VictoryShares Core Intermediate Bond ETF

VictoryShares Core Intermediate Bond ETF (UITB) is an actively managed fund from Victory Capital. It holds mostly investment-grade US bonds: Treasurys, mortgage-backed securities and corporate debt. Its interest-rate sensitivity stays close to the Bloomberg U.S. Aggregate Bond Index. As of October 27, 2026, it paid monthly income with a trailing yield of 4.43%. Its 0.25% expense ratio, after a fee waiver, is far above the 0.03% charged by AGG and BND.

• Over the year to Oct 27, 2026, UITB returned -1.2%, 8th of 8 among similar funds.
• Its 5-year annualized return was +0.2%.
• Its worst full calendar year was 2022 (-12.2%); its best was 2025 (+7.3%).
• The deepest fall in its price history was 17% (Aug 3, 2021 to Oct 20, 2022), recovered by Sep 15, 2025.

As of Jun 30, 2026, the fund held 1,181 securities; the ten largest made up 15.43% of assets.

The bonds mature in 12.4 years on average (weighted by size), with an average coupon of 4.28%.

• Over the three months to Jun 30, 2026, investors added a net $9.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.16%, +0.28%, +0.31%.

UITB does not track an index. Victory Capital's managers choose the bonds and look for ones that offer value when they buy them. The prospectus defines value as a mix of yield, credit quality, structure (maturity, coupon and redemption features) and liquidity, meaning how easily a bond can be traded. The managers keep the fund's duration within two years of the Bloomberg U.S. Aggregate Bond Index. Duration measures how much a bond's price tends to move when interest rates change.

The rules set limits. At least 80% of net assets goes into debt securities, and at least 35% into government obligations. The fund may put up to 5% in below-investment-grade ("junk") bonds and up to 20% in foreign debt, including emerging markets. As of June 30, 2026, it held 1,181 securities. The 10 largest, all US Treasury notes, made up 15.43% of assets. About 35% of the portfolio was in mortgage-backed securities, and 95.1% was US exposure.

The fund may use futures, such as Treasury futures, to adjust duration or hedge risks, though it reported none on June 30, 2026. The prospectus gives no fixed rebalancing schedule, and portfolio turnover was 28%. Because the fund may pay out redemptions in cash, it can be less tax-efficient than some ETFs.

• UITB charges 0.25% a year, versus an average of 0.14% for the similar funds below (6th of 8, cheapest first).
• Of that, 0.3% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.12% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $26 in the first year and $456 over 10 years (assuming a 5% annual return).

It holds a broad mix of mostly investment-grade Treasurys, mortgage bonds and corporate debt, with interest-rate sensitivity tied to the main US bond benchmark.

UITB launched in 2017, so it has no record from 2008. It returned 8.07% in 2020. Rising rates hit it hard in 2022, when it lost 12.29%, its worst calendar year. Its deepest drop was 17%, from August 2021 to October 2022, and it took about 35 months to recover, until September 2025. A retiree who sold shares during that stretch would have locked in losses.

The fund pays monthly. Its trailing 12-month yield was 4.43% as of October 27, 2026, which may help cover regular spending without selling shares. Its 0.25% expense ratio works out to about $26 in the first year and $456 over 10 years on $10,000, using the SEC's standard example. AGG and BND charge 0.03%. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).