Victory Ultra Short-Term Bond Inst UUSIX

The fund normally invests at least 80% of the fund's assets in investment-grade debt securities that have a dollar-weighted average portfolio maturity of 18 months or less. The fund invests primarily in U.S. dollar-denominated debt securities that may include, but are not limited to, obligations of U.S., state, and local governments, their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; repurchase agreements; Yankee obligations; and other securities believed to have debt-like characteristics.