ULVM vs. ACWV ETF Comparison

Comparison of VictoryShares USAA MSCI USA Value Momentum ETF (ULVM) to iShares MSCI All Country World Minimum Volatility Index Fund (ACWV)

ULVM

VictoryShares USAA MSCI USA Value Momentum ETF

ULVM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the MSCI USA Select Value Momentum Blend Index. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is designed to deliver exposure to equity securities of large- and mid-capitalization U.S. issuers within the MSCI USA Index (the parent index) that have higher exposure to value and momentum factors, while also maintaining moderate index turnover and lower realized volatility than traditional capitalization-weighted indexes.

Grade (RS Rating)

Last Trade

$86.63

Average Daily Volume

2,586

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$113.95

Average Daily Volume

117,990

Number of Holdings ^*

139

* may have additional holdings in another (foreign) market

Performance

Period	ULVM	ACWV
30 Days	6.04%	0.32%
60 Days	7.87%	-0.25%
90 Days	10.00%	1.23%
12 Months	37.10%	18.77%

27 Overlapping Holdings

Symbol	Grade	Weight in ULVM	Weight in ACWV	Overlap
APH	A	0.82%	0.54%	0.54%
BRK.A	B	1.39%	0.91%	0.91%
CI	F	0.88%	0.24%	0.24%
CTSH	B	0.97%	0.21%	0.21%
DGX	A	0.92%	0.15%	0.15%
DUK	C	1.16%	0.81%	0.81%
ELV	F	0.71%	0.42%	0.42%
FANG	D	0.7%	0.06%	0.06%
FCNCA	A	0.69%	0.23%	0.23%
FI	A	1.36%	0.48%	0.48%
GD	F	1.17%	0.18%	0.18%
GDDY	A	0.98%	0.64%	0.64%
IBM	C	0.84%	0.73%	0.73%
KHC	F	0.83%	0.33%	0.33%
KR	B	1.0%	0.83%	0.83%
L	A	1.28%	0.4%	0.4%
LLY	F	0.51%	0.52%	0.51%
LMT	D	1.21%	0.23%	0.23%
MCK	B	0.95%	1.42%	0.95%
MPC	D	0.58%	0.15%	0.15%
REGN	F	0.72%	0.61%	0.61%
T	A	1.07%	0.26%	0.26%
TRGP	B	1.22%	0.08%	0.08%
TSN	B	0.89%	0.32%	0.32%
UTHR	C	0.68%	0.4%	0.4%
VZ	C	0.88%	0.76%	0.76%
WMT	A	1.18%	1.82%	1.18%

ULVM Overweight 98 Positions Relative to ACWV

Symbol	Grade	Weight
KMI	A	1.42%
ETR	B	1.25%
BK	A	1.23%
WELL	A	1.2%
BSX	B	1.18%
PEG	A	1.18%
PKG	A	1.13%
LDOS	C	1.11%
JPM	A	1.05%
WAB	B	1.05%
FOXA	B	1.04%
SSNC	B	1.03%
RTX	C	1.03%
AVB	B	0.99%
HIG	B	0.99%
GS	A	0.98%
APP	B	0.95%
COST	B	0.95%
WFC	A	0.94%
BAC	A	0.93%
EQH	B	0.93%
AIG	B	0.93%
COF	B	0.93%
DAL	C	0.91%
AXP	A	0.91%
MLM	B	0.9%
NWSA	B	0.9%
UAL	A	0.89%
VICI	C	0.89%
ESS	B	0.88%
RGA	A	0.87%
LYB	F	0.86%
SPG	B	0.86%
GRMN	B	0.85%
EXC	C	0.85%
WY	D	0.84%
KIM	A	0.84%
C	A	0.83%
SYF	B	0.83%
DOW	F	0.82%
IR	B	0.81%
EME	C	0.79%
FITB	A	0.78%
STLD	B	0.78%
TXT	D	0.78%
CBRE	B	0.77%
CSL	C	0.77%
IRM	D	0.77%
NVR	D	0.77%
GM	B	0.76%
TFC	A	0.74%
GOOGL	C	0.74%
IP	B	0.73%
KKR	A	0.72%
OC	A	0.72%
VTRS	A	0.71%
CASY	A	0.71%
PSX	C	0.7%
HCA	F	0.7%
DD	D	0.68%
PFE	D	0.68%
GE	D	0.67%
CFG	B	0.67%
CRBG	B	0.67%
HWM	A	0.64%
KEY	B	0.63%
VLO	C	0.62%
VST	B	0.61%
HPQ	B	0.6%
FDX	B	0.6%
HPE	B	0.59%
PHM	D	0.59%
ARE	D	0.58%
MSTR	C	0.58%
NTAP	C	0.57%
URI	B	0.57%
CVS	D	0.56%
THC	D	0.56%
LEN	D	0.55%
TOL	B	0.54%
CNC	D	0.54%
META	D	0.53%
ALLY	C	0.49%
VRT	B	0.49%
F	C	0.48%
DHI	D	0.47%
WDC	D	0.46%
ADM	D	0.44%
AVGO	D	0.43%
NVDA	C	0.42%
BLDR	D	0.42%
MU	D	0.41%
INTC	D	0.41%
SWKS	F	0.39%
WSM	B	0.39%
CVNA	B	0.38%
DELL	C	0.34%
MRNA	F	0.16%

