ULVM vs. QDEF ETF Comparison

Comparison of VictoryShares USAA MSCI USA Value Momentum ETF (ULVM) to FlexShares Quality Dividend Defensive Index Fund (QDEF)

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

$84.72

Average Daily Volume

2,588

Number of Holdings ^*

125

* may have additional holdings in another (foreign) market

QDEF

FlexShares Quality Dividend Defensive Index Fund

QDEF Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Quality Dividend Defensive IndexSM. The fund generally will invest under normal circumstances at least 80% of its total assets in the securities of the underlying index. The underlying index is designed to provide exposure to a high-quality, income-oriented portfolio of U.S. equity securities, with an emphasis on long-term capital growth and a targeted overall volatility that is lower than that of the Northern Trust 1250 IndexSM. It may also invest up to 20% of its assets in cash and cash equivalents.

Grade (RS Rating)

Last Trade

$71.73

Average Daily Volume

6,798

Number of Holdings ^*

123

* may have additional holdings in another (foreign) market

Performance

Period	ULVM	QDEF
30 Days	2.16%	-1.09%
60 Days	6.06%	1.41%
90 Days	9.07%	3.61%
12 Months	34.38%	28.67%

27 Overlapping Holdings

Symbol	Grade	Weight in ULVM	Weight in QDEF	Overlap
AVB	B	0.99%	0.18%	0.18%
AVGO	C	0.43%	0.88%	0.43%
BAC	A	0.93%	0.02%	0.02%
BK	B	1.23%	0.67%	0.67%
CI	D	0.88%	0.83%	0.83%
COST	A	0.95%	0.24%	0.24%
CSL	C	0.77%	0.53%	0.53%
DELL	B	0.34%	0.46%	0.34%
DUK	C	1.16%	0.77%	0.77%
EME	A	0.79%	0.64%	0.64%
ESS	A	0.88%	0.54%	0.54%
EXC	C	0.85%	0.39%	0.39%
GOOGL	B	0.74%	1.36%	0.74%
IBM	C	0.84%	1.7%	0.84%
JPM	A	1.05%	0.73%	0.73%
LDOS	C	1.11%	0.57%	0.57%
LMT	D	1.21%	1.05%	1.05%
MCK	A	0.95%	0.71%	0.71%
META	C	0.53%	2.76%	0.53%
NVDA	A	0.42%	6.0%	0.42%
PEG	C	1.18%	0.26%	0.26%
SWKS	F	0.39%	0.39%	0.39%
T	A	1.07%	0.77%	0.77%
VRT	A	0.49%	0.45%	0.45%
VZ	C	0.88%	0.65%	0.65%
WMT	A	1.18%	0.12%	0.12%
WSM	D	0.39%	0.41%	0.39%

ULVM Overweight 98 Positions Relative to QDEF

Symbol	Grade	Weight
KMI	A	1.42%
BRK.A	B	1.39%
FI	A	1.36%
L	A	1.28%
ETR	A	1.25%
TRGP	A	1.22%
WELL	A	1.2%
BSX	A	1.18%
GD	D	1.17%
PKG	B	1.13%
WAB	B	1.05%
FOXA	B	1.04%
SSNC	C	1.03%
RTX	D	1.03%
KR	B	1.0%
HIG	B	0.99%
GDDY	A	0.98%
GS	B	0.98%
CTSH	C	0.97%
APP	A	0.95%
WFC	A	0.94%
EQH	B	0.93%
AIG	C	0.93%
COF	B	0.93%
DGX	A	0.92%
DAL	A	0.91%
AXP	B	0.91%
MLM	B	0.9%
NWSA	B	0.9%
UAL	A	0.89%
VICI	C	0.89%
TSN	B	0.89%
RGA	B	0.87%
LYB	F	0.86%
SPG	A	0.86%
GRMN	B	0.85%
WY	D	0.84%
KIM	A	0.84%
KHC	F	0.83%
C	B	0.83%
SYF	B	0.83%
DOW	F	0.82%
APH	B	0.82%
IR	B	0.81%
FITB	B	0.78%
STLD	B	0.78%
TXT	D	0.78%
CBRE	B	0.77%
IRM	C	0.77%
NVR	D	0.77%
GM	B	0.76%
TFC	A	0.74%
IP	A	0.73%
KKR	A	0.72%
REGN	F	0.72%
OC	A	0.72%
VTRS	A	0.71%
ELV	F	0.71%
CASY	A	0.71%
FANG	D	0.7%
PSX	C	0.7%
HCA	F	0.7%
FCNCA	A	0.69%
DD	D	0.68%
UTHR	C	0.68%
PFE	F	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	A	0.61%
HPQ	B	0.6%
FDX	B	0.6%
HPE	B	0.59%
PHM	D	0.59%
ARE	F	0.58%
MPC	D	0.58%
MSTR	A	0.58%
NTAP	C	0.57%
URI	B	0.57%
CVS	F	0.56%
THC	C	0.56%
LEN	D	0.55%
TOL	B	0.54%
CNC	F	0.54%
LLY	F	0.51%
ALLY	C	0.49%
F	C	0.48%
DHI	D	0.47%
WDC	F	0.46%
ADM	D	0.44%
BLDR	D	0.42%
MU	D	0.41%
INTC	C	0.41%
CVNA	A	0.38%
MRNA	F	0.16%

