VictoryShares US Small Cap Volatility Weighted Index ETF
ALTAR
Score™
7.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
21.6x P/Sales
ratio
1.0x
P/BV
ratio
1.7x Div.
yield
1.9%


  • 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 441
Wgt avg mkt cap (mns) $1,709
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 33.9%
Small cap (<$2bn) 66.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NATIONAL GENERAL HLDGS 0.5 %
WINGSTOP, INC. 0.4 %
BJ'S WHOLESALE CLUB HOLDINGS, INC. 0.4 %
NELNET INC-CL A 0.4 %
TUPPERWARE BRANDS CORP 0.4 %
ACUSHNET HOLDINGS CORP. 0.4 %
WD-40 CO 0.4 %
WESTAMERICA BANCORPORATION 0.4 %
HOSTESS BRANDS, INC. CLASS A 0.4 %
WEIS MARKETS INC 0.4 %
Total 4.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.1 %
PUERTO RICO 0.6 %
BERMUDA 0.3 %
CAYMAN ISLANDS 0.3 %
NETHERLANDS 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.9% -9.6% -- -- 4.9%

Market Correlations
versus... Beta R-squared
S&P500 1.21 85%
MSCI EAFE 1.26 77%
MSCI Emg. Mkts. 0.85 58%

Technical Indicators
Recent close $44.09
30d moving avg. $41.31
Annualized volatility 22.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.5%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $6,634

