Victory
Extended Market Index Fund
(Formerly
USAA®
Extended Market Index Fund) | |||||
|
Fund
Shares |
|
|
|
|
|
USMIX |
|
|
|
|
Victory
500 Index Fund
(Formerly
USAA®
500 Index Fund) | |||||
|
Member
Shares |
Reward
Shares |
|
|
|
|
USSPX |
USPRX |
|
|
|
Victory
Nasdaq-100 Index Fund
(Formerly
USAA®
Nasdaq-100 Index Fund) | |||||
|
Fund
Shares |
Institutional
Shares
|
Class
A |
Class
C |
Class
R6 |
|
USNQX |
UINQX |
UANQX |
UCNQX |
URNQX |
|
|
Management
Fee
|
|
Distribution
and/or Service (12b-1) Fees |
|
Other
Expenses
|
|
Acquired
Fund Fees and Expenses |
|
Total
Annual Fund Operating Expenses |
|
1
Year |
3
Years |
5
Years |
10
Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Fund
Shares |
|
|
|
Return
Before Taxes |
- |
|
|
Return
After Taxes on Distributions |
- |
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Index | |||
Wilshire
4500 Completion Index
reflects
no deduction for fees, expenses, or taxes |
- |
|
|
|
Title |
Tenure
with the Fund |
Mannik
S. Dhillon, CFA, CAIA |
President,
VictoryShares and
Solutions |
Since
2019 |
Free
Foutz |
Portfolio
Implementation
Manager,
VictoryShares and
Solutions |
Since
September 2022 |
|
Member
Shares
|
Reward
Shares
|
Account
Maintenance Fee (for Fund account balances below
$10,000) |
$ |
|
|
Member
Shares |
Reward
Shares |
Management
Fee
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
Other
Expenses
|
|
|
Total
Annual Fund Operating Expenses |
|
|
Fee
Waiver/Reimbursement from Adviser |
|
( |
Total
Annual Fund Operating Expenses after Reimbursement |
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Member
Shares |
$ |
$ |
$ |
$ |
Reward
Shares |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years
(or
Life
of
Class) |
10
Years
(or
Life
of
Class) |
Member
Shares |
|
|
|
Return
Before Taxes |
- |
|
|
Return
After Taxes on Distributions |
- |
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Reward
Shares |
|
|
|
Return
Before Taxes |
- |
|
|
Indexes | |||
Victory
US Large Cap 500 Index
reflects
no deduction for fees, expenses, or taxes |
- |
|
|
S&P
500®
Index
reflects
no deduction for fees, expenses, or taxes |
- |
|
|
|
Title |
Tenure
with the Fund |
Mannik
S. Dhillon, CFA, CAIA |
President,
VictoryShares and
Solutions |
Since
2019 |
Free
Foutz |
Portfolio
Implementation
Manager,
VictoryShares and
Solutions |
Since
September 2022 |
|
Fund
Shares
|
Inst.
Shares
|
Class
A |
Class
C
|
Class
R6 |
Maximum
Sales Charge (load) Imposed on
Purchases
(as a percentage of offering price) |
|
|
|
|
|
Maximum
Deferred Sales Charge (load)
(as
a percentage of the lower of purchase or
sales
price) |
|
|
|
|
|
|
Fund
Shares |
Inst.
Shares |
Class
A |
Class
C |
Class
R6 |
Management
Fee
|
|
|
|
|
|
Distribution
and/or Service (12b-1) Fees |
|
|
|
|
|
Other
Expenses
|
|
|
|
|
|
Total
Annual Fund Operating Expenses |
|
|
|
|
|
Fee
Waiver/Reimbursement from Adviser |
|
|
( |
( |
|
Total
Annual Fund Operating Expenses after
Reimbursement |
|
|
|
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
Fund
Shares |
$ |
$ |
$ |
$ |
Inst.
