IFLO vs SPY
VictoryShares International Free Cash Flow ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IFLO delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IFLO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.09% | |
| AUM | $189M | $789.1B | |
| Dividend Yield | 0.10% | 1.01% | |
| Holdings | 103 | 505 | |
| YTD Return | +27.67% | +14.47% | |
| 1Y Return | +36.96% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 10.0% | 15.3% | |
| Max Drawdown | -6.4% | -56.5% | |
| Fund Family | Victory Capital Management Inc. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 25, 2025 | Jan 22, 1993 |
IFLO vs SPY Performance
VictoryShares International Free Cash Flow ETF (IFLO) is a ETF from Victory Capital Management Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IFLO returned +36.96% while SPY returned +21.96%. Year to date, IFLO is up 27.67% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.0% for IFLO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.4% for IFLO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.38. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IFLO charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, IFLO currently yields 0.10% against 1.01% for SPY.
Holdings Overlap
IFLO and SPY share 0 holdings out of 604 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IFLO or SPY?
IFLO has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, IFLO or SPY?
Over the past year IFLO returned +36.96% vs +21.96% for SPY, so IFLO leads on 1-year performance. Over the longest common window we track (1 years), IFLO annualized +38.91% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, IFLO or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.0% for IFLO. Worst drawdown: IFLO -6.4% vs SPY -56.5%.
Should I hold both IFLO and SPY?
IFLO and SPY have a monthly-return correlation of 0.38, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IFLO and SPY?
IFLO and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 604 unique securities.
Which pays a higher dividend, IFLO or SPY?
IFLO yields 0.10% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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