VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF
The VictoryShares US Multi-Factor Minimum Volatility ETF tracks an index of US large- and midcap stocks selected and weighted based on multiple factors. Portfolio optimization and constraints are used in order to minimize volatility.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
123.4 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Victory Capital Management |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 21, 2017 |
| Assets (mns) | $123 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 10.6 % |
| APPLE INC | 10.3 % |
| WAL-MART STORES INC | 4.6 % |
| JOHNSON & JOHNSON | 4.1 % |
| CENCORA INC | 3.9 % |
| REPUBLIC SERVICES INC | 3.4 % |
| CARDINAL HEALTH INC | 3.4 % |
| EXXON MOBIL CORP | 3.3 % |
| WASTE MANAGEMENT INC | 3.0 % |
| MCKESSON CORP | 3.0 % |
Constituent Breakdown
| Number of holdings | 70 |
| Herfindahl-Hirschman Index | 432 |
| Wgt avg mkt cap (mns) | $955,024 |
| Large cap (>$10bn) | 97.1% |
| Mid cap ($2-10bn) | 2.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 105.2 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 11.7% | 10.5% | 16.8% | 15.8% | 10.8% | -- | -- | 9.7% |
| Dividend Yield | 0.3% | 0.5% | 1.2% | 1.6% | 1.7% | -- | -- | 1.9% |
| Total Returns | 12.1% | 10.9% | 18.0% | 17.4% | 12.5% | -- | -- | 11.6% | Ann. Volatility | 14.8% | 13.9% | 11.7% | 12.2% | 13.2% | -- | -- | 15.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.72 | 72% |
| MSCI EAFE | 0.44 | 33% |
| MSCI Emg Mkts | 0.21 | 8% |
Liquidity Measures
| Avg. volume (000) | 7 |
| ADV traded (mns) | $0 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.09% |
Technical Indicators
| Recent close | $53.74 |
| 30d moving avg. | $53.36 |
| Annualized volatility | 11.3% |
| Relative strength (RSI) | 63 |
| Short interest | 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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| SELV | SEI Enhanced Low Volatility U.S. Large Cap ETF | 40.6% | -20 bp | +6.7% |
| USMC | Principal U.S. Mega-Cap ETF | 35.9% | -23 bp | +4.3% |
| LVOL | American Century Low Volatility ETF | 35.3% | -6 bp | +5.0% |
| DGRW | WisdomTree US Quality Dividend Growth Fund | 35.3% | -7 bp | +5.5% |
| SNPE | Xtrackers S&P 500 ESG ETF | 35.1% | -25 bp | +4.9% |
| TOPT | iShares Top 20 U.S. Stocks ETF | 34.7% | -15 bp | +3.9% |
| QDEF | FlexShares Quality Dividend Defensive Index Fund | 34.6% | +2 bp | +6.1% |
| VSLU | Applied Finance Valuation Large Cap ETF | 33.0% | +14 bp | +5.5% |
| SPUS | SP Funds S&P 500 Sharia Industry Exclusions ETF | 32.8% | +10 bp | +4.3% |
| QDF | FlexShares Quality Dividend Index Fund | 32.7% | +2 bp | +6.2% |
Risk and Returns: VSMV 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 11/1/2025
Peer Group Comparison Sample data. Subscribe for access.
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
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 Rating
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.
ALTAR Score™
VSMV
6.2%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 997 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. VSMV's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places VSMV in the 59th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VSMVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| VSMV (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VSMV | 35.0 | 9.0 | 44.0 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .