VictoryShares USAA MSCI USA Value Momentum ETF
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
22.2x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
2.2%


  • 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) $473
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 205
Wgt avg mkt cap (mns) $51,782
Large cap (>$10bn) 78.2%
Mid cap ($2-10bn) 21.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
REPUBLIC SERVICES INC 1.2 %
FIDELITY NATIONAL INFORMATIO 1.1 %
EQUITY LIFESTYLE PROPERTIES 1.1 %
DANAHER CORP 1.1 %
EQUINIX INC 1.1 %
ENTERGY CORP 1.1 %
SUN COMMUNITIES INC 1.1 %
NEWMONT MINING CORP 1.0 %
EXELON CORP 1.0 %
WR BERKLEY CORP 1.0 %
Total 10.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.2 %
IRELAND 4.4 %
BERMUDA 2.0 %
BRITAIN 1.4 %
SWITZERLAND 1.3 %






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.
-15.9% -4.4% -- -- -2.4%

Market Correlations
versus... Beta R-squared
S&P500 1.10 94%
MSCI EAFE 1.16 88%
MSCI Emg. Mkts. 0.88 75%

Technical Indicators
Recent close $45.45
30d moving avg. $42.43
Annualized volatility 20.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.1%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $107,012

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 7.7%


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 35.9 60 -40 6.1 -1.5
SCIU Global X Scientific Beta US ETF 35.2 19 1 5.8 -1.9
RNLC Large Cap US Equity Select ETF 33.2 60 -40 6.3 -1.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 32.8 17 3 7.0 -0.7
RSP Invesco S&P 500 Equal Weight ETF 32.4 20 0 6.9 -0.7
ROUS Hartford Multifactor US Equity ETF 32.2 19 1 7.3 -0.4
VLUE iShares Edge MSCI USA Value Factor ETF 32.2 15 5 11.2 +3.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 32.0 17 3 6.6 -1.1
ONEO SPDR Russell 1000 Momentum Focus ETF 31.9 20 0 6.6 -1.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 31.4 19 1 6.3 -1.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 31.1 9 11 6.0 -1.7
EUSA iShares MSCI USA Equal Weighted ETF 30.8 15 5 6.2 -1.5
FTA First Trust Large Cap Value AlphaDEX Fund 30.5 60 -40 9.2 +1.6
SIZE iShares Edge MSCI USA Size Factor ETF 30.4 15 5 6.0 -1.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 30.3 30 -10 6.8 -0.9
VOE Vanguard Mid-Cap Value Index Fund 28.9 7 13 8.0 +0.3
LRGF iShares Edge MSCI Multifactor USA ETF 28.8 20 0 7.0 -0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 28.8 9 11 5.6 -2.0
IWS iShares Russell Mid-Cap Value ETF 28.8 24 -4 7.3 -0.4
AFLG First Trust Active Factor Large Cap ETF 28.7 55 -35 5.6 -2.0
JHML John Hancock Multifactor Large Cap ETF 27.9 34 -14 5.6 -2.0
ONEV SPDR Russell 1000 Low Volatility Focus ETF 27.9 20 0 7.1 -0.6
PVAL Principal Contrarian Value Index ETF 27.8 29 -9 7.5 -0.1
JVAL JPMorgan U.S. Value Factor ETF 27.4 12 8 8.9 +1.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 27.3 35 -15 5.9 -1.8
RWL Invesco S&P 500 Revenue ETF 27.2 39 -19 6.9 -0.8
IUS Invesco Strategic US ETF 27.1 19 1 6.3 -1.4
AUSF Global X Adaptive U.S. Factor ETF 27.1 27 -7 8.1 +0.5
RVRS Reverse Cap Weighted U.S. Large Cap ETF 27.1 29 -9 7.4 -0.3
IWR iShares Russell Midcap ETF 26.7 19 1 5.7 -2.0
SPVM Invesco S&P 500 Value with Momentum ETF 26.6 39 -19 9.5 +1.8
VLU SPDR S&P 1500 Value Tilt ETF 26.4 12 8 7.5 -0.2
VO Vanguard Mid-Cap Index Fund 26.4 4 16 5.5 -2.2
PRF Invesco FTSE RAFI US 1000 ETF 26.4 39 -19 6.9 -0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 26.2 25 -5 6.7 -1.0
IWD iShares Russell 1000 Value ETF 26.2 19 1 7.2 -0.5
VONV Vanguard Russell 1000 Value Index Fund 26.1 8 12 7.3 -0.4
JMOM JPMorgan U.S. Momentum Factor ETF 26.0 12 8 3.9 -3.7
