ULVM
VictoryShares USAA MSCI USA Value Momentum ETF
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
| Fund sponsor | USAA Asset Management |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 24, 2017 |
| Assets (mns) | $158 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Volatility |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| WAL-MART STORES INC | 1.5 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.4 % |
| KRAFT HEINZ COMPANY | 1.3 % |
| AMERISOURCEBERGEN CORP | 1.3 % |
| REPUBLIC SERVICES INC | 1.2 % |
| MONDELEZ INTERNATIONAL INC-A | 1.2 % |
| TJX COMPANIES INC | 1.2 % |
| CONSOLIDATED EDISON INC | 1.2 % |
| PPL CORPORATION | 1.2 % |
| EXELON CORP | 1.1 % |
Constituent Breakdown
| Number of holdings | 125 |
| Herfindahl-Hirschman Index | 84 |
| Wgt avg mkt cap (mns) | $94,602 |
| Large cap (>$10bn) | 98.2% |
| Mid cap ($2-10bn) | 1.1% |
| Small cap (<$2bn) | 0.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.0 % |
 |
BERMUDA | 1.7 % |
 |
BRITAIN | 0.8 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 1.9% | 4.7% | -1.1% | 10.9% | 5.4% | -- | 6.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 86% |
| MSCI EAFE | 0.83 | 78% |
| MSCI Emg Mkts | 0.57 | 35% |
Liquidity Measures
| Avg. volume (000) | 15 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.13% |
| ADV of underlying (mns) | $54,406 |
Technical Indicators
| Recent close | $62.14 |
| 30d moving avg. | $63.55 |
| Annualized volatility | 17.2% |
| Relative strength (RSI) | 36 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 3.3% |
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. ULVM |
Expenses vs. ULVM |
ALTAR Score™ vs. ULVM |
|---|---|---|---|---|
| FTA | First Trust Large Cap Value AlphaDEX Fund | 37.6% | +39 bp | +1.1% |
| SPVM | Invesco S&P 500 Value with Momentum ETF | 35.8% | +19 bp | +0.4% |
| FEX | First Trust Large Cap Core AlphaDEX Fund | 31.2% | +39 bp | -2.1% |
| DFLV | Dimensional US Large Cap Value ETF | 30.6% | +2 bp | -0.1% |
| AFLG | First Trust Active Factor Large Cap ETF | 30.5% | +35 bp | -1.9% |
| SPMO | Invesco S&P 500 Momentum ETF | 30.4% | -7 bp | -2.4% |
| VLUE | iShares MSCI USA Value Factor ETF | 30.3% | -5 bp | +2.8% |
| VOE | Vanguard Mid-Cap Value Index Fund | 29.8% | -13 bp | -0.8% |
| CLRG | IQ Chaikin U.S. Large Cap ETF | 29.3% | +5 bp | -2.1% |
| QLC | FlexShares US Quality Large Cap Index Fund | 28.8% | +5 bp | -2.6% |
Risk and Returns: ULVM 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
ULVM
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™
ULVM
9.1%
Cat. Avg
6.4%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.1% |
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%. ULVM's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places ULVM in the 81st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ULVM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
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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) |
|
|---|---|---|---|
| ULVM | 20.0 | 12.7 | 32.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .