Download VictoryShares US Multi-Factor Minimum Volatility ETF

VictoryShares US Multi-Factor Minimum
Volatility ETF
As of June 22, 2017
Offers exposure to large- and mid-cap US stocks in a portfolio
that seeks to minimize volatility and maximize risk-adjusted
returns.
Seeks to provide investment results that track the performance
of the Nasdaq Victory US Multi-Factor Minimum Volatility Index
before fees and expenses.
About the Nasdaq Victory US Multi-Factor Minimum
Volatility Index
 Employs a two-step approach that aims to deliver superior risk-adjusted equity returns,
while seeking to minimize the overall portfolio volatility.

Uses a screening model based on fundamental factors—such as earnings quality,
momentum, profitability, and valuation—to help identify stocks most likely to
outperform.

Seeks to minimize overall portfolio volatility by weighting stocks based on the
correlation of assets and a series of constraints.

The index is reconstituted/rebalanced semi-annually.
FUND CHARACTERISTICS
Ticker Symbol
CUSIP Number
IIV Ticker
Primary Listing
Expense Ratio Net
Inception Date
Number of Holdings
Average Market Capitalization
Average P/E Ratio
Standard Deviation
Sharpe Ratio
R-Squared
VSMV
92647N691
VSMV.IV
NASDAQ
0.35
6/22/2017
62
$139B
21.0
N/A
N/A
N/A
Number of Holdings, Mkt Cap and P/E Ratio
represent the underlying index as of 5/31/2017
Why VSMV?
 Seeks to provide a smoother path to long-term capital appreciation.
 For a next-generation approach to low-volatility investing, as stocks are selected based
on a multi-factor screening process, and then the portfolio is optimized with the goal of
minimizing volatility.

For a disciplined, low-cost exposure to core US equities while seeking to minimize
overall portfolio risk.

Designed to be used as core portfolio or broad market replacement.
ABOUT VICTORYSHARES
VictoryShares is a specialist ETF provider with a focus on rulesbased solutions that seek to bridge the gap between active and
passive. Our ETFs are brought to you by Victory Capital, an
integrated multi-boutique investment manager.
SECTOR WEIGHTING
n Financials
n Industrials
n Consumer Discretionary
n Information Technology
n Health Care
n Consumer Staples
n Utilities
n Materials
n Energy
n Telecommunication Services
n Real Estate
18.0%
14.2%
11.0%
16.4%
10.3%
19.6%
2.9%
2.9%
1.2%
3.1%
0.4%
Sector Weighting represents the underlying index
as of 5/31/2017
VictoryShares US Multi-Factor Minimum
Volatility ETF As of June 22, 2017
Top 10 Holdings
Market Cap
($B)
Weighting
(%)
Bottom 10 Holdings
Market Cap
($B)
Weighting
(%)
Apple Inc.
795.2
5.1
Darden Restaurants, Inc.
11.1
0.3
Microsoft Corporation
539.4
4.3
New Residential Investment Corp.
4.9
0.3
Johnson & Johnson
345.6
4.1
Six Flags Entertainment Corporation
5.5
0.3
Lockheed Martin Corporation
81.4
3.5
Allstate Corporation
31.5
0.3
Raytheon Company
47.7
3.4
Bunge Limited
11.2
0.2
PepsiCo, Inc.
167.1
3.3
Expeditors International of Washington, Inc.
9.6
0.2
McDonald's Corporation
123.0
3.3
CenterPoint Energy, Inc.
Everest Re Group, Ltd.
10.5
3.2
3M Company
236.9
3.1
32.2
3.1
AT&T Inc.
Waste Management, Inc.
12.3
0.2
122.1
0.2
Spirit AeroSystems Holdings, Inc. Class A
6.6
0.1
Williams-Sonoma, Inc.
4.2
0.1
Holdings represent the underlying index as of 5/31/2017.
ANNUALIZED RATE OF RETURN
Quarter
YTD
1 Year
5 Year
Since
Inception*
Net Asset Value (NAV)
–
–
–
–
–
Closing Market Price
–
–
–
–
–
–
–
–
–
–
VictoryShares US Multi-Factor Minimum Volatility ETF
Expense Ratio
Gross
Net
0.71%
0.35%
Indexes for Comparison
Nasdaq Victory US Multi-Factor Minimum Volatility Index
* June 22, 2017.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may
be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth
more or less than the original cost. To obtain performance information current to the most recent month-end, please call the Fund at
1-866-376-7890. ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. The market price
used to calculate the Closing Market Price is the last trade as of the time that the Fund’s NAV is calculated. If you trade your shares at another time,
your return may differ. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an unmanaged index.
Fund characteristics, sector weightings, and holdings allocations will differ as of June 22, 2017 and may not represent the underlying index data
presented.
An investor should consider the Fund’s investment objectives,
risks, charges and expenses carefully before investing or
sending money. This and other important information about
the Fund can be found in the Fund’s prospectus, or, if
applicable, the summary prospectus. To obtain a copy, please
visit www.victorysharesliterature.com, call your Financial
Advisor, or call shareholder services at 1.866.376.7890. Read
the prospectus carefully before investing.
Investing involves risk, including the potential loss of principal.
There is no guarantee that the Fund will achieve its investment
objective or that the strategies will be successful. The Fund has
the same risks as the underlying securities traded on the
exchange throughout the day. Redemptions are limited, and
commissions are often charged on each trade. ETFs may trade
at a premium or discount to their net asset value. The Fund is
not actively managed and may be affected by a general decline
in market segments related to the Index. The Fund invests in
securities included in, or representative of securities included in,
the Index, regardless of their investment merits. The
performance of the Fund may diverge from that of the Index.
The Adviser has contractually agreed to waive a portion of its
management fee and/or reimburse certain expenses through at least
October 31, 2018. The Adviser is permitted to recoup fees
waived/expenses reimbursed for up to 3 years after the fiscal year in
which the waiver/reimbursement took place, subject to certain
limitations. Please read the prospectus for details.
Fund holdings and sector allocations are subject to change, may differ
www.victoryshares.com // 800.991.8191
from the Index, and should not be considered investment advice.
Standard deviation is applied to the annual rate of return of an
investment to measure the investment’s volatility. Investors also use it
as a gauge for the amount of expected volatility. R-squared values can
range from 0.00 to 1.00, with the market index at 1.00. Sharpe ratio is
the average return earned in excess of the risk-free rate per unit of
volatility or total risk. Price-to-earnings ratio (P/E ratio) is the ratio for
valuing a company that measures its current share price relative to its
per-share earnings. Multi-factor strategies combine several
academically accepted characteristics—such as momentum, quality,
value and growth, among others—in an investment strategy in an effort
to achieve more consistent performance over time.
VictoryShares ETFs are distributed by Foreside Fund Services, LLC,
member FINRA and SIPC. Victory Capital Management Inc. is the
adviser to the VictoryShares ETFs. Victory Capital is not affiliated with
Foreside Fund Services, LLC.
NOT A DEPOSIT  NOT FDIC OR NCUA INSURED  MAY LOSE
VALUE  NO BANK OR CREDIT UNION GUARANTEE
©2017 Victory Capital Management