VictoryShares USAA MSCI USA Value Momentum ETF
ALTAR
Score™
7.3% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.9x P/Sales
ratio
1.2x
P/BV
ratio
1.8x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ULVM tracks an index of large- and midcap US stocks that are selected by equal parts value and momentum and weighted by volatility.

FUND BASICS
Category US Equities
Fund Sponsor USAA Asset Management
Website www.usaa.com
Inception date Oct 24, 2017
Assets (mns) $498
Currency USD
Expense ratio 20 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 214
Wgt avg mkt cap (mns) $84,412
Large cap (>$10bn) 83.1%
Mid cap ($2-10bn) 16.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DANAHER CORP 1.1 %
MICROSOFT CORP 1.1 %
IHS MARKIT LTD. 1.0 %
APPLE INC 1.0 %
EQUINIX INC 1.0 %
FIDELITY NATIONAL INFORMATIO 1.0 %
AMERICAN TOWER CORP-CL A 0.9 %
EQUITY LIFESTYLE PROPERTIES 0.9 %
KANSAS CITY SOUTHERN 0.9 %
PACCAR INC 0.9 %
Total 9.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.8 %
IRELAND 3.0 %
BRITAIN 1.4 %
BERMUDA 1.3 %
SWITZERLAND 0.5 %
NETHERLANDS 0.3 %





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.
-11.1% -6.5% -- -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 1.10 95%
MSCI EAFE 1.15 86%
MSCI Emg. Mkts. 0.82 72%

Technical Indicators
Recent close $48.80
30d moving avg. $47.16
Annualized volatility 20.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.1%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $128,193

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the VictoryShares USAA MSCI USA Value Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with ULVM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ULVM Expense: 20 bp ALTAR Score™: 7.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ULVM
Ticker Fund
Name
Overlap1
vs ULVM
(%)
Expense
ratio
(bp)
Savings
vs ULVM
(bp)
ALTAR
Score™
(%)
ALTAR
vs ULVM
(%)
FEX First Trust Large Cap Core AlphaDEX Fund 39.8 60 -40 5.8 -1.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 37.8 17 3 6.2 -1.0
AFLG First Trust Active Factor Large Cap ETF 36.4 55 -35 5.3 -2.0
VLUE iShares Edge MSCI USA Value Factor ETF 36.3 15 5 11.2 +3.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 36.1 30 -10 6.2 -1.1
SCIU Global X Scientific Beta US ETF 36.0 19 1 5.6 -1.7
RNLC Large Cap US Equity Select ETF 36.0 60 -40 5.9 -1.3
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 34.8 9 11 5.8 -1.5
SIZE iShares Edge MSCI USA Size Factor ETF 34.4 15 5 6.0 -1.3
EUSA iShares MSCI USA Equal Weighted ETF 34.3 15 5 5.9 -1.3
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 34.2 17 3 6.1 -1.2
ONEO SPDR Russell 1000 Momentum Focus ETF 34.2 20 0 6.1 -1.1
RSP Invesco S&P 500 Equal Weight ETF 33.9 20 0 6.4 -0.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 33.3 18 2 5.9 -1.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 32.6 9 11 5.3 -2.0
FTA First Trust Large Cap Value AlphaDEX Fund 32.5 60 -40 8.9 +1.6
LRGF iShares Edge MSCI Multifactor USA ETF 32.4 20 0 7.0 -0.2
AUSF Global X Adaptive U.S. Factor ETF 32.0 27 -7 7.5 +0.3
ROUS Hartford Multifactor US Equity ETF 31.7 19 1 6.9 -0.3
RBUS Nationwide Risk-Based U.S. Equity ETF 31.1 30 -10 4.6 -2.7
CFA VictoryShares US 500 Volatility Weighted Index ETF 30.8 35 -15 5.6 -1.7
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 30.8 35 -15 5.6 -1.7
JVAL JPMorgan U.S. Value Factor ETF 30.8 12 8 8.3 +1.0
JHML John Hancock Multifactor Large Cap ETF 29.9 29 -9 5.3 -2.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 29.9 4 16 5.3 -1.9
JMOM JPMorgan U.S. Momentum Factor ETF 29.3 12 8 3.6 -3.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 29.3 29 -9 5.8 -1.5
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 28.7 35 -15 5.2 -2.1
RWL Invesco S&P 500 Revenue ETF 28.7 39 -19 6.8 -0.4
VO Vanguard Mid-Cap Index Fund 28.3 4 16 5.1 -2.2
TPLC Timothy Plan US Large Cap Core ETF 27.9 52 -32 5.1 -2.1
PRF Invesco FTSE RAFI US 1000 ETF 27.7 39 -19 6.5 -0.8
USMF WisdomTree U.S. Multifactor Fund 27.6 28 -8 5.3 -2.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 27.6 20 0 6.7 -0.6
SPVM Invesco S&P 500 Value with Momentum ETF 27.3 39 -19 8.6 +1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 27.3 25 -5 6.1 -1.1
MTUM iShares Edge MSCI USA Momentum Factor ETF 27.1 15 5 4.1 -3.2
IUS Invesco Strategic US ETF 27.1 19 1 6.2 -1.0
VLU SPDR S&P 1500 Value Tilt ETF 27.0 12 8 7.0 -0.2
VUSE Vident Core US Equity Fund 26.9 48 -28 8.4 +1.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 26.8 29 -9 7.6 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 26.7 15 5 5.6 -1.6
JMIN JPMorgan U.S. Minimum Volatility ETF 26.5 12 8 5.3 -2.0
FDMO Fidelity Momentum Factor ETF 26.2 29 -9 3.7 -3.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 26.2 25 -5 6.1 -1.1
VOE Vanguard Mid-Cap Value Index Fund 26.1 7 13 7.5 +0.2
EXT WisdomTree U.S. Total Earnings Fund 25.8 28 -8 5.0 -2.3
SFY SoFi Select 500 ETF 25.7 0 20 5.0 -2.3
IWS iShares Russell Mid-Cap Value ETF 25.6 24 -4 6.8 -0.5
TUSA First Trust Total US Market AlphaDEX ETF 25.6 70 -50 5.6 -1.6
EPS WisdomTree U.S. Earnings 500 Fund 25.5 8 12 6.2 -1.1
FAB First Trust Multi Cap Value AlphaDEX Fund 25.3 71 -51 9.4 +2.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 25.3 24 -4 5.9 -1.4
PBUS Invesco PureBeta MSCI USA ETF 25.3 4 16 5.0 -2.2
IWR iShares Russell Midcap ETF 25.2 19 1 5.4 -1.9
JKI iShares Morningstar Mid-Cap Value ETF 25.1 30 -10 8.6 +1.4
IWD iShares Russell 1000 Value ETF 25.1 19 1 6.7 -0.6
VONV Vanguard Russell 1000 Value Index Fund 25.1 8 12 6.8 -0.5
PVAL Principal Contrarian Value Index ETF 25.1 29 -9 9.3 +2.0
AVUS Avantis U.S. Equity ETF 25.0 15 5 5.4 -1.9
PBP Invesco S&P 500 BuyWrite ETF 24.9 49 -29 4.7 -2.5
MXDU Nationwide Maximum Diversification US Core Equity ETF 24.9 34 -14 4.7 -2.6
JHMM John Hancock Multifactor Mid Cap ETF 24.8 42 -22 5.4 -1.8
ESGU iShares MSCI USA ESG Optimized ETF 24.8 15 5 4.9 -2.4
SCHX Schwab U.S. Large-Cap ETF 24.7 3 17 5.1 -2.2
RPG Invesco S&P 500 Pure Growth ETF 24.7 35 -15 4.3 -3.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 24.6 2 18 5.1 -2.2
HSPX Global X S&P 500 Covered Call ETF 24.6 65 -45 4.6 -2.7
VV Vanguard Large-Cap Index Fund 24.4 4 16 5.0 -2.3
FTC First Trust Large Cap Growth AlphaDEX Fund 24.4 61 -41 2.7 -4.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 24.4 7 13 5.0 -2.3
VFMF Vanguard U.S. Multifactor ETF 24.2 19 1 6.7 -0.6
SPY SPDR S&P 500 ETF Trust 24.2 9 11 5.1 -2.2
VONE Vanguard Russell 1000 ETF 24.2 8 12 5.0 -2.3
SCHK Schwab 1000 Index ETF 24.2 5 15 5.0 -2.2
SPLG SPDR Portfolio Large Cap ETF 24.1 3 17 5.2 -2.1
IVV iShares Core S&P 500 ETF 24.1 4 16 5.2 -2.1
IWB iShares Russell 1000 ETF 24.1 15 5 4.9 -2.4
VOO VANGUARD S&P 500 ETF 24.1 3 17 5.2 -2.1
SPXT ProShares S&P 500 Ex-Technology ETF 24.0 27 -7 5.4 -1.9
CATH Global X S&P 500 Catholic Values Custom ETF 24.0 29 -9 5.0 -2.3
IYY iShares Dow Jones U.S. ETF 24.0 20 0 4.9 -2.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 23.9 20 0 5.1 -2.2
VALQ American Century STOXX U.S. Quality Value ETF 23.9 29 -9 8.4 +1.1
VTV Vanguard Value Index Fund 23.8 4 16 7.1 -0.1
SPXE ProShares S&P 500 Ex-Energy ETF 23.8 27 -7 5.1 -2.2
FVL First Trust Value Line 100 Exchange-Traded Fund 23.8 70 -50 4.5 -2.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 23.8 29 -9 6.6 -0.7
DIVB iShares U.S. Dividend & Buyback ETF 23.4 25 -5 6.3 -1.0
QLC FlexShares US Quality Large Cap Index Fund 23.4 32 -12 5.2 -2.1
SPYV SPDR Portfolio S&P 500 Value ETF 23.3 4 16 7.1 -0.2
IVE iShares S&P 500 Value ETF 23.3 18 2 7.0 -0.3
VOOV Vanguard S&P 500 Value ETF 23.3 15 5 7.0 -0.2
FLQL Franklin LibertyQ U.S. Equity ETF 23.3 15 5 5.9 -1.4
SCHB Schwab U.S. Broad Market ETF 23.3 3 17 5.0 -2.3
RECS Columbia Research Enhanced Core ETF 23.3 15 5 5.4 -1.9
SPTM SPDR Portfolio Total Stock Market ETF 23.2 3 17 5.3 -2.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.2 3 17 4.9 -2.3
IWV iShares Russell 3000 ETF 23.1 20 0 4.8 -2.5
VTHR Vanguard Russell 3000 Index Fund 23.1 10 10 4.8 -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 USA 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 13.0 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.