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QDF vs. QDEF
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QDF vs. QDEF

Last updated Apr 1, 2026

Compare and contrast key facts about FlexShares Quality Dividend Index Fund (QDF) and FlexShares Quality Dividend Defensive Index Fund (QDEF).

QDF and QDEF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QDF is a passively managed fund by FlexShares that tracks the performance of the Northern Trust Quality Dividend Index. It was launched on Dec 14, 2012. QDEF is a passively managed fund by FlexShares that tracks the performance of the Northern Trust Quality Dividend Defensive Index. It was launched on Dec 14, 2012. Both QDF and QDEF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QDF vs. QDEF - Performance Comparison

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

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QDF vs. QDEF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QDF
FlexShares Quality Dividend Index Fund		-1.88%16.58%16.95%19.71%-12.13%26.65%4.86%25.71%-7.97%17.42%
QDEF
FlexShares Quality Dividend Defensive Index Fund		-1.16%17.43%21.19%17.48%-10.94%26.04%3.15%24.90%-4.10%17.04%

Returns By Period

In the year-to-date period, QDF achieves a -1.88% return, which is significantly lower than QDEF's -1.16% return. Both investments have delivered pretty close results over the past 10 years, with QDF having a 11.00% annualized return and QDEF not far ahead at 11.40%.

QDF

1D
2.43%
1M
-4.83%
YTD
-1.88%
6M
0.44%
1Y
17.72%
3Y*
15.49%
5Y*
10.28%
10Y*
11.00%

QDEF

1D
2.06%
1M
-4.61%
YTD
-1.16%
6M
0.72%
1Y
16.27%
3Y*
16.97%
5Y*
11.45%
10Y*
11.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

FlexShares Quality Dividend Index Fund

FlexShares Quality Dividend Defensive Index Fund

Often compared with QDF:
QDF vs. SCHDQDF vs. QQQQDF vs. DGRWQDF vs. FDVVQDF vs. VOOQDF vs. SPHDQDF vs. COWZ
Often compared with QDEF:
QDEF vs. SCHDQDEF vs. DGRWQDEF vs. ^SP500TRQDEF vs. SCHBQDEF vs. FXAIXQDEF vs. MGVQDEF vs. COWZ

QDF vs. QDEF - Expense Ratio Comparison

Both QDF and QDEF have an expense ratio of 0.37%.

QDF
FlexShares Quality Dividend Index Fund
QDEF
FlexShares Quality Dividend Defensive Index Fund

Return for Risk

QDF vs. QDEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QDF
QDF Risk / Return Rank: 6363
Overall Rank
QDF Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
QDF Sortino Ratio Rank: 6060
Sortino Ratio Rank
QDF Omega Ratio Rank: 6464
Omega Ratio Rank
QDF Calmar Ratio Rank: 6060
Calmar Ratio Rank
QDF Martin Ratio Rank: 7171
Martin Ratio Rank
QDEF
QDEF Risk / Return Rank: 6868
Overall Rank
QDEF Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
QDEF Sortino Ratio Rank: 6666
Sortino Ratio Rank
QDEF Omega Ratio Rank: 6969
Omega Ratio Rank
QDEF Calmar Ratio Rank: 6464
Calmar Ratio Rank
QDEF Martin Ratio Rank: 7676
Martin Ratio Rank
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.

QDF vs. QDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Quality Dividend Index Fund (QDF) and FlexShares Quality Dividend Defensive Index Fund (QDEF). 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.

QDFQDEFDifference

Sharpe ratio

Return per unit of total volatility

1.01

1.11

-0.10

Sortino ratio

Return per unit of downside risk

1.52

1.64

-0.12

Omega ratio

Gain probability vs. loss probability

1.23

1.25

-0.02

Calmar ratio

Return relative to maximum drawdown

1.47

1.57

-0.10

Martin ratio

Return relative to average drawdown

7.12

7.90

-0.78

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDF vs. QDEF - Sharpe Ratio Comparison

The current QDF Sharpe Ratio is 1.01, which is comparable to the QDEF Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of QDF and QDEF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QDFQDEFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.01

1.11

-0.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.83

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.71

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.80

-0.07

Correlation

The correlation between QDF and QDEF is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QDF vs. QDEF - Dividend Comparison

QDF's dividend yield for the trailing twelve months is around 1.69%, less than QDEF's 1.75% yield.

TTM20252024202320222021202020192018201720162015
QDF
FlexShares Quality Dividend Index Fund		1.69%1.65%1.93%2.19%2.45%1.90%2.38%3.05%4.29%2.70%3.07%3.04%
QDEF
FlexShares Quality Dividend Defensive Index Fund		1.75%1.74%1.85%2.21%2.42%1.84%2.50%3.17%7.10%2.70%2.90%3.00%

Drawdowns

QDF vs. QDEF - Drawdown Comparison

The maximum QDF drawdown since its inception was -36.67%, roughly equal to the maximum QDEF drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for QDF and QDEF.

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Drawdown Indicators

QDFQDEFDifference

Max Drawdown

Largest peak-to-trough decline

-36.67%

-35.74%

-0.93%

Max Drawdown (1Y)

Largest decline over 1 year

-12.83%

-11.03%

-1.80%

Max Drawdown (5Y)

Largest decline over 5 years

-22.06%

-21.37%

-0.69%

Max Drawdown (10Y)

Largest decline over 10 years

-36.67%

-35.74%

-0.93%

Current Drawdown

Current decline from peak

-5.66%

-5.04%

-0.62%

Average Drawdown

Average peak-to-trough decline

-3.68%

-3.33%

-0.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

2.19%

+0.45%

Volatility

QDF vs. QDEF - Volatility Comparison

FlexShares Quality Dividend Index Fund (QDF) has a higher volatility of 4.79% compared to FlexShares Quality Dividend Defensive Index Fund (QDEF) at 3.96%. This indicates that QDF's price experiences larger fluctuations and is considered to be riskier than QDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QDFQDEFDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.79%

3.96%

+0.83%

Volatility (6M)

Calculated over the trailing 6-month period

9.12%

7.58%

+1.54%

Volatility (1Y)

Calculated over the trailing 1-year period

17.63%

14.72%

+2.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.60%

13.83%

+1.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.38%

16.18%

+1.20%