See what your fund actually adds

Victory Tax Exempt Short-Term Fund Class A UTESX

Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.

Fund and replication metrics

UTESX compared with its replication portfolio
MeasureUTESXReplication
Annualized growth1.3%2.0%
Annualized volatility2.2%2.4%
Sharpe ratio0.600.81
Maximum drawdown6.6%6.8%
Replication fit (R²)0.78 · Tracking error 1.0%

Replication portfolio

The published portfolio below is the investable basket used to model UTESX’s historical return behavior.

UTESX replication basket weights
TickerBuilding blockWeight
VGSHFI · Short Gov42.5%
MUBFI · Municipal35.1%
BKLNFI · Senior Bank Loans19.4%
STIPFI · Short TIPS2.9%