Victory CEMP US 500 Volatility Weighted Index ETF
ALTAR
Score™		 8.2% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 14.1x P/Sales
ratio		 1.3x
P/BV
ratio		 2.0x Div.
yield		 2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Compass EMP US 500 Volatility Weighted Index ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the returns of the CEMP US Large Cap 500 Volatility Weighted Index before fees and expenses.

FUND BASICS
Category US Equities
Fund Sponsor Compass Efficient Model Portfo
Website www.compassempfunds.com
Inception date Jul 01, 2014
Assets (mns) $612
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian US Bank NA
Weighting Volatility
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 498
Wgt avg mkt cap (mns) $47,951
Large cap (>$10bn) 68.3%
Mid cap ($2-10bn) 31.6%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CITRIX SYSTEMS INC 0.6 %
NEXTERA ENERGY GROUP 0.4 %
EVERSOURCE ENERGY 0.4 %
CABLE ONE INC 0.4 %
DUKE ENERGY CORP 0.4 %
XCEL ENERGY INC 0.4 %
REPUBLIC SERVICES INC 0.4 %
WEC ENERGY GROUP INC 0.4 %
CMS ENERGY CORP 0.4 %
ALLIANT ENERGY CORP 0.4 %
Total 4.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
IRELAND 1.8 %
SWITZERLAND 0.6 %
BERMUDA 0.5 %
CHINA 0.2 %
BRITAIN 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.6% -14.2% -- -- 4.0%

Market Correlations
versus... Beta R-squared
S&P500 1.10 96%
MSCI EAFE 1.03 82%
MSCI Emg. Mkts. 0.76 66%

Technical Indicators
Recent close $40.37
30d moving avg. $46.55
Annualized volatility 17.0%
Short interest (ETF) 0.3%
Short interest (Underlying) 3.9%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 190
Turnover 1.3%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $275,880

