- ISIN
- US9032878293
- Issuer
- Victory
- Inception Date
- Aug 6, 2015
- Category
- Tactical Allocation
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
UTMAX Performance Chart
Victory Target Managed Allocation Fund (UTMAX) is up 8.2% since the beginning of the year. UTMAX is currently trading at $12 per share. Investors who bought $1,000 worth of UTMAX shares 5 years ago would now be looking at an investment worth $1,386.
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Returns By Period
Victory Target Managed Allocation Fund (UTMAX) has returned 8.17% so far this year and 21.81% over the past 12 months. Over the last ten years, UTMAX has returned 8.63% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Victory Target Managed Allocation Fund
- 1D
- 1.63%
- 1M
- 0.24%
- 6M
- 5.78%
- YTD
- 8.17%
- 1Y
- 21.81%
- 3Y*
- 13.91%
- 5Y*
- 6.74%
- 10Y*
- 8.63%
- ALL TIME*
- 8.40%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
UTMAX Monthly Returns History
Based on dividend-adjusted daily data since Sep 17, 2015, UTMAX's average daily return is +0.04%, while the average monthly return is +0.74%. At this rate, an investment would double in approximately 7.8 years.
Historically, 69% of months were positive and 31% were negative. The best month was Apr 2020 with a return of +9.0%, while the worst month was Mar 2020 at -11.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, UTMAX closed higher 51% of trading days. The best single day was Dec 16, 2021 with a return of +26.5%, while the worst single day was Dec 17, 2021 at -22.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.26% | 2.89% | -6.69% | 7.61% | 3.12% | -0.48% | -0.24% | 8.17% | |||||
| 2025 | 3.09% | -1.00% | -5.96% | 1.56% | 4.61% | 2.30% | -0.99% | 2.81% | 4.67% | 2.61% | 0.25% | 0.81% | 15.25% |
| 2024 | 0.84% | 4.27% | 3.69% | -3.66% | 3.60% | 1.74% | 0.09% | 1.89% | 0.37% | -1.48% | 4.14% | -2.11% | 13.81% |
| 2023 | 5.33% | -2.92% | 0.93% | 1.49% | -1.81% | 4.37% | 2.32% | -2.16% | -3.41% | -2.28% | 8.40% | 4.05% | 14.40% |
| 2022 | -4.69% | -2.08% | 4.06% | -8.83% | -0.31% | -8.79% | 5.72% | -4.67% | -8.12% | 6.05% | 5.59% | -4.70% | -20.44% |
| 2021 | 0.26% | 2.39% | 2.09% | 3.92% | 2.12% | 1.16% | 0.69% | 1.36% | -5.00% | 8.33% | -1.89% | 4.82% | 21.52% |
Benchmark Metrics
Victory Target Managed Allocation Fund has an annualized alpha of -1.18%, beta of 0.80, and R2 of 0.59 versus S&P 500 Index. Calculated based on daily prices since September 17, 2015.
- This fund participated in 82.89% of S&P 500 Index downside but only 69.63% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -1.18%
- Beta
- 0.80
- R²
- 0.59
- Upside Capture
- 69.63%
- Downside Capture
- 82.89%
Expense Ratio
UTMAX has an expense ratio of 0.69%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UTMAX ranks 55 for risk / return — above 55% of mutual funds peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Victory Target Managed Allocation Fund (UTMAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UTMAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.00 | +0.14 |
| Martin ratioReturn relative to average drawdown | 8.87 | 8.49 | +0.37 |
Dividends
Dividend History
Victory Target Managed Allocation Fund provided a 6.35% dividend yield over the last twelve months, with an annual payout of $0.79 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.79 | $0.79 | $0.17 | $0.13 | $0.38 | $3.04 | $0.69 | $0.53 | $1.03 | $0.13 | $0.14 | $0.12 |
Dividend yield | 6.35% | 6.87% | 1.59% | 1.41% | 4.47% | 27.44% | 5.94% | 4.84% | 11.05% | 1.13% | 1.36% | 1.23% |
Monthly Dividends
The table displays the monthly dividend distributions for Victory Target Managed Allocation Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $0.79 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.17 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.38 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.04 | $3.04 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Victory Target Managed Allocation Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Victory Target Managed Allocation Fund was 40.49%, occurring on Oct 14, 2022. Recovery took 822 trading sessions.
The current Victory Target Managed Allocation Fund drawdown is 1.19%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-40.49%Oct 2022 | 10mo 1d | 3y 3mo | 4y 1moDec 2021 - Jan 2026 | Bear market2022 |
-30.65%Mar 2020 | 1mo 2d | 5mo 6d | 6mo 8dFeb 2020 - Aug 2020 | COVID crash2020 |
-17.14%Dec 2018 | 10mo 29d | 7mo 2d | 1y 5moJan 2018 - Jul 2019 | Rate-hike selloffLate 2018 |
-9.41%Mar 2026 | 1mo 2d | 18d | 1mo 20dFeb 2026 - Apr 2026 | — |
-8.48%Jan 2016 | 2mo 18d | 4mo 19d | 7mo 7dNov 2015 - Jun 2016 | — |
Drawdown Indicators
| UTMAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.49% | -56.78% | +16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -9.10% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -18.90% | +1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -40.49% | -25.43% | -15.06% |
Max Drawdown (10Y)Largest decline over 10 years | -40.49% | -33.92% | -6.57% |
Current DrawdownCurrent decline from peak | -1.19% | -1.58% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -10.78% | -10.70% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 2.14% | +0.13% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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