MBSD vs. QLV
MBSD (FlexShares Disciplined Duration MBS Index Fund) and QLV (FlexShares US Quality Low Volatility Index Fund) are both exchange-traded funds - MBSD is a Mortgage Backed Securities fund tracking the ICE BofA Constrained Duration US Mortgage Backed Securities, 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, MBSD returned 0.62%/yr vs 10.73%/yr for QLV. At a 0.15 correlation, their price movements are largely independent. MBSD charges 0.20%/yr vs 0.22%/yr for QLV.
Performance
MBSD vs. QLV - Performance Comparison
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Returns By Period
In the year-to-date period, MBSD achieves a 0.42% return, which is significantly lower than QLV's 5.48% return.
MBSD
- 1D
- -0.22%
- 1M
- 0.16%
- YTD
- 0.42%
- 6M
- 0.52%
- 1Y
- 5.26%
- 3Y*
- 4.31%
- 5Y*
- 0.62%
- 10Y*
- 1.37%
QLV
- 1D
- -0.51%
- 1M
- 2.14%
- YTD
- 5.48%
- 6M
- 5.38%
- 1Y
- 14.06%
- 3Y*
- 15.15%
- 5Y*
- 10.73%
- 10Y*
- —
MBSD vs. QLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MBSD FlexShares Disciplined Duration MBS Index Fund | 0.42% | 7.12% | 2.30% | 4.46% | -9.49% | -1.40% | 5.43% | 1.97% |
QLV FlexShares US Quality Low Volatility Index Fund | 5.48% | 12.28% | 18.08% | 13.71% | -9.97% | 26.08% | 9.63% | 6.24% |
Correlation
The correlation between MBSD and QLV is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.15 |
The correlation between MBSD and QLV shifts across timeframes, from 0.15 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MBSD vs. QLV — Risk / Return Rank
MBSD
QLV
MBSD vs. QLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Disciplined Duration MBS Index Fund (MBSD) 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.
| MBSD | QLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.28 | +0.15 |
| Martin ratioReturn relative to average drawdown | 7.71 | 9.69 | -1.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MBSD | QLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 1.85 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.85 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.69 | -0.31 |
Drawdowns
MBSD vs. QLV - Drawdown Comparison
The maximum MBSD drawdown since its inception was -14.36%, smaller than the maximum QLV drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for MBSD and QLV.
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Drawdown Indicators
| MBSD | QLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -33.71% | +19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -6.19% | +4.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -12.05% | +7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -14.10% | -17.93% | +3.83% |
Max Drawdown (10Y)Largest decline over 10 years | -14.36% | — | — |
Current DrawdownCurrent decline from peak | -1.19% | -0.81% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -4.00% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 1.45% | -0.77% |
Volatility
MBSD vs. QLV - Volatility Comparison
The current volatility for FlexShares Disciplined Duration MBS Index Fund (MBSD) is 1.15%, while FlexShares US Quality Low Volatility Index Fund (QLV) has a volatility of 1.61%. This indicates that MBSD experiences smaller price fluctuations and is considered to be less risky than QLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBSD | QLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.61% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 5.34% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 7.65% | -4.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 12.64% | -7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 16.57% | -12.31% |
MBSD vs. QLV - Expense Ratio Comparison
MBSD has a 0.20% 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
MBSD vs. QLV - Dividend Comparison
MBSD's dividend yield for the trailing twelve months is around 4.19%, more than QLV's 1.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBSD FlexShares Disciplined Duration MBS Index Fund | 4.19% | 4.23% | 3.91% | 3.39% | 3.03% | 2.41% | 2.78% | 3.42% | 3.22% | 3.30% | 3.02% | 3.46% |
QLV FlexShares US Quality Low Volatility Index Fund | 1.52% | 1.60% | 1.66% | 1.60% | 1.74% | 0.96% | 1.24% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MBSD and QLV have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLV has higher volatility (1.61%) compared to MBSD (1.15%). In terms of maximum drawdown, MBSD dropped -14.36% vs QLV's -33.71%.
On 5-year performance, QLV leads with 10.73% vs 0.62% for MBSD. On fees, MBSD is cheaper at 0.20% per year. On volatility, MBSD has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QLV has performed better with a 10.73% return vs 0.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBSD is cheaper with a 0.20% expense ratio, compared with 0.22% for QLV.
MBSD has the higher dividend yield at 4.19%, compared with 1.52% for QLV.
MBSD is categorized as Mortgage Backed Securities, while QLV is Volatility Hedged Equity. MBSD tracks ICE BofA Constrained Duration US Mortgage Backed Securities, while QLV tracks Northern Trust Quality Low Volatility Index. Their fees differ too: 0.20% for MBSD and 0.22% for QLV.
QLV currently has the higher Sharpe Ratio (1.85 vs 1.50), 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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