Victory 500 Index Fund Member Shares 

The investment seeks to match, before fees and expenses, the performance of the stocks composing the Victory US Large Cap 500 Index. The fund's principal investment strategy is, under normal market conditions, to invest at least 80% of the fund's assets in the common stocks of companies composing the index. In seeking to track the performance of the index, the fund's subadviser attempts to allocate the fund's investments among stocks in approximately the same weightings as the index, beginning with the stocks that make up the larger portion of the index's value.