ULVM Underweight 96 Positions Relative to QDEF

Symbol	Grade	Weight
AAPL	C	-6.07%
MSFT	D	-4.97%
HD	A	-3.07%
JNJ	D	-2.93%
PG	C	-2.83%
ABBV	F	-2.6%
MRK	F	-2.25%
QCOM	F	-1.65%
PM	A	-1.65%
INTU	B	-1.29%
TMUS	B	-1.14%
ADP	B	-1.13%
GOOG	B	-1.1%
GILD	C	-1.03%
TJX	A	-0.99%
SBUX	A	-0.98%
MO	A	-0.86%
AMT	D	-0.82%
KLAC	F	-0.79%
ITW	B	-0.74%
MSI	B	-0.74%
CME	A	-0.71%
MMM	D	-0.66%
UNM	A	-0.65%
KO	D	-0.65%
BWXT	A	-0.64%
PAYX	B	-0.63%
UMBF	B	-0.61%
CSCO	B	-0.61%
FIS	C	-0.6%
EA	A	-0.6%
AFL	C	-0.6%
CFR	B	-0.6%
GEN	B	-0.59%
PSA	C	-0.59%
AIZ	A	-0.58%
WTW	B	-0.58%
FAST	B	-0.58%
VIRT	A	-0.57%
CSWI	A	-0.57%
COR	B	-0.57%
VRSK	B	-0.57%
D	C	-0.56%
WDFC	B	-0.55%
PPL	A	-0.55%
ORI	A	-0.54%
RMD	C	-0.54%
K	B	-0.53%
OHI	B	-0.53%
MET	A	-0.53%
EQR	C	-0.53%
MAA	A	-0.53%
PNW	B	-0.52%
IRDM	F	-0.52%
CPT	C	-0.51%
OTIS	C	-0.51%
KMB	C	-0.51%
XOM	B	-0.5%
OMF	A	-0.5%
LSTR	D	-0.49%
ED	C	-0.49%
AVY	D	-0.48%
DOX	D	-0.48%
BPOP	C	-0.48%
RDN	D	-0.48%
LOW	C	-0.47%
NSA	C	-0.47%
OGE	A	-0.47%
IPG	F	-0.46%
BMY	A	-0.45%
GIS	F	-0.45%
HRB	D	-0.45%
WU	F	-0.43%
EXPD	D	-0.42%
SAIC	F	-0.41%
DPZ	C	-0.41%
CUBE	C	-0.4%
EVRG	A	-0.4%
EBAY	D	-0.4%
CHE	F	-0.39%
V	A	-0.38%
MSM	D	-0.37%
BSY	D	-0.37%
STNG	D	-0.36%
STWD	C	-0.32%
NEP	F	-0.32%
WEC	A	-0.28%
MA	B	-0.23%
MAS	D	-0.23%
NNN	C	-0.21%
CAH	B	-0.17%
SCCO	F	-0.16%
BAH	D	-0.12%
DDS	B	-0.12%
ROL	B	-0.12%
ZTS	D	-0.11%