VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF
ALTAR
Score™		 7.6% info Recommen-
dation		 SPECULATIVE
2021E    2022E
P/E
ratio		 14.0x P/Sales
ratio		 1.5x
P/BV
ratio		 1.9x Div.
yield		 3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VictoryShares 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 01, 2014
Assets (mns) $717
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) $57,146
Large cap (>$10bn) 92.3%
Mid cap ($2-10bn) 7.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
VERIZON COMMUNICATIONS INC 1.5 %
SEAGATE TECHNOLOGY 1.4 %
CATERPILLAR INC 1.4 %
ABBVIE INC 1.3 %
ARCHER-DANIELS-MIDLAND CO 1.3 %
EASTMAN CHEMICAL COMPANY 1.2 %
CBS CORP-CLASS B NON VOTING 1.2 %
CVS CAREMARK CORP 1.2 %
NETAPP INC 1.2 %
COCA-COLA CO/THE 1.2 %
Total 13.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.1 %
IRELAND 2.4 %
BRITAIN 0.9 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
6.0% 39.3% 13.2% -- 11.4%

Market Correlations
versus... Beta R-squared
S&P500 0.69 70%
MSCI EAFE 0.64 58%
MSCI Emg. Mkts. 0.49 43%

Technical Indicators
Recent close $56.93
30d moving avg. $56.13
Annualized volatility 15.3%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.5%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 43
Turnover 0.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $33,161

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the VictoryShares 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™: 7.6%


