QLV vs. SKOR

Last updated Jun 4, 2026

QLV (FlexShares US Quality Low Volatility Index Fund) and SKOR (FlexShares Credit-Scored US 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 SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index. Both are passively managed. Over the past 5 years, QLV returned 10.73%/yr vs 1.78%/yr for SKOR. At a 0.29 correlation, their price movements are largely independent. Both charge a 0.22% expense ratio.

Performance

QLV vs. SKOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares US Quality Low Volatility Index Fund (QLV) and FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLV achieves a 5.48% return, which is significantly higher than SKOR's 0.33% return.

QLV

• 1D: -0.51%
• 1M: 2.14%
• YTD: 5.48%
• 6M: 5.38%
• 1Y: 14.06%
• 3Y*: 15.15%
• 5Y*: 10.73%
• 10Y*: —

SKOR

• 1D: -0.13%
• 1M: 0.27%
• YTD: 0.33%
• 6M: 0.53%
• 1Y: 5.29%
• 3Y*: 5.88%
• 5Y*: 1.78%
• 10Y*: 2.85%

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

QLV vs. SKOR - 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%
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund	0.33%	7.99%	4.42%	7.64%	-9.88%	-1.40%	8.84%	3.25%

Correlation

The correlation between QLV and SKOR 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	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.29

Return for Risk

QLV vs. SKOR — Risk / Return Rank

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

QLV

QLV Risk / Return Rank: 53
QLV Sharpe Ratio Rank: 54
QLV Sortino Ratio Rank: 56
QLV Omega Ratio Rank: 51
QLV Calmar Ratio Rank: 46
QLV Martin Ratio Rank: 56

SKOR

SKOR Risk / Return Rank: 56
SKOR Sharpe Ratio Rank: 57
SKOR Sortino Ratio Rank: 62
SKOR Omega Ratio Rank: 59
SKOR Calmar Ratio Rank: 51
SKOR Martin Ratio Rank: 53

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.

QLV vs. SKOR - 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 US Corporate Bond Index Fund (SKOR). 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	SKOR	Difference
Sharpe ratio Return per unit of total volatility	1.85	1.95	-0.10
Sortino ratio Return per unit of downside risk	2.68	2.91	-0.23
Omega ratio Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio Return relative to maximum drawdown	2.28	2.54	-0.26
Martin ratio Return relative to average drawdown	9.69	9.09	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLV vs. SKOR - Sharpe Ratio Comparison

The current QLV Sharpe Ratio is 1.85, which is comparable to the SKOR Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QLV and SKOR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QLV	SKOR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	1.95	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.41	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.63	+0.06

Drawdowns

QLV vs. SKOR - Drawdown Comparison

The maximum QLV drawdown since its inception was -33.71%, which is greater than SKOR's maximum drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for QLV and SKOR.

Drawdown Indicators

	QLV	SKOR	Difference
Max Drawdown Largest peak-to-trough decline	-33.71%	-15.98%	-17.73%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-2.09%	-4.10%
Max Drawdown (3Y) Largest decline over 3 years	-12.05%	-3.11%	-8.94%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-15.13%	-2.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.98%	—
Current Drawdown Current decline from peak	-0.81%	-0.78%	-0.03%
Average Drawdown Average peak-to-trough decline	-4.00%	-2.65%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	0.58%	+0.87%

Volatility

QLV vs. SKOR - Volatility Comparison

FlexShares US Quality Low Volatility Index Fund (QLV) has a higher volatility of 1.61% compared to FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) at 0.85%. This indicates that QLV's price experiences larger fluctuations and is considered to be riskier than SKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLV	SKOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	0.85%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	5.34%	1.99%	+3.35%
Volatility (1Y) Calculated over the trailing 1-year period	7.65%	2.72%	+4.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.64%	4.42%	+8.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	4.90%	+11.67%

QLV vs. SKOR - Expense Ratio Comparison

Both QLV and SKOR 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. SKOR - Dividend Comparison

QLV's dividend yield for the trailing twelve months is around 1.52%, less than SKOR's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund	4.67%	4.70%	4.90%	3.90%	2.57%	2.55%	3.38%	3.53%	2.85%	2.46%	2.74%	2.25%

Frequently Asked Questions

Can I hold both QLV and SKOR in my portfolio?

QLV and SKOR 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.

Which is riskier, QLV or SKOR?

QLV has higher volatility (1.61%) compared to SKOR (0.85%). In terms of maximum drawdown, QLV dropped -33.71% vs SKOR's -15.98%.

Which ETF is better, QLV or SKOR?

On 5-year performance, QLV leads with 10.73% vs 1.78% for SKOR. Both ETFs have the same 0.22% expense ratio. On volatility, SKOR has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLV or SKOR?

Over the 5-year period, QLV has performed better with a 10.73% return vs 1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLV or SKOR?

QLV and SKOR have the same expense ratio: 0.22% per year.

Which ETF pays a higher dividend yield, QLV or SKOR?

SKOR has the higher dividend yield at 4.67%, compared with 1.52% for QLV.

What is the main difference between QLV and SKOR?

QLV is categorized as Volatility Hedged Equity, while SKOR is Corporate Bonds. QLV tracks Northern Trust Quality Low Volatility Index, while SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index.

Which has better risk-adjusted returns?

SKOR currently has the higher Sharpe Ratio (1.95 vs 1.85), 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.