Victory Portfolios II VictoryShares Core Intermediate Bond ETF

This ETF is designed to achieve a significant level of current income while carefully managing risk to the initial investment. Under typical market conditions, the portfolio will predominantly invest in high-quality corporate debt and securities issued by the U.S. government. Its broad investment scope may include various governmental debt obligations (such as those from federal, state, and local authorities, including their agencies and instrumentalities); mortgage-backed and asset-backed securities; corporate bonds; repurchase agreements; and other financial instruments exhibiting debt-like characteristics. Notably, at least 35% of its net assets will generally be dedicated to government obligations. While the fund primarily focuses on investment-grade securities, it has the flexibility to allocate up to 5% of its net assets to lower-rated, below-investment-grade instruments, often known as high-yield or "junk" bonds.