DVY vs. VFLO

Last updated Aug 5, 2026

DVY (iShares Select Dividend ETF) and VFLO (VictoryShares Free Cash Flow ETF) are both Large Cap Value Equities funds - DVY tracks the Dow Jones U.S. Select Dividend Index while VFLO tracks the Victory U.S. Large Cap Free Cash Flow Index. Both are passively managed. Over the past 3 years, DVY returned 16.53%/yr vs 25.68%/yr for VFLO. Their 0.69 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.39% expense ratio.

Performance

DVY vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Select Dividend ETF (DVY) 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, DVY achieves a 17.44% return, which is significantly lower than VFLO's 28.74% return.

DVY

• 1D: 0.86%
• 1M: 2.59%
• 6M: 8.58%
• YTD: 17.44%
• 1Y: 24.87%
• 3Y*: 16.53%
• 5Y*: 10.91%
• 10Y*: 10.40%
• ALL TIME*: 9.08%

VFLO

• 1D: 1.00%
• 1M: 7.50%
• 6M: 29.96%
• YTD: 28.74%
• 1Y: 47.50%
• 3Y*: 25.68%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.26%

*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)
DVY iShares Select Dividend ETF	$62.40M	$73.92M	$70.97M
VFLO VictoryShares Free Cash Flow ETF	$92.86M	$75.67M	$53.99M

DVY vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DVY iShares Select Dividend ETF	17.44%	11.60%	16.24%	6.34%
VFLO VictoryShares Free Cash Flow ETF	28.74%	17.51%	21.83%	15.05%

Correlation

The correlation between DVY and VFLO is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.69

The correlation between DVY and VFLO shifts across timeframes, from 0.54 (1 year) to 0.69 (3 years), reflecting how their relationship changes across market environments.

DVY vs. VFLO - Sectors Allocation Comparison

Sectors	DVY	VFLO
Financial Services	26.1%	0.0%
Utilities	24.2%	3.3%
Consumer Defensive	13.5%	0.0%
Consumer Cyclical	10.1%	10.8%
Energy	8.2%	22.6%
Communication Services	5.2%	4.4%
Healthcare	5.2%	21.6%
Technology	3.7%	30.4%
Industrials	2.1%	0.0%
Basic Materials	1.8%	7.0%
Real Estate	-	0.0%

Return for Risk

DVY vs. VFLO — Risk / Return Rank

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

DVY

DVY Risk / Return Rank: 85
DVY Sharpe Ratio Rank: 86
DVY Sortino Ratio Rank: 88
DVY Omega Ratio Rank: 82
DVY Calmar Ratio Rank: 86
DVY Martin Ratio Rank: 84

VFLO

VFLO Risk / Return Rank: 96
VFLO Sharpe Ratio Rank: 96
VFLO Sortino Ratio Rank: 95
VFLO Omega Ratio Rank: 94
VFLO Calmar Ratio Rank: 97
VFLO Martin Ratio Rank: 96

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.

DVY vs. VFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Select Dividend ETF (DVY) 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.

	DVY	VFLO	Difference
Sharpe ratio: Return per unit of total volatility	2.23	3.10	-0.88
Sortino ratio: Return per unit of downside risk	3.27	4.31	-1.03
Omega ratio: Gain probability vs. loss probability	1.38	1.55	-0.17
Calmar ratio: Return relative to maximum drawdown	3.63	7.41	-3.78
Martin ratio: Return relative to average drawdown	12.94	24.89	-11.95

DVY vs. VFLO - Sharpe Ratio Comparison

The current DVY Sharpe Ratio is 2.23, which is comparable to the VFLO Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of DVY 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

DVY vs. VFLO - Drawdown Comparison

The maximum DVY drawdown since its inception was -62.59%, which is greater than VFLO's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for DVY and VFLO.

Drawdown Indicators

	DVY	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-62.59%	-17.79%	-44.80%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-6.44%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-16.00%	-17.79%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	-17.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.59%	—	—
Current Drawdown Current decline from peak	-1.34%	0.00%	-1.34%
Average Drawdown Average peak-to-trough decline	-8.73%	-2.42%	-6.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.91%	+0.02%

Volatility

DVY vs. VFLO - Volatility Comparison

iShares Select Dividend ETF (DVY) and VictoryShares Free Cash Flow ETF (VFLO) have volatilities of 3.89% and 3.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVY	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.89%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.98%	12.15%	-4.17%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	15.40%	-4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	15.97%	-0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	15.97%	+2.06%

DVY vs. VFLO - Expense Ratio Comparison

Both DVY and VFLO have an expense ratio of 0.39%.

Dividends

DVY vs. VFLO - Dividend Comparison

DVY's dividend yield for the trailing twelve months is around 3.22%, more than VFLO's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVY iShares Select Dividend ETF	3.22%	3.65%	3.65%	3.82%	3.43%	3.12%	3.66%	3.41%	3.58%	3.00%	3.04%	3.45%
VFLO VictoryShares Free Cash Flow ETF	1.06%	1.60%	1.20%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVY and VFLO in my portfolio?

DVY and VFLO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVY or VFLO?

VFLO has higher volatility (3.89%) compared to DVY (3.89%). In terms of maximum drawdown, DVY dropped -62.59% vs VFLO's -17.79%.

Which ETF is better, DVY or VFLO?

On 3-year performance, VFLO leads with 25.68% vs 16.53% for DVY. Both ETFs have the same 0.39% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVY or VFLO?

Over the 3-year period, VFLO has performed better with a 25.68% return vs 16.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVY or VFLO?

DVY and VFLO have the same expense ratio: 0.39% per year.

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

DVY has the higher dividend yield at 3.22%, compared with 1.06% for VFLO.

What is the main difference between DVY and VFLO?

DVY tracks Dow Jones U.S. Select Dividend Index, while VFLO tracks Victory U.S. Large Cap Free Cash Flow Index. They also come from different issuers: iShares and Victory.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (3.10 vs 2.23), 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.