VFFIX

About VFFIX

Victory INCORE Fund for Income Class I is a U.S. mutual fund in the short government bond category that targets a high level of current income while prioritizing preservation of capital. According to the adviser, it primarily invests in securities issued or guaranteed by the U.S. government and its agencies, with a core focus on mortgage‑backed obligations and collateralized mortgage obligations from the Government National Mortgage Association, complemented by short‑maturity Treasuries and agency instruments. The strategy emphasizes securities backed by the full faith and credit of the United States, seeking above‑average yield with below‑average prepayment sensitivity and a dollar‑weighted average maturity typically under five years. In practice, the portfolio aims to capture the mortgage spread premium while managing negative convexity, maintaining Treasury‑like duration characteristics within the short government universe. The fund is positioned as an institutional share class and has been managed to benchmark against the Bloomberg U.S. 1–5 Year Government Bond Index over a full cycle with an emphasis on risk control.