VFLO vs. HFCVX

Last updated Jun 26, 2026

VFLO (VictoryShares Free Cash Flow ETF) and HFCVX (Hennessy Cornerstone Value Fund) are both Large Cap Value Equities funds. Over the past 3 years, VFLO returned 24.07%/yr vs 15.60%/yr for HFCVX. A 0.68 correlation means they provide meaningful diversification when combined. VFLO charges 0.39%/yr vs 1.23%/yr for HFCVX.

Performance

VFLO vs. HFCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Free Cash Flow ETF (VFLO) and Hennessy Cornerstone Value Fund (HFCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFLO achieves a 16.06% return, which is significantly higher than HFCVX's 11.32% return.

VFLO

• 1D: 0.11%
• 1M: 2.72%
• YTD: 16.06%
• 6M: 15.01%
• 1Y: 32.39%
• 3Y*: 24.07%
• 5Y*: —
• 10Y*: —

HFCVX

• 1D: -0.96%
• 1M: -2.52%
• YTD: 11.32%
• 6M: 10.92%
• 1Y: 22.23%
• 3Y*: 15.60%
• 5Y*: 11.55%
• 10Y*: 11.20%

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

VFLO vs. HFCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VFLO VictoryShares Free Cash Flow ETF	16.06%	17.51%	21.83%	15.05%
HFCVX Hennessy Cornerstone Value Fund	11.32%	18.27%	9.59%	5.48%

Correlation

The correlation between VFLO and HFCVX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.68

The correlation between VFLO and HFCVX shifts across timeframes, from 0.49 (1 year) to 0.68 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VFLO vs. HFCVX — Risk / Return Rank

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

VFLO

VFLO Risk / Return Rank: 81
VFLO Sharpe Ratio Rank: 76
VFLO Sortino Ratio Rank: 77
VFLO Omega Ratio Rank: 72
VFLO Calmar Ratio Rank: 91
VFLO Martin Ratio Rank: 87

HFCVX

HFCVX Risk / Return Rank: 85
HFCVX Sharpe Ratio Rank: 82
HFCVX Sortino Ratio Rank: 81
HFCVX Omega Ratio Rank: 72
HFCVX Calmar Ratio Rank: 97
HFCVX 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.

VFLO vs. HFCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Free Cash Flow ETF (VFLO) and Hennessy Cornerstone Value Fund (HFCVX). 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	HFCVX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.29	-0.21
Sortino ratio: Return per unit of downside risk	2.97	3.27	-0.30
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	5.05	5.73	-0.68
Martin ratio: Return relative to average drawdown	16.09	16.31	-0.22

VFLO vs. HFCVX - Sharpe Ratio Comparison

The current VFLO Sharpe Ratio is 2.08, which is comparable to the HFCVX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of VFLO and HFCVX, 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. HFCVX - Drawdown Comparison

The maximum VFLO drawdown since its inception was -17.79%, smaller than the maximum HFCVX drawdown of -65.75%. Use the drawdown chart below to compare losses from any high point for VFLO and HFCVX.

Drawdown Indicators

	VFLO	HFCVX	Difference
Max Drawdown Largest peak-to-trough decline	-17.79%	-65.75%	+47.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-3.77%	-2.67%
Max Drawdown (3Y) Largest decline over 3 years	-17.79%	-11.32%	-6.47%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.39%	—
Current Drawdown Current decline from peak	-5.36%	-3.35%	-2.01%
Average Drawdown Average peak-to-trough decline	-2.46%	-8.22%	+5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	1.32%	+0.70%

Volatility

VFLO vs. HFCVX - Volatility Comparison

VictoryShares Free Cash Flow ETF (VFLO) has a higher volatility of 7.39% compared to Hennessy Cornerstone Value Fund (HFCVX) at 3.14%. This indicates that VFLO's price experiences larger fluctuations and is considered to be riskier than HFCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFLO	HFCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	3.14%	+4.25%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	7.07%	+4.78%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	9.43%	+6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	13.24%	+2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	16.40%	-0.38%

VFLO vs. HFCVX - Expense Ratio Comparison

VFLO has a 0.39% expense ratio, which is lower than HFCVX's 1.23% expense ratio.

Dividends

VFLO vs. HFCVX - Dividend Comparison

VFLO's dividend yield for the trailing twelve months is around 1.16%, less than HFCVX's 6.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFCVX Hennessy Cornerstone Value Fund	6.64%	7.39%	4.56%	3.57%	10.33%	4.81%	2.58%	6.58%	17.16%	14.97%	2.26%	2.57%
VFLO VictoryShares Free Cash Flow ETF	1.16%	1.60%	1.20%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VFLO and HFCVX in my portfolio?

VFLO and HFCVX have a correlation of 0.49, 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 HFCVX?

VFLO has higher volatility (7.39%) compared to HFCVX (3.14%). In terms of maximum drawdown, VFLO dropped -17.79% vs HFCVX's -65.75%.

Which has better risk-adjusted returns?

HFCVX currently has the higher Sharpe Ratio (2.29 vs 2.08), 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.