GFLW vs. GARY

Last updated Jul 16, 2026

GFLW (VictoryShares Free Cash Flow Growth ETF) and GARY (Mango Growth ETF) are both Large Cap Growth Equities funds. GFLW is passively managed, while GARY is actively managed. Their correlation of 0.90 suggests significant overlap in exposure. GFLW charges 0.39%/yr vs 0.77%/yr for GARY.

Performance

GFLW vs. GARY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Free Cash Flow Growth ETF (GFLW) and Mango Growth ETF (GARY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GFLW achieves a 16.55% return, which is significantly lower than GARY's 31.13% return.

GFLW

• 1D: -0.81%
• 1M: -1.47%
• 6M: 14.75%
• YTD: 16.55%
• 1Y: 26.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GARY

• 1D: -0.27%
• 1M: -1.58%
• 6M: 25.08%
• YTD: 31.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GFLW vs. GARY - Yearly Performance Comparison

	2026 (YTD)	2025
GFLW VictoryShares Free Cash Flow Growth ETF	16.55%	-1.04%
GARY Mango Growth ETF	31.13%	0.15%

Correlation

The correlation between GFLW and GARY is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 22, 2025	0.90

Return for Risk

GFLW vs. GARY — Risk / Return Rank

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

GFLW

GFLW Risk / Return Rank: 41
GFLW Sharpe Ratio Rank: 42
GFLW Sortino Ratio Rank: 40
GFLW Omega Ratio Rank: 39
GFLW Calmar Ratio Rank: 41
GFLW Martin Ratio Rank: 44

GARY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GFLW vs. GARY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Free Cash Flow Growth ETF (GFLW) and Mango Growth ETF (GARY). 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.

	GFLW	GARY	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.74	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.75	—	—
Martin ratio: Return relative to average drawdown	5.82	—	—

Drawdowns

GFLW vs. GARY - Drawdown Comparison

The maximum GFLW drawdown since its inception was -24.14%, which is greater than GARY's maximum drawdown of -10.28%. Use the drawdown chart below to compare losses from any high point for GFLW and GARY.

Drawdown Indicators

	GFLW	GARY	Difference
Max Drawdown Largest peak-to-trough decline	-24.14%	-10.28%	-13.86%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	—	—
Current Drawdown Current decline from peak	-4.27%	-4.43%	+0.16%
Average Drawdown Average peak-to-trough decline	-4.48%	-1.90%	-2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	—	—

Volatility

Volatility by Period

	GFLW	GARY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.22%	21.72%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.97%	21.72%	+3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.97%	21.72%	+3.25%

GFLW vs. GARY - Expense Ratio Comparison

GFLW has a 0.39% expense ratio, which is lower than GARY's 0.77% expense ratio.

Dividends

GFLW vs. GARY - Dividend Comparison

GFLW has not paid dividends to shareholders, while GARY's dividend yield for the trailing twelve months is around 0.04%.

Position	TTM	2025	2024
GARY Mango Growth ETF	0.04%	0.05%	0.00%
GFLW VictoryShares Free Cash Flow Growth ETF	0.00%	0.02%	0.01%

Frequently Asked Questions

Can I hold both GFLW and GARY in my portfolio?

GFLW and GARY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GFLW or GARY?

On fees, GFLW is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GFLW or GARY?

GFLW is cheaper with a 0.39% expense ratio, compared with 0.77% for GARY.

Which ETF pays a higher dividend yield, GFLW or GARY?

GARY has the higher dividend yield at 0.04%, compared with 0.00% for GFLW.

What is the main difference between GFLW and GARY?

They also come from different issuers: Victory and Mango. Their fees differ too: 0.39% for GFLW and 0.77% for GARY.