VictoryShares Developed Enhanced Volatility Weighted Index ETF
ALTAR
Score™
6.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
21.0x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Compass EMP Developed 500 Enhanced Volatility Weighted Index ETF is an exchange traded fund incorporated in the USA. The Fund seeks to provide investment results that match the performance of the CEMP International 500 Long/Cash Volatility Weighted Index before fees and expenses.

FUND BASICS
Category International Equities
Fund Sponsor Compass Efficient Model Portfo
Website www.compassempfunds.com
Inception date Sep 30, 2014
Assets (mns) $46
Currency USD
Expense ratio 45 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 499
Wgt avg mkt cap (mns) $33,344
Large cap (>$10bn) 83.8%
Mid cap ($2-10bn) 15.7%
Small cap (<$2bn) 0.0%
Developed mkts 95.6%
Emerging mkts 4.4%

TOP TEN HOLDINGS
NATIONAL BANK OF CANADA 0.4 %
GIVAUDAN-REG 0.4 %
ROYAL BANK OF CANADA 0.4 %
FORTIS INC 0.4 %
HYDRO ONE LTD. 0.4 %
METRO INC -A 0.4 %
EMS-CHEMIE HOLDING AG-REG 0.3 %
BANK OF NOVA SCOTIA 0.3 %
KONE OYJ-B 0.3 %
SOFTBANK CORP. 0.3 %
Total 3.6 %

TOP COUNTRY EXPOSURE
JAPAN 20.7 %
CANADA 11.1 %
BRITAIN 9.4 %
FRANCE 8.7 %
SWITZERLAND 7.8 %
GERMANY 6.1 %
AUSTRALIA 5.7 %
SWEDEN 4.4 %
SOUTH KOREA 3.7 %
NETHERLANDS 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.1% -4.0% -0.8% -- -1.6%

Market Correlations
versus... Beta R-squared
S&P500 0.66 69%
MSCI EAFE 0.81 89%
MSCI Emg. Mkts. 0.58 71%

Technical Indicators
Recent close $28.60
30d moving avg. $28.32
Annualized volatility 13.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.3%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $21,466

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: CIZ Expense: 45 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CIZ
Ticker Fund
Name
Overlap1
vs CIZ
(%)
Expense
ratio
(bp)
Savings
vs CIZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs CIZ
(%)
CIL VictoryShares International Volatility Weighted Index ETF 99.0 45 0 6.6 +0.0
TPIF Timothy Plan International ETF 70.9 62 -17 6.1 -0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 51.2 25 20 6.6 +0.0
BKIE BNY Mellon International Equity ETF 50.8 4 41 7.3 +0.7
HFXI IQ 50 Percent Hedged FTSE International ETF 50.5 20 25 7.3 +0.7
SCHF Schwab International Equity ETF 49.6 6 39 7.2 +0.7
EFA iShares MSCI EAFE ETF 48.3 32 13 6.9 +0.4
SPDW SPDR Portfolio Developed World ex-US ETF 48.2 4 41 7.0 +0.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 47.9 20 25 6.9 +0.4
JHMD John Hancock Multifactor Developed International ETF 47.9 39 6 7.2 +0.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 47.8 35 10 6.7 +0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 47.7 20 25 6.8 +0.3
QEFA SPDR MSCI EAFE Quality Mix ETF 47.6 30 15 6.7 +0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 46.9 7 38 7.4 +0.8
IDEV iShares Core MSCI International Developed Markets ETF 46.8 5 40 7.1 +0.5
GSID Goldman Sachs MarketBeta International Equity ETF 46.6 20 25 7.1 +0.6
ISZE iShares Edge MSCI Intl Size Factor ETF 46.4 30 15 7.1 +0.5
VEA Vanguard FTSE Developed Markets ETF 45.8 5 40 7.3 +0.7
PDEV Principal International Multi-Factor Core Index ETF 45.1 25 20 7.7 +1.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 44.6 45 0 8.7 +2.1
FNDF Schwab Fundamental International Large Co. Index ETF 43.9 25 20 8.6 +2.1
IEFA iShares Core MSCI EAFE ETF 43.9 7 38 7.1 +0.6
CWI SPDR MSCI ACWI ex-US ETF 42.7 30 15 7.1 +0.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 42.3 24 21 7.0 +0.4
ACWX iShares MSCI ACWI ex U.S. ETF 41.9 32 13 7.2 +0.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 41.6 29 16 7.4 +0.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 41.5 40 5 7.0 +0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 41.3 39 6 6.4 -0.1
IQSI IQ Candriam ESG International Equity ETF 41.1 15 30 7.2 +0.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 40.8 35 10 6.8 +0.3
DWM WisdomTree International Equity Fund 40.7 48 -3 8.2 +1.6
VEU Vanguard FTSE All-World ex-US Index Fund 40.0 8 37 7.5 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 39.8 35 10 8.5 +1.9
RNDM Developed International Equity Select ETF 39.0 65 -20 6.2 -0.4
IQIN IQ 500 International ETF 37.9 25 20 8.5 +1.9
IXUS ishares Core MSCI Total International Stock ETF 37.9 9 36 7.3 +0.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 37.8 25 20 6.3 -0.3
VSGX Vanguard ESG International Stock ETF 37.8 17 28 7.0 +0.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 37.0 30 15 0.0 -6.5
ISDX Invesco Strategic Developed ex-US ETF 36.8 23 22 7.2 +0.6
RBIN Nationwide Risk-Based International Equity ETF 36.6 42 3 6.0 -0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 36.6 45 0 6.5 -0.1
FLEE Franklin FTSE Europe ETF 36.5 9 36 6.8 +0.3
VXUS Vanguard Total International Stock Index Fund 36.4 8 37 7.4 +0.9
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 36.3 14 31 6.8 +0.3
BBEU JPMorgan BetaBuilders Europe ETF 36.3 9 36 7.2 +0.6
FLEH Franklin FTSE Europe Hedged ETF 36.2 9 36 7.0 +0.4
SCID Global X Scientific Beta Europe ETF 36.1 39 6 6.3 -0.3
IEV iShares Europe ETF 35.4 59 -14 6.7 +0.1
EFG iShares MSCI EAFE Growth ETF 35.4 40 5 4.4 -2.1
AVDE Avantis International Equity ETF 35.2 23 22 7.5 +0.9
VGK Vanguard FTSE Europe ETF 35.0 8 37 7.2 +0.7
IEUR iShares Core MSCI Europe ETF 35.0 9 36 7.1 +0.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 34.9 39 6 8.1 +1.6
FEU SPDR Portfolio Europe ETF 34.6 9 36 7.1 +0.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 34.3 16 29 6.8 +0.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 34.2 45 0 7.0 +0.4
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 34.0 30 15 0.0 -6.5
DOL WisdomTree International LargeCap Dividend Fund 33.8 48 -3 8.6 +2.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 33.8 29 16 7.6 +1.1
JPIN JPMorgan Diversified Return International Equity ETF 33.8 37 8 7.7 +1.2
EFV iShares MSCI EAFE Value ETF 33.4 39 6 9.5 +2.9
IQLT iShares Edge MSCI Intl Quality Factor ETF 33.1 30 15 5.9 -0.7
QINT American Century Quality Diversified International ETF 31.4 39 6 6.0 -0.5
EFAV iShares Edge MSCI Min Vol EAFE ETF 30.9 20 25 5.4 -1.1
IDY Pacific Global International Equity Income ETF 30.5 39 6 7.9 +1.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 30.3 30 15 4.3 -2.2
VYMI Vanguard International High Dividend Yield ETF 29.0 27 18 10.1 +3.6
VPL Vanguard FTSE Pacific ETF 28.7 8 37 7.4 +0.9
IPAC iShares Core MSCI Pacific ETF 27.5 9 36 7.1 +0.6
FDEV Fidelity Targeted International Factor ETF 26.9 39 6 6.3 -0.2
IDLV Invesco S&P International Developed Low Volatility ETF 26.0 25 20 6.6 +0.0
UIVM VictoryShares USAA MSCI International Value Momentum ETF 25.6 35 10 8.5 +2.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 25.4 32 13 5.9 -0.6
IGRO iShares International Dividend Growth ETF 24.8 22 23 7.9 +1.4
IDHQ Invesco S&P International Developed Quality ETF 24.5 29 16 4.9 -1.6
QWLD SPDR MSCI World StrategicFactors ETF 24.3 30 15 6.3 -0.3
IDMO Invesco S&P International Developed Momentum ETF 24.2 26 19 4.5 -2.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 24.1 42 3 5.9 -0.6
DIM WisdomTree International MidCap Dividend Fund 24.0 58 -13 7.4 +0.9
URTH iShares MSCI World ETF 23.6 24 21 6.0 -0.6
VGFO Virtus WMC Global Factor Opportunities ETF 23.5 49 -4 7.9 +1.4
EZU iShares MSCI Eurozone ETF 23.1 49 -4 6.4 -0.1
DWMF WisdomTree International Multifactor Fund 23.1 38 7 6.2 -0.4
EURZ Xtrackers Eurozone Equity ETF 23.0 9 36 6.9 +0.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 22.7 45 0 6.5 -0.0
DTH WisdomTree DEFA Equity Income Fund 21.6 58 -13 9.7 +3.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 21.6 20 25 6.4 -0.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 21.5 20 25 6.3 -0.2
ACWI iShares MSCI ACWI ETF 21.1 32 13 6.1 -0.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 20.4 9 36 6.2 -0.4
IVLU iShares Edge MSCI Intl Value Factor ETF 20.3 30 15 11.3 +4.8
FDT First Trust Developed Markets ex-US Alphadex Fund 20.2 80 -35 7.2 +0.7
EWJ iShares MSCI Japan ETF 20.2 49 -4 6.9 +0.4
DBJP Xtrackers MSCI Japan Hedged Equity ETF 20.1 45 0 7.0 +0.5
VIGI Vanguard International Dividend Appreciation ETF 20.1 20 25 5.5 -1.1
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 20.0 30 15 0.0 -6.5
FLJP Franklin FTSE Japan ETF 20.0 9 36 7.4 +0.8
FLJH Franklin FTSE Japan Hedged ETF 20.0 9 36 7.4 +0.9

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.3 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.59
 
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.