Victory CEMP US 500 Enhanced Volatility Wtd
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
17.5x P/Sales
ratio
1.8x
P/BV
ratio
3.0x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Victory CEMP US 500 Enhanced Volatility Wtd Index ETF tracks an index of the largest US stocks by market cap, screened for positive earnings and weighted by volatility. The fund can move to 75% cash maximum in market downturns.

FUND BASICS
Category US Equities
Fund Sponsor Victory Capital Management
Website www.compassempfunds.com
Inception date Jul 02, 2014
Assets (mns) $730
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 498
Wgt avg mkt cap (mns) $50,450
Large cap (>$10bn) 74.7%
Mid cap ($2-10bn) 25.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CITRIX SYSTEMS INC 0.3 %
NEXTERA ENERGY GROUP 0.3 %
REPUBLIC SERVICES INC 0.3 %
EVERSOURCE ENERGY 0.3 %
SEMPRA ENERGY 0.3 %
DUKE ENERGY CORP 0.3 %
WESTERN UNION CO 0.3 %
DTE ENERGY COMPANY 0.3 %
ALLIANT ENERGY CORP 0.3 %
AMERICAN ELECTRIC POWER 0.3 %
Total 3.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
IRELAND 1.7 %
SWITZERLAND 0.7 %
BERMUDA 0.5 %
BRITAIN 0.2 %
CHINA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.7% 6.2% 8.5% -- 9.0%

Market Correlations
versus... Beta R-squared
S&P500 0.92 88%
MSCI EAFE 0.77 51%
MSCI Emg. Mkts. 0.49 35%

Technical Indicators
Recent close $51.05
30d moving avg. $50.02
Annualized volatility 11.9%
Short interest (ETF) 0.2%
Relative strength (RSI) 80

Liquidity measures
Avg. volume (thou.) 65
Turnover 0.5%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $117,390

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Victory CEMP US 500 Enhanced Volatility Wtd ETF based on the alternatives' overlap in portfolio holdings with CFO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CFO Expense: 35 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CFO
Ticker Fund
Name
Overlap1
vs CFO
(%)
Expense
ratio
(bp)
Savings
vs CFO
(bp)
ALTAR
Score™
(%)
ALTAR
vs CFO
(%)
CFA Compass EMP US 500 Volatility Weighted 99.1 35 0 6.1 0.0
RSP Invesco S&P 500 Equal Weight 67.0 20 15 6.8 +0.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 65.8 9 26 6.4 +0.3
EUSA iShares MSCI USA Equal Weight 63.2 15 20 6.5 +0.4
SIZE iShares MSCI USA Size Factor 63.1 15 20 6.3 +0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight 60.6 29 6 6.7 +0.6
TPLC Timothy Plan US Large Cap Core 58.5 52 -17 5.6 -0.5
DEUS Xtrackers Russell 1000 Comprehensive Factor 57.6 17 18 6.3 +0.3
JHML John Hancock Multifactor Large Cap 56.7 34 1 6.0 -0.1
ONEO SPDR Russell 1000 Momentum Focus 56.2 20 15 6.4 +0.4
SCIU Global X Scientific Beta US 51.7 19 16 5.7 -0.4
JHMM John Hancock Multifactor Mid Cap 51.5 44 -9 5.9 -0.2
RNLC Large Cap US Equity Select 51.3 60 -25 6.4 +0.3
JPUS JPMorgan Diversified Return U.S. Equity 51.1 19 16 6.3 +0.2
FEX First Trust Large Cap Core Alphadex 50.9 61 -26 6.4 +0.3
EQAL Invesco Russel 1000 Equal Weight 50.5 20 15 6.0 -0.1
USLB Invesco Russell 1000 Low Beta Equal Weight 48.8 35 0 5.8 -0.3
IWR iShares Russell Midcap 48.4 19 16 5.9 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 48.1 9 26 6.4 +0.3
AVUS Avantis U.S. Equity 46.7 15 20 6.1 -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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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 Enhanced Volatility Wtd
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 17.2 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.55
 
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.