First-Year Review
Cambria Global EW ETF's largest holding is another fund, about 25 times an equal share
VictoryShares US 500 Volatility Wtd ETF
The ETF.net CFA Grade
C
Score 49 out of 100
- 10 of 16
Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F7 out of 100Rank 14 of 16Mission
Whether the fund did what it promised, tested against its stated mandate.A92 out of 100Rank 4 of 16Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 8 of 16Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C40 out of 100Rank 10 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A88 out of 100Rank 1 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C54 out of 100Rank 10 of 16
Our read on CFA
In short
CCFA puts its low-volatility tilt in the weighting rather than a screen: roughly 500 US large caps, each sized by its own volatility instead of its market value. A 2014-vintage take on the factor.
Stated mandate
The fund aims to track the performance of the CEMP US Large Cap 500 Volatility Weighted Index before accounting for fees and expenses.
Why people hold it
Worth knowing
CFA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
CFA$11,382
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CFA |
|---|---|
| Year to date | +12.1% |
| 1 month | +5.7% |
| 3 months | +1.7% |
| 1 year | +13.8% |
| 3 years | +16.9% |
| 5 years | +7.6% |
| 10 years | +11.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CFA |
|---|---|---|
| 2026 YTD | +12.1% | |
| 2025 | +8.6% | |
| 2024 | +15.3% | |
| 2023 | +11.9% | |
| 2022 | −11.4% | |
| 2021 | +26.1% | |
| 2020 | +12.0% |
CFA in the news
CFA Dividends
- 1.21%
- $1.22
- $0.10 per share
- Monthly
CFA Risk
- 12.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.00
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.86
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
CFA Cost
Overpaying vs QLV, cheapest in US Low Volatility Index
$5,437
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
CFA 0.35%
$7,126
QLV 0.08% Cheapest
$1,689
Cost over time
Year by year
| Year | CFA | QLV | Overpaying |
|---|---|---|---|
| 10 | $634 | $147 | $487 |
| 20 | $2,454 | $575 | $1,879 |
| 30 | $7,126 | $1,689 | $5,437 |
You pay 0.35%Waived by Victory Capital 0.03%
Full fee 0.38% waiver 0.03% you pay 0.35%
Other funds in US Low Volatility Index
- BSPLVInvesco S&P 500 Low Volatility ETFExpense ratio 0.25%1 year return +10.9%
- BVFMVVanguard U.S. Minimum Volatility ETFExpense ratio 0.13%1 year return +16.7%
- CESMViShares ESG Optimized MSCI USA Min Vol Factor ETFExpense ratio 0.18%1 year return +13.6%
- CCFOVictoryShares US 500 Enhanced Volatility Wtd ETFExpense ratio 0.35%1 year return +13.8%
- CXMLVInvesco S&P MidCap Low Volatility ETFExpense ratio 0.25%1 year return +10.2%
