VBK vs. FLQS

Last updated Aug 4, 2026

VBK (Vanguard Small-Cap Growth ETF) and FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - VBK tracks the CRSP US Small Cap Growth Index while FLQS tracks the LibertyQ U.S. Small Cap Equity Index. Both are passively managed. Over the past 5 years, VBK returned 4.55%/yr vs 7.34%/yr for FLQS. Their 0.79 correlation means they have sometimes moved together and sometimes differently. VBK charges 0.05%/yr vs 0.35%/yr for FLQS.

Performance

VBK vs. FLQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Growth ETF (VBK) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBK achieves a 14.98% return, which is significantly lower than FLQS's 16.90% return.

VBK

• 1D: 1.81%
• 1M: -3.14%
• 6M: 10.32%
• YTD: 14.98%
• 1Y: 25.41%
• 3Y*: 15.04%
• 5Y*: 4.55%
• 10Y*: 10.92%
• ALL TIME*: 9.83%

FLQS

• 1D: 1.54%
• 1M: 2.07%
• 6M: 11.88%
• YTD: 16.90%
• 1Y: 25.57%
• 3Y*: 12.71%
• 5Y*: 7.34%
• 10Y*: —
• ALL TIME*: 9.12%

*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)
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	$113.78K	$117.37K	$151.86K
VBK Vanguard Small-Cap Growth ETF	$70.46M	$72.06M	$83.50M

VBK vs. FLQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBK Vanguard Small-Cap Growth ETF	14.98%	8.50%	16.50%	21.45%	-28.44%	5.66%	35.44%	32.75%	-5.70%	12.45%
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	16.90%	5.04%	8.34%	21.28%	-16.88%	26.58%	10.51%	18.34%	-5.86%	7.41%

Correlation

The correlation between VBK and FLQS is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017	0.79

The correlation between VBK and FLQS shifts across timeframes, from 0.68 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.

VBK vs. FLQS - Sectors Allocation Comparison

Sectors	VBK	FLQS
Technology	27.1%	16.6%
Industrials	23.4%	12.7%
Healthcare	17.9%	13.3%
Consumer Cyclical	8.9%	16.0%
Financial Services	5.7%	13.0%
Real Estate	3.7%	6.2%
Communication Services	3.6%	1.7%
Energy	3.4%	4.7%
Basic Materials	3.1%	2.0%
Consumer Defensive	2.0%	8.3%
Utilities	1.1%	5.6%

Return for Risk

VBK vs. FLQS — Risk / Return Rank

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

VBK

VBK Risk / Return Rank: 54
VBK Sharpe Ratio Rank: 50
VBK Sortino Ratio Rank: 50
VBK Omega Ratio Rank: 46
VBK Calmar Ratio Rank: 62
VBK Martin Ratio Rank: 61

FLQS

FLQS Risk / Return Rank: 71
FLQS Sharpe Ratio Rank: 70
FLQS Sortino Ratio Rank: 76
FLQS Omega Ratio Rank: 68
FLQS Calmar Ratio Rank: 76
FLQS Martin Ratio Rank: 67

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.

VBK vs. FLQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Growth ETF (VBK) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). 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.

	VBK	FLQS	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.71	-0.45
Sortino ratio: Return per unit of downside risk	1.81	2.60	-0.79
Omega ratio: Gain probability vs. loss probability	1.22	1.30	-0.09
Calmar ratio: Return relative to maximum drawdown	2.23	2.85	-0.62
Martin ratio: Return relative to average drawdown	7.52	8.58	-1.06

VBK vs. FLQS - Sharpe Ratio Comparison

The current VBK Sharpe Ratio is 1.25, which is comparable to the FLQS Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of VBK and FLQS, 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

VBK vs. FLQS - Drawdown Comparison

The maximum VBK drawdown since its inception was -58.68%, which is greater than FLQS's maximum drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for VBK and FLQS.

Drawdown Indicators

	VBK	FLQS	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-42.16%	-16.52%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-9.00%	-2.44%
Max Drawdown (3Y) Largest decline over 3 years	-27.54%	-23.12%	-4.42%
Max Drawdown (5Y) Largest decline over 5 years	-38.39%	-28.05%	-10.34%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	—	—
Current Drawdown Current decline from peak	-5.22%	0.00%	-5.22%
Average Drawdown Average peak-to-trough decline	-10.10%	-7.88%	-2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	2.99%	+0.40%

Volatility

VBK vs. FLQS - Volatility Comparison

Vanguard Small-Cap Growth ETF (VBK) has a higher volatility of 5.46% compared to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) at 3.69%. This indicates that VBK's price experiences larger fluctuations and is considered to be riskier than FLQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBK	FLQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	3.69%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	15.90%	10.35%	+5.55%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	15.06%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.67%	19.16%	+4.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.92%	21.55%	+1.37%

VBK vs. FLQS - Expense Ratio Comparison

VBK has a 0.05% expense ratio, which is lower than FLQS's 0.35% expense ratio.

Dividends

VBK vs. FLQS - Dividend Comparison

VBK's dividend yield for the trailing twelve months is around 0.44%, less than FLQS's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	1.31%	1.16%	1.29%	1.75%	1.40%	0.95%	1.20%	1.41%	1.27%	1.02%	0.00%	0.00%
VBK Vanguard Small-Cap Growth ETF	0.44%	0.54%	0.54%	0.68%	0.55%	0.36%	0.44%	0.57%	0.79%	0.82%	1.08%	0.98%

Frequently Asked Questions

Can I hold both VBK and FLQS in my portfolio?

VBK and FLQS have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBK or FLQS?

VBK has higher volatility (5.46%) compared to FLQS (3.69%). In terms of maximum drawdown, VBK dropped -58.68% vs FLQS's -42.16%.

Which ETF is better, VBK or FLQS?

On 5-year performance, FLQS leads with 7.34% vs 4.55% for VBK. On fees, VBK is cheaper at 0.05% per year. On volatility, FLQS has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBK or FLQS?

Over the 5-year period, FLQS has performed better with a 7.34% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBK or FLQS?

VBK is cheaper with a 0.05% expense ratio, compared with 0.35% for FLQS.

Which ETF pays a higher dividend yield, VBK or FLQS?

FLQS has the higher dividend yield at 1.31%, compared with 0.44% for VBK.

What is the main difference between VBK and FLQS?

VBK tracks CRSP US Small Cap Growth Index, while FLQS tracks LibertyQ U.S. Small Cap Equity Index. They also come from different issuers: Vanguard and Franklin Templeton. Their fees differ too: 0.05% for VBK and 0.35% for FLQS.

Which has better risk-adjusted returns?

FLQS currently has the higher Sharpe Ratio (1.71 vs 1.25), 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.