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Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Alpha Architect Value Momentum Trend ETF

VMOT | Active ETF

$25.93

$28 M

3.70%

$0.96

1.60%

Vitals

YTD Return

11.5%

1 yr return

21.6%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

3.0%

Net Assets

$28 M

Holdings in Top 10

101.8%

52 WEEK LOW AND HIGH

$25.9
$21.86
$26.81

Expenses

OPERATING FEES

Expense Ratio 1.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 3.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Alpha Architect Value Momentum Trend ETF

VMOT | Active ETF

$25.93

$28 M

3.70%

$0.96

1.60%

VMOT - Profile

Distributions

  • YTD Total Return 11.5%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.57%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Alpha Architect Value Momentum Trend ETF
  • Fund Family Name
    Alpha Architect
  • Inception Date
    May 02, 2017
  • Shares Outstanding
    1680000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Wesley Gray

Fund Description

The Fund is actively managed by Alpha Architect, LLC, the Fund’s investment sub-adviser (“Alpha Architect” or the “Sub-Adviser”). The Sub-Adviser manages the Fund using proprietary methodology developed by the parent company of the Adviser and Sub-Adviser, Empirical Finance, LLC, dba Alpha Architect.
The Fund is a “fund of funds,” meaning that it primarily invests its assets in the shares of other exchange-traded funds (“ETFs”), rather than in securities of individual companies. The Fund’s portfolio is composed primarily of four other ETFs sub-advised by the Sub-Adviser: Alpha Architect U.S. Quantitative Value ETF, Alpha Architect International Quantitative Value ETF, Alpha Architect U.S. Quantitative Momentum ETF, and Alpha Architect International Quantitative Momentum ETF (each, an “Underlying Alpha Architect ETF”). The Fund invests in value and momentum securities. Alpha Architect U.S. Quantitative Value ETF and Alpha Architect U.S. Quantitative Momentum ETF provide exposure to domestic equity securities, while Alpha Architect International Quantitative Value ETF and Alpha Architect International Quantitative Momentum ETF provide exposure to international equity securities. In addition, the Fund may, from time to time, use hedging strategies (as described more below).
The Underlying Alpha Architect ETFs can be grouped into ETFs that use a quantitative momentum investment strategy (Alpha Architect U.S. Quantitative Momentum ETF and Alpha Architect International Quantitative Momentum ETF, referred to as the “Momentum ETFs”) and those that use a quantitative value investment strategy (Alpha Architect U.S. Quantitative Value ETF and the Alpha Architect International Quantitative Value ETF, referred to as the “Value ETFs”). A “momentum” investment style emphasizes investing in securities that recently have had better recent total return performance compared to other securities. In contrast, a “value” investment style emphasizes investing in securities that based on quantitative analysis are considered undervalue compared to other securities.
The Sub-Adviser manages each of the Underlying Alpha Architect ETFs using a multi-step, quantitative, rules-based methodology to identify a portfolio of equity securities with the highest relative momentum (for the Momentum ETFs) or potential for capital appreciation (for the Value ETFs), as described below. Construction of each Momentum and Value ETF’s portfolio begins with a universe of stocks that principally trade on the applicable exchanges (e.g., either U.S. exchanges or exchanges in countries included in the MSCI EAFE Index). Each universe of stocks is then screened to, among other things, include the largest common stocks based on their market capitalization (e.g., above $1 billion). A liquidity screen is then employed to eliminate illiquid securities.
For the Momentum ETFs, the Sub-Adviser then eliminates companies with potential issues, and thereafter screens the remaining companies to identify those with the highest cumulative return for the past 12 months, excluding the last month. Last, the Sub-Adviser employs momentum quality screens to identify which of the remaining companies has experienced the most consistent positive returns during the 12-month period measured above. The Sub-Adviser will reallocate the Momentum ETFs’ portfolios on a periodic basis, generally each month.
For the Value ETFs, the second stage incorporates proprietary models to identify and exclude companies at risk of potential poor financial performance. The third stage employs a value-driven approach to identify the cheapest firms based on a proprietary value-centric metric similar to what is known as the “enterprise multiple,” a firm’s total enterprise value divided by earnings before interest and taxes (EBIT). Last, the Sub-Adviser employs an ensemble of quality screens, which consider metrics like current profitability, stability, and recent operational improvements. The Sub-Adviser will reallocate the Value ETFs’ portfolios on a periodic basis, generally each month.
The Sub-Adviser allocates the Fund’s portfolio across the four Underlying Alpha Architect ETFs using a proprietary model. The Fund will generally allocate more assets to an Underlying Alpha Architect ETFs with higher relative momentum and fewer assets to an Underlying Alpha Architect ETF with lower relative momentum. As of September 30, 2023, the Fund, excluding the use of any hedging strategies (as described more below), was weighted as follows: 30.31% in the Alpha Architect U.S. Quantitative Value ETF; 34.68% in the Alpha Architect
International Quantitative Value ETF; 14.33% in the Alpha Architect U.S. Quantitative Momentum ETF; 19.74% Alpha Architect International Quantitative Momentum ETF; and 0.94% in cash and cash equivalents.
As of September 30, 2023, the Fund had significant exposure to the following sectors: Consumer Discretionary (26.67%) and Energy (20.96%).
Hedging
To seek to avoid down trending markets, the Fund may hedge up to 100% of the value of its long portfolio. The Sub-Adviser uses a mathematical modeling approach with respect to the use of hedging techniques. The Fund may use derivatives, including U.S. exchange-traded stock index futures or options thereon, to seek to hedge during times when the Sub-Adviser’s model indicates that the U.S. equity market or international equity market identifies unfavorable trends in each respective market. The Fund will engage in hedging of its U.S. portfolio by shorting a representative broad-based U.S. securities index ETF or similar futures contracts. Likewise, the Fund will engage in hedging of its international portfolio by shorting a representative broad-based international securities index ETF or similar futures contracts. As of September 30, 2023, the Fund’s portfolio was 0% hedged.
Reallocations and Cash
The Fund’s portfolio will generally be reallocated up to twice a month. The Sub-Adviser performs the above-mentioned hedging calculations twice each month.
Read More

