QLV vs. XRLV

Last updated Apr 1, 2026

Compare and contrast key facts about FlexShares US Quality Low Volatility Index Fund (QLV) and Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (XRLV).

QLV and XRLV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLV is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Quality Low Volatility Index. It was launched on Jul 15, 2019. XRLV is a passively managed fund by Invesco that tracks the performance of the S&P 500 Low Volatility Rate Response Index. It was launched on Apr 9, 2015. Both QLV and XRLV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QLV vs. XRLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares US Quality Low Volatility Index Fund (QLV) and Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (XRLV). The values are adjusted to include any dividend payments, if applicable.

QLV vs. XRLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QLV FlexShares US Quality Low Volatility Index Fund	0.10%	12.28%	18.08%	13.71%	-9.97%	26.08%	9.63%	6.24%
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF	6.34%	4.11%	14.11%	0.06%	-4.77%	27.39%	2.56%	5.56%

Returns By Period

QLV

• 1D: 1.54%
• 1M: -3.92%
• YTD: 0.10%
• 6M: 0.74%
• 1Y: 10.86%
• 3Y*: 13.76%
• 5Y*: 10.52%
• 10Y*: —

XRLV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QLV vs. XRLV - Expense Ratio Comparison

QLV has a 0.22% expense ratio, which is lower than XRLV's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XRLV

Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF

QLV

FlexShares US Quality Low Volatility Index Fund

Return for Risk

QLV vs. XRLV — Risk / Return Rank

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

QLV

QLV Risk / Return Rank: 52
QLV Sharpe Ratio Rank: 48
QLV Sortino Ratio Rank: 50
QLV Omega Ratio Rank: 53
QLV Calmar Ratio Rank: 47
QLV Martin Ratio Rank: 63

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. XRLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares US Quality Low Volatility Index Fund (QLV) and Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (XRLV). 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	XRLV	Difference
Sharpe ratio Return per unit of total volatility	0.86	—	—
Sortino ratio Return per unit of downside risk	1.31	—	—
Omega ratio Gain probability vs. loss probability	1.19	—	—
Calmar ratio Return relative to maximum drawdown	1.19	—	—
Martin ratio Return relative to average drawdown	6.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QLV	XRLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	—	—

Correlation

The correlation between QLV and XRLV is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QLV vs. XRLV - Dividend Comparison

QLV's dividend yield for the trailing twelve months is around 1.60%, less than XRLV's 1.86% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QLV FlexShares US Quality Low Volatility Index Fund	1.60%	1.60%	1.66%	1.60%	1.74%	0.96%	1.24%	0.58%	0.00%	0.00%	0.00%	0.00%
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF	1.86%	2.15%	1.94%	2.57%	1.96%	1.26%	1.65%	1.66%	1.76%	1.39%	1.71%	1.07%

Drawdowns

Drawdown Indicators

	QLV	XRLV	Difference
Max Drawdown Largest peak-to-trough decline	-33.71%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	—	—
Current Drawdown Current decline from peak	-4.29%	—	—
Average Drawdown Average peak-to-trough decline	-4.08%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	—	—

Volatility

Volatility by Period

	QLV	XRLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.73%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	—	—