Shares |
$ |
$ |
$ |
$ |
Class
A |
$ |
$ |
$ |
$ |
Class
C
|
$ |
$ |
$ |
$ |
Class
R6 |
$ |
$ |
$ |
$ |
|
1
Year |
3
Years |
5
Years |
10
Years |
Class
C
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
5
Years
(or
Life
of
Class) |
10
Years
(or
Life
of
Class) |
Fund
Shares |
|
|
|
Return
Before Taxes |
- |
|
|
Return
After Taxes on Distributions |
- |
|
|
Return
After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Institutional
Shares |
|
|
|
Return
Before Taxes |
- |
|
|
Class
A |
|
|
|
Return
Before Taxes |
- |
|
|
Class
C |
|
|
|
Return
Before Taxes |
- |
|
|
Class
R6 |
|
|
|
Return
Before Taxes |
- |
|
|
Indexes | |||
Nasdaq-100
Index
reflects
no deduction for fees, expenses, or taxes |
- |
|
|
Russell
1000®
Growth Index
reflects
no deduction for fees, expenses, or taxes |
- |
|
|
|
Title |
Tenure
with the Fund |
Mannik
S. Dhillon, CFA, CAIA |
President,
VictoryShares and
Solutions |
Since
2019 |
Free
Foutz |
Portfolio
Implementation
Manager,
VictoryShares and
Solutions |
Since
September 2022 |
Investment
Minimums |
Fund
Shares |
Inst.
Shares |
Class
A |
Class
C |
Class
R6 |
Minimum
Initial Investment |
$3,000 |
$1,000,000 |
$2,500 |
$2,500 |
None |
Minimum
Subsequent Investments |
$50 |
None |
$50 |
$50 |
None |
Victory
Capital Management Inc., which we refer to as the “Adviser”
throughout
the Prospectus, manages each
Fund. |
Fund |
Advisory
Fee |
Victory
Extended Market Index Fund |
0.10% |
Victory
500 Index Fund |
0.10% |
Victory
Nasdaq-100 Index Fund |
0.20% |
An
Investment Professional is an investment consultant, salesperson,
financial planner,
investment
adviser, or trust officer who provides you with investment
information.
Your
Investment Professional also can help you decide which share class is best
for you.
Investment
Professionals and other financial intermediaries may charge fees
for their services. |
For
historical expense information, see the “Financial
Highlights”
at the end of
this Prospectus. |
Your
Investment in the Fund |
Sales
Charge as
a
% of Offering Price |
Sales
Charge as
a
% of Your Investment |
Less
than $100,000 |
2.25% |
2.30% |
$100,000
up to $249,999 |
1.75% |
1.78% |
Over
$250,000 |
0.00% |
0.00% |
There
are several ways you can combine multiple purchases of Class A shares of
the Victory
Funds to take
advantage of reduced sales charges or, in some cases, eliminate sales
charges. |
A Fund
reserves the right to change the criteria for eligible
investors
and the
investment minimums. |
There may be
limits on the ability to exchange between certain Victory
Funds.
You can
obtain a list of Victory Funds available for exchange by
calling
(800)
235-8396 or by visiting
VictoryFunds.com |
There are a
number of convenient ways to sell your
shares. |
Buying
a dividend. You should
check the Funds' distribution schedule before you invest.
If you buy
shares of a Fund shortly before it makes a distribution,
some of your
investment may come back to you as a taxable
distribution. |
The
tax information in this Prospectus is provided as general information.
You
should review
the more detailed discussion of federal income tax
considerations
in the SAI
and consult your tax adviser regarding the federal, state, local,
or
