VictoryShares USAA MSCI International Value Momentum ETF
ALTAR
Score™
8.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
0.8x
P/BV
ratio
1.0x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The fund seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the MSCI World ex USA Select Value Momentum Blend Index.

FUND BASICS
Category International Equities
Fund Sponsor USAA Asset Management
Website www.usaa.com
Inception date Oct 24, 2017
Assets (mns) $323
Currency USD
Expense ratio 35 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 315
Wgt avg mkt cap (mns) $24,175
Large cap (>$10bn) 55.3%
Mid cap ($2-10bn) 44.2%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HYDRO ONE LTD. 1.0 %
INTACT FINANCIAL CORP 0.9 %
SWISS PRIME SITE-REG 0.9 %
ALGONQUIN POWER & UTILITIES 0.9 %
METRO INC -A 0.8 %
ROCHE HOLDING AG-GENUSSCHEIN 0.8 %
HAKON INVEST AB 0.8 %
SEGRO PLC 0.8 %
CARLSBERG AS-B 0.8 %
IBERDROLA SA 0.8 %
Total 8.3 %

TOP COUNTRY EXPOSURE
JAPAN 28.4 %
CANADA 12.0 %
FRANCE 8.9 %
BRITAIN 8.8 %
AUSTRALIA 5.6 %
GERMANY 5.5 %
SWITZERLAND 4.0 %
ISRAEL 3.3 %
NETHERLANDS 2.8 %
SWEDEN 2.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-17.8% -10.1% -- -- -8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.85 80%
MSCI EAFE 1.02 97%
MSCI Emg. Mkts. 0.79 85%

Technical Indicators
Recent close $39.41
30d moving avg. $36.23
Annualized volatility 17.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.2%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $23,726

