VictoryShares US 500 Enhanced Volatility Weighted Index ETF
ALTAR
Score™		 6.0% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 23.7x P/Sales
ratio		 1.8x
P/BV
ratio		 2.6x Div.
yield		 1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VictoryShares 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 01, 2014
Assets (mns) $611
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) $32,156
Large cap (>$10bn) 76.0%
Mid cap ($2-10bn) 24.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CITRIX SYSTEMS INC 0.2 %
CLOROX COMPANY 0.2 %
WAL-MART STORES INC 0.2 %
AMAZON.COM INC 0.2 %
VERIZON COMMUNICATIONS INC 0.2 %
WEST PHARMACEUTICAL SERVICES 0.2 %
GENERAL MILLS INC 0.2 %
WESTAR ENERGY INC 0.2 %
PEPSICO INC 0.2 %
EVERSOURCE ENERGY 0.2 %
Total 1.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 52.0 %
IRELAND 0.9 %
BERMUDA 0.5 %
SWITZERLAND 0.4 %
CHINA 0.1 %
BRITAIN 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.9% 7.5% 8.6% -- 8.9%

Market Correlations
versus... Beta R-squared
S&P500 0.70 75%
MSCI EAFE 0.65 55%
MSCI Emg. Mkts. 0.42 37%

Technical Indicators
Recent close $51.96
30d moving avg. $51.99
Annualized volatility 13.8%
Short interest (ETF) 0.2%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 38
Turnover 0.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $243,812

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the VictoryShares US 500 Enhanced Volatility Weighted Index ETF 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™: 6.0%


