VictoryShares GLOW ETF Faces Performance Challenges VictoryShares WestEnd Global Equity ETF (GLOW) continues to struggle with performance metrics, particularly in its People and Process Pillars. Despite its cost advantages, the ETF's Morningstar Medalist Rating remains negative. Concentration in its top 10 holdings, which make up 95.9% of its portfolio, could be a contributing factor.2