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™: 7.6%


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
(%)
TPSC Timothy Plan US Small Cap Core ETF 87.9 52 -17 7.6 -0.1
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 79.2 35 0 7.7 +0.0
FYX First Trust Small Cap Core AlphaDEX Fund 42.6 63 -28 6.1 -1.6
SPSM SPDR Portfolio Small Cap ETF 42.1 5 30 6.5 -1.1
SLY SPDR S&P 600 Small Cap ETF 42.1 15 20 6.4 -1.2
IJR iShares Core S&P Small Cap ETF 42.0 7 28 6.5 -1.2
VIOO Vanguard S&P Small-Cap 600 ETF 41.2 10 25 6.5 -1.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 40.6 40 -5 6.0 -1.6
EES WisdomTree SmallCap Earnings Fund 39.9 38 -3 10.1 +2.4
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 37.4 29 6 4.6 -3.0
CSML IQ Chaikin U.S. Small Cap ETF 37.1 35 0 3.6 -4.0
DES WisdomTree U.S. SmallCap Dividend Fund 35.1 38 -3 8.0 +0.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 33.9 20 15 4.7 -2.9
RNSC Small Cap US Equity Select ETF 33.6 60 -25 6.8 -0.9
PSC Principal U.S. Small Cap Index ETF 33.4 38 -3 6.3 -1.3
FYT First Trust Small Cap Value AlphaDEX Fund 33.0 72 -37 9.2 +1.6
SSLY Syntax Stratified SmallCap ETF 32.8 30 5 5.9 -1.7
SLYG SPDR S&P 600 Small Cap Growth ETF 32.5 15 20 5.0 -2.6
IJT iShares S&P Small-Cap 600 Growth ETF 32.4 25 10 4.9 -2.7
ISMD Inspire Small/Mid Cap Impact ETF 32.3 60 -25 6.0 -1.6
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 32.2 29 6 0.0 -7.6
IWN iShares Russell 2000 Value ETF 32.0 24 11 6.7 -0.9
VIOG Vanguard S&P Small-Cap 600 Growth ETF 32.0 16 19 4.9 -2.7
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 31.8 35 0 5.7 -1.9
IWM iShares Russell 2000 ETF 29.8 19 16 3.4 -4.2
SLYV SPDR S&P 600 Small Cap Value ETF 29.5 15 20 8.2 +0.6
IJS iShares S&P Small-cap 600 Value ETF 29.4 25 10 8.1 +0.4
ROGS Hartford Multifactor Global Small Cap ETF 29.4 34 1 7.4 -0.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 29.3 39 -4 5.8 -1.8
VTWO Vanguard Russell 2000 Index Fund 29.0 10 25 3.5 -4.1
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 28.9 30 5 7.2 -0.5
AFSM First Trust Active Factor Small Cap ETF 28.7 75 -40 5.2 -2.4
VIOV Vanguard S&P Small-Cap 600 Value ETF 28.7 15 20 8.2 +0.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 28.6 38 -3 8.2 +0.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 27.3 29 6 5.7 -1.9
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 27.2 12 23 7.1 -0.5
AVUV Avantis U.S. Small Cap Value ETF 27.0 25 10 8.0 +0.4
VTWV Vanguard Russell 2000 Value Index Fund 27.0 15 20 6.9 -0.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 26.7 39 -4 3.9 -3.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 25.0 25 10 6.0 -1.6
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 25.0 24 11 6.5 -1.2
SQLV Legg Mason Small-Cap Quality Value 24.3 62 -27 7.2 -0.4
IWO iShares Russell 2000 Growth ETF 24.3 24 11 -0.1 -7.7
IUSS Invesco Strategic US Small Company ETF 24.0 23 12 4.9 -2.7
VTWG Vanguard Russell 2000 Growth Index Fund 23.8 15 20 -0.0 -7.7
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 21.7 35 0 8.7 +1.1
VFMF Vanguard U.S. Multifactor ETF 21.4 19 16 6.7 -1.0
SCHA Schwab U.S. Small-Cap ETF 21.4 4 31 4.4 -3.3
FYC First Trust Small Cap Growth AlphaDEX Fund 21.0 70 -35 1.8 -5.9
FSMD Fidelity Small-Mid Factor ETF 20.0 29 6 6.6 -1.1
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 18.2 17 18 4.8 -2.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 18.0 20 15 4.5 -3.1
RZG Invesco S&P Smallcap 600 Pure Growth ETF 18.0 35 0 5.6 -2.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 17.7 6 29 5.0 -2.7
NUSC Nuveen ESG Small-Cap ETF 17.5 40 -5 4.8 -2.8
VFQY Vanguard U.S. Quality Factor ETF 17.0 13 22 5.7 -2.0
VBR Vanguard Small Cap Value Index Fund 17.0 7 28 7.9 +0.2
FAB First Trust Multi Cap Value AlphaDEX Fund 16.5 71 -36 9.4 +1.7
XSHQ Invesco S&P SmallCap Quality ETF 16.3 29 6 6.1 -1.5
XSLV Invesco S&P SmallCap Low Volatility ETF 16.3 25 10 5.7 -1.9
BKSE BNY Mellon US Small Cap Core Equity ETF 16.2 4 31 5.7 -1.9
JSML Janus Henderson Small Cap Growth Alpha ETF 15.8 30 5 7.2 -0.4
VFVA Vanguard U.S. Value Factor ETF 15.5 14 21 10.6 +2.9
EZM WisdomTree U.S. MidCap Earnings Fund 14.9 38 -3 8.6 +0.9
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 14.8 39 -4 6.2 -1.5
BFOR Barron's 400 ETF 14.8 65 -30 5.9 -1.7
JKJ iShares Morningstar Small-Cap ETF 14.4 25 10 6.3 -1.4
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 14.2 80 -45 5.0 -2.6
PXSG Invesco S&P SmallCap Momentum ETF 13.8 39 -4 4.6 -3.0
DWAS Invesco DWA SmallCap Momentum ETF 13.4 60 -25 -2.3 -9.9
VB Vanguard Small-Cap ETF 13.0 5 30 5.2 -2.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 13.0 20 15 8.9 +1.3
XSVM Invesco S&P SmallCap Value with Momentum ETF 12.8 39 -4 9.1 +1.5
IWC iShares Micro-Cap ETF 12.7 60 -25 -3.4 -11.0
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 12.3 29 6 7.1 -0.5
QABA First Trust NASDAQ ABA Community Bank Index Fund 12.2 60 -25 10.1 +2.5
PSCI Invesco S&P SmallCap Industrials ETF 12.2 29 6 6.0 -1.6
JKL iShares Morningstar Small Cap Value ETF 12.1 30 5 9.6 +2.0
KRE SPDR S&P Regional Banking ETF 12.1 35 0 10.6 +3.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 11.9 40 -5 6.6 -1.1
VUSE Vident Core US Equity Fund 11.9 48 -13 8.4 +0.8
CALF Pacer US Small Cap Cash Cows 100 ETF 11.6 59 -24 10.1 +2.4
JHSC John Hancock Multifactor Small Cap ETF 11.6 42 -7 5.6 -2.1
VFLQ Vanguard U.S. Liquidity Factor ETF 11.4 14 21 4.4 -3.2
JKK iShares Morningstar Small-Cap Growth ETF 11.0 30 5 1.1 -6.6
VXF Vanguard Extended Market Index Fund 10.9 7 28 3.5 -4.2
BUY USCF SummerHaven SHPEI Index Fund 10.5 80 -45 8.5 +0.9
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 10.4 30 5 5.4 -2.2
SMDV ProShares Russell 2000 Dividend Growers ETF 10.0 40 -5 6.1 -1.5
MDYV SPDR S&P 400 Mid Cap Value ETF 9.9 15 20 8.1 +0.4
IVOV Vanguard S&P Mid-Cap 400 Value ETF 9.9 15 20 8.1 +0.4
IJJ iShares S&P Mid-Cap 400 Value ETF 9.9 25 10 8.0 +0.3
PSCF Invesco S&P SmallCap Financials ETF 9.8 29 6 10.6 +3.0
SMDY Syntax Stratified MidCap ETF 9.3 30 5 5.9 -1.7
TUSA First Trust Total US Market AlphaDEX ETF 9.3 70 -35 5.6 -2.0
VBK Vanguard Small-Cap Growth Index Fund 9.0 7 28 2.2 -5.4
VAMO Cambria Value & Momentum ETF 8.8 64 -29 6.3 -1.4
FAD First Trust Multi Cap Growth AlphaDEX Fund 8.7 66 -31 2.2 -5.4
RZV Invesco S&P Smallcap 600 Pure Value ETF 8.4 35 0 7.1 -0.6
FDM First Trust Dow Jones Select Microcap Index Fund 8.3 60 -25 6.6 -1.0

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

  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 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 12.8 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.