Fund Description: VictoryShares Emerging Market High Div Volatility Wtd ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Victory Portfolios II, formerly Compass EMP Funds Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The VictoryShares Emerging Market High Div Volatility Wtd ETF seeks to provide investment returns that closely correspond to the price and yield performance of the CEMP Emerging Market High Dividend 100 Volatility Weighted Index. INDEX DESCRIPTION: The CEMP Emerging Market High Dividend 100 Volatility Weighted Index combines fundamental criteria with individual security risk control achieved through volatility weighting of individual securities. The Index follows a rules-based methodology to construct its constituent securities. The Index universe begins with the stocks included in the CEMP Emerging Market 500 Volatility Weighted Index, a volatility weighted index comprised of the 500 largest emerging market companies by market capitalization with positive earnings in each of the four most recent quarters and identifies the 100 highest dividend yielding stocks. The 100 stocks are weighted based on their daily standard deviation (volatility) of daily price changes over the last 180 trading days. Stocks with lower volatility receive a higher weighting and stocks with higher volatility receive a lower weighting. The Index is reconstituted every March and September. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing at least 80% of its net assets directly or indirectly in the securities included in the Index. The Fund invest in a representative sample of stocks included in the Index. The Fund's portfolio managers select these stocks using a statistical optimization process designed to produce investment characteristics that closely approximate those of the Index. At times, the Fund may invest in other investment companies, including exchange traded funds (ETFs), in order to access a particular asset class or market. FUND MANAGEMENT: Victory Capital Management, Inc. serves as the Fund's investment adviser.