XPMAX

About XPMAX

Victory Pioneer High Income Municipal Fund Class A is an open‑end municipal bond mutual fund focused on generating income exempt from regular federal income tax, with a secondary objective of capital appreciation. The strategy primarily invests in high‑yield municipal obligations, including below‑investment‑grade and unrated bonds, allowing broad flexibility across sectors and maturities within the municipal market. Portfolios are built bond‑by‑bond through credit research on issuer fundamentals and security structures, reflecting an emphasis on credit selection in lower‑rated muni segments. The fund sits in the High Yield Muni category and distributes income monthly, positioning it as a vehicle for tax‑advantaged cash flows. Its holdings often include revenue‑backed structures such as tobacco settlement securitizations and transportation or infrastructure‑related issuers, highlighting exposure to economically sensitive municipal revenues. With an inception dating to 2006 and a front‑load Class A share structure, the fund’s expense profile is a noted consideration within its peer group. Overall, Victory Pioneer High Income Municipal Fund Class A plays a role in the market by channeling capital to municipalities with higher credit risk while offering federally tax‑exempt income to investors.