foreign tax
consequences resulting from your investment in a
Fund. |
NAV= |
Total
Assets - Liabilities |
Number of
Shares Outstanding |
|
| ||||
|
Year
Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$24.75 |
$25.40 |
$20.01 |
$16.14 |
$18.98 |
Investment
Activities |
|
|
|
|
|
Net
investment income (loss) |
0.24(a)
|
0.22(a)
|
0.18(a)
|
0.20(a)
|
0.17 |
Net
realized and unrealized gains
(losses)
on investments |
(6.14) |
3.58 |
6.05 |
4.31 |
(1.96) |
Total
from Investment Activities |
(5.90) |
3.80 |
6.23 |
4.51 |
(1.79) |
Distributions
to Shareholders From |
|
|
|
|
|
Net
investment income |
(0.25) |
(0.23) |
(0.21) |
(0.26) |
(0.17) |
Net
realized gains from investments |
(1.27) |
(4.22) |
(0.63) |
(0.38) |
(0.88) |
Total
Distributions
|
(1.52) |
(4.45) |
(0.84) |
(0.64) |
(1.05) |
Net
Asset Value, End of Period |
$17.33 |
$24.75 |
$25.40 |
$20.01 |
$16.14 |
Total
Return(b)
|
(24.03)% |
15.61% |
31.20% |
27.94% |
(9.70)% |
Ratios
to Average Net Assets |
|
|
|
|
|
Net
Expenses(c)(d)
|
0.36% |
0.34% |
0.38% |
0.41% |
0.43%(e)
|
Net
Investment Income (Loss) |
1.20% |
0.77% |
0.91% |
1.06% |
0.90%(e)
|
Gross
Expenses(d)
|
0.36% |
0.34% |
0.38% |
0.41% |
0.43%(e)
|
Supplemental
Data |
|
|
|
|
|
Net
Assets at end of period (000’s) |
$671,926 |
$969,905 |
$906,111 |
$788,664 |
$656,406 |
Portfolio
Turnover |
21% |
24% |
31% |
24% |
12%(f)
|
|
Member
Shares | ||||
|
Year
Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of
Period |
$62.23 |
$51.33 |
$43.93 |
$35.22 |
$38.00 |
Investment
Activities |
|
|
|
|
|
Net
investment income (loss) |
0.69(a)
|
0.63(a)
|
0.65(a)
|
0.71(a)
|
0.68 |
Net
realized and unrealized
gains
(losses) on investments |
(12.70) |
13.37 |
8.48 |
10.19 |
(2.40) |
Total
from Investment
Activities |
(12.01) |
14.00 |
9.13 |
10.90 |
(1.72) |
Distributions
to Shareholders
From |
|
|
|
|
|
Net
investment income |
(0.70) |
(0.63) |
(0.66) |
(0.72) |
(0.66) |
Net
Realized Gains from
Investments |
(0.67) |
(2.47) |
(1.07) |
(1.47) |
(0.40) |
Total
Distributions
|
(1.37) |
(3.10) |
(1.73) |
(2.19) |
(1.06) |
Net
Asset Value, End of Period |
$48.85 |
$62.23 |
$51.33 |
$43.93 |
$35.22 |
Total
Return(b)
|
(19.38)% |
27.50% |
21.22% |
31.19% |
(4.65)% |
Ratios
to Average Net Assets |
|
|
|
|
|
Net
Expenses(c)(d)
|
0.24% |
0.24% |
0.25% |
0.25% |
0.25% |
Net
Investment Income (Loss)
|
1.30% |
1.09% |
1.47% |
1.73% |
1.75% |
Gross
Expenses(d)
|
0.24% |
0.24% |
0.25% |
0.26% |
0.26% |
Supplemental
Data |
|
|
|
|
|
Net
Assets at end of period
(000’s) |
$3,423,615 |
$4,410,258 |
$3,997,663 |
$3,603,465 |
$2,957,995 |
Portfolio
Turnover(e)
|
7% |
8% |
5% |
13% |
4% |
|
Reward
Shares | ||||
|
Year
Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of
Period |
$62.27 |
$51.36 |
$43.95 |
$35.24 |
$38.01 |
Investment
Activities |
|
|
|
|
|
Net
investment income (loss) |
0.74(a)
|
0.68(a)
|
0.70(a)
|
0.75(a)
|
0.71 |
Net
realized and unrealized
gains
(losses) on investments |
(12.71) |
13.38 |
8.49 |
10.19 |
(2.38) |
Total
from Investment
Activities |
(11.97) |
14.06 |
9.19 |
10.94 |
(1.67) |
Distributions
to Shareholders
From |
|
|
|
|
|
Net
investment income |
(0.75) |
(0.68) |
(0.71) |
(0.76) |
(0.70) |
Net
realized gains from
investments |
