GFLW vs. VFLO

Last updated Jun 3, 2026

GFLW (VictoryShares Free Cash Flow Growth ETF) and VFLO (Victoryshares Free Cash Flow ETF) are both exchange-traded funds - GFLW is a Large Cap Growth Equities fund tracking the Victory Free Cash Flow Growth Index, while VFLO is a Large Cap Value Equities fund tracking the Victory U.S. Large Cap Free Cash Flow Index. Both are passively managed. Over the past year, GFLW returned 30.36% vs 38.74% for VFLO. A 0.59 correlation means they provide meaningful diversification when combined. Both charge a 0.39% expense ratio.

Performance

GFLW vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Free Cash Flow Growth ETF (GFLW) 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, GFLW achieves a 16.78% return, which is significantly lower than VFLO's 20.09% return.

GFLW

• 1D: 0.09%
• 1M: 10.78%
• YTD: 16.78%
• 6M: 15.86%
• 1Y: 30.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VFLO

• 1D: -0.44%
• 1M: 10.60%
• YTD: 20.09%
• 6M: 21.04%
• 1Y: 38.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GFLW vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GFLW VictoryShares Free Cash Flow Growth ETF	16.78%	18.40%	-6.12%
VFLO Victoryshares Free Cash Flow ETF	20.09%	17.51%	-6.64%

Correlation

The correlation between GFLW and VFLO is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.59

The correlation between GFLW and VFLO has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.

Return for Risk

GFLW vs. VFLO — 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: 43

VFLO

VFLO Risk / Return Rank: 85
VFLO Sharpe Ratio Rank: 78
VFLO Sortino Ratio Rank: 82
VFLO Omega Ratio Rank: 75
VFLO Calmar Ratio Rank: 94
VFLO Martin Ratio Rank: 92

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. VFLO - Risk-Adjusted Trends Comparison

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

	GFLW	VFLO	Difference
Sharpe ratio Return per unit of total volatility	1.58	2.60	-1.02
Sortino ratio Return per unit of downside risk	2.17	3.76	-1.58
Omega ratio Gain probability vs. loss probability	1.27	1.46	-0.19
Calmar ratio Return relative to maximum drawdown	2.09	7.82	-5.72
Martin ratio Return relative to average drawdown	7.12	23.81	-16.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GFLW vs. VFLO - Sharpe Ratio Comparison

The current GFLW Sharpe Ratio is 1.58, which is lower than the VFLO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of GFLW 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.

Sharpe Ratios by Period

	GFLW	VFLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	2.60	-1.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	1.63	-0.85

Drawdowns

GFLW vs. VFLO - Drawdown Comparison

The maximum GFLW drawdown since its inception was -24.14%, which is greater than VFLO's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for GFLW and VFLO.

Drawdown Indicators

	GFLW	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-24.14%	-17.79%	-6.35%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	-4.98%	-9.97%
Current Drawdown Current decline from peak	0.00%	-2.08%	+2.08%
Average Drawdown Average peak-to-trough decline	-4.65%	-2.42%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	1.63%	+2.76%

Volatility

GFLW vs. VFLO - Volatility Comparison

The current volatility for VictoryShares Free Cash Flow Growth ETF (GFLW) is 5.40%, while Victoryshares Free Cash Flow ETF (VFLO) has a volatility of 6.04%. This indicates that GFLW experiences smaller price fluctuations and is considered to be less risky than VFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GFLW	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	6.04%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	14.97%	11.05%	+3.92%
Volatility (1Y) Calculated over the trailing 1-year period	19.31%	15.02%	+4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.60%	15.93%	+8.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	15.93%	+8.67%

GFLW vs. VFLO - Expense Ratio Comparison

Both GFLW and VFLO have an expense ratio of 0.39%.

Dividends

GFLW vs. VFLO - Dividend Comparison

GFLW's dividend yield for the trailing twelve months is around 0.01%, less than VFLO's 1.19% yield.

Position	TTM	2025	2024	2023
GFLW VictoryShares Free Cash Flow Growth ETF	0.01%	0.02%	0.01%	0.00%
VFLO Victoryshares Free Cash Flow ETF	1.19%	1.60%	1.20%	0.71%

Frequently Asked Questions

Can I hold both GFLW and VFLO in my portfolio?

GFLW and VFLO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GFLW or VFLO?

VFLO has higher volatility (6.04%) compared to GFLW (5.40%). In terms of maximum drawdown, GFLW dropped -24.14% vs VFLO's -17.79%.

Which ETF is better, GFLW or VFLO?

On 1-year performance, VFLO leads with 38.74% vs 30.36% for GFLW. Both ETFs have the same 0.39% expense ratio. On volatility, GFLW has been the lower-risk option at 5.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GFLW or VFLO?

Over the 1-year period, VFLO has performed better with a 38.74% return vs 30.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GFLW or VFLO?

GFLW and VFLO have the same expense ratio: 0.39% per year.

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

VFLO has the higher dividend yield at 1.19%, compared with 0.01% for GFLW.

What is the main difference between GFLW and VFLO?

GFLW is categorized as Large Cap Growth Equities, while VFLO is Large Cap Value Equities. GFLW tracks Victory Free Cash Flow Growth Index, while VFLO tracks Victory U.S. Large Cap Free Cash Flow Index.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (2.60 vs 1.58), 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.