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QUAL vs SFLO

iShares MSCI USA Quality Factor ETF

QUALACboe

VictoryShares Small Cap Free Cash Flow ETF

SFLOCNasdaq

Overlap

Expense ratio

QUAL −0.34pt a year

QUAL0.15%SFLO0.49%

Avg volume · 30D

QUAL 24.9×the volume

QUAL4.28MSFLO172K

QUAL vs SFLO Performance

Nov 7, 2025 – Nov 9, 2026

+16.3%QUAL+37.8%SFLO

Nov 7, 2025 to Nov 9, 2026. QUAL +16.3%. SFLO +37.8%. Use the arrow keys to read each point.0%10%30%Nov 2025May 2026Nov 2026
Expense ratio
QUAL 0.15%, better
SFLO 0.49%
Fund size
QUAL $47.6B
SFLO $874M
1Y total return
QUAL +16.3%
SFLO +37.8%, better
Yield (12M)
QUAL No data
SFLO 0.88%
Holdings
QUAL 121
SFLO 200
Avg volume (30D)
QUAL 4.28M sh, better
SFLO 172K sh
NAV per share
QUAL $54.80
SFLO $38.18
52W range

ETF.net Grade

QUAL: Cost 84, Risk 74, Mission 95, Tradability 60, Holdings 37, Durability 96. SFLO: Cost 26, Risk 46, Mission 66, Tradability 51, Holdings 83, Durability 50.
Pillar letters and Scores for QUAL, SFLO, with each pillar’s weight
PillarQUALSFLO
Cost30% weightA84HigherD26
Mission25% weightA95HigherB66
Risk15% weightA74HigherC46
Tradability15% weightB60HigherC51
Holdings10% weightD37A83Higher
Durability5% weightA96HigherC50

Rank among US Quality Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. QUAL and SFLO are both graded against the same 26 US Quality Index funds, so their Grades compare head to head.

US Quality Index⁠

Category · 26 funds
See all 26 ›

QUAL ranks 2nd and SFLO 18th of 26 funds in the US Quality Index Category.

  1. Rank 1AJQUAJPMorgan U.S. Quality Factor ETFScore 81
  2. Rank 2AQUALiShares MSCI USA Quality Factor ETFScore 77
  3. Rank 3AFQALFidelity Quality Factor ETFScore 76
  4. Rank 17CLCOWPacer S&P 500 Quality FCF Aristocrats ETFScore 50
  5. Rank 18CSFLOVictoryShares Small Cap Free Cash Flow ETFScore 49
  6. Rank 19CABFLAbacus FCF Leaders ETFScore 44

Our read on each fund

ETF.net Research

QUALAiShares MSCI USA Quality Factor ETF

SFLOCVictoryShares Small Cap Free Cash Flow ETF

In short

QUAL QUAL screens US large and mid caps for high return on equity, low debt and steady earnings, then does it sector by sector, so the portfolio stays spread across the market instead of piling into whichever sector looks healthiest.

SFLO Small 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.

Stated mandate

QUAL The fund tracks an index of U.S. large- and mid-capitalization stocks selected for quality characteristics, including high return on equity, stable earnings, and low debt.

SFLO 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

  • QUAL At 0.15%, it undercuts the typical quality-factor fund, where the cohort median sits at 0.29%.
  • Sector neutral by design: companies are ranked on return on equity, leverage and earnings variability against rivals in their own GICS sector.msci.comishares.com
  • Running since 2013, now a $25B-$100B fund that trades actively, with returns that stay close to its index.
  • SFLO 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

  • QUAL About 120 large and mid caps, leaning on the same familiar giants as a broad US index fund. This is a tilt on core equity, not new ground.
  • Sector neutrality cuts both ways: it keeps a foot in every sector rather than stepping away from ones with weak fundamentals.msci.com
  • Cheap, not cheapest. JQUA (0.12%) and VFQY (0.13%) shave a basis point or three off the fee.
  • SFLO 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.

Full QUAL profile⁠

Full SFLO profile⁠

QUAL vs SFLO 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.

QUAL vs SFLO Cost

Overpaying SFLO vs QUAL

$6,655

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

  • QUAL 0.15%

    $3,137

  • SFLO 0.49%

    $9,792

$10,000
30 years

Cost over time

  • QUAL 0.15%
  • SFLO 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530SFLO $9,792QUAL $3,137

Year by year

YearQUALSFLOOverpaying
10$274$883$609
20$1,071$3,394$2,323
30$3,137$9,792$6,655

Expense ratio

  • 0.15%QUAL, cheaper
  • 0.49%SFLO
  • Middle half of US Quality Index funds
  • Median 0.39%

QUAL 3rd cheapest of 26 funds

SFLO 17th cheapest of 26 funds

QUAL vs SFLO Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QUAL No data
SFLO 0.88%
Payout (12M)
QUAL No data
SFLO $0.34
Last payment
QUAL $0.12
SFLO $0.06
Ex-dividend
QUAL Sep 15, 2026
SFLO Nov 6, 2026
Paid on
QUAL Sep 18, 2026
SFLO Nov 9, 2026
Frequency
QUAL Quarterly
SFLO Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

QUALQuarterly · 8 paymentsAll QUAL payments⁠
One bar per payment. 8 payments from 2023 to 2026 YTD. Mar 23, 2023 $0.09; Jun 7, 2023 $0.10; Sep 26, 2023 $0.13; Dec 20, 2023 $0.11; Dec 28, 2023 $0.02; Mar 21, 2024 $0.09; Jun 11, 2024 $0.09; Sep 15, 2026 $0.12. Use the arrow keys to read each point.$0$0.1020232026YTD
SFLOMonthly · 33 paymentsAll SFLO payments⁠
One bar per payment. 33 payments from 2023 to 2026 YTD. Feb 9, 2024 $0.01; Mar 11, 2024 $0.04; Apr 11, 2024 $0.04; May 9, 2024 $0.01; Jun 12, 2024 $0.06; Jul 10, 2024 $0.02; Aug 8, 2024 $0.002; Sep 11, 2024 $0.06; Oct 8, 2024 $0.02; Nov 7, 2024 $0.01; Dec 12, 2024 $0.08; Jan 8, 2025 $0.0023; Feb 7, 2025 $0.02; Mar 10, 2025 $0.04; Apr 10, 2025 $0.05; May 8, 2025 $0.02; Jun 9, 2025 $0.04; Jul 10, 2025 $0.02; Aug 6, 2025 $0.01; Sep 8, 2025 $0.03; Oct 9, 2025 $0.02; Nov 7, 2025 $0.0054; Dec 11, 2025 $0.05; Jan 8, 2026 $0.0064; Feb 9, 2026 $0.0087; Mar 10, 2026 $0.02; Apr 9, 2026 $0.06; Jun 9, 2026 $0.02; Jul 9, 2026 $0.03; Aug 7, 2026 $0.002; Sep 9, 2026 $0.05; Oct 8, 2026 $0.03; Nov 6, 2026 $0.06. Use the arrow keys to read each point.$0$0.1020232026YTD

QUAL vs SFLO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QUAL 11.8%SFLO 17.6%since Jan 2024
Return per unit of riskSharpe ratio, 3 years
QUAL 1.25SFLO 0.82since Jan 2024
Worst fallMax drawdown, 5 years
QUAL −28.2%SFLO −26.6%since Dec 2023
Market sensitivityBeta, 5 years
QUAL 0.90SFLO 0.85

QUAL and SFLO in the news

All news⁠

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