XML 43 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName Victory Portfolios II
Prospectus Date rr_ProspectusDate Nov. 01, 2023
VictoryShares US 500 Volatility Wtd ETF  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <span style="color:#000000;font-family:Arial;font-size:20.50pt;font-weight:bold;">VictoryShares US 500 Volatility Wtd ETF Summary</span>
Objective [Heading] rr_ObjectiveHeading <span style="color:#000000;font-family:Arial;font-size:13.12pt;font-weight:bold;">Investment Objective</span>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The VictoryShares US 500 Volatility Wtd ETF (the “Fund”) seeks to provide investment results that track the performance of the Nasdaq Victory US Large Cap 500 Volatility Weighted Index (the “Index”) before fees and expenses.
Expense [Heading] rr_ExpenseHeading <span style="color:#000000;font-family:Arial;font-size:13.12pt;font-weight:bold;">Fund Fees and Expenses</span>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <span style="color:#000000;font-family:Arial;font-size:8.20pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:6.56pt;">(expenses that you pay each year as a percentage of the value of your investment)</span>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination <span style="color:#000000;font-family:Arial;font-size:6.56pt;">October 31, 2024</span>
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <span style="color:#000000;font-family:Arial;font-size:8.20pt;font-weight:bold;">Portfolio Turnover:</span>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover will generally indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund’s performance. For the most recent fiscal year, the Fund’s portfolio turnover rate was 24% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 24.00%
Expense Example [Heading] rr_ExpenseExampleHeading <span style="color:#000000;font-family:Arial;font-size:8.20pt;font-weight:bold;">Example:</span>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that (1) you invest $10,000 in the Fund for the time periods indicated and then sell or continue to hold all of your shares at the end of the period, (2) your investment has a 5% return each year, and (3) the Fund’s operating expenses remain the same. The amounts shown reflect any fee waiver/expense reimbursement in place through its expiration date. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading <span style="color:#000000;font-family:Arial;font-size:13.12pt;font-weight:bold;">Principal Investment Strategy</span>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets directly or indirectly in the securities included in the Nasdaq Victory US Large Cap 500 Volatility Weighted Index (the “Index”), an unmanaged, volatility weighted index maintained exclusively by Nasdaq, Inc. (the “Index Provider”). The Index Provider is not affiliated with the Fund or the Adviser.The Index combines fundamental criteria with individual security risk control achieved through volatility weighting of individual securities. The Index follows a rules-based methodology to construct its constituent securities:The Index universe begins with all publicly traded U.S. stocks and then screens for all companies with positive earnings over the last twelve months.The Index identifies the 500 largest U.S. stocks by market capitalization measured at the time the Index’s constituent securities are determined.The 500 stocks are weighted based on their daily standard deviation (volatility) of daily price changes over the last 180 trading days. Stocks with lower volatility receive a higher weighting and stocks with higher volatility receive a lower weighting.The Index is reconstituted every March and September (based on information as of the prior month-end) and is adjusted to limit exposure to any particular sector to 25%. The Index may include more than or fewer than 500 stocks depending on the number of companies meeting the Index’s criteria. As of September 30, 2023, the Index had a market capitalization range from $0.5 billion to $2.7 trillion.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’s investments are subject to the following principal risks:
Risk [Heading] rr_RiskHeading <span style="color:#000000;font-family:Arial;font-size:13.12pt;font-weight:bold;">Principal Risks of Investing in the Fund</span>
Risk [Text Block] rr_RiskTextBlock You may lose money by investing in the Fund. There is no guarantee that the Fund will achieve its objective. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.By itself, the Fund does not constitute a complete investment plan and should be considered a long-term investment for investors who can afford to weather changes in the value of their investment.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <span style="color:#000000;font-family:Arial;font-size:13.12pt;font-weight:bold;">Investment Performance</span>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table that follow are intended to help you understand some of the risks of investing in the Fund. The bar chart shows you how the Fund’s calendar year performance has varied over the past 10 years (or the life of the Fund if shorter). The table compares the Fund’s average annual total returns over the same period to one or more broad measures of market performance. We assume reinvestment of dividends and distributions.Updated performance information is available on the Fund’s website at vcm.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The bar chart and table that follow are intended to help you understand some of the risks of investing in the Fund.</span>
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">vcm.com</span>
Bar Chart [Heading] rr_BarChartHeading <span style="color:#000000;font-family:Arial;font-size:8.20pt;font-weight:bold;">Calendar Year Returns</span>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the chart:ReturnsQuarter endedHighest Quarter19.65%June 30, 2020Lowest Quarter-24.63%March 31, 2020Year-to-date return1.41%September 30, 2023
