Victory Capital today announced that the first three of its
VictoryShares volatility weighted ETFs have achieved their
three-year track records and earned 5-Star Overall Morningstar
Ratings™ in their respective categories as of July 31, 2017. The
ETFs, which track the firm’s proprietary CEMP volatility weighted
indexes, use a rules-based approach to seek to outperform
traditional market cap weighted indexing strategies. They
include:
- VictoryShares US 500 Volatility Wtd ETF
(CFA)
- VictoryShares US 500 Enhanced
Volatility Wtd ETF (CFO)
- VictoryShares US EQ Income Enhanced
Volatility Wtd ETF (CDC)
CFA and CFO ranked in the top 10% of 1,233 qualified Large Blend
funds over three years as of July 31, 2017, while CDC ranked in the
top 1% of the 1,100 qualified Large Value funds for that same
period.
Traditional market cap weighted indexes are typically dominated
by the performance and risk profile of a handful of mega-cap
companies. The CEMP volatility weighted indexes address that
concentration challenge by weighting the stocks in the index based
on volatility (standard deviation over the past 180 trading days),
thereby offering broader exposure to the entire market.
Additionally, to be included in the index, a company must maintain
four consecutive quarters of positive earnings.
“We’re pleased to be able to provide our clients with an
alternative to traditional market cap weighting,” said Mannik
Dhillon, President, VictoryShares and Solutions. “We’ve developed a
rules-based approach to investing in profitable companies and
weighting them based on their volatility that seeks to outperform
the S&P 500 Index with less risk. The strong results that we
have been able to deliver through CFA, CFO and CDC serve as solid
evidence that our methodology is working.”
The VictoryShares volatility weighted approach differs from
competing methodologies that invest in low volatility companies.
Instead, the indexes use volatility as a weighting mechanism to
seek to achieve broad-market diversification. Over the past three
years, Victory Capital has extended the approach beyond the US
broad market to provide investors with volatility weighted
solutions that seek to provide exposure to high dividends as well
as international and emerging markets.
The VictoryShares ETF platform, which has grown to approximately
$1.7 billion in AUM as of July 31, 2017, is designed to provide
investors with rules-based solutions that help bridge the gap
between the active and traditional passive elements of their
portfolios. In addition to its suite of volatility weighted ETFs,
the VictoryShares platform includes two recently launched ETFs: the
VictoryShares Dividend Accelerator ETF (VSDA) and the VictoryShares
US Multi-Factor Minimum Volatility ETF (VSMV). Both ETFs track
indexes developed in partnership with Nasdaq.
Visit www.victoryshares.com for more information.
ABOUT VICTORY CAPITAL
Victory Capital is an integrated multi-boutique asset management
firm, headquartered in Cleveland, Ohio. As of June 30, 2017, the
firm had approximately $57.0 billion in assets under management and
advisement.
Victory Capital is comprised of 10 autonomous investment
franchises, each with an independent culture and investment
approach. The franchises are supported by a robust distribution and
operational platform, allowing them to focus solely on investment
management.
Victory Capital provides investment advisory services to
institutional clients including corporations, non-profits, public
funds, Taft-Hartley and sub-advisory clients through separate
accounts and commingled funds. Through its intermediary channel,
Victory Capital also offers retail and retirement clients mutual
funds and ETFs as well as separately managed accounts through wrap
fee programs and access to its investment models through unified
managed accounts. For more information, please visit
www.vcm.com.
Past performance does not guarantee future results. Ratings
are based on risk-adjusted performance. Ratings reflect fee waivers
in effect; in their absence, ratings may have been lower. The
performance data quoted represents past performance and current
returns may be lower or higher. The investment return and principal
value will fluctuate so that an investor’s shares, when redeemed,
may be worth more or less than the original cost. To obtain
performance information current to the most recent month-end,
please call the Fund at 1-866-376-7890. ETF shares are bought and
sold at market price (not NAV) and are not individually redeemed
from the Fund. The market price used to calculate the Closing
Market Price is the last trade as of the time that the Fund’s NAV
is calculated. If you trade your shares at another time, your
return may differ. Index performance is shown for illustrative
purposes only. It is not possible to invest directly in an
unmanaged index.
An investor should consider the fund’s investment objectives,
risks, charges and expenses carefully before investing or sending
money. This and other important information about the fund can be
found in the fund’s prospectus, or, if applicable, the summary
prospectus. To obtain a copy, visit
www.victorysharesliterature.com or call 1.866.376.7890.
Read the prospectus carefully before investing.
Investing involves risk, including the potential loss of
principal. The funds have the same risks as the underlying
securities traded on the exchange throughout the day. There is no
guarantee that dividends will be paid. The value of the equity
securities in which the funds invest may decline in response to
developments affecting individual companies and/or general economic
conditions. You may lose money by investing in the funds. There is
no guarantee that the funds will achieve their objectives.
As of 07/31/2017, CFO and CFA were rated against 1223 funds
in the Morningstar Large Blend Category for the Overall and 3-year
periods and received 5 star ratings, respectively. CDC was rated
against 1100 funds in the Morningstar Large Value category for the
Overall and 3-year periods and received 5 star ratings,
respectively.
Morningstar Rating™The Morningstar Rating™ for funds, or
"star rating", is calculated for managed products (including mutual
funds, variable annuity and variable life subaccounts,
exchange-traded funds, closed-end funds, and separate accounts)
with at least a three-year history. Exchange-traded funds and
open-ended mutual funds are considered a single population for
comparative purposes. It is calculated based on a Morningstar
Risk-Adjusted Return measure that accounts for variation in a
managed product's monthly excess performance, placing more emphasis
on downward variations and rewarding consistent performance. The
top 10% of products in each product category receive 5 stars, the
next 22.5% receive 4 stars, the next 35% receive 3 stars, the next
22.5% receive 2 stars, and the bottom 10% receive 1 star. The
Overall Morningstar Rating for a managed product is derived from a
weighted average of the performance figures associated with its
three-, five-, and 10-year (if applicable) Morningstar Rating
metrics. The weights are: 100% three-year rating for 36-59 months
of total returns, 60% five-year rating/40% three-year rating for
60-119 months of total returns, and 50% 10-year rating/30%
five-year rating/20% three-year rating for 120 or more months of
total returns. While the 10-year overall star rating formula seems
to give the most weight to the 10-year period, the most recent
three-year period actually has the greatest impact because it is
included in all three rating periods. Percentile rank is a
standardized way of ranking items within a peer group, in this
case, funds with the same Morningstar Category. The observation
with the largest numerical value is ranked one; the observation
with the smallest numerical value is ranked 100. The remaining
observations are placed equal distance from one another on the
rating scale. Note that lower percentile ranks are generally more
favorable for returns (high returns), while higher percentile ranks
are generally more favorable for risk measures (low risk).
Morningstar is a registered trademark of Morningstar, Inc.
VictoryShares ETFs are distributed by Foreside Fund Services,
LLC., member FINRA and SIPC. Victory Capital Management Inc., not
an affiliate of Foreside Fund Services, LLC., is the investment
advisor to the Funds.
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