IQDY vs. EQLT

Last updated Aug 5, 2026

IQDY (FlexShares International Quality Dividend Dynamic Index Fund) and EQLT (iShares MSCI Emerging Markets Quality Factor ETF) are both Quality Factor funds - IQDY tracks the Northern Trust International Quality Dividend Dynamic Index while EQLT tracks the MSCI Emerging Markets Quality Factor Select Index. Both are passively managed. Over the past year, IQDY returned 38.36% vs 49.51% for EQLT. Their correlation of 0.82 means they have usually moved in the same direction. IQDY charges 0.47%/yr vs 0.35%/yr for EQLT.

Performance

IQDY vs. EQLT - 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 MSCI Emerging Markets Quality Factor ETF (EQLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQDY achieves a 20.32% return, which is significantly lower than EQLT's 28.59% return.

IQDY

• 1D: 1.67%
• 1M: 2.88%
• 6M: 12.03%
• YTD: 20.32%
• 1Y: 38.36%
• 3Y*: 24.19%
• 5Y*: 12.61%
• 10Y*: 11.47%
• ALL TIME*: 9.03%

EQLT

• 1D: 2.63%
• 1M: 3.26%
• 6M: 17.89%
• YTD: 28.59%
• 1Y: 49.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.06%

*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)
EQLT iShares MSCI Emerging Markets Quality Factor ETF	$71.55K	$57.78K	$117.19K
IQDY FlexShares International Quality Dividend Dynamic Index Fund	$942.98K	$558.46K	$430.71K

IQDY vs. EQLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQDY FlexShares International Quality Dividend Dynamic Index Fund	20.32%	37.44%	-1.63%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	28.59%	33.93%	-1.29%

Correlation

The correlation between IQDY and EQLT is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.82

The correlation between IQDY and EQLT has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

IQDY vs. EQLT - Sectors Allocation Comparison

Sectors	IQDY	EQLT
Financial Services	26.3%	19.5%
Technology	24.3%	34.8%
Industrials	14.2%	11.4%
Consumer Cyclical	8.8%	8.2%
Basic Materials	7.7%	6.5%
Healthcare	5.3%	3.3%
Energy	4.8%	3.5%
Consumer Defensive	2.9%	3.5%
Communication Services	2.5%	5.2%
Utilities	2.1%	1.8%
Real Estate	1.2%	0.9%

Return for Risk

IQDY vs. EQLT — Risk / Return Rank

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

IQDY

IQDY Risk / Return Rank: 84
IQDY Sharpe Ratio Rank: 84
IQDY Sortino Ratio Rank: 80
IQDY Omega Ratio Rank: 83
IQDY Calmar Ratio Rank: 86
IQDY Martin Ratio Rank: 85

EQLT

EQLT Risk / Return Rank: 82
EQLT Sharpe Ratio Rank: 82
EQLT Sortino Ratio Rank: 75
EQLT Omega Ratio Rank: 79
EQLT Calmar Ratio Rank: 90
EQLT Martin Ratio Rank: 82

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.

IQDY vs. EQLT - 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 MSCI Emerging Markets Quality Factor ETF (EQLT). 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	EQLT	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.11	+0.05
Sortino ratio: Return per unit of downside risk	2.89	2.73	+0.16
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	3.70	4.15	-0.45
Martin ratio: Return relative to average drawdown	13.26	12.45	+0.81

IQDY vs. EQLT - Sharpe Ratio Comparison

The current IQDY Sharpe Ratio is 2.17, which is comparable to the EQLT Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of IQDY and EQLT, 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. EQLT - Drawdown Comparison

The maximum IQDY drawdown since its inception was -39.60%, which is greater than EQLT's maximum drawdown of -17.38%. Use the drawdown chart below to compare losses from any high point for IQDY and EQLT.

Drawdown Indicators

	IQDY	EQLT	Difference
Max Drawdown Largest peak-to-trough decline	-39.60%	-17.38%	-22.22%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-12.00%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	-14.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.60%	—	—
Current Drawdown Current decline from peak	-0.95%	-4.08%	+3.13%
Average Drawdown Average peak-to-trough decline	-9.02%	-3.81%	-5.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.99%	-1.09%

Volatility

IQDY vs. EQLT - Volatility Comparison

The current volatility for FlexShares International Quality Dividend Dynamic Index Fund (IQDY) is 6.18%, while iShares MSCI Emerging Markets Quality Factor ETF (EQLT) has a volatility of 6.65%. This indicates that IQDY experiences smaller price fluctuations and is considered to be less risky than EQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQDY	EQLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	6.65%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	15.79%	21.25%	-5.46%
Volatility (1Y) Calculated over the trailing 1-year period	17.82%	23.56%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.14%	21.33%	-3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	21.33%	-3.05%

IQDY vs. EQLT - Expense Ratio Comparison

IQDY has a 0.47% expense ratio, which is higher than EQLT's 0.35% expense ratio.

Dividends

IQDY vs. EQLT - Dividend Comparison

IQDY's dividend yield for the trailing twelve months is around 2.92%, more than EQLT's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.72%	3.10%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IQDY FlexShares International Quality Dividend Dynamic Index Fund	2.92%	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 EQLT in my portfolio?

IQDY and EQLT have a correlation of 0.84, 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 EQLT?

EQLT has higher volatility (6.65%) compared to IQDY (6.18%). In terms of maximum drawdown, IQDY dropped -39.60% vs EQLT's -17.38%.

Which ETF is better, IQDY or EQLT?

On 1-year performance, EQLT leads with 49.51% vs 38.36% for IQDY. On fees, EQLT is cheaper at 0.35% per year. On volatility, IQDY has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQDY or EQLT?

Over the 1-year period, EQLT has performed better with a 49.51% return vs 38.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQDY or EQLT?

EQLT is cheaper with a 0.35% expense ratio, compared with 0.47% for IQDY.

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

IQDY has the higher dividend yield at 2.92%, compared with 2.72% for EQLT.

What is the main difference between IQDY and EQLT?

IQDY tracks Northern Trust International Quality Dividend Dynamic Index, while EQLT tracks MSCI Emerging Markets Quality Factor Select Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.47% for IQDY and 0.35% for EQLT.

Which has better risk-adjusted returns?

IQDY currently has the higher Sharpe Ratio (2.17 vs 2.11), 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.