QLV vs. SQLV

Last updated Aug 4, 2026

QLV (FlexShares US Quality Low Volatility Index Fund) and SQLV (Royce Quant Small-Cap Quality Value ETF) are both Quality Factor funds. QLV is passively managed, while SQLV is actively managed. Over the past 5 years, QLV returned 10.05%/yr vs 8.73%/yr for SQLV. Their 0.57 correlation means they have sometimes moved together and sometimes differently. QLV charges 0.22%/yr vs 0.60%/yr for SQLV.

Performance

QLV vs. SQLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares US Quality Low Volatility Index Fund (QLV) and Royce Quant Small-Cap Quality Value ETF (SQLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLV achieves a 9.55% return, which is significantly lower than SQLV's 26.53% return.

QLV

• 1D: 0.50%
• 1M: 1.91%
• 6M: 6.89%
• YTD: 9.55%
• 1Y: 16.70%
• 3Y*: 15.60%
• 5Y*: 10.05%
• 10Y*: —
• ALL TIME*: 11.67%

SQLV

• 1D: 2.40%
• 1M: 3.42%
• 6M: 19.47%
• YTD: 26.53%
• 1Y: 40.94%
• 3Y*: 13.50%
• 5Y*: 8.73%
• 10Y*: —
• ALL TIME*: 10.20%

*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)
QLV FlexShares US Quality Low Volatility Index Fund	$571.44K	$481.55K	$516.78K
SQLV Royce Quant Small-Cap Quality Value ETF	$1.21M	$631.84K	$254.10K

QLV vs. SQLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QLV FlexShares US Quality Low Volatility Index Fund	9.55%	12.28%	18.08%	13.71%	-9.97%	26.08%	9.63%	5.97%
SQLV Royce Quant Small-Cap Quality Value ETF	26.53%	2.50%	4.76%	21.21%	-12.86%	37.14%	7.13%	8.37%

Correlation

The correlation between QLV and SQLV is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019	0.57

The correlation between QLV and SQLV has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

QLV vs. SQLV - Sectors Allocation Comparison

Sectors	QLV	SQLV
Technology	30.2%	15.9%
Healthcare	14.1%	18.7%
Financial Services	12.3%	19.0%
Consumer Defensive	7.8%	7.4%
Communication Services	7.4%	6.0%
Energy	6.5%	4.0%
Utilities	6.4%	0.2%
Consumer Cyclical	6.4%	13.8%
Industrials	6.3%	10.3%
Real Estate	1.4%	0.9%
Basic Materials	1.3%	3.8%

Return for Risk

QLV vs. SQLV — Risk / Return Rank

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

QLV

QLV Risk / Return Rank: 83
QLV Sharpe Ratio Rank: 86
QLV Sortino Ratio Rank: 89
QLV Omega Ratio Rank: 85
QLV Calmar Ratio Rank: 74
QLV Martin Ratio Rank: 81

SQLV

SQLV Risk / Return Rank: 90
SQLV Sharpe Ratio Rank: 91
SQLV Sortino Ratio Rank: 92
SQLV Omega Ratio Rank: 87
SQLV Calmar Ratio Rank: 93
SQLV Martin Ratio Rank: 89

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.

QLV vs. SQLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Low Volatility Index Fund (QLV) and Royce Quant Small-Cap Quality Value ETF (SQLV). 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.

	QLV	SQLV	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.38	-0.25
Sortino ratio: Return per unit of downside risk	3.13	3.46	-0.33
Omega ratio: Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio: Return relative to maximum drawdown	2.71	4.65	-1.94
Martin ratio: Return relative to average drawdown	11.17	14.61	-3.44

QLV vs. SQLV - Sharpe Ratio Comparison

The current QLV Sharpe Ratio is 2.13, which is comparable to the SQLV Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of QLV and SQLV, 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

QLV vs. SQLV - Drawdown Comparison

The maximum QLV drawdown since its inception was -33.71%, smaller than the maximum SQLV drawdown of -48.34%. Use the drawdown chart below to compare losses from any high point for QLV and SQLV.

Drawdown Indicators

	QLV	SQLV	Difference
Max Drawdown Largest peak-to-trough decline	-33.71%	-48.34%	+14.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-8.84%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-12.05%	-26.86%	+14.81%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-26.86%	+8.93%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.93%	-8.80%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	2.81%	-1.31%

Volatility

QLV vs. SQLV - Volatility Comparison

The current volatility for FlexShares US Quality Low Volatility Index Fund (QLV) is 2.30%, while Royce Quant Small-Cap Quality Value ETF (SQLV) has a volatility of 4.92%. This indicates that QLV experiences smaller price fluctuations and is considered to be less risky than SQLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLV	SQLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	4.92%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	5.98%	11.82%	-5.84%
Volatility (1Y) Calculated over the trailing 1-year period	7.88%	17.32%	-9.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.64%	20.90%	-8.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.43%	23.25%	-6.82%

QLV vs. SQLV - Expense Ratio Comparison

QLV has a 0.22% expense ratio, which is lower than SQLV's 0.60% expense ratio.

Dividends

QLV vs. SQLV - Dividend Comparison

QLV's dividend yield for the trailing twelve months is around 1.52%, more than SQLV's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SQLV Royce Quant Small-Cap Quality Value ETF	0.93%	1.15%	1.11%	1.09%	1.24%	1.12%	1.22%	1.20%	1.08%	0.40%

Frequently Asked Questions

Can I hold both QLV and SQLV in my portfolio?

QLV and SQLV have a correlation of 0.62, 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 SQLV?

SQLV has higher volatility (4.92%) compared to QLV (2.30%). In terms of maximum drawdown, QLV dropped -33.71% vs SQLV's -48.34%.

Which ETF is better, QLV or SQLV?

On 5-year performance, QLV leads with 10.05% vs 8.73% for SQLV. On fees, QLV is cheaper at 0.22% per year. On volatility, QLV has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLV or SQLV?

Over the 5-year period, QLV has performed better with a 10.05% return vs 8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLV or SQLV?

QLV is cheaper with a 0.22% expense ratio, compared with 0.60% for SQLV.

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

QLV has the higher dividend yield at 1.52%, compared with 0.93% for SQLV.

What is the main difference between QLV and SQLV?

They also come from different issuers: Northern Trust and Franklin Templeton. Their fees differ too: 0.22% for QLV and 0.60% for SQLV.

Which has better risk-adjusted returns?

SQLV currently has the higher Sharpe Ratio (2.38 vs 2.13), 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.