VictoryShares USAA MSCI International Value Momentum ETF
ALTAR
Score™
8.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
12.0x P/Sales
ratio
0.8x
P/BV
ratio
1.0x Div.
yield
3.6%


  • 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) $331
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 321
Wgt avg mkt cap (mns) $28,768
Large cap (>$10bn) 63.8%
Mid cap ($2-10bn) 36.1%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HYDRO ONE LTD. 1.0 %
NESTLE SA-REG 0.8 %
EMERA INC 0.8 %
SEGRO PLC 0.8 %
MUENCHENER RUECKVER AG-REG 0.7 %
THOMSON REUTERS CORPORATION 0.7 %
HANNOVER RUECKVERSICHERU-REG 0.7 %
TRANSCANADA CORP 0.7 %
IBERDROLA SA 0.7 %
ASX LTD 0.7 %
Total 7.4 %

TOP COUNTRY EXPOSURE
JAPAN 26.0 %
BRITAIN 10.6 %
CANADA 10.1 %
FRANCE 9.1 %
AUSTRALIA 6.3 %
GERMANY 6.2 %
SWITZERLAND 4.8 %
ISRAEL 3.9 %
NETHERLANDS 3.5 %
ITALY 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.5% 3.6% -- -- -2.4%

Market Correlations
versus... Beta R-squared
S&P500 0.80 70%
MSCI EAFE 1.05 95%
MSCI Emg. Mkts. 0.75 82%

Technical Indicators
Recent close $43.00
30d moving avg. $45.77
Annualized volatility 13.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.2%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $17,081

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 8.5%


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 37.1 30 5 11.4 +2.8
PQIN PGIM QMA Strategic Alpha International Equity ETF 36.6 29 6 7.7 -0.8
IQIN IQ 500 International ETF 36.3 25 10 9.1 +0.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 35.9 25 10 6.9 -1.6
TPIF Timothy Plan International ETF 35.0 62 -27 6.8 -1.8
REFA Invesco International Revenue ETF 34.8 42 -7 8.8 +0.2
ISZE iShares Edge MSCI Intl Size Factor ETF 32.8 30 5 7.1 -1.4
JHMD John Hancock Multifactor Developed International ETF 32.7 45 -10 7.5 -1.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 32.2 45 -10 8.6 +0.1
INTF iShares Edge MSCI Multifactor Intl ETF 32.1 30 5 8.5 -0.1
FNDF Schwab Fundamental International Large Co. Index ETF 31.9 25 10 8.8 +0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 31.9 29 6 8.1 -0.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 31.5 30 5 4.8 -3.7
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 31.2 45 -10 7.2 -1.4
CIL Victory CEMP International Volatility Weighted Index ETF 31.2 45 -10 7.2 -1.3
QEFA SPDR MSCI EAFE Quality Mix ETF 31.0 30 5 6.9 -1.7
EFA iShares MSCI EAFE ETF 30.7 32 3 7.2 -1.3
PDEV Principal International Multi-Factor Core Index ETF 30.4 25 10 6.9 -1.6
JPGE JPMorgan Diversified Return Global Equity ETF 29.8 29 6 7.3 -1.2
ESGD iShares MSCI EAFE ESG Optimized ETF 29.8 20 15 7.2 -1.3

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 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 9.1 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.64
 
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.