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) | $225 |
| 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
| HERSHEY CO/THE | 1.3 % |
| MERCK & CO. INC. | 1.3 % |
| SOUTHERN CO | 1.2 % |
| CONSOLIDATED EDISON INC | 1.2 % |
| GENERAL MILLS INC | 1.1 % |
| REALTY INCOME CORP | 1.1 % |
| KELLOGG CO | 1.1 % |
| BRISTOL-MYERS SQUIBB CO | 1.1 % |
| WP CAREY INC | 1.1 % |
| DTE ENERGY COMPANY | 1.1 % |
Constituent Breakdown
| Number of holdings | 124 |
| Herfindahl-Hirschman Index | 84 |
| Wgt avg mkt cap (mns) | $76,370 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.2 % |
 |
SWITZERLAND | 1.0 % |
 |
BERMUDA | 1.0 % |
 |
BRITAIN | 0.8 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 0.4% | -3.8% | 6.0% | 11.7% | 6.0% | -- | 6.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.98 | 89% |
| MSCI EAFE | 0.96 | 81% |
| MSCI Emg Mkts | 0.72 | 53% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.12% |
| ADV of underlying (mns) | $28,414 |
Technical Indicators
| Recent close | $61.55 |
| 30d moving avg. | $63.65 |
| Annualized volatility | 21.8% |
| 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 |
|---|---|---|---|---|
| SPVM | Invesco S&P 500 Value with Momentum ETF | 37.6% | +19 bp | +1.2% |
| AFLG | First Trust Active Factor Large Cap ETF | 36.8% | +35 bp | -0.8% |
| XRLV | Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF | 35.4% | +5 bp | -1.7% |
| SPLV | Invesco S&P 500 Low Volatility ETF | 35.4% | +5 bp | -1.7% |
| MTUM | iShares MSCI USA Momentum Factor ETF | 33.6% | -5 bp | -0.9% |
| FDMO | Fidelity Momentum Factor ETF | 32.9% | +9 bp | -2.2% |
| FEX | First Trust Large Cap Core AlphaDEX Fund | 32.8% | +39 bp | -0.7% |
| FLQL | Franklin LibertyQ U.S. Equity ETF | 31.6% | -5 bp | -0.7% |
| HUSV | First Trust Horizon Managed Volatility Domestic ETF | 31.6% | +50 bp | -2.3% |
| FTA | First Trust Large Cap Value AlphaDEX Fund | 31.5% | +39 bp | +1.2% |
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 3/21/2023
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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
8.1%
Cat. Avg
6.5%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 8.1% |
Recommendation
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.
Category Overview
There are 889 funds in the US Equities category, with an average ALTAR Score™
of 6.5% and a standard deviation of
3.3%. ULVM's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places ULVM in the 69th 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 | |
| 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) |
|
|---|---|---|---|
| ULVM | 20.0 | 11.5 | 31.5 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .