QQQS vs. SFLO

Last updated Aug 4, 2026

QQQS (Invesco NASDAQ Future Gen 200 ETF) and SFLO (Victoryshares Small Cap Free Cash Flow ETF) are both Small Cap Blend Equities funds - QQQS tracks the Nasdaq Innovators Completion Cap Total Return Index while SFLO tracks the Victory US Small Cap Free Cash Flow Index. Both are passively managed. Over the past year, QQQS returned 63.29% vs 47.01% for SFLO. Their 0.71 correlation means they have sometimes moved together and sometimes differently. QQQS charges 0.20%/yr vs 0.49%/yr for SFLO.

Performance

QQQS vs. SFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Future Gen 200 ETF (QQQS) and Victoryshares Small Cap Free Cash Flow ETF (SFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQS achieves a 25.90% return, which is significantly lower than SFLO's 30.25% return.

QQQS

• 1D: 2.75%
• 1M: -2.92%
• 6M: 20.13%
• YTD: 25.90%
• 1Y: 63.29%
• 3Y*: 16.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.81%

SFLO

• 1D: 1.87%
• 1M: 8.45%
• 6M: 27.60%
• YTD: 30.25%
• 1Y: 47.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.43%

*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)
QQQS Invesco NASDAQ Future Gen 200 ETF	$265.41K	$341.43K	$375.31K
SFLO Victoryshares Small Cap Free Cash Flow ETF	$5.65M	$4.19M	$2.65M

QQQS vs. SFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQS Invesco NASDAQ Future Gen 200 ETF	25.90%	23.03%	10.20%	6.13%
SFLO Victoryshares Small Cap Free Cash Flow ETF	30.25%	11.88%	6.54%	0.27%

Correlation

The correlation between QQQS and SFLO is 0.60, 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.	0.60
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023	0.71

The correlation between QQQS and SFLO shifts across timeframes, from 0.60 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

QQQS vs. SFLO - Sectors Allocation Comparison

Sectors	QQQS	SFLO
Healthcare	57.1%	16.3%
Technology	26.0%	32.1%
Industrials	6.0%	8.3%
Consumer Cyclical	5.7%	12.6%
Communication Services	2.9%	8.2%
Consumer Defensive	1.4%	6.1%
Basic Materials	0.5%	0.8%
Energy	0.4%	15.4%
Financial Services	0.1%	0.2%
Real Estate	-	0.1%
Utilities	-	0.1%

Return for Risk

QQQS vs. SFLO — Risk / Return Rank

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

QQQS

QQQS Risk / Return Rank: 88
QQQS Sharpe Ratio Rank: 90
QQQS Sortino Ratio Rank: 87
QQQS Omega Ratio Rank: 82
QQQS Calmar Ratio Rank: 93
QQQS Martin Ratio Rank: 90

SFLO

SFLO Risk / Return Rank: 94
SFLO Sharpe Ratio Rank: 94
SFLO Sortino Ratio Rank: 94
SFLO Omega Ratio Rank: 92
SFLO Calmar Ratio Rank: 96
SFLO Martin Ratio Rank: 95

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.

QQQS vs. SFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Future Gen 200 ETF (QQQS) 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.

	QQQS	SFLO	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.69	-0.36
Sortino ratio: Return per unit of downside risk	3.03	3.78	-0.75
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.10
Calmar ratio: Return relative to maximum drawdown	4.67	6.05	-1.39
Martin ratio: Return relative to average drawdown	14.63	20.29	-5.66

QQQS vs. SFLO - Sharpe Ratio Comparison

The current QQQS Sharpe Ratio is 2.33, which is comparable to the SFLO Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of QQQS 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

QQQS vs. SFLO - Drawdown Comparison

The maximum QQQS drawdown since its inception was -38.06%, which is greater than SFLO's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for QQQS and SFLO.

Drawdown Indicators

	QQQS	SFLO	Difference
Max Drawdown Largest peak-to-trough decline	-38.06%	-26.63%	-11.43%
Max Drawdown (1Y) Largest decline over 1 year	-13.63%	-7.80%	-5.83%
Max Drawdown (3Y) Largest decline over 3 years	-34.32%	—	—
Current Drawdown Current decline from peak	-3.79%	0.00%	-3.79%
Average Drawdown Average peak-to-trough decline	-12.86%	-4.15%	-8.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.34%	2.32%	+2.02%

Volatility

QQQS vs. SFLO - Volatility Comparison

Invesco NASDAQ Future Gen 200 ETF (QQQS) has a higher volatility of 6.79% compared to Victoryshares Small Cap Free Cash Flow ETF (SFLO) at 5.72%. This indicates that QQQS's price experiences larger fluctuations and is considered to be riskier than SFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQS	SFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	5.72%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	20.39%	13.12%	+7.27%
Volatility (1Y) Calculated over the trailing 1-year period	27.38%	17.58%	+9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.43%	20.51%	+7.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.43%	20.51%	+7.92%

QQQS vs. SFLO - Expense Ratio Comparison

QQQS has a 0.20% expense ratio, which is lower than SFLO's 0.49% expense ratio.

Dividends

QQQS vs. SFLO - Dividend Comparison

QQQS's dividend yield for the trailing twelve months is around 2.62%, more than SFLO's 0.71% yield.

Position	TTM	2025	2024	2023	2022
QQQS Invesco NASDAQ Future Gen 200 ETF	2.62%	3.48%	0.80%	0.68%	0.04%
SFLO Victoryshares Small Cap Free Cash Flow ETF	0.71%	1.04%	1.28%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQS and SFLO in my portfolio?

QQQS and SFLO have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQS or SFLO?

QQQS has higher volatility (6.79%) compared to SFLO (5.72%). In terms of maximum drawdown, QQQS dropped -38.06% vs SFLO's -26.63%.

Which ETF is better, QQQS or SFLO?

On 1-year performance, QQQS leads with 63.29% vs 47.01% for SFLO. On fees, QQQS is cheaper at 0.20% per year. On volatility, SFLO has been the lower-risk option at 5.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQS or SFLO?

Over the 1-year period, QQQS has performed better with a 63.29% return vs 47.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQS or SFLO?

QQQS is cheaper with a 0.20% expense ratio, compared with 0.49% for SFLO.

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

QQQS has the higher dividend yield at 2.62%, compared with 0.71% for SFLO.

What is the main difference between QQQS and SFLO?

QQQS tracks Nasdaq Innovators Completion Cap Total Return Index, while SFLO tracks Victory US Small Cap Free Cash Flow Index. They also come from different issuers: Invesco and Victory. Their fees differ too: 0.20% for QQQS and 0.49% for SFLO.

Which has better risk-adjusted returns?

SFLO currently has the higher Sharpe Ratio (2.69 vs 2.33), 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.