(0.67) |
(2.47) |
(1.07) |
(1.47) |
(0.40) |
Total
Distributions |
(1.42) |
(3.15) |
(1.78) |
(2.23) |
(1.10) |
Net
Asset Value, End of Period |
$48.88 |
$62.27 |
$51.36 |
$43.95 |
$35.24 |
Total
Return(b)
|
(19.31)% |
27.62% |
21.35% |
31.29% |
(4.53)% |
Ratios
to Average Net Assets |
|
|
|
|
|
Net
Expenses(c)(d)
|
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
Investment
Income (Loss) |
1.40% |
1.17% |
1.58% |
1.83% |
1.85% |
Gross
Expenses(d)
|
0.19% |
0.18% |
0.18% |
0.18% |
0.18% |
Supplemental
Data |
|
|
|
|
|
Net
assets at end of period
(000’s) |
$5,480,518 |
$6,638,059 |
$5,010,367 |
$4,546,094 |
$3,606,745 |
Portfolio
Turnover(e)
|
7% |
8% |
5% |
13% |
4% |
|
Fund
Shares | ||||
|
Year
Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of
Period |
$43.16 |
$35.56 |
$24.35 |
$17.69 |
$17.89 |
Investment
Activities |
|
|
|
|
|
Net
investment income (loss) |
0.16(a)
|
0.11(a)
|
0.13(a)
|
0.13(a)
|
0.11 |
Net
realized and unrealized
gains
(losses) on investments |
(14.19) |
9.43 |
11.62 |
6.74 |
(0.18) |
Total
from Investment
Activities |
(14.03) |
9.54 |
11.75 |
6.87 |
(0.07) |
Distributions
to Shareholders
From |
|
|
|
|
|
Net
investment income |
(0.08) |
(0.11) |
(0.13) |
(0.13) |
(0.12) |
Net
realized gains from
investments |
(1.08) |
(1.83) |
(0.41) |
(0.08) |
(0.01) |
Total
Distributions
|
(1.16) |
(1.94) |
(0.54) |
(0.21) |
(0.13) |
Net
Asset Value, End of Period |
$27.97 |
$43.16 |
$35.56 |
$24.35 |
$17.69 |
Total
Return(b)
|
(32.69)% |
26.96% |
48.30% |
38.86% |
(0.44)% |
Ratio
to Average Net Assets |
|
|
|
|
|
Net
Expenses(c)(d)
|
0.44% |
0.42% |
0.44% |
0.48% |
0.48% |
Net
Investment Income (Loss) |
0.48% |
0.27% |
0.46% |
0.63% |
0.64% |
Gross
Expenses(d)
|
0.44% |
0.42% |
0.44% |
0.48% |
0.48% |
Supplemental
Data |
|
|
|
|
|
Net
Assets at end of period
(000’s) |
$2,904,735 |
$4,436,357 |
$3,583,838 |
$2,442,662 |
$1,750,674 |
Portfolio
Turnover(e)
|
12% |
10% |
17% |
9% |
5% |
|
Institutional
Shares | ||
|
Year
Ended
December
31, |
Period
Ended
December
31,
| |
|
2022 |
2021 |
2020(f) |
Net
Asset Value, Beginning of Period |
$43.26 |
$35.64 |
$27.86 |
Investment
Activities |
|
|
|
Net
investment income (loss) |
0.16(a)
|
0.10(a)
|
0.07(a)
|
Net
realized and unrealized gains (losses) on
investments |
(14.23) |
9.45 |
8.17 |
Total
from Investment Activities |
(14.07) |
9.55 |
8.24 |
Distributions
to Shareholders From |
|
|
|
Net
investment income |
(0.12) |
(0.10) |
(0.05) |
Net
realized gains from investments |
(1.08) |
(1.83) |
(0.41) |
Total
Distributions |
(1.20) |
(1.93) |
(0.46) |
Net
Asset Value, End of Period |
$27.99 |
$43.26 |
$35.64 |
Total
Return(b)(g)
|
(32.70)% |
26.93% |
29.60% |
Ratios
to Average Net Assets |
|
|
|
Net
Expenses(c)(d)(h)
|
0.43% |
0.44% |
0.44% |
Net
Investment Income (Loss)(h)
|
0.52% |
0.25% |
0.42% |
Gross
Expenses(d)(h)
|
0.43% |
0.44% |
0.47% |
Supplemental
Data |
|
|
|
Net
Assets at end of period (000’s) |
$579,072 |
$82,846 |
$57,240 |
Portfolio
Turnover(e)(g)
|
12% |
10% |
17% |
|
Class
A | ||
|
Year
Ended
December
31, |
Period
Ended
December
31, | |
|
2022 |
2021 |
2020(f) |
Net
Asset Value, Beginning of Period |
$43.11 |
$35.64 |
$27.86 |
Investment
Activities |
|
|
|
Net
