IQDF vs. GMOI

Last updated Jun 24, 2026

IQDF (FlexShares International Quality Dividend Index Fund) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds - IQDF tracks the Northern Trust International Quality Dividend Index while GMOI tracks the MSCI World ex USA Value. Both are passively managed. Over the past year, IQDF returned 34.45% vs 35.21% for GMOI. Their correlation of 0.87 suggests significant overlap in exposure. IQDF charges 0.47%/yr vs 0.60%/yr for GMOI.

Performance

IQDF vs. GMOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares International Quality Dividend Index Fund (IQDF) and GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQDF achieves a 14.42% return, which is significantly higher than GMOI's 11.52% return.

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%

GMOI

• 1D: -1.03%
• 1M: -1.76%
• YTD: 11.52%
• 6M: 11.19%
• 1Y: 35.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQDF vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQDF FlexShares International Quality Dividend Index Fund	14.42%	35.42%	-5.26%
GMOI GMO International Value ETF	11.52%	45.64%	-4.48%

Correlation

The correlation between IQDF and GMOI is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.87

The correlation between IQDF and GMOI has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

IQDF vs. GMOI — Risk / Return Rank

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

IQDF

IQDF Risk / Return Rank: 73
IQDF Sharpe Ratio Rank: 75
IQDF Sortino Ratio Rank: 70
IQDF Omega Ratio Rank: 72
IQDF Calmar Ratio Rank: 72
IQDF Martin Ratio Rank: 74

GMOI

GMOI Risk / Return Rank: 85
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 87
GMOI Omega Ratio Rank: 83
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 85

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.

IQDF vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares International Quality Dividend Index Fund (IQDF) and GMO International Value ETF (GMOI). 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.

	IQDF	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.64	-0.40
Sortino ratio: Return per unit of downside risk	2.96	3.65	-0.69
Omega ratio: Gain probability vs. loss probability	1.40	1.47	-0.07
Calmar ratio: Return relative to maximum drawdown	3.45	4.23	-0.78
Martin ratio: Return relative to average drawdown	13.16	16.65	-3.49

IQDF vs. GMOI - Sharpe Ratio Comparison

The current IQDF Sharpe Ratio is 2.24, which is comparable to the GMOI Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of IQDF and GMOI, 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

IQDF vs. GMOI - Drawdown Comparison

The maximum IQDF drawdown since its inception was -39.83%, which is greater than GMOI's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for IQDF and GMOI.

Drawdown Indicators

	IQDF	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-39.83%	-14.67%	-25.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-8.36%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-13.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.83%	—	—
Current Drawdown Current decline from peak	-2.67%	-2.63%	-0.04%
Average Drawdown Average peak-to-trough decline	-9.30%	-1.69%	-7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.12%	+0.51%

Volatility

IQDF vs. GMOI - Volatility Comparison

FlexShares International Quality Dividend Index Fund (IQDF) has a higher volatility of 6.68% compared to GMO International Value ETF (GMOI) at 3.99%. This indicates that IQDF's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQDF	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	3.99%	+2.69%
Volatility (6M) Calculated over the trailing 6-month period	13.52%	10.67%	+2.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.48%	13.40%	+2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	15.57%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	15.57%	+0.94%

IQDF vs. GMOI - Expense Ratio Comparison

IQDF has a 0.47% expense ratio, which is lower than GMOI's 0.60% expense ratio.

Dividends

IQDF vs. GMOI - Dividend Comparison

IQDF's dividend yield for the trailing twelve months is around 3.05%, more than GMOI's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOI GMO International Value ETF	2.45%	2.74%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both IQDF and GMOI in my portfolio?

IQDF and GMOI have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQDF or GMOI?

IQDF has higher volatility (6.68%) compared to GMOI (3.99%). In terms of maximum drawdown, IQDF dropped -39.83% vs GMOI's -14.67%.

Which ETF is better, IQDF or GMOI?

On 1-year performance, GMOI leads with 35.21% vs 34.45% for IQDF. On fees, IQDF is cheaper at 0.47% per year. On volatility, GMOI has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQDF or GMOI?

Over the 1-year period, GMOI has performed better with a 35.21% return vs 34.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQDF or GMOI?

IQDF is cheaper with a 0.47% expense ratio, compared with 0.60% for GMOI.

Which ETF pays a higher dividend yield, IQDF or GMOI?

IQDF has the higher dividend yield at 3.05%, compared with 2.45% for GMOI.

What is the main difference between IQDF and GMOI?

IQDF tracks Northern Trust International Quality Dividend Index, while GMOI tracks MSCI World ex USA Value. They also come from different issuers: Northern Trust and GMO. Their fees differ too: 0.47% for IQDF and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.64 vs 2.24), 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.