GQRE vs. IQDF
GQRE (FlexShares Global Quality Real Estate Index Fund) and IQDF (FlexShares International Quality Dividend Index Fund) are both exchange-traded funds - GQRE is a REIT fund tracking the Northern Trust Global Quality Real Estate (NR), while IQDF is a Foreign Large Cap Equities fund tracking the Northern Trust International Quality Dividend Index. Both are passively managed. Over the past 10 years, GQRE returned 4.10%/yr vs 10.13%/yr for IQDF. A 0.65 correlation means they provide meaningful diversification when combined. GQRE charges 0.45%/yr vs 0.47%/yr for IQDF.
Performance
GQRE vs. IQDF - Performance Comparison
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Returns By Period
In the year-to-date period, GQRE achieves a 9.32% return, which is significantly lower than IQDF's 14.42% return. Over the past 10 years, GQRE has underperformed IQDF with an annualized return of 4.10%, while IQDF has yielded a comparatively higher 10.13% annualized return.
GQRE
- 1D
- 0.69%
- 1M
- -0.17%
- YTD
- 9.32%
- 6M
- 9.88%
- 1Y
- 11.39%
- 3Y*
- 11.94%
- 5Y*
- 2.35%
- 10Y*
- 4.10%
IQDF
- 1D
- -2.67%
- 1M
- 0.78%
- YTD
- 14.42%
- 6M
- 14.23%
- 1Y
- 34.45%
- 3Y*
- 22.56%
- 5Y*
- 10.57%
- 10Y*
- 10.13%
GQRE vs. IQDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 9.32% | 8.27% | 6.09% | 9.21% | -27.22% | 32.01% | -9.17% | 21.84% | -8.88% | 13.60% |
IQDF FlexShares International Quality Dividend Index Fund | 14.42% | 35.42% | 6.62% | 20.10% | -14.69% | 10.18% | 3.54% | 20.96% | -17.39% | 23.87% |
Correlation
The correlation between GQRE and IQDF is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | 0.65 |
The correlation between GQRE and IQDF has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.
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Return for Risk
GQRE vs. IQDF — Risk / Return Rank
GQRE
IQDF
GQRE vs. IQDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Global Quality Real Estate Index Fund (GQRE) and FlexShares International Quality Dividend Index Fund (IQDF). 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.
| GQRE | IQDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 3.45 | -2.32 |
| Martin ratioReturn relative to average drawdown | 4.24 | 13.16 | -8.92 |
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Drawdowns
GQRE vs. IQDF - Drawdown Comparison
The maximum GQRE drawdown since its inception was -41.87%, which is greater than IQDF's maximum drawdown of -39.83%. Use the drawdown chart below to compare losses from any high point for GQRE and IQDF.
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Drawdown Indicators
| GQRE | IQDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -39.83% | -2.04% |
Max Drawdown (1Y)Largest decline over 1 year | -10.15% | -10.03% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -16.17% | -13.92% | -2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -35.08% | -29.36% | -5.72% |
Max Drawdown (10Y)Largest decline over 10 years | -41.87% | -39.83% | -2.04% |
Current DrawdownCurrent decline from peak | -1.64% | -2.67% | +1.03% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -9.30% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.63% | +0.07% |
Volatility
GQRE vs. IQDF - Volatility Comparison
The current volatility for FlexShares Global Quality Real Estate Index Fund (GQRE) is 3.69%, while FlexShares International Quality Dividend Index Fund (IQDF) has a volatility of 6.68%. This indicates that GQRE experiences smaller price fluctuations and is considered to be less risky than IQDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GQRE | IQDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 6.68% | -2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 13.52% | -4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.91% | 15.48% | -3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 15.70% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.65% | 16.51% | +1.14% |
GQRE vs. IQDF - Expense Ratio Comparison
GQRE has a 0.45% expense ratio, which is lower than IQDF's 0.47% expense ratio.
Dividends
GQRE vs. IQDF - Dividend Comparison
GQRE's dividend yield for the trailing twelve months is around 4.29%, more than IQDF's 3.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 4.29% | 4.75% | 3.77% | 2.91% | 2.56% | 2.36% | 2.05% | 4.29% | 3.22% | 1.97% | 4.16% | 2.32% |
IQDF FlexShares International Quality Dividend Index Fund | 3.05% | 3.27% | 6.72% | 6.06% | 5.59% | 4.13% | 3.31% | 4.46% | 5.78% | 3.89% | 3.75% | 4.27% |
Frequently Asked Questions
GQRE and IQDF have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IQDF has higher volatility (6.68%) compared to GQRE (3.69%). In terms of maximum drawdown, GQRE dropped -41.87% vs IQDF's -39.83%.
On 10-year performance, IQDF leads with 10.13% vs 4.10% for GQRE. On fees, GQRE is cheaper at 0.45% per year. On volatility, GQRE has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IQDF has performed better with a 10.13% return vs 4.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GQRE is cheaper with a 0.45% expense ratio, compared with 0.47% for IQDF.
GQRE has the higher dividend yield at 4.29%, compared with 3.05% for IQDF.
GQRE is categorized as REIT, while IQDF is Foreign Large Cap Equities. GQRE tracks Northern Trust Global Quality Real Estate (NR), while IQDF tracks Northern Trust International Quality Dividend Index. Their fees differ too: 0.45% for GQRE and 0.47% for IQDF.
IQDF currently has the higher Sharpe Ratio (2.24 vs 0.97), 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.
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