VFMV
Vanguard U.S. Minimum Volatility ETF
The Fund seeks to provide long-term capital appreciation with lower volatility relative to the broad U.S. equity market.
Fund Basics
| Fund sponsor | Vanguard |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 13, 2018 |
| Assets (mns) | $91 |
| Expense ratio | 13 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| HURON CONSULTING GROUP INC | 1.6 % |
| INTL BUSINESS MACHINES CORP | 1.6 % |
| MCKESSON CORP | 1.6 % |
| ROPER TECHNOLOGIES, INC. | 1.6 % |
| TJX COMPANIES INC | 1.6 % |
| COMMVAULT SYSTEMS INC | 1.5 % |
| O'REILLY AUTOMOTIVE INC | 1.5 % |
| NORTHROP GRUMMAN CORP | 1.5 % |
| T-MOBILE US, INC. | 1.5 % |
| JOHNSON & JOHNSON | 1.5 % |
Constituent Breakdown
| Number of holdings | 189 |
| Herfindahl-Hirschman Index | 94 |
| Wgt avg mkt cap (mns) | $158,759 |
| Large cap (>$10bn) | 60.4% |
| Mid cap ($2-10bn) | 20.1% |
| Small cap (<$2bn) | 18.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.9 % |
 |
BERMUDA | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 2.8% | 5.4% | 0.7% | 7.6% | 5.5% | -- | 7.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.70 | 85% |
| MSCI EAFE | 0.62 | 70% |
| MSCI Emg Mkts | 0.39 | 26% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.16% |
| ADV of underlying (mns) | $52,651 |
Technical Indicators
| Recent close | $96.78 |
| 30d moving avg. | $99.02 |
| Annualized volatility | 13.7% |
| Relative strength (RSI) | 38 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 1.5% |
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. VFMV |
Expenses vs. VFMV |
ALTAR Score™ vs. VFMV |
|---|---|---|---|---|
| USMV | iShares Edge MSCI Min Vol USA ETF | 39.3% | +2 bp | 0.0% |
| FDLO | Fidelity Low Volatility Factor ETF | 34.4% | +16 bp | -0.7% |
| QLV | FlexShares US Quality Low Volatility Index Fund | 31.2% | +9 bp | -0.5% |
| SPLV | Invesco S&P 500 Low Volatility ETF | 30.1% | +12 bp | -0.1% |
| QUS | SPDR MSCI USA StrategicFactors ETF | 30.0% | +2 bp | +0.2% |
| ESMV | iShares ESG MSCI USA Min Vol Factor ETF | 29.9% | +5 bp | -0.2% |
| ROUS | Hartford Multifactor US Equity ETF | 29.8% | +6 bp | +1.8% |
| FLLV | Franklin Liberty U.S. Low Volatility ETF | 29.6% | +16 bp | -0.2% |
| JQUA | JPMorgan U.S. Quality Factor ETF | 29.4% | -1 bp | -0.1% |
| XRLV | Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF | 29.3% | +12 bp | +0.1% |
Risk and Returns: VFMV 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 9/28/2023
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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
VFMV
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™
VFMV
6.4%
Cat. Avg
6.4%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 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 898 funds in the US Equities category, with an average ALTAR Score™
of 6.4% and a standard deviation of
3.1%. VFMV's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places VFMV in the 50th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VFMV
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) |
|
|---|---|---|---|
| VFMV | 13.0 | 16.2 | 29.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .