VFLO vs. HYMB
VFLO (VictoryShares Free Cash Flow ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond 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 HYMB is a Municipal Bonds fund tracking the ICE US Select High Yield Crossover Municipal Index. Both are passively managed. Over the past 3 years, VFLO returned 23.47%/yr vs 4.45%/yr for HYMB. At a 0.15 correlation, their price movements are largely independent. VFLO charges 0.39%/yr vs 0.35%/yr for HYMB.
Performance
VFLO vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, VFLO achieves a 21.88% return, which is significantly higher than HYMB's 3.11% return.
VFLO
- 1D
- 0.02%
- 1M
- 5.71%
- 6M
- 21.18%
- YTD
- 21.88%
- 1Y
- 38.13%
- 3Y*
- 23.47%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 25.42%
HYMB
- 1D
- -0.14%
- 1M
- -0.32%
- 6M
- 2.05%
- YTD
- 3.11%
- 1Y
- 8.78%
- 3Y*
- 4.45%
- 5Y*
- 0.18%
- 10Y*
- 2.27%
- ALL TIME*
- 4.39%
VFLO vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VFLO VictoryShares Free Cash Flow ETF | 21.88% | 17.51% | 21.83% | 15.05% |
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 3.11% | 2.04% | 5.52% | 3.62% |
Correlation
The correlation between VFLO and HYMB is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | 0.15 |
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Return for Risk
VFLO vs. HYMB — Risk / Return Rank
VFLO
HYMB
VFLO vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares Free Cash Flow ETF (VFLO) and State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB). 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 | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.47 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.95 | 2.84 | +3.11 |
| Martin ratioReturn relative to average drawdown | 18.53 | 12.79 | +5.74 |
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Drawdowns
VFLO vs. HYMB - Drawdown Comparison
The maximum VFLO drawdown since its inception was -17.79%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for VFLO and HYMB.
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Drawdown Indicators
| VFLO | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.79% | -29.57% | +11.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.44% | -3.11% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -17.79% | -7.44% | -10.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.93% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -3.78% | +1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.69% | +1.37% |
Volatility
VFLO vs. HYMB - Volatility Comparison
VictoryShares Free Cash Flow ETF (VFLO) has a higher volatility of 3.23% compared to State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) at 0.84%. This indicates that VFLO's price experiences larger fluctuations and is considered to be riskier than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFLO | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 0.84% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 3.17% | +8.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.58% | 3.97% | +11.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 6.67% | +9.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.97% | 11.36% | +4.61% |
VFLO vs. HYMB - Expense Ratio Comparison
VFLO has a 0.39% expense ratio, which is higher than HYMB's 0.35% expense ratio.
Dividends
VFLO vs. HYMB - Dividend Comparison
VFLO's dividend yield for the trailing twelve months is around 1.12%, less than HYMB's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 4.55% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
VFLO VictoryShares Free Cash Flow ETF | 1.12% | 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
VFLO and HYMB have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFLO has higher volatility (3.23%) compared to HYMB (0.84%). In terms of maximum drawdown, VFLO dropped -17.79% vs HYMB's -29.57%.
On 3-year performance, VFLO leads with 23.47% vs 4.45% for HYMB. On fees, HYMB is cheaper at 0.35% per year. On volatility, HYMB has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VFLO has performed better with a 23.47% return vs 4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYMB is cheaper with a 0.35% expense ratio, compared with 0.39% for VFLO.
HYMB has the higher dividend yield at 4.55%, compared with 1.12% for VFLO.
VFLO is categorized as Large Cap Value Equities, while HYMB is Municipal Bonds. VFLO tracks Victory U.S. Large Cap Free Cash Flow Index, while HYMB tracks ICE US Select High Yield Crossover Municipal Index. They also come from different issuers: Victory and State Street. Their fees differ too: 0.39% for VFLO and 0.35% for HYMB.
VFLO currently has the higher Sharpe Ratio (2.46 vs 2.22), 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.
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