All investing involves risk, including potential loss of principal. Please seek independent tax and/or legal advice regarding your particular circumstances before making any investment decisions. Victory Capital does not provide tax or legal advice.

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.

Advisory services offered by Victory Capital Management Inc.

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