VictoryShares USAA MSCI USA Value Momentum ETF
ALTAR
Score™
7.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
17.8x P/Sales
ratio
1.1x
P/BV
ratio
1.9x Div.
yield
1.9%


  • 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) $472
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 200
Wgt avg mkt cap (mns) $92,858
Large cap (>$10bn) 83.1%
Mid cap ($2-10bn) 16.6%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ZOOM VIDEO COMMUNICATIONS, INC. CL 1.4 %
DANAHER CORP 1.1 %
MICROSOFT CORP 1.0 %
CLOROX COMPANY 1.0 %
DOLLAR GENERAL CORP 0.9 %
CUMMINS INC 0.8 %
EATON CORP PLC 0.8 %
PACCAR INC 0.8 %
IHS MARKIT LTD. 0.8 %
APPLE INC 0.8 %
Total 9.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.3 %
IRELAND 2.0 %
BRITAIN 1.7 %
SWITZERLAND 0.4 %
BERMUDA 0.4 %
NETHERLANDS 0.4 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.2% -3.9% -- -- 0.5%

Market Correlations
versus... Beta R-squared
S&P500 1.06 93%
MSCI EAFE 1.13 86%
MSCI Emg. Mkts. 0.82 72%

Technical Indicators
Recent close $49.42
30d moving avg. $49.20
Annualized volatility 19.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.1%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $157,739

