USTB vs. SFLO

Last updated Apr 2, 2026

Compare and contrast key facts about VictoryShares Short-Term Bond ETF (USTB) and Victoryshares Small Cap Free Cash Flow ETF (SFLO).

USTB and SFLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USTB is a passively managed fund by Victory that tracks the performance of the Bloomberg 1–3 Year Credit Index. It was launched on Oct 24, 2017. SFLO is a passively managed fund by Victory that tracks the performance of the Victory US Small Cap Free Cash Flow Index. It was launched on Dec 20, 2023. Both USTB and SFLO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

USTB vs. SFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Short-Term Bond ETF (USTB) and Victoryshares Small Cap Free Cash Flow ETF (SFLO). The values are adjusted to include any dividend payments, if applicable.

USTB vs. SFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USTB VictoryShares Short-Term Bond ETF	0.35%	6.08%	6.49%	0.22%
SFLO Victoryshares Small Cap Free Cash Flow ETF	2.39%	11.88%	6.54%	-0.16%

Returns By Period

In the year-to-date period, USTB achieves a 0.35% return, which is significantly lower than SFLO's 2.39% return.

USTB

• 1D: 0.06%
• 1M: -0.43%
• YTD: 0.35%
• 6M: 1.43%
• 1Y: 4.62%
• 3Y*: 6.01%
• 5Y*: 3.43%
• 10Y*: —

SFLO

• 1D: 0.40%
• 1M: -1.10%
• YTD: 2.39%
• 6M: 3.25%
• 1Y: 23.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USTB vs. SFLO - Expense Ratio Comparison

USTB has a 0.34% expense ratio, which is lower than SFLO's 0.49% expense ratio.

SFLO

Victoryshares Small Cap Free Cash Flow ETF

USTB

VictoryShares Short-Term Bond ETF

Return for Risk

USTB vs. SFLO — Risk / Return Rank

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

USTB

USTB Risk / Return Rank: 98
USTB Sharpe Ratio Rank: 98
USTB Sortino Ratio Rank: 98
USTB Omega Ratio Rank: 98
USTB Calmar Ratio Rank: 97
USTB Martin Ratio Rank: 98

SFLO

SFLO Risk / Return Rank: 54
SFLO Sharpe Ratio Rank: 52
SFLO Sortino Ratio Rank: 55
SFLO Omega Ratio Rank: 53
SFLO Calmar Ratio Rank: 52
SFLO Martin Ratio Rank: 58

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.

USTB vs. SFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Short-Term Bond ETF (USTB) 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.

	USTB	SFLO	Difference
Sharpe ratio Return per unit of total volatility	3.12	0.98	+2.14
Sortino ratio Return per unit of downside risk	4.97	1.50	+3.48
Omega ratio Gain probability vs. loss probability	1.73	1.21	+0.52
Calmar ratio Return relative to maximum drawdown	5.47	1.44	+4.03
Martin ratio Return relative to average drawdown	23.81	6.20	+17.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USTB vs. SFLO - Sharpe Ratio Comparison

The current USTB Sharpe Ratio is 3.12, which is higher than the SFLO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of USTB and SFLO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	USTB	SFLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	0.98	+2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.70	0.44	+1.26

Correlation

The correlation between USTB and SFLO is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

USTB vs. SFLO - Dividend Comparison

USTB's dividend yield for the trailing twelve months is around 4.61%, more than SFLO's 0.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
USTB VictoryShares Short-Term Bond ETF	4.61%	4.62%	5.05%	4.49%	2.54%	1.84%	2.59%	2.69%	2.32%	0.43%
SFLO Victoryshares Small Cap Free Cash Flow ETF	0.95%	1.04%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

USTB vs. SFLO - Drawdown Comparison

The maximum USTB drawdown since its inception was -5.32%, smaller than the maximum SFLO drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for USTB and SFLO.

Drawdown Indicators

	USTB	SFLO	Difference
Max Drawdown Largest peak-to-trough decline	-5.32%	-26.63%	+21.31%
Max Drawdown (1Y) Largest decline over 1 year	-0.84%	-16.83%	+15.99%
Max Drawdown (5Y) Largest decline over 5 years	-4.96%	—	—
Current Drawdown Current decline from peak	-0.59%	-1.50%	+0.91%
Average Drawdown Average peak-to-trough decline	-0.67%	-4.58%	+3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	3.90%	-3.71%

Volatility

USTB vs. SFLO - Volatility Comparison

The current volatility for VictoryShares Short-Term Bond ETF (USTB) is 0.49%, while Victoryshares Small Cap Free Cash Flow ETF (SFLO) has a volatility of 4.75%. This indicates that USTB 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.

Volatility by Period

	USTB	SFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	4.75%	-4.26%
Volatility (6M) Calculated over the trailing 6-month period	0.83%	11.99%	-11.16%
Volatility (1Y) Calculated over the trailing 1-year period	1.49%	23.97%	-22.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.01%	20.79%	-18.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.02%	20.79%	-18.77%