VictoryShares USAA MSCI International Value Momentum ETF
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
17.9x P/Sales
ratio
0.9x
P/BV
ratio
1.1x Div.
yield
2.4%


  • 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) $431
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 292
Wgt avg mkt cap (mns) $26,111
Large cap (>$10bn) 68.8%
Mid cap ($2-10bn) 28.9%
Small cap (<$2bn) 0.4%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
METRO INC -A 0.9 %
HYDRO ONE LTD. 0.9 %
SEGRO PLC 0.8 %
LOBLAW COMPANIES LTD 0.8 %
DONG ENERGY A/S 0.8 %
HONG KONG EXCHANGES & CLEAR 0.8 %
WILMAR INTERNATIONAL LTD 0.8 %
WM MORRISON SUPERMARKETS 0.8 %
IBERDROLA SA 0.7 %
SOFINA 0.7 %
Total 7.9 %

TOP COUNTRY EXPOSURE
JAPAN 27.6 %
BRITAIN 10.3 %
GERMANY 9.9 %
CANADA 9.3 %
FRANCE 7.8 %
HONG KONG 4.4 %
SWEDEN 4.2 %
DENMARK 3.6 %
AUSTRALIA 3.6 %
NETHERLANDS 2.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.7% 0.7% -- -- -0.7%

Market Correlations
versus... Beta R-squared
S&P500 0.88 82%
MSCI EAFE 0.95 95%
MSCI Emg. Mkts. 0.77 79%

Technical Indicators
Recent close $46.88
30d moving avg. $45.85
Annualized volatility 18.2%
Short interest (ETF) 0.1%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.1%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $24,806

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 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™: 7.7%


