IQDF vs. IQDY

Last updated Jun 4, 2026

IQDF (FlexShares International Quality Dividend Index Fund) and IQDY (FlexShares International Quality Dividend Dynamic Index Fund) are both Foreign Large Cap Equities funds from Northern Trust - IQDF tracks the Northern Trust International Quality Dividend Index while IQDY tracks the Northern Trust International Quality Dividend Dynamic Index. Both are passively managed. Over the past 10 years, IQDF returned 9.66%/yr vs 11.61%/yr for IQDY. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.47% expense ratio.

Performance

IQDF vs. IQDY - Performance Comparison

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

Returns By Period

In the year-to-date period, IQDF achieves a 15.38% return, which is significantly lower than IQDY's 17.95% return. Over the past 10 years, IQDF has underperformed IQDY with an annualized return of 9.66%, while IQDY has yielded a comparatively higher 11.61% annualized return.

IQDF

• 1D: -1.02%
• 1M: 5.16%
• YTD: 15.38%
• 6M: 18.18%
• 1Y: 35.90%
• 3Y*: 22.80%
• 5Y*: 10.43%
• 10Y*: 9.66%

IQDY

• 1D: -0.89%
• 1M: 6.55%
• YTD: 17.95%
• 6M: 20.74%
• 1Y: 41.61%
• 3Y*: 24.42%
• 5Y*: 11.45%
• 10Y*: 11.61%

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

IQDF vs. IQDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IQDF FlexShares International Quality Dividend Index Fund	15.38%	35.42%	6.62%	20.10%	-14.69%	10.18%	3.54%	20.96%	-17.39%	23.87%
IQDY FlexShares International Quality Dividend Dynamic Index Fund	17.95%	37.44%	5.97%	23.45%	-15.78%	12.00%	9.54%	27.27%	-20.04%	24.06%

Correlation

The correlation between IQDF and IQDY is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 17, 2013	0.89

The correlation between IQDF and IQDY has been stable across timeframes, ranging from 0.89 to 0.97 - a consistent structural relationship.

IQDF vs. IQDY - Sectors Allocation Comparison

Sectors	IQDF	IQDY
Financial Services	25.9%	26.3%
Technology	15.6%	18.2%
Industrials	13.2%	14.5%
Basic Materials	8.3%	7.8%
Energy	7.2%	7.6%
Consumer Cyclical	6.9%	8.8%
Healthcare	6.0%	5.4%
Consumer Defensive	5.7%	3.5%
Communication Services	4.9%	3.5%
Utilities	3.9%	3.4%
Real Estate	2.3%	1.0%

Return for Risk

IQDF vs. IQDY — Risk / Return Rank

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

IQDF

IQDF Risk / Return Rank: 74
IQDF Sharpe Ratio Rank: 76
IQDF Sortino Ratio Rank: 73
IQDF Omega Ratio Rank: 73
IQDF Calmar Ratio Rank: 72
IQDF Martin Ratio Rank: 73

IQDY

IQDY Risk / Return Rank: 79
IQDY Sharpe Ratio Rank: 80
IQDY Sortino Ratio Rank: 77
IQDY Omega Ratio Rank: 78
IQDY Calmar Ratio Rank: 78
IQDY Martin Ratio Rank: 80

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. IQDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares International Quality Dividend Index Fund (IQDF) and FlexShares International Quality Dividend Dynamic Index Fund (IQDY). 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.

	IQDF	IQDY	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.63	-0.12
Sortino ratio: Return per unit of downside risk	3.35	3.51	-0.16
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.60	4.01	-0.42
Martin ratio: Return relative to average drawdown	13.93	15.76	-1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQDF vs. IQDY - Sharpe Ratio Comparison

The current IQDF Sharpe Ratio is 2.50, which is comparable to the IQDY Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of IQDF and IQDY, 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

	IQDF	IQDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.63	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.65	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.63	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.50	-0.06

Drawdowns

IQDF vs. IQDY - Drawdown Comparison

The maximum IQDF drawdown since its inception was -39.83%, roughly equal to the maximum IQDY drawdown of -39.60%. Use the drawdown chart below to compare losses from any high point for IQDF and IQDY.

Drawdown Indicators

	IQDF	IQDY	Difference
Max Drawdown Largest peak-to-trough decline	-39.83%	-39.60%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.03%	-10.42%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-13.92%	-14.76%	+0.84%
Max Drawdown (5Y) Largest decline over 5 years	-30.34%	-33.03%	+2.69%
Max Drawdown (10Y) Largest decline over 10 years	-39.83%	-39.60%	-0.23%
Current Drawdown Current decline from peak	-1.02%	-0.89%	-0.13%
Average Drawdown Average peak-to-trough decline	-9.34%	-9.10%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.65%	-0.07%

Volatility

IQDF vs. IQDY - Volatility Comparison

FlexShares International Quality Dividend Index Fund (IQDF) and FlexShares International Quality Dividend Dynamic Index Fund (IQDY) have volatilities of 5.63% and 5.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQDF	IQDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	5.84%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	12.23%	13.40%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	14.44%	15.93%	-1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.49%	17.81%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	18.43%	-1.80%

IQDF vs. IQDY - Expense Ratio Comparison

Both IQDF and IQDY have an expense ratio of 0.47%.

Dividends

IQDF vs. IQDY - Dividend Comparison

IQDF's dividend yield for the trailing twelve months is around 2.77%, which matches IQDY's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQDF FlexShares International Quality Dividend Index Fund	2.77%	3.27%	6.72%	6.06%	5.59%	4.13%	3.31%	4.46%	5.78%	3.89%	3.75%	4.27%
IQDY FlexShares International Quality Dividend Dynamic Index Fund	2.76%	3.26%	6.95%	6.45%	5.52%	3.89%	2.62%	3.85%	5.97%	3.57%	3.77%	4.08%

Frequently Asked Questions

Can I hold both IQDF and IQDY in my portfolio?

With a correlation of 0.95, IQDF and IQDY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IQDF or IQDY?

IQDY has higher volatility (5.84%) compared to IQDF (5.63%). In terms of maximum drawdown, IQDF dropped -39.83% vs IQDY's -39.60%.

Which ETF is better, IQDF or IQDY?

On 10-year performance, IQDY leads with 11.61% vs 9.66% for IQDF. Both ETFs have the same 0.47% expense ratio. On volatility, IQDF has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQDF or IQDY?

Over the 10-year period, IQDY has performed better with a 11.61% return vs 9.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQDF or IQDY?

IQDF and IQDY have the same expense ratio: 0.47% per year.

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

IQDF and IQDY have nearly identical dividend yields, around 2.77%.

What is the main difference between IQDF and IQDY?

IQDF tracks Northern Trust International Quality Dividend Index, while IQDY tracks Northern Trust International Quality Dividend Dynamic Index.

Which has better risk-adjusted returns?

IQDY currently has the higher Sharpe Ratio (2.63 vs 2.50), 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.