FLQL vs. VFMF

Last updated Jun 23, 2026

FLQL (Franklin LibertyQ U.S. Equity ETF) and VFMF (Vanguard U.S. Multifactor ETF) are both exchange-traded funds - FLQL is a Large Cap Growth Equities fund tracking the LibertyQ U.S. Large Cap Equity Index, while VFMF is a Multi-factor fund actively managed by Vanguard. FLQL is passively managed, while VFMF is actively managed. Over the past 5 years, FLQL returned 14.80%/yr vs 14.09%/yr for VFMF. Their correlation of 0.81 suggests significant overlap in exposure. FLQL charges 0.15%/yr vs 0.18%/yr for VFMF.

Performance

FLQL vs. VFMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Equity ETF (FLQL) and Vanguard U.S. Multifactor ETF (VFMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLQL achieves a 12.74% return, which is significantly lower than VFMF's 16.99% return.

FLQL

• 1D: -0.15%
• 1M: 1.08%
• YTD: 12.74%
• 6M: 11.77%
• 1Y: 30.10%
• 3Y*: 22.86%
• 5Y*: 14.80%
• 10Y*: —

VFMF

• 1D: 0.60%
• 1M: 2.90%
• YTD: 16.99%
• 6M: 15.15%
• 1Y: 36.83%
• 3Y*: 22.51%
• 5Y*: 14.09%
• 10Y*: —

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

FLQL vs. VFMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FLQL Franklin LibertyQ U.S. Equity ETF	12.74%	19.64%	24.33%	23.58%	-14.83%	26.58%	10.67%	29.09%	-2.49%
VFMF Vanguard U.S. Multifactor ETF	16.99%	17.38%	15.60%	18.52%	-5.70%	30.05%	4.99%	22.34%	-10.89%

Correlation

The correlation between FLQL and VFMF is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018	0.81

The correlation between FLQL and VFMF has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

FLQL vs. VFMF - Sectors Allocation Comparison

Sectors	FLQL	VFMF
Technology	37.0%	12.7%
Communication Services	11.7%	5.0%
Consumer Cyclical	11.3%	13.6%
Healthcare	10.1%	16.9%
Financial Services	9.6%	24.6%
Industrials	9.5%	9.0%
Consumer Defensive	4.1%	6.8%
Real Estate	2.7%	0.3%
Basic Materials	1.7%	3.4%
Utilities	1.4%	0.2%
Energy	0.9%	7.3%

Return for Risk

FLQL vs. VFMF — Risk / Return Rank

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

FLQL

FLQL Risk / Return Rank: 74
FLQL Sharpe Ratio Rank: 73
FLQL Sortino Ratio Rank: 73
FLQL Omega Ratio Rank: 73
FLQL Calmar Ratio Rank: 68
FLQL Martin Ratio Rank: 81

VFMF

VFMF Risk / Return Rank: 88
VFMF Sharpe Ratio Rank: 88
VFMF Sortino Ratio Rank: 90
VFMF Omega Ratio Rank: 84
VFMF Calmar Ratio Rank: 90
VFMF 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.

FLQL vs. VFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity ETF (FLQL) and Vanguard U.S. Multifactor ETF (VFMF). 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.

	FLQL	VFMF	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.79	-0.54
Sortino ratio: Return per unit of downside risk	3.13	3.96	-0.84
Omega ratio: Gain probability vs. loss probability	1.41	1.49	-0.08
Calmar ratio: Return relative to maximum drawdown	3.34	5.23	-1.89
Martin ratio: Return relative to average drawdown	15.45	19.65	-4.20

FLQL vs. VFMF - Sharpe Ratio Comparison

The current FLQL Sharpe Ratio is 2.26, which is comparable to the VFMF Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of FLQL and VFMF, 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

FLQL vs. VFMF - Drawdown Comparison

The maximum FLQL drawdown since its inception was -33.64%, smaller than the maximum VFMF drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for FLQL and VFMF.

Drawdown Indicators

	FLQL	VFMF	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-41.34%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-7.08%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-19.32%	-20.57%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-21.41%	-20.57%	-0.84%
Current Drawdown Current decline from peak	-0.64%	-0.68%	+0.04%
Average Drawdown Average peak-to-trough decline	-4.03%	-5.71%	+1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.88%	+0.07%

Volatility

FLQL vs. VFMF - Volatility Comparison

Franklin LibertyQ U.S. Equity ETF (FLQL) has a higher volatility of 4.61% compared to Vanguard U.S. Multifactor ETF (VFMF) at 3.55%. This indicates that FLQL's price experiences larger fluctuations and is considered to be riskier than VFMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQL	VFMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	3.55%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	9.30%	+1.57%
Volatility (1Y) Calculated over the trailing 1-year period	13.42%	13.27%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	18.06%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	21.12%	-3.61%

FLQL vs. VFMF - Expense Ratio Comparison

FLQL has a 0.15% expense ratio, which is lower than VFMF's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLQL vs. VFMF - Dividend Comparison

FLQL's dividend yield for the trailing twelve months is around 1.01%, which matches VFMF's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQL Franklin LibertyQ U.S. Equity ETF	1.01%	1.10%	1.13%	1.50%	2.07%	1.81%	1.99%	1.78%	1.82%	1.22%
VFMF Vanguard U.S. Multifactor ETF	1.00%	1.54%	1.60%	1.78%	2.21%	1.39%	1.56%	1.61%	1.22%	0.00%

Frequently Asked Questions

Can I hold both FLQL and VFMF in my portfolio?

FLQL and VFMF have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLQL or VFMF?

FLQL has higher volatility (4.61%) compared to VFMF (3.55%). In terms of maximum drawdown, FLQL dropped -33.64% vs VFMF's -41.34%.

Which ETF is better, FLQL or VFMF?

On 5-year performance, FLQL leads with 14.80% vs 14.09% for VFMF. On fees, FLQL is cheaper at 0.15% per year. On volatility, VFMF has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQL or VFMF?

Over the 5-year period, FLQL has performed better with a 14.80% return vs 14.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQL or VFMF?

FLQL is cheaper with a 0.15% expense ratio, compared with 0.18% for VFMF.

Which ETF pays a higher dividend yield, FLQL or VFMF?

FLQL and VFMF have nearly identical dividend yields, around 1.01%.

What is the main difference between FLQL and VFMF?

FLQL is categorized as Large Cap Growth Equities, while VFMF is Multi-factor. They also come from different issuers: Franklin Templeton and Vanguard. Their fees differ too: 0.15% for FLQL and 0.18% for VFMF.

Which has better risk-adjusted returns?

VFMF currently has the higher Sharpe Ratio (2.79 vs 2.26), 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.