

The VictoryShares International Free Cash Flow Growth ETF (GRIN) tracks an index that is built on a rigorous methodology that identifies non-U.S. companies with a positive free cash flow (FCF) trend and high levels of profitability. It focuses on businesses that generate high FCF relative to their invested capital.

For years, the search for high-quality, cash-generating businesses has been a predominantly American story. But that is changing, and for advisors building portfolios in an era of historically concentrated domestic markets, the shift carries real implications.

Investing in international equities presents unique challenges across markets. This is where a flexible metric that can span international borders can be beneficial — free cash flow (FCF).

A weakening U.S. dollar and stretched valuations in domestic markets are driving a shift toward international equities. In January 2026, the VictoryShares International Free Cash Flow Growth ETF (GRIN) emerged as a strong performer, easily outpacing the S&P 500.

With the S&P 500 Index pushing to new highs, many advisors are confronting a familiar challenge: how to maintain equity exposure without taking on unnecessary valuation risk.

When it comes to seeking growth-oriented, profitable companies with a penchant for generating free cash flow (FCF), investors may be missing out on opportunities if they adhere to a home country bias. However, they may be able to overcome this with the right exposure.

As we head to the end of 2025's third quarter, a retrospective look at the data around some of this year's ETF launches reveals some key trends in the industry. ETF Launches by Net Inflows YTD According to ETF Database data, more than 500 ETFs have launched in 2025 so far.

As with individual stocks, exchange-traded funds (ETFs) offer a host of different metrics for investors to evaluate their appeal as investments. Besides portfolio and strategy, investors will also consider factors including expense ratio, assets under management (AUM), trading volume, net asset value (NAV), and dividend metrics, among others.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.