UEVM vs. VFLO

Last updated Aug 4, 2026

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and VFLO (VictoryShares Free Cash Flow ETF) are both exchange-traded funds - UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index, while VFLO is a Large Cap Value Equities fund tracking the Victory U.S. Large Cap Free Cash Flow Index. Both are passively managed. Over the past 3 years, UEVM returned 16.40%/yr vs 25.26%/yr for VFLO. Their 0.43 correlation means their historical movements had little consistent relationship. UEVM charges 0.45%/yr vs 0.39%/yr for VFLO.

Performance

UEVM vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Emerging Markets Value Momentum ETF (UEVM) 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, UEVM achieves a 9.19% return, which is significantly lower than VFLO's 27.47% return.

UEVM

• 1D: -0.02%
• 1M: 4.45%
• 6M: 2.40%
• YTD: 9.19%
• 1Y: 18.69%
• 3Y*: 16.40%
• 5Y*: 8.36%
• 10Y*: —
• ALL TIME*: 5.82%

VFLO

• 1D: 0.52%
• 1M: 6.44%
• 6M: 26.76%
• YTD: 27.47%
• 1Y: 47.53%
• 3Y*: 25.26%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.88%

*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)
UEVM VictoryShares Emerging Markets Value Momentum ETF	$142.75K	$200.41K	$201.25K
VFLO VictoryShares Free Cash Flow ETF	$87.61M	$73.14M	$52.34M

UEVM vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UEVM VictoryShares Emerging Markets Value Momentum ETF	9.19%	22.74%	11.92%	9.39%
VFLO VictoryShares Free Cash Flow ETF	27.47%	17.51%	21.83%	15.05%

Correlation

The correlation between UEVM and VFLO is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.43

UEVM vs. VFLO - Sectors Allocation Comparison

Sectors	UEVM	VFLO
Financial Services	26.7%	0.0%
Consumer Cyclical	11.6%	10.8%
Consumer Defensive	10.1%	0.0%
Industrials	9.7%	0.0%
Healthcare	8.7%	21.6%
Technology	8.6%	30.4%
Basic Materials	7.4%	7.0%
Energy	5.9%	22.6%
Utilities	5.0%	3.3%
Real Estate	4.2%	0.0%
Communication Services	2.2%	4.4%

Return for Risk

UEVM vs. VFLO — Risk / Return Rank

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

UEVM

UEVM Risk / Return Rank: 46
UEVM Sharpe Ratio Rank: 45
UEVM Sortino Ratio Rank: 43
UEVM Omega Ratio Rank: 44
UEVM Calmar Ratio Rank: 51
UEVM Martin Ratio Rank: 47

VFLO

VFLO Risk / Return Rank: 96
VFLO Sharpe Ratio Rank: 96
VFLO Sortino Ratio Rank: 96
VFLO Omega Ratio Rank: 95
VFLO Calmar Ratio Rank: 97
VFLO Martin Ratio Rank: 96

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.

UEVM vs. VFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) 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.

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.

	UEVM	VFLO	Difference
Sharpe ratio: Return per unit of total volatility	1.18	3.11	-1.93
Sortino ratio: Return per unit of downside risk	1.65	4.31	-2.66
Omega ratio: Gain probability vs. loss probability	1.22	1.55	-0.33
Calmar ratio: Return relative to maximum drawdown	1.92	7.41	-5.50
Martin ratio: Return relative to average drawdown	5.56	24.91	-19.35

UEVM vs. VFLO - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.18, which is lower than the VFLO Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of UEVM 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.

Drawdowns

UEVM vs. VFLO - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, which is greater than VFLO's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for UEVM and VFLO.

Drawdown Indicators

	UEVM	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-17.79%	-27.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-6.44%	-3.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-17.79%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-26.55%	—	—
Current Drawdown Current decline from peak	-2.00%	-0.44%	-1.56%
Average Drawdown Average peak-to-trough decline	-11.53%	-2.43%	-9.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	1.91%	+1.46%

Volatility

UEVM vs. VFLO - Volatility Comparison

VictoryShares Emerging Markets Value Momentum ETF (UEVM) has a higher volatility of 4.13% compared to VictoryShares Free Cash Flow ETF (VFLO) at 3.87%. This indicates that UEVM's price experiences larger fluctuations and is considered to be riskier than VFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UEVM	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	3.87%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	13.14%	12.12%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	15.41%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	15.97%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	15.97%	+2.39%

UEVM vs. VFLO - Expense Ratio Comparison

UEVM has a 0.45% expense ratio, which is higher than VFLO's 0.39% expense ratio.

Dividends

UEVM vs. VFLO - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 2.66%, more than VFLO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
UEVM VictoryShares Emerging Markets Value Momentum ETF	2.66%	4.02%	5.65%	4.71%	3.46%	4.49%	2.19%	2.79%	2.34%	0.79%
VFLO VictoryShares Free Cash Flow ETF	1.07%	1.60%	1.20%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UEVM and VFLO in my portfolio?

UEVM and VFLO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UEVM or VFLO?

UEVM has higher volatility (4.13%) compared to VFLO (3.87%). In terms of maximum drawdown, UEVM dropped -45.44% vs VFLO's -17.79%.

Which ETF is better, UEVM or VFLO?

On 3-year performance, VFLO leads with 25.26% vs 16.40% for UEVM. On fees, VFLO is cheaper at 0.39% per year. On volatility, VFLO has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UEVM or VFLO?

Over the 3-year period, VFLO has performed better with a 25.26% return vs 16.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UEVM or VFLO?

VFLO is cheaper with a 0.39% expense ratio, compared with 0.45% for UEVM.

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

UEVM has the higher dividend yield at 2.66%, compared with 1.07% for VFLO.

What is the main difference between UEVM and VFLO?

UEVM is categorized as Momentum, while VFLO is Large Cap Value Equities. UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index, while VFLO tracks Victory U.S. Large Cap Free Cash Flow Index. Their fees differ too: 0.45% for UEVM and 0.39% for VFLO.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (3.11 vs 1.18), 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.