Victory CEMP US EQ Income Enhanced Volatility Wtd Index ETF
ALTAR
Score™
8.8% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.8x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
4.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Victory CEMP US EQ Income Enhanced Volatility Wtd ETF tracks an index of 100 high-yield stocks pulled from the largest 500 US stocks, with an earnings screen and volatility weighting. The fund can hold up to 75% cash in downturns.

FUND BASICS
Category US Equities
Fund Sponsor Victory Capital Management
Website www.compassempfunds.com
Inception date Jul 02, 2014
Assets (mns) $617
Currency USD
Expense ratio 35 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Technical
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 99
Wgt avg mkt cap (mns) $57,252
Large cap (>$10bn) 80.5%
Mid cap ($2-10bn) 19.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DUKE ENERGY CORP 1.7 %
AMERICAN ELECTRIC POWER 1.6 %
WESTAR ENERGY INC 1.5 %
PPL CORPORATION 1.5 %
FIRSTENERGY CORP 1.5 %
MDU RESOURCES GROUP INC 1.4 %
PINNACLE WEST CAPITAL 1.4 %
EXELON CORP 1.4 %
WESTERN UNION CO 1.4 %
CONSOLIDATED EDISON INC 1.4 %
Total 14.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
IRELAND 1.9 %
BRITAIN 0.8 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.3% 13.3% 8.9% -- 9.5%

Market Correlations
versus... Beta R-squared
S&P500 0.80 79%
MSCI EAFE 0.75 58%
MSCI Emg. Mkts. 0.50 44%

Technical Indicators
Recent close $43.12
30d moving avg. $48.31
Annualized volatility 10.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 33

Liquidity measures
Avg. volume (thou.) 49
Turnover 0.3%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $26,302

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Victory CEMP US EQ Income Enhanced Volatility Wtd Index ETF ETF based on the alternatives' overlap in portfolio holdings with CDC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CDC Expense: 35 bp ALTAR Score™: 8.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CDC
Ticker Fund
Name
Overlap1
vs CDC
(%)
Expense
ratio
(bp)
Savings
vs CDC
(bp)
ALTAR
Score™
(%)
ALTAR
vs CDC
(%)
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 97.7 35 0 8.8 -0.0
TPHD Timothy Plan High Dividend Stock ETF 46.6 52 -17 7.3 -1.6
DTN WisdomTree U.S. Dividend ex-Financials Fund 42.7 38 -3 8.3 -0.5
DVY iShares Select Dividend ETF 41.4 39 -4 8.5 -0.3
USDY Pacific Global US Equity Income ETF 37.0 29 6 8.1 -0.7
SPYD SPDR S&P 500 High Dividend ETF 37.0 7 28 10.0 +1.2
DHS WisdomTree U.S. High Dividend Fund 35.2 38 -3 8.6 -0.3
OYLD Invesco Russell 1000 Yield Factor ETF 34.2 19 16 6.7 -2.1
SDOG ALPS Sector Dividend Dogs ETF 33.8 40 -5 10.4 +1.6
VYM Vanguard High Dividend Yield Index ETF 33.7 6 29 7.6 -1.2
RNDV US Equity Dividend Select ETF 33.2 50 -15 8.2 -0.6
JDIV JPMorgan U.S. Dividend ETF 33.0 12 23 7.8 -1.0
LVHD Legg Mason Low Volatility High Dividend ETF 32.5 27 8 7.0 -1.8
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 32.2 30 5 8.8 +0.0
ESGS Columbia Sustainable U.S. Equity Income ETF 31.8 35 0 9.2 +0.4
SPDV AAM S&P 500 High Dividend Value ETF 31.3 29 6 10.8 +2.0
FTA First Trust Large Cap Value AlphaDEX Fund 31.1 60 -25 9.2 +0.4
SPVM Invesco S&P 500 Value With Momentum ETF (old) 30.5 39 -4 9.4 +0.6
QDIV Global X S&P 500 Quality Dividend ETF 30.4 20 15 8.5 -0.3
ONEY SPDR Russell 1000 Yield Focus ETF 29.3 20 15 8.9 +0.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Victory CEMP US EQ Income Enhanced Volatility Wtd Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.5 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 CATEGORY
AVERAGE
1.56
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.