Investment objective & strategy
As of Oct. 24, 2025 · prospectusObjective. The VictoryShares Hedged Equity Income ETF (the Fund) seeks to provide capital appreciation with a secondary objective of current income.
Strategy. The Fund, under normal circumstances, has a policy to invest at least 80% of its assets in dividend paying domestic equity securities. The Fund uses a multi-strategy approach to achieve its principal investment strategy. First, it seeks income from long positions in U.S. dividend producing equity securities of any market capitalization size. Second, the Fund seeks to offset market risk by selling short high-correlating equity index futures contracts on broad-based market indexes, such as the S&P 500 Index, Russell 2000 Index, or Nasdaq-100 Index, or exchange-traded funds (ETFs) that track such indexes or similar strategies Victory Capital Management Inc. (the Adviser) deems appropriate under market conditions. The Adviser screens potential investments to identify those securities with positive trailing 12-month profitability … The Fund, under normal circumstances, has a policy to invest at least 80% of its assets in dividend paying domestic equity securities. The Fund uses a multi-strategy approach to achieve its principal investment strategy. First, it seeks income from long positions in U.S. dividend producing equity securities of any market capitalization size. Second, the Fund seeks to offset market risk by selling short high-correlating equity index futures contracts on broad-based market indexes, such as the S&P 500 Index, Russell 2000 Index, or Nasdaq-100 Index, or exchange-traded funds (ETFs) that track such indexes or similar strategies Victory Capital Management Inc. (the Adviser) deems appropriate under market conditions. The Adviser screens potential investments to identify those securities with positive trailing 12-month profitability at the time of initial purchase. From this universe, the Adviser seeks to select portfolio securities with above-average dividend yields compared to the investable universe. The Adviser will make additional adjustments to the security selection based on factors such as liquidity and taxes. By implementing this multi-strategy approach, the Fund seeks to offer approximately 50% broad U.S. equity market exposure, while seeking income from its investments and maintaining a reduced correlation to the U.S. equity market.
Top holdings
As of Dec. 31, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MERCK & CO | — | $726.72K | 1.99% |
| PEPSICO INC | — | $664.78K | 1.82% |
| VERIZON COMMUNICATIONS INC | — | $589.49K | 1.62% |
| ALTRIA GROUP INC | — | $568.99K | 1.56% |
| ONEMAIN HOLDINGS INC | — | $564.92K | 1.55% |
| GENERAL MILLS INC | — | $550.42K | 1.51% |
| EVERGY INC | — | $524.68K | 1.44% |
| PINNACLE WEST CAPITAL CORP | — | $522.98K | 1.43% |
| AMCOR PLC | — | $521.17K | 1.43% |
| FLOWERS FOODS INC | — | $510.63K | 1.40% |
Portfolio moves
Sep 30, 2025 → Dec 31, 2025How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| WisdomTree U.S. High Dividend Fund · DHS | 34% | 0.38% |
| iShares Select Dividend ETF · DVY | 33% | 0.38% |
| VictoryShares US Large Cap High Div Volatility Wtd ETF · CDL | 33% | 0.35% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
Footnotes
- Expense ratio as of October 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of December 31, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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