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Consider the investment objectives, risks, charges and expenses of the funds and the USAA 529 Education Savings Plan (Plan) carefully before investing. Download a prospectus or summary prospectus for the Mutual Funds or download a prospectus or summary prospectus for the ETFs, containing this and other important information. Download a Plan Description and Participation Agreement containing this and other important information about the Plan from Victory Capital Services, Inc., Underwriter and Distributor. Read it carefully before investing. You should compare the Plan with any 529 Plan offered by your home state or your beneficiary’s home state and consider, before investing, any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in the home state’s plan.  

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

Barron’s ranked Victory Capital Management Inc. 8^th overall out of 51 fund families for the one-year period ended December 31, 2021, first in the Mixed Asset Category and third in the Municipal Bond category. Barron’s ranked USAA Investments 14^th out of 51 fund families overall for the one-year period ended December 31, 2021, third in the Taxable Bond category and fourth in the Municipal Bond category.

The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.

The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. USAA Ultra Short-Term Bond Fund Class R6 was selected from among 50 funds and 145 share classes in the ultra-short obligation fund category over three years for the period ending November 30, 2021. USAA Ultra Short-Term Bond Fund Class I was selected from among 46 funds and 120 share classes in the ultra-short obligation fund category over five years for the period ending November 30, 2021. Victory Floating Rate Fund Class Y was selected from among 53 funds and 217 share classes in the loan participation fund category over three years for the period ending November 30, 2021. USAA Nasdaq-100 index Fund Class Fund was selected from among 140 funds and 419 share classes in the large-cap growth fund category over ten years for the period ending November 30, 2021. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.

Refinitiv Lipper Fund Awards, ©2022 Refinitiv. All rights reserved. Used under license.

From Fortune. ©2021 Fortune Media IP Limited All rights reserved. Used under license. Fortune is a registered trademark of Fortune Media IP Limited and is used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Victory Capital Management Inc.

Victory Capital means Victory Capital Management Inc., the investment adviser of the Victory Capital mutual funds, USAA Mutual Funds, VictoryShares ETFs, VictoryShares USAA ETFs, and USAA 529 Education Savings Plan (Plan). Victory Capital mutual funds, USAA Mutual Funds, and the Plan are distributed by Victory Capital Services, Inc. (VCS), an affiliate of Victory Capital. VictoryShares ETFs and VictoryShares USAA ETFs are distributed by Foreside Fund Services, LLC (Foreside). VCS and Foreside are members of FINRA. VCS and Victory Capital are not affiliated with Foreside. USAA is not affiliated with Foreside, Victory Capital, or VCS. USAA and the USAA logos are registered trademarks and the USAA Mutual Funds, USAA Investments, and the Plan logos are trademarks of United Services Automobile Association and are being used by Victory Capital and its affiliates under license. 

Not FDIC insured • No bank guarantee •  May lose value