- ISIN
- US92647N7663
- CUSIP
- 92647N766
- Issuer
- VictoryShares
- Inception Date
- Jul 2, 2014
- Region
- North America (U.S.)
- Category
- Low Volatility
- Leveraged
- 1x (No leverage)
- Index Tracked
- Nasdaq Victory U.S. Large Cap 500 Volatility Weighted Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $538M
Highlights
- Avg. Volume (1M)
- 5K
- Avg. Volume Value (1M)
- $498.13K
Share Price Chart
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Performance
CFA Performance Chart
VictoryShares US 500 Volatility Weighted ETF (CFA) is up 10.2% since the beginning of the year. CFA is currently trading at $100 per share. Investors who bought $1,000 worth of CFA shares 5 years ago would now be looking at an investment worth $1,466.
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Returns By Period
VictoryShares US 500 Volatility Weighted ETF (CFA) has returned 10.24% so far this year and 15.32% over the past 12 months. Over the last ten years, CFA has returned 11.58% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
VictoryShares US 500 Volatility Weighted ETF
- 1D
- -0.18%
- 1M
- 0.23%
- 6M
- 7.04%
- YTD
- 10.24%
- 1Y
- 15.32%
- 3Y*
- 12.46%
- 5Y*
- 7.95%
- 10Y*
- 11.58%
- ALL TIME*
- 10.46%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
CFA Monthly Returns History
Based on dividend-adjusted daily data since Jul 2, 2014, CFA's average daily return is +0.05%, while the average monthly return is +0.92%. At this rate, an investment would double in approximately 6.3 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +12.7%, while the worst month was Mar 2020 at -16.5%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, CFA closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +9.9%, while the worst single day was Mar 16, 2020 at -12.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.99% | 3.33% | -5.31% | 5.00% | 0.61% | 2.55% | 0.98% | 10.24% | |||||
| 2025 | 4.00% | -0.80% | -3.39% | -2.40% | 4.08% | 2.91% | 0.56% | 2.29% | 0.89% | -1.10% | 1.73% | -0.15% | 8.63% |
| 2024 | 0.33% | 4.87% | 3.91% | -4.49% | 2.82% | -0.37% | 4.05% | 2.60% | 2.04% | -0.98% | 7.07% | -6.63% | 15.34% |
| 2023 | 5.32% | -3.13% | -0.26% | 0.45% | -3.54% | 7.09% | 2.94% | -2.21% | -4.55% | -3.11% | 8.04% | 5.32% | 11.85% |
| 2022 | -5.48% | -1.89% | 3.05% | -6.35% | 1.24% | -8.24% | 7.85% | -2.96% | -8.90% | 9.98% | 6.33% | -4.42% | -11.39% |
| 2021 | -1.16% | 3.58% | 5.41% | 5.02% | 1.06% | 0.29% | 2.52% | 2.24% | -4.53% | 5.70% | -2.34% | 6.27% | 26.09% |
Benchmark Metrics
VictoryShares US 500 Volatility Weighted ETF has an annualized alpha of 0.34%, beta of 0.88, and R2 of 0.84 versus S&P 500 Index. Calculated based on daily prices since July 02, 2014.
- This ETF participated in 93.35% of S&P 500 Index downside but only 89.40% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.88 and R2 of 0.84, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.34%
- Beta
- 0.88
- R²
- 0.84
- Upside Capture
- 89.40%
- Downside Capture
- 93.35%
Expense Ratio
CFA has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CFA ranks 56 for risk / return — above 56% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for VictoryShares US 500 Volatility Weighted ETF (CFA) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CFA | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.00 | +0.01 |
| Martin ratioReturn relative to average drawdown | 7.58 | 8.49 | -0.91 |
Dividends
Dividend History
VictoryShares US 500 Volatility Weighted ETF provided a 1.22% dividend yield over the last twelve months, with an annual payout of $1.21 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.21 | $1.18 | $1.12 | $1.06 | $1.08 | $0.81 | $0.75 | $0.76 | $0.66 | $0.56 | $0.55 | $0.47 |
Dividend yield | 1.22% | 1.29% | 1.32% | 1.42% | 1.59% | 1.04% | 1.21% | 1.35% | 1.50% | 1.15% | 1.37% | 1.31% |
Monthly Dividends
The table displays the monthly dividend distributions for VictoryShares US 500 Volatility Weighted ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.05 | $0.15 | $0.10 | $0.04 | $0.16 | $0.10 | $0.63 | |||||
| 2025 | $0.01 | $0.06 | $0.12 | $0.12 | $0.04 | $0.14 | $0.10 | $0.05 | $0.15 | $0.11 | $0.04 | $0.24 | $1.18 |
| 2024 | $0.03 | $0.04 | $0.15 | $0.08 | $0.03 | $0.14 | $0.08 | $0.05 | $0.14 | $0.09 | $0.05 | $0.24 | $1.12 |
| 2023 | $0.00 | $0.05 | $0.13 | $0.09 | $0.03 | $0.12 | $0.08 | $0.05 | $0.09 | $0.13 | $0.05 | $0.24 | $1.06 |
| 2022 | $0.01 | $0.03 | $0.13 | $0.09 | $0.02 | $0.12 | $0.09 | $0.05 | $0.15 | $0.08 | $0.08 | $0.24 | $1.08 |
| 2021 | $0.00 | $0.04 | $0.07 | $0.07 | $0.04 | $0.04 | $0.09 | $0.03 | $0.08 | $0.08 | $0.04 | $0.22 | $0.81 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the VictoryShares US 500 Volatility Weighted ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the VictoryShares US 500 Volatility Weighted ETF was 37.74%, occurring on Mar 23, 2020. Recovery took 159 trading sessions.
The current VictoryShares US 500 Volatility Weighted ETF drawdown is 1.36%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-37.74%Mar 2020 | 1mo 2d | 7mo 17d | 8mo 19dFeb 2020 - Nov 2020 | COVID crash2020 |
-20.88%Sep 2022 | 9mo 4d | 1y 4mo | 2y 1moDec 2021 - Jan 2024 | Bear market2022 |
-20.84%Dec 2018 | 3mo 4d | 4mo 7d | 7mo 11dSep 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-17.28%Apr 2025 | 4mo 7d | 4mo 16d | 8mo 23dDec 2024 - Aug 2025 | 2025 selloff2025 |
-14.17%Feb 2016 | 7mo 22d | 2mo 16d | 10mo 8dJun 2015 - Apr 2016 | — |
Drawdown Indicators
| CFA | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.74% | -56.78% | +19.04% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -9.10% | +1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -17.28% | -18.90% | +1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.88% | -25.43% | +4.55% |
Max Drawdown (10Y)Largest decline over 10 years | -37.74% | -33.92% | -3.82% |
Current DrawdownCurrent decline from peak | -1.36% | -1.58% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -10.70% | +6.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 2.14% | -0.25% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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