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IWM vs. SFLO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWM vs. SFLO

Last updated Aug 5, 2026
Documentation

IWM (iShares Russell 2000 ETF) and SFLO (Victoryshares Small Cap Free Cash Flow ETF) are both Small Cap Blend Equities funds - IWM tracks the Russell 2000 Index while SFLO tracks the Victory US Small Cap Free Cash Flow Index. Both are passively managed. Over the past year, IWM returned 38.74% vs 46.58% for SFLO. Their 0.79 correlation means they have sometimes moved together and sometimes differently. IWM charges 0.19%/yr vs 0.49%/yr for SFLO.

Performance

IWM vs. SFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 ETF (IWM) and Victoryshares Small Cap Free Cash Flow ETF (SFLO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWM achieves a 23.08% return, which is significantly lower than SFLO's 32.52% return.

IWM

1D
1.85%
1M
1.39%
6M
15.29%
YTD
23.08%
1Y
38.74%
3Y*
17.20%
5Y*
7.66%
10Y*
10.83%
ALL TIME*
8.88%

SFLO

1D
1.74%
1M
10.34%
6M
31.50%
YTD
32.52%
1Y
46.58%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
19.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWM

iShares Russell 2000 ETF
$6.85B$6.35B$7.43B

SFLO

Victoryshares Small Cap Free Cash Flow ETF
$6.12M$4.36M$2.77M

IWM vs. SFLO - Yearly Performance Comparison

2026 (YTD)202520242023
IWM
iShares Russell 2000 ETF		23.08%12.66%11.38%2.26%
SFLO
Victoryshares Small Cap Free Cash Flow ETF		32.52%11.88%6.54%0.27%

Correlation

The correlation between IWM and SFLO is 0.62, 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.

0.62

Correlation (All Time)
Calculated using the full available price history since Dec 21, 2023

0.79

The correlation between IWM and SFLO shifts across timeframes, from 0.62 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

IWM vs. SFLO - Sectors Allocation Comparison

Sectors
IWM
SFLO

Healthcare

20.0%
16.3%

Financial Services

18.3%
0.2%

Industrials

13.7%
8.3%

Technology

13.6%
32.1%

Consumer Cyclical

9.2%
12.6%

Real Estate

7.0%
0.1%

Energy

5.6%
15.4%

Basic Materials

4.5%
0.8%

Utilities

2.9%
0.1%

Consumer Defensive

2.8%
6.1%

Communication Services

2.0%
8.2%

Healthcare

IWM
20.0%
SFLO
16.3%

Financial Services

IWM
18.3%
SFLO
0.2%

Industrials

IWM
13.7%
SFLO
8.3%

Technology

IWM
13.6%
SFLO
32.1%

Consumer Cyclical

IWM
9.2%
SFLO
12.6%

Real Estate

IWM
7.0%
SFLO
0.1%

Energy

IWM
5.6%
SFLO
15.4%

Basic Materials

IWM
4.5%
SFLO
0.8%

Utilities

IWM
2.9%
SFLO
0.1%

Consumer Defensive

IWM
2.8%
SFLO
6.1%

Communication Services

IWM
2.0%
SFLO
8.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Russell 2000 ETF

Victoryshares Small Cap Free Cash Flow ETF

Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. VOOIWM vs. IWNIWM vs. IWO
Often compared with SFLO:
SFLO vs. AVUVSFLO vs. SMCFSFLO vs. DSMCSFLO vs. SMIGSFLO vs. CALFSFLO vs. COWZSFLO vs. ECML

Return for Risk

IWM vs. SFLO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IWM
IWM Risk / Return Rank: 7979
Overall Rank
IWM Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 7979
Sortino Ratio Rank
IWM Omega Ratio Rank: 7272
Omega Ratio Rank
IWM Calmar Ratio Rank: 8484
Calmar Ratio Rank
IWM Martin Ratio Rank: 8383
Martin Ratio Rank
SFLO
SFLO Risk / Return Rank: 9393
Overall Rank
SFLO Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
SFLO Sortino Ratio Rank: 9393
Sortino Ratio Rank
SFLO Omega Ratio Rank: 9090
Omega Ratio Rank
SFLO Calmar Ratio Rank: 9595
Calmar Ratio Rank
SFLO Martin Ratio Rank: 9494
Martin Ratio Rank
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.

IWM vs. SFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) 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.

IWMSFLODifference
Sharpe ratioReturn per unit of total volatility
2.02
2.67

-0.65

Sortino ratioReturn per unit of downside risk
2.82
3.76

-0.93

Omega ratioGain probability vs. loss probability

1.34

1.45

-0.12

Calmar ratioReturn relative to maximum drawdown

3.53

6.00

-2.47

Martin ratioReturn relative to average drawdown

12.51

20.11

-7.60

IWM vs. SFLO - Sharpe Ratio Comparison

The current IWM Sharpe Ratio is 2.02, which is comparable to the SFLO Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of IWM 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.

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Drawdowns

IWM vs. SFLO - Drawdown Comparison

The maximum IWM drawdown since its inception was -59.05%, which is greater than SFLO's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for IWM and SFLO.

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Drawdown Indicators

IWMSFLODifference

Max Drawdown

Largest peak-to-trough decline

-59.05%

-26.63%

-32.42%

Max Drawdown (1Y)

Largest decline over 1 year

-11.03%

-7.80%

-3.23%

Max Drawdown (3Y)

Largest decline over 3 years

-27.50%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-31.91%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-41.13%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-10.71%

-4.14%

-6.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.32%

+0.79%

Volatility

IWM vs. SFLO - Volatility Comparison

The current volatility for iShares Russell 2000 ETF (IWM) is 4.58%, while Victoryshares Small Cap Free Cash Flow ETF (SFLO) has a volatility of 5.87%. This indicates that IWM 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.

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Volatility by Period

IWMSFLODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.58%

5.87%

-1.29%

Volatility (6M)

Calculated over the trailing 6-month period

14.21%

13.21%

+1.00%

Volatility (1Y)

Calculated over the trailing 1-year period

19.40%

17.62%

+1.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.50%

20.52%

+1.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.02%

20.52%

+2.50%

IWM vs. SFLO - Expense Ratio Comparison

IWM has a 0.19% expense ratio, which is lower than SFLO's 0.49% expense ratio.

Dividends

IWM vs. SFLO - Dividend Comparison

IWM's dividend yield for the trailing twelve months is around 0.88%, more than SFLO's 0.70% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.88%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
SFLO
Victoryshares Small Cap Free Cash Flow ETF		0.70%1.04%1.28%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IWM and SFLO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SFLO has higher volatility (5.87%) compared to IWM (4.58%). In terms of maximum drawdown, IWM dropped -59.05% vs SFLO's -26.63%.

On 1-year performance, SFLO leads with 46.58% vs 38.74% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, SFLO has performed better with a 46.58% return vs 38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWM is cheaper with a 0.19% expense ratio, compared with 0.49% for SFLO.

IWM has the higher dividend yield at 0.88%, compared with 0.70% for SFLO.

IWM tracks Russell 2000 Index, while SFLO tracks Victory US Small Cap Free Cash Flow Index. They also come from different issuers: iShares and Victory. Their fees differ too: 0.19% for IWM and 0.49% for SFLO.

SFLO currently has the higher Sharpe Ratio (2.67 vs 2.02), 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.

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