ULVM Underweight 112 Positions Relative to ACWV

Symbol	Grade	Weight
TMUS	B	-2.03%
MSI	B	-1.88%
CSCO	B	-1.57%
WM	A	-1.5%
ROP	B	-1.36%
RSG	A	-1.19%
VRTX	F	-1.13%
PEP	F	-1.08%
MRK	F	-1.06%
JNJ	D	-1.05%
COR	B	-1.05%
MCD	D	-1.02%
CB	C	-0.88%
MMC	B	-0.88%
PGR	A	-0.84%
ED	D	-0.84%
UNH	C	-0.83%
PG	A	-0.82%
SO	D	-0.8%
NOC	D	-0.77%
AZO	C	-0.77%
MSFT	F	-0.76%
WEC	A	-0.68%
EA	A	-0.63%
ORLY	B	-0.62%
GIS	D	-0.61%
V	A	-0.59%
K	A	-0.57%
ACGL	D	-0.57%
CBOE	B	-0.54%
ORCL	B	-0.54%
ABBV	D	-0.49%
GILD	C	-0.48%
CHD	B	-0.46%
HSY	F	-0.44%
MKL	A	-0.43%
WRB	A	-0.41%
KEYS	A	-0.41%
WCN	A	-0.39%
INCY	C	-0.38%
CHT	D	-0.37%
TJX	A	-0.37%
BAH	F	-0.37%
KDP	D	-0.36%
FFIV	B	-0.36%
CL	D	-0.35%
VRSN	F	-0.35%
AON	A	-0.35%
AMGN	D	-0.34%
AJG	B	-0.33%
TRV	B	-0.32%
JNPR	F	-0.32%
NBIX	C	-0.31%
HUM	C	-0.31%
BRO	B	-0.3%
GEN	B	-0.3%
KMB	D	-0.3%
AKAM	D	-0.27%
SJM	D	-0.27%
ACN	C	-0.26%
ERIE	D	-0.26%
MDLZ	F	-0.25%
BMY	B	-0.25%
CF	B	-0.25%
YUM	B	-0.24%
CME	A	-0.23%
HRL	D	-0.23%
FWONK	B	-0.22%
PTC	A	-0.22%
BDX	F	-0.22%
CPB	D	-0.22%
ROL	B	-0.21%
MFG	B	-0.21%
JKHY	D	-0.2%
MA	C	-0.19%
BMRN	D	-0.19%
DPZ	C	-0.19%
CAH	B	-0.18%
LNG	B	-0.16%
ULTA	F	-0.16%
CMS	C	-0.16%
AIZ	A	-0.13%
WIT	A	-0.12%
CTVA	C	-0.12%
MOH	F	-0.12%
FICO	B	-0.12%
MNST	C	-0.12%
AZPN	A	-0.11%
TDY	B	-0.11%
AEE	A	-0.11%
XEL	A	-0.11%
EG	C	-0.1%
WTW	B	-0.1%
XOM	B	-0.1%
WDAY	B	-0.1%
PCG	A	-0.1%
ABT	B	-0.1%
TPL	A	-0.1%
NEM	D	-0.09%
AEP	D	-0.07%
IT	C	-0.07%
KNX	B	-0.06%
ANET	C	-0.06%
DINO	D	-0.06%
CHRW	C	-0.06%
CAG	D	-0.05%
GPC	D	-0.05%
HOLX	D	-0.05%
ACI	C	-0.05%
KO	D	-0.05%
HSIC	B	-0.05%
HKD	F	-0.0%