QDEF vs. VMAX

Last updated Jun 24, 2026

QDEF (FlexShares Quality Dividend Defensive Index Fund) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. QDEF is passively managed, while VMAX is actively managed. Over the past year, QDEF returned 20.63% vs 29.63% for VMAX. Their correlation of 0.82 suggests significant overlap in exposure. QDEF charges 0.37%/yr vs 0.29%/yr for VMAX.

Performance

QDEF vs. VMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Quality Dividend Defensive Index Fund (QDEF) and Hartford US Value ETF (VMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDEF achieves a 6.76% return, which is significantly lower than VMAX's 15.44% return.

QDEF

• 1D: -0.48%
• 1M: -1.73%
• YTD: 6.76%
• 6M: 5.91%
• 1Y: 20.63%
• 3Y*: 18.58%
• 5Y*: 12.34%
• 10Y*: 12.28%

VMAX

• 1D: -0.08%
• 1M: 3.05%
• YTD: 15.44%
• 6M: 14.38%
• 1Y: 29.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDEF vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QDEF FlexShares Quality Dividend Defensive Index Fund	6.76%	17.43%	21.19%	3.71%
VMAX Hartford US Value ETF	15.44%	15.65%	15.89%	5.71%

Correlation

The correlation between QDEF and VMAX is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.82

The correlation between QDEF and VMAX has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

QDEF vs. VMAX - Sectors Allocation Comparison

Sectors	QDEF	VMAX
Technology	35.4%	13.3%
Healthcare	11.2%	11.1%
Financial Services	10.9%	32.4%
Communication Services	7.3%	6.6%
Consumer Defensive	7.2%	3.7%
Consumer Cyclical	7.2%	3.7%
Industrials	6.4%	5.5%
Real Estate	5.3%	4.4%
Energy	3.5%	11.0%
Basic Materials	2.9%	2.8%
Utilities	2.8%	5.3%

Return for Risk

QDEF vs. VMAX — Risk / Return Rank

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

QDEF

QDEF Risk / Return Rank: 69
QDEF Sharpe Ratio Rank: 69
QDEF Sortino Ratio Rank: 70
QDEF Omega Ratio Rank: 70
QDEF Calmar Ratio Rank: 64
QDEF Martin Ratio Rank: 72

VMAX

VMAX Risk / Return Rank: 85
VMAX Sharpe Ratio Rank: 81
VMAX Sortino Ratio Rank: 80
VMAX Omega Ratio Rank: 77
VMAX Calmar Ratio Rank: 93
VMAX Martin Ratio Rank: 92

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.

QDEF vs. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Quality Dividend Defensive Index Fund (QDEF) and Hartford US Value ETF (VMAX). 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.

	QDEF	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.42	-0.30
Sortino ratio: Return per unit of downside risk	3.00	3.30	-0.30
Omega ratio: Gain probability vs. loss probability	1.39	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.98	6.04	-3.06
Martin ratio: Return relative to average drawdown	12.62	21.18	-8.56

QDEF vs. VMAX - Sharpe Ratio Comparison

The current QDEF Sharpe Ratio is 2.12, which is comparable to the VMAX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of QDEF and VMAX, 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

QDEF vs. VMAX - Drawdown Comparison

The maximum QDEF drawdown since its inception was -35.74%, which is greater than VMAX's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for QDEF and VMAX.

Drawdown Indicators

	QDEF	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-35.74%	-19.05%	-16.69%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-4.93%	-2.02%
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 Drawdown Current decline from peak	-2.35%	-0.39%	-1.96%
Average Drawdown Average peak-to-trough decline	-3.29%	-2.52%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.40%	+0.24%

Volatility

QDEF vs. VMAX - Volatility Comparison

FlexShares Quality Dividend Defensive Index Fund (QDEF) and Hartford US Value ETF (VMAX) have volatilities of 3.06% and 3.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDEF	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	3.17%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.51%	8.83%	-1.32%
Volatility (1Y) Calculated over the trailing 1-year period	9.83%	12.31%	-2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.80%	15.41%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	15.41%	+0.75%

QDEF vs. VMAX - Expense Ratio Comparison

QDEF has a 0.37% expense ratio, which is higher than VMAX's 0.29% expense ratio.

Dividends

QDEF vs. VMAX - Dividend Comparison

QDEF's dividend yield for the trailing twelve months is around 1.63%, less than VMAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QDEF FlexShares Quality Dividend Defensive Index Fund	1.63%	1.74%	1.85%	2.21%	2.42%	1.84%	2.50%	3.17%	7.10%	2.70%	2.90%	3.00%
VMAX Hartford US Value ETF	1.85%	2.14%	1.95%	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 QDEF and VMAX in my portfolio?

QDEF and VMAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDEF or VMAX?

VMAX has higher volatility (3.17%) compared to QDEF (3.06%). In terms of maximum drawdown, QDEF dropped -35.74% vs VMAX's -19.05%.

Which ETF is better, QDEF or VMAX?

On 1-year performance, VMAX leads with 29.63% vs 20.63% for QDEF. On fees, VMAX is cheaper at 0.29% per year. On volatility, QDEF has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDEF or VMAX?

Over the 1-year period, VMAX has performed better with a 29.63% return vs 20.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDEF or VMAX?

VMAX is cheaper with a 0.29% expense ratio, compared with 0.37% for QDEF.

Which ETF pays a higher dividend yield, QDEF or VMAX?

VMAX has the higher dividend yield at 1.85%, compared with 1.63% for QDEF.

What is the main difference between QDEF and VMAX?

They also come from different issuers: FlexShares and Hartford. Their fees differ too: 0.37% for QDEF and 0.29% for VMAX.

Which has better risk-adjusted returns?

VMAX currently has the higher Sharpe Ratio (2.42 vs 2.12), 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.