VictoryShares USAA MSCI Emerging Markets Value Momentum ETF (UEVM) is an exchange-traded fund that seeks to track the performance of the MSCI Emerging Markets Value Momentum Index. The ETF provides investors with exposure to emerging market equities selected based on a combination of value and momentum factors; it holds a diversified portfolio of stocks from countries including China, India, Taiwan, Brazil, and South Africa, focusing on companies exhibiting attractive valuations and positive price momentum. UEVM offers low-cost access to this smart beta strategy through daily liquidity on major U.S. exchanges, with an expense ratio typically around 0.45%.
Launched in 2015 and domiciled in the United States under the management of VictoryShares, which is part of Ameriprise Financial, the ETF targets institutional and retail investors seeking enhanced returns in emerging markets relative to traditional cap-weighted benchmarks. Its index methodology systematically screens for value metrics such as price-to-book and price-to-earnings ratios alongside 6- and 12-month momentum signals, rebalancing semi-annually to capture factor premiums while mitigating turnover. Geographically, holdings span over 20 emerging market countries, with heaviest allocations to Asia and Latin America.
In recent developments, UEVM benefited from Victory Capital's 2021 acquisition of USAA Asset Management, which expanded its distribution capabilities and integrated USAA's branded ETFs into the VictoryShares lineup without altering underlying strategies. The fund has seen steady assets under management growth amid renewed interest in emerging markets value strategies post-2023 global rate hikes; it launched no major new share classes but maintained competitive positioning through index enhancements announced in late 2024. No significant reorganizations or name changes have occurred, though VictoryShares continues to emphasize factor-based innovations across its suite of 20+ ETFs.