QLC vs. ESMV
QLC (FlexShares US Quality Large Cap Index Fund) and ESMV (iShares ESG MSCI USA Min Vol Factor ETF) are both Large Cap Blend Equities funds - QLC tracks the Northern Trust Quality Large Cap Index while ESMV tracks the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, QLC returned 24.47%/yr vs 11.08%/yr for ESMV. A 0.75 correlation means they provide meaningful diversification when combined. QLC charges 0.25%/yr vs 0.18%/yr for ESMV.
Performance
QLC vs. ESMV - Performance Comparison
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Returns By Period
In the year-to-date period, QLC achieves a 9.23% return, which is significantly higher than ESMV's 4.30% return.
QLC
- 1D
- -2.57%
- 1M
- 1.04%
- YTD
- 9.23%
- 6M
- 9.35%
- 1Y
- 30.96%
- 3Y*
- 24.47%
- 5Y*
- 14.84%
- 10Y*
- 14.50%
ESMV
- 1D
- -1.34%
- 1M
- 2.09%
- YTD
- 4.30%
- 6M
- 4.42%
- 1Y
- 6.28%
- 3Y*
- 11.08%
- 5Y*
- —
- 10Y*
- —
QLC vs. ESMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QLC FlexShares US Quality Large Cap Index Fund | 9.23% | 23.26% | 26.71% | 26.02% | -17.21% | 2.90% |
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 4.30% | 5.34% | 13.06% | 12.20% | -11.08% | 3.20% |
Correlation
The correlation between QLC and ESMV is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2021 | 0.75 |
The correlation between QLC and ESMV shifts across timeframes, from 0.63 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QLC vs. ESMV — Risk / Return Rank
QLC
ESMV
QLC vs. ESMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Large Cap Index Fund (QLC) and iShares ESG MSCI USA Min Vol Factor ETF (ESMV). 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.
| QLC | ESMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.12 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 0.90 | +2.62 |
| Martin ratioReturn relative to average drawdown | 16.39 | 2.76 | +13.63 |
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
| QLC | ESMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 0.62 | +1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.42 | +0.37 |
Drawdowns
QLC vs. ESMV - Drawdown Comparison
The maximum QLC drawdown since its inception was -35.86%, which is greater than ESMV's maximum drawdown of -19.77%. Use the drawdown chart below to compare losses from any high point for QLC and ESMV.
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Drawdown Indicators
| QLC | ESMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.86% | -19.77% | -16.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.84% | -7.01% | -1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.49% | -12.16% | -6.33% |
Max Drawdown (5Y)Largest decline over 5 years | -23.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.86% | — | — |
Current DrawdownCurrent decline from peak | -2.66% | -1.71% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -5.32% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 2.28% | -0.39% |
Volatility
QLC vs. ESMV - Volatility Comparison
FlexShares US Quality Large Cap Index Fund (QLC) has a higher volatility of 3.83% compared to iShares ESG MSCI USA Min Vol Factor ETF (ESMV) at 2.73%. This indicates that QLC's price experiences larger fluctuations and is considered to be riskier than ESMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLC | ESMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 2.73% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 6.41% | +3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 10.16% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 13.24% | +3.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.43% | 13.24% | +5.19% |
QLC vs. ESMV - Expense Ratio Comparison
QLC has a 0.25% expense ratio, which is higher than ESMV's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
QLC vs. ESMV - Dividend Comparison
QLC's dividend yield for the trailing twelve months is around 0.89%, less than ESMV's 1.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.60% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLC FlexShares US Quality Large Cap Index Fund | 0.89% | 0.94% | 1.03% | 1.26% | 1.46% | 0.96% | 1.40% | 1.91% | 1.82% | 1.29% | 1.80% | 0.64% |
Frequently Asked Questions
QLC and ESMV have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLC has higher volatility (3.83%) compared to ESMV (2.73%). In terms of maximum drawdown, QLC dropped -35.86% vs ESMV's -19.77%.
On 3-year performance, QLC leads with 24.47% vs 11.08% for ESMV. On fees, ESMV is cheaper at 0.18% per year. On volatility, ESMV has been the lower-risk option at 2.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QLC has performed better with a 24.47% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESMV is cheaper with a 0.18% expense ratio, compared with 0.25% for QLC.
ESMV has the higher dividend yield at 1.60%, compared with 0.89% for QLC.
QLC tracks Northern Trust Quality Large Cap Index, while ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.25% for QLC and 0.18% for ESMV.
QLC currently has the higher Sharpe Ratio (2.46 vs 0.62), 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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