Performance Table Heading rr_PerformanceTableHeading <span style="color:#000000;font-family:Arial;font-size:7.38pt;font-weight:bold;margin-left:0.0pt;">Average Annual Total Returns</span><span style="color:#000000;font-family:Arial;font-size:7.38pt;font-weight:bold;margin-left:0.0pt;">(For the Periods Ended December 31, 2022)</span>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">After-tax returns use the historical highest individual federal marginal income tax rates and do not reflect the effect of state and local taxes. </span>
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">After-tax returns shown are not relevant if you own your Fund shares through </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.</span>
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock After-tax returns use the historical highest individual federal marginal income tax rates and do not reflect the effect of state and local taxes. In certain situations, the return after taxes on distributions and sale of fund shares may be higher than the other return amounts. A higher after-tax return may result when a capital loss occurs upon redemption and translates into an assumed tax deduction that benefits the shareholder. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you own your Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
VictoryShares US 500 Volatility Wtd ETF | Risk Lose Money [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock You may lose money by investing in the Fund.
VictoryShares US 500 Volatility Wtd ETF | Risk Not Insured Depository Institution [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
VictoryShares US 500 Volatility Wtd ETF | Equity Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Equity Securities Risk — The value of the equity securities in which the Fund invests may decline in response to developments affecting individual companies and/or general economic conditions in the United States or abroad. A company’s earnings or dividends may not increase as expected (or may decline) because of poor management, competitive pressures, reliance on particular suppliers or geographical regions, labor problems or shortages, corporate restructurings, fraudulent disclosures, man-made or natural disasters, military confrontations or wars, terrorism, public health crises, or other events, conditions, and factors. Price changes may be temporary or last for extended periods.
VictoryShares US 500 Volatility Wtd ETF | Market Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Market Risk — Overall market risks may affect the value of the Fund. Domestic and international factors such as political events, war, terrorism, trade disputes, inflation rates, interest rate levels, and other fiscal and monetary policy changes; cybersecurity incidents, pandemics, and other public health crises; sanctions against a particular foreign country, its nationals, businesses, or industries; and related geopolitical events, as well as environmental disasters such as earthquakes, fires, and floods, or other catastrophes, may add to instability in global economies and markets generally, and may lead to increased market volatility. Global economies and financial markets are highly interconnected, which increases the possibility that conditions in one country or region might adversely affect issuers in another country or region. The impact of these and other factors may be short-term or may last for extended periods.
VictoryShares US 500 Volatility Wtd ETF | Large Capitalization Stock Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Large-Capitalization Stock Risk — The securities of large-sized companies may underperform the securities of smaller-sized companies or the market as a whole. The growth rate of larger, more established companies may lag those of smaller companies, especially during periods of economic expansion.
VictoryShares US 500 Volatility Wtd ETF | Index Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Index Risk — The Fund attempts to track the performance of the Index. The Fund’s performance will be negatively affected by general declines in the securities and asset classes represented in the Index. In addition, because the Fund is not actively managed, unless a specific security is removed from the Index, the Fund generally will not sell a security because the security’s issuer was in financial trouble. The Fund also does not attempt to take defensive positions under any market conditions, including declining markets. Therefore, the Fund’s performance could be lower than funds that may actively shift their portfolio assets to take advantage of market opportunities or to lessen the impact of a market decline or a decline in the value of one or more issuers.
VictoryShares US 500 Volatility Wtd ETF | Passive Investment Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Passive Investment Risk — The Fund is not actively managed, and the Adviser does not take defensive positions under any market conditions, including declining markets.
VictoryShares US 500 Volatility Wtd ETF | Calculation Methodology Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Calculation Methodology Risk — The Index relies on various sources of information to assess the criteria of issuers included in the Index, including information that may be based on assumptions and estimates. Neither the Fund, the Index Provider, nor the Adviser can offer assurances that the Index’s calculation methodology or sources of information will provide an accurate assessment of included issuers or correct valuation of securities, nor can they guarantee the availability or timeliness of the production of the Index.
