VictoryShares International Volatility Weighted Index ETF
ALTAR
Score™
7.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.2x P/Sales
ratio
1.3x
P/BV
ratio
1.4x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VictoryShares International Volatility Wtd ETF tracks an index of developed-market equities outside the US. The index screens for 4 quarters of positive earnings and weights its securities inversely by volatility.

FUND BASICS
Category International Equities
Fund Sponsor Victory Capital Management
Website www.compassempfunds.com
Inception date Aug 20, 2015
Assets (mns) $88
Currency USD
Expense ratio 45 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 499
Wgt avg mkt cap (mns) $33,879
Large cap (>$10bn) 85.7%
Mid cap ($2-10bn) 13.5%
Small cap (<$2bn) 0.3%
Developed mkts 94.6%
Emerging mkts 5.4%

TOP TEN HOLDINGS
NTT DOCOMO, INC. 0.4 %
BARRY CALLEBAUT AG-REG 0.4 %
CLP HOLDINGS LTD 0.3 %
SOFTBANK CORP. 0.3 %
NESTLE SA-REG 0.3 %
SCHINDLER HOLDING AG PREF 0.3 %
JAPAN TOBACCO INC 0.3 %
NOVO NORDISK A/S-B 0.3 %
KEYENCE CORP 0.3 %
MITSUI SUMITOMO INSURANCE GR 0.3 %
Total 3.3 %

TOP COUNTRY EXPOSURE
JAPAN 20.0 %
BRITAIN 8.5 %
CANADA 8.0 %
FRANCE 7.9 %
SWITZERLAND 7.5 %
GERMANY 7.4 %
SWEDEN 5.5 %
SOUTH KOREA 4.8 %
HONG KONG 4.4 %
AUSTRALIA 4.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.1% 0.8% 5.1% -- 4.2%

Market Correlations
versus... Beta R-squared
S&P500 0.83 85%
MSCI EAFE 0.98 98%
MSCI Emg. Mkts. 0.70 79%

Technical Indicators
Recent close $36.69
30d moving avg. $37.14
Annualized volatility 15.9%
Short interest (ETF) 0.2%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.0%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $39,040

