GFLW vs. SPIT

Last updated Jun 4, 2026

GFLW (VictoryShares Free Cash Flow Growth ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. GFLW is passively managed, while SPIT is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. GFLW charges 0.39%/yr vs 0.89%/yr for SPIT.

Performance

GFLW vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Free Cash Flow Growth ETF (GFLW) and F/m Emerald Special Situations ETF (SPIT). 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 SPIT's 25.30% return.

GFLW

• 1D: -0.19%
• 1M: 10.36%
• YTD: 16.55%
• 6M: 15.42%
• 1Y: 29.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPIT

• 1D: -1.85%
• 1M: 3.31%
• YTD: 25.30%
• 6M: 23.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GFLW vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
GFLW VictoryShares Free Cash Flow Growth ETF	16.55%	-1.89%
SPIT F/m Emerald Special Situations ETF	25.30%	5.20%

Correlation

The correlation between GFLW and SPIT is 0.81, 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 Oct 7, 2025	0.81

Return for Risk

GFLW vs. SPIT — Risk / Return Rank

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

GFLW

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

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. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Free Cash Flow Growth ETF (GFLW) and F/m Emerald Special Situations ETF (SPIT). 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.

	GFLW	SPIT	Difference
Sharpe ratio Return per unit of total volatility	1.53	—	—
Sortino ratio Return per unit of downside risk	2.12	—	—
Omega ratio Gain probability vs. loss probability	1.26	—	—
Calmar ratio Return relative to maximum drawdown	1.98	—	—
Martin ratio Return relative to average drawdown	6.72	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GFLW	SPIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	2.00	-1.22

Drawdowns

GFLW vs. SPIT - Drawdown Comparison

The maximum GFLW drawdown since its inception was -24.14%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for GFLW and SPIT.

Drawdown Indicators

	GFLW	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-24.14%	-12.49%	-11.65%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	—	—
Current Drawdown Current decline from peak	-0.19%	-1.85%	+1.66%
Average Drawdown Average peak-to-trough decline	-4.64%	-2.62%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	—	—

Volatility

Volatility by Period

	GFLW	SPIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.30%	26.35%	-7.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.57%	26.35%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	26.35%	-1.78%

GFLW vs. SPIT - Expense Ratio Comparison

GFLW has a 0.39% expense ratio, which is lower than SPIT's 0.89% expense ratio.

Dividends

GFLW vs. SPIT - Dividend Comparison

GFLW's dividend yield for the trailing twelve months is around 0.01%, less than SPIT's 5.73% yield.

Position	TTM	2025	2024
GFLW VictoryShares Free Cash Flow Growth ETF	0.01%	0.02%	0.01%
SPIT F/m Emerald Special Situations ETF	5.73%	7.18%	0.00%

Frequently Asked Questions

Can I hold both GFLW and SPIT in my portfolio?

GFLW and SPIT have a correlation of 0.81, 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 SPIT?

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 SPIT?

GFLW is cheaper with a 0.39% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.73%, compared with 0.01% for GFLW.

What is the main difference between GFLW and SPIT?

They also come from different issuers: Victory and F/m Investments. Their fees differ too: 0.39% for GFLW and 0.89% for SPIT.