EQLT vs. QLC

Last updated Aug 6, 2026

EQLT (iShares MSCI Emerging Markets Quality Factor ETF) and QLC (FlexShares US Quality Large Cap Index Fund) are both Quality Factor funds - EQLT tracks the MSCI Emerging Markets Quality Factor Select Index while QLC tracks the Northern Trust Quality Large Cap Index. Both are passively managed. Over the past year, EQLT returned 48.63% vs 30.15% for QLC. Their 0.63 correlation means they have sometimes moved together and sometimes differently. EQLT charges 0.35%/yr vs 0.25%/yr for QLC.

Performance

EQLT vs. QLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Quality Factor ETF (EQLT) and FlexShares US Quality Large Cap Index Fund (QLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQLT achieves a 28.39% return, which is significantly higher than QLC's 15.47% return.

EQLT

• 1D: -0.16%
• 1M: 1.62%
• 6M: 19.56%
• YTD: 28.39%
• 1Y: 48.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.90%

QLC

• 1D: -0.18%
• 1M: 2.85%
• 6M: 14.24%
• YTD: 15.47%
• 1Y: 30.15%
• 3Y*: 24.78%
• 5Y*: 14.95%
• 10Y*: 14.85%
• ALL TIME*: 14.60%

*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)
EQLT iShares MSCI Emerging Markets Quality Factor ETF	$81.83K	$62.05K	$114.88K
QLC FlexShares US Quality Large Cap Index Fund	$3.21M	$3.99M	$3.64M

EQLT vs. QLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EQLT iShares MSCI Emerging Markets Quality Factor ETF	28.39%	33.93%	-1.29%
QLC FlexShares US Quality Large Cap Index Fund	15.47%	23.26%	7.56%

Correlation

The correlation between EQLT and QLC is 0.75, 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.	0.75
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.63

The correlation between EQLT and QLC shifts across timeframes, from 0.63 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

EQLT vs. QLC - Sectors Allocation Comparison

Sectors	EQLT	QLC
Technology	34.8%	38.0%
Financial Services	19.5%	13.6%
Industrials	11.4%	5.8%
Consumer Cyclical	8.2%	7.2%
Basic Materials	6.5%	2.1%
Communication Services	5.2%	10.2%
Consumer Defensive	3.5%	3.5%
Energy	3.5%	2.3%
Healthcare	3.3%	10.0%
Utilities	1.8%	3.8%
Real Estate	0.9%	2.8%

Return for Risk

EQLT vs. QLC — Risk / Return Rank

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

EQLT

EQLT Risk / Return Rank: 81
EQLT Sharpe Ratio Rank: 81
EQLT Sortino Ratio Rank: 73
EQLT Omega Ratio Rank: 78
EQLT Calmar Ratio Rank: 89
EQLT Martin Ratio Rank: 81

QLC

QLC Risk / Return Rank: 86
QLC Sharpe Ratio Rank: 88
QLC Sortino Ratio Rank: 86
QLC Omega Ratio Rank: 85
QLC Calmar Ratio Rank: 83
QLC Martin Ratio Rank: 89

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.

EQLT vs. QLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Quality Factor ETF (EQLT) and FlexShares US Quality Large Cap Index Fund (QLC). 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.

	EQLT	QLC	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.29	-0.22
Sortino ratio: Return per unit of downside risk	2.69	3.16	-0.46
Omega ratio: Gain probability vs. loss probability	1.37	1.41	-0.04
Calmar ratio: Return relative to maximum drawdown	4.07	3.43	+0.65
Martin ratio: Return relative to average drawdown	12.20	15.28	-3.08

EQLT vs. QLC - Sharpe Ratio Comparison

The current EQLT Sharpe Ratio is 2.08, which is comparable to the QLC Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of EQLT and QLC, 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

EQLT vs. QLC - Drawdown Comparison

The maximum EQLT drawdown since its inception was -17.38%, smaller than the maximum QLC drawdown of -35.86%. Use the drawdown chart below to compare losses from any high point for EQLT and QLC.

Drawdown Indicators

	EQLT	QLC	Difference
Max Drawdown Largest peak-to-trough decline	-17.38%	-35.86%	+18.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-8.84%	-3.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.86%	—
Current Drawdown Current decline from peak	-4.24%	-0.18%	-4.06%
Average Drawdown Average peak-to-trough decline	-3.81%	-4.48%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	1.98%	+2.02%

Volatility

EQLT vs. QLC - Volatility Comparison

iShares MSCI Emerging Markets Quality Factor ETF (EQLT) has a higher volatility of 6.37% compared to FlexShares US Quality Large Cap Index Fund (QLC) at 3.87%. This indicates that EQLT's price experiences larger fluctuations and is considered to be riskier than QLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQLT	QLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.37%	3.87%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	10.48%	+10.76%
Volatility (1Y) Calculated over the trailing 1-year period	23.55%	13.22%	+10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.31%	16.94%	+4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.31%	18.41%	+2.90%

EQLT vs. QLC - Expense Ratio Comparison

EQLT has a 0.35% expense ratio, which is higher than QLC's 0.25% expense ratio.

Dividends

EQLT vs. QLC - Dividend Comparison

EQLT's dividend yield for the trailing twelve months is around 2.73%, more than QLC's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.73%	3.10%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLC FlexShares US Quality Large Cap Index Fund	0.90%	0.94%	1.03%	1.26%	1.46%	0.96%	1.40%	1.91%	1.82%	1.29%	1.80%	0.64%

Frequently Asked Questions

Can I hold both EQLT and QLC in my portfolio?

EQLT and QLC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQLT or QLC?

EQLT has higher volatility (6.37%) compared to QLC (3.87%). In terms of maximum drawdown, EQLT dropped -17.38% vs QLC's -35.86%.

Which ETF is better, EQLT or QLC?

On 1-year performance, EQLT leads with 48.63% vs 30.15% for QLC. On fees, QLC is cheaper at 0.25% per year. On volatility, QLC has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQLT or QLC?

Over the 1-year period, EQLT has performed better with a 48.63% return vs 30.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQLT or QLC?

QLC is cheaper with a 0.25% expense ratio, compared with 0.35% for EQLT.

Which ETF pays a higher dividend yield, EQLT or QLC?

EQLT has the higher dividend yield at 2.73%, compared with 0.90% for QLC.

What is the main difference between EQLT and QLC?

EQLT tracks MSCI Emerging Markets Quality Factor Select Index, while QLC tracks Northern Trust Quality Large Cap Index. They also come from different issuers: iShares and Northern Trust. Their fees differ too: 0.35% for EQLT and 0.25% for QLC.

Which has better risk-adjusted returns?

QLC currently has the higher Sharpe Ratio (2.29 vs 2.08), 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.