GFLW vs VUG: Grades, Fees and Holdings Compared

Victoryshares Free Cash Flow Growth ETF

GFLWCNasdaq

Vanguard Morningstar Growth ETF

VUGANYSE Arca

Overlap

23.1%by weight

Expense ratio

VUG −0.36pt a year

GFLW0.39%VUG0.03%

Avg volume · 30D

VUG 30.0×the volume

GFLW211KVUG6.32M

GFLW vs VUG Performance

Oct 31, 2025 – Oct 30, 2026

+7.7%GFLW+2.7%VUG

Expense ratio: GFLW 0.39%; VUG 0.03%, better
Fund size: GFLW $1.13B; VUG $392B
1Y total return: GFLW +7.7%, better; VUG +2.7%
Yield (12M): GFLW 0.36%; VUG 0.41%, better
Holdings: GFLW 101; VUG 136
Avg volume (30D): GFLW 211K sh; VUG 6.32M sh, better
NAV per share: GFLW $31.41; VUG $85.06
52W range

ETF.net Grade

Pillar letters and Scores for GFLW, VUG, with each pillar’s weight
Pillar	GFLW	VUG
Cost30% weight	F24	A96Higher
Mission25% weight	A100Higher	A99
Risk15% weight	D37	C49Higher
Tradability15% weight	C53	B65Higher
Holdings10% weight	B69Higher	D29
Durability5% weight	D25	A91Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. GFLW and VUG are both graded against the same 35 US Growth Index funds, so their Grades compare head to head.

US Growth Index⁠

Category · 35 funds

See all 35 ›

VUG ranks 5th and GFLW 24th of 35 funds in the US Growth Index Category.

Rank 2ASCHGSchwab U.S. Large-Cap Growth ETFScore 78
Rank 5AVUGVanguard Morningstar Growth ETFScore 77
Rank 6AVBKVanguard Morningstar Small-Cap Growth ETFScore 72
Rank 24CEGUSiShares ESG Aware MSCI USA Growth ETFScore 53
Rank 24CGFLWVictoryshares Free Cash Flow Growth ETFScore 53
Rank 26CPWBInvesco Large Cap Growth ETFScore 52

Our read on each fund

ETF.net Research

GFLWCVictoryshares Free Cash Flow Growth ETF

VUGAVanguard Morningstar Growth ETF

In short

GFLW No data

VUG Three basis points buys roughly 170 US large-cap growth names. Running since 2004, over $100 billion in assets, and it tracks its index about as closely as an index fund can.

Stated mandate

GFLW No data

VUG The fund seeks to track a benchmark index measuring the investment return of large-capitalization growth stocks.

Why people hold it

GFLW No data

VUG 0.03% a year against a 0.18% median for its growth peer group. A rival tracking the same declared index charges 0.36%, twelve times more for the same shopping list.vanguard.com
One of the largest and most heavily traded funds in US large-cap growth, and among the tightest index implementations in that group. Deep volume tends to mean thin spreads.
Trading since January 2004, so the record spans full market cycles rather than a backtest. Distributions land quarterly.

Worth knowing

GFLW No data

VUG Cap-weighted, so the biggest mega-caps dominate the top of the book. That makes it one of the more concentrated portfolios in this cohort.vanguard.com
A style sleeve, not the whole market: growth screens only, large caps only. When growth is out of favor it can swing harder than a total-market fund.
SPYG and SCHG sit at 0.04%, so the price edge is a rounding error. The real gap is how each index defines a growth stock.

Full GFLW profile⁠

Full VUG profile⁠

GFLW vs VUG Holdings

How GFLW and VUG differ

Overlap by weight

23.1%

Shared holdings make up 58.3% of GFLW and 36.9% of VUG.

