IUS vs. QLV

Last updated Jun 23, 2026

IUS (Invesco RAFI Strategic US ETF) and QLV (FlexShares US Quality Low Volatility Index Fund) are both exchange-traded funds - IUS is a Large Cap Blend Equities fund tracking the Invesco Strategic US Index, while QLV is a Volatility Hedged Equity fund tracking the Northern Trust Quality Low Volatility Index. Both are passively managed. Over the past 5 years, IUS returned 13.86%/yr vs 10.03%/yr for QLV. Their correlation of 0.84 suggests significant overlap in exposure. IUS charges 0.19%/yr vs 0.22%/yr for QLV.

Performance

IUS vs. QLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI Strategic US ETF (IUS) and FlexShares US Quality Low Volatility Index Fund (QLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUS achieves a 14.45% return, which is significantly higher than QLV's 3.68% return.

IUS

• 1D: -0.44%
• 1M: 0.19%
• YTD: 14.45%
• 6M: 14.22%
• 1Y: 31.41%
• 3Y*: 19.92%
• 5Y*: 13.86%
• 10Y*: —

QLV

• 1D: -0.31%
• 1M: -2.51%
• YTD: 3.68%
• 6M: 3.38%
• 1Y: 13.42%
• 3Y*: 14.18%
• 5Y*: 10.03%
• 10Y*: —

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

IUS vs. QLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IUS Invesco RAFI Strategic US ETF	14.45%	16.94%	16.51%	20.79%	-8.34%	32.17%	15.09%	8.27%
QLV FlexShares US Quality Low Volatility Index Fund	3.68%	12.28%	18.08%	13.71%	-9.97%	26.08%	9.63%	5.97%

Correlation

The correlation between IUS and QLV is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019	0.84

The correlation between IUS and QLV has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.

IUS vs. QLV - Sectors Allocation Comparison

Sectors	IUS	QLV
Technology	26.7%	31.1%
Communication Services	13.0%	8.2%
Healthcare	12.6%	13.0%
Consumer Cyclical	10.4%	6.4%
Industrials	9.7%	6.1%
Energy	9.4%	5.2%
Consumer Defensive	6.9%	8.1%
Financial Services	6.8%	11.8%
Basic Materials	3.2%	2.3%
Utilities	1.0%	6.1%
Real Estate	0.4%	1.7%

Return for Risk

IUS vs. QLV — Risk / Return Rank

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

IUS

IUS Risk / Return Rank: 90
IUS Sharpe Ratio Rank: 91
IUS Sortino Ratio Rank: 90
IUS Omega Ratio Rank: 89
IUS Calmar Ratio Rank: 89
IUS Martin Ratio Rank: 92

QLV

QLV Risk / Return Rank: 51
QLV Sharpe Ratio Rank: 53
QLV Sortino Ratio Rank: 54
QLV Omega Ratio Rank: 50
QLV Calmar Ratio Rank: 44
QLV 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.

IUS vs. QLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI Strategic US ETF (IUS) and FlexShares US Quality Low Volatility Index Fund (QLV). 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.

	IUS	QLV	Difference
Sharpe ratio: Return per unit of total volatility	2.95	1.76	+1.19
Sortino ratio: Return per unit of downside risk	4.02	2.54	+1.48
Omega ratio: Gain probability vs. loss probability	1.53	1.31	+0.22
Calmar ratio: Return relative to maximum drawdown	5.13	2.18	+2.95
Martin ratio: Return relative to average drawdown	21.42	9.10	+12.32

IUS vs. QLV - Sharpe Ratio Comparison

The current IUS Sharpe Ratio is 2.95, which is higher than the QLV Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of IUS and QLV, 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

IUS vs. QLV - Drawdown Comparison

The maximum IUS drawdown since its inception was -34.67%, roughly equal to the maximum QLV drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for IUS and QLV.

Drawdown Indicators

	IUS	QLV	Difference
Max Drawdown Largest peak-to-trough decline	-34.67%	-33.71%	-0.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-6.19%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-12.05%	-3.56%
Max Drawdown (5Y) Largest decline over 5 years	-18.72%	-17.93%	-0.79%
Current Drawdown Current decline from peak	-1.74%	-2.51%	+0.77%
Average Drawdown Average peak-to-trough decline	-3.85%	-3.99%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.48%	-0.01%

Volatility

IUS vs. QLV - Volatility Comparison

Invesco RAFI Strategic US ETF (IUS) has a higher volatility of 3.84% compared to FlexShares US Quality Low Volatility Index Fund (QLV) at 1.99%. This indicates that IUS's price experiences larger fluctuations and is considered to be riskier than QLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUS	QLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	1.99%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	8.03%	5.52%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	10.71%	7.67%	+3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	12.64%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	16.52%	+1.51%

IUS vs. QLV - Expense Ratio Comparison

IUS has a 0.19% expense ratio, which is lower than QLV's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUS vs. QLV - Dividend Comparison

IUS's dividend yield for the trailing twelve months is around 1.62%, more than QLV's 1.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IUS Invesco RAFI Strategic US ETF	1.62%	1.48%	1.52%	1.72%	1.78%	1.46%	1.74%	1.77%	0.73%
QLV FlexShares US Quality Low Volatility Index Fund	1.60%	1.60%	1.66%	1.60%	1.74%	0.96%	1.24%	0.58%	0.00%

Frequently Asked Questions

Can I hold both IUS and QLV in my portfolio?

IUS and QLV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IUS or QLV?

IUS has higher volatility (3.84%) compared to QLV (1.99%). In terms of maximum drawdown, IUS dropped -34.67% vs QLV's -33.71%.

Which ETF is better, IUS or QLV?

On 5-year performance, IUS leads with 13.86% vs 10.03% for QLV. On fees, IUS is cheaper at 0.19% per year. On volatility, QLV has been the lower-risk option at 1.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IUS or QLV?

Over the 5-year period, IUS has performed better with a 13.86% return vs 10.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IUS or QLV?

IUS is cheaper with a 0.19% expense ratio, compared with 0.22% for QLV.

Which ETF pays a higher dividend yield, IUS or QLV?

IUS has the higher dividend yield at 1.62%, compared with 1.60% for QLV.

What is the main difference between IUS and QLV?

IUS is categorized as Large Cap Blend Equities, while QLV is Volatility Hedged Equity. IUS tracks Invesco Strategic US Index, while QLV tracks Northern Trust Quality Low Volatility Index. They also come from different issuers: Invesco and Northern Trust. Their fees differ too: 0.19% for IUS and 0.22% for QLV.

Which has better risk-adjusted returns?

IUS currently has the higher Sharpe Ratio (2.95 vs 1.76), 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.