VMOT - Performance

Return Ranking - Trailing

Period VMOT Return Category Return Low Category Return High Rank in Category (%)
YTD 11.5% -11.3% 33.8% 42.18%
1 Yr 21.6% -11.6% 39.3% 31.97%
3 Yr -0.5%* -12.2% 25.7% 81.68%
5 Yr 3.0%* -2.5% 23.2% 83.19%
10 Yr N/A* -3.8% 9.9% 70.67%

* Annualized

Return Ranking - Calendar

Period VMOT Return Category Return Low Category Return High Rank in Category (%)
2023 -4.7% -17.3% 43.8% 93.29%
2022 -9.0% -54.0% 17.4% 43.28%
2021 2.7% -40.0% 54.1% 61.72%
2020 4.7% -47.6% 88.4% 45.08%
2019 2.8% -20.3% 62.6% 85.22%

Total Return Ranking - Trailing

Period VMOT Return Category Return Low Category Return High Rank in Category (%)
YTD 11.5% -11.3% 33.8% 42.18%
1 Yr 21.6% -11.6% 39.3% 31.97%
3 Yr -0.5%* -12.2% 25.7% 81.68%
5 Yr 3.0%* -2.5% 23.2% 83.19%
10 Yr N/A* -3.8% 9.9% N/A

* Annualized

Total Return Ranking - Calendar

Period VMOT Return Category Return Low Category Return High Rank in Category (%)
2023 -0.7% -14.5% 43.8% 95.30%
2022 -7.0% -54.0% 50.3% 50.00%
2021 3.5% -40.0% 61.6% 71.88%
2020 4.7% -29.9% 91.0% 49.18%
2019 4.6% -17.9% 79.4% 83.48%

VMOT - Holdings

Concentration Analysis

VMOT Category Low Category High VMOT % Rank
Net Assets 28 M 1.08 M 6.67 B 89.26%
Number of Holdings 5 3 2209 95.97%
Net Assets in Top 10 27 M 625 K 2.41 B 71.14%
Weighting of Top 10 101.82% 2.1% 101.8% 0.67%

Top 10 Holdings

  1. Alpha Architect US Quantitative Value ETF 34.61%
  2. Alpha Architect US Quantitative Momentum ETF 30.85%
  3. Alpha Architect International Quantitative Value ETF 19.13%
  4. Alpha Architect International Quantitative Momentum ETF 14.57%
  5. First American Government Obligations Fund 2.66%