Level by level

Holdings49 in both23.1%
Sector11 Sectors73.3%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in GFLW and VUG, widest gap first
Sector	More in GFLWMore in VUG	GFLW	VUG
Health Care	GFLW +14.9 points	19.1%	4.2%
Technology	VUG +13.9 points	46.3%	60.2%
Communication	VUG +7.2 points	7.5%	14.7%
Industrials	GFLW +6.9 points	11.3%	4.4%
Financials	VUG +3.7 points	0.2%	3.9%
Materials	GFLW +2.7 points	3.1%	0.4%
Consumer Discretionary	VUG +1.1 points	8.7%	9.8%
Utilities	GFLW +0.9 points	0.9%	0.0%
Real Estate	VUG +0.9 points	0.0%	0.9%
Energy	GFLW +0.7 points	1.0%	0.3%
Consumer Staples	GFLW +0.5 points	1.8%	1.3%

Country, concentration and asset class

Country by domicile

Country weights in GFLW and VUG, widest gap first
Country	More in GFLWMore in VUG	GFLW	VUG
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

GFLW27.6%
VUG63.1%

Securities held

GFLW100
VUG135

Asset class

GFLW: Equity
VUG: Equity

Holdings

Only in GFLW51
In both49
Only in VUG86

Only in GFLW

51 securities, 41.6% of GFLW by weight

Royalty Pharma PLC2.95%
Cardinal Health Inc2.92%
Caterpillar Inc2.66%
Newmont Corp2.12%
Mckesson Corp.1.81%
Intuit Inc1.65%
Keysight Technologies Inc1.31%
Spotify Technology SA1.25%
Incyte Pharmaceuticals1.20%
Viking Holdings Ltd1.16%
Uber Technologies Inc1.16%
Halozyme Therapeutics Inc1.12%
Roku Inc1.11%
Pinterest Inc1.05%
Tg Therapeutics Inc0.95%
Vistra Corp0.95%
Adobe Inc0.93%
Deckers Outdoor Corp0.84%
Brinker International0.76%
Viper Energy Inc0.71%
Jabil Inc0.71%
Maplebear Inc0.66%
Draftkings Inc0.66%
Salesforce Inc0.65%
Trane Technologies PLC0.65%
Medpace Holdings Inc0.61%
Coeur Mining Inc0.56%
Macom Technology Solution0.56%
Emcor Group Inc.0.52%
Sterling Infrastructure0.49%
Everpure Inc0.49%
Neurocrine Biosciences In0.46%
Hubspot Inc0.46%
New York Times Co/The0.45%
Wayfair Inc0.44%
Docusign Inc0.42%
Armstrong World Industrie0.41%
Ies Holdings Inc0.40%
Corcept Therapeutics Inc0.36%
Nextpower Inc -Cl A0.30%
Credo Technology Group Ho0.30%
Rubrik Inc0.28%
Paycom Software Inc0.27%
Dynatrace Inc0.27%
Elastic NV0.25%
Nutanix Inc - A0.25%
Gitlab Inc0.24%
Interdigital Inc.0.24%
Manhattan Associates Inc0.23%
Circle Internet Group Inc0.21%

Only in VUG

86 securities, 63.1% of VUG by weight

Apple Inc12.51%
Microsoft Corp9.75%
Alphabet Inc5.16%
Amazon.com Inc4.26%
Meta Platforms Inc4.23%
Alphabet Inc4.09%
Advanced Micro Devices Inc2.66%
Tesla Inc2.65%
Visa Inc1.59%
Intel Corp1.45%
Mastercard Inc1.16%
Costco Wholesale Corp1.09%
Oracle Corp0.65%
Marvell Technology Inc0.64%
Welltower Inc0.46%
General Electric Co0.45%
TJX Cos Inc/The0.41%
Boeing Co/The0.41%
Vertex Pharmaceuticals Inc0.37%
Texas Instruments Inc0.36%
Corning Inc0.34%
Cloudflare Inc0.33%
Starbucks Corp0.30%
Equinix Inc0.29%
Quanta Services Inc0.28%
Space Exploration Technologies Corp0.26%
Robinhood Markets Inc0.26%
Lumentum Holdings Inc0.26%
Synopsys Inc0.25%
McDonald's Corp0.24%
Bloom Energy Corp0.23%
Ecolab Inc0.21%
O'Reilly Automotive Inc0.21%
Moody's Corp0.20%
Teradyne Inc0.19%
TransDigm Group Inc0.18%
Targa Resources Corp0.18%
Fastenal Co0.18%
Coherent Corp0.17%
WW Grainger Inc0.17%
Ciena Corp0.16%
AutoZone Inc0.15%
Rocket Lab Corp0.14%
Carvana Co0.13%
Blackstone Inc0.13%
Coinbase Global Inc0.13%
Chipotle Mexican Grill Inc0.13%
Block Inc0.13%
Take-Two Interactive Software Inc0.13%
Waste Connections Inc0.13%

Weight gaps

All 49 Holdings in both funds, largest gap first.