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: UIVM Expense: 35 bp ALTAR Score™: 8.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH UIVM
Ticker Fund
Name
Overlap1
vs UIVM
(%)
Expense
ratio
(bp)
Savings
vs UIVM
(bp)
ALTAR
Score™
(%)
ALTAR
vs UIVM
(%)
IVLU iShares Edge MSCI Intl Value Factor ETF 36.1 30 5 11.2 +2.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 33.7 25 10 6.8 -1.8
IQIN IQ 500 International ETF 33.7 25 10 8.9 +0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 33.2 29 6 8.6 +0.0
ISZE iShares Edge MSCI Intl Size Factor ETF 31.1 30 5 6.9 -1.7
FNDF Schwab Fundamental International Large Co. Index ETF 31.0 25 10 8.6 +0.0
JHMD John Hancock Multifactor Developed International ETF 30.6 45 -10 7.4 -1.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 30.5 29 6 8.0 -0.5
INTF iShares Edge MSCI Multifactor Intl ETF 30.2 30 5 8.3 -0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 30.0 45 -10 8.8 +0.2
CIL VictoryShares International Volatility Weighted Index ETF 29.5 45 -10 6.7 -1.9
EFV iShares MSCI EAFE Value ETF 28.6 39 -4 10.0 +1.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 28.6 39 -4 6.6 -1.9
QEFA SPDR MSCI EAFE Quality Mix ETF 28.5 30 5 6.8 -1.8
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 28.5 48 -13 0.0 -8.6
ISDX Invesco Strategic Developed ex-US ETF 28.5 23 12 7.4 -1.2
JPIN JPMorgan Diversified Return International Equity ETF 28.4 38 -3 7.9 -0.7
EFA iShares MSCI EAFE ETF 28.3 32 3 7.1 -1.4
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 28.0 35 0 7.0 -1.6
JPGE JPMorgan Diversified Return Global Equity ETF 27.9 29 6 7.3 -1.3
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 27.8 24 11 7.2 -1.4
TPIF Timothy Plan International ETF 27.5 62 -27 7.0 -1.6
HFXI IQ 50 Percent Hedged FTSE International ETF 27.1 20 15 7.5 -1.1
ESGD iShares MSCI EAFE ESG Optimized ETF 26.8 20 15 7.2 -1.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 26.6 20 15 7.2 -1.3
EWJE iShares MSCI Japan Equal Weighted ETF 26.5 15 20 7.0 -1.6
SCHF Schwab International Equity ETF 25.9 6 29 7.4 -1.2
SPDW SPDR Portfolio Developed World ex-US ETF 25.7 4 31 7.2 -1.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 25.6 7 28 7.6 -1.0
PDEV Principal International Multi-Factor Core Index ETF 25.5 25 10 7.8 -0.7
IDEV iShares Core MSCI International Developed Markets ETF 25.5 5 30 7.2 -1.3
IEFA iShares Core MSCI EAFE ETF 25.3 7 28 7.3 -1.3
DWMF WisdomTree International Multifactor Fund 25.1 38 -3 6.8 -1.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 25.0 20 15 5.9 -2.7
IDY Pacific Global International Equity Income ETF 24.8 39 -4 8.0 -0.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 24.7 25 10 6.7 -1.9
SCID Global X Scientific Beta Europe ETF 24.3 38 -3 6.9 -1.7
IQSI IQ Candriam ESG International Equity ETF 23.7 15 20 7.3 -1.3
VEA Vanguard FTSE Developed Markets ETF 23.6 5 30 7.4 -1.2
SCIJ Global X Scientific Beta Japan ETF 23.6 39 -4 7.1 -1.5
JPEU JPMorgan Diversified Return Europe Equity ETF 23.6 37 -2 6.8 -1.8
FDEV Fidelity Targeted International Factor ETF 23.4 39 -4 6.5 -2.1
DWM WisdomTree International Equity Fund 23.4 48 -13 8.2 -0.4
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 23.1 35 0 8.5 -0.0
CWI SPDR MSCI ACWI ex-US ETF 22.9 30 5 7.6 -1.0
FDT First Trust Developed Markets ex-US Alphadex Fund 22.8 80 -45 7.7 -0.8
IDMO Invesco S&P International Developed Momentum ETF 22.8 25 10 4.6 -3.9
ACWX iShares MSCI ACWI ex U.S. ETF 22.3 32 3 7.5 -1.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 22.0 40 -5 7.3 -1.2
LVIN Hartford Multifactor Low Volatility International Equity ETF 21.7 29 6 12.1 +3.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 21.6 45 -10 6.7 -1.9
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 21.5 25 10 7.5 -1.0
QINT American Century Quality Diversified International ETF 21.5 39 -4 5.9 -2.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 21.4 30 5 5.0 -3.6
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 21.3 14 21 7.0 -1.6
IEV iShares Europe ETF 21.1 59 -24 6.8 -1.8
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 21.1 30 5 6.8 -1.7
BBEU JPMorgan BetaBuilders Europe ETF 20.9 9 26 7.2 -1.3
FLEE Franklin FTSE Europe ETF 20.9 9 26 7.0 -1.6
VYMI Vanguard International High Dividend Yield ETF 20.8 32 3 10.1 +1.5
FLEH Franklin FTSE Europe Hedged ETF 20.8 9 26 7.1 -1.5
IPAC iShares Core MSCI Pacific ETF 20.8 9 26 7.4 -1.1
RFDI First Trust Riverfront Dynamic Developed International ETF 20.7 83 -48 6.3 -2.3
EWJ iShares MSCI Japan ETF 20.5 49 -14 7.3 -1.2
BBJP JPMorgan BetaBuilders Japan ETF 20.5 19 16 7.6 -1.0
DIM WisdomTree International MidCap Dividend Fund 20.4 58 -23 7.6 -1.0
VEU Vanguard FTSE All-World ex-US Index Fund 20.3 8 27 7.7 -0.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 20.3 39 -4 9.1 +0.5
DBJP Xtrackers MSCI Japan Hedged Equity ETF 20.2 45 -10 7.3 -1.3
IEUR iShares Core MSCI Europe ETF 20.2 9 26 7.3 -1.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 19.9 32 3 6.5 -2.1
QJPN SPDR MSCI Japan StrategicFactors ETF 19.8 14 21 7.9 -0.7
IXUS ishares Core MSCI Total International Stock ETF 19.7 9 26 7.5 -1.1
VGK Vanguard FTSE Europe ETF 19.5 8 27 7.3 -1.3
DOL WisdomTree International LargeCap Dividend Fund 19.5 48 -13 8.5 -0.1
FEU SPDR Portfolio Europe ETF 19.4 9 26 7.3 -1.3
EWJV iShares MSCI Japan Value ETF 19.1 15 20 10.7 +2.1
EZU iShares MSCI Eurozone ETF 19.0 49 -14 6.7 -1.9
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 18.9 30 5 7.5 -1.1
VXUS Vanguard Total International Stock Index Fund 18.8 8 27 7.7 -0.9
FLJP Franklin FTSE Japan ETF 18.8 9 26 7.8 -0.8
AVDE Avantis International Equity ETF 18.7 23 12 7.9 -0.7
IDLV Invesco S&P International Developed Low Volatility ETF 18.7 25 10 6.8 -1.7
FLJH Franklin FTSE Japan Hedged ETF 18.7 9 26 7.7 -0.9
VPL Vanguard FTSE Pacific ETF 18.5 8 27 7.7 -0.8
JPXN iShares JPX-Nikkei 400 ETF 18.3 48 -13 7.4 -1.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 18.2 45 -10 6.7 -1.8
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 18.1 9 26 7.8 -0.7
FIVA Fidelity International Value Factor ETF 17.9 39 -4 10.1 +1.5
EURZ Xtrackers Eurozone Equity ETF 17.9 9 26 7.0 -1.5
RBIN Nationwide Risk-Based International Equity ETF 17.8 42 -7 6.4 -2.1
VSGX Vanguard ESG International Stock ETF 17.7 17 18 7.3 -1.2
EUMV iShares Edge MSCI Min Vol Europe ETF 17.7 25 10 5.5 -3.1
EFG iShares MSCI EAFE Growth ETF 17.6 40 -5 4.7 -3.9
RNDM Developed International Equity Select ETF 17.4 65 -30 6.4 -2.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 17.2 45 -10 7.1 -1.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 17.0 16 19 7.1 -1.5
NUDM Nuveen ESG International Developed Markets Equity ETF 16.9 40 -5 6.9 -1.7
MVIN Natixis Seeyond International Minimum Volatility ETF 16.6 55 -20 5.7 -2.8

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 USAA MSCI International Value Momentum 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 8.7 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.