VictoryShares USAA MSCI USA Small Cap Value Momentum ETF
ALTAR
Score™
4.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.3x P/Sales
ratio
1.1x
P/BV
ratio
1.8x Div.
yield
1.2%


  • 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 USA Small Cap Select Value Momentum Blend Index.

FUND BASICS
Category US Equities
Fund Sponsor USAA Asset Management
Website www.usaa.com
Inception date Oct 24, 2017
Assets (mns) $311
Currency USD
Expense ratio 24 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 482
Wgt avg mkt cap (mns) $3,378
Large cap (>$10bn) 3.7%
Mid cap ($2-10bn) 56.8%
Small cap (<$2bn) 38.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ST JOE CO/THE 0.6 %
BUILDERS FIRSTSOURCE INC 0.6 %
EXP WORLD HOLDINGS, INC. 0.6 %
PLUG POWER INC 0.5 %
NRG YIELD, INC. CLASS C 0.5 %
NUANCE COMMUNICATIONS INC 0.5 %
PROVIDENCE SERVICE CORP 0.5 %
UNITED THERAPEUTICS CORP 0.5 %
BIO-TECHNE CORPORATION 0.4 %
DARLING INTERNATIONAL INC 0.4 %
Total 5.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.5 %
BERMUDA 1.4 %
PUERTO RICO 0.6 %
SWITZERLAND 0.5 %
BRITAIN 0.4 %
CAYMAN ISLANDS 0.3 %
IRELAND 0.2 %
CANADA 0.2 %



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.
11.6% 11.6% -- -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 1.21 86%
MSCI EAFE 1.16 78%
MSCI Emg. Mkts. 0.97 69%

Technical Indicators
Recent close $65.40
30d moving avg. $61.45
Annualized volatility 24.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.2%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $19,933

