DCPE vs. VFLO

Last updated Jul 15, 2026

DCPE (DoubleLine Shiller CAPE US Equities ETF) and VFLO (VictoryShares Free Cash Flow ETF) are both Large Cap Value Equities funds - DCPE tracks the Shiller Barclays CAPE US Sector Index while VFLO tracks the Victory U.S. Large Cap Free Cash Flow Index. Both are passively managed. Over the past 3 years, DCPE returned 10.97%/yr vs 24.21%/yr for VFLO. A 0.66 correlation means they provide meaningful diversification when combined. DCPE charges 0.65%/yr vs 0.39%/yr for VFLO.

Performance

DCPE vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Shiller CAPE US Equities ETF (DCPE) and VictoryShares Free Cash Flow ETF (VFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCPE achieves a 1.57% return, which is significantly lower than VFLO's 20.99% return.

DCPE

• 1D: -0.28%
• 1M: 0.07%
• 6M: 0.35%
• YTD: 1.57%
• 1Y: 3.39%
• 3Y*: 10.97%
• 5Y*: —
• 10Y*: —

VFLO

• 1D: -0.79%
• 1M: 2.58%
• 6M: 18.70%
• YTD: 20.99%
• 1Y: 34.44%
• 3Y*: 24.21%
• 5Y*: —
• 10Y*: —

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

DCPE vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DCPE DoubleLine Shiller CAPE US Equities ETF	1.57%	9.10%	14.40%	12.03%
VFLO VictoryShares Free Cash Flow ETF	20.99%	17.51%	21.83%	15.05%

Correlation

The correlation between DCPE and VFLO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.66

The correlation between DCPE and VFLO has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

Return for Risk

DCPE vs. VFLO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DCPE

DCPE Risk / Return Rank: 14
DCPE Sharpe Ratio Rank: 15
DCPE Sortino Ratio Rank: 13
DCPE Omega Ratio Rank: 13
DCPE Calmar Ratio Rank: 14
DCPE Martin Ratio Rank: 17

VFLO

VFLO Risk / Return Rank: 88
VFLO Sharpe Ratio Rank: 87
VFLO Sortino Ratio Rank: 87
VFLO Omega Ratio Rank: 83
VFLO Calmar Ratio Rank: 94
VFLO Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DCPE vs. VFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Shiller CAPE US Equities ETF (DCPE) and VictoryShares Free Cash Flow ETF (VFLO). 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.

	DCPE	VFLO	Difference
Sharpe ratio: Return per unit of total volatility	0.30	2.21	-1.91
Sortino ratio: Return per unit of downside risk	0.51	3.14	-2.63
Omega ratio: Gain probability vs. loss probability	1.06	1.39	-0.33
Calmar ratio: Return relative to maximum drawdown	0.35	5.37	-5.02
Martin ratio: Return relative to average drawdown	1.24	16.75	-15.51

DCPE vs. VFLO - Sharpe Ratio Comparison

The current DCPE Sharpe Ratio is 0.30, which is lower than the VFLO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of DCPE and VFLO, 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

DCPE vs. VFLO - Drawdown Comparison

The maximum DCPE drawdown since its inception was -22.07%, which is greater than VFLO's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for DCPE and VFLO.

Drawdown Indicators

	DCPE	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-22.07%	-17.79%	-4.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-6.44%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	-17.79%	+3.47%
Current Drawdown Current decline from peak	-1.87%	-1.34%	-0.53%
Average Drawdown Average peak-to-trough decline	-4.85%	-2.46%	-2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.08%	+0.67%

Volatility

DCPE vs. VFLO - Volatility Comparison

DoubleLine Shiller CAPE US Equities ETF (DCPE) has a higher volatility of 4.56% compared to VictoryShares Free Cash Flow ETF (VFLO) at 4.29%. This indicates that DCPE's price experiences larger fluctuations and is considered to be riskier than VFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCPE	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	4.29%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.19%	12.11%	-2.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	15.65%	-4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	16.00%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	16.00%	+0.87%

DCPE vs. VFLO - Expense Ratio Comparison

DCPE has a 0.65% expense ratio, which is higher than VFLO's 0.39% expense ratio.

Dividends

DCPE vs. VFLO - Dividend Comparison

DCPE's dividend yield for the trailing twelve months is around 1.38%, more than VFLO's 1.13% yield.

Position	TTM	2025	2024	2023	2022
DCPE DoubleLine Shiller CAPE US Equities ETF	1.38%	1.39%	1.23%	1.01%	0.80%
VFLO VictoryShares Free Cash Flow ETF	1.13%	1.60%	1.20%	0.71%	0.00%

Frequently Asked Questions

Can I hold both DCPE and VFLO in my portfolio?

DCPE and VFLO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCPE or VFLO?

DCPE has higher volatility (4.56%) compared to VFLO (4.29%). In terms of maximum drawdown, DCPE dropped -22.07% vs VFLO's -17.79%.

Which ETF is better, DCPE or VFLO?

On 3-year performance, VFLO leads with 24.21% vs 10.97% for DCPE. On fees, VFLO is cheaper at 0.39% per year. On volatility, VFLO has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCPE or VFLO?

Over the 3-year period, VFLO has performed better with a 24.21% return vs 10.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCPE or VFLO?

VFLO is cheaper with a 0.39% expense ratio, compared with 0.65% for DCPE.

Which ETF pays a higher dividend yield, DCPE or VFLO?

DCPE has the higher dividend yield at 1.38%, compared with 1.13% for VFLO.

What is the main difference between DCPE and VFLO?

DCPE tracks Shiller Barclays CAPE US Sector Index, while VFLO tracks Victory U.S. Large Cap Free Cash Flow Index. They also come from different issuers: DoubleLine and Victory. Their fees differ too: 0.65% for DCPE and 0.39% for VFLO.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (2.21 vs 0.30), 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.