p id="xdx_A8E_eoef--StrategyNarrativeTextBlock_zeSJkREcVH02" style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"Under normal circumstances, the Fund seeks to achieve its investment objective by investing at least 80% of its assets directly or indirectly in the securities included in the Victory Free Cash Flow Growth BRI Index (the “Index”). VettaFi LLC (the “Index Provider”) constructs the Index in accordance with a rules-based methodology that screens for positive free cash flow and selects 50 growth companies with the highest score (each as described below) within the Victory US Large/Mid Cap Volatility Weighted BRI Index (the “Parent Index”). The Parent Index universe begins with the stocks included in the Nasdaq Victory US Large Cap 500 Volatility Weighted Index, a volatility weighted index comprised of the 500 largest U.S. companies by market capitalization with positive earnings over the last twelve months. As of March 31, 2026, the Parent Index had a market capitalization range from $4.31billion to 1.47 trillion. The actual range of market capitalization will vary over time according to changes in market capitalization of the securities in the Parent Index. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"The Index Provider is not affiliated with the Fund, the Adviser or the Sub-Adviser. The Index is designed to deliver exposure to equity securities of large-capitalization U.S. issuers of growth companies. To be included in the Index, these U.S. large-capitalization growth companies generally will have a positive “free cash flow growth trend” and have a high “free cash flow return on invested capital.” The initial Index universe is derived from the component companies of the Parent Index, excluding financial companies and real estate investment trusts. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"“Free Cash Flow on Invested Capital” is a financial valuation metric that compares the free cash flow a company is expected to earn against its invested capital. The ratio is calculated by taking the free cash flow divided by invested capital, which is comprised of shareholder equity and long-term debt. The Index Provider screens the initial universe of companies based on their projected free cash flows and earnings. Companies with negative projected free cash flows or earnings are removed from the Index universe. Companies are then evaluated to remove any stocks that have a negative “free cash flow growth trend.” A negative “free cash flow growth trend” is defined as a decreasing trend in free cash flow generation over the trailing five years. Conversely, a positive “free cash flow growth trend” is defined as an increasing trend in free cash flow generation over the trailing five years. The remaining companies are ranked by their ratio of free cash flow on invested capital. A growth score is then derived from each company’s growth metrics (evaluated using sales and EBITDA trends, and consensus analyst estimated long-term growth projections) for the 75 companies with the highest free cash flow on invested capital. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"The 50 companies with the highest growth scores are selected by the Index Provider for inclusion in the Index. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"img alt="" src="tp_37.jpg"/ /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"The rules-based methodology assigns weightings by measuring a combination of total free cash flow and “absolute momentum,” which is defined as the absolute value of a company’s trailing 12-month, risk-adjusted total return and accounts for the magnitude of price fluctuations over the specified period without regard to whether the return is positive or negative. Individual companies are capped at 4% of the Index. The rules-based methodology also limits the amount of companies in any one sector. That is, companies in any one sector will not exceed 45% of the Index. In addition, the allocation of companies in any single sector (or “weighting”) will not exceed a weighting of more than 20% greater than the weighting of that sector in the Parent Index. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"The Fund will not invest in Excluded Securities. Excluded Securities are securities issued by any company that is involved in the production or wholesale distribution of alcohol, tobacco, or gambling equipment, gambling enterprises, or which is involved, either directly or indirectly, in abortion or pornography, or promoting anti-family entertainment or/p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"unbiblical lifestyles. The Fund also reserves the right to exclude investments, in its best judgment, in other companies whose practices may not fall within the exclusions described above, but can be found offensive to basic, traditional Judeo-Christian values. In the event a company is subsequently discovered to be engaged in a prohibited practice, the Fund’s holdings in such company will be liquidated at the next re-balancing. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"The Index and Fund each reconstitute every April/October and rebalance quarterly. /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"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 the stocks in the Index. The Fund also may invest up to 20% of its assets in instruments other than the securities in the Index, such as derivatives, including index futures, which the Fund may use for cash management to provide for liquidity to pay redemptions and fees (attempting to remain fully invested while maintaining liquidity). /p p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center" /p p style="font: 11pt Times New Roman, Times, Serif; text-align: left; margin-left: 0pt; text-indent: 0pt; margin-bottom: 0pt; margin-top: 0pt"The Fund will concentrate its investments (i.e., hold more than 25% of its assets) in a particular industry or group of industries to the extent that the Index is concentrated. As of the date of this Prospectus, the Fund is not concentrated in any industry or group of industries. The degree to which certain sectors, industries, or asset classes are represented in the Index may change over time. As of the date of this Prospectus, the Index has significant exposure to the industrials and information technology sectors. /p