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the VictoryShares USAA MSCI USA Small Cap Value Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with USVM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: USVM Expense: 24 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH USVM
Ticker Fund
Name
Overlap1
vs USVM
(%)
Expense
ratio
(bp)
Savings
vs USVM
(bp)
ALTAR
Score™
(%)
ALTAR
vs USVM
(%)
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 39.4 30 -6 6.0 +1.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 35.0 29 -5 4.2 -0.7
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 34.9 39 -15 3.9 -1.0
VTWO Vanguard Russell 2000 Index Fund 34.5 10 14 2.6 -2.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 33.8 20 4 3.8 -1.1
AFSM First Trust Active Factor Small Cap ETF 33.4 77 -53 4.3 -0.6
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 32.2 17 7 4.0 -0.9
FSMD Fidelity Small-Mid Factor ETF 32.1 29 -5 5.2 +0.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 32.1 6 18 4.0 -0.9
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 30.0 9 15 3.3 -1.6
SCHA Schwab U.S. Small-Cap ETF 29.7 4 20 3.6 -1.3
IWM iShares Russell 2000 ETF 29.2 19 5 2.5 -2.4
FYX First Trust Small Cap Core AlphaDEX Fund 29.1 63 -39 5.4 +0.5
STSB iShares Factors US Small Blend Style ETF 28.6 35 -11 2.9 -2.0
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 27.2 40 -16 5.1 +0.2
BKSE BNY Mellon US Small Cap Core Equity ETF 26.5 4 20 4.7 -0.2
SLY SPDR S&P 600 Small Cap ETF 26.4 15 9 5.5 +0.6
SPSM SPDR Portfolio Small Cap ETF 26.4 5 19 5.6 +0.7
IJR iShares Core S&P Small Cap ETF 26.2 6 18 5.6 +0.7
VIOO Vanguard S&P Small-Cap 600 ETF 26.1 10 14 5.5 +0.6
CSML IQ Chaikin U.S. Small Cap ETF 25.9 35 -11 2.8 -2.1
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 25.4 35 -11 6.0 +1.1
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 25.4 35 -11 6.0 +1.1
VTWG Vanguard Russell 2000 Growth Index Fund 25.1 15 9 0.1 -4.8
XJR iShares ESG Screened S&P Small-Cap ETF 25.1 12 12 5.7 +0.8
IWO iShares Russell 2000 Growth ETF 25.0 24 0 -0.1 -5.0
AVUV Avantis U.S. Small Cap Value ETF 25.0 25 -1 6.3 +1.4
TPSC Timothy Plan US Small Cap Core ETF 24.9 52 -28 5.7 +0.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 24.7 39 -15 3.4 -1.5
NUSC Nuveen ESG Small-Cap ETF 24.6 40 -16 3.9 -1.0
SSLY Syntax Stratified SmallCap ETF 24.2 30 -6 4.9 -0.0
VB Vanguard Small-Cap ETF 24.1 5 19 4.4 -0.5
IWN iShares Russell 2000 Value ETF 23.8 24 0 5.0 +0.1
IUSS Invesco Strategic US Small Company ETF 23.7 23 1 3.6 -1.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 23.5 25 -1 4.8 -0.1
EZM WisdomTree U.S. MidCap Earnings Fund 23.4 38 -14 7.6 +2.7
VFVA Vanguard U.S. Value Factor ETF 23.2 14 10 8.5 +3.6
FNX First Trust Mid Cap Core AlphaDEX Fund 23.1 61 -37 5.1 +0.2
VBR Vanguard Small Cap Value Index Fund 23.0 7 17 6.4 +1.5
VFMO Vanguard U.S. Momentum Factor ETF 22.9 13 11 1.4 -3.5
VTWV Vanguard Russell 2000 Value Index Fund 22.6 15 9 5.1 +0.2
VFMF Vanguard U.S. Multifactor ETF 22.5 19 5 6.1 +1.2
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 22.4 29 -5 -0.3 -5.2
AFMC First Trust Active Factor Mid Cap ETF 22.4 65 -41 5.2 +0.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 21.9 39 -15 5.3 +0.4
ROSC Hartford Multifactor Small Cap ETF 21.6 34 -10 6.5 +1.6
SLYG SPDR S&P 600 Small Cap Growth ETF 21.4 15 9 4.4 -0.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 21.4 66 -42 1.8 -3.1
VIOG Vanguard S&P Small-Cap 600 Growth ETF 21.0 16 8 4.3 -0.6
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 20.9 7 17 3.9 -1.0
IJT iShares S&P Small-Cap 600 Growth ETF 20.9 18 6 4.3 -0.6
FYC First Trust Small Cap Growth AlphaDEX Fund 20.6 70 -46 1.7 -3.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 20.4 20 4 3.6 -1.3
JHSC John Hancock Multifactor Small Cap ETF 20.3 42 -18 4.5 -0.4
VBK Vanguard Small-Cap Growth Index Fund 20.2 7 17 1.9 -3.0
EES WisdomTree SmallCap Earnings Fund 20.1 38 -14 7.5 +2.6
EWMC Invesco S&P MidCap 400 Equal Weight ETF 20.0 40 -16 5.6 +0.7
MDY SPDR S&P Midcap 400 ETF Trust 19.8 23 1 5.1 +0.2
IJH iShares Core S&P Mid-Cap ETF 19.8 5 19 5.3 +0.4
SPMD SPDR Portfolio Mid Cap ETF 19.8 5 19 5.3 +0.4
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 19.6 29 -5 4.9 +0.0
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 19.5 35 -11 4.9 0.0
IVOO Vanguard S&P Mid-Cap 400 ETF 19.3 10 14 5.3 +0.4
VIOV Vanguard S&P Small-Cap 600 Value ETF 19.1 15 9 6.9 +2.0
SMDY Syntax Stratified MidCap ETF 19.0 30 -6 5.1 +0.2
VXF Vanguard Extended Market Index Fund 18.9 6 18 2.5 -2.4
SLYV SPDR S&P 600 Small Cap Value ETF 18.2 15 9 6.9 +2.0
IJS iShares S&P Small-cap 600 Value ETF 17.9 18 6 6.8 +1.9
SFYX Sofi Next 500 ETF 17.8 0 24 4.8 -0.1
XJH iShares ESG Screened S&P Mid-Cap ETF 17.8 12 12 5.4 +0.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 17.4 70 -46 1.6 -3.3
PSC Principal U.S. Small Cap Index ETF 17.3 38 -14 4.6 -0.3
BFOR Barron's 400 ETF 17.0 65 -41 5.6 +0.7
XSMO Invesco S&P SmallCap Momentum ETF 16.9 39 -15 3.6 -1.3
VFQY Vanguard U.S. Quality Factor ETF 16.9 13 11 5.3 +0.4
VUSE Vident Core US Equity Fund 16.8 48 -24 7.4 +2.5
SQLV Legg Mason Small-Cap Quality Value 16.8 62 -38 4.1 -0.8
ISMD Inspire Small/Mid Cap Impact ETF 16.8 60 -36 4.3 -0.6
SVAL iShares US Small Cap Value Factor ETF 16.8 20 4 8.3 +3.4
DWAS Invesco DWA SmallCap Momentum ETF 16.3 60 -36 -1.2 -6.1
SCHM Schwab U.S. Mid-Cap ETF 16.0 4 20 5.0 +0.1
JKK iShares Morningstar Small-Cap Growth ETF 15.9 30 -6 0.6 -4.3
IWC iShares Micro-Cap ETF 15.3 60 -36 -3.2 -8.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 15.2 20 4 7.1 +2.2
RWK Invesco S&P MidCap 400 Revenue ETF 15.1 39 -15 6.3 +1.5
MDYG SPDR S&P 400 Mid Cap Growth ETF 14.3 15 9 3.7 -1.2
IJK iShares S&P Mid-Cap 400 Growth ETF 14.3 17 7 3.7 -1.2
FYT First Trust Small Cap Value AlphaDEX Fund 14.2 72 -48 7.9 +3.0
RNMC Mid Cap US Equity Select ETF 14.2 60 -36 6.1 +1.2
RZG Invesco S&P Smallcap 600 Pure Growth ETF 14.1 35 -11 3.7 -1.2
JKL iShares Morningstar Small Cap Value ETF 14.0 30 -6 7.6 +2.7
TUSA First Trust Total US Market AlphaDEX ETF 14.0 70 -46 4.8 -0.1
RNSC Small Cap US Equity Select ETF 13.8 60 -36 6.0 +1.1
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 13.8 15 9 4.2 -0.7
VAMO Cambria Value & Momentum ETF 13.8 63 -39 5.4 +0.5
FAB First Trust Multi Cap Value AlphaDEX Fund 13.7 71 -47 7.5 +2.6
XSVM Invesco S&P SmallCap Value with Momentum ETF 13.6 39 -15 6.8 +1.9
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 13.5 12 12 6.0 +1.1
DON WisdomTree U.S. MidCap Dividend Fund 13.3 38 -14 6.7 +1.8

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 Small Cap Value Momentum ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 8.6 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 24 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 CATEGORY
AVERAGE
1.49
 
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.