ETF Evaluator:
VictoryShares US LgCp Hi Div Vol Wtd ETF (CDL)
Follow This ETF
(as of Jul 31)
Best Performing in Large Value Over the Last Year
| 80.0% | iShares MSCI USA Value Factor ETF (VLUE) |
| 37.2% | Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) |
| 36.6% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 35.3% | Avantis US Large Cap Value ETF (AVLV) |
| 35.1% | LSV Disciplined Value ETF (LSVD) |
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ETF Details
VictoryShares US LgCp Hi Div Vol Wtd ETF Overview
VictoryShares US LgCp Hi Div Vol Wtd ETF (CDL) is a passively managed U.S. Equity Large Value exchange-traded fund (ETF). Victory Capital Management Inc. launched the ETF in 2015.
The investment seeks to provide investment results that track the performance of the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index.
The fund seeks to achieve its investment objective by investing at least 80% of its assets directly or indirectly in the securities included in the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index. The index universe begins with the stocks included in the Nasdaq Victory U.S. Large Cap 500 Volatility Weighted Index, a volatility weighted index comprised of the 500 largest U.S. companies by market capitalization with positive earnings over the last twelve months.
About VictoryShares US LgCp Hi Div Vol Wtd ETF (CDL)
There are 2 members of the management team with an average tenure of 4.87 years: Mannik Dhillon (2018) and Lela Dunlap (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. VictoryShares US LgCp Hi Div Vol Wtd ETF has 102 securities in its portfolio. The top 10 holdings constitute 16.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VictoryShares US LgCp Hi Div Vol Wtd ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. VictoryShares US LgCp Hi Div Vol Wtd ETF has 1.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.6% There is 1.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VictoryShares US LgCp Hi Div Vol Wtd ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $391 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CDL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VictoryShares US LgCp Hi Div Vol Wtd ETF expense ratio is below average compared to funds in the Large Value category. VictoryShares US LgCp Hi Div Vol Wtd ETF has an expense ratio of 0.35%, which is 5% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VictoryShares US LgCp Hi Div Vol Wtd ETF has a portfolio turnover rate of 44%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 41% for the Large Value category.
Recently, in the month of June 2026, VictoryShares US LgCp Hi Div Vol Wtd ETF returned 2.6%, which earned it a grade of B, as the Large Value category had an average return of 1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VictoryShares US LgCp Hi Div Vol Wtd ETF has a trailing yield of 3.12%, which is above the 1.74% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VictoryShares US LgCp Hi Div Vol Wtd ETF Grades
Year to date, the ETF has returned 14.3%, 2.5 percentage points better than the category, which translates into a grade of B. The fund has returned 20.5% over the past year (grade of D), 15.1% over the past three years (grade of D) and 10.2% per year over the past five years (grade of D) and 11.1% per year over the past 10 years (grade of F).
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CDL Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CDL Return (NAV) | 2.6% | 4.9% | 20.5% | 15.1% | 10.2% | 11.1% |
| CDL Return (Price) | 2.6% | 5.0% | 20.5% | 15.1% | 10.2% | 11.1% |
| NAV +/- Price Return | 0.006% | -0.109% | 0.039% | 0.011% | -0.015% | -0.010% |
| Large Value Avg | 1.1% | 9.8% | 22.0% | 16.7% | 11.0% | 12.2% |
| CDL Grade (NAV) | B | F | D | D | D | F |
| +/- Category (NAV) | 1.5% | -5.0% | -1.5% | -1.6% | -0.8% | -1.1% |
| CDL Tax-Cost Ratio | na | na | 1.4% | 1.4% | 1.4% | 1.3% |
CDL Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CDL Return (NAV) | 14.3% | 9.0% | 15.5% | 3.1% | -0.3% | 33.1% | -3.3% | 26.5% | -5.5% | 15.7% | 20.6% |
| CDL Return (Price) | 14.3% | 9.0% | 15.6% | 3.0% | -0.4% | 33.4% | -3.3% | 26.4% | -5.9% | 16.3% | 20.5% |
| NAV +/- Price Ret | -0.004% | 0.005% | 0.003% | -0.028% | 0.250% | 0.011% | 0.008% | -0.4% | 5.7% | 3.5% | -0.6% |
| Large Value Avg | 11.9% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| CDL Grade (NAV) | B | F | C | F | A | A | F | C | B | D | A |
| +/- Category | 2.5% | -5.8% | 0.1% | -9.9% | 6.2% | 6.4% | -8.7% | -0.9% | 1.0% | -1.9% | 4.9% |
| Risk Measures | |
| Beta: | 0.51 |
| R-Squared: | 30% |
| Standard Deviation: | 12.1% |
| Category Risk Index: | 0.99 |
| Category Risk Rating: | Average |
| Total Risk Index: | 0.99 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 3.1% |
| Total Assets: | $ 392 Mil |
| Share Class Assets: | $ 392 Mil |
| Turnover: | 44.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.1 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Dhillon Mannik (2018), Dunlap Lela (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 102 |
| % in Top 10 Holdings: | 16.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.4% |
Portfolio Allocation |
|
| Domestic Stock: | 98.6% |
| Foreign Stock: | 1.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Victory Capital Management Inc. |
| Phone Number: | 866-376-7890 |
| Website: | www.CompassEMPFunds.com |
| Inception Date: | July 7, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.37% |
