QLV vs. LKOR
QLV (FlexShares US Quality Low Volatility Index Fund) and LKOR (FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund) are both exchange-traded funds - QLV is a Volatility Hedged Equity fund tracking the Northern Trust Quality Low Volatility Index, while LKOR is a Corporate Bonds fund tracking the Northern Trust US Long Corporate Bond Quality Value Index. Both are passively managed. Over the past 5 years, QLV returned 10.73%/yr vs -1.59%/yr for LKOR. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.22% expense ratio.
Performance
QLV vs. LKOR - Performance Comparison
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Returns By Period
In the year-to-date period, QLV achieves a 5.48% return, which is significantly higher than LKOR's 0.74% return.
QLV
- 1D
- -0.51%
- 1M
- 2.14%
- YTD
- 5.48%
- 6M
- 5.38%
- 1Y
- 14.06%
- 3Y*
- 15.15%
- 5Y*
- 10.73%
- 10Y*
- —
LKOR
- 1D
- -0.36%
- 1M
- 1.51%
- YTD
- 0.74%
- 6M
- -0.19%
- 1Y
- 7.57%
- 3Y*
- 4.72%
- 5Y*
- -1.59%
- 10Y*
- 2.45%
QLV vs. LKOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
QLV FlexShares US Quality Low Volatility Index Fund | 5.48% | 12.28% | 18.08% | 13.71% | -9.97% | 26.08% | 9.63% | 6.24% |
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 0.74% | 7.04% | -1.02% | 11.64% | -25.55% | -1.51% | 16.00% | 7.52% |
Correlation
The correlation between QLV and LKOR is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.31 |
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Return for Risk
QLV vs. LKOR — Risk / Return Rank
QLV
LKOR
QLV vs. LKOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Low Volatility Index Fund (QLV) and FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR). 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.
| QLV | LKOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.41 | +0.87 |
| Martin ratioReturn relative to average drawdown | 9.69 | 3.43 | +6.26 |
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
| QLV | LKOR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 0.95 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | -0.12 | +0.98 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.25 | +0.44 |
Drawdowns
QLV vs. LKOR - Drawdown Comparison
The maximum QLV drawdown since its inception was -33.71%, roughly equal to the maximum LKOR drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for QLV and LKOR.
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Drawdown Indicators
| QLV | LKOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.71% | -34.78% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -5.39% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -12.05% | -12.74% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.93% | -34.78% | +16.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.78% | — |
Current DrawdownCurrent decline from peak | -0.81% | -13.63% | +12.82% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -10.36% | +6.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.21% | -0.76% |
Volatility
QLV vs. LKOR - Volatility Comparison
The current volatility for FlexShares US Quality Low Volatility Index Fund (QLV) is 1.61%, while FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) has a volatility of 2.41%. This indicates that QLV experiences smaller price fluctuations and is considered to be less risky than LKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLV | LKOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 2.41% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 5.34% | 5.76% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.65% | 8.00% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.64% | 12.90% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.57% | 13.22% | +3.35% |
QLV vs. LKOR - Expense Ratio Comparison
Both QLV and LKOR have an expense ratio of 0.22%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
QLV vs. LKOR - Dividend Comparison
QLV's dividend yield for the trailing twelve months is around 1.52%, less than LKOR's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 5.72% | 5.57% | 5.52% | 4.90% | 4.71% | 4.73% | 6.56% | 3.71% | 4.21% | 3.77% | 5.53% | 1.22% |
QLV FlexShares US Quality Low Volatility Index Fund | 1.52% | 1.60% | 1.66% | 1.60% | 1.74% | 0.96% | 1.24% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QLV and LKOR have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LKOR has higher volatility (2.41%) compared to QLV (1.61%). In terms of maximum drawdown, QLV dropped -33.71% vs LKOR's -34.78%.
On 5-year performance, QLV leads with 10.73% vs -1.59% for LKOR. Both ETFs have the same 0.22% expense ratio. On volatility, QLV has been the lower-risk option at 1.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QLV has performed better with a 10.73% return vs -1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLV and LKOR have the same expense ratio: 0.22% per year.
LKOR has the higher dividend yield at 5.72%, compared with 1.52% for QLV.
QLV is categorized as Volatility Hedged Equity, while LKOR is Corporate Bonds. QLV tracks Northern Trust Quality Low Volatility Index, while LKOR tracks Northern Trust US Long Corporate Bond Quality Value Index.
QLV currently has the higher Sharpe Ratio (1.85 vs 0.95), 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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