VLU vs. VFLO

Last updated Aug 5, 2026

VLU (SPDR S&P 1500 Value Tilt ETF) and VFLO (VictoryShares Free Cash Flow ETF) are both Large Cap Value Equities funds - VLU tracks the S&P 1500 Low Valuation Tilt Index while VFLO tracks the Victory U.S. Large Cap Free Cash Flow Index. Both are passively managed. Over the past 3 years, VLU returned 20.17%/yr vs 25.68%/yr for VFLO. Their correlation of 0.83 means they have usually moved in the same direction. VLU charges 0.12%/yr vs 0.39%/yr for VFLO.

Performance

VLU vs. VFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 1500 Value Tilt ETF (VLU) and VictoryShares Free Cash Flow ETF (VFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLU achieves a 19.00% return, which is significantly lower than VFLO's 28.74% return.

VLU

• 1D: 1.12%
• 1M: 3.66%
• 6M: 12.67%
• YTD: 19.00%
• 1Y: 31.34%
• 3Y*: 20.17%
• 5Y*: 13.37%
• 10Y*: 14.17%
• ALL TIME*: 13.95%

VFLO

• 1D: 1.00%
• 1M: 7.50%
• 6M: 29.96%
• YTD: 28.74%
• 1Y: 47.50%
• 3Y*: 25.68%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.26%

*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)
VFLO VictoryShares Free Cash Flow ETF	$92.86M	$75.67M	$53.99M
VLU SPDR S&P 1500 Value Tilt ETF	$1.43M	$1.32M	$1.58M

VLU vs. VFLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VLU SPDR S&P 1500 Value Tilt ETF	19.00%	16.70%	17.24%	11.13%
VFLO VictoryShares Free Cash Flow ETF	28.74%	17.51%	21.83%	15.05%

Correlation

The correlation between VLU and VFLO is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.83

The correlation between VLU and VFLO has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.

VLU vs. VFLO - Sectors Allocation Comparison

Sectors	VLU	VFLO
Financial Services	19.3%	0.0%
Technology	18.4%	30.4%
Healthcare	12.3%	21.6%
Consumer Cyclical	10.4%	10.8%
Industrials	8.8%	0.0%
Communication Services	8.0%	4.4%
Consumer Defensive	7.1%	0.0%
Energy	6.3%	22.6%
Utilities	3.6%	3.3%
Real Estate	3.5%	0.0%
Basic Materials	2.4%	7.0%

Return for Risk

VLU vs. VFLO — Risk / Return Rank

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

VLU

VLU Risk / Return Rank: 94
VLU Sharpe Ratio Rank: 95
VLU Sortino Ratio Rank: 94
VLU Omega Ratio Rank: 94
VLU Calmar Ratio Rank: 93
VLU Martin Ratio Rank: 95

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

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.

VLU vs. VFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Value Tilt ETF (VLU) and VictoryShares Free Cash Flow ETF (VFLO). 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.

	VLU	VFLO	Difference
Sharpe ratio: Return per unit of total volatility	2.92	3.10	-0.18
Sortino ratio: Return per unit of downside risk	4.03	4.31	-0.27
Omega ratio: Gain probability vs. loss probability	1.55	1.55	0.00
Calmar ratio: Return relative to maximum drawdown	4.97	7.41	-2.44
Martin ratio: Return relative to average drawdown	20.62	24.89	-4.28

VLU vs. VFLO - Sharpe Ratio Comparison

The current VLU Sharpe Ratio is 2.92, which is comparable to the VFLO Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of VLU and VFLO, 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

VLU vs. VFLO - Drawdown Comparison

The maximum VLU drawdown since its inception was -37.39%, which is greater than VFLO's maximum drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for VLU and VFLO.

Drawdown Indicators

	VLU	VFLO	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-17.79%	-19.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.34%	-6.44%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-16.22%	-17.79%	+1.57%
Max Drawdown (5Y) Largest decline over 5 years	-19.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.39%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.70%	-2.42%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	1.91%	-0.39%

Volatility

VLU vs. VFLO - Volatility Comparison

The current volatility for SPDR S&P 1500 Value Tilt ETF (VLU) is 2.92%, while VictoryShares Free Cash Flow ETF (VFLO) has a volatility of 3.89%. This indicates that VLU experiences smaller price fluctuations and is considered to be less risky than VFLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLU	VFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.89%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	12.15%	-4.44%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	15.40%	-4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	15.97%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.98%	15.97%	+2.01%

VLU vs. VFLO - Expense Ratio Comparison

VLU has a 0.12% expense ratio, which is lower than VFLO's 0.39% expense ratio.

Dividends

VLU vs. VFLO - Dividend Comparison

VLU's dividend yield for the trailing twelve months is around 1.56%, more than VFLO's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFLO VictoryShares Free Cash Flow ETF	1.06%	1.60%	1.20%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VLU SPDR S&P 1500 Value Tilt ETF	1.56%	1.82%	2.00%	2.02%	2.16%	1.86%	1.98%	2.19%	2.57%	1.96%	2.14%	6.37%

Frequently Asked Questions

Can I hold both VLU and VFLO in my portfolio?

VLU and VFLO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLU or VFLO?

VFLO has higher volatility (3.89%) compared to VLU (2.92%). In terms of maximum drawdown, VLU dropped -37.39% vs VFLO's -17.79%.

Which ETF is better, VLU or VFLO?

On 3-year performance, VFLO leads with 25.68% vs 20.17% for VLU. On fees, VLU is cheaper at 0.12% per year. On volatility, VLU has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLU or VFLO?

Over the 3-year period, VFLO has performed better with a 25.68% return vs 20.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLU or VFLO?

VLU is cheaper with a 0.12% expense ratio, compared with 0.39% for VFLO.

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

VLU has the higher dividend yield at 1.56%, compared with 1.06% for VFLO.

What is the main difference between VLU and VFLO?

VLU tracks S&P 1500 Low Valuation Tilt Index, while VFLO tracks Victory U.S. Large Cap Free Cash Flow Index. They also come from different issuers: State Street and Victory. Their fees differ too: 0.12% for VLU and 0.39% for VFLO.

Which has better risk-adjusted returns?

VFLO currently has the higher Sharpe Ratio (3.10 vs 2.92), 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.