VFLO vs. USCF

Last updated Apr 1, 2026

Compare and contrast key facts about Victoryshares Free Cash Flow ETF (VFLO) and Themes US Cash Flow Champions ETF (USCF).

VFLO and USCF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VFLO is a passively managed fund by Victory that tracks the performance of the Victory U.S. Large Cap Free Cash Flow Index. It was launched on Jun 21, 2023. USCF is a passively managed fund by Themes that tracks the performance of the Solactive US Cash Flow Champions Index - Benchmark TR Gross. It was launched on Dec 12, 2023. Both VFLO and USCF 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

VFLO vs. USCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victoryshares Free Cash Flow ETF (VFLO) and Themes US Cash Flow Champions ETF (USCF). The values are adjusted to include any dividend payments, if applicable.

VFLO vs. USCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VFLO Victoryshares Free Cash Flow ETF	0.38%	17.51%	21.83%	1.34%
USCF Themes US Cash Flow Champions ETF	1.34%	15.71%	17.65%	2.14%

Returns By Period

In the year-to-date period, VFLO achieves a 0.38% return, which is significantly lower than USCF's 1.34% return.

VFLO

• 1D: 2.23%
• 1M: -2.35%
• YTD: 0.38%
• 6M: 5.99%
• 1Y: 16.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCF

• 1D: 1.31%
• 1M: -0.21%
• YTD: 1.34%
• 6M: 3.72%
• 1Y: 12.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VFLO vs. USCF - Expense Ratio Comparison

VFLO has a 0.39% expense ratio, which is higher than USCF's 0.29% expense ratio.

VFLO

Victoryshares Free Cash Flow ETF

USCF

Themes US Cash Flow Champions ETF

Return for Risk

VFLO vs. USCF — Risk / Return Rank

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

VFLO

VFLO Risk / Return Rank: 56
VFLO Sharpe Ratio Rank: 51
VFLO Sortino Ratio Rank: 54
VFLO Omega Ratio Rank: 52
VFLO Calmar Ratio Rank: 56
VFLO Martin Ratio Rank: 65

USCF

USCF Risk / Return Rank: 39
USCF Sharpe Ratio Rank: 36
USCF Sortino Ratio Rank: 35
USCF Omega Ratio Rank: 39
USCF Calmar Ratio Rank: 40
USCF Martin Ratio Rank: 47

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. USCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victoryshares Free Cash Flow ETF (VFLO) and Themes US Cash Flow Champions ETF (USCF). 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.

	VFLO	USCF	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.68	+0.18
Sortino ratio Return per unit of downside risk	1.34	1.01	+0.33
Omega ratio Gain probability vs. loss probability	1.19	1.16	+0.03
Calmar ratio Return relative to maximum drawdown	1.30	1.02	+0.28
Martin ratio Return relative to average drawdown	6.12	4.48	+1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFLO vs. USCF - Sharpe Ratio Comparison

The current VFLO Sharpe Ratio is 0.86, which is comparable to the USCF Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of VFLO and USCF, 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

	VFLO	USCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.68	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	1.05	+0.21

Correlation

The correlation between VFLO and USCF is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VFLO vs. USCF - Dividend Comparison

VFLO's dividend yield for the trailing twelve months is around 1.42%, less than USCF's 1.81% yield.

	TTM	2025	2024	2023
VFLO Victoryshares Free Cash Flow ETF	1.42%	1.60%	1.20%	0.71%
USCF Themes US Cash Flow Champions ETF	1.81%	1.84%	1.19%	0.00%

Drawdowns

VFLO vs. USCF - Drawdown Comparison

The maximum VFLO drawdown since its inception was -17.79%, which is greater than USCF's maximum drawdown of -16.67%. Use the drawdown chart below to compare losses from any high point for VFLO and USCF.

Drawdown Indicators

	VFLO	USCF	Difference
Max Drawdown Largest peak-to-trough decline	-17.79%	-16.67%	-1.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.49%	-14.16%	+0.67%
Current Drawdown Current decline from peak	-2.66%	-2.49%	-0.17%
Average Drawdown Average peak-to-trough decline	-2.52%	-2.28%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.23%	-0.37%

Volatility

VFLO vs. USCF - Volatility Comparison

The current volatility for Victoryshares Free Cash Flow ETF (VFLO) is 4.34%, while Themes US Cash Flow Champions ETF (USCF) has a volatility of 5.48%. This indicates that VFLO experiences smaller price fluctuations and is considered to be less risky than USCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFLO	USCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	5.48%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	10.69%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	19.67%	18.77%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	15.52%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.76%	15.52%	+0.24%