IQDY vs. PATN

Last updated Jun 26, 2026

IQDY (FlexShares International Quality Dividend Dynamic Index Fund) and PATN (Pacer Nasdaq International Patent Leaders ETF) are both Foreign Large Cap Equities funds - IQDY tracks the Northern Trust International Quality Dividend Dynamic Index while PATN tracks the Nasdaq International Patent Leaders Index. Both are passively managed. Over the past year, IQDY returned 38.52% vs 65.22% for PATN. Their correlation of 0.87 suggests significant overlap in exposure. IQDY charges 0.47%/yr vs 0.65%/yr for PATN.

Performance

IQDY vs. PATN - Performance Comparison

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

Returns By Period

In the year-to-date period, IQDY achieves a 17.90% return, which is significantly lower than PATN's 37.02% return.

IQDY

• 1D: 1.14%
• 1M: 0.62%
• YTD: 17.90%
• 6M: 17.74%
• 1Y: 38.52%
• 3Y*: 24.40%
• 5Y*: 11.82%
• 10Y*: 12.21%

PATN

• 1D: 1.53%
• 1M: 1.35%
• YTD: 37.02%
• 6M: 37.75%
• 1Y: 65.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQDY vs. PATN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQDY FlexShares International Quality Dividend Dynamic Index Fund	17.90%	37.44%	-2.54%
PATN Pacer Nasdaq International Patent Leaders ETF	37.02%	40.01%	-1.73%

Correlation

The correlation between IQDY and PATN is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.87

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

IQDY vs. PATN - Sectors Allocation Comparison

Sectors	IQDY	PATN
Financial Services	25.5%	0.5%
Technology	21.3%	52.5%
Industrials	13.8%	14.8%
Consumer Cyclical	8.7%	7.0%
Basic Materials	7.9%	2.4%
Energy	6.6%	2.1%
Healthcare	5.3%	9.4%
Consumer Defensive	3.4%	5.2%
Communication Services	3.3%	6.1%
Utilities	3.0%	-
Real Estate	1.2%	-

Return for Risk

IQDY vs. PATN — Risk / Return Rank

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

IQDY

IQDY Risk / Return Rank: 80
IQDY Sharpe Ratio Rank: 82
IQDY Sortino Ratio Rank: 77
IQDY Omega Ratio Rank: 80
IQDY Calmar Ratio Rank: 81
IQDY Martin Ratio Rank: 82

PATN

PATN Risk / Return Rank: 89
PATN Sharpe Ratio Rank: 91
PATN Sortino Ratio Rank: 86
PATN Omega Ratio Rank: 90
PATN Calmar Ratio Rank: 88
PATN Martin Ratio Rank: 90

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. PATN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares International Quality Dividend Dynamic Index Fund (IQDY) and Pacer Nasdaq International Patent Leaders ETF (PATN). 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	PATN	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.75	-0.47
Sortino ratio: Return per unit of downside risk	3.00	3.36	-0.36
Omega ratio: Gain probability vs. loss probability	1.41	1.49	-0.08
Calmar ratio: Return relative to maximum drawdown	3.72	4.55	-0.84
Martin ratio: Return relative to average drawdown	14.25	17.62	-3.37

IQDY vs. PATN - Sharpe Ratio Comparison

The current IQDY Sharpe Ratio is 2.27, which is comparable to the PATN Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of IQDY and PATN, 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. PATN - Drawdown Comparison

The maximum IQDY drawdown since its inception was -39.60%, which is greater than PATN's maximum drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for IQDY and PATN.

Drawdown Indicators

	IQDY	PATN	Difference
Max Drawdown Largest peak-to-trough decline	-39.60%	-16.77%	-22.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-14.40%	+3.98%
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	-2.94%	-3.51%	+0.57%
Average Drawdown Average peak-to-trough decline	-9.07%	-3.17%	-5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	3.71%	-1.00%

Volatility

IQDY vs. PATN - Volatility Comparison

The current volatility for FlexShares International Quality Dividend Dynamic Index Fund (IQDY) is 7.26%, while Pacer Nasdaq International Patent Leaders ETF (PATN) has a volatility of 12.22%. This indicates that IQDY experiences smaller price fluctuations and is considered to be less risky than PATN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQDY	PATN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	12.22%	-4.96%
Volatility (6M) Calculated over the trailing 6-month period	14.92%	21.41%	-6.49%
Volatility (1Y) Calculated over the trailing 1-year period	17.04%	23.86%	-6.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.03%	22.24%	-4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	22.24%	-4.01%

IQDY vs. PATN - Expense Ratio Comparison

IQDY has a 0.47% expense ratio, which is lower than PATN's 0.65% expense ratio.

Dividends

IQDY vs. PATN - Dividend Comparison

IQDY's dividend yield for the trailing twelve months is around 2.97%, more than PATN's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQDY FlexShares International Quality Dividend Dynamic Index Fund	2.97%	3.26%	6.95%	6.45%	5.52%	3.89%	2.62%	3.85%	5.97%	3.57%	3.77%	4.08%
PATN Pacer Nasdaq International Patent Leaders ETF	1.58%	2.25%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IQDY and PATN in my portfolio?

IQDY and PATN have a correlation of 0.87, 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 PATN?

PATN has higher volatility (12.22%) compared to IQDY (7.26%). In terms of maximum drawdown, IQDY dropped -39.60% vs PATN's -16.77%.

Which ETF is better, IQDY or PATN?

On 1-year performance, PATN leads with 65.22% vs 38.52% for IQDY. On fees, IQDY is cheaper at 0.47% per year. On volatility, IQDY has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQDY or PATN?

Over the 1-year period, PATN has performed better with a 65.22% return vs 38.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQDY or PATN?

IQDY is cheaper with a 0.47% expense ratio, compared with 0.65% for PATN.

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

IQDY has the higher dividend yield at 2.97%, compared with 1.58% for PATN.

What is the main difference between IQDY and PATN?

IQDY tracks Northern Trust International Quality Dividend Dynamic Index, while PATN tracks Nasdaq International Patent Leaders Index. They also come from different issuers: Northern Trust and Pacer. Their fees differ too: 0.47% for IQDY and 0.65% for PATN.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (2.75 vs 2.27), 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.