ETF Evaluator:
VictoryShares Free Cash Flow Growth ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Growth Over the Last Year
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ETF Details
VictoryShares Free Cash Flow Growth ETF Overview
VictoryShares Free Cash Flow Growth ETF (GFLW) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Victory Capital Management Inc. launched the ETF in 2024.
The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Victory Free Cash Flow Growth Index.
Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. VettaFi LLC constructs the index in accordance with a rules-based methodology that screens for positive free cash flow and selects 100 growth companies with the highest score within the VettaFi US Equity Large/Mid-Cap 1000 Index (the Parent Index).
About VictoryShares Free Cash Flow Growth ETF (GFLW)
There are 3 members of the management team with an average tenure of 1.66 years: Mannik Dhillon (2024), Lance Humphrey (2024) and Lela Dunlap (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Victory Free Cash Flow Growth TR USD index with a weighting of 100%. VictoryShares Free Cash Flow Growth ETF has 102 securities in its portfolio. The top 10 holdings constitute 25.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VictoryShares Free Cash Flow Growth ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. VictoryShares Free Cash Flow Growth ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 100.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VictoryShares Free Cash Flow Growth ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $892 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GFLW Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VictoryShares Free Cash Flow Growth ETF expense ratio is below average compared to funds in the Large Growth category. VictoryShares Free Cash Flow Growth ETF has an expense ratio of 0.39%, which is 21% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VictoryShares Free Cash Flow Growth ETF has a portfolio turnover rate of 96%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of July 2026, VictoryShares Free Cash Flow Growth ETF returned -6.7%, which earned it a grade of F, as the Large Growth category had an average return of -3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VictoryShares Free Cash Flow Growth ETF has a trailing yield of 0.00%, which is below the 0.53% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VictoryShares Free Cash Flow Growth ETF Grades
Year to date, the ETF has returned 13.4%, 7.3 percentage points better than the category, which translates into a grade of A. The fund has returned 19.4% over the past year (grade of B).
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GFLW Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GFLW Return (NAV) | -6.7% | 8.9% | 19.4% | na | na | na |
| GFLW Return (Price) | -6.6% | 9.0% | 19.5% | na | na | na |
| NAV +/- Price Return | -0.107% | -0.099% | -0.146% | na | na | na |
| Large Growth Avg | -3.8% | 2.7% | 13.0% | 19.6% | 9.9% | 15.8% |
| GFLW Grade (NAV) | F | A | B | na | na | na |
| +/- Category (NAV) | -3.0% | 6.2% | 6.4% | na | na | na |
| GFLW Tax-Cost Ratio | na | na | 0.0% | na | na | na |
GFLW Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GFLW Return (NAV) | 13.4% | 18.5% | na | na | na | na | na | na | na | na | na |
| GFLW Return (Price) | 13.7% | 18.4% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.017% | -0.007% | na | na | na | na | na | na | na | na | na |
| Large Growth Avg | 6.2% | 16.9% | 30.5% | 38.6% | -30.7% | 21.6% | 37.2% | 33.0% | -2.1% | 28.4% | 5.0% |
| GFLW Grade (NAV) | A | B | na | na | na | na | na | na | na | na | na |
| +/- Category | 7.3% | 1.7% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 892 Mil |
| Share Class Assets: | $ 892 Mil |
| Turnover: | 96.0% |
| Expense Ratio: | 0.39% |
| Index Fund: | Yes |
| Index Tracked: | Victory Free Cash Flow Growth TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.7 years | |||
| Average Tenure: 1.7 years | |||
| Managers (Year): Dhillon Mannik (2024), Humphrey Lance (2024), Dunlap Lela (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 102 |
| % in Top 10 Holdings: | 25.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 100.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Victory Capital Management Inc. |
| Phone Number: | 866-376-7890 |
| Website: | www.CompassEMPFunds.com |
| Inception Date: | December 3, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.39% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.49% |
