FEIG vs. QDEF

Last updated Jun 3, 2026

FEIG (FlexShares ESG & Climate Investment Grade Corporate Core Index Fund) and QDEF (FlexShares Quality Dividend Defensive Index Fund) are both exchange-traded funds - FEIG is a Corporate Bonds fund tracking the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR, while QDEF is a Large Cap Value Equities fund tracking the Northern Trust Quality Dividend Defensive Index. Both are passively managed. Over the past 3 years, FEIG returned 5.02%/yr vs 19.79%/yr for QDEF. At a 0.35 correlation, their price movements are largely independent. FEIG charges 0.12%/yr vs 0.37%/yr for QDEF.

Performance

FEIG vs. QDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) and FlexShares Quality Dividend Defensive Index Fund (QDEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEIG achieves a 0.70% return, which is significantly lower than QDEF's 9.33% return.

FEIG

• 1D: 0.07%
• 1M: 0.56%
• YTD: 0.70%
• 6M: 0.72%
• 1Y: 6.02%
• 3Y*: 5.02%
• 5Y*: —
• 10Y*: —

QDEF

• 1D: 0.45%
• 1M: 3.66%
• YTD: 9.33%
• 6M: 9.70%
• 1Y: 24.69%
• 3Y*: 19.79%
• 5Y*: 12.90%
• 10Y*: 12.39%

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

FEIG vs. QDEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund	0.70%	7.31%	1.75%	8.57%	-15.91%	-1.46%
QDEF FlexShares Quality Dividend Defensive Index Fund	9.33%	17.43%	21.19%	17.48%	-10.94%	10.74%

Correlation

The correlation between FEIG and QDEF is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.35

Return for Risk

FEIG vs. QDEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FEIG

FEIG Risk / Return Rank: 39
FEIG Sharpe Ratio Rank: 37
FEIG Sortino Ratio Rank: 39
FEIG Omega Ratio Rank: 36
FEIG Calmar Ratio Rank: 42
FEIG Martin Ratio Rank: 39

QDEF

QDEF Risk / Return Rank: 78
QDEF Sharpe Ratio Rank: 78
QDEF Sortino Ratio Rank: 80
QDEF Omega Ratio Rank: 79
QDEF Calmar Ratio Rank: 71
QDEF Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FEIG vs. QDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) and FlexShares Quality Dividend Defensive Index Fund (QDEF). 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.

	FEIG	QDEF	Difference
Sharpe ratio Return per unit of total volatility	1.38	2.58	-1.20
Sortino ratio Return per unit of downside risk	2.03	3.65	-1.61
Omega ratio Gain probability vs. loss probability	1.24	1.48	-0.24
Calmar ratio Return relative to maximum drawdown	2.10	3.60	-1.51
Martin ratio Return relative to average drawdown	6.41	15.68	-9.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEIG vs. QDEF - Sharpe Ratio Comparison

The current FEIG Sharpe Ratio is 1.38, which is lower than the QDEF Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of FEIG and QDEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEIG	QDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	2.58	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.94	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.85	-0.88

Drawdowns

FEIG vs. QDEF - Drawdown Comparison

The maximum FEIG drawdown since its inception was -22.26%, smaller than the maximum QDEF drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for FEIG and QDEF.

Drawdown Indicators

	FEIG	QDEF	Difference
Max Drawdown Largest peak-to-trough decline	-22.26%	-35.74%	+13.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-6.95%	+4.14%
Max Drawdown (3Y) Largest decline over 3 years	-6.67%	-14.43%	+7.76%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.37%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.74%	—
Current Drawdown Current decline from peak	-1.34%	0.00%	-1.34%
Average Drawdown Average peak-to-trough decline	-9.52%	-3.29%	-6.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	1.60%	-0.68%

Volatility

FEIG vs. QDEF - Volatility Comparison

The current volatility for FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) is 1.52%, while FlexShares Quality Dividend Defensive Index Fund (QDEF) has a volatility of 2.41%. This indicates that FEIG experiences smaller price fluctuations and is considered to be less risky than QDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEIG	QDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	2.41%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	7.17%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	4.40%	9.61%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.40%	13.78%	-6.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.40%	16.17%	-8.77%

FEIG vs. QDEF - Expense Ratio Comparison

FEIG has a 0.12% expense ratio, which is lower than QDEF's 0.37% expense ratio.

Dividends

FEIG vs. QDEF - Dividend Comparison

FEIG's dividend yield for the trailing twelve months is around 4.74%, more than QDEF's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund	4.74%	4.84%	4.65%	4.21%	2.99%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QDEF FlexShares Quality Dividend Defensive Index Fund	1.58%	1.74%	1.85%	2.21%	2.42%	1.84%	2.50%	3.17%	7.10%	2.70%	2.90%	3.00%

Frequently Asked Questions

Can I hold both FEIG and QDEF in my portfolio?

FEIG and QDEF have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEIG or QDEF?

QDEF has higher volatility (2.41%) compared to FEIG (1.52%). In terms of maximum drawdown, FEIG dropped -22.26% vs QDEF's -35.74%.

Which ETF is better, FEIG or QDEF?

On 3-year performance, QDEF leads with 19.79% vs 5.02% for FEIG. On fees, FEIG is cheaper at 0.12% per year. On volatility, FEIG has been the lower-risk option at 1.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEIG or QDEF?

Over the 3-year period, QDEF has performed better with a 19.79% return vs 5.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEIG or QDEF?

FEIG is cheaper with a 0.12% expense ratio, compared with 0.37% for QDEF.

Which ETF pays a higher dividend yield, FEIG or QDEF?

FEIG has the higher dividend yield at 4.74%, compared with 1.58% for QDEF.

What is the main difference between FEIG and QDEF?

FEIG is categorized as Corporate Bonds, while QDEF is Large Cap Value Equities. FEIG tracks Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR, while QDEF tracks Northern Trust Quality Dividend Defensive Index. Their fees differ too: 0.12% for FEIG and 0.37% for QDEF.

Which has better risk-adjusted returns?

QDEF currently has the higher Sharpe Ratio (2.58 vs 1.38), 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.