RNDV US Equity Dividend Select ETF 25.9 50 -30 7.9 +0.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 25.8 24 -4 6.1 -1.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 25.8 29 -9 6.2 -1.5
VUSE Vident Core US Equity Fund 25.6 48 -28 7.8 +0.2
TUSA First Trust Total US Market AlphaDEX ETF 25.2 70 -50 6.2 -1.5
REVS Columbia Research Enhanced Value ETF 25.2 19 1 7.6 -0.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 25.2 25 -5 6.6 -1.0
USMV iShares Edge MSCI Min Vol USA ETF 24.9 15 5 5.7 -2.0
FAB First Trust Multi Cap Value AlphaDEX Fund 24.9 71 -51 9.7 +2.0
QUS SPDR MSCI USA StrategicFactors ETF 24.4 15 5 5.9 -1.8
JMIN JPMorgan U.S. Minimum Volatility ETF 24.4 12 8 5.9 -1.8
PBP Invesco S&P 500 BuyWrite ETF 24.2 49 -29 5.1 -2.6
VTV Vanguard Value Index Fund 23.9 4 16 7.4 -0.3
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 23.9 29 -9 6.8 -0.9
VALQ American Century STOXX U.S. Quality Value ETF 23.8 29 -9 9.0 +1.3
JHMM John Hancock Multifactor Mid Cap ETF 23.8 44 -24 5.8 -1.9
HSPX Global X S&P 500 Covered Call ETF 23.7 65 -45 5.0 -2.7
TPLC Timothy Plan US Large Cap Core ETF 23.7 52 -32 5.5 -2.2
RBUS Nationwide Risk-Based U.S. Equity ETF 23.7 30 -10 5.1 -2.6
AVUS Avantis U.S. Equity ETF 23.5 15 5 5.9 -1.8
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 23.4 35 -15 5.9 -1.8
JKI iShares Morningstar Mid-Cap Value ETF 23.4 30 -10 9.7 +2.0
SFY SoFi Select 500 ETF 23.2 0 20 5.4 -2.3
PBUS Invesco PureBeta MSCI USA ETF 23.2 4 16 5.4 -2.3
RECS Columbia Research Enhanced Core ETF 23.0 15 5 5.7 -1.9
CATH Global X S&P 500 Catholic Values Custom ETF 23.0 29 -9 5.4 -2.3
FCPI Fidelity Stocks for Inflation ETF 23.0 29 -9 6.9 -0.8
SCHV Schwab U.S. Large-Cap Value ETF 22.9 4 16 7.2 -0.5
EXT WisdomTree U.S. Total Earnings Fund 22.9 28 -8 5.9 -1.8
VV Vanguard Large-Cap Index Fund 22.9 4 16 5.4 -2.3
BBUS JP Morgan Betabuilders U.S. Equity ETF 22.9 2 18 5.5 -2.2
USMF WisdomTree U.S. Multifactor Fund 22.8 28 -8 6.2 -1.5
EPS WisdomTree U.S. Earnings 500 Fund 22.8 8 12 6.6 -1.1
IVV iShares Core S&P 500 ETF 22.8 4 16 5.6 -2.1
FVAL Fidelity Value Factor ETF 22.8 29 -9 8.2 +0.5
SPLG SPDR Portfolio Large Cap ETF 22.8 3 17 5.6 -2.1
SCHX Schwab U.S. Large-Cap ETF 22.8 3 17 5.5 -2.2
SPY SPDR S&P 500 ETF Trust 22.8 9 11 5.5 -2.2
VOO VANGUARD S&P 500 ETF 22.7 3 17 5.6 -2.1
SPYV SPDR Portfolio S&P 500 Value ETF 22.7 4 16 7.4 -0.3
IVE iShares S&P 500 Value ETF 22.7 18 2 7.3 -0.4
SPXT ProShares S&P 500 Ex-Technology ETF 22.6 27 -7 5.7 -2.0
FTC First Trust Large Cap Growth AlphaDEX Fund 22.6 61 -41 3.0 -4.7
VOOV Vanguard S&P 500 Value ETF 22.6 15 5 7.3 -0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 22.5 20 0 5.6 -2.1
RPG Invesco S&P 500 Pure Growth ETF 22.5 35 -15 4.5 -3.2
ESGU iShares MSCI USA ESG Optimized ETF 22.4 15 5 5.2 -2.5
SPXE ProShares S&P 500 Ex-Energy ETF 22.4 27 -7 5.5 -2.2
IWB iShares Russell 1000 ETF 22.3 15 5 5.3 -2.3
IUSV iShares Core S&P U.S. Value ETF 22.3 4 16 7.5 -0.2
DIVB iShares U.S. Dividend & Buyback ETF 22.2 25 -5 6.6 -1.1
SCHK Schwab 1000 Index ETF 22.2 5 15 5.4 -2.2
VONE Vanguard Russell 1000 ETF 22.2 8 12 5.4 -2.3
IYY iShares Dow Jones U.S. ETF 22.1 20 0 5.3 -2.4
MXDU Nationwide Maximum Diversification US Core Equity ETF 21.9 34 -14 5.2 -2.4
SPTM SPDR Portfolio Total Stock Market ETF 21.9 3 17 5.7 -2.0
RAFE PIMCO RAFI ESG U.S. ETF 21.8 29 -9 7.8 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 21.8 27 -7 5.2 -2.5
SPVU Invesco S&P 500 Enhanced Value ETF 21.7 13 7 11.1 +3.4
USDY Pacific Global US Equity Income ETF 21.6 29 -9 8.0 +0.3
VTI Vanguard Total Stock Market Index Fund 21.5 3 17 5.3 -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 12.4 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.53
 
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.