ISMD vs. SFLO

Last updated Aug 2, 2026

ISMD (Inspire Small/Mid Cap Impact ETF) and SFLO (Victoryshares Small Cap Free Cash Flow ETF) are both Small Cap Blend Equities funds - ISMD tracks the Inspire Small/Mid Cap Impact Equal Weight Index while SFLO tracks the Victory US Small Cap Free Cash Flow Index. Both are passively managed. Over the past year, ISMD returned 41.09% vs 44.31% for SFLO. Their 0.80 correlation means they have sometimes moved together and sometimes differently. ISMD charges 0.57%/yr vs 0.49%/yr for SFLO.

Performance

ISMD vs. SFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Small/Mid Cap Impact ETF (ISMD) and Victoryshares Small Cap Free Cash Flow ETF (SFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ISMD having a 27.66% return and SFLO slightly higher at 27.87%.

ISMD

• 1D: -0.28%
• 1M: -0.59%
• 6M: 18.90%
• YTD: 27.66%
• 1Y: 41.09%
• 3Y*: 14.14%
• 5Y*: 9.57%
• 10Y*: —
• ALL TIME*: 9.85%

SFLO

• 1D: 0.33%
• 1M: 6.46%
• 6M: 25.77%
• YTD: 27.87%
• 1Y: 44.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.65%

*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)
ISMD Inspire Small/Mid Cap Impact ETF	$2.42M	$2.34M	$1.91M
SFLO Victoryshares Small Cap Free Cash Flow ETF	$4.38M	$3.53M	$2.43M

ISMD vs. SFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISMD Inspire Small/Mid Cap Impact ETF	27.66%	4.14%	9.53%	2.20%
SFLO Victoryshares Small Cap Free Cash Flow ETF	27.87%	11.88%	6.54%	0.27%

Correlation

The correlation between ISMD and SFLO 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 (All Time) Calculated using the full available price history since Dec 21, 2023	0.80

The correlation between ISMD and SFLO shifts across timeframes, from 0.68 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

ISMD vs. SFLO - Sectors Allocation Comparison

Sectors	ISMD	SFLO
Financial Services	17.1%	0.2%
Industrials	15.8%	8.3%
Technology	14.1%	32.1%
Consumer Cyclical	10.9%	12.6%
Healthcare	9.7%	16.3%
Real Estate	8.5%	0.1%
Basic Materials	6.8%	0.8%
Consumer Defensive	6.3%	6.1%
Energy	4.5%	15.4%
Utilities	3.6%	0.1%
Communication Services	1.5%	8.2%

Return for Risk

ISMD vs. SFLO — Risk / Return Rank

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

ISMD

ISMD Risk / Return Rank: 88
ISMD Sharpe Ratio Rank: 88
ISMD Sortino Ratio Rank: 88
ISMD Omega Ratio Rank: 85
ISMD Calmar Ratio Rank: 91
ISMD Martin Ratio Rank: 88

SFLO

SFLO Risk / Return Rank: 92
SFLO Sharpe Ratio Rank: 91
SFLO Sortino Ratio Rank: 91
SFLO Omega Ratio Rank: 88
SFLO Calmar Ratio Rank: 95
SFLO Martin Ratio Rank: 94

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.

ISMD vs. SFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Small/Mid Cap Impact ETF (ISMD) and Victoryshares Small Cap Free Cash Flow ETF (SFLO). 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.

	ISMD	SFLO	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.30	-0.16
Sortino ratio: Return per unit of downside risk	3.02	3.26	-0.24
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.03
Calmar ratio: Return relative to maximum drawdown	4.03	5.22	-1.19
Martin ratio: Return relative to average drawdown	13.05	17.48	-4.43

ISMD vs. SFLO - Sharpe Ratio Comparison

The current ISMD Sharpe Ratio is 2.14, which is comparable to the SFLO Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ISMD and SFLO, 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

ISMD vs. SFLO - Drawdown Comparison

The maximum ISMD drawdown since its inception was -44.60%, which is greater than SFLO's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for ISMD and SFLO.

Drawdown Indicators

	ISMD	SFLO	Difference
Max Drawdown Largest peak-to-trough decline	-44.60%	-26.63%	-17.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-7.80%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	—	—
Current Drawdown Current decline from peak	-2.21%	-1.26%	-0.95%
Average Drawdown Average peak-to-trough decline	-8.05%	-4.15%	-3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.33%	+0.64%

Volatility

ISMD vs. SFLO - Volatility Comparison

The current volatility for Inspire Small/Mid Cap Impact ETF (ISMD) is 3.68%, while Victoryshares Small Cap Free Cash Flow ETF (SFLO) has a volatility of 5.58%. This indicates that ISMD experiences smaller price fluctuations and is considered to be less risky than SFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISMD	SFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	5.58%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	12.55%	13.04%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	17.73%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	20.50%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.62%	20.50%	+3.12%

ISMD vs. SFLO - Expense Ratio Comparison

ISMD has a 0.57% expense ratio, which is higher than SFLO's 0.49% expense ratio.

Dividends

ISMD vs. SFLO - Dividend Comparison

ISMD's dividend yield for the trailing twelve months is around 1.12%, more than SFLO's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISMD Inspire Small/Mid Cap Impact ETF	1.12%	1.21%	1.24%	1.17%	1.28%	9.35%	0.99%	0.88%	1.35%	2.02%
SFLO Victoryshares Small Cap Free Cash Flow ETF	0.72%	1.04%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMD and SFLO in my portfolio?

ISMD and SFLO 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, ISMD or SFLO?

SFLO has higher volatility (5.58%) compared to ISMD (3.68%). In terms of maximum drawdown, ISMD dropped -44.60% vs SFLO's -26.63%.

Which ETF is better, ISMD or SFLO?

On 1-year performance, SFLO leads with 44.31% vs 41.09% for ISMD. On fees, SFLO is cheaper at 0.49% per year. On volatility, ISMD has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISMD or SFLO?

Over the 1-year period, SFLO has performed better with a 44.31% return vs 41.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISMD or SFLO?

SFLO is cheaper with a 0.49% expense ratio, compared with 0.57% for ISMD.

Which ETF pays a higher dividend yield, ISMD or SFLO?

ISMD has the higher dividend yield at 1.12%, compared with 0.72% for SFLO.

What is the main difference between ISMD and SFLO?

ISMD tracks Inspire Small/Mid Cap Impact Equal Weight Index, while SFLO tracks Victory US Small Cap Free Cash Flow Index. They also come from different issuers: Inspire and Victory. Their fees differ too: 0.57% for ISMD and 0.49% for SFLO.

Which has better risk-adjusted returns?

SFLO currently has the higher Sharpe Ratio (2.30 vs 2.14), 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.