IQDY vs. DVYE

Last updated Jun 24, 2026

IQDY (FlexShares International Quality Dividend Dynamic Index Fund) and DVYE (iShares Emerging Markets Dividend ETF) are both exchange-traded funds - IQDY is a Foreign Large Cap Equities fund tracking the Northern Trust International Quality Dividend Dynamic Index, while DVYE is a Emerging Markets Equities fund tracking the Dow Jones Emerging Markets Select Dividend Index. Both are passively managed. Over the past 10 years, IQDY returned 12.19%/yr vs 7.59%/yr for DVYE. A 0.73 correlation means they provide meaningful diversification when combined. IQDY charges 0.47%/yr vs 0.49%/yr for DVYE.

Performance

IQDY vs. DVYE - Performance Comparison

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

Returns By Period

In the year-to-date period, IQDY achieves a 17.66% return, which is significantly higher than DVYE's 6.75% return. Over the past 10 years, IQDY has outperformed DVYE with an annualized return of 12.19%, while DVYE has yielded a comparatively lower 7.59% annualized return.

IQDY

• 1D: -3.13%
• 1M: 2.33%
• YTD: 17.66%
• 6M: 17.70%
• 1Y: 40.59%
• 3Y*: 24.61%
• 5Y*: 11.84%
• 10Y*: 12.19%

DVYE

• 1D: -2.04%
• 1M: -3.13%
• YTD: 6.75%
• 6M: 7.37%
• 1Y: 23.11%
• 3Y*: 19.95%
• 5Y*: 4.56%
• 10Y*: 7.59%

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

IQDY vs. DVYE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IQDY FlexShares International Quality Dividend Dynamic Index Fund	17.66%	37.44%	5.97%	23.45%	-15.78%	12.00%	9.54%	27.27%	-20.04%	24.06%
DVYE iShares Emerging Markets Dividend ETF	6.75%	28.36%	8.89%	20.88%	-31.38%	11.02%	-2.51%	15.41%	-5.56%	27.04%

Correlation

The correlation between IQDY and DVYE is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013	0.73

The correlation between IQDY and DVYE has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

IQDY vs. DVYE - Sectors Allocation Comparison

Sectors	IQDY	DVYE
Financial Services	25.5%	28.5%
Technology	21.3%	8.4%
Industrials	13.8%	17.0%
Consumer Cyclical	8.7%	4.3%
Basic Materials	7.9%	8.8%
Energy	6.6%	18.2%
Healthcare	5.3%	-
Consumer Defensive	3.4%	2.1%
Communication Services	3.3%	1.7%
Utilities	3.0%	7.0%
Real Estate	1.2%	4.0%

Return for Risk

IQDY vs. DVYE — Risk / Return Rank

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

IQDY

IQDY Risk / Return Rank: 79
IQDY Sharpe Ratio Rank: 80
IQDY Sortino Ratio Rank: 76
IQDY Omega Ratio Rank: 79
IQDY Calmar Ratio Rank: 80
IQDY Martin Ratio Rank: 81

DVYE

DVYE Risk / Return Rank: 51
DVYE Sharpe Ratio Rank: 47
DVYE Sortino Ratio Rank: 44
DVYE Omega Ratio Rank: 44
DVYE Calmar Ratio Rank: 67
DVYE Martin Ratio Rank: 54

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.

IQDY vs. DVYE - Risk-Adjusted Trends Comparison

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

	IQDY	DVYE	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.56	+0.83
Sortino ratio: Return per unit of downside risk	3.14	2.13	+1.01
Omega ratio: Gain probability vs. loss probability	1.43	1.27	+0.16
Calmar ratio: Return relative to maximum drawdown	3.92	3.18	+0.73
Martin ratio: Return relative to average drawdown	15.11	8.93	+6.19

IQDY vs. DVYE - Sharpe Ratio Comparison

The current IQDY Sharpe Ratio is 2.39, which is higher than the DVYE Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of IQDY and DVYE, 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

IQDY vs. DVYE - Drawdown Comparison

The maximum IQDY drawdown since its inception was -39.60%, smaller than the maximum DVYE drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for IQDY and DVYE.

Drawdown Indicators

	IQDY	DVYE	Difference
Max Drawdown Largest peak-to-trough decline	-39.60%	-47.42%	+7.82%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-7.30%	-3.12%
Max Drawdown (3Y) Largest decline over 3 years	-14.76%	-14.63%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-32.30%	-40.89%	+8.59%
Max Drawdown (10Y) Largest decline over 10 years	-39.60%	-40.89%	+1.29%
Current Drawdown Current decline from peak	-3.13%	-7.30%	+4.17%
Average Drawdown Average peak-to-trough decline	-9.07%	-15.34%	+6.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	2.59%	+0.10%

Volatility

IQDY vs. DVYE - Volatility Comparison

FlexShares International Quality Dividend Dynamic Index Fund (IQDY) has a higher volatility of 7.34% compared to iShares Emerging Markets Dividend ETF (DVYE) at 5.61%. This indicates that IQDY's price experiences larger fluctuations and is considered to be riskier than DVYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQDY	DVYE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	5.61%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	12.32%	+2.54%
Volatility (1Y) Calculated over the trailing 1-year period	17.10%	14.92%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.02%	17.09%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	18.33%	-0.10%

IQDY vs. DVYE - Expense Ratio Comparison

IQDY has a 0.47% expense ratio, which is lower than DVYE's 0.49% expense ratio.

Dividends

IQDY vs. DVYE - Dividend Comparison

IQDY's dividend yield for the trailing twelve months is around 2.98%, less than DVYE's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVYE iShares Emerging Markets Dividend ETF	5.05%	5.88%	11.81%	9.05%	9.89%	7.31%	5.27%	5.97%	5.69%	4.81%	4.56%	6.53%
IQDY FlexShares International Quality Dividend Dynamic Index Fund	2.98%	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 IQDY and DVYE in my portfolio?

IQDY and DVYE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQDY or DVYE?

IQDY has higher volatility (7.34%) compared to DVYE (5.61%). In terms of maximum drawdown, IQDY dropped -39.60% vs DVYE's -47.42%.

Which ETF is better, IQDY or DVYE?

On 10-year performance, IQDY leads with 12.19% vs 7.59% for DVYE. On fees, IQDY is cheaper at 0.47% per year. On volatility, DVYE has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQDY or DVYE?

Over the 10-year period, IQDY has performed better with a 12.19% return vs 7.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQDY or DVYE?

IQDY is cheaper with a 0.47% expense ratio, compared with 0.49% for DVYE.

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

DVYE has the higher dividend yield at 5.05%, compared with 2.98% for IQDY.

What is the main difference between IQDY and DVYE?

IQDY is categorized as Foreign Large Cap Equities, while DVYE is Emerging Markets Equities. IQDY tracks Northern Trust International Quality Dividend Dynamic Index, while DVYE tracks Dow Jones Emerging Markets Select Dividend Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.47% for IQDY and 0.49% for DVYE.

Which has better risk-adjusted returns?

IQDY currently has the higher Sharpe Ratio (2.39 vs 1.56), 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.