Holding weights in GFLW and VUG, widest gap first
Holding	More in GFLWMore in VUG	GFLW	VUG
NVIDIA Corp.NVDA	VUG +10.22 points	3.27%	13.49%
Broadcom IncAVGO	VUG +3.05 points	1.29%	4.34%
Dell Technologies IncDELL	GFLW +2.39 points	2.62%	0.23%
Eli Lilly & CoLLY	GFLW +2.14 points	4.74%	2.60%
Sandisk Corp/DeSNDK	GFLW +1.71 points	2.41%	0.70%
Monster Beverage CorpMNST	GFLW +1.71 points	1.88%	0.17%
Vertiv Holdings CoVRT	GFLW +1.51 points	1.78%	0.27%
Western Digital Corp.WDC	GFLW +1.41 points	1.85%	0.44%
Airbnb IncABNB	GFLW +1.41 points	1.61%	0.20%
Marriott Int'l Inc - Class AMAR	GFLW +1.34 points	1.56%	0.22%
Comfort Systems Usa Inc.FIX	GFLW +1.27 points	1.45%	0.18%
Ge Vernova LlcGEV	GFLW +1.17 points	1.86%	0.69%
Seagate Technology HoldSTX	GFLW +1.16 points	1.74%	0.58%
Fortinet IncFTNT	GFLW +1.16 points	1.48%	0.32%
Netflix Inc.NFLX	GFLW +1.05 points	1.83%	0.78%
Howmet Aerospace IncHWM	GFLW +0.98 points	1.24%	0.26%
Applied Materials IncAMAT	GFLW +0.90 points	2.00%	1.10%
Lam Research CorpLRCX	GFLW +0.78 points	1.89%	1.11%
Autodesk Inc.ADSK	GFLW +0.74 points	0.88%	0.14%
Hilton Worldwide HldHLT	GFLW +0.74 points	0.95%	0.21%
Amphenol Corp. - Class AAPH	GFLW +0.72 points	1.29%	0.57%
Intuitive Surgical Inc.ISRG	GFLW +0.69 points	1.10%	0.41%
Crowdstrike Holdings Inc-CRWD	GFLW +0.67 points	1.38%	0.71%
Zscaler IncZS	GFLW +0.65 points	0.74%	0.09%
Booking Holdings IncBKNG	GFLW +0.62 points	0.96%	0.34%
Kla CorpKLAC	GFLW +0.61 points	1.31%	0.70%
Palo Alto Networks IncPANW	GFLW +0.61 points	1.49%	0.88%
Idexx Laboratories IncIDXX	GFLW +0.59 points	0.72%	0.13%
Palantir Technologies IncPLTR	VUG +0.54 points	0.56%	1.10%
Datadog Inc-Class ADDOG	GFLW +0.48 points	0.75%	0.27%
Doordash IncDASH	GFLW +0.45 points	0.66%	0.21%
Tko Group Holdings IncTKO	GFLW +0.40 points	0.44%	0.04%
Snowflake IncSNOW	GFLW +0.40 points	0.72%	0.32%
Workday IncWDAY	GFLW +0.40 points	0.52%	0.12%
Monolithic Power SystemsMPWR	GFLW +0.39 points	0.58%	0.19%
Alnylam PharmaceuticalsALNY	GFLW +0.39 points	0.50%	0.11%
Cintas Corp.CTAS	GFLW +0.37 points	0.57%	0.20%
Veeva Systems IncVEEV	GFLW +0.36 points	0.50%	0.14%
Dexcom IncDXCM	GFLW +0.34 points	0.45%	0.11%
Applovin CorpAPP	GFLW +0.34 points	0.58%	0.24%
Fair Isaac Corp.FICO	GFLW +0.32 points	0.37%	0.05%
Cadence Design Sys. IncCDNS	GFLW +0.30 points	0.57%	0.27%
Reddit IncRDDT	GFLW +0.28 points	0.36%	0.08%
Atlassian Corp PLCTEAM	GFLW +0.27 points	0.37%	0.10%
Arista Networks IncANET	GFLW +0.23 points	0.83%	0.60%
Astera Labs IncALAB	GFLW +0.22 points	0.40%	0.18%
Motorola Solutions Inc.MSI	GFLW +0.21 points	0.43%	0.22%
Mongodb IncMDB	GFLW +0.17 points	0.26%	0.09%
Servicenow IncNOW	GFLW +0.15 points	0.54%	0.39%

