FLQS vs. VBK

Last updated Aug 5, 2026

FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) and VBK (Vanguard Small-Cap Growth ETF) are both Small Cap Growth Equities funds - FLQS tracks the LibertyQ U.S. Small Cap Equity Index while VBK tracks the CRSP US Small Cap Growth Index. Both are passively managed. Over the past 5 years, FLQS returned 7.26%/yr vs 4.90%/yr for VBK. Their 0.79 correlation means they have sometimes moved together and sometimes differently. FLQS charges 0.35%/yr vs 0.05%/yr for VBK.

Performance

FLQS vs. VBK - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FLQS having a 18.29% return and VBK slightly lower at 18.05%.

FLQS

• 1D: 1.19%
• 1M: 3.29%
• 6M: 14.31%
• YTD: 18.29%
• 1Y: 24.91%
• 3Y*: 13.16%
• 5Y*: 7.26%
• 10Y*: —
• ALL TIME*: 9.26%

VBK

• 1D: 2.67%
• 1M: -0.56%
• 6M: 13.39%
• YTD: 18.05%
• 1Y: 26.63%
• 3Y*: 16.05%
• 5Y*: 4.90%
• 10Y*: 11.22%
• ALL TIME*: 9.96%

*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)
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	$113.38K	$113.84K	$151.00K
VBK Vanguard Small-Cap Growth ETF	$71.40M	$71.58M	$83.37M

FLQS vs. VBK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	18.29%	5.04%	8.34%	21.28%	-16.88%	26.58%	10.51%	18.34%	-5.86%	7.41%
VBK Vanguard Small-Cap Growth ETF	18.05%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	12.45%

Correlation

The correlation between FLQS and VBK is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017	0.79

The correlation between FLQS and VBK shifts across timeframes, from 0.68 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.

FLQS vs. VBK - Sectors Allocation Comparison

Sectors	FLQS	VBK
Technology	16.6%	27.1%
Consumer Cyclical	16.0%	8.9%
Healthcare	13.3%	17.9%
Financial Services	13.0%	5.7%
Industrials	12.7%	23.4%
Consumer Defensive	8.3%	2.0%
Real Estate	6.2%	3.7%
Utilities	5.6%	1.1%
Energy	4.7%	3.4%
Basic Materials	2.0%	3.1%
Communication Services	1.7%	3.6%

Return for Risk

FLQS vs. VBK — Risk / Return Rank

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

FLQS

FLQS Risk / Return Rank: 65
FLQS Sharpe Ratio Rank: 63
FLQS Sortino Ratio Rank: 69
FLQS Omega Ratio Rank: 61
FLQS Calmar Ratio Rank: 70
FLQS Martin Ratio Rank: 62

VBK

VBK Risk / Return Rank: 51
VBK Sharpe Ratio Rank: 46
VBK Sortino Ratio Rank: 46
VBK Omega Ratio Rank: 42
VBK Calmar Ratio Rank: 59
VBK Martin Ratio Rank: 59

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.

FLQS vs. VBK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) and Vanguard Small-Cap Growth ETF (VBK). 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.

	FLQS	VBK	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.31	+0.36
Sortino ratio: Return per unit of downside risk	2.54	1.88	+0.66
Omega ratio: Gain probability vs. loss probability	1.30	1.23	+0.07
Calmar ratio: Return relative to maximum drawdown	2.78	2.34	+0.44
Martin ratio: Return relative to average drawdown	8.36	7.88	+0.48

FLQS vs. VBK - Sharpe Ratio Comparison

The current FLQS Sharpe Ratio is 1.67, which is comparable to the VBK Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of FLQS and VBK, 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

FLQS vs. VBK - Drawdown Comparison

The maximum FLQS drawdown since its inception was -42.16%, smaller than the maximum VBK drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for FLQS and VBK.

Drawdown Indicators

	FLQS	VBK	Difference
Max Drawdown Largest peak-to-trough decline	-42.16%	-58.68%	+16.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-11.44%	+2.44%
Max Drawdown (3Y) Largest decline over 3 years	-23.12%	-27.54%	+4.42%
Max Drawdown (5Y) Largest decline over 5 years	-28.05%	-38.39%	+10.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.70%	—
Current Drawdown Current decline from peak	0.00%	-2.69%	+2.69%
Average Drawdown Average peak-to-trough decline	-7.88%	-10.10%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	3.39%	-0.40%

Volatility

FLQS vs. VBK - Volatility Comparison

The current volatility for Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) is 3.84%, while Vanguard Small-Cap Growth ETF (VBK) has a volatility of 6.07%. This indicates that FLQS experiences smaller price fluctuations and is considered to be less risky than VBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQS	VBK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	6.07%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	16.09%	-5.76%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	20.51%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.16%	23.70%	-4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.55%	22.93%	-1.38%

FLQS vs. VBK - Expense Ratio Comparison

FLQS has a 0.35% expense ratio, which is higher than VBK's 0.05% expense ratio.

Dividends

FLQS vs. VBK - Dividend Comparison

FLQS's dividend yield for the trailing twelve months is around 1.29%, more than VBK's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	1.29%	1.16%	1.29%	1.75%	1.40%	0.95%	1.20%	1.41%	1.27%	1.02%	0.00%	0.00%
VBK Vanguard Small-Cap Growth ETF	0.43%	0.54%	0.54%	0.68%	0.55%	0.36%	0.44%	0.57%	0.79%	0.82%	1.08%	0.98%

Frequently Asked Questions

Can I hold both FLQS and VBK in my portfolio?

FLQS and VBK have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLQS or VBK?

VBK has higher volatility (6.07%) compared to FLQS (3.84%). In terms of maximum drawdown, FLQS dropped -42.16% vs VBK's -58.68%.

Which ETF is better, FLQS or VBK?

On 5-year performance, FLQS leads with 7.26% vs 4.90% for VBK. On fees, VBK is cheaper at 0.05% per year. On volatility, FLQS has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQS or VBK?

Over the 5-year period, FLQS has performed better with a 7.26% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQS or VBK?

VBK is cheaper with a 0.05% expense ratio, compared with 0.35% for FLQS.

Which ETF pays a higher dividend yield, FLQS or VBK?

FLQS has the higher dividend yield at 1.29%, compared with 0.43% for VBK.

What is the main difference between FLQS and VBK?

FLQS tracks LibertyQ U.S. Small Cap Equity Index, while VBK tracks CRSP US Small Cap Growth Index. They also come from different issuers: Franklin Templeton and Vanguard. Their fees differ too: 0.35% for FLQS and 0.05% for VBK.

Which has better risk-adjusted returns?

FLQS currently has the higher Sharpe Ratio (1.67 vs 1.31), 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.