At a glance
UIVM charges 0.35% a year, above the 0.28% average of the 3 funds most like it (the most expensive of 4). It has $323.4M in assets, the 4th largest of that group; it paid 4.29% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +24.5% with distributions reinvested (S&P 500: +11.5%), 2nd of those 4 funds; over three years it returned +27.7% a year. At its worst it fell 27.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 17 months after the low. Its ten largest positions make up 10.4% of the fund, out of 203 in all.
The short version
VictoryShares International Value Momentum ETF (UIVM) tracks the Nasdaq Victory International Value Momentum Index. The index holds about 200 stocks from developed markets outside the US that look cheap and have strong price trends. It gives bigger weights to steadier, less volatile stocks. At 0.35% a year, it costs more than similar funds such as DFIV (0.27%). Its trailing yield was 4.29% as of October 27, 2026.
Price history
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UIVM +24.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| UIVM official prospectus, to Dec 31, 2025 | — | +44.43% | — | +11.50% | — | +6.73% |
| UIVM price data to Oct 27, 2026 | +18.2% | +24.5% | +27.7% | +12.8% | — | +14.9% |
- Over the year to Oct 27, 2026, UIVM returned +24.5%, 2nd of 4 among similar funds.
- Its 5-year annualized return was +12.8%.
- Its worst full calendar year was 2022 (-13.3%); its best was 2025 (+45.5%).
- The deepest fall in its price history was 28.3% (Sep 15, 2021 to Sep 30, 2022), recovered by Feb 22, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +18.2% | — |
| 2025 | +45.5% | +44.43% |
| 2024 | +5.2% | +5.49% |
| 2023 | +16.9% | +16.36% |
| 2022 | -13.3% | -12.98% |
| 2021 | +11.9% | +11.73% |
| 2020 | — | +0.92% |
| 2019 | — | +15.45% |
| 2018 | — | -17.44% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 26.3% over that stretch · deepest drop along the way 27.9%, back to its old high 16.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.8600 | |
| 2025 | $2.3900 | +1.3% |
| 2024 | $2.3600 | +16.3% |
| 2023 | $2.0300 | +63.3% |
| 2022 | $1.2434 | -27.7% |
| 2021 | $1.7200 |
What's inside
As of Jun 30, 2026, the fund held 203 securities; the ten largest made up 10.4% of assets. It also reported 4.29% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| SINGAPORE AIRLINES LIMITED | 1.33% | |
| THE BANK OF NOVA SCOTIA | 1.18% | |
| THE TORONTO-DOMINION BANK | 1.16% | |
| OVERSEA-CHINESE BANKING CORPORATION LIMITED | 1.11% | |
| NATIONAL BANK OF CANADA | 1.03% | |
| NN Group N.V. | 0.98% | |
| CANADIAN IMPERIAL BANK OF COMMERCE | 0.91% | |
| Investor Aktiebolag | 0.90% | |
| Henkel AG & Co. KGaA | 0.90% | |
| Swedbank AB | 0.88% | |
| POWER CORPORATION OF CANADA | 0.86% | |
| Aktiebolaget Industrivarden | 0.82% | |
| J SAINSBURY PLC | 0.82% | |
| ENGIE SA | 0.80% | |
| JYSKE BANK A/S | 0.79% |
By country
Japan 25.04%Canada 9.36%South Korea 8.81%France 8.51%Germany 7.34%By asset type
Stocks 98.53%Other 0.17%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $815K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.15%, +4.32%, -2.81%.
How it works
UIVM is an index fund from Victory Capital. It follows rules set by Nasdaq, the index provider. The starting pool is the Nasdaq Developed Markets ex United States Large Mid Cap Index, which covers large and mid-sized companies in developed countries outside the US. Each stock gets two scores. The value score measures how cheap the stock is compared with figures such as earnings, book value and operating cash flow. The momentum score tracks how the share price has moved over the past six and 12 months, skipping the latest month and adjusting for volatility. Each stock is scored only against others in its own sector. The two scores count equally, and the top 25% of stocks make it into the index.
Stocks with lower realized volatility (smaller past price swings) get larger weights. To keep any one region from dominating, a region's weight can differ from the starting pool's by no more than 5 percentage points. The index is rebalanced and its holdings are reset every quarter. It had 197 stocks as of September 30, 2026.
The fund doesn't always buy every stock in the index. It may hold a representative sample chosen by statistical optimization, as long as at least 80% of its assets are in index securities. It may also use index futures to manage cash. Portfolio turnover was 96%, which is high and adds trading costs inside the fund.
What it really costs
- UIVM charges 0.35% a year, versus an average of 0.28% for the similar funds below (4th of 4, cheapest first).
- Of that, 0.25% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.03% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $477 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| UIVM | $36 | $119 | $210 | $477 |
In a retirement portfolio
It adds non-US developed-market stocks with a value and momentum tilt, which can balance a portfolio built mostly on US shares.
UIVM could add foreign stocks, many of them banks and other value names, to a portfolio built mostly on US shares. It launched in 2017, so it has no record from 2008. Its worst quarter was the first quarter of 2020, down 25.33%. Its worst calendar year was 2018, down 17.44%. In the 2022 bear market it fell 27.9% from its January 12 peak to its September 30 low. It then took about 17 months to recover, until February 2024. Anyone who had to sell in late 2022 would have locked in that loss. The trailing yield was 4.29% as of October 27, 2026, paid quarterly. Dividends from foreign companies can rise and fall with their payouts and with exchange rates. Under the SEC's standard example, $10,000 would cost $36 in fees over one year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting non-US developed-market stocks with a value and momentum tilt, spread across about 200 names with no holding above 1.4%.
- People wanting quarterly income from foreign stocks; the trailing yield was 4.29% as of October 27, 2026.
- Those comfortable with about 25% in Japan and large stakes in Canadian and Singaporean banks, as of June 30, 2026.
Look elsewhere if
- Cost-focused investors: the 0.35% expense ratio is the highest among the similar funds compared, versus 0.25% for IDMO and 0.27% for DFIV.
- Anyone who wants a record through 2008: the fund launched in October 2017 and lost 25.33% in the first quarter of 2020.
- Those who prefer a larger fund: UIVM held about $323 million as of June 30, 2026, versus about $21.4 billion for DFIV.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Does UIVM pay dividends?
Yes. UIVM pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $3.15 per share, a trailing yield of 4.29%. Much of that income comes from the foreign banks, insurers and other value stocks it holds. Payouts can change from quarter to quarter. They depend on the companies' dividends and on exchange rates, because foreign dividends are converted into US dollars.
What's the difference between UIVM and DFIV?
Both hold value stocks from developed markets outside the US, but they pick and weight them differently. UIVM tracks a Nasdaq index that combines value with momentum and gives steadier stocks more weight. DFIV is Dimensional's international value fund. About 25% of their holdings overlap. DFIV costs 0.27% versus UIVM's 0.35%, and it held about $21.4 billion as of July 31, 2026. One-year returns through late October 2026 were close: 24.8% for DFIV and 24.5% for UIVM.
What is UIVM's expense ratio?
UIVM's expense ratio is 0.35% a year, according to its prospectus filed October 27, 2026. The management fee makes up 0.25% of that. Similar funds average about 0.28%, so UIVM is the most expensive of the four funds compared. Under the SEC's standard example ($10,000 invested, 5% annual return), total costs would be about $36 after one year, $210 after five years and $477 after ten years.
How has UIVM performed over time?
UIVM has had strong recent returns after a weaker start. In its official figures as of December 31, 2025, it returned 44.43% in 2025, 11.5% a year over five years and 6.73% a year since its October 2017 launch. Based on price, it gained 24.5% over the year to October 27, 2026, and about 27.7% a year over three years. It lost 17.44% in 2018 and 12.98% in 2022.
What are UIVM's top holdings and countries?
UIVM's largest holdings as of June 30, 2026, were Singapore Airlines (1.3%), Bank of Nova Scotia (1.2%), Toronto-Dominion Bank (1.2%), Oversea-Chinese Banking Corporation (1.1%) and National Bank of Canada (1.0%). The top 10 made up only 10.4% of assets across 203 holdings. Japan was the largest country at about 25%, followed by Canada (9.4%), South Korea (8.8%), France (8.5%) and Germany (7.3%).