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
(%)
DFAI Dimensional International Core Equity Market ETF 54.7 18 17 6.4 -1.3
IVLU iShares Edge MSCI Intl Value Factor ETF 34.9 30 5 9.9 +2.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 33.3 25 10 6.0 -1.7
PQIN PGIM QMA Strategic Alpha International Equity ETF 33.2 29 6 7.1 -0.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 32.5 30 5 4.1 -3.6
FDT First Trust Developed Markets ex-US Alphadex Fund 30.5 80 -45 7.6 -0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 30.1 30 5 6.3 -1.5
INTF iShares Edge MSCI Multifactor Intl ETF 29.9 30 5 7.2 -0.5
DWMF WisdomTree International Multifactor Fund 29.3 38 -3 6.2 -1.5
IQIN IQ 500 International ETF 28.7 25 10 7.6 -0.1
FEP First Trust Europe AlphaDEX Fund 28.3 80 -45 7.4 -0.3
JHMD John Hancock Multifactor Developed International ETF 27.1 39 -4 6.6 -1.1
EWJE iShares MSCI Japan Equal Weighted ETF 27.0 15 20 6.4 -1.3
CIL VictoryShares International Volatility Weighted Index ETF 27.0 45 -10 6.4 -1.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 27.0 45 -10 6.3 -1.4
QINT American Century Quality Diversified International ETF 26.9 39 -4 5.7 -2.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 26.8 24 11 6.5 -1.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 26.7 25 10 5.9 -1.8
IDMO Invesco S&P International Developed Momentum ETF 26.5 26 9 3.7 -4.0
PDEV Principal International Multi-Factor Core Index ETF 26.0 25 10 7.1 -0.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 26.0 45 -10 7.6 -0.1
EFA iShares MSCI EAFE ETF 25.9 32 3 6.2 -1.5
FNDF Schwab Fundamental International Large Co. Index ETF 25.7 25 10 7.7 -0.0
EFV iShares MSCI EAFE Value ETF 25.7 39 -4 8.4 +0.6
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 25.5 35 0 6.1 -1.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 25.2 39 -4 5.6 -2.2
GSID Goldman Sachs MarketBeta International Equity ETF 25.1 20 15 6.3 -1.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 25.1 20 15 6.4 -1.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 25.0 29 6 7.3 -0.4
ESGD iShares MSCI EAFE ESG Optimized ETF 24.9 20 15 6.2 -1.6
TPIF Timothy Plan International ETF 24.8 62 -27 6.1 -1.7
HFXI IQ 50 Percent Hedged FTSE International ETF 24.6 20 15 6.4 -1.3
BKIE BNY Mellon International Equity ETF 24.5 4 31 6.5 -1.2
QEFA SPDR MSCI EAFE Quality Mix ETF 24.1 30 5 6.0 -1.8
RBIN Nationwide Risk-Based International Equity ETF 24.0 42 -7 6.0 -1.7
RESD WisdomTree International ESG Fund 23.8 30 5 6.5 -1.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 23.7 35 0 5.9 -1.8
IQSI IQ Candriam ESG International Equity ETF 23.5 15 20 6.4 -1.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 23.4 7 28 6.5 -1.2
SCHF Schwab International Equity ETF 23.4 6 29 6.5 -1.2
JPIN JPMorgan Diversified Return International Equity ETF 23.3 37 -2 7.1 -0.7
ISDX Invesco RAFI Strategic Developed ex-US ETF 22.7 23 12 6.3 -1.4
IEFA iShares Core MSCI EAFE ETF 22.6 7 28 6.5 -1.2
IDEV iShares Core MSCI International Developed Markets ETF 22.6 5 30 6.5 -1.3
SPDW SPDR Portfolio Developed World ex-US ETF 22.2 4 31 6.2 -1.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 22.0 25 10 6.2 -1.5
VEA Vanguard FTSE Developed Markets ETF 21.3 5 30 6.6 -1.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 21.0 40 -5 7.2 -0.5
DWM WisdomTree International Equity Fund 21.0 48 -13 7.2 -0.5
DMXF iShares ESG Advanced MSCI EAFE ETF 20.8 12 23 6.2 -1.5
FEUZ First Trust Eurozone AlphaDEX ETF 20.7 80 -45 7.0 -0.7
IEV iShares Europe ETF 20.6 59 -24 6.2 -1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 20.6 45 -10 6.0 -1.8
BBEU JPMorgan BetaBuilders Europe ETF 20.5 9 26 6.6 -1.1
FLEE Franklin FTSE Europe ETF 20.5 9 26 6.4 -1.3
FLEH Franklin FTSE Europe Hedged ETF 20.3 9 26 6.5 -1.3
IPAC iShares Core MSCI Pacific ETF 20.1 9 26 6.3 -1.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 19.9 14 21 6.1 -1.6
EWJ iShares MSCI Japan ETF 19.7 51 -16 6.1 -1.6
EZU iShares MSCI Eurozone ETF 19.6 51 -16 6.0 -1.7
AVDE Avantis International Equity ETF 19.5 23 12 6.9 -0.8
DBJP Xtrackers MSCI Japan Hedged Equity ETF 19.5 45 -10 6.1 -1.7
BBJP JPMorgan BetaBuilders Japan ETF 19.4 19 16 6.4 -1.3
VGK Vanguard FTSE Europe ETF 19.4 8 27 6.7 -1.0
FDEV Fidelity Targeted International Factor ETF 19.2 39 -4 6.2 -1.6
IEUR iShares Core MSCI Europe ETF 19.0 9 26 6.6 -1.2
ZJPN SPDR Solactive Japan ETF 19.0 14 21 6.5 -1.2
VSGX Vanguard ESG International Stock ETF 19.0 17 18 6.3 -1.4
CWI SPDR MSCI ACWI ex-US ETF 19.0 30 5 6.2 -1.6
SPEU SPDR Portfolio Europe ETF 18.9 9 26 6.7 -1.0
FLJP Franklin FTSE Japan ETF 18.9 9 26 6.6 -1.1
FLJH Franklin FTSE Japan Hedged ETF 18.9 9 26 6.5 -1.2
EURZ Xtrackers Eurozone Equity ETF 18.9 9 26 6.5 -1.2
ACWX iShares MSCI ACWI ex U.S. ETF 18.7 32 3 6.3 -1.4
DOL WisdomTree International LargeCap Dividend Fund 18.6 48 -13 7.2 -0.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 18.5 45 -10 6.0 -1.8
EFG iShares MSCI EAFE Growth ETF 18.3 40 -5 4.1 -3.7
IDLB Invesco FTSE International Low Beta Equal Weight ETF 18.2 45 -10 6.1 -1.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 18.1 40 -5 6.1 -1.6
VYMI Vanguard International High Dividend Yield ETF 18.0 27 8 9.0 +1.3
FIVA Fidelity International Value Factor ETF 17.9 39 -4 8.7 +1.0
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 17.9 9 26 6.6 -1.1
JPXN iShares JPX-Nikkei 400 ETF 17.8 48 -13 6.2 -1.5
EWJV iShares MSCI Japan Value ETF 17.8 15 20 8.9 +1.2
VPL Vanguard FTSE Pacific ETF 17.7 8 27 6.4 -1.3
VEU Vanguard FTSE All-World ex-US Index Fund 17.7 8 27 6.7 -1.1
RODE Hartford Multifactor Diversified International ETF 17.5 29 6 10.5 +2.8
IDLV Invesco S&P International Developed Low Volatility ETF 17.5 25 10 6.2 -1.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 17.0 30 5 5.2 -2.5
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 17.0 39 -4 7.4 -0.3
VWID Virtus WMC International Dividend ETF 16.6 49 -14 7.4 -0.3
IXUS ishares Core MSCI Total International Stock ETF 16.5 9 26 6.4 -1.3
ESGN Columbia Sustainable International Equity Income ETF 16.5 45 -10 9.2 +1.5
DIM WisdomTree International MidCap Dividend Fund 16.4 58 -23 7.1 -0.6
RNDM First Trust Developed International Equity Select ETF 16.4 65 -30 5.7 -2.0
ICOW Pacer Developed Markets International Cash Cows 100 ETF 16.4 65 -30 10.1 +2.4

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 8.6 %
Divided by: Fwd. P/BV 1.1 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
1.58 CATEGORY
AVERAGE
1.54
 
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.