IQDY vs. IEI
IQDY (FlexShares International Quality Dividend Dynamic Index Fund) and IEI (iShares 3-7 Year Treasury Bond ETF) are both exchange-traded funds - IQDY is a Quality Factor fund tracking the Northern Trust International Quality Dividend Dynamic Index, while IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, IQDY returned 11.32%/yr vs 1.16%/yr for IEI. Their -0.05 correlation means they have often moved in opposite directions in the past. IQDY charges 0.47%/yr vs 0.15%/yr for IEI.
Performance
IQDY vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, IQDY achieves a 17.07% return, which is significantly higher than IEI's -0.62% return. Over the past 10 years, IQDY has outperformed IEI with an annualized return of 11.32%, while IEI has yielded a comparatively lower 1.16% annualized return.
IQDY
- 1D
- -0.20%
- 1M
- 0.10%
- 6M
- 9.73%
- YTD
- 17.07%
- 1Y
- 36.33%
- 3Y*
- 22.36%
- 5Y*
- 12.33%
- 10Y*
- 11.32%
- ALL TIME*
- 8.81%
IEI
- 1D
- -0.14%
- 1M
- -0.54%
- 6M
- -0.62%
- YTD
- -0.62%
- 1Y
- 1.16%
- 3Y*
- 3.83%
- 5Y*
- 0.05%
- 10Y*
- 1.16%
- ALL TIME*
- 2.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $154.98M | $144.96M | $146.28M | |
| $954.98K | $579.98K | $424.72K |
IQDY vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IQDY FlexShares International Quality Dividend Dynamic Index Fund | 17.07% | 37.44% | 5.97% | 23.45% | -15.78% | 12.00% | 9.54% | 27.27% | -20.04% | 24.06% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.62% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Correlation
The correlation between IQDY and IEI is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.21 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2013 | -0.05 |
The correlation between IQDY and IEI shifts across timeframes, from -0.05 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IQDY vs. IEI — Risk / Return Rank
IQDY
IEI
IQDY vs. IEI - 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 3-7 Year Treasury Bond ETF (IEI). 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 | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.12 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 0.83 | +2.55 |
| Martin ratioReturn relative to average drawdown | 12.15 | 1.90 | +10.25 |
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Drawdowns
IQDY vs. IEI - Drawdown Comparison
The maximum IQDY drawdown since its inception was -39.60%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for IQDY and IEI.
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Drawdown Indicators
| IQDY | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.60% | -14.60% | -25.00% |
Max Drawdown (1Y)Largest decline over 1 year | -10.42% | -2.50% | -7.92% |
Max Drawdown (3Y)Largest decline over 3 years | -14.76% | -3.66% | -11.10% |
Max Drawdown (5Y)Largest decline over 5 years | -32.30% | -13.82% | -18.48% |
Max Drawdown (10Y)Largest decline over 10 years | -39.60% | -14.60% | -25.00% |
Current DrawdownCurrent decline from peak | -3.62% | -2.05% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -2.67% | -6.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 1.09% | +1.81% |
Volatility
IQDY vs. IEI - Volatility Comparison
FlexShares International Quality Dividend Dynamic Index Fund (IQDY) has a higher volatility of 6.12% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.77%. This indicates that IQDY's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQDY | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.12% | 0.77% | +5.35% |
Volatility (6M)Calculated over the trailing 6-month period | 15.74% | 2.36% | +13.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 3.02% | +14.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 4.78% | +13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 3.93% | +14.34% |
IQDY vs. IEI - Expense Ratio Comparison
IQDY has a 0.47% expense ratio, which is higher than IEI's 0.15% expense ratio.
Dividends
IQDY vs. IEI - Dividend Comparison
IQDY's dividend yield for the trailing twelve months is around 3.00%, less than IEI's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.38% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
IQDY FlexShares International Quality Dividend Dynamic Index Fund | 3.00% | 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
IQDY and IEI have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IQDY has higher volatility (6.12%) compared to IEI (0.77%). In terms of maximum drawdown, IQDY dropped -39.60% vs IEI's -14.60%.
On 10-year performance, IQDY leads with 11.32% vs 1.16% for IEI. On fees, IEI is cheaper at 0.15% per year. On volatility, IEI has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IQDY has performed better with a 11.32% return vs 1.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEI is cheaper with a 0.15% expense ratio, compared with 0.47% for IQDY.
IEI has the higher dividend yield at 3.38%, compared with 3.00% for IQDY.
IQDY is categorized as Quality Factor, while IEI is Government Bonds. IQDY tracks Northern Trust International Quality Dividend Dynamic Index, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.47% for IQDY and 0.15% for IEI.
IQDY currently has the higher Sharpe Ratio (1.98 vs 0.69), 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.
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