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Victory CEMP US 500 Volatility Weighted Index ETF ETF based on the alternatives' overlap in portfolio holdings with CFA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CFA Expense: 35 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CFA
Ticker Fund
Name		 Overlap1
vs CFA
(%)		 Expense
ratio
(bp)		 Savings
vs CFA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs CFA
(%)
RSP Invesco S&P 500 Equal Weight ETF 68.6 20 15 8.9 +0.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 65.4 9 26 8.2 +0.0
EUSA iShares MSCI USA Equal Weighted ETF 65.3 15 20 8.6 +0.3
SIZE iShares Edge MSCI USA Size Factor ETF 64.4 15 20 8.4 +0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 62.7 29 6 9.3 +1.1
TPLC Timothy Plan US Large Cap Core ETF 59.0 52 -17 7.4 -0.8
JHML John Hancock Multifactor Large Cap ETF 56.7 34 1 7.6 -0.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 56.7 17 18 9.0 +0.8
ONEO SPDR Russell 1000 Momentum Focus ETF 53.9 20 15 9.5 +1.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 52.4 19 16 8.5 +0.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 52.4 35 0 7.7 -0.5
FEX First Trust Large Cap Core AlphaDEX Fund 52.1 60 -25 8.2 -0.0
SCIU Global X Scientific Beta US ETF 51.8 19 16 7.7 -0.5
JHMM John Hancock Multifactor Mid Cap ETF 51.2 44 -9 8.4 +0.1
RNLC Large Cap US Equity Select ETF 51.0 60 -25 8.2 +0.0
EQAL Invesco Russell 1000 Equal Weight ETF 48.8 20 15 7.8 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 48.6 9 26 7.4 -0.8
IWR iShares Russell Midcap ETF 48.4 19 16 8.1 -0.1
AVUS Avantis U.S. Equity ETF 47.3 15 20 8.1 -0.1
RVRS Reverse Cap Weighted U.S. Large Cap ETF 47.0 29 6 10.6 +2.4
ONEV SPDR Russell 1000 Low Volatility Focus ETF 46.4 20 15 9.6 +1.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 46.4 17 18 9.1 +0.9
RBUS Nationwide Risk-Based U.S. Equity ETF 46.3 30 5 7.3 -0.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 43.9 30 5 8.2 -0.0
HSPX Global X S&P 500 Covered Call ETF 43.6 65 -30 6.4 -1.8
PBP Invesco S&P 500 BuyWrite ETF 43.6 49 -14 6.7 -1.6
QUS SPDR MSCI USA StrategicFactors ETF 43.1 15 20 7.4 -0.8
VONE Vanguard Russell 1000 ETF 43.1 8 27 7.2 -1.0
SCHX Schwab U.S. Large-Cap ETF 43.1 3 32 7.2 -1.0
IWB iShares Russell 1000 ETF 42.9 15 20 7.1 -1.1
SCHK Schwab 1000 Index ETF 42.8 5 30 7.2 -1.0
IYY iShares Dow Jones U.S. ETF 42.6 20 15 7.1 -1.1
PBUS Invesco PureBeta MSCI USA ETF 42.3 4 31 7.4 -0.9
VV Vanguard Large-Cap Index Fund 42.1 4 31 7.1 -1.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 42.0 2 33 7.2 -1.0
SPTM SPDR Portfolio Total Stock Market ETF 42.0 3 32 7.4 -0.8
SPY SPDR S&P 500 ETF Trust 42.0 9 26 7.2 -1.0
SPLG SPDR Portfolio Large Cap ETF 42.0 3 32 7.3 -0.9
IVV iShares Core S&P 500 ETF 41.9 4 31 7.3 -0.9
VOO VANGUARD S&P 500 ETF 41.9 3 32 7.3 -0.9
EPS WisdomTree U.S. Earnings 500 Fund 41.7 8 27 8.6 +0.4
VTHR Vanguard Russell 3000 Index Fund 41.6 10 25 7.1 -1.1
TUSA First Trust Total US Market AlphaDEX ETF 41.6 70 -35 9.5 +1.3
SCHB Schwab U.S. Broad Market ETF 41.6 3 32 7.2 -1.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 41.5 3 32 7.1 -1.1
IWV iShares Russell 3000 ETF 41.5 20 15 7.0 -1.2
VTI Vanguard Total Stock Market Index Fund 41.5 3 32 7.1 -1.1
SPXE ProShares S&P 500 Ex-Energy ETF 41.4 27 8 7.1 -1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 41.4 20 15 7.2 -1.0
BFOR Barron's 400 ETF 40.8 66 -31 9.3 +1.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 40.7 25 10 8.5 +0.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 40.7 24 11 8.5 +0.2
PRF Invesco FTSE RAFI US 1000 ETF 40.6 39 -4 9.4 +1.2
VLU SPDR S&P 1500 Value Tilt ETF 40.5 12 23 9.8 +1.6
CATH Global X S&P 500 Catholic Values Custom ETF 40.3 29 6 7.1 -1.1
SPXT ProShares S&P 500 Ex-Technology ETF 40.2 27 8 7.5 -0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 40.1 25 10 8.6 +0.4
ROUS Hartford Multifactor US Equity ETF 40.1 19 16 9.4 +1.2
SFY SoFi Select 500 ETF 39.9 0 35 6.8 -1.4
EXT WisdomTree U.S. Total Earnings Fund 38.8 28 7 7.8 -0.4
SPXN ProShares S&P 500 Ex-Financials ETF 38.5 27 8 6.8 -1.4
RWL Invesco S&P 500 Revenue ETF 38.4 39 -4 9.3 +1.1
SPXV ProShares S&P 500 Ex-Health Care ETF 38.1 27 8 6.9 -1.3
SPYV SPDR Portfolio S&P 500 Value ETF 37.9 4 31 9.4 +1.2
IUSV iShares Core S&P U.S. Value ETF 37.9 4 31 9.6 +1.4
VOOV Vanguard S&P 500 Value ETF 37.9 15 20 9.4 +1.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 37.9 12 23 6.9 -1.4
IVE iShares S&P 500 Value ETF 37.8 18 17 9.3 +1.1
AFLG First Trust Active Factor Large Cap ETF 37.8 55 -20 7.8 -0.4
ESGV Vanguard ESG U.S. Stock ETF 37.7 12 23 7.1 -1.1
ESGU iShares MSCI USA ESG Optimized ETF 37.6 15 20 6.8 -1.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 37.6 25 10 8.8 +0.5
VONV Vanguard Russell 1000 Value Index Fund 37.2 8 27 9.5 +1.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 37.1 29 6 8.4 +0.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 37.1 75 -40 5.1 -3.1
IUS Invesco Strategic US ETF 37.1 19 16 8.1 -0.1
IWD iShares Russell 1000 Value ETF 36.7 19 16 9.4 +1.2
VO Vanguard Mid-Cap Index Fund 36.7 4 31 7.7 -0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 36.5 20 15 6.8 -1.4
IWS iShares Russell Mid-Cap Value ETF 35.3 24 11 10.1 +1.9
JMOM JPMorgan U.S. Momentum Factor ETF 35.2 12 23 5.3 -3.0
JQUA JPMorgan U.S. Quality Factor ETF 35.0 12 23 6.8 -1.4
DIVB iShares U.S. Dividend & Buyback ETF 35.0 25 10 8.9 +0.7
DTD WisdomTree U.S.Total Dividend Fund 35.0 28 7 8.7 +0.5
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 35.0 60 -25 9.2 +1.0
JMIN JPMorgan U.S. Minimum Volatility ETF 34.8 12 23 7.3 -0.9
SCHV Schwab U.S. Large-Cap Value ETF 34.8 4 31 9.2 +1.0
TOK iShares MSCI Kokusai ETF 34.7 25 10 7.5 -0.7
DGRO iShares Core Dividend Growth ETF 34.5 8 27 8.6 +0.4
FLQL Franklin LibertyQ U.S. Equity ETF 34.4 15 20 8.2 0.0
MGC Vanguard Mega Cap Index Fund 34.4 7 28 7.0 -1.2
IWP iShares Russell Mid-Cap Growth ETF 33.8 24 11 6.1 -2.2
FAB First Trust Multi Cap Value AlphaDEX Fund 33.7 71 -36 13.4 +5.2
IQSU IQ Candriam ESG US Equity ETF 33.4 9 26 6.9 -1.4
IUSG iShares Core S&P US Growth ETF 33.2 4 31 5.9 -2.3
FAD First Trust Multi Cap Growth AlphaDEX Fund 33.1 66 -31 4.3 -3.9
URTH iShares MSCI World ETF 32.9 24 11 7.7 -0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 32.7 28 7 8.3 +0.1
SNPE Xtrackers S&P 500 ESG ETF 32.7 11 24 7.0 -1.2
VTV Vanguard Value Index Fund 32.7 4 31 9.4 +1.1

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 500 Volatility Weighted Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.9 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.56 CATEGORY
AVERAGE		 1.51
 
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.