QDEF vs. ELCV
QDEF (FlexShares Quality Dividend Defensive Index Fund) and ELCV (Eventide High Dividend ETF) are both Large Cap Value Equities funds. QDEF is passively managed, while ELCV is actively managed. Over the past year, QDEF returned 23.31% vs 30.91% for ELCV. A 0.74 correlation means they provide meaningful diversification when combined. QDEF charges 0.37%/yr vs 0.49%/yr for ELCV.
Performance
QDEF vs. ELCV - Performance Comparison
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Returns By Period
In the year-to-date period, QDEF achieves a 8.81% return, which is significantly lower than ELCV's 21.38% return.
QDEF
- 1D
- -0.47%
- 1M
- 3.94%
- YTD
- 8.81%
- 6M
- 8.87%
- 1Y
- 23.31%
- 3Y*
- 19.60%
- 5Y*
- 12.64%
- 10Y*
- 12.34%
ELCV
- 1D
- 0.48%
- 1M
- 4.35%
- YTD
- 21.38%
- 6M
- 20.08%
- 1Y
- 30.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QDEF vs. ELCV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QDEF FlexShares Quality Dividend Defensive Index Fund | 8.81% | 17.43% | -0.55% |
ELCV Eventide High Dividend ETF | 21.38% | 9.96% | -1.81% |
Correlation
The correlation between QDEF and ELCV is 0.71, 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 | 0.71 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2024 | 0.74 |
The correlation between QDEF and ELCV has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.
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Return for Risk
QDEF vs. ELCV — Risk / Return Rank
QDEF
ELCV
QDEF vs. ELCV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Quality Dividend Defensive Index Fund (QDEF) and Eventide High Dividend ETF (ELCV). 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.
| QDEF | ELCV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 6.15 | -2.78 |
| Martin ratioReturn relative to average drawdown | 14.62 | 21.81 | -7.19 |
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
| QDEF | ELCV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 2.71 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 1.15 | -0.31 |
Drawdowns
QDEF vs. ELCV - Drawdown Comparison
The maximum QDEF drawdown since its inception was -35.74%, which is greater than ELCV's maximum drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for QDEF and ELCV.
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Drawdown Indicators
| QDEF | ELCV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.74% | -18.38% | -17.36% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -5.05% | -1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -14.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.37% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.74% | — | — |
Current DrawdownCurrent decline from peak | -0.47% | 0.00% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -3.75% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.43% | +0.17% |
Volatility
QDEF vs. ELCV - Volatility Comparison
The current volatility for FlexShares Quality Dividend Defensive Index Fund (QDEF) is 2.31%, while Eventide High Dividend ETF (ELCV) has a volatility of 3.61%. This indicates that QDEF experiences smaller price fluctuations and is considered to be less risky than ELCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QDEF | ELCV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 3.61% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.16% | 8.75% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.62% | 11.47% | -1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 15.38% | -1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 15.38% | +0.79% |
QDEF vs. ELCV - Expense Ratio Comparison
QDEF has a 0.37% expense ratio, which is lower than ELCV's 0.49% expense ratio.
Dividends
QDEF vs. ELCV - Dividend Comparison
QDEF's dividend yield for the trailing twelve months is around 1.59%, less than ELCV's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELCV Eventide High Dividend ETF | 1.76% | 2.34% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QDEF FlexShares Quality Dividend Defensive Index Fund | 1.59% | 1.74% | 1.85% | 2.21% | 2.42% | 1.84% | 2.50% | 3.17% | 7.10% | 2.70% | 2.90% | 3.00% |
Frequently Asked Questions
QDEF and ELCV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELCV has higher volatility (3.61%) compared to QDEF (2.31%). In terms of maximum drawdown, QDEF dropped -35.74% vs ELCV's -18.38%.
On 1-year performance, ELCV leads with 30.91% vs 23.31% for QDEF. On fees, QDEF is cheaper at 0.37% per year. On volatility, QDEF has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ELCV has performed better with a 30.91% return vs 23.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QDEF is cheaper with a 0.37% expense ratio, compared with 0.49% for ELCV.
ELCV has the higher dividend yield at 1.76%, compared with 1.59% for QDEF.
They also come from different issuers: FlexShares and Eventide. Their fees differ too: 0.37% for QDEF and 0.49% for ELCV.
ELCV currently has the higher Sharpe Ratio (2.71 vs 2.44), 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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