VTWG vs. FLQS

Last updated Jun 24, 2026

VTWG (Vanguard Russell 2000 Growth ETF) and FLQS (Franklin LibertyQ U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - VTWG tracks the Russell 2000 Growth Index while FLQS tracks the LibertyQ U.S. Small Cap Equity Index. Both are passively managed. Over the past 5 years, VTWG returned 5.29%/yr vs 5.91%/yr for FLQS. Their correlation of 0.82 suggests significant overlap in exposure. VTWG charges 0.06%/yr vs 0.35%/yr for FLQS.

Performance

VTWG vs. FLQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Growth ETF (VTWG) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWG achieves a 20.43% return, which is significantly higher than FLQS's 10.39% return.

VTWG

• 1D: -1.45%
• 1M: 4.36%
• YTD: 20.43%
• 6M: 16.97%
• 1Y: 40.10%
• 3Y*: 19.34%
• 5Y*: 5.29%
• 10Y*: 12.12%

FLQS

• 1D: 0.19%
• 1M: 4.28%
• YTD: 10.39%
• 6M: 8.67%
• 1Y: 18.23%
• 3Y*: 13.11%
• 5Y*: 5.91%
• 10Y*: —

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

VTWG vs. FLQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWG Vanguard Russell 2000 Growth ETF	20.43%	13.07%	15.15%	18.90%	-26.49%	2.84%	34.72%	28.75%	-9.45%	12.72%
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	10.39%	5.04%	8.34%	21.28%	-16.88%	26.58%	10.51%	18.34%	-5.86%	7.41%

Correlation

The correlation between VTWG and FLQS is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017	0.82

The correlation between VTWG and FLQS shifts across timeframes, from 0.78 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

VTWG vs. FLQS - Sectors Allocation Comparison

Sectors	VTWG	FLQS
Technology	25.8%	18.2%
Industrials	23.1%	16.0%
Healthcare	22.0%	9.9%
Financial Services	7.8%	12.7%
Consumer Cyclical	7.1%	15.0%
Basic Materials	4.0%	2.1%
Energy	3.1%	4.2%
Consumer Defensive	2.3%	7.8%
Communication Services	2.2%	1.8%
Real Estate	2.0%	6.7%
Utilities	0.6%	5.7%

Return for Risk

VTWG vs. FLQS — Risk / Return Rank

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

VTWG

VTWG Risk / Return Rank: 54
VTWG Sharpe Ratio Rank: 56
VTWG Sortino Ratio Rank: 54
VTWG Omega Ratio Rank: 48
VTWG Calmar Ratio Rank: 57
VTWG Martin Ratio Rank: 57

FLQS

FLQS Risk / Return Rank: 38
FLQS Sharpe Ratio Rank: 36
FLQS Sortino Ratio Rank: 38
FLQS Omega Ratio Rank: 34
FLQS Calmar Ratio Rank: 44
FLQS Martin Ratio Rank: 40

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.

VTWG vs. FLQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth ETF (VTWG) and Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS). 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.

	VTWG	FLQS	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.20	+0.61
Sortino ratio: Return per unit of downside risk	2.48	1.85	+0.63
Omega ratio: Gain probability vs. loss probability	1.30	1.21	+0.08
Calmar ratio: Return relative to maximum drawdown	2.71	2.03	+0.67
Martin ratio: Return relative to average drawdown	9.72	6.01	+3.71

VTWG vs. FLQS - Sharpe Ratio Comparison

The current VTWG Sharpe Ratio is 1.80, which is higher than the FLQS Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of VTWG and FLQS, 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

VTWG vs. FLQS - Drawdown Comparison

The maximum VTWG drawdown since its inception was -42.07%, roughly equal to the maximum FLQS drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for VTWG and FLQS.

Drawdown Indicators

	VTWG	FLQS	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-42.16%	+0.09%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-9.00%	-5.88%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-23.12%	-5.46%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-28.05%	-12.44%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	—	—
Current Drawdown Current decline from peak	-1.45%	-0.04%	-1.41%
Average Drawdown Average peak-to-trough decline	-10.50%	-7.97%	-2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	3.04%	+1.10%

Volatility

VTWG vs. FLQS - Volatility Comparison

Vanguard Russell 2000 Growth ETF (VTWG) has a higher volatility of 7.82% compared to Franklin LibertyQ U.S. Small Cap Equity ETF (FLQS) at 3.70%. This indicates that VTWG's price experiences larger fluctuations and is considered to be riskier than FLQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWG	FLQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.82%	3.70%	+4.12%
Volatility (6M) Calculated over the trailing 6-month period	16.92%	10.46%	+6.46%
Volatility (1Y) Calculated over the trailing 1-year period	22.34%	15.28%	+7.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	19.22%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	21.64%	+2.63%

VTWG vs. FLQS - Expense Ratio Comparison

VTWG has a 0.06% expense ratio, which is lower than FLQS's 0.35% expense ratio.

Dividends

VTWG vs. FLQS - Dividend Comparison

VTWG's dividend yield for the trailing twelve months is around 0.59%, less than FLQS's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF	1.30%	1.16%	1.29%	1.75%	1.40%	0.95%	1.20%	1.41%	1.27%	1.02%	0.00%	0.00%
VTWG Vanguard Russell 2000 Growth ETF	0.59%	0.64%	0.55%	0.79%	0.71%	0.54%	0.48%	0.72%	0.72%	0.64%	0.96%	0.72%

Frequently Asked Questions

Can I hold both VTWG and FLQS in my portfolio?

VTWG and FLQS have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWG or FLQS?

VTWG has higher volatility (7.82%) compared to FLQS (3.70%). In terms of maximum drawdown, VTWG dropped -42.07% vs FLQS's -42.16%.

Which ETF is better, VTWG or FLQS?

On 5-year performance, FLQS leads with 5.91% vs 5.29% for VTWG. On fees, VTWG is cheaper at 0.06% per year. On volatility, FLQS has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTWG or FLQS?

Over the 5-year period, FLQS has performed better with a 5.91% return vs 5.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTWG or FLQS?

VTWG is cheaper with a 0.06% expense ratio, compared with 0.35% for FLQS.

Which ETF pays a higher dividend yield, VTWG or FLQS?

FLQS has the higher dividend yield at 1.30%, compared with 0.59% for VTWG.

What is the main difference between VTWG and FLQS?

VTWG tracks Russell 2000 Growth Index, while FLQS tracks LibertyQ U.S. Small Cap Equity Index. They also come from different issuers: Vanguard and Franklin Templeton. Their fees differ too: 0.06% for VTWG and 0.35% for FLQS.

Which has better risk-adjusted returns?

VTWG currently has the higher Sharpe Ratio (1.80 vs 1.20), 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.