QLC vs. GQGU

Last updated Aug 5, 2026

QLC (FlexShares US Quality Large Cap Index Fund) and GQGU (GQG US Equity ETF) are both exchange-traded funds - QLC is a Quality Factor fund tracking the Northern Trust Quality Large Cap Index, while GQGU is a Large Cap Growth Equities fund actively managed by GQG Partners. QLC is passively managed, while GQGU is actively managed. Over the past year, QLC returned 29.86% vs 8.32% for GQGU. Their -0.11 correlation means they have often moved in opposite directions in the past. QLC charges 0.25%/yr vs 0.49%/yr for GQGU.

Performance

QLC vs. GQGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares US Quality Large Cap Index Fund (QLC) and GQG US Equity ETF (GQGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLC achieves a 15.68% return, which is significantly higher than GQGU's 8.76% return.

QLC

• 1D: 1.86%
• 1M: 3.97%
• 6M: 14.01%
• YTD: 15.68%
• 1Y: 29.86%
• 3Y*: 24.86%
• 5Y*: 15.04%
• 10Y*: 14.87%
• ALL TIME*: 14.63%

GQGU

• 1D: 0.64%
• 1M: 3.02%
• 6M: 3.85%
• YTD: 8.76%
• 1Y: 8.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GQGU GQG US Equity ETF	$3.86M	$3.50M	$3.12M
QLC FlexShares US Quality Large Cap Index Fund	$3.27M	$4.10M	$3.64M

QLC vs. GQGU - Yearly Performance Comparison

	2026 (YTD)	2025
QLC FlexShares US Quality Large Cap Index Fund	15.68%	14.04%
GQGU GQG US Equity ETF	8.76%	-1.12%

Correlation

The correlation between QLC and GQGU is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.13
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	-0.11

Return for Risk

QLC vs. GQGU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QLC

QLC Risk / Return Rank: 86
QLC Sharpe Ratio Rank: 87
QLC Sortino Ratio Rank: 86
QLC Omega Ratio Rank: 85
QLC Calmar Ratio Rank: 82
QLC Martin Ratio Rank: 89

GQGU

GQGU Risk / Return Rank: 28
GQGU Sharpe Ratio Rank: 29
GQGU Sortino Ratio Rank: 29
GQGU Omega Ratio Rank: 26
GQGU Calmar Ratio Rank: 28
GQGU Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QLC vs. GQGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Large Cap Index Fund (QLC) and GQG US Equity ETF (GQGU). 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.

	QLC	GQGU	Difference
Sharpe ratio: Return per unit of total volatility	2.27	0.78	+1.49
Sortino ratio: Return per unit of downside risk	3.13	1.19	+1.94
Omega ratio: Gain probability vs. loss probability	1.40	1.14	+0.27
Calmar ratio: Return relative to maximum drawdown	3.39	0.99	+2.40
Martin ratio: Return relative to average drawdown	15.13	2.28	+12.85

QLC vs. GQGU - Sharpe Ratio Comparison

The current QLC Sharpe Ratio is 2.27, which is higher than the GQGU Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of QLC and GQGU, 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

QLC vs. GQGU - Drawdown Comparison

The maximum QLC drawdown since its inception was -35.86%, which is greater than GQGU's maximum drawdown of -8.41%. Use the drawdown chart below to compare losses from any high point for QLC and GQGU.

Drawdown Indicators

	QLC	GQGU	Difference
Max Drawdown Largest peak-to-trough decline	-35.86%	-8.41%	-27.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-8.41%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-18.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.86%	—	—
Current Drawdown Current decline from peak	0.00%	-2.73%	+2.73%
Average Drawdown Average peak-to-trough decline	-4.49%	-3.01%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	3.65%	-1.67%

Volatility

QLC vs. GQGU - Volatility Comparison

FlexShares US Quality Large Cap Index Fund (QLC) has a higher volatility of 3.89% compared to GQG US Equity ETF (GQGU) at 2.35%. This indicates that QLC's price experiences larger fluctuations and is considered to be riskier than GQGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLC	GQGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	2.35%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	8.53%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	10.74%	+2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	10.62%	+6.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	10.62%	+7.79%

QLC vs. GQGU - Expense Ratio Comparison

QLC has a 0.25% expense ratio, which is lower than GQGU's 0.49% expense ratio.

Dividends

QLC vs. GQGU - Dividend Comparison

QLC's dividend yield for the trailing twelve months is around 0.90%, less than GQGU's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQGU GQG US Equity ETF	0.94%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLC FlexShares US Quality Large Cap Index Fund	0.90%	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

Can I hold both QLC and GQGU in my portfolio?

QLC and GQGU have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLC or GQGU?

QLC has higher volatility (3.89%) compared to GQGU (2.35%). In terms of maximum drawdown, QLC dropped -35.86% vs GQGU's -8.41%.

Which ETF is better, QLC or GQGU?

On 1-year performance, QLC leads with 29.86% vs 8.32% for GQGU. On fees, QLC is cheaper at 0.25% per year. On volatility, GQGU has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLC or GQGU?

Over the 1-year period, QLC has performed better with a 29.86% return vs 8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLC or GQGU?

QLC is cheaper with a 0.25% expense ratio, compared with 0.49% for GQGU.

Which ETF pays a higher dividend yield, QLC or GQGU?

GQGU has the higher dividend yield at 0.94%, compared with 0.90% for QLC.

What is the main difference between QLC and GQGU?

QLC is categorized as Quality Factor, while GQGU is Large Cap Growth Equities. They also come from different issuers: Northern Trust and GQG Partners. Their fees differ too: 0.25% for QLC and 0.49% for GQGU.

Which has better risk-adjusted returns?

QLC currently has the higher Sharpe Ratio (2.27 vs 0.78), 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.