SCHEDULE A
TO THE EXPENSE LIMITATION AGREEMENT DATED MAY 1, 2021
BETWEEN
VICTORY PORTFOLIOS II AND VICTORY CAPITAL MANAGEMENT INC.
OPERATING EXPENSE LIMITS AS OF MAY 19, 2026
|
Maximum |
|
|
|
Operating |
|
Effective Date of |
Fund/Class |
Expense Limit |
Date of Termination |
Waiver |
Victory Market Neutral Income Fund |
|
|
|
|
|
|
|
Class A |
0.76% |
October 31, 2026 |
November 1, 2025 |
Class C |
1.51% |
October 31, 2026 |
November 1, 2025 |
Class I |
0.41% |
October 31, 2026 |
November 1, 2025 |
Member Class |
0.56% |
October 31, 2026 |
November 1, 2025 |
|
|
|
|
VictoryShares US 500 Volatility Wtd |
0.35% |
October 31, 2026 |
November 1, 2025 |
ETF |
|
|
|
|
|
|
|
VictoryShares US 500 Enhanced |
0.35% |
October 31, 2026 |
November 1, 2025 |
Volatility Wtd ETF |
|
|
|
|
|
|
|
VictoryShares US EQ Income |
0.35% |
October 31, 2026 |
November 1, 2025 |
Enhanced Volatility Wtd ETF |
|
|
|
VictoryShares US Large Cap High Div |
0.35% |
October 31, 2026 |
November 1, 2025 |
Volatility Wtd ETF |
|
|
|
|
|
|
|
VictoryShares US Small Cap High Div |
0.35% |
October 31, 2026 |
November 1, 2025 |
Volatility Wtd ETF |
|
|
|
|
|
|
|
VictoryShares Dividend Accelerator |
0.35% |
October 31, 2026 |
November 1, 2025 |
ETF |
|
|
|
|
|
|
|
VictoryShares US Multi-Factor |
0.35% |
October 31, 2026 |
November 1, 2025 |
Minimum Volatility ETF |
|
|
|
|
|
|
|
VictoryShares Core Intermediate |
0.25% |
October 31, 2027 |
February 25, 2026 |
Bond ETF |
|
|
|
|
|
|
|
VictoryShares Short-Term Bond ETF |
0.35% |
October 31, 2026 |
November 1, 2025 |
|
|
|
|
VictoryShares Emerging Markets |
0.45% |
October 31, 2026 |
November 1, 2025 |
Value Momentum ETF |
|
|
|
|
|
|
|
VictoryShares International Value |
0.35% |
October 31, 2026 |
November 1, 2025 |
Momentum ETF |
|
|
|
|
|
|
|
VictoryShares US Small Mid Cap |
0.25% |
October 31, 2026 |
November 1, 2025 |
Value Momentum ETF |
|
|
|
|
|
|
|
VictoryShares US Value Momentum |
0.20% |
October 31, 2026 |
November 1, 2025 |
ETF |
|
|
|
|
|
|
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
B-1
|
Maximum |
|
|
|
Operating |
|
Effective Date of |
Fund/Class |
Expense Limit |
Date of Termination |
Waiver |
VictoryShares Core Plus Bond ETF |
0.40% |
October 31, 2026 |
November 1, 2025 |
|
|
|
|
VictoryShares Corporate Bond ETF |
0.40% |
October 31, 2026 |
November 1, 2025 |
|
|
|
|
VictoryShares WestEnd U.S. Sector |
0.46% |
October 31, 2026 |
November 1, 2025 |
ETF |
|
|
|
|
|
|
|
VictoryShares Free Cash Flow ETF |
0.39% |
October 31, 2026 |
November 1, 2025 |
|
|
|
|
VictoryShares Small Cap Free Cash |
0.49% |
October 31, 2026 |
November 1, 2025 |
Flow ETF |
|
|
|
|
|
|
|
VictoryShares WestEnd Global Equity |
0.60% |
October 31, 2026 |
November 1, 2025 |
ETF |
|
|
|
|
|
|
|
VictoryShares WestEnd Dynamic |
0.70% |
October 31, 2026 |
November 1, 2025 |
Equity ETF |
|
|
|
|
|
|
|
VictoryShares Free Cash Flow |
0.39% |
October 31, 2026 |
November 1, 2025 |
Growth ETF |
|
|
|
|
|
|
|
VictoryShares International Free |
0.56% |
October 31, 2026 |
November 1, 2025 |
Cash Flow ETF |
|
|
|
|
|
|
|
VictoryShares International Free |
0.56% |
October 31, 2026 |
November 1, 2025 |
Cash Flow Growth ETF |
|
|
|
|
|
|
|
VictoryShares Pioneer Asset-Based |
0.65% |
October 31, 2026 |
November 1, 2025 |
Income ETF |
|
|
|
|
|
|
|
VictoryShares Pioneer Active Credit |
0.45% |
October 31, 2027 |
May 19, 2026 |
ETF |
|
|
|
|
|
|
|
VictoryShares Pioneer Equity |
0.39% |
October 31, 2027 |
May 19, 2026 |
Premium Income ETF |
|
|
|
|
|
|
|
VictoryShares Pioneer Mortgage- |
0.19% |
October 31, 2027 |
May 19, 2026 |
Backed Securities ETF |
|
|
|
|
|
|
|
VictoryShares Municipal High Yield |
0.34% |
October 31, 2027 |
May 19, 2026 |
ETF |
|
|
|
|
|
|
|
VictoryShares Short-Duration |
0.18% |
October 31, 2027 |
May 19, 2026 |
Municipal ETF |
|
|
|
|
|
|
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
B-2