Asset Allocation

Weighting Return Low Return High VMOT % Rank
Stocks 		99.16% 0.00% 100.92% 2.01%
Cash 		2.66% 0.00% 99.60% 91.28%
Preferred Stocks 		0.00% -1.01% 6.36% 61.74%
Other 		0.00% -48.19% 99.35% 62.42%
Convertible Bonds 		0.00% -0.02% 4.48% 56.74%
Bonds 		0.00% 0.00% 90.68% 71.81%

Stock Sector Breakdown

Weighting Return Low Return High VMOT % Rank
Energy 		19.84% 0.00% 32.57% 3.33%
Basic Materials 		17.95% 0.00% 28.58% 2.50%
Consumer Cyclical 		14.98% 0.00% 88.83% 14.17%
Industrials 		14.37% 0.00% 31.93% 15.00%
Technology 		8.44% 0.00% 43.24% 85.83%
Consumer Defense 		6.81% 0.00% 19.75% 41.67%
Healthcare 		5.74% 0.00% 100.00% 90.83%
Financial Services 		5.46% 0.00% 83.83% 88.33%
Utilities 		3.49% 0.00% 21.71% 18.33%
Communication Services 		2.56% 0.00% 32.32% 83.33%
Real Estate 		0.36% 0.00% 10.93% 66.67%

Stock Geographic Breakdown

Weighting Return Low Return High VMOT % Rank
US 		99.16% 0.00% 100.92% 2.01%
Non US 		0.00% -2.95% 54.79% 66.44%

VMOT - Expenses

Operational Fees

VMOT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.60% 0.42% 9.95% 78.52%
Management Fee 0.45% 0.00% 2.50% 8.05%
12b-1 Fee 0.00% 0.00% 1.00% 17.72%
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

VMOT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

VMOT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VMOT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 3.00% 0.00% 446.00% 11.30%

VMOT - Distributions

Dividend Yield Analysis

VMOT Category Low Category High VMOT % Rank
Dividend Yield 3.70% 0.00% 27.22% 0.57%

Dividend Distribution Analysis

VMOT Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Quarterly

Net Income Ratio Analysis

VMOT Category Low Category High VMOT % Rank
Net Income Ratio 0.57% -3.33% 2.16% 11.56%

Capital Gain Distribution Analysis

VMOT Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

VMOT - Fund Manager Analysis

Managers

Wesley Gray

Start Date

Tenure

Tenure Rank

May 02, 2017

5.08

5.1%

Wesley R.Gray, Ph.D. has studied and been an active participant in financial markets throughout his career. After serving as a Captain in the USMC, Dr. Gray received a PhD, and was a finance professor at Drexel University. Dr. Gray's interest in entrepreneurship and behavioral finance led him to found Alpha Architect, LLC, an SEC-registered Investment Advisor, where he is the Executive Managing Member. Dr. Gray has published two books: Embedded: A Marine Corps Adviser Inside the Iraqi Army and Quantitative Value: A practitioner's guide to Automating Intelligent Investment and Eliminating Behavioral Errors. His work has been highlighted on CNN, NPR, Motley Fool, WSJ Market Watch, CFA Institute, Institutional Investor, and CBS news. Dr. Gray earned an MBA and a PhD in finance from the University of Chicago and graduated magna cum laude with a BS from the Wharton School at the University of Pennsylvania

John Vogel

Start Date

Tenure

Tenure Rank

May 02, 2017

5.08

5.1%

Dr. Vogel is a Managing Member of Empowered Funds, LLC and Empiritrage, where he heads the research department and assists in business development and operations. Dr. Vogel conducts research in empirical asset pricing and behavioral finance, and has collaborated with Dr. Gray on multiple projects. His academic experience involves being an instructor and research assistant at Drexel University in both the Finance and Mathematics departments. Dr. Vogel received a Ph.D. in Finance from Drexel University. He has a M.S. in Mathematics from Drexel University, and graduated summa cum laude with a B.S. in Mathematics and Education from The University of Scranton. Dr. Vogel holds the Series 65 license.

Brandon Koepke

Start Date

Tenure

Tenure Rank

Jun 26, 2020

1.93

1.9%

Mr. Brandon Koepke serves as Chief Technology Officer & Portfolio Manager. Mr. Koepke has a BSc in Computer Science specializing in Software Engineering at the University of Calgary and a BComm in Finance from the Haskayne School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.0 7.93

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