CDC vs. QLV

Last updated Aug 6, 2026

CDC (VictoryShares US EQ Income Enhanced Volatility Wtd ETF) and QLV (FlexShares US Quality Low Volatility Index Fund) are both exchange-traded funds - CDC is a Low Volatility fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index, while QLV is a Quality Factor fund tracking the Northern Trust Quality Low Volatility Index. Both are passively managed. Over the past 5 years, CDC returned 6.76%/yr vs 10.23%/yr for QLV. Their 0.69 correlation means they have sometimes moved together and sometimes differently. CDC charges 0.37%/yr vs 0.22%/yr for QLV.

Performance

CDC vs. QLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) and FlexShares US Quality Low Volatility Index Fund (QLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDC achieves a 18.09% return, which is significantly higher than QLV's 10.87% return.

CDC

• 1D: -0.61%
• 1M: 1.50%
• 6M: 8.57%
• YTD: 18.09%
• 1Y: 21.95%
• 3Y*: 14.24%
• 5Y*: 6.76%
• 10Y*: 10.34%
• ALL TIME*: 10.04%

QLV

• 1D: 0.24%
• 1M: 3.20%
• 6M: 7.76%
• YTD: 10.87%
• 1Y: 16.89%
• 3Y*: 16.06%
• 5Y*: 10.23%
• 10Y*: —
• ALL TIME*: 11.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	$1.04M	$983.49K	$1.23M
QLV FlexShares US Quality Low Volatility Index Fund	$528.94K	$467.98K	$515.96K

CDC vs. QLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	18.09%	8.96%	14.48%	-4.99%	-7.86%	33.05%	12.88%	8.09%
QLV FlexShares US Quality Low Volatility Index Fund	10.87%	12.28%	18.08%	13.71%	-9.97%	26.08%	9.63%	5.97%

Correlation

The correlation between CDC and QLV is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019	0.69

The correlation between CDC and QLV has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

CDC vs. QLV - Sectors Allocation Comparison

Sectors	CDC	QLV
Utilities	24.3%	6.4%
Financial Services	24.1%	12.3%
Consumer Defensive	15.7%	7.8%
Energy	8.6%	6.5%
Healthcare	7.2%	14.1%
Consumer Cyclical	7.0%	6.4%
Technology	6.9%	30.2%
Communication Services	3.9%	7.4%
Industrials	2.3%	6.3%
Basic Materials	0.6%	1.3%
Real Estate	0.0%	1.4%

Return for Risk

CDC vs. QLV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CDC

CDC Risk / Return Rank: 84
CDC Sharpe Ratio Rank: 83
CDC Sortino Ratio Rank: 86
CDC Omega Ratio Rank: 77
CDC Calmar Ratio Rank: 88
CDC Martin Ratio Rank: 86

QLV

QLV Risk / Return Rank: 80
QLV Sharpe Ratio Rank: 84
QLV Sortino Ratio Rank: 86
QLV Omega Ratio Rank: 84
QLV Calmar Ratio Rank: 69
QLV Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CDC vs. QLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) and FlexShares US Quality Low Volatility Index Fund (QLV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CDC	QLV	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.17	-0.03
Sortino ratio: Return per unit of downside risk	3.17	3.17	0.00
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.03
Calmar ratio: Return relative to maximum drawdown	3.89	2.74	+1.15
Martin ratio: Return relative to average drawdown	13.68	11.29	+2.39

CDC vs. QLV - Sharpe Ratio Comparison

The current CDC Sharpe Ratio is 2.14, which is comparable to the QLV Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of CDC and QLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CDC vs. QLV - Drawdown Comparison

The maximum CDC drawdown since its inception was -21.37%, smaller than the maximum QLV drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for CDC and QLV.

Drawdown Indicators

	CDC	QLV	Difference
Max Drawdown Largest peak-to-trough decline	-21.37%	-33.71%	+12.34%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-6.19%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-12.70%	-12.05%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-21.37%	-17.93%	-3.44%
Max Drawdown (10Y) Largest decline over 10 years	-21.37%	—	—
Current Drawdown Current decline from peak	-1.72%	0.00%	-1.72%
Average Drawdown Average peak-to-trough decline	-5.05%	-3.93%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.50%	+0.11%

Volatility

CDC vs. QLV - Volatility Comparison

VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) has a higher volatility of 3.78% compared to FlexShares US Quality Low Volatility Index Fund (QLV) at 2.38%. This indicates that CDC's price experiences larger fluctuations and is considered to be riskier than QLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDC	QLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	2.38%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	7.78%	6.03%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	7.82%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.56%	12.64%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.22%	16.42%	-3.20%

CDC vs. QLV - Expense Ratio Comparison

CDC has a 0.37% expense ratio, which is higher than QLV's 0.22% expense ratio.

Dividends

CDC vs. QLV - Dividend Comparison

CDC's dividend yield for the trailing twelve months is around 3.05%, more than QLV's 1.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF	3.05%	3.36%	3.32%	4.24%	3.48%	2.65%	2.48%	3.04%	3.37%	2.81%	2.99%	3.17%
QLV FlexShares US Quality Low Volatility Index Fund	1.50%	1.60%	1.66%	1.60%	1.74%	0.96%	1.24%	0.58%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDC and QLV in my portfolio?

CDC and QLV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDC or QLV?

CDC has higher volatility (3.78%) compared to QLV (2.38%). In terms of maximum drawdown, CDC dropped -21.37% vs QLV's -33.71%.

Which ETF is better, CDC or QLV?

On 5-year performance, QLV leads with 10.23% vs 6.76% for CDC. On fees, QLV is cheaper at 0.22% per year. On volatility, QLV has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDC or QLV?

Over the 5-year period, QLV has performed better with a 10.23% return vs 6.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDC or QLV?

QLV is cheaper with a 0.22% expense ratio, compared with 0.37% for CDC.

Which ETF pays a higher dividend yield, CDC or QLV?

CDC has the higher dividend yield at 3.05%, compared with 1.50% for QLV.

What is the main difference between CDC and QLV?

CDC is categorized as Low Volatility, while QLV is Quality Factor. CDC tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index, while QLV tracks Northern Trust Quality Low Volatility Index. They also come from different issuers: Crestview and Northern Trust. Their fees differ too: 0.37% for CDC and 0.22% for QLV.

Which has better risk-adjusted returns?

QLV currently has the higher Sharpe Ratio (2.17 vs 2.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.