VictoryShares US Small Cap Volatility Weighted Index ETF
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
17.4x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VictoryShares US Small Cap Volatility Wtd Index fund tracks an index composed of 500 of the largest companies domiciled in the US that are no larger than 3 billion in market capitalization. These stocks are then weighted by inverse volatility.

FUND BASICS
Category US Equities
Fund Sponsor Victory Capital Management
Website www.compassempfunds.com
Inception date Jul 07, 2015
Assets (mns) $18
Currency USD
Expense ratio 35 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) $1,457
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 25.4%
Small cap (<$2bn) 73.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HOSTESS BRANDS, INC. CLASS A 0.4 %
TOOTSIE ROLL INDS 0.4 %
COLUMBIA FINANCIAL, INC. 0.4 %
CORCEPT THERAPEUTICS INC 0.4 %
BIOSPECIFICS TECHNOLOGIES 0.4 %
SENSIENT TECHNOLOGIES CORP 0.3 %
CAPITOL FEDERAL FINANCIAL IN 0.3 %
MICROSTRATEGY INC-CL A 0.3 %
TECHTARGET 0.3 %
CSG SYSTEMS INTL INC 0.3 %
Total 3.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.4 %
BERMUDA 0.4 %
PUERTO RICO 0.4 %
LUXEMBOURG 0.2 %
IRELAND 0.1 %






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.
-16.1% -9.6% 6.4% -- 4.7%

Market Correlations
versus... Beta R-squared
S&P500 1.19 87%
MSCI EAFE 1.24 78%
MSCI Emg. Mkts. 0.87 61%

Technical Indicators
Recent close $44.35
30d moving avg. $42.55
Annualized volatility 22.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $6,781

