VFLO vs. GDMA

Last updated Aug 1, 2026

VFLO (VictoryShares Free Cash Flow ETF) and GDMA (Gadsden Dynamic Multi-Asset ETF) are both exchange-traded funds - VFLO is a Large Cap Value Equities fund tracking the Victory U.S. Large Cap Free Cash Flow Index, while GDMA is a Global Allocation fund actively managed by Gadsden. VFLO is passively managed, while GDMA is actively managed. Over the past 3 years, VFLO returned 24.37%/yr vs 16.04%/yr for GDMA. Their 0.38 correlation means their historical movements had little consistent relationship. VFLO charges 0.39%/yr vs 0.77%/yr for GDMA.

Performance

VFLO vs. GDMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Free Cash Flow ETF (VFLO) and Gadsden Dynamic Multi-Asset ETF (GDMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFLO achieves a 26.80% return, which is significantly higher than GDMA's 10.56% return.

VFLO

• 1D: 0.24%
• 1M: 7.67%
• 6M: 26.51%
• YTD: 26.80%
• 1Y: 45.07%
• 3Y*: 24.37%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.75%

GDMA

• 1D: 0.67%
• 1M: 0.43%
• 6M: 1.94%
• YTD: 10.56%
• 1Y: 23.37%
• 3Y*: 16.04%
• 5Y*: 8.45%
• 10Y*: —
• ALL TIME*: 9.45%

*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)
GDMA Gadsden Dynamic Multi-Asset ETF	$1.65M	$1.00M	$708.66K
VFLO VictoryShares Free Cash Flow ETF	$86.49M	$72.10M	$51.24M

VFLO vs. GDMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VFLO VictoryShares Free Cash Flow ETF	26.80%	17.51%	21.83%	15.05%
GDMA Gadsden Dynamic Multi-Asset ETF	10.56%	25.29%	7.44%	6.81%

Correlation

The correlation between VFLO and GDMA is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.38

Return for Risk

VFLO vs. GDMA — Risk / Return Rank

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

VFLO

VFLO Risk / Return Rank: 96
VFLO Sharpe Ratio Rank: 96
VFLO Sortino Ratio Rank: 95
VFLO Omega Ratio Rank: 94
VFLO Calmar Ratio Rank: 97
VFLO Martin Ratio Rank: 96

GDMA

GDMA Risk / Return Rank: 67
GDMA Sharpe Ratio Rank: 64
GDMA Sortino Ratio Rank: 58
GDMA Omega Ratio Rank: 68
GDMA Calmar Ratio Rank: 84
GDMA Martin Ratio Rank: 61

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.

VFLO vs. GDMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Free Cash Flow ETF (VFLO) and Gadsden Dynamic Multi-Asset ETF (GDMA). 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.

	VFLO	GDMA	Difference
Sharpe ratio: Return per unit of total volatility	2.94	1.49	+1.45
Sortino ratio: Return per unit of downside risk	4.10	1.97	+2.13
Omega ratio: Gain probability vs. loss probability	1.52	1.28	+0.23
Calmar ratio: Return relative to maximum drawdown	7.03	3.12	+3.91
Martin ratio: Return relative to average drawdown	23.62	7.24	+16.38

VFLO vs. GDMA - Sharpe Ratio Comparison

The current VFLO Sharpe Ratio is 2.94, which is higher than the GDMA Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of VFLO and GDMA, 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

VFLO vs. GDMA - Drawdown Comparison

The maximum VFLO drawdown since its inception was -17.79%, which is greater than GDMA's maximum drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for VFLO and GDMA.

Drawdown Indicators

	VFLO	GDMA	Difference
Max Drawdown Largest peak-to-trough decline	-17.79%	-16.66%	-1.13%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-7.53%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-17.79%	-7.53%	-10.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-12.74%	—
Current Drawdown Current decline from peak	-0.96%	-3.21%	+2.25%
Average Drawdown Average peak-to-trough decline	-2.43%	-3.79%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	3.24%	-1.33%

Volatility

VFLO vs. GDMA - Volatility Comparison

VictoryShares Free Cash Flow ETF (VFLO) has a higher volatility of 4.11% compared to Gadsden Dynamic Multi-Asset ETF (GDMA) at 3.27%. This indicates that VFLO's price experiences larger fluctuations and is considered to be riskier than GDMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFLO	GDMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	3.27%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	12.12%	13.20%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	15.80%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	10.24%	+5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.98%	11.39%	+4.59%

VFLO vs. GDMA - Expense Ratio Comparison

VFLO has a 0.39% expense ratio, which is lower than GDMA's 0.77% expense ratio.

Dividends

VFLO vs. GDMA - Dividend Comparison

VFLO's dividend yield for the trailing twelve months is around 1.07%, less than GDMA's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GDMA Gadsden Dynamic Multi-Asset ETF	2.53%	2.79%	2.32%	4.14%	1.18%	2.10%	0.62%	3.17%
VFLO VictoryShares Free Cash Flow ETF	1.07%	1.60%	1.20%	0.71%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VFLO and GDMA in my portfolio?

VFLO and GDMA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFLO or GDMA?

VFLO has higher volatility (4.11%) compared to GDMA (3.27%). In terms of maximum drawdown, VFLO dropped -17.79% vs GDMA's -16.66%.

Which ETF is better, VFLO or GDMA?

On 3-year performance, VFLO leads with 24.37% vs 16.04% for GDMA. On fees, VFLO is cheaper at 0.39% per year. On volatility, GDMA has been the lower-risk option at 3.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VFLO or GDMA?

Over the 3-year period, VFLO has performed better with a 24.37% return vs 16.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VFLO or GDMA?

VFLO is cheaper with a 0.39% expense ratio, compared with 0.77% for GDMA.

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

GDMA has the higher dividend yield at 2.53%, compared with 1.07% for VFLO.

What is the main difference between VFLO and GDMA?

VFLO is categorized as Large Cap Value Equities, while GDMA is Global Allocation. They also come from different issuers: Victory and Gadsden. Their fees differ too: 0.39% for VFLO and 0.77% for GDMA.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (2.94 vs 1.49), 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.