All GFLW holdings⁠All 166 VUG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GFLW vs VUG Cost

Overpaying GFLW vs VUG

$7,260

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GFLW 0.39%
$7,898
VUG 0.03%
$638

Amount$10,000

Years30 years

Cost over time

GFLW 0.39%
VUG 0.03%
Overpaying

Year by year

Year	GFLW	VUG	Overpaying
10	$705	$55	$650
20	$2,725	$216	$2,509
30	$7,898	$638	$7,260

Expense ratio

0.39%GFLW
0.03%VUG, cheaper

VUG0.03%GFLW0.39%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

VUG cheapest of 35 funds

GFLW 27th cheapest of 35 funds

GFLW vs VUG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GFLW 0.36%; VUG 0.41%, better
Payout (12M): GFLW $0.11; VUG $0.35
Last payment: GFLW $0.11; VUG $0.09
Ex-dividend: GFLW Sep 9, 2026; VUG Sep 28, 2026
Paid on: GFLW Sep 10, 2026; VUG Sep 30, 2026
Frequency: GFLW Irregular; VUG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GFLWIrregular · 5 paymentsAll GFLW payments⁠

VUGQuarterly · 39 paymentsAll VUG payments⁠

GFLW vs VUG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GFLW 19.7%since Jan 2025VUG 17.3%
Return per unit of riskSharpe ratio, 3 years: GFLW 0.67since Jan 2025VUG 1.11
Worst fallMax drawdown, 5 years: GFLW −24.1%since Dec 2024VUG −35.6%
Market sensitivityBeta, 5 years: GFLW 1.25VUG 1.23; Market = 1

GFLW and VUG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026VUG
Head-to-Head
Own iShares Core S&P 500 ETF, IVV, unless you want the heavier growth bet in Vanguard Morningstar Growth ETF, VUG
Oct 16, 2026VUG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026VUG
Behind the Index
Oil rose 4.5% and the 10-year yield stood at 5% as two U.S. stocks fell for every one that rose
Sep 15, 2026VUG

Popular comparisons

GFLWCvsSPYGA
Victoryshares Free Cash Flow Growth ETF · State Street SPDR Portfolio S&P 500 Growth ETF
Expense ratio
0.39% · 0.04%
Category
VUGAvsSPYGA
Vanguard Morningstar Growth ETF · State Street SPDR Portfolio S&P 500 Growth ETF
Expense ratio
0.03% · 0.04%
Category
GFLWCvsILCGA
Victoryshares Free Cash Flow Growth ETF · iShares Morningstar Growth ETF
Expense ratio
0.39% · 0.04%
Category
VUGAvsILCGA
Vanguard Morningstar Growth ETF · iShares Morningstar Growth ETF
Expense ratio
0.03% · 0.04%
Category
GFLWCvsIMCGA
Victoryshares Free Cash Flow Growth ETF · iShares Morningstar Mid-Cap Growth ETF
Expense ratio
0.39% · 0.06%
Category
VUGAvsIMCGA
Vanguard Morningstar Growth ETF · iShares Morningstar Mid-Cap Growth ETF
Expense ratio
0.03% · 0.06%
Category

GFLW vs VUG

In short

Stated mandate

Why people hold it

Worth knowing

How GFLW and VUG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GFLW

Only in VUG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The best growth ETF is the cheap one on the index you want

Own iShares Core S&P 500 ETF, IVV, unless you want the heavier growth bet in Vanguard Morningstar Growth ETF, VUG

The cheap large-cap growth pick is the S&P 500 list

Oil rose 4.5% and the 10-year yield stood at 5% as two U.S. stocks fell for every one that rose