Fund Description: VictoryShares US Multi-Factor Minimum Volatility 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 US Multi-Factor Minimum Volatility ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Nasdaq Victory US Multi-Factor Minimum Volatility Index. INDEX DESCRIPTION: The Nasdaq Victory US Multi-Factor Minimum Volatility Index utilizes a rules-based approach designed to generate investment returns with less volatility than the broader U.S. market. The companies eligible for inclusion in the Index are derived from its starting universe, the mid- and large-capitalization U.S. companies included in the Nasdaq US Large Mid Cap Index (Parent Index), an index maintained by Nasdaq Inc., the Index Provider. The Parent Index consists of those U.S. companies with market caps representing the top 90% of the U.S. investable universe. The Index is designed to construct a diversified portfolio with superior risk-adjusted returns by first ranking companies using a number of proprietary fundamental factors, such as dividend yield, sales growth and other financial metrics that have been identified by a quantitative multi-factor selection process developed by the Adviser to identify the companies that are most likely to outperform the broader U.S. market. The companies in the top 20% of the ranking are included in the Index. FUND STRATEGY: The Fund generally seeks to track the returns of the Index before fees and expenses by employing a replication strategy that seeks to hold all of the stocks in the Index in proportion to their weightings in the Index. FUND MANAGEMENT: Victory Capital Management Inc. serves as the Fund's investment adviser.