CDL
VictoryShares US Large Cap High Dividend Volatility Wtd Idx ETF
The VictoryShares US Large Cap High Div Volatility Wtd ETF tracks the performance of the Compass EMP US Large Cap High Dividend 100 Volatility Weighted Index by investing in large dividend-paying US common stocks.
Fund Basics
| Fund sponsor | Victory Capital Management |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 07, 2015 |
| Assets (mns) | $351 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Volatility |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| COCA-COLA CO/THE | 1.9 % |
| KELLOGG CO | 1.6 % |
| KRAFT HEINZ COMPANY | 1.5 % |
| KIMBERLY-CLARK CORP | 1.5 % |
| PHILIP MORRIS INTERNATIONAL | 1.4 % |
| ALTRIA GROUP INC | 1.4 % |
| DUKE ENERGY CORP | 1.4 % |
| CONSOLIDATED EDISON INC | 1.4 % |
| CONAGRA FOODS INC | 1.4 % |
| INTL BUSINESS MACHINES CORP | 1.4 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 107 |
| Wgt avg mkt cap (mns) | $68,057 |
| Large cap (>$10bn) | 95.7% |
| Mid cap ($2-10bn) | 3.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.8 % |
 |
IRELAND | 1.1 % |
 |
BRITAIN | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -1.8% | -0.7% | 1.8% | 14.4% | 7.4% | -- | 9.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 67% |
| MSCI EAFE | 0.80 | 73% |
| MSCI Emg Mkts | 0.58 | 36% |
Liquidity Measures
| Avg. volume (000) | 22 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.08% |
| ADV of underlying (mns) | $18,863 |
Technical Indicators
| Recent close | $55.32 |
| 30d moving avg. | $56.45 |
| Annualized volatility | 17.2% |
| Relative strength (RSI) | 36 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 2.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. CDL |
Expenses vs. CDL |
ALTAR Score™ vs. CDL |
|---|---|---|---|---|
| DVY | iShares Select Dividend ETF | 48.4% | +3 bp | +0.8% |
| SPYD | SPDR S&P 500 High Dividend ETF | 45.5% | -28 bp | +2.2% |
| QDIV | Global X S&P 500 Quality Dividend ETF | 40.4% | -15 bp | +0.3% |
| DHS | WisdomTree U.S. High Dividend Fund | 39.6% | +3 bp | +0.6% |
| LVHD | Legg Mason Low Volatility High Dividend ETF | 37.5% | -8 bp | +0.0% |
| RNDV | US Equity Dividend Select ETF | 37.2% | +15 bp | +1.0% |
| SPHD | Invesco S&P 500 High Dividend Low Volatility ETF | 36.9% | -5 bp | +2.2% |
| HDV | iShares Core High Dividend ETF | 36.2% | -27 bp | -0.1% |
| FTA | First Trust Large Cap Value AlphaDEX Fund | 35.6% | +24 bp | +0.8% |
| TPHE | Timothy Plan High Dividend Stock Enhanced ETF | 35.5% | +19 bp | -2.1% |
Risk and Returns: CDL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/22/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
CDL
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
CDL
9.4%
Cat. Avg
6.4%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.4% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 898 funds in the US Equities category, with an average ALTAR Score™
of 6.4% and a standard deviation of
3.1%. CDL's ALTAR Score™ is approximately
1.0 standard deviations
above
the category average. This places CDL in the 83rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CDL
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CDL | 35.0 | 8.4 | 43.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .