Victory Pioneer Bond Y

This fund typically dedicates at least 80% of its overall investment capital (which includes its net assets and any funds borrowed for investment) to a mix of fixed-income instruments. These primarily include debt obligations backed by the U.S. government, its agencies, and related entities, as well as high-quality, investment-grade bonds (such as convertible debt) issued by corporations or other organizations. A portion is also held in highly liquid assets like cash, cash equivalents, and other short-term investments. Additionally, the fund has the flexibility to allocate a considerable portion of its holdings to various mortgage-related securities. This category can cover commercial mortgage-backed securities, collateralized mortgage obligations, and even those linked to "sub-prime" mortgages, along with other asset-backed securities.