FEDM vs. IFLO

Last updated Jul 18, 2026

FEDM (FlexShares ESG & Climate Developed Markets ex-US Core Index Fund) and IFLO (VictoryShares International Free Cash Flow ETF) are both Foreign Large Cap Equities funds. Over the past year, FEDM returned 18.40% vs 33.15% for IFLO. A 0.78 correlation means they provide meaningful diversification when combined. FEDM charges 0.12%/yr vs 0.56%/yr for IFLO.

Performance

FEDM vs. IFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) and VictoryShares International Free Cash Flow ETF (IFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEDM achieves a 8.23% return, which is significantly lower than IFLO's 18.73% return.

FEDM

• 1D: -0.19%
• 1M: 1.31%
• 6M: 5.29%
• YTD: 8.23%
• 1Y: 18.40%
• 3Y*: 13.34%
• 5Y*: —
• 10Y*: —

IFLO

• 1D: 0.10%
• 1M: -0.54%
• 6M: 15.77%
• YTD: 18.73%
• 1Y: 33.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEDM vs. IFLO - Yearly Performance Comparison

	2026 (YTD)	2025
FEDM FlexShares ESG & Climate Developed Markets ex-US Core Index Fund	8.23%	10.32%
IFLO VictoryShares International Free Cash Flow ETF	18.73%	13.12%

Correlation

The correlation between FEDM and IFLO is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.78

The correlation between FEDM and IFLO has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

FEDM vs. IFLO - Sectors Allocation Comparison

Sectors	FEDM	IFLO
Financial Services	27.0%	1.1%
Industrials	17.3%	18.1%
Technology	11.9%	21.5%
Healthcare	9.8%	11.7%
Consumer Defensive	6.9%	2.8%
Basic Materials	6.0%	11.3%
Consumer Cyclical	5.8%	13.8%
Energy	5.4%	12.1%
Communication Services	5.0%	6.7%
Utilities	3.3%	1.0%
Real Estate	1.7%	0.0%

Return for Risk

FEDM vs. IFLO — Risk / Return Rank

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

FEDM

FEDM Risk / Return Rank: 40
FEDM Sharpe Ratio Rank: 39
FEDM Sortino Ratio Rank: 40
FEDM Omega Ratio Rank: 38
FEDM Calmar Ratio Rank: 37
FEDM Martin Ratio Rank: 43

IFLO

IFLO Risk / Return Rank: 90
IFLO Sharpe Ratio Rank: 89
IFLO Sortino Ratio Rank: 90
IFLO Omega Ratio Rank: 87
IFLO Calmar Ratio Rank: 94
IFLO Martin Ratio Rank: 92

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.

FEDM vs. IFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) and VictoryShares International Free Cash Flow ETF (IFLO). 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.

	FEDM	IFLO	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.29	-1.17
Sortino ratio: Return per unit of downside risk	1.68	3.33	-1.64
Omega ratio: Gain probability vs. loss probability	1.21	1.41	-0.20
Calmar ratio: Return relative to maximum drawdown	1.55	5.17	-3.62
Martin ratio: Return relative to average drawdown	5.56	17.35	-11.79

FEDM vs. IFLO - Sharpe Ratio Comparison

The current FEDM Sharpe Ratio is 1.12, which is lower than the IFLO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of FEDM and IFLO, 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

FEDM vs. IFLO - Drawdown Comparison

The maximum FEDM drawdown since its inception was -29.37%, which is greater than IFLO's maximum drawdown of -6.44%. Use the drawdown chart below to compare losses from any high point for FEDM and IFLO.

Drawdown Indicators

	FEDM	IFLO	Difference
Max Drawdown Largest peak-to-trough decline	-29.37%	-6.44%	-22.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-6.44%	-5.48%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	—	—
Current Drawdown Current decline from peak	-0.73%	-1.89%	+1.16%
Average Drawdown Average peak-to-trough decline	-6.85%	-1.30%	-5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	1.92%	+1.40%

Volatility

FEDM vs. IFLO - Volatility Comparison

FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) and VictoryShares International Free Cash Flow ETF (IFLO) have volatilities of 3.25% and 3.18%, 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

	FEDM	IFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	3.18%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	12.01%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	16.46%	14.55%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.41%	14.51%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.41%	14.51%	+1.90%

FEDM vs. IFLO - Expense Ratio Comparison

FEDM has a 0.12% expense ratio, which is lower than IFLO's 0.56% expense ratio.

Dividends

FEDM vs. IFLO - Dividend Comparison

FEDM's dividend yield for the trailing twelve months is around 2.95%, more than IFLO's 1.57% yield.

Position	TTM	2025	2024	2023	2022	2021
FEDM FlexShares ESG & Climate Developed Markets ex-US Core Index Fund	2.95%	2.97%	2.94%	2.61%	2.53%	0.62%
IFLO VictoryShares International Free Cash Flow ETF	1.57%	0.73%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEDM and IFLO in my portfolio?

FEDM and IFLO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEDM or IFLO?

FEDM has higher volatility (3.25%) compared to IFLO (3.18%). In terms of maximum drawdown, FEDM dropped -29.37% vs IFLO's -6.44%.

Which ETF is better, FEDM or IFLO?

On 1-year performance, IFLO leads with 33.15% vs 18.40% for FEDM. On fees, FEDM is cheaper at 0.12% per year. 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, FEDM or IFLO?

Over the 1-year period, IFLO has performed better with a 33.15% return vs 18.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEDM or IFLO?

FEDM is cheaper with a 0.12% expense ratio, compared with 0.56% for IFLO.

Which ETF pays a higher dividend yield, FEDM or IFLO?

FEDM has the higher dividend yield at 2.95%, compared with 1.57% for IFLO.

What is the main difference between FEDM and IFLO?

They also come from different issuers: FlexShares and VictoryShares. Their fees differ too: 0.12% for FEDM and 0.56% for IFLO.

Which has better risk-adjusted returns?

IFLO currently has the higher Sharpe Ratio (2.29 vs 1.12), 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.