HQGO vs. QLV

Last updated Aug 4, 2026

HQGO (Hartford US Quality Growth ETF) and QLV (FlexShares US Quality Low Volatility Index Fund) are both Quality Factor funds - HQGO tracks the Hartford US Quality Growth Index - Benchmark TR Gross while QLV tracks the Northern Trust Quality Low Volatility Index. Both are passively managed. Over the past year, HQGO returned 23.04% vs 16.70% for QLV. Their 0.74 correlation means they have sometimes moved together and sometimes differently. HQGO charges 0.34%/yr vs 0.22%/yr for QLV.

Performance

HQGO vs. QLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford US Quality Growth ETF (HQGO) 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, HQGO achieves a 11.00% return, which is significantly higher than QLV's 9.55% return.

HQGO

• 1D: 1.39%
• 1M: 2.07%
• 6M: 9.26%
• YTD: 11.00%
• 1Y: 23.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.56%

QLV

• 1D: 0.50%
• 1M: 1.91%
• 6M: 6.89%
• YTD: 9.55%
• 1Y: 16.70%
• 3Y*: 15.60%
• 5Y*: 10.05%
• 10Y*: —
• ALL TIME*: 11.67%

*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)
HQGO Hartford US Quality Growth ETF	$5.49K	$7.53K	$51.76K
QLV FlexShares US Quality Low Volatility Index Fund	$571.44K	$481.55K	$516.78K

HQGO vs. QLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HQGO Hartford US Quality Growth ETF	11.00%	15.15%	25.09%	5.10%
QLV FlexShares US Quality Low Volatility Index Fund	9.55%	12.28%	18.08%	2.55%

Correlation

The correlation between HQGO and QLV is 0.62, 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.	0.62
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.74

The correlation between HQGO and QLV shifts across timeframes, from 0.62 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

HQGO vs. QLV - Sectors Allocation Comparison

Sectors	HQGO	QLV
Technology	42.3%	30.2%
Consumer Cyclical	12.3%	6.4%
Healthcare	10.4%	14.1%
Communication Services	9.9%	7.4%
Industrials	7.0%	6.3%
Financial Services	6.7%	12.3%
Consumer Defensive	3.9%	7.8%
Energy	3.9%	6.5%
Basic Materials	2.2%	1.3%
Real Estate	0.9%	1.4%
Utilities	0.1%	6.4%

Return for Risk

HQGO vs. QLV — Risk / Return Rank

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

HQGO

HQGO Risk / Return Rank: 62
HQGO Sharpe Ratio Rank: 64
HQGO Sortino Ratio Rank: 62
HQGO Omega Ratio Rank: 60
HQGO Calmar Ratio Rank: 58
HQGO Martin Ratio Rank: 64

QLV

QLV Risk / Return Rank: 83
QLV Sharpe Ratio Rank: 86
QLV Sortino Ratio Rank: 89
QLV Omega Ratio Rank: 85
QLV Calmar Ratio Rank: 74
QLV Martin Ratio Rank: 81

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.

HQGO vs. QLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford US Quality Growth ETF (HQGO) 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.

	HQGO	QLV	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.13	-0.50
Sortino ratio: Return per unit of downside risk	2.27	3.13	-0.87
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.10
Calmar ratio: Return relative to maximum drawdown	2.23	2.71	-0.48
Martin ratio: Return relative to average drawdown	8.45	11.17	-2.72

HQGO vs. QLV - Sharpe Ratio Comparison

The current HQGO Sharpe Ratio is 1.63, which is comparable to the QLV Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of HQGO 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

HQGO vs. QLV - Drawdown Comparison

The maximum HQGO drawdown since its inception was -20.85%, smaller than the maximum QLV drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for HQGO and QLV.

Drawdown Indicators

	HQGO	QLV	Difference
Max Drawdown Largest peak-to-trough decline	-20.85%	-33.71%	+12.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-6.19%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.93%	—
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-2.52%	-3.93%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.50%	+1.23%

Volatility

HQGO vs. QLV - Volatility Comparison

Hartford US Quality Growth ETF (HQGO) has a higher volatility of 3.62% compared to FlexShares US Quality Low Volatility Index Fund (QLV) at 2.30%. This indicates that HQGO'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

	HQGO	QLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	2.30%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	10.83%	5.98%	+4.85%
Volatility (1Y) Calculated over the trailing 1-year period	14.18%	7.88%	+6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	12.64%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	16.43%	+0.47%

HQGO vs. QLV - Expense Ratio Comparison

HQGO has a 0.34% expense ratio, which is higher than QLV's 0.22% expense ratio.

Dividends

HQGO vs. QLV - Dividend Comparison

HQGO's dividend yield for the trailing twelve months is around 0.45%, less than QLV's 1.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HQGO Hartford US Quality Growth ETF	0.45%	0.51%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%
QLV FlexShares US Quality Low Volatility Index Fund	1.52%	1.60%	1.66%	1.60%	1.74%	0.96%	1.24%	0.58%

Frequently Asked Questions

Can I hold both HQGO and QLV in my portfolio?

HQGO and QLV have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HQGO or QLV?

HQGO has higher volatility (3.62%) compared to QLV (2.30%). In terms of maximum drawdown, HQGO dropped -20.85% vs QLV's -33.71%.

Which ETF is better, HQGO or QLV?

On 1-year performance, HQGO leads with 23.04% vs 16.70% for QLV. On fees, QLV is cheaper at 0.22% per year. On volatility, QLV has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HQGO or QLV?

Over the 1-year period, HQGO has performed better with a 23.04% return vs 16.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HQGO or QLV?

QLV is cheaper with a 0.22% expense ratio, compared with 0.34% for HQGO.

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

QLV has the higher dividend yield at 1.52%, compared with 0.45% for HQGO.

What is the main difference between HQGO and QLV?

HQGO tracks Hartford US Quality Growth Index - Benchmark TR Gross, while QLV tracks Northern Trust Quality Low Volatility Index. They also come from different issuers: Hartford and Northern Trust. Their fees differ too: 0.34% for HQGO and 0.22% for QLV.

Which has better risk-adjusted returns?

QLV currently has the higher Sharpe Ratio (2.13 vs 1.63), 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.