SFLO vs. ISCMF

Last updated Jun 24, 2026

SFLO (Victoryshares Small Cap Free Cash Flow ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SFLO is a Small Cap Blend Equities fund tracking the Victory US Small Cap Free Cash Flow Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past year, SFLO returned 28.87% vs 31.30% for ISCMF. At a correlation of -0.01, they often move in opposite directions. SFLO charges 0.49%/yr vs 0.19%/yr for ISCMF.

Performance

SFLO vs. ISCMF - Performance Comparison

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

Returns By Period

In the year-to-date period, SFLO achieves a 12.77% return, which is significantly lower than ISCMF's 22.87% return.

SFLO

• 1D: 0.86%
• 1M: 0.50%
• YTD: 12.77%
• 6M: 11.84%
• 1Y: 28.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -4.99%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 31.30%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

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

SFLO vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SFLO Victoryshares Small Cap Free Cash Flow ETF	12.77%	11.88%	6.54%	0.27%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-1.18%

Correlation

The correlation between SFLO and ISCMF is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023	-0.01

Return for Risk

SFLO vs. ISCMF — Risk / Return Rank

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

SFLO

SFLO Risk / Return Rank: 60
SFLO Sharpe Ratio Rank: 52
SFLO Sortino Ratio Rank: 54
SFLO Omega Ratio Rank: 48
SFLO Calmar Ratio Rank: 77
SFLO Martin Ratio Rank: 69

ISCMF

ISCMF Risk / Return Rank: 78
ISCMF Sharpe Ratio Rank: 56
ISCMF Sortino Ratio Rank: 77
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 69

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.

SFLO vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victoryshares Small Cap Free Cash Flow ETF (SFLO) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.

	SFLO	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.76	-0.09
Sortino ratio: Return per unit of downside risk	2.43	3.18	-0.75
Omega ratio: Gain probability vs. loss probability	1.29	2.31	-1.02
Calmar ratio: Return relative to maximum drawdown	3.72	5.53	-1.81
Martin ratio: Return relative to average drawdown	11.95	11.85	+0.10

SFLO vs. ISCMF - Sharpe Ratio Comparison

The current SFLO Sharpe Ratio is 1.67, which is comparable to the ISCMF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of SFLO and ISCMF, 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

SFLO vs. ISCMF - Drawdown Comparison

The maximum SFLO drawdown since its inception was -26.63%, roughly equal to the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for SFLO and ISCMF.

Drawdown Indicators

	SFLO	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-26.63%	-25.42%	-1.21%
Max Drawdown (1Y) Largest decline over 1 year	-7.80%	-5.69%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	-3.39%	-5.26%	+1.87%
Average Drawdown Average peak-to-trough decline	-4.29%	-13.35%	+9.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.65%	-0.23%

Volatility

SFLO vs. ISCMF - Volatility Comparison

Victoryshares Small Cap Free Cash Flow ETF (SFLO) and iShares Diversified Commodity Swap UCITS ETF (ISCMF) have volatilities of 5.20% and 5.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFLO	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	5.11%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	15.45%	-3.78%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	17.84%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.45%	14.29%	+6.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	14.29%	+6.16%

SFLO vs. ISCMF - Expense Ratio Comparison

SFLO has a 0.49% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

SFLO vs. ISCMF - Dividend Comparison

SFLO's dividend yield for the trailing twelve months is around 0.82%, while ISCMF has not paid dividends to shareholders.

Position	TTM	2025	2024
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%	0.00%
SFLO Victoryshares Small Cap Free Cash Flow ETF	0.82%	1.04%	1.28%

Frequently Asked Questions

Can I hold both SFLO and ISCMF in my portfolio?

SFLO and ISCMF have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFLO or ISCMF?

SFLO has higher volatility (5.20%) compared to ISCMF (5.11%). In terms of maximum drawdown, SFLO dropped -26.63% vs ISCMF's -25.42%.

Which ETF is better, SFLO or ISCMF?

On 1-year performance, ISCMF leads with 31.30% vs 28.87% for SFLO. On fees, ISCMF is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFLO or ISCMF?

Over the 1-year period, ISCMF has performed better with a 31.30% return vs 28.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFLO or ISCMF?

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

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

SFLO has the higher dividend yield at 0.82%, compared with 0.00% for ISCMF.

What is the main difference between SFLO and ISCMF?

SFLO is categorized as Small Cap Blend Equities, while ISCMF is Commodities. SFLO tracks Victory US Small Cap Free Cash Flow Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Victory and iShares. Their fees differ too: 0.49% for SFLO and 0.19% for ISCMF.

Which has better risk-adjusted returns?

ISCMF currently has the higher Sharpe Ratio (1.76 vs 1.67), 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.