Category Review
Cash-flow quality returned 42% while QUAL returned 17%
VictoryShares Small Cap Free Cash Flow ETF
$38.79+0.29 (+0.75%)
- 0.56%
- $822M
- +40.0%
- 0.75%
- 0.1M sh
- $38.44
- low $27.45high $42.00
The ETF.net SFLO Grade
C
Score 47 out of 100
- 19 of 26
Score 47 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F20 out of 100Rank 21 of 26Mission
Whether the fund did what it promised, tested against its stated mandate.B66 out of 100Rank 13 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 14 of 26Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C50 out of 100Rank 14 of 26Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A83 out of 100Rank 3 of 26Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C51 out of 100Rank 14 of 26
Our read on SFLO
CSmall caps are famous for companies that lose money. SFLO screens that universe for free cash flow and growth, then holds roughly 200 names, and it pays out monthly.
The Fund seeks to track, before fees and expenses, the Victory U.S. Small Cap Free Cash Flow Index. It normally emphasizes U.S. small-cap equity securities selected through a rules-based free-cash-flow and growth methodology.
Why people hold it
- The whole point: a rules-based screen that ranks U.S. small caps on free cash flow and growth, so the cash-burners that populate the broad small-cap benchmarks get filtered out.
- Roughly 200 stocks. Concentrated enough that the cash-flow screen actually shows up in the portfolio, broad enough that no single name runs the show.
- Pays monthly, which is rare in small-cap equity funds where quarterly is the norm.
- It tracks a published index rather than a stock-picker's hunches, so the rules are the same every rebalance.
Worth knowing
- The screen costs you: 0.56% a year, more than double the typical small-cap ETF, and many times what plain trackers like VB (0.03%), SCHA (0.03%) and IWM (0.19%) charge.
- Launched in December 2023, so the strategy has yet to be tested across a full market cycle.
- Trading is moderate rather than heavy, so spreads can be wider than the household-name small-cap funds, especially around the open and close.
SFLO Holdings
- Stocks
- 201
- 13%
- OSCR
Sectors
- Technology25.1%
- Energy18.1%
- Consumer Discretionary17.1%
- Health Care12.4%
- Industrials10.0%
- Communication9.2%
- Consumer Staples5.9%
- Materials1.1%
- Financials1.0%
Geography
- United States94.08%
- Bermuda3.55%
- Canada0.63%
- Luxembourg0.61%
- United Kingdom0.56%
- Israel0.39%
- Cayman Islands0.17%
SFLO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
SFLO$14,002
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SFLO |
|---|---|
| Year to date | +31.5% |
| 1 month | −1.0% |
| 3 months | +8.1% |
| 1 year | +40.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SFLO |
|---|---|---|
| 2026 YTD | +31.5% | |
| 2025 | +11.9% | |
| 2024 | +6.5% | |
| 2023 | −0.2% |
SFLO in the news
SFLO Dividends
- 0.75%
- $0.29
- $0.03 per share
- Monthly
Distribution history
SFLO Risk
- 17.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.70
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −26.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.91
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SFLO Cost
0.56%
SFLO0.56%
- The middle half of US Quality Index funds
- Median 0.39%
20 of the 26 US Quality Index funds charge less.
Other funds in US Quality Index
- CQOWZInvesco Nasdaq Free Cash Flow Achievers ETFExpense ratio 0.39%1 year return +5.5%
- CABFLAbacus FCF Leaders ETFExpense ratio 0.49%1 year return +17.4%
- CFTCEFirst Trust New Constructs Core Earnings Leaders ETFExpense ratio 0.60%1 year return +15.6%
- CQFRDPacer S&P 500 Quality FCF R&D Leaders ETFExpense ratio 0.49%1 year return —
- DTPFCThe Timothy Plan - Timothy Plan Free Cash Flow ETFExpense ratio 0.59%1 year return —