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 VictoryShares US Large Cap High Dividend Volatility Wtd Idx 98.4 35 0 7.5 -0.0
DVY iShares Select Dividend ETF 46.6 39 -4 7.6 +0.0
FTA First Trust Large Cap Value AlphaDEX Fund 45.6 60 -25 7.2 -0.4
TPHD Timothy Plan High Dividend Stock ETF 44.4 52 -17 5.7 -1.9
DTN WisdomTree U.S. Dividend ex-Financials Fund 43.5 38 -3 7.1 -0.4
SPYD SPDR S&P 500 High Dividend ETF 41.0 7 28 8.5 +0.9
JKI iShares Morningstar Mid-Cap Value ETF 37.0 30 5 6.9 -0.6
VYM Vanguard High Dividend Yield Index ETF 36.7 6 29 6.8 -0.7
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 35.3 30 5 7.7 +0.1
ESGS Columbia Sustainable U.S. Equity Income ETF 34.6 35 0 7.5 -0.0
RPV Invesco S&P 500 Pure Value ETF 34.4 35 0 9.1 +1.5
RNDV US Equity Dividend Select ETF 33.4 50 -15 7.2 -0.4
DHS WisdomTree U.S. High Dividend Fund 32.3 38 -3 8.2 +0.6
SDOG ALPS Sector Dividend Dogs ETF 32.3 40 -5 8.1 +0.6
VTV Vanguard Value Index Fund 31.5 4 31 6.6 -1.0
VOOV Vanguard S&P 500 Value ETF 31.5 10 25 6.2 -1.3
FDL First Trust Morningstar Dividend Leaders Index Fund 31.3 45 -10 9.0 +1.4
LVHD Legg Mason Low Volatility High Dividend ETF 30.7 27 8 7.9 +0.3
FUNL CornerCap Fundametrics Large-Cap ETF 30.7 50 -15 7.2 -0.4
SPDV AAM S&P 500 High Dividend Value ETF 30.2 29 6 7.8 +0.3
ONEY SPDR Russell 1000 Yield Focus ETF 30.1 20 15 6.3 -1.3
JKF iShares Morningstar Large Cap Value ETF 29.7 25 10 6.9 -0.7
SCHD Schwab U.S. Dividend Equity ETF 29.6 6 29 7.0 -0.5
MGV Vanguard Mega Cap Value ETF 29.4 7 28 6.6 -1.0
JDIV JPMorgan U.S. Dividend ETF 29.1 12 23 6.5 -1.1
MAGA Point Bridge GOP Stock Tracker ETF 28.6 72 -37 5.2 -2.3
FDRR Fidelity Dividend ETF for Rising Rates 28.3 29 6 6.1 -1.4
VFVA Vanguard U.S. Value Factor ETF 27.6 14 21 8.2 +0.7
SPYV SPDR Portfolio S&P 500 Value ETF 27.5 4 31 6.3 -1.3
IVE iShares S&P 500 Value ETF 27.5 18 17 6.1 -1.4
DLN WisdomTree U.S. LargeCap Dividend Fund 26.6 28 7 6.4 -1.2
AUSF Global X Adaptive U.S. Factor ETF 26.6 27 8 7.8 +0.2
EQWL Invesco Russell Top 200 Equal Weight ETF 26.4 25 10 5.8 -1.7
SPVU Invesco S&P 500 Enhanced Value ETF 26.4 13 22 8.9 +1.4
FCTR First Trust Lunt U.S. Factor Rotation ETF 26.3 65 -30 4.3 -3.3
KVLE KFA Value Liner Dynamic Core Equity Index ETF 26.2 56 -21 5.8 -1.7
DTD WisdomTree U.S.Total Dividend Fund 26.2 28 7 6.4 -1.1
IUSV iShares Core S&P U.S. Value ETF 26.1 4 31 6.3 -1.3
DEW WisdomTree Global High Dividend Fund 25.8 58 -23 8.6 +1.0
DIVB iShares U.S. Dividend & Buyback ETF 25.6 25 10 6.0 -1.6
SCHV Schwab U.S. Large-Cap Value ETF 25.6 4 31 6.1 -1.5
QDIV Global X S&P 500 Quality Dividend ETF 25.3 20 15 6.6 -0.9
VOE Vanguard Mid-Cap Value Index Fund 25.2 7 28 6.3 -1.2
RAFE PIMCO RAFI ESG U.S. ETF 25.1 30 5 6.7 -0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 25.1 25 10 5.6 -1.9
SPVM Invesco S&P 500 Value with Momentum ETF 24.9 39 -4 7.7 +0.1
JVAL JPMorgan U.S. Value Factor ETF 24.9 12 23 7.1 -0.5
GBDV Global Beta Smart Income ETF 24.7 29 6 7.8 +0.2
LSLT Salt Low truBeta US Market ETF 24.5 60 -25 5.9 -1.7
FAB First Trust Multi Cap Value AlphaDEX Fund 24.4 71 -36 7.2 -0.3
FEX First Trust Large Cap Core AlphaDEX Fund 24.3 60 -25 4.9 -2.6
VONV Vanguard Russell 1000 Value Index Fund 24.3 8 27 6.1 -1.5
NULV Nuveen ESG Large-Cap Value ETF 24.0 35 0 6.2 -1.4
PRF Invesco FTSE RAFI US 1000 ETF 24.0 39 -4 5.7 -1.9
PWV Invesco Dynamic Large Cap Value ETF 23.8 56 -21 7.0 -0.6
DGRO iShares Core Dividend Growth ETF 23.6 8 27 6.4 -1.2
IWX iShares Russell Top 200 Value ETF 23.4 20 15 6.1 -1.4
RWL Invesco S&P 500 Revenue ETF 23.4 39 -4 6.1 -1.5
PY Principal Shareholder Yield Index ETF 23.3 15 20 7.5 -0.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 23.3 25 10 5.5 -2.0
RYF Invesco S&P 500 Equal Weight Financials ETF 23.1 40 -5 7.6 +0.1
PEY Invesco High Yield Equity Dividend Achievers ETF 22.8 52 -17 7.8 +0.3
IWD iShares Russell 1000 Value ETF 22.7 19 16 5.9 -1.6
FVL First Trust Value Line 100 ETF 22.6 70 -35 0.0 -7.6
VLUE iShares MSCI USA Value Factor ETF 22.5 15 20 9.3 +1.8
JHMF John Hancock Multifactor Financials ETF 22.5 40 -5 6.5 -1.0
VLU SPDR S&P 1500 Value Tilt ETF 22.4 12 23 5.9 -1.6
SDY SPDR S&P Dividend ETF 22.2 35 0 6.2 -1.3
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 22.2 17 18 6.1 -1.5
CLRG IQ Chaikin U.S. Large Cap ETF 21.8 25 10 4.8 -2.8
FDVV Fidelity Core Dividend ETF 21.7 29 6 6.1 -1.5
FVD First Trust Value Line Dividend Index Fund 21.6 70 -35 5.8 -1.8
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 21.2 75 -40 6.0 -1.6
VALQ American Century STOXX U.S. Quality Value ETF 21.1 29 6 7.7 +0.2
NOBL ProShares S&P 500 Dividend Aristocrats ETF 21.0 35 0 5.7 -1.9
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 21.0 75 -40 5.2 -2.4
ROUS Hartford Multifactor US Equity ETF 20.9 19 16 6.1 -1.4
EPS WisdomTree U.S. Earnings 500 Fund 20.8 8 27 6.1 -1.4
SYLD Cambria Shareholder Yield ETF 20.7 59 -24 6.7 -0.8
IEFN iShares Evolved U.S. Financials ETF 20.4 18 17 7.6 +0.0
QUS SPDR MSCI USA StrategicFactors ETF 20.2 15 20 5.4 -2.1
HDV iShares Core High Dividend ETF 19.9 8 27 6.4 -1.2
DURA VanEck Vectors Morningstar Durable Dividend ETF 19.9 29 6 8.2 +0.6
FXO First Trust Financials AlphaDEX Fund 19.7 63 -28 8.9 +1.3
RNLC Large Cap US Equity Select ETF 19.7 60 -25 5.3 -2.3
REVS Columbia Research Enhanced Value ETF 19.7 19 16 7.0 -0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 19.6 15 20 0.0 -7.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 19.3 35 0 5.2 -2.4
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 19.3 35 0 5.2 -2.4
JMIN JPMorgan U.S. Minimum Volatility ETF 19.3 12 23 5.5 -2.1
FLQL Franklin LibertyQ U.S. Equity ETF 19.1 15 20 6.0 -1.5
ESG FlexShares STOXX US ESG Impact Index Fund 18.9 32 3 4.7 -2.9
SPXT ProShares S&P 500 Ex-Technology ETF 18.8 27 8 5.0 -2.5
EQRR ProShares Equities for Rising Rates ETF 18.5 35 0 5.6 -2.0
RSP Invesco S&P 500 Equal Weight ETF 18.5 20 15 5.4 -2.2
IUS Invesco Strategic US ETF 18.3 19 16 5.2 -2.3

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 VictoryShares 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 14.6 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 CATEGORY
AVERAGE		 1.50
 
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.