VFMO

Vanguard U.S. Momentum Factor ETF

The Fund seeks to provide long-term capital appreciation by investing in stocks with strong recent performance as determined by the advisor.


US

EQUITY

Active

MANAGEMENT STYLE

13 bp

EXPENSES

$609.6 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorVanguard
CategoryUS
Asset classEquity
Websitelink...
Inception dateFeb 13, 2018
Assets (mns)$610
Expense ratio13 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyDelayed
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
BROADCOM INC. 1.7 %
META PLATFORMS INC 1.7 %
ELI LILLY & CO 1.4 %
ARISTA NETWORKS, INC. 1.4 %
NETFLIX INC 1.3 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 1.2 %
GENERAL ELECTRIC COMPANY 1.2 %
UBER TECHNOLOGIES, INC. 1.1 %
MICRON TECHNOLOGY INC 1.1 %
ADVANCED MICRO DEVICES 1.1 %
Constituent Breakdown
Number of holdings594
Herfindahl-Hirschman Index 45
Wgt avg mkt cap (mns)$157,486
Large cap (>$10bn)60.0%
Mid cap ($2-10bn)23.0%
Small cap (<$2bn)16.9%
Developed mkts.99.9%
Emerging mkts.0.1%
Country Exposure
UNITED STATES 87.6 %
IRELAND 1.7 %
BERMUDA 1.1 %
BRITAIN 0.8 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 14.8% 25.0% 20.1% 5.9% 13.9% -- 12.3%
Volatility 17.9% 17.3% 19.0% 20.4% 24.5% -- --
Market Correlations
versus...BetaR-squared
S&P 5001.0380%
MSCI EAFE0.9462%
MSCI Emg Mkts0.6329%
Liquidity Measures
Avg. volume (000)26
Turnover0.7%
Avg. Bid/Ask (% of price)0.21%
ADV of underlying (mns)$268,829
Technical Indicators
Recent close$155.11
30d moving avg.$149.00
Annualized volatility20.7%
Relative strength (RSI)55
Short interest (ETF)0.1%
Short interest (underlying)7.3%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: VFMO 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
  2019 2020 2021 2022 2023 2024E 2025E  
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
  2023 2024E Fwd Est 2025E
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 --%
1.9 25.7 3.8 0.8% --
Based on closing prices from 7/12/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
VFMO



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™

VFMO

2.3%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™2.3%
Recommendation

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.

Category Overview
There are 899 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.5%. VFMO's ALTAR Score™ is approximately 1.4 standard deviations below the category average. This places VFMO in the 9th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
VFMO
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Active
US Equity ETFs
# of ETFs 308
Avg. Expense Ratio 67.1 bp
Std. Deviation 37 bp
VFMO (13 bp) Percentile rank 7
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
VFMO 13.0 21.2 34.2
Peer Avg. 47.5 20.2 67.7
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .