FFLC vs. VFLO

Last updated Jul 12, 2026

FFLC (Fidelity Fundamental Large Cap Core ETF) and VFLO (VictoryShares Free Cash Flow ETF) are both exchange-traded funds - FFLC is a Large Cap Blend Equities fund actively managed by Fidelity, while VFLO is a Large Cap Value Equities fund tracking the Victory U.S. Large Cap Free Cash Flow Index. FFLC is actively managed, while VFLO is passively managed. Over the past 3 years, FFLC returned 22.23%/yr vs 24.24%/yr for VFLO. A 0.62 correlation means they provide meaningful diversification when combined. FFLC charges 0.38%/yr vs 0.39%/yr for VFLO.

Performance

FFLC vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Large Cap Core ETF (FFLC) 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, FFLC achieves a 11.97% return, which is significantly lower than VFLO's 20.81% return.

FFLC

• 1D: 0.52%
• 1M: 3.17%
• 6M: 9.69%
• YTD: 11.97%
• 1Y: 22.14%
• 3Y*: 22.23%
• 5Y*: 16.69%
• 10Y*: —

VFLO

• 1D: 0.13%
• 1M: 3.37%
• 6M: 17.68%
• YTD: 20.81%
• 1Y: 34.02%
• 3Y*: 24.24%
• 5Y*: —
• 10Y*: —

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

FFLC vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFLC Fidelity Fundamental Large Cap Core ETF	11.97%	17.67%	27.89%	10.67%
VFLO VictoryShares Free Cash Flow ETF	20.81%	17.51%	21.83%	15.05%

Correlation

The correlation between FFLC and VFLO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.62

The correlation between FFLC and VFLO shifts across timeframes, from 0.49 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

FFLC vs. VFLO - Sectors Allocation Comparison

Sectors	FFLC	VFLO
Technology	31.3%	44.4%
Financial Services	13.5%	0.0%
Communication Services	11.1%	4.2%
Industrials	10.7%	3.6%
Consumer Cyclical	9.7%	15.9%
Healthcare	8.7%	17.9%
Consumer Defensive	4.7%	0.0%
Energy	4.0%	8.6%
Utilities	2.7%	1.3%
Basic Materials	2.0%	4.1%
Real Estate	1.1%	0.0%

Return for Risk

FFLC vs. VFLO — Risk / Return Rank

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

FFLC

FFLC Risk / Return Rank: 60
FFLC Sharpe Ratio Rank: 60
FFLC Sortino Ratio Rank: 58
FFLC Omega Ratio Rank: 59
FFLC Calmar Ratio Rank: 55
FFLC Martin Ratio Rank: 66

VFLO

VFLO Risk / Return Rank: 86
VFLO Sharpe Ratio Rank: 83
VFLO Sortino Ratio Rank: 84
VFLO Omega Ratio Rank: 80
VFLO Calmar Ratio Rank: 93
VFLO Martin Ratio Rank: 90

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.

FFLC vs. VFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Large Cap Core ETF (FFLC) 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.

	FFLC	VFLO	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.11	-0.50
Sortino ratio: Return per unit of downside risk	2.24	3.02	-0.78
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	2.19	5.12	-2.94
Martin ratio: Return relative to average drawdown	9.63	15.86	-6.23

FFLC vs. VFLO - Sharpe Ratio Comparison

The current FFLC Sharpe Ratio is 1.61, which is comparable to the VFLO Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of FFLC 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

FFLC vs. VFLO - Drawdown Comparison

The maximum FFLC drawdown since its inception was -19.72%, which is greater than VFLO's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for FFLC and VFLO.

Drawdown Indicators

	FFLC	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-17.79%	-1.93%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-6.44%	-3.54%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-17.79%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	—	—
Current Drawdown Current decline from peak	0.00%	-1.49%	+1.49%
Average Drawdown Average peak-to-trough decline	-2.96%	-2.47%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.11%	+0.15%

Volatility

FFLC vs. VFLO - Volatility Comparison

Fidelity Fundamental Large Cap Core ETF (FFLC) and VictoryShares Free Cash Flow ETF (VFLO) have volatilities of 4.86% and 4.94%, 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

	FFLC	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	4.94%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	12.06%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	15.65%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	16.01%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	16.01%	+1.63%

FFLC vs. VFLO - Expense Ratio Comparison

FFLC has a 0.38% expense ratio, which is lower than VFLO's 0.39% expense ratio.

Dividends

FFLC vs. VFLO - Dividend Comparison

FFLC's dividend yield for the trailing twelve months is around 0.98%, less than VFLO's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FFLC Fidelity Fundamental Large Cap Core ETF	0.98%	1.10%	0.82%	0.57%	1.67%	1.68%	0.89%
VFLO VictoryShares Free Cash Flow ETF	1.13%	1.60%	1.20%	0.71%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFLC and VFLO in my portfolio?

FFLC and VFLO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLC or VFLO?

VFLO has higher volatility (4.94%) compared to FFLC (4.86%). In terms of maximum drawdown, FFLC dropped -19.72% vs VFLO's -17.79%.

Which ETF is better, FFLC or VFLO?

On 3-year performance, VFLO leads with 24.24% vs 22.23% for FFLC. On fees, FFLC is cheaper at 0.38% 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, FFLC or VFLO?

Over the 3-year period, VFLO has performed better with a 24.24% return vs 22.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLC or VFLO?

FFLC is cheaper with a 0.38% expense ratio, compared with 0.39% for VFLO.

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

VFLO has the higher dividend yield at 1.13%, compared with 0.98% for FFLC.

What is the main difference between FFLC and VFLO?

FFLC is categorized as Large Cap Blend Equities, while VFLO is Large Cap Value Equities. They also come from different issuers: Fidelity and Victory. Their fees differ too: 0.38% for FFLC and 0.39% for VFLO.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (2.11 vs 1.61), 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.