Plays a role in vesicular protein sorting. Required for retention of late Golgi membrane proteins and vacuolar biogenesis. Component of the membrane-associated retromer complex which is essential in endosome-to-Golgi retrograde transport. The VPS5-VPS17 subcomplex may assemble onto the membrane to promote vesicle formation. Component of the retromer complex which consists of VPS29, VPS26, VPS35, VPS5 and VPS17. Component of a retromer subcomplex consisting of VPSD5 and VPS17. The PX domain binds phosphatidylinositol 3-phosphate which is necessary for peripheral membrane localization. Phosphorylated on serine residue(s). Present with 6120 molecules/cell in log phase SD medium. Belongs to the sorting nexin family.