VictoryShares US 500 Volatility Wtd ETF | Tracking Error Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Tracking Error Risk — The Fund may be subject to tracking error, which is the divergence of the Fund’s performance from its index. Tracking error may occur because of, among other reasons, differences between the securities and other instruments held in the Fund’s portfolio and those included in the Index. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because the Fund incurs fees and expenses, while the Index does not.
VictoryShares US 500 Volatility Wtd ETF | Rebalancing Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Rebalancing Risk — In purchasing and selling securities to rebalance its portfolio, the Fund will pay more in brokerage commissions than it would without a rebalancing policy. As a result of the need to rebalance, the Fund also has less flexibility in the timing of purchases and sales of securities than it would otherwise, and the rebalancing may result in high portfolio turnover. While we will attempt to minimize any adverse impact to the Fund or its shareholders, the Fund may have a higher proportion of capital gains and a lower return than a fund that does not have a rebalancing policy. Errors in index data, index computations or the construction of the index in accordance with its methodology may occur from time to time and may not be identified and corrected by the Index Provider for a period of time or at all, which may have an adverse impact on the Fund and its shareholders.
VictoryShares US 500 Volatility Wtd ETF | Exchange Traded Fund ETF Structure Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Exchange-Traded Fund (“ETF”) Structure Risk — The Fund is structured as an ETF and, as a result, is subject to special risks, including:
VictoryShares US 500 Volatility Wtd ETF | Not Individually Redeemable [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Not Individually Redeemable — The Fund’s shares are not individually redeemable and may be redeemed by the Fund at its net asset value per share (“NAV”) only in large blocks known as Creation Units. The Fund may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Alternatively, the Fund may redeem your shares by selling them on the secondary market at prevailing market prices.
VictoryShares US 500 Volatility Wtd ETF | Trading Issues [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Trading Issues — Trading in shares on the exchange operated by Nasdaq Stock Market LLC (the “Exchange”) may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet the listing requirements of the Exchange. There is no guarantee that an active secondary market will develop for the shares. In stressed market conditions, authorized participants may be unwilling to participate in the creation/redemption process, particularly if the market for shares becomes less liquid in response to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings, which may lead to widening of bid-ask spreads and differences between the market price of the shares and the underlying value of those shares.
VictoryShares US 500 Volatility Wtd ETF | Market Price Variance Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Market Price Variance Risk — The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and will include a bid-ask spread charged by the exchange specialists, market makers, or other participants that trade the particular security. There may be times when the market price and the NAV vary significantly, particularly in times of market stress. This means that shares may trade at a premium or discount to NAV and bid-ask spreads may widen.
VictoryShares US 500 Volatility Wtd ETF | Authorized Participants Concentration Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Authorized Participants Concentration Risk — A limited number of financial institutions may be responsible for all or a significant portion of the creation and redemption activity for the Fund. If these firms exit the business or are unable or unwilling to process creation and/or redemption orders, shares may trade at a premium or discount to NAV and bid-ask spreads may widen.
VictoryShares US 500 Volatility Wtd ETF | Intraday Indicative Value IIV Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Intraday Indicative Value (“IIV”) Risk — The Exchange intends to disseminate the approximate per share value of the Fund’s published basket of securities (“Deposit Securities”) every 15 seconds (the “intraday indicative value” or “IIV”). The IIV is not a real-time update of the NAV per share of the Fund because the IIV may not be calculated in the same manner as the NAV. For example, the calculation of the NAV may be subject to fair valuation at different prices than those used in the calculations of the IIV and, unlike the calculation of NAV, the IIV does not take into account Fund expenses. The IIV calculations are based on local market prices and may not reflect events that occur subsequent to the local market’s close which could affect premiums and discounts between the IIV and the market price of the shares. In addition, the IIV is based on the published Deposit Securities and not on the Fund’s actual holdings.
VictoryShares US 500 Volatility Wtd ETF | Tax Efficiency Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Tax-Efficiency Risk — Redemptions of shares may be effected for cash, rather than in kind, which means that the Fund may need to sell portfolio securities in order to complete an in-cash redemption, and may recognize net gains on these sales. As a result, investments in the shares may be less tax-efficient than investments in ETFs that redeem solely or principally in kind, and the Fund may pay out higher annual capital gain distributions than if the in-kind redemption process was used.
