CIL
VictoryShares International Volatility Weighted Index ETF
The VictoryShares International Volatility Wtd ETF tracks an index of developed-market equities outside the US. The index screens for 4 quarters of positive earnings and weights its securities inversely by volatility.
Fund Basics
| Fund sponsor | Victory Capital Management |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 20, 2015 |
| Assets (mns) | $88 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Earnings |
| Weighting | Volatility |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| SOFTBANK CORP. | 0.5 % |
| GREAT-WEST LIFECO INC | 0.4 % |
| SUN LIFE FINANCIAL INC | 0.4 % |
| JAPAN TOBACCO INC | 0.4 % |
| ROYAL KPN NV | 0.4 % |
| OVERSEA-CHINESE BANKING CORP | 0.4 % |
| METRO INC -A | 0.4 % |
| BEIERSDORF AG | 0.4 % |
| DANONE | 0.4 % |
| INTACT FINANCIAL CORP | 0.4 % |
Constituent Breakdown
| Number of holdings | 501 |
| Herfindahl-Hirschman Index | 710 |
| Wgt avg mkt cap (mns) | $37,085 |
| Large cap (>$10bn) | 90.1% |
| Mid cap ($2-10bn) | 9.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 96.9% |
| Emerging mkts. | 3.1% |
Country Exposure
 |
JAPAN | 20.3 % |
 |
CANADA | 12.7 % |
 |
BRITAIN | 10.3 % |
 |
FRANCE | 8.5 % |
 |
SWITZERLAND | 7.0 % |
 |
GERMANY | 6.3 % |
 |
AUSTRALIA | 5.8 % |
 |
SWEDEN | 3.8 % |
 |
NETHERLANDS | 3.7 % |
 |
SOUTH KOREA | 3.4 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 11.0% | 9.0% | -1.5% | 2.8% | 4.6% | -- | 4.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.84 | 75% |
| MSCI EAFE | 0.98 | 95% |
| MSCI Emg Mkts | 0.75 | 61% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $26,579 |
Technical Indicators
| Recent close | $40.11 |
| 30d moving avg. | $37.39 |
| Annualized volatility | 17.0% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
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. CIL |
Expenses vs. CIL |
ALTAR Score™ vs. CIL |
|---|---|---|---|---|
| TPIF | Timothy Plan International ETF | 73.5% | +17 bp | 0.0% |
| GSIE | Goldman Sachs ActiveBeta International Equity ETF | 54.8% | -20 bp | +0.7% |
| BKIE | BNY Mellon International Equity ETF | 54.6% | -41 bp | +0.1% |
| HFXI | IQ 50 Percent Hedged FTSE International ETF | 51.5% | -25 bp | +0.1% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 51.1% | -9 bp | -0.2% |
| ISZE | iShares Edge MSCI Intl Size Factor ETF | 50.6% | -15 bp | 0.0% |
| SCHF | Schwab International Equity ETF | 50.5% | -39 bp | +0.2% |
| EFA | iShares MSCI EAFE ETF | 50.5% | -13 bp | -0.3% |
| PXF | Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 50.1% | 0 bp | +1.1% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 49.4% | -41 bp | 0.0% |
Risk and Returns: CIL 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 12/1/2023
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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
CIL
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™
CIL
6.4%
Cat. Avg
6.9%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.4% |
Recommendation
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.
Category Overview
There are 261 funds in the International Equities category, with an average ALTAR Score™
of 6.9% and a standard deviation of
2.5%. CIL's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places CIL in the 44th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CIL
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) |
|
|---|---|---|---|
| CIL | 45.0 | 30.7 | 75.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .