497 1 a19-12299_2497.htm 497

 

VictoryShares

 

VictoryShares US 500 Volatility Wtd ETF

VictoryShares Quality Growth ETF

VictoryShares Quality Value ETF

VictoryShares US Small Cap Volatility Wtd ETF

VictoryShares International Volatility Wtd ETF

VictoryShares Emerging Market Volatility Wtd ETF

VictoryShares US Large Cap High Div Volatility Wtd ETF

VictoryShares US Small Cap High Div Volatility Wtd ETF

VictoryShares International High Div Volatility Wtd ETF

VictoryShares Emerging Market High Div Volatility Wtd ETF

VictoryShares Dividend Accelerator ETF

VictoryShares US Multi-Factor Minimum Volatility ETF

VictoryShares Global Multi-Factor Minimum Volatility ETF

VictoryShares International Multi-Factor Minimum Volatility ETF

VictoryShares US 500 Enhanced Volatility Wtd ETF

VictoryShares US EQ Income Enhanced Volatility Wtd ETF

VictoryShares US Discovery Enhanced Volatility Wtd ETF

VictoryShares Developed Enhanced Volatility Wtd ETF

(collectively, the “Funds”)

 

Supplement dated July 1, 2019

to the Statement of Additional Information

dated November 1, 2018 (“SAI”)

 

 

1.              Effective June 30, 2019, Steve Hammers is no longer a portfolio manager of the Funds. All references to Mr. Hammers in the SAI are hereby deleted.

 

2.            The following hereby replaces the section titled “Line of Credit” on page 61 of the SAI:

 

Line of Credit

 

Effective July 1, 2019, each Fund participates, along with other funds of the Victory Portfolios, Victory Portfolios II, Victory Variable Insurance Funds and USAA Mutual Funds Trust, in a short-term, demand note line of credit agreement with Citibank, N.A. (“Citibank”). Under the agreement with Citibank, the Funds may borrow up to $600 million, of which $300 million is committed and $300 million is uncommitted. Of the committed amount, $40 million of the line of credit is reserved for use by the Victory Floating Rate Fund (a series of Victory Portfolios), with that Fund paying the related commitment fees for that amount. The purpose of the agreement is to meet temporary or emergency cash needs, including redemption requests that might otherwise require the untimely disposition of securities. Citibank receives an annual commitment fee of 0.15%. Each Fund pays a pro-rata portion of this commitment fee plus any interest on amounts borrowed.

 

 

 

 

 

 

 

 

 

If you wish to obtain more information, please call the Victory Funds at 866-376-7890.

 

PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.