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Trending ETFs

VictoryShares US Discovery Enhanced Volatility Wtd ETF

ETF
CSF
Payout Change
Pending
Price as of:
$49.98 -0.14 -0.28%
primary theme
U.S. Small-Cap Blend Equity
CSF (ETF)

VictoryShares US Discovery Enhanced Volatility Wtd ETF

Payout Change
Pending
Price as of:
$49.98 -0.14 -0.28%
primary theme
U.S. Small-Cap Blend Equity
CSF (ETF)

VictoryShares US Discovery Enhanced Volatility Wtd ETF

Payout Change
Pending
Price as of:
$49.98 -0.14 -0.28%
primary theme
U.S. Small-Cap Blend Equity

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$49.98

$60.2 M

0.65%

$0.33

0.51%

Vitals

YTD Return

1.9%

1 yr return

1.4%

3 Yr Avg Return

-3.7%

5 Yr Avg Return

6.8%

Net Assets

$60.2 M

Holdings in Top 10

73.7%

52 WEEK LOW AND HIGH

$50.1
$46.87
$52.84

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$49.98

$60.2 M

0.65%

$0.33

0.51%

CSF - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return -3.7%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.22%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    VictoryShares US Discovery Enhanced Volatility Wtd ETF
  • Fund Family Name
    Victory Portfolios
  • Inception Date
    Aug 01, 2014
  • Shares Outstanding
    1350033
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mannik Dhillon

Fund Description

The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets directly or indirectly in the securities included in the Nasdaq Victory US Small Cap 500 Long/Cash Volatility Weighted Index (the “Index”), an unmanaged, volatility weighted index maintained exclusively by Nasdaq, Inc. (the “Index Provider”). The Index Provider is not affiliated with the Fund or the Adviser.The Index combines fundamental criteria with individual security risk control achieved through volatility weighting of individual securities. In accordance with a rules-based mathematical formula, the Index tactically reduces its exposure to the equity markets during periods of significant market decline and reallocates to stocks when market prices have further declined or rebounded. The term “Enhanced” in the Fund’s name refers to a feature of the Index that is designed to enhance risk-adjusted returns while attempting to minimize downside market risk through defensive positioning, as described below.The Index follows a rules-based methodology to construct its constituent securities:The Index universe begins with all publicly traded U.S. stocks and then gathers the bottom10% by market capitalization as represented by the NASDAQ US Small Cap Index (NNQUSS).The Index then screens for the 500 largest companies by market capitalization with positive earnings over the last 12 months.The 500 stocks are weighted based on their daily standard deviation (volatility) of daily price changes over the last 180 trading days. Stocks with lower volatility receive a higher weighting and stocks with higher volatility receive a lower weighting.The Index is reconstituted every March and September (based on information as of the prior month-end) and is adjusted to limit exposure to any particular sector to 25%. The Index may include more than or fewer than 500 stocks depending on the number of companies meeting the Index’s criteria. As of September 30, 2023, the Index had a market capitalization range from $0.5 billion to $14.5 billion.The Index follows a mathematical index construction process designed to limit risk during periods of significant (non-normal) market decline by reducing its exposure to the equity market by allocating a portion of the Index to cash and cash equivalents. Market decline is measured at month-end by reference to the Nasdaq Victory US Small Cap 500 Volatility Weighted Index (“Reference Index”), which is composed of the same securities as in the Index but without any allocation to cash.A “significant market decline” means a decline of 11% or more from the Reference Index’s all-time daily high closing value compared to its most recent month-end closing value, during which the Index’s exposure to the market may be as low as 25% depending on the magnitude and duration of such decline.During a period of significant market decline that is 11% or more but less than 22% (the “initial trigger point”), the Index will allocate 75% of the stocks included in the Index to cash or cash equivalents, with the remaining 25% consisting of stocks included in the Reference Index.The Index will reallocate all or a portion of its cash or cash equivalents to stocks when the Reference Index reaches certain additional trigger points, measured at a subsequent month end, as follows:The Index will return to being 100% allocated to stocks if the subsequent month end closing value of the stocks in the Reference Index returns to a level that is less than the initial trigger point.If the Reference Index declines by 22% or more but less than 33% from its all-time daily high closing value as measured at a subsequent month end, the Index will reallocate an additional 25% to the stocks in the Reference Index at their current securities weightings and the Index will then be 50% allocated to stocks included in the Reference Index.If the Reference Index declines by 33% or more but less than 44% from its all-time daily high closing value as measured at a subsequent month end, the Index will reallocate another 25% to the stocks of the Reference Index at their current securities weighting and the Index will then be 75% allocated to stocks included in the Reference Index.If the Reference Index declines by 44% or more from its all-time daily high closing value as measured at a subsequent month end, the Index will reallocate the remaining 25% to the stocks in the Reference Index at their current securities weighting. At this point, the Index will be 100% allocated to stocks included in the Reference Index.The Index will make any prescribed allocations to cash in accordance with the mathematical formula only at month end. In the event that it does, the Fund may experience higher portfolio turnover and incur additional transaction costs.During any periods of significant market decline, when the Index’s exposure to the market is less than 100%, the cash portion of the Index will be invested in 30-day U.S. Treasury bills or in money market mutual funds that primarily invest in short-term U.S. Treasury obligations.While the Fund generally seeks to track the returns of the Index before fees and expenses by employing a replication strategy that seeks to hold all the stocks in the Index, at times the Fund may pursue its investment objective by investing in the Index securities indirectly by investing all or a portion of its assets in another investment company advised by the Adviser, including an exchange-traded fund (“ETF”), that seeks to track the Index or the Reference Index.The Fund’s investments are subject to the following principal risks:
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CSF - Performance

