VCR(VCR)
AI Look-Through Summary
AI GeneratedThe VCR ETF presents a highly concentrated equity profile dominated by the Consumer Cyclical sector, which accounts for over 82% of its total assets. This extreme tilt is driven primarily by significant weightings in Amazon and Tesla, two mega-cap technology and automotive leaders that collectively represent nearly 40% of the fund's portfolio. Such heavy reliance on these specific names creates a direct correlation between the ETF's performance and the operational successes or regulatory headwinds facing these particular companies, effectively functioning as a leveraged proxy for their combined market movements rather than providing broad sector diversification within consumer discretionary goods.
Beyond the top two positions, the remaining holdings consist of established retail giants like Home Depot and McDonald's alongside travel services provider Booking Holdings, all categorized under Consumer Cyclical despite varying business models. The fund exhibits negligible exposure to other economic drivers, with technology, industrials, defensive sectors, and real estate contributing less than 2% combined. This structural lack of diversification outside the consumer cycle means that macroeconomic factors influencing discretionary spending will have a magnified impact on the overall portfolio value compared to more balanced funds.
With assets under management exceeding $6 billion, the fund possesses substantial liquidity but maintains an investment strategy focused almost exclusively on large-cap consumer names rather than small or mid-cap opportunities. The sheer dominance of Amazon and Tesla suggests that any volatility in these specific equities will disproportionately dictate daily NAV fluctuations for holders. Investors seeking exposure to this concentrated view of major retail and tech leaders may find the fund aligns with their thesis, while those preferring sector breadth would likely encounter significant overlap risks given the singular focus on one industry classification despite holding diverse business types within it.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-21 11:27:37.112978+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment theme implied by the ticker VCR, often associated with discretionary consumer spending or retail exposure, demonstrates a high degree of alignment with its actual portfolio composition. The top holdings are overwhelmingly concentrated within the Consumer Cyclical sector, accounting for over eighty percent of total assets under management. Notable positions in companies like Amazon and Tesla reinforce this focus on goods and services sensitive to economic cycles rather than defensive staples. While the inclusion of Meli (MercadoLibre) introduces a slight variation with an unclassified sector tag, its operational model as a digital commerce platform fits logically within the broader discretionary spending narrative. The portfolio avoids unrelated industries or speculative thematic bets that would dilute this core focus, maintaining a coherent identity centered on consumer demand dynamics across various sub-sectors like retail and automotive services.
Concentration risk remains a defining characteristic of the fund's structure, with the top ten holdings comprising nearly sixty percent of total assets. This heavy weighting in mega-cap stocks suggests that performance will be heavily influenced by the fortunes of a few dominant market players rather than broad-based sector growth within the consumer cycle. The minimal exposure to Technology and Industrials further distinguishes this vehicle from a standard technology or industrial ETF, confirming its specialized nature. However, such concentration means the fund may not offer diversification benefits comparable to an index tracker during periods when these specific leaders underperform relative to their peers. The sector weights remain consistent with the stated theme of discretionary consumption, yet the lack of breadth implies that returns will closely mirror the volatility and growth trajectory of its largest constituents rather than reflecting a wider economic recovery across all consumer segments.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-21 12:12:22.494707+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of this ETF presents an extreme concentration within the Consumer Cyclical category, which accounts for over 82% of total assets. This overwhelming exposure suggests a fundamental investment thesis centered entirely on companies whose revenues fluctuate significantly with economic cycles and consumer discretionary spending power. The near-total absence of positions in Technology, Industrials, Real Estate, and Consumer Defensive sectors indicates an intentional exclusion of defensive hedges or growth drivers often associated with other market segments, effectively isolating the fund's performance to a single macroeconomic driver: consumer demand for non-essential goods and services.
This heavy weighting creates substantial concentration risk, particularly evident in the top five holdings which collectively represent more than 50% of the portfolio. The dominance of Amazon at nearly one-quarter of assets alongside Tesla further amplifies this vulnerability, as these two names alone drive a significant portion of returns or losses. With the top ten positions comprising roughly 60% of the fund's value, idiosyncratic risks related to specific management decisions, product recalls, or regulatory changes affecting just a few large-cap retailers could disproportionately impact overall performance. The minimal diversification across other sectors means that broad market downturns specifically targeting consumer sentiment would likely result in severe drawdowns without any offsetting gains from more stable industries.
Furthermore, the structure implies a pure-play tilt toward growth and momentum factors inherent to retail and e-commerce leaders rather than value or income generation. By holding such a narrow universe of 109 stocks with less than one percent allocated elsewhere, the fund sacrifices broad market representation for intense exposure to specific high-conviction themes within consumer spending. This approach offers investors direct access to the volatility and potential upside of cyclical retail trends but removes any buffer against sector-specific headwinds that might plague non-cyclical industries during economic contractions.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 17:49:09.805947+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VCR's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of VCR's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SPTMSPTM | $12B | — | 193 | 94.7% |
| ONEOONEO | $25M | — | 105 | 87.6% |
| QUSQUS | $1B | — | 49 | 80.5% |
| ESGVESGV | $11B | — | 53 | 80.4% |
| SPYState Street SPDR S&P 500 ETF Trust | $640B | 0.09% | 48 | 78.9% |
95% of VCR's portfolio by weight is also held by SPTM, which commands 2× more assets under management. When SPTM receives inflows, it mechanically buys these shared stocks — dragging VCR's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVCR's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 87% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside VCR collectively pay out 70% of their Free Cash Flow to maintain the current yield. This is a sustainable payout level with moderate room for dividend growth. Based on 34% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryVCR is up 10.6% over the last 12 months. The underlying weighted earnings growth of its constituents is -3.6%. The remaining +14.2% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 94% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of VCR's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of VCR's analyzed weight, 68% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 32% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 85% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
CRITICALAMZN at 24.4% has captured VCR's portfolio. The top 3 holdings (45%) dominate the fund's variance — the remaining 47 stocks provide minimal diversification.VCR effectively behaves like a 11-stock portfolio, not a 50-stock one.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
VCR has a Passive Crowding Score of 36/100. On average, 10.9% of the market capitalization of VCR's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 49 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc. Consumer Cyclical | 24.35% | 31.7x | 6/9 |
| 2 | TSLA | Tesla Inc. Consumer Cyclical | 15.81% | 399.8x | 5/9 |
| 3 | HD | Home Depot Inc. Consumer Cyclical | 4.83% | 22.5x | 4/9 |
| 4 | MCD | McDonald's Corp. Consumer Cyclical | 3.11% | 23.0x | 6/9 |
| 5 | TJX | TJX Cos. Inc. Consumer Cyclical | 2.60% | 30.1x | 7/9 |
| 6 | BKNG | Booking Holdings Inc. Consumer Cyclical | 2.03% | 22.1x | 5/9 |
| 7 | LOW | Lowe's Cos. Inc. Consumer Cyclical | 2.01% | 18.1x | 5/9 |
| 8 | SBUX | Starbucks Corp. Consumer Cyclical | 1.80% | 75.7x | 5/9 |
| 9 | ORLY | O'Reilly Automotive Inc. Consumer Cyclical | 1.28% | 28.3x | 7/9 |
| 10 | MAR | Marriott International Inc./MD Class A Consumer Cyclical | 1.26% | 39.4x | 7/9 |
| 11 | MELI | MercadoLibre Inc. | 1.24% | 44.8x | 4/9 |
| 12 | HLT | Hilton Worldwide Holdings Inc. Consumer Cyclical | 1.15% | 50.0x | 5/9 |
| 13 | ROST | Ross Stores Inc. Consumer Cyclical | 1.13% | 32.4x | — |
| 14 | GM | General Motors Co. Consumer Cyclical | 1.10% | 30.4x | 5/9 |
| 15 | RCL | Royal Caribbean Cruises Ltd. Consumer Cyclical | 1.05% | 17.4x | 7/9 |
Historical Holdings Snapshots
Browse how VCR’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 64.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AMZN | 24.35% | 6,190,362 | $1.6B |
| 2 | TSLA | 15.81% | 2,791,101 | $1.1B |
| 3 | HD | 4.83% | 989,744 | $325.4M |
| 4 | MCD | 3.11% | 712,692 | $209.2M |
| 5 | TJX | 2.60% | 1,115,753 | $174.9M |
| 6 | BKNG | 2.03% | 813,178 | $136.9M |
| 7 | LOW | 2.01% | 565,941 | $135.1M |
| 8 | SBUX | 1.80% | 1,154,601 | $121.6M |
| 9 | ORLY | 1.28% | 868,754 | $86.4M |
| 10 | MAR | 1.26% | 234,099 | $84.7M |
| 11 | MELI | 1.24% | 46,784 | $83.9M |
| 12 | HLT | 1.15% | 239,305 | $77.6M |
| 13 | ROST | 1.13% | 334,429 | $76.2M |
| 14 | GM | 1.10% | 961,938 | $74.0M |
| 15 | RCL | 1.05% | 267,414 | $70.5M |
2026-05-23
15 holdings · 64.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AMZN | 24.35% | 6,190,362 | $1.6B |
| 2 | TSLA | 15.81% | 2,791,101 | $1.1B |
| 3 | HD | 4.83% | 989,744 | $325.4M |
| 4 | MCD | 3.11% | 712,692 | $209.2M |
| 5 | TJX | 2.60% | 1,115,753 | $174.9M |
| 6 | BKNG | 2.03% | 813,178 | $136.9M |
| 7 | LOW | 2.01% | 565,941 | $135.1M |
| 8 | SBUX | 1.80% | 1,154,601 | $121.6M |
| 9 | ORLY | 1.28% | 868,754 | $86.4M |
| 10 | MAR | 1.26% | 234,099 | $84.7M |
| 11 | MELI | 1.24% | 46,784 | $83.9M |
| 12 | HLT | 1.15% | 239,305 | $77.6M |
| 13 | ROST | 1.13% | 334,429 | $76.2M |
| 14 | GM | 1.10% | 961,938 | $74.0M |
| 15 | RCL | 1.05% | 267,414 | $70.5M |
2026-05-22
15 holdings · 64.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AMZN | 24.35% | 6,190,362 | $1.6B |
| 2 | TSLA | 15.81% | 2,791,101 | $1.1B |
| 3 | HD | 4.83% | 989,744 | $325.4M |
| 4 | MCD | 3.11% | 712,692 | $209.2M |
| 5 | TJX | 2.60% | 1,115,753 | $174.9M |
| 6 | BKNG | 2.03% | 813,178 | $136.9M |
| 7 | LOW | 2.01% | 565,941 | $135.1M |
| 8 | SBUX | 1.80% | 1,154,601 | $121.6M |
| 9 | ORLY | 1.28% | 868,754 | $86.4M |
| 10 | MAR | 1.26% | 234,099 | $84.7M |
| 11 | MELI | 1.24% | 46,784 | $83.9M |
| 12 | HLT | 1.15% | 239,305 | $77.6M |
| 13 | ROST | 1.13% | 334,429 | $76.2M |
| 14 | GM | 1.10% | 961,938 | $74.0M |
| 15 | RCL | 1.05% | 267,414 | $70.5M |
2026-05-21
15 holdings · 64.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AMZN | 24.35% | 6,190,362 | $1.6B |
| 2 | TSLA | 15.81% | 2,791,101 | $1.1B |
| 3 | HD | 4.83% | 989,744 | $325.4M |
| 4 | MCD | 3.11% | 712,692 | $209.2M |
| 5 | TJX | 2.60% | 1,115,753 | $174.9M |
| 6 | BKNG | 2.03% | 813,178 | $136.9M |
| 7 | LOW | 2.01% | 565,941 | $135.1M |
| 8 | SBUX | 1.80% | 1,154,601 | $121.6M |
| 9 | ORLY | 1.28% | 868,754 | $86.4M |
| 10 | MAR | 1.26% | 234,099 | $84.7M |
| 11 | MELI | 1.24% | 46,784 | $83.9M |
| 12 | HLT | 1.15% | 239,305 | $77.6M |
| 13 | ROST | 1.13% | 334,429 | $76.2M |
| 14 | GM | 1.10% | 961,938 | $74.0M |
| 15 | RCL | 1.05% | 267,414 | $70.5M |
2026-05-20
15 holdings · 64.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AMZN | 24.35% | 6,190,362 | $1.6B |
| 2 | TSLA | 15.81% | 2,791,101 | $1.1B |
| 3 | HD | 4.83% | 989,744 | $325.4M |
| 4 | MCD | 3.11% | 712,692 | $209.2M |
| 5 | TJX | 2.60% | 1,115,753 | $174.9M |
| 6 | BKNG | 2.03% | 813,178 | $136.9M |
| 7 | LOW | 2.01% | 565,941 | $135.1M |
| 8 | SBUX | 1.80% | 1,154,601 | $121.6M |
| 9 | ORLY | 1.28% | 868,754 | $86.4M |
| 10 | MAR | 1.26% | 234,099 | $84.7M |
| 11 | MELI | 1.24% | 46,784 | $83.9M |
| 12 | HLT | 1.15% | 239,305 | $77.6M |
| 13 | ROST | 1.13% | 334,429 | $76.2M |
| 14 | GM | 1.10% | 961,938 | $74.0M |
| 15 | RCL | 1.05% | 267,414 | $70.5M |
2026-05-19
15 holdings · 64.8% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | AMZN | 24.35% | 6,190,362 | $1.6B |
| 2 | TSLA | 15.81% | 2,791,101 | $1.1B |
| 3 | HD | 4.83% | 989,744 | $325.4M |
| 4 | MCD | 3.11% | 712,692 | $209.2M |
| 5 | TJX | 2.60% | 1,115,753 | $174.9M |
| 6 | BKNG | 2.03% | 813,178 | $136.9M |
| 7 | LOW | 2.01% | 565,941 | $135.1M |
| 8 | SBUX | 1.80% | 1,154,601 | $121.6M |
| 9 | ORLY | 1.28% | 868,754 | $86.4M |
| 10 | MAR | 1.26% | 234,099 | $84.7M |
| 11 | MELI | 1.24% | 46,784 | $83.9M |
| 12 | HLT | 1.15% | 239,305 | $77.6M |
| 13 | ROST | 1.13% | 334,429 | $76.2M |
| 14 | GM | 1.10% | 961,938 | $74.0M |
| 15 | RCL | 1.05% | 267,414 | $70.5M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove VCR Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How VCR’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.