VFLO Fees and Costs — VictoryShares Free Cash Flow ETF
Data updated: 2026-09-11
The net expense ratio is 0.39%: a 0.35% management fee plus 0.09% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $5.4M in broker commissions, 0.0951% of average net assets, and portfolio turnover was 142%.
VFLO Fees and Expenses
Annual operating expenses and sales charges of VFLO. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 0.44% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.39% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
VFLO Costs Over Time
On $10,000 invested in VFLO, assuming 5% a year before costs, total costs come to $307 over 5 years, cutting the return by 0.51% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.39%) | $41 | $128 | $224 |
| Trading costs (broker commissions) | $10 | $31 | $55 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $168 | $307 |
| Value after costs | $10,449 | $11,409 | $12,456 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
VFLO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0951%
- Total broker commissions: $5.4M
- Bought from dealers (principal trades, not a cost): $13.4B
- Portfolio turnover (prospectus): 142%
- Securities on loan, average value: $4.8M
- Net income from securities lending: $7K (0.000% of average net assets)
VFLO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $1.9M | 34.78% |
| Susquehanna Securities | $1.9M | 34.19% |
| BofA Securities, Inc. | $1.4M | 26.44% |
| Jane Street Capital, LLC | $159K | 2.93% |
| Amerivet Securities, Inc. | $30K | 0.55% |
| UBS Securities LLC | $29K | 0.54% |
| Academy Securities Inc. | $17K | 0.32% |
| Goldman Sachs & Co. LLC | $5K | 0.09% |
| Virtu Americas LLC | $4K | 0.08% |
| Morgan Stanley & Co. LLC | $4K | 0.07% |
VFLO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $7.9B | 59.08% |
| RBC Capital Markets, LLC | $4.3B | 32.34% |
| Jane Street Capital, LLC | $678.2M | 5.05% |
| Goldman Sachs & Co. LLC | $287.1M | 2.14% |
| Virtu Americas LLC | $119.2M | 0.89% |
| J.P. Morgan Securities LLC | $52.3M | 0.39% |
| ABN Amro Securities (USA) LLC | $16.4M | 0.12% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.