ETF Evaluator:
VictoryShares US Sm Md Cp Val Momt ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Small Value Over the Last Year
| 44.0% | EA Bridgeway Omni Small-Cap Value ETF (BSVO) |
| 43.5% | Cambria Micro and Smcp Shld Yld ETF (MYLD) |
| 42.4% | First Trust Small Cap Val AlphaDEX® ETF (FYT) |
| 42.0% | Invesco S&P SmallCap 600® Pure Value ETF (RZV) |
| 41.7% | EA Bridgeway Ultra-Small Company Mkt ETF (BUSM) |
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ETF Details
VictoryShares US Sm Md Cp Val Momt ETF Overview
VictoryShares US Sm Md Cp Val Momt ETF (USVM) is a passively managed U.S. Equity Small Value exchange-traded fund (ETF). Victory Capital Management Inc. launched the ETF in 2017.
The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Nasdaq Victory U.S. Small Mid Cap Value Momentum 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 small- and mid-capitalization U.S. issuers within the Nasdaq US 1300 Small Mid Cap 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.
About VictoryShares US Sm Md Cp Val Momt ETF (USVM)
There are 3 members of the management team with an average tenure of 5.90 years: Mannik Dhillon (2019), Lance Humphrey (2017) and Lela Dunlap (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Nasdaq US 1300 Small Mid Cap TR USD index with a weighting of 100%. VictoryShares US Sm Md Cp Val Momt ETF has 289 securities in its portfolio. The top 10 holdings constitute 7.0% 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 Sm Md Cp Val Momt ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. VictoryShares US Sm Md Cp Val Momt 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 Sm Md Cp Val Momt ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Small 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.
USVM 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 Sm Md Cp Val Momt ETF expense ratio is below average compared to funds in the Small Value category. VictoryShares US Sm Md Cp Val Momt ETF has an expense ratio of 0.29%, which is 40% lower than its category average, making the fund expense ratio grade a B. 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 Sm Md Cp Val Momt ETF has a portfolio turnover rate of 112%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 60% for the Small Value category.
Recently, in the month of July 2026, VictoryShares US Sm Md Cp Val Momt ETF returned -0.2%, which earned it a grade of D, as the Small Value category had an average return of 1.2%. 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 Sm Md Cp Val Momt ETF has a trailing yield of 1.82%, which is above the 1.71% category average.
The fund normally distributes its income monthly and its capital gains annually.
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 Sm Md Cp Val Momt ETF Grades
Year to date, the ETF has returned 21.2%, 1.4 percentage points better than the category, which translates into a grade of C. The fund has returned 33.7% over the past year (grade of C), 18.3% over the past three years (grade of A) and 11.1% per year over the past five years (grade of A).
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USVM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| USVM Return (NAV) | -0.2% | 6.7% | 33.7% | 18.3% | 11.1% | na |
| USVM Return (Price) | -0.1% | 6.7% | 33.7% | 18.3% | 11.1% | na |
| NAV +/- Price Return | -0.078% | -0.016% | -0.031% | 0.004% | -0.020% | na |
| Small Value Avg | 1.2% | 6.4% | 31.1% | 13.1% | 8.6% | 10.2% |
| USVM Grade (NAV) | D | B | C | A | A | na |
| +/- Category (NAV) | -1.4% | 0.3% | 2.6% | 5.2% | 2.5% | na |
| USVM Tax-Cost Ratio | na | na | 0.7% | 0.7% | 0.7% | na |
USVM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| USVM Return (NAV) | 21.2% | 10.5% | 16.6% | 18.7% | -13.2% | 24.5% | 11.6% | 21.6% | -9.3% | na | na |
| USVM Return (Price) | 21.1% | 10.6% | 16.6% | 18.9% | -13.2% | 24.4% | 11.6% | 21.7% | -9.4% | na | na |
| NAV +/- Price Ret | -0.005% | 0.007% | -0.003% | 0.010% | -0.001% | -0.003% | -0.005% | 0.2% | 1.3% | na | na |
| Small Value Avg | 19.7% | 7.0% | 7.8% | 17.1% | -10.9% | 33.0% | 4.1% | 21.2% | -12.2% | 9.8% | 29.4% |
| USVM Grade (NAV) | C | A | A | C | D | F | A | C | B | na | na |
| +/- Category | 1.4% | 3.5% | 8.8% | 1.7% | -2.4% | -8.5% | 7.5% | 0.4% | 2.9% | na | na |
| Risk Measures | |
| Beta: | 0.99 |
| R-Squared: | 56% |
| Standard Deviation: | 17.3% |
| Category Risk Index: | 0.94 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.41 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 1.8% |
| Total Assets: | $ 1,767 Mil |
| Share Class Assets: | $ 1,767 Mil |
| Turnover: | 112.0% |
| Expense Ratio: | 0.29% |
| Index Fund: | Yes |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.8 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Humphrey Lance (2017), Dhillon Mannik (2019), Dunlap Lela (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 289 |
| % in Top 10 Holdings: | 7.0% |
| 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: | October 24, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.29% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.48% |