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the VictoryShares International Volatility Weighted Index ETF ETF based on the alternatives' overlap in portfolio holdings with CIL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CIL Expense: 45 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CIL
Ticker Fund
Name
Overlap1
vs CIL
(%)
Expense
ratio
(bp)
Savings
vs CIL
(bp)
ALTAR
Score™
(%)
ALTAR
vs CIL
(%)
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 98.2 45 0 7.0 +0.0
TPIF Timothy Plan International ETF 75.3 62 -17 6.4 -0.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 52.1 25 20 6.7 -0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 51.8 20 25 7.5 +0.5
BKIE BNY Mellon International Equity ETF 50.9 4 41 7.5 +0.5
SCHF Schwab International Equity ETF 50.6 6 39 7.3 +0.3
EFA iShares MSCI EAFE ETF 49.4 32 13 7.1 +0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 49.4 20 25 7.2 +0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 48.7 35 10 7.0 -0.0
SPDW SPDR Portfolio Developed World ex-US ETF 48.6 4 41 7.2 +0.1
QEFA SPDR MSCI EAFE Quality Mix ETF 48.5 30 15 6.9 -0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 48.3 7 38 7.6 +0.6
ESGD iShares MSCI EAFE ESG Optimized ETF 48.2 20 25 7.0 -0.0
PQIN PGIM QMA Strategic Alpha International Equity ETF 47.7 29 16 7.9 +0.9
GSID Goldman Sachs MarketBeta International Equity ETF 47.5 20 25 7.4 +0.4
JHMD John Hancock Multifactor Developed International ETF 47.5 39 6 7.4 +0.4
IDEV iShares Core MSCI International Developed Markets ETF 47.2 5 40 7.3 +0.3
VEA Vanguard FTSE Developed Markets ETF 46.9 5 40 7.5 +0.4
ISZE iShares Edge MSCI Intl Size Factor ETF 45.9 30 15 7.3 +0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 45.1 45 0 9.0 +2.0
IEFA iShares Core MSCI EAFE ETF 45.1 7 38 7.4 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.0 39 6 6.6 -0.4
FNDF Schwab Fundamental International Large Co. Index ETF 43.7 25 20 8.8 +1.8
PDEV Principal International Multi-Factor Core Index ETF 43.1 25 20 8.0 +1.0
ACWX iShares MSCI ACWI ex U.S. ETF 42.5 32 13 7.3 +0.3
DWM WisdomTree International Equity Fund 42.1 48 -3 8.5 +1.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 42.0 45 0 6.6 -0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 42.0 40 5 7.1 +0.1
CWI SPDR MSCI ACWI ex-US ETF 41.7 30 15 7.2 +0.2
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 41.4 35 10 6.9 -0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 41.4 35 10 8.8 +1.8
DMXF iShares ESG Advanced MSCI EAFE ETF 41.3 12 33 7.0 -0.0
IQSI IQ Candriam ESG International Equity ETF 41.0 15 30 7.5 +0.5
VEU Vanguard FTSE All-World ex-US Index Fund 40.6 8 37 7.6 +0.5
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 40.6 25 20 6.6 -0.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 40.4 24 21 7.0 -0.0
RBIN Nationwide Risk-Based International Equity ETF 40.3 42 3 6.1 -0.9
VSGX Vanguard ESG International Stock ETF 39.7 17 28 7.1 +0.1
RNDM Developed International Equity Select ETF 39.5 65 -20 6.3 -0.7
SCID Global X Scientific Beta Europe ETF 39.1 39 6 0.0 -7.0
IXUS ishares Core MSCI Total International Stock ETF 38.6 9 36 7.4 +0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 38.3 45 0 6.9 -0.2
IQIN IQ 500 International ETF 38.2 25 20 8.8 +1.7
FLEH Franklin FTSE Europe Hedged ETF 38.0 9 36 7.3 +0.3
FLEE Franklin FTSE Europe ETF 38.0 9 36 7.2 +0.2
BBEU JPMorgan BetaBuilders Europe ETF 37.7 9 36 7.5 +0.5
EFG iShares MSCI EAFE Growth ETF 37.2 40 5 4.6 -2.5
VGK Vanguard FTSE Europe ETF 36.7 8 37 7.6 +0.6
IEV iShares Europe ETF 36.7 59 -14 7.0 +0.0
IEUR iShares Core MSCI Europe ETF 36.6 9 36 7.4 +0.4
FEU SPDR Portfolio Europe ETF 36.3 9 36 7.5 +0.5
ISDX Invesco Strategic Developed ex-US ETF 36.3 23 22 7.5 +0.5
DOL WisdomTree International LargeCap Dividend Fund 36.3 48 -3 9.0 +1.9
AVDE Avantis International Equity ETF 36.1 23 22 7.7 +0.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 36.0 14 31 7.1 +0.0
RESD WisdomTree International ESG Fund 36.0 30 15 6.9 -0.1
VXUS Vanguard Total International Stock Index Fund 35.8 8 37 7.6 +0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 34.8 39 6 8.4 +1.4
JPIN JPMorgan Diversified Return International Equity ETF 34.7 37 8 7.9 +0.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 34.4 29 16 7.8 +0.8
IQLT iShares Edge MSCI Intl Quality Factor ETF 33.7 30 15 6.1 -0.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 33.4 16 29 7.0 -0.1
EFV iShares MSCI EAFE Value ETF 32.9 39 6 9.8 +2.8
IMTM iShares Edge MSCI Intl Momentum Factor ETF 32.9 30 15 4.5 -2.6
EFAV iShares Edge MSCI Min Vol EAFE ETF 31.9 20 25 5.4 -1.6
QINT American Century Quality Diversified International ETF 31.7 39 6 6.2 -0.8
IDY Pacific Global International Equity Income ETF 31.4 39 6 8.2 +1.2
IDLV Invesco S&P International Developed Low Volatility ETF 28.8 25 20 6.6 -0.5
VPL Vanguard FTSE Pacific ETF 28.7 8 37 7.4 +0.4
VYMI Vanguard International High Dividend Yield ETF 28.0 27 18 10.2 +3.1
VGFO Virtus WMC Global Factor Opportunities ETF 27.5 49 -4 8.2 +1.2
UIVM VictoryShares USAA MSCI International Value Momentum ETF 27.2 35 10 8.7 +1.7
FDEV Fidelity Targeted International Factor ETF 26.8 39 6 6.6 -0.4
IPAC iShares Core MSCI Pacific ETF 26.7 9 36 7.2 +0.2
DWMF WisdomTree International Multifactor Fund 25.9 38 7 6.3 -0.7
EURZ Xtrackers Eurozone Equity ETF 25.3 9 36 7.2 +0.2
EZU iShares MSCI Eurozone ETF 24.8 49 -4 6.8 -0.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 24.7 45 0 6.9 -0.1
QWLD SPDR MSCI World StrategicFactors ETF 24.6 30 15 6.1 -1.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 24.5 32 13 6.1 -0.9
IDHQ Invesco S&P International Developed Quality ETF 24.2 29 16 5.1 -1.9
URTH iShares MSCI World ETF 23.5 24 21 5.5 -1.5
ESGG FlexShares STOXX Global ESG Impact Index Fund 23.3 42 3 5.2 -1.8
IGRO iShares International Dividend Growth ETF 23.1 22 23 8.5 +1.5
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 22.2 80 -35 6.7 -0.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 21.8 20 25 6.0 -1.1
DTH WisdomTree DEFA Equity Income Fund 21.7 58 -13 10.1 +3.1
DIM WisdomTree International MidCap Dividend Fund 21.7 58 -13 7.6 +0.6
LOWC SPDR MSCI ACWI Low Carbon Target ETF 21.5 20 25 6.0 -1.1
ACWI iShares MSCI ACWI ETF 21.4 32 13 5.7 -1.3
IDMO Invesco S&P International Developed Momentum ETF 21.0 26 19 4.1 -2.9
NUDM Nuveen ESG International Developed Markets Equity ETF 20.9 40 5 6.9 -0.1
IVLU iShares Edge MSCI Intl Value Factor ETF 20.6 30 15 11.7 +4.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 20.5 29 16 11.6 +4.6
OEUR O'shares FTSE Europe Quality Dividend ETF 20.2 48 -3 7.0 -0.0
EWJ iShares MSCI Japan ETF 19.7 49 -4 7.0 -0.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 19.6 25 20 7.2 +0.2
FLJP Franklin FTSE Japan ETF 19.6 9 36 7.4 +0.4
FLJH Franklin FTSE Japan Hedged ETF 19.6 9 36 7.3 +0.3

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

  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:
VictoryShares International 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 10.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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