TVAL vs. VFLO

Last updated Jun 4, 2026

TVAL (T. Rowe Price Value ETF) and VFLO (Victoryshares Free Cash Flow ETF) are both Large Cap Value Equities funds. TVAL is actively managed, while VFLO is passively managed. Over the past year, TVAL returned 28.49% vs 38.74% for VFLO. Their correlation of 0.80 suggests significant overlap in exposure. TVAL charges 0.33%/yr vs 0.39%/yr for VFLO.

Performance

TVAL vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value ETF (TVAL) 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, TVAL achieves a 15.42% return, which is significantly lower than VFLO's 20.09% return.

TVAL

• 1D: -0.05%
• 1M: 3.86%
• YTD: 15.42%
• 6M: 16.79%
• 1Y: 28.49%
• 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)

TVAL vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TVAL T. Rowe Price Value ETF	15.42%	15.59%	14.54%	9.66%
VFLO Victoryshares Free Cash Flow ETF	20.09%	17.51%	21.83%	14.59%

Correlation

The correlation between TVAL and VFLO is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.80

The correlation between TVAL and VFLO shifts across timeframes, from 0.66 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

TVAL vs. VFLO - Sectors Allocation Comparison

Sectors	TVAL	VFLO
Financial Services	18.9%	0.0%
Technology	16.7%	38.4%
Industrials	12.2%	3.4%
Healthcare	11.4%	17.9%
Energy	8.5%	12.2%
Communication Services	7.7%	4.7%
Consumer Cyclical	7.1%	17.2%
Consumer Defensive	6.1%	0.0%
Utilities	4.8%	1.7%
Basic Materials	3.6%	4.3%
Real Estate	3.0%	0.0%

Return for Risk

TVAL vs. VFLO — Risk / Return Rank

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

TVAL

TVAL Risk / Return Rank: 82
TVAL Sharpe Ratio Rank: 82
TVAL Sortino Ratio Rank: 84
TVAL Omega Ratio Rank: 81
TVAL Calmar Ratio Rank: 78
TVAL Martin Ratio Rank: 83

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.

TVAL vs. VFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value ETF (TVAL) 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.

	TVAL	VFLO	Difference
Sharpe ratio Return per unit of total volatility	2.69	2.60	+0.09
Sortino ratio Return per unit of downside risk	3.78	3.76	+0.02
Omega ratio Gain probability vs. loss probability	1.49	1.46	+0.03
Calmar ratio Return relative to maximum drawdown	4.00	7.82	-3.81
Martin ratio Return relative to average drawdown	16.80	23.81	-7.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TVAL vs. VFLO - Sharpe Ratio Comparison

The current TVAL Sharpe Ratio is 2.69, which is comparable to the VFLO Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of TVAL 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

	TVAL	VFLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.60	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	1.48	1.63	-0.15

Drawdowns

TVAL vs. VFLO - Drawdown Comparison

The maximum TVAL drawdown since its inception was -14.84%, smaller than the maximum VFLO drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for TVAL and VFLO.

Drawdown Indicators

	TVAL	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-14.84%	-17.79%	+2.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-4.98%	-2.17%
Current Drawdown Current decline from peak	-0.39%	-2.08%	+1.69%
Average Drawdown Average peak-to-trough decline	-2.06%	-2.42%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	1.63%	+0.07%

Volatility

TVAL vs. VFLO - Volatility Comparison

The current volatility for T. Rowe Price Value ETF (TVAL) is 3.18%, while Victoryshares Free Cash Flow ETF (VFLO) has a volatility of 6.04%. This indicates that TVAL 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

	TVAL	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	6.04%	-2.86%
Volatility (6M) Calculated over the trailing 6-month period	8.22%	11.05%	-2.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.65%	15.02%	-4.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.59%	15.93%	-3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.59%	15.93%	-3.34%

TVAL vs. VFLO - Expense Ratio Comparison

TVAL has a 0.33% expense ratio, which is lower than VFLO's 0.39% expense ratio.

Dividends

TVAL vs. VFLO - Dividend Comparison

TVAL's dividend yield for the trailing twelve months is around 1.00%, less than VFLO's 1.19% yield.

Position	TTM	2025	2024	2023
TVAL T. Rowe Price Value ETF	1.00%	1.15%	1.16%	0.64%
VFLO Victoryshares Free Cash Flow ETF	1.19%	1.60%	1.20%	0.71%

Frequently Asked Questions

Can I hold both TVAL and VFLO in my portfolio?

TVAL and VFLO have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TVAL or VFLO?

VFLO has higher volatility (6.04%) compared to TVAL (3.18%). In terms of maximum drawdown, TVAL dropped -14.84% vs VFLO's -17.79%.

Which ETF is better, TVAL or VFLO?

On 1-year performance, VFLO leads with 38.74% vs 28.49% for TVAL. On fees, TVAL is cheaper at 0.33% per year. On volatility, TVAL has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TVAL or VFLO?

Over the 1-year period, VFLO has performed better with a 38.74% return vs 28.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TVAL or VFLO?

TVAL is cheaper with a 0.33% expense ratio, compared with 0.39% for VFLO.

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

VFLO has the higher dividend yield at 1.19%, compared with 1.00% for TVAL.

What is the main difference between TVAL and VFLO?

They also come from different issuers: T. Rowe Price and Victory. Their fees differ too: 0.33% for TVAL and 0.39% for VFLO.

Which has better risk-adjusted returns?

TVAL currently has the higher Sharpe Ratio (2.69 vs 2.60), 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.