short-term | 3.01% |
| Other | 2.26% |
How it has done
MISAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 17.78%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.35% | +35.52% | +85.23% | +47.80% | -12.81% | |
| 2.10% | +34.43% | +81.03% | +42.34% | -13.00% | |
| 0.97% | +36.00% | +87.33% | +50.78% | -12.74% | |
| 1.02% | +35.96% | +87.06% | +50.26% | -12.70% | |
| 1.10% | +35.79% | +86.51% | +49.59% | -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.
Fees & fund details
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
- Expense ratio, by class
- 0.97% – 2.10%· MISAX 1.35%
- Portfolio turnover
- 49.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
33 new· the largest 8
27 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
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
Understand how this fund fits with the rest.
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