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 VictoryShares US 500 Volatility Weighted Index ETF 53.9 35 0 6.0 -0.0
EUSA iShares MSCI USA Equal Weighted ETF 46.3 15 20 6.3 +0.4
SIZE iShares Edge MSCI USA Size Factor ETF 46.0 15 20 6.4 +0.4
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 45.5 29 6 6.8 +0.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 42.1 17 18 6.4 +0.5
JHML John Hancock Multifactor Large Cap ETF 41.9 29 6 5.6 -0.4
ONEO SPDR Russell 1000 Momentum Focus ETF 41.7 20 15 6.5 +0.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 41.6 9 26 5.9 -0.1
RSP Invesco S&P 500 Equal Weight ETF 41.0 20 15 6.8 +0.8
EQAL Invesco Russell 1000 Equal Weight ETF 39.9 20 15 5.7 -0.2
AVUS Avantis U.S. Equity ETF 35.1 15 20 5.8 -0.2
SCIU Global X Scientific Beta US ETF 34.3 19 16 5.8 -0.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 34.3 30 5 6.6 +0.6
TPLC Timothy Plan US Large Cap Core ETF 34.2 52 -17 5.5 -0.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 33.4 9 26 5.6 -0.4
IWR iShares Russell Midcap ETF 33.3 19 16 5.7 -0.3
SCHK Schwab 1000 Index ETF 31.9 5 30 5.3 -0.6
SCHX Schwab U.S. Large-Cap ETF 31.8 3 32 5.3 -0.6
IWB iShares Russell 1000 ETF 31.8 15 20 5.2 -0.7
IYY iShares Dow Jones U.S. ETF 31.7 20 15 5.2 -0.8
JHMM John Hancock Multifactor Mid Cap ETF 31.7 42 -7 5.8 -0.1
VONE Vanguard Russell 1000 ETF 31.6 8 27 5.3 -0.7
RNLC Large Cap US Equity Select ETF 31.5 60 -25 6.2 +0.3
FEX First Trust Large Cap Core AlphaDEX Fund 31.4 60 -25 6.0 +0.1
PBUS Invesco PureBeta MSCI USA ETF 31.4 4 31 5.3 -0.6
SCHB Schwab U.S. Broad Market ETF 31.0 3 32 5.3 -0.7
IWV iShares Russell 3000 ETF 30.9 20 15 5.1 -0.9
VTI Vanguard Total Stock Market Index Fund 30.9 3 32 5.2 -0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 30.9 3 32 5.2 -0.8
BKMC BNY Mellon US Mid Cap Core Equity ETF 30.9 4 31 5.8 -0.2
SPTM SPDR Portfolio Total Stock Market ETF 30.9 3 32 5.6 -0.4
VTHR Vanguard Russell 3000 Index Fund 30.8 10 25 5.2 -0.8
JPUS JPMorgan Diversified Return U.S. Equity ETF 30.8 18 17 6.3 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 30.7 15 20 5.9 -0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 30.5 2 33 5.4 -0.6
PBP Invesco S&P 500 BuyWrite ETF 30.4 49 -14 5.0 -0.9
VV Vanguard Large-Cap Index Fund 30.4 4 31 5.3 -0.7
HSPX Global X S&P 500 Covered Call ETF 30.2 65 -30 4.9 -1.1
SPY SPDR S&P 500 ETF Trust 30.1 9 26 5.4 -0.6
SPLG SPDR Portfolio Large Cap ETF 30.1 3 32 5.5 -0.5
IVV iShares Core S&P 500 ETF 30.1 4 31 5.5 -0.5
PRF Invesco FTSE RAFI US 1000 ETF 30.1 39 -4 6.9 +0.9
RVRS Reverse Cap Weighted U.S. Large Cap ETF 30.1 29 6 8.3 +2.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 30.0 7 28 5.3 -0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 30.0 20 15 5.4 -0.6
VOO VANGUARD S&P 500 ETF 30.0 3 32 5.5 -0.5
IWD iShares Russell 1000 Value ETF 29.9 19 16 7.2 +1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 29.9 25 10 6.6 +0.6
EPS WisdomTree U.S. Earnings 500 Fund 29.9 8 27 6.5 +0.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 29.8 25 10 6.6 +0.6
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 29.8 35 0 5.4 -0.6
SPXE ProShares S&P 500 Ex-Energy ETF 29.8 27 8 5.4 -0.6
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 29.3 25 10 6.7 +0.7
VLU SPDR S&P 1500 Value Tilt ETF 29.0 12 23 7.5 +1.6
CATH Global X S&P 500 Catholic Values Custom ETF 29.0 29 6 5.3 -0.7
SFY SoFi Select 500 ETF 28.6 0 35 5.3 -0.7
SPXT ProShares S&P 500 Ex-Technology ETF 28.2 27 8 5.7 -0.2
ONEV SPDR Russell 1000 Low Volatility Focus ETF 28.2 20 15 7.1 +1.2
RWL Invesco S&P 500 Revenue ETF 28.0 39 -4 7.3 +1.3
TUSA First Trust Total US Market AlphaDEX ETF 27.7 70 -35 6.0 +0.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 27.7 29 6 6.3 +0.3
ESGV Vanguard ESG U.S. Stock ETF 27.5 12 23 5.2 -0.7
IUS Invesco Strategic US ETF 27.4 19 16 6.7 +0.8
ESGU iShares MSCI USA ESG Optimized ETF 27.3 15 20 5.2 -0.8
SPXV ProShares S&P 500 Ex-Health Care ETF 27.2 27 8 5.1 -0.9
SPXN ProShares S&P 500 Ex-Financials ETF 27.1 27 8 5.0 -1.0
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 26.6 17 18 6.6 +0.6
KOKU Xtrackers MSCI Kokusai Equity ETF 26.5 9 26 5.8 -0.2
TOK iShares MSCI Kokusai ETF 26.3 25 10 5.6 -0.3
IWS iShares Russell Mid-Cap Value ETF 26.2 24 11 7.3 +1.3
IUSV iShares Core S&P U.S. Value ETF 26.2 4 31 7.6 +1.6
VONV Vanguard Russell 1000 Value Index Fund 26.0 8 27 7.4 +1.4
VOOV Vanguard S&P 500 Value ETF 25.5 15 20 7.4 +1.5
SPYV SPDR Portfolio S&P 500 Value ETF 25.5 4 31 7.5 +1.5
URTH iShares MSCI World ETF 25.5 24 11 5.7 -0.3
ROUS Hartford Multifactor US Equity ETF 25.4 19 16 7.3 +1.4
IVE iShares S&P 500 Value ETF 25.4 18 17 7.3 +1.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 25.1 12 23 5.0 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 24.9 25 10 6.7 +0.7
BFOR Barron's 400 ETF 24.8 65 -30 6.4 +0.4
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 24.6 24 11 6.2 +0.3
DTD WisdomTree U.S.Total Dividend Fund 24.5 28 7 6.7 +0.7
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 24.5 20 15 5.0 -1.0
QWLD SPDR MSCI World StrategicFactors ETF 24.3 30 5 6.2 +0.2
RBUS Nationwide Risk-Based U.S. Equity ETF 23.9 30 5 5.1 -0.9
ACWI iShares MSCI ACWI ETF 23.5 32 3 5.9 -0.1
IUSG iShares Core S&P US Growth ETF 23.5 4 31 4.4 -1.6
EXT WisdomTree U.S. Total Earnings Fund 23.1 28 7 5.3 -0.7
SCHV Schwab U.S. Large-Cap Value ETF 22.9 4 31 7.2 +1.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 22.8 20 15 6.2 +0.2
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 22.8 75 -40 3.8 -2.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 22.6 20 15 6.1 +0.2
IQSU IQ Candriam ESG US Equity ETF 22.6 9 26 5.1 -0.8
VT Vanguard Total World Stock Index Fund 22.5 8 27 6.2 +0.3
DGRO iShares Core Dividend Growth ETF 22.3 8 27 6.7 +0.7
AFLG First Trust Active Factor Large Cap ETF 22.3 55 -20 5.6 -0.4
VONG Vanguard Russell 1000 Growth Index Fund 22.0 8 27 4.3 -1.7
MXDU Nationwide Maximum Diversification US Core Equity ETF 21.9 34 1 4.9 -1.1
VTV Vanguard Value Index Fund 21.8 4 31 7.5 +1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 21.6 28 7 6.4 +0.5

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

  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

Content on this tab for subscribers only

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:		 VictoryShares US 500 Enhanced 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 15.4 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 CATEGORY
AVERAGE		 1.52
 
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.