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™: 7.5%


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
(%)
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.5 30 -10 6.5 -0.9
AFLG First Trust Active Factor Large Cap ETF 38.5 55 -35 5.3 -2.2
VLUE iShares MSCI USA Value Factor ETF 37.5 15 5 11.4 +4.0
SCIU Global X Scientific Beta US ETF 36.6 19 1 0.0 -7.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 36.0 17 3 6.7 -0.7
FEX First Trust Large Cap Core AlphaDEX Fund 34.5 60 -40 5.8 -1.7
ROUS Hartford Multifactor US Equity ETF 34.2 19 1 6.4 -1.1
LRGF iShares Edge MSCI Multifactor USA ETF 33.8 20 0 7.1 -0.4
ONEO SPDR Russell 1000 Momentum Focus ETF 33.8 20 0 6.3 -1.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 33.5 17 3 6.3 -1.2
SIZE iShares MSCI USA Size Factor ETF 32.5 15 5 6.0 -1.5
RBUS Nationwide Risk-Based U.S. Equity ETF 32.2 30 -10 4.6 -2.9
EUSA iShares MSCI USA Equal Weighted ETF 32.1 15 5 6.0 -1.4
RNLC Large Cap US Equity Select ETF 32.1 60 -40 6.0 -1.4
RSP Invesco S&P 500 Equal Weight ETF 31.8 20 0 6.4 -1.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 31.8 9 11 5.9 -1.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 31.6 9 11 5.4 -2.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 31.0 18 2 6.1 -1.4
MTUM iShares MSCI USA Momentum Factor ETF 30.2 15 5 4.1 -3.4
CFA VictoryShares US 500 Volatility Weighted Index ETF 29.8 35 -15 5.6 -1.9
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 29.8 35 -15 5.6 -1.8
FVL First Trust Value Line 100 Exchange-Traded Fund 29.6 70 -50 5.3 -2.2
USMF WisdomTree U.S. Multifactor Fund 29.3 28 -8 5.8 -1.7
JHML John Hancock Multifactor Large Cap ETF 29.1 29 -9 5.4 -2.1
RWL Invesco S&P 500 Revenue ETF 29.0 39 -19 7.1 -0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 29.0 29 -9 5.9 -1.6
VUSE Vident Core US Equity Fund 28.2 48 -28 8.8 +1.4
VO Vanguard Mid-Cap Index Fund 28.1 4 16 5.1 -2.4
EXT WisdomTree U.S. Total Earnings Fund 27.9 28 -8 5.4 -2.0
BKMC BNY Mellon US Mid Cap Core Equity ETF 27.8 4 16 5.2 -2.3
FTA First Trust Large Cap Value AlphaDEX Fund 27.6 60 -40 9.0 +1.5
JVAL JPMorgan U.S. Value Factor ETF 27.6 12 8 8.3 +0.8
PRF Invesco FTSE RAFI US 1000 ETF 27.6 39 -19 6.7 -0.8
MXDU Nationwide Maximum Diversification US Core Equity ETF 27.6 34 -14 4.6 -2.9
TPLC Timothy Plan US Large Cap Core ETF 27.4 52 -32 5.2 -2.3
JMOM JPMorgan U.S. Momentum Factor ETF 27.2 12 8 3.3 -4.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 27.1 35 -15 5.3 -2.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 26.7 25 -5 6.6 -0.8
VLU SPDR S&P 1500 Value Tilt ETF 26.7 12 8 7.3 -0.2
IUS Invesco Strategic US ETF 26.4 19 1 6.4 -1.1
SFY SoFi Select 500 ETF 26.4 0 20 5.0 -2.5
FTC First Trust Large Cap Growth AlphaDEX Fund 26.3 61 -41 2.7 -4.8
SPMO Invesco S&P 500 Momentum ETF 26.3 13 7 3.9 -3.5
SPVM Invesco S&P 500 Value with Momentum ETF 26.2 39 -19 8.7 +1.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 26.1 75 -55 3.8 -3.7
FDMO Fidelity Momentum Factor ETF 26.1 29 -9 3.2 -4.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 26.0 29 -9 7.4 -0.1
FLQL Franklin LibertyQ U.S. Equity ETF 25.9 15 5 6.1 -1.4
EPS WisdomTree U.S. Earnings 500 Fund 25.8 8 12 6.3 -1.1
VOE Vanguard Mid-Cap Value Index Fund 25.5 7 13 7.5 +0.1
PBUS Invesco PureBeta MSCI USA ETF 25.4 4 16 5.1 -2.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 25.4 25 -5 6.7 -0.8
DEF Invesco Defensive Equity ETF 25.2 55 -35 5.2 -2.3
ONEV SPDR Russell 1000 Low Volatility Focus ETF 25.0 20 0 6.8 -0.7
SCHX Schwab U.S. Large-Cap ETF 25.0 3 17 5.0 -2.4
ESGV Vanguard ESG U.S. Stock ETF 24.9 12 8 4.9 -2.5
VFMF Vanguard U.S. Multifactor ETF 24.9 19 1 7.2 -0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 24.8 2 18 5.1 -2.4
HSPX Global X S&P 500 Covered Call ETF 24.8 60 -40 4.8 -2.7
VOOV Vanguard S&P 500 Value ETF 24.6 10 10 7.2 -0.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 24.5 7 13 5.1 -2.4
CATH Global X S&P 500 Catholic Values Custom ETF 24.5 29 -9 5.0 -2.4
VV Vanguard Large-Cap Index Fund 24.4 4 16 5.1 -2.4
IYY iShares Dow Jones U.S. ETF 24.4 20 0 4.9 -2.6
QUS SPDR MSCI USA StrategicFactors ETF 24.4 15 5 5.8 -1.7
AVUS Avantis U.S. Equity ETF 24.4 15 5 5.5 -2.0
PBP Invesco S&P 500 BuyWrite ETF 24.4 49 -29 4.8 -2.6
TUSA First Trust Total US Market AlphaDEX ETF 24.4 70 -50 5.6 -1.9
IWB iShares Russell 1000 ETF 24.4 15 5 4.9 -2.5
ESGU iShares MSCI USA ESG Optimized ETF 24.3 15 5 4.9 -2.6
VONV Vanguard Russell 1000 Value Index Fund 24.3 8 12 6.9 -0.5
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 24.3 25 -5 7.5 +0.0
SCHK Schwab 1000 Index ETF 24.2 5 15 5.1 -2.4
XYLG Global X S&P 500 Covered Call & Growth ETF 24.2 60 -40 4.9 -2.6
IWD iShares Russell 1000 Value ETF 24.1 19 1 6.8 -0.7
SPY SPDR S&P 500 ETF Trust 24.1 9 11 5.2 -2.3
IVV iShares Core S&P 500 ETF 24.1 3 17 5.2 -2.2
SPLG SPDR Portfolio Large Cap ETF 24.1 3 17 5.2 -2.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 24.0 20 0 5.2 -2.3
VONE Vanguard Russell 1000 ETF 24.0 8 12 5.0 -2.5
VOO VANGUARD S&P 500 ETF 23.8 3 17 5.3 -2.2
VALQ American Century STOXX U.S. Quality Value ETF 23.7 29 -9 8.9 +1.4
JKI iShares Morningstar Mid-Cap Value ETF 23.7 30 -10 8.8 +1.3
SPXE ProShares S&P 500 Ex-Energy ETF 23.7 27 -7 5.1 -2.3
SPYV SPDR Portfolio S&P 500 Value ETF 23.7 4 16 7.3 -0.2
IVE iShares S&P 500 Value ETF 23.7 18 2 7.1 -0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 23.6 12 8 4.6 -2.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 23.6 24 -4 6.0 -1.5
SPXT ProShares S&P 500 Ex-Technology ETF 23.6 27 -7 5.5 -2.0
VTHR Vanguard Russell 3000 Index Fund 23.6 10 10 4.9 -2.6
SCHB Schwab U.S. Broad Market ETF 23.5 3 17 5.0 -2.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.5 3 17 4.9 -2.6
IWS iShares Russell Mid-Cap Value ETF 23.5 24 -4 6.8 -0.6
ACWF iShares FactorSelect MSCI Global ETF 23.4 35 -15 7.9 +0.4
IWV iShares Russell 3000 ETF 23.4 20 0 4.8 -2.7
RPG Invesco S&P 500 Pure Growth ETF 23.3 35 -15 4.4 -3.1
FCTR First Trust Lunt U.S. Factor Rotation ETF 23.1 65 -45 2.9 -4.6
IUSV iShares Core S&P U.S. Value ETF 23.1 4 16 7.4 -0.1
FUNL CornerCap Fundametrics Large-Cap ETF 23.1 50 -30 8.2 +0.7
FCPI Fidelity Stocks for Inflation ETF 23.1 29 -9 6.3 -1.1

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 13.7 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.51
 
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.