Return Ranking - Trailing

Period CSF Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -5.1% 23.8% 67.39%
1 Yr 1.4% -12.5% 56.1% 98.38%
3 Yr -3.7%* -8.5% 41.4% 95.40%
5 Yr 6.8%* -13.7% 32.2% 82.91%
10 Yr N/A* -3.0% 17.2% 50.65%

* Annualized

Return Ranking - Calendar

Period CSF Return Category Return Low Category Return High Rank in Category (%)
2023 -10.1% -49.6% 29.0% 97.49%
2022 -14.8% -59.3% 118.2% 11.89%
2021 27.6% -31.6% 39.3% 4.03%
2020 27.1% -51.0% 39.5% 0.94%
2019 0.5% -16.9% 37.8% 97.06%

Total Return Ranking - Trailing

Period CSF Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -5.1% 23.8% 67.39%
1 Yr 1.4% -12.5% 56.1% 98.38%
3 Yr -3.7%* -8.5% 41.4% 95.40%
5 Yr 6.8%* -13.7% 32.2% 82.91%
10 Yr N/A* -3.0% 17.2% N/A

* Annualized

Total Return Ranking - Calendar

Period CSF Return Category Return Low Category Return High Rank in Category (%)
2023 -7.4% -21.7% 31.8% 98.56%
2022 -13.6% -45.2% 123.7% 20.72%
2021 29.3% 0.0% 47.7% 15.75%
2020 28.6% -50.5% 46.9% 1.32%
2019 2.2% -12.6% 43.7% 98.82%

CSF - Holdings

Concentration Analysis

CSF Category Low Category High CSF % Rank
Net Assets 60.2 M 480 K 118 B 86.49%
Number of Holdings 505 2 2519 23.68%
Net Assets in Top 10 39.9 M 104 K 9.83 B 63.16%
Weighting of Top 10 73.66% -2849.0% 100.5% 1.06%

Top 10 Holdings

  1. FEDERATED HERMES TREASURY OBLIGATIONS 72.76%
  2. UNIVERSAL CORP 0.14%
  3. NELNET INC CL A 0.10%
  4. GRAND CANYON EDUCATION INC 0.10%
  5. GRAHAM HOLDINGS CO 0.10%
  6. BRADY CORP 0.09%
  7. NEWMARKET CORP 0.09%
  8. NORTHWESTERN CORP 0.09%
  9. ALLETE INC 0.09%
  10. BELLRING BRANDS INC 0.09%

Asset Allocation

Weighting Return Low Return High CSF % Rank
Cash
73.22% 0.00% 565934.00% 0.53%
Stocks
26.77% -565235.00% 107.11% 98.42%
Other
0.01% -598.74% 82.28% 33.16%
Preferred Stocks
0.00% 0.00% 7.53% 23.16%
Convertible Bonds
0.00% 0.00% 3.17% 20.04%
Bonds
0.00% -2.00% 74.53% 24.21%

Stock Sector Breakdown

Weighting Return Low Return High CSF % Rank
Financial Services
24.79% 0.00% 35.52% 4.43%
Industrials
21.32% 2.46% 37.42% 20.92%
Consumer Cyclical
12.83% 0.99% 47.79% 22.34%
Technology
9.84% 0.00% 54.70% 89.89%
Healthcare
9.51% 0.00% 26.53% 78.90%
Consumer Defense
7.70% 0.00% 18.87% 6.91%
Basic Materials
4.27% 0.00% 18.66% 59.93%
Communication Services
3.48% 0.00% 14.85% 29.26%
Energy
3.03% 0.00% 37.72% 80.14%
Utilities
2.44% 0.00% 18.58% 52.30%
Real Estate
0.79% 0.00% 29.43% 94.50%

Stock Geographic Breakdown

Weighting Return Low Return High CSF % Rank
US
26.77% -565235.00% 107.11% 98.25%
Non US
0.00% 0.00% 94.14% 33.16%

CSF - Expenses

Operational Fees

CSF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.01% 38.45% 84.66%
Management Fee 0.30% 0.00% 1.50% 14.44%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

CSF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CSF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CSF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 314.00% 100.00%

CSF - Distributions

Dividend Yield Analysis

CSF Category Low Category High CSF % Rank
Dividend Yield 0.65% 0.00% 42.10% 16.67%

Dividend Distribution Analysis

CSF Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Annual Annual

Net Income Ratio Analysis

CSF Category Low Category High CSF % Rank
Net Income Ratio 1.22% -2.40% 2.49% 5.14%

Capital Gain Distribution Analysis

CSF Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

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CSF - Fund Manager Analysis

Managers

Mannik Dhillon


Start Date

Tenure

Tenure Rank

Jun 01, 2018

4.0

4.0%

Mannik S. Dhillon serves as President of VictoryShares and Solutions for Victory Capital. In his role, he leads and oversees the firms' exchange-traded and solutions business. He is also responsible for setting the strategy and initiating the development and implementation of Victory's strategic beta-based offerings. Additionally, he manages the solutions provided by our investment franchises, which includes product enhancements, extensions and innovations designed to best meet the needs of clients. Mr. Dhillon also contributes to the evaluation of capabilities of potential new franchises as part of the firm's acquisition strategy.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 49.61 7.05 2.58