CSB vs. FLQS

Last updated Aug 2, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) are both exchange-traded funds - CSB is a Small Cap Blend Equities fund tracking the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while FLQS is a Small Cap Growth Equities fund tracking the LibertyQ U.S. Small Cap Equity Index. Both are passively managed. Over the past 5 years, CSB returned 6.13%/yr vs 6.79%/yr for FLQS. Their correlation of 0.83 means they have usually moved in the same direction. Both charge a 0.35% expense ratio.

Performance

CSB vs. FLQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CSB having a 15.23% return and FLQS slightly lower at 15.12%.

CSB

• 1D: -0.53%
• 1M: 1.25%
• 6M: 8.88%
• YTD: 15.23%
• 1Y: 24.42%
• 3Y*: 11.11%
• 5Y*: 6.13%
• 10Y*: 10.15%
• ALL TIME*: 9.76%

FLQS

• 1D: -0.31%
• 1M: 0.53%
• 6M: 11.66%
• YTD: 15.12%
• 1Y: 23.66%
• 3Y*: 11.90%
• 5Y*: 6.79%
• 10Y*: —
• ALL TIME*: 8.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	$947.81K	$1.11M	$636.51K
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	$106.78K	$111.39K	$163.90K

CSB vs. FLQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	15.23%	2.26%	9.64%	12.60%	-13.11%	27.04%	11.30%	21.12%	-7.10%	10.36%
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	15.12%	5.04%	8.34%	21.28%	-16.88%	26.58%	10.51%	18.34%	-5.86%	7.41%

Correlation

The correlation between CSB and FLQS is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017	0.83

The correlation between CSB and FLQS has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

CSB vs. FLQS - Sectors Allocation Comparison

Sectors	CSB	FLQS
Financial Services	27.5%	13.0%
Utilities	21.3%	5.6%
Consumer Cyclical	20.0%	16.0%
Energy	9.9%	4.7%
Industrials	8.5%	12.7%
Consumer Defensive	4.0%	8.3%
Communication Services	3.8%	1.7%
Basic Materials	3.7%	2.0%
Technology	1.3%	16.6%
Healthcare	0.4%	13.3%
Real Estate	-	6.2%

Return for Risk

CSB vs. FLQS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CSB

CSB Risk / Return Rank: 75
CSB Sharpe Ratio Rank: 72
CSB Sortino Ratio Rank: 77
CSB Omega Ratio Rank: 69
CSB Calmar Ratio Rank: 84
CSB Martin Ratio Rank: 75

FLQS

FLQS Risk / Return Rank: 65
FLQS Sharpe Ratio Rank: 63
FLQS Sortino Ratio Rank: 70
FLQS Omega Ratio Rank: 61
FLQS Calmar Ratio Rank: 71
FLQS Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CSB vs. FLQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CSB	FLQS	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.48	+0.16
Sortino ratio: Return per unit of downside risk	2.48	2.28	+0.20
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	3.16	2.47	+0.69
Martin ratio: Return relative to average drawdown	9.49	7.42	+2.07

CSB vs. FLQS - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.63, which is comparable to the FLQS Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of CSB and FLQS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CSB vs. FLQS - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, roughly equal to the maximum FLQS drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for CSB and FLQS.

Drawdown Indicators

	CSB	FLQS	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-42.16%	+0.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-9.00%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-21.82%	-23.12%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-24.49%	-28.05%	+3.56%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	—	—
Current Drawdown Current decline from peak	-1.96%	-1.28%	-0.68%
Average Drawdown Average peak-to-trough decline	-7.05%	-7.88%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.99%	-0.60%

Volatility

CSB vs. FLQS - Volatility Comparison

VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) has a higher volatility of 3.59% compared to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) at 3.37%. This indicates that CSB's price experiences larger fluctuations and is considered to be riskier than FLQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSB	FLQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.37%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	10.25%	-1.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	15.05%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.59%	19.14%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.25%	21.55%	-0.30%

CSB vs. FLQS - Expense Ratio Comparison

Both CSB and FLQS have an expense ratio of 0.35%.

Dividends

CSB vs. FLQS - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.12%, more than FLQS's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF	3.12%	3.54%	3.12%	3.45%	3.60%	3.11%	3.70%	3.19%	3.45%	3.19%	2.85%	1.57%
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	1.33%	1.16%	1.29%	1.75%	1.40%	0.95%	1.20%	1.41%	1.27%	1.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSB and FLQS in my portfolio?

CSB and FLQS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSB or FLQS?

CSB has higher volatility (3.59%) compared to FLQS (3.37%). In terms of maximum drawdown, CSB dropped -42.07% vs FLQS's -42.16%.

Which ETF is better, CSB or FLQS?

On 5-year performance, FLQS leads with 6.79% vs 6.13% for CSB. Both ETFs have the same 0.35% expense ratio. On volatility, FLQS has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSB or FLQS?

Over the 5-year period, FLQS has performed better with a 6.79% return vs 6.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSB or FLQS?

CSB and FLQS have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, CSB or FLQS?

CSB has the higher dividend yield at 3.12%, compared with 1.33% for FLQS.

What is the main difference between CSB and FLQS?

CSB is categorized as Small Cap Blend Equities, while FLQS is Small Cap Growth Equities. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while FLQS tracks LibertyQ U.S. Small Cap Equity Index. They also come from different issuers: Crestview and Franklin Templeton.

Which has better risk-adjusted returns?

CSB currently has the higher Sharpe Ratio (1.63 vs 1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.