VFLO vs. USCF

Last updated Jun 5, 2026

VFLO (Victoryshares Free Cash Flow ETF) and USCF (Themes US Cash Flow Champions ETF) are both Large Cap Value Equities funds - VFLO tracks the Victory U.S. Large Cap Free Cash Flow Index while USCF tracks the Solactive US Cash Flow Champions Index - Benchmark TR Gross. Both are passively managed. Over the past year, VFLO returned 39.65% vs 18.96% for USCF. A 0.76 correlation means they provide meaningful diversification when combined. VFLO charges 0.39%/yr vs 0.29%/yr for USCF.

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.

Returns By Period

In the year-to-date period, VFLO achieves a 20.78% return, which is significantly higher than USCF's 5.32% return.

VFLO

• 1D: 0.57%
• 1M: 10.20%
• YTD: 20.78%
• 6M: 21.57%
• 1Y: 39.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCF

• 1D: 1.27%
• 1M: 1.88%
• YTD: 5.32%
• 6M: 5.78%
• 1Y: 18.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VFLO vs. USCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VFLO Victoryshares Free Cash Flow ETF	20.78%	17.51%	21.83%	1.34%
USCF Themes US Cash Flow Champions ETF	5.32%	15.71%	17.65%	2.14%

Correlation

The correlation between VFLO and USCF is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.76

The correlation between VFLO and USCF shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

VFLO vs. USCF - Sectors Allocation Comparison

Sectors	VFLO	USCF
Technology	38.4%	9.7%
Healthcare	17.9%	16.6%
Consumer Cyclical	17.2%	2.7%
Energy	12.2%	21.1%
Communication Services	4.7%	0.6%
Basic Materials	4.3%	1.7%
Industrials	3.4%	0.4%
Utilities	1.7%	-
Financial Services	0.0%	43.1%
Consumer Defensive	0.0%	3.4%
Real Estate	0.0%	0.1%

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: 87
VFLO Sharpe Ratio Rank: 83
VFLO Sortino Ratio Rank: 86
VFLO Omega Ratio Rank: 79
VFLO Calmar Ratio Rank: 95
VFLO Martin Ratio Rank: 93

USCF

USCF Risk / Return Rank: 51
USCF Sharpe Ratio Rank: 42
USCF Sortino Ratio Rank: 41
USCF Omega Ratio Rank: 44
USCF Calmar Ratio Rank: 68
USCF Martin Ratio Rank: 57

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	2.66	1.48	+1.18
Sortino ratio: Return per unit of downside risk	3.83	2.08	+1.75
Omega ratio: Gain probability vs. loss probability	1.47	1.28	+0.19
Calmar ratio: Return relative to maximum drawdown	8.00	3.31	+4.69
Martin ratio: Return relative to average drawdown	24.33	9.99	+14.34
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 2.66, which is higher than the USCF Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of VFLO and USCF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VFLO	USCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	1.48	+1.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.65	1.11	+0.54

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	-4.98%	-5.75%	+0.77%
Current Drawdown Current decline from peak	-1.52%	0.00%	-1.52%
Average Drawdown Average peak-to-trough decline	-2.42%	-2.22%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.90%	-0.27%

Volatility

VFLO vs. USCF - Volatility Comparison

Victoryshares Free Cash Flow ETF (VFLO) has a higher volatility of 6.02% compared to Themes US Cash Flow Champions ETF (USCF) at 2.78%. This indicates that VFLO's price experiences larger fluctuations and is considered to be riskier 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	6.02%	2.78%	+3.24%
Volatility (6M) Calculated over the trailing 6-month period	11.05%	10.14%	+0.91%
Volatility (1Y) Calculated over the trailing 1-year period	14.98%	12.86%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.93%	15.16%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.93%	15.16%	+0.77%

VFLO vs. USCF - Expense Ratio Comparison

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

Dividends

VFLO vs. USCF - Dividend Comparison

VFLO's dividend yield for the trailing twelve months is around 1.18%, less than USCF's 1.74% yield.

Position	TTM	2025	2024	2023
USCF Themes US Cash Flow Champions ETF	1.74%	1.84%	1.19%	0.00%
VFLO Victoryshares Free Cash Flow ETF	1.18%	1.60%	1.20%	0.71%

Frequently Asked Questions

Can I hold both VFLO and USCF in my portfolio?

VFLO and USCF have a correlation of 0.64, 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 USCF?

VFLO has higher volatility (6.02%) compared to USCF (2.78%). In terms of maximum drawdown, VFLO dropped -17.79% vs USCF's -16.67%.

Which ETF is better, VFLO or USCF?

On 1-year performance, VFLO leads with 39.65% vs 18.96% for USCF. On fees, USCF is cheaper at 0.29% per year. On volatility, USCF has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VFLO or USCF?

Over the 1-year period, VFLO has performed better with a 39.65% return vs 18.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VFLO or USCF?

USCF is cheaper with a 0.29% expense ratio, compared with 0.39% for VFLO.

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

USCF has the higher dividend yield at 1.74%, compared with 1.18% for VFLO.

What is the main difference between VFLO and USCF?

VFLO tracks Victory U.S. Large Cap Free Cash Flow Index, while USCF tracks Solactive US Cash Flow Champions Index - Benchmark TR Gross. They also come from different issuers: Victory and Themes. Their fees differ too: 0.39% for VFLO and 0.29% for USCF.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (2.66 vs 1.48), 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.