All investing involves risk, including the potential loss of principal.

All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security or insurance product; or an endorsement of any third party or such third party’s views. Whenever there are hyperlinks to third-party content, this information is intended to provide additional perspective and should not be construed as an endorsement of any services, products, guidance, individuals or points of view outside Victory Capital. All examples are hypothetical and for illustrative purposes only. You should obtain relevant and specific professional advice before making any investment or other decision. This material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete.

Victory Funds, VictoryShares ETFs and the Victory Capital 529 Education Savings Plan (Plan) are distributed, and brokerage services provided by Victory Capital Services, Inc. (VCS).

USAA is a trademark of United Services Automobile Association and is being used by Victory Capital and its affiliates under license. Victory Capital and its affiliates are not affiliated with USAA or its affiliates.