investment income (loss) |
0.08(a)
|
(0.01)(a)(i)
|
0.02(a)
|
Net
realized and unrealized gains (losses) on
investments |
(14.18) |
9.44 |
8.18 |
Total
from Investment Activities |
(14.10) |
9.43 |
8.20 |
Distributions
to Shareholders From |
|
|
|
Net
investment income |
(0.02) |
(0.13) |
(0.01) |
Net
realized gains from investments |
(1.08) |
(1.83) |
(0.41) |
Total
Distributions |
(1.10) |
(1.96) |
(0.42) |
Net
Asset Value, End of Period |
$27.91 |
$43.11 |
$35.64 |
Total
Return (Excludes Sales Charges)(b)(g)
|
(32.87)% |
26.60% |
29.46% |
Ratios
to Average Net Assets |
|
|
|
Net
Expenses(c)(d)(h)
|
0.70% |
0.70% |
0.70% |
Net
Investment Income (Loss)(h)
|
0.23% |
(0.02)% |
0.11% |
Gross
Expenses(d)(h)
|
0.82% |
1.03% |
46.74% |
Supplemental
Data |
|
|
|
Net
Assets at end of period (000’s) |
$17,660 |
$14,070 |
$167 |
Portfolio
Turnover(e)(g)
|
12% |
10% |
17% |
|
Class
C | ||
|
Year
Ended
December
31, |
Period
Ended
December
31, | |
|
2022 |
2021 |
2020(f) |
Net
Asset Value, Beginning of Period |
$42.74 |
$35.51 |
$27.86 |
Investment
Activities |
|
|
|
Net
investment income (loss) |
(0.17)(a)
|
(0.33)(a)(i)
|
(0.10)(a)
|
Net
realized and unrealized gains (losses) on
investments |
(14.02) |
9.39 |
8.16 |
Total
from Investment Activities |
(14.19) |
9.06 |
8.06 |
Distributions
to Shareholders From |
|
|
|
Net
investment income |
—(j) |
— |
— |
Net
realized gains from investments |
(1.08) |
(1.83) |
(0.41) |
Total
Distributions |
(1.08) |
(1.83) |
(0.41) |
Net
Asset Value, End of Period |
$27.47 |
$42.74 |
$35.51 |
Total
Return (excludes contingent deferred sales charge)(b)(g)
|
(33.37)% |
25.67% |
28.95% |
Ratios
to Average Net Assets |
|
|
|
Net
Expenses(c)(d)(h)
|
1.45% |
1.45% |
1.45% |
Net
Investment Income (Loss)(h)
|
(0.53)% |
(0.79)% |
(0.61)% |
Gross
Expenses(d)(h)
|
1.86% |
2.29% |
19.93% |
Supplemental
Data |
|
|
|
Net
Assets at end of period (000’s) |
$3,134 |
$3,205 |
$194 |
Portfolio
Turnover(e)(g)
|
12% |
10% |
17% |
|
Class
R6 | ||||
|
Year
Ended December 31, | ||||
|
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$43.19 |
$35.57 |
$24.35 |
$17.68 |
$17.89 |
Investment
Activities |
|
|
|
|
|
Net
investment income (loss) |
0.20(a)
|
0.15(a)
|
0.17(a)
|
0.15(a)
|
0.12 |
Net
realized and unrealized gains (losses)
on
investments |
(14.21) |
9.45 |
11.63 |
6.74 |
(0.18) |
Total
from Investment Activities |
(14.01) |
9.60 |
11.80 |
6.89 |
(0.06) |
Distributions
to Shareholders From |
|
|
|
|
|
Net
investment income |
(0.13) |
(0.15) |
(0.17) |
(0.14) |
(0.14) |
Net
realized gains from investments |
(1.08) |
(1.83) |
(0.41) |
(0.08) |
(0.01) |
Total
Distributions |
(1.21) |
(1.98) |
(0.58) |
(0.22) |
(0.15) |
Net
Asset Value, End of Period |
$27.97 |
$43.19 |
$35.57 |
$24.35 |
$17.68 |
Total
Return(b)
|
(32.62)% |
27.14% |
48.51% |
38.99% |
(0.38%) |
Ratios
to Average Net Assets |
|
|
|
|
|
Net
Expenses(c)(d)
|
0.32% |
0.30% |
0.31% |
0.39% |
0.40% |
Net
Investment Income (Loss) |
0.61% |
0.38% |
0.59% |
0.71% |
0.72% |
Gross
Expenes(d)
|
0.32% |
0.30% |
0.31% |
0.42% |
0.45% |
Supplemental
Data |
|
|
|
|
|
Net
Assets at end of period (000’s) |
$71,232 |
$42,391 |
$35,511 |
$18,877 |
$12,667 |
Portfolio
Turnover(e)
|
12% |
10% |
17% |
9% |
5% |