VictoryShares US 500 Volatility Wtd ETF | Valuation Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Valuation Risk — The sale price the Fund could receive for a security may differ from the Fund’s valuation of the security and may differ from the value used by the Index, particularly for securities that trade in low volume or volatile markets or that are valued using a fair value methodology. The Fund relies on various sources to calculate its NAV. The information may be provided by third parties that are believed to be reliable, but the information may not be accurate due to errors by such pricing sources, technological issues, or otherwise.
VictoryShares US 500 Volatility Wtd ETF | VictoryShares US 500 Volatility Wtd ETF  
Risk Return Abstract rr_RiskReturnAbstract  
Shareholder Fees (paid directly from your investment) rr_ShareholderFeeOther none
Management Fees rr_ManagementFeesOverAssets 0.30%
Other Expenses rr_OtherExpensesOverAssets 0.09%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.39%
Fee Waiver/Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.04%) [1]
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement rr_NetExpensesOverAssets 0.35% [1]
1 Year rr_ExpenseExampleYear01 $ 36
3 Years rr_ExpenseExampleYear03 121
5 Years rr_ExpenseExampleYear05 215
10 Years rr_ExpenseExampleYear10 $ 489
2015 rr_AnnualReturn2015 (0.51%)
2016 rr_AnnualReturn2016 14.41%
2017 rr_AnnualReturn2017 22.38%
2018 rr_AnnualReturn2018 (8.61%)
Annual Return 2019 rr_AnnualReturn2019 30.32%
Annual Return 2020 rr_AnnualReturn2020 11.91%
Annual Return 2021 rr_AnnualReturn2021 26.07%
Annual Return 2022 rr_AnnualReturn2022 (11.28%)
Year to Date Return, Label rr_YearToDateReturnLabel <span style="color:#000000;font-family:Arial;font-size:8.20pt;margin-left:0.0pt;">Year-to-date return</span>
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2023
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 1.41%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <span style="color:#000000;font-family:Arial;font-size:8.20pt;margin-left:0.0pt;">Highest Quarter</span>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.65%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <span style="color:#000000;font-family:Arial;font-size:8.20pt;margin-left:0.0pt;">Lowest Quarter</span>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.63%)
1 Year rr_AverageAnnualReturnYear01 (11.28%)
5 Years rr_AverageAnnualReturnYear05 8.31%
Life of Fund rr_AverageAnnualReturnSinceInception 9.57% [2]
VictoryShares US 500 Volatility Wtd ETF | After Taxes on Distributions | VictoryShares US 500 Volatility Wtd ETF  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (11.62%)
5 Years rr_AverageAnnualReturnYear05 7.96%
Life of Fund rr_AverageAnnualReturnSinceInception 9.22% [2]
VictoryShares US 500 Volatility Wtd ETF | After Taxes on Distributions and Sale of Fund Shares | VictoryShares US 500 Volatility Wtd ETF  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (6.44%)
5 Years rr_AverageAnnualReturnYear05 6.51%
Life of Fund rr_AverageAnnualReturnSinceInception 7.73% [2]
VictoryShares US 500 Volatility Wtd ETF | S&P 500® Index reflects no deduction for fees, expenses, or taxes  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (18.11%)
5 Years rr_AverageAnnualReturnYear05 9.42%
Life of Fund rr_AverageAnnualReturnSinceInception 10.21% [2]
VictoryShares US 500 Volatility Wtd ETF | Nasdaq Victory US Large Cap 500 Volatility Weighted Index reflects no deduction for fees, expenses, or taxes  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (10.95%)
5 Years rr_AverageAnnualReturnYear05 8.69%
Life of Fund rr_AverageAnnualReturnSinceInception 9.97% [2]
[1] Victory Capital Management Inc. (the “Adviser”) has contractually agreed to waive its management fee and/or reimburse expenses so that the total annual fund operating expenses (excluding certain items such as interest, taxes, and brokerage commissions) do not exceed 0.35% through at least October 31, 2024. The Adviser is permitted to recoup advisory fees waived and expenses reimbursed for up to three years after the date of the waiver or reimbursement, subject to the lesser of any operating expense limits in effect at the time of (a) the original waiver or expense reimbursement; or (b) the recoupment, after giving effect to the recoupment amount. This agreement may only be terminated by the Fund’s Board of Trustees.
[2] Inception date is July 2, 2014.