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Victory US 500 Enhanced Volatility Wtd Index Fund
Please note: As of June 1, 2018, the Fund is generally closed to new investors. For more information, please see the prospectus.
  • The Fund seeks to track the performance of the Nasdaq Victory US Large Cap 500 Long/Cash Volatility Weighted Index before fees and expenses.
  • The Fund seeks to minimize downside risk by reducing exposure to equities during periods of significant market decline and reinvesting when market prices have further declined or rebounded.
  • The Fund tactically reduces and increases allocations to equities according to exit and reinvestment strategies based on performance of the reference index relative to its All-Time Highest Daily Closing Value.
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Please note: Effective June 1, 2018, the Victory US 500 Enhanced Volatility Wtd Index Fund is generally closed to new investors. For more information, please see the prospectus
 
FUND OBJECTIVE 
The Fund seeks to provide investment results that track the performance of the Nasdaq Victory US Large Cap 500 Long/Cash Volatility Weighted Index (the “Long/Cash Index”) before fees and expenses. 
 
INDEX DESCRIPTION 
The Long/Cash Index tactically reduces its exposure to the equity markets during periods of significant market declines and reinvests when market prices have further declined or rebounded. The Nasdaq Victory US Large Cap 500 Long/Cash Volatility Weighted Index is based on the month-end price of the Nasdaq Victory US Large Cap 500 Volatility Weighted Index (the “Reference Index”). 
 
LONG/CASH METHODOLOGY 
The exit and reinvestment methodology of the Long/Cash Index is based on the month-end value of the Reference Index relative to its All-Time Highest Daily Closing Value (“AHDCV”). AHDCV is the highest daily closing price the Reference Index has achieved since its inception date. 
 
Exit Strategy: 
All measurements for the exit strategy are based on month-end values of the Reference Index. 

  • If the Reference Index has declined 10% (or more) from its AHDCV, the Long/Cash Index will liquidate 75% of its equity exposure at month-end. 
  • When the Long/Cash Index is less than 100% invested in its equity securities, the remaining assets in the Long/Cash Index will be invested in 30-day Treasury bills (or equivalents). 
     

Reinvestment Strategy: 
All measurements for re-investment are based upon month-end values of the 
Reference Index. 

  • If the Reference Index has increased back to or above the point of exit (10% decline from AHDCV), the assets that were liquidated will be reinvested, resulting in the Long/Cash Index being 100% invested in equity securities. 
  • If the Reference Index has declined further and is now 20% or more below the Reference Index’s AHDCV, 25% of the Long/Cash Index will be reinvested back in its equity securities. The Long/Cash Index will then be approximately 50% invested in equity securities. 
  • If the Reference Index has declined further and is now 30% or more below the Reference Index’s AHDCV, another 25% of the Long/Cash Index will be reinvested in its equity securities. The Long/Cash Index will then be approximately 75% invested in equity securities. 
  • If the Reference Index has declined further and is now 40% or more below the Reference Index’s AHDCV, another 25% of the Long/Cash Index will be reinvested in its equity securities. The Long/Cash Index will then be approximately 100% invested in equity securities. 

Management Team

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