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: CSA Expense: 35 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CSA
Ticker Fund
Name
Overlap1
vs CSA
(%)
Expense
ratio
(bp)
Savings
vs CSA
(bp)
ALTAR
Score™
(%)
ALTAR
vs CSA
(%)
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 79.4 35 0 7.8 +0.1
TPSC Timothy Plan US Small Cap Core ETF 60.7 52 -17 7.8 +0.2
FYX First Trust Small Cap Core AlphaDEX Fund 48.5 63 -28 6.0 -1.6
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 44.1 40 -5 7.1 -0.5
SPSM SPDR Portfolio Small Cap ETF 42.7 5 30 6.9 -0.7
SLY SPDR S&P 600 Small Cap ETF 42.7 15 20 6.8 -0.9
IJR iShares Core S&P Small Cap ETF 42.5 6 29 6.9 -0.7
VIOO Vanguard S&P Small-Cap 600 ETF 42.3 10 25 6.8 -0.8
EES WisdomTree SmallCap Earnings Fund 41.1 38 -3 10.0 +2.3
FYT First Trust Small Cap Value AlphaDEX Fund 37.3 72 -37 9.3 +1.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 36.6 29 6 4.9 -2.7
CSML IQ Chaikin U.S. Small Cap ETF 36.5 35 0 3.8 -3.8
RNSC Small Cap US Equity Select ETF 36.2 60 -25 6.9 -0.7
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 35.6 20 15 4.7 -2.9
SSLY Syntax Stratified SmallCap ETF 35.5 30 5 6.4 -1.3
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 34.9 29 6 0.2 -7.5
DES WisdomTree U.S. SmallCap Dividend Fund 34.8 38 -3 8.3 +0.7
IWN iShares Russell 2000 Value ETF 34.7 24 11 6.7 -1.0
SLYG SPDR S&P 600 Small Cap Growth ETF 33.5 15 20 5.3 -2.4
IJT iShares S&P Small-Cap 600 Growth ETF 33.4 25 10 5.4 -2.3
PSC Principal U.S. Small Cap Index ETF 32.9 38 -3 6.7 -1.0
VIOG Vanguard S&P Small-Cap 600 Growth ETF 32.7 16 19 5.2 -2.4
ROGS Hartford Multifactor Global Small Cap ETF 32.4 34 1 8.0 +0.4
SLYV SPDR S&P 600 Small Cap Value ETF 31.7 15 20 8.6 +1.0
IJS iShares S&P Small-cap 600 Value ETF 31.6 25 10 8.7 +1.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 31.2 15 20 8.7 +1.0
IWM iShares Russell 2000 ETF 30.4 19 16 3.3 -4.4
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 30.4 35 0 5.8 -1.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 30.0 39 -4 4.5 -3.2
VTWO Vanguard Russell 2000 Index Fund 29.9 10 25 3.5 -4.1
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 29.8 29 6 5.7 -2.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 29.7 30 5 7.4 -0.2
FNDA Schwab Fundamental U.S. Small Co. Index ETF 29.3 25 10 7.2 -0.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 29.1 39 -4 6.8 -0.8
STSB iShares Factors US Small Blend Style ETF 28.8 35 0 3.6 -4.1
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 28.5 12 23 7.4 -0.2
ISMD Inspire Small/Mid Cap Impact ETF 27.9 60 -25 4.8 -2.9
AFSM First Trust Active Factor Small Cap ETF 27.4 75 -40 5.4 -2.3
VTWV Vanguard Russell 2000 Value Index Fund 26.6 15 20 6.8 -0.8
AVUV Avantis U.S. Small Cap Value ETF 26.5 25 10 7.8 +0.2
IUSS Invesco Strategic US Small Company ETF 26.0 23 12 5.1 -2.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 25.9 38 -3 8.4 +0.7
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 25.1 24 11 6.4 -1.3
SCHA Schwab U.S. Small-Cap ETF 24.5 4 31 4.7 -3.0
SQLV Legg Mason Small-Cap Quality Value 24.2 62 -27 6.2 -1.4
IWO iShares Russell 2000 Growth ETF 22.8 24 11 -0.1 -7.8
FSMD Fidelity Small-Mid Factor ETF 21.8 29 6 6.1 -1.5
VFMF Vanguard U.S. Multifactor ETF 21.2 19 16 7.2 -0.5
VFQY Vanguard U.S. Quality Factor ETF 20.6 13 22 6.2 -1.4
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 20.5 20 15 4.6 -3.0
VTWG Vanguard Russell 2000 Growth Index Fund 20.2 15 20 0.1 -7.6
XSLV Invesco S&P SmallCap Low Volatility ETF 20.1 25 10 5.5 -2.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 19.7 17 18 4.7 -2.9
PBSM Invesco PureBeta MSCI USA Small Cap ETF 19.4 6 29 5.0 -2.6
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 19.1 35 0 9.9 +2.2
FAB First Trust Multi Cap Value AlphaDEX Fund 18.9 71 -36 9.4 +1.7
FYC First Trust Small Cap Growth AlphaDEX Fund 18.9 70 -35 1.8 -5.8
BFOR Barron's 400 ETF 18.1 65 -30 6.4 -1.3
VFVA Vanguard U.S. Value Factor ETF 18.1 14 21 10.8 +3.1
VBR Vanguard Small Cap Value Index Fund 18.1 7 28 7.9 +0.3
NUSC Nuveen ESG Small-Cap ETF 17.8 40 -5 4.7 -3.0
BKSE BNY Mellon US Small Cap Core Equity ETF 15.8 4 31 5.6 -2.1
RZG Invesco S&P Smallcap 600 Pure Growth ETF 15.4 35 0 5.7 -1.9
JKJ iShares Morningstar Small-Cap ETF 15.4 25 10 6.3 -1.4
XSHQ Invesco S&P SmallCap Quality ETF 14.9 29 6 6.6 -1.1
PXSG Invesco S&P SmallCap Momentum ETF 14.7 39 -4 3.7 -3.9
IWC iShares Micro-Cap ETF 14.4 60 -25 -3.9 -11.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 14.2 20 15 9.0 +1.4
EWMC Invesco S&P MidCap 400 Equal Weight ETF 14.1 40 -5 7.1 -0.5
VFLQ Vanguard U.S. Liquidity Factor ETF 14.1 14 21 4.1 -3.6
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 13.7 80 -45 5.6 -2.0
EZM WisdomTree U.S. MidCap Earnings Fund 13.1 38 -3 8.6 +1.0
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 13.0 39 -4 6.4 -1.3
JSML Janus Henderson Small Cap Growth Alpha ETF 13.0 30 5 7.9 +0.2
VB Vanguard Small-Cap ETF 12.8 5 30 5.2 -2.5
QABA First Trust NASDAQ ABA Community Bank Index Fund 12.7 60 -25 9.9 +2.3
PSCF Invesco S&P SmallCap Financials ETF 12.5 29 6 11.0 +3.4
JKL iShares Morningstar Small Cap Value ETF 12.5 30 5 9.8 +2.2
MDYV SPDR S&P 400 Mid Cap Value ETF 12.1 15 20 8.3 +0.7
IJJ iShares S&P Mid-Cap 400 Value ETF 12.1 25 10 8.1 +0.5
BUY USCF SummerHaven SHPEI Index Fund 11.9 80 -45 8.6 +0.9
XSVM Invesco S&P SmallCap Value with Momentum ETF 11.8 39 -4 9.0 +1.4
KRE SPDR S&P Regional Banking ETF 11.7 35 0 10.1 +2.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.7 15 20 8.2 +0.5
TUSA First Trust Total US Market AlphaDEX ETF 11.6 70 -35 5.6 -2.1
SMDY Syntax Stratified MidCap ETF 11.4 30 5 6.6 -1.0
VXF Vanguard Extended Market Index Fund 10.8 6 29 3.5 -4.2
SMDV ProShares Russell 2000 Dividend Growers ETF 10.8 41 -6 6.4 -1.2
CALF Pacer US Small Cap Cash Cows 100 ETF 10.3 59 -24 8.8 +1.2
PSCI Invesco S&P SmallCap Industrials ETF 9.7 29 6 6.4 -1.3
DWAS Invesco DWA SmallCap Momentum ETF 9.6 60 -25 -2.0 -9.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 9.6 66 -31 2.2 -5.4
RWK Invesco S&P MidCap 400 Revenue ETF 9.4 39 -4 7.9 +0.2
MDY SPDR S&P Midcap 400 ETF Trust 8.9 23 12 6.2 -1.4
SPMD SPDR Portfolio Mid Cap ETF 8.9 5 30 6.4 -1.2
IJH iShares Core S&P Mid-Cap ETF 8.9 5 30 6.4 -1.2
VUSE Vident Core US Equity Fund 8.8 48 -13 8.7 +1.1
IVOO Vanguard S&P Mid-Cap 400 ETF 8.6 10 25 6.2 -1.5
IFRA iShares U.S. Infrastructure ETF 8.6 40 -5 5.5 -2.2
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 8.6 30 5 5.5 -2.2

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

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.8 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.