QLVD vs. DEEF

Last updated Jun 23, 2026

QLVD (FlexShares Developed Markets ex-US Quality Low Volatility Index Fund) and DEEF (Xtrackers FTSE Developed ex US Multifactor ETF) are both exchange-traded funds - QLVD is a Volatility Hedged Equity fund tracking the Northern Trust Developed Markets ex US Quality Low Volatility Index, while DEEF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index. Both are passively managed. Over the past 5 years, QLVD returned 6.04%/yr vs 7.86%/yr for DEEF. Their correlation of 0.88 suggests significant overlap in exposure. QLVD charges 0.32%/yr vs 0.24%/yr for DEEF.

Performance

QLVD vs. DEEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) and Xtrackers FTSE Developed ex US Multifactor ETF (DEEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLVD achieves a 3.09% return, which is significantly lower than DEEF's 9.67% return.

QLVD

• 1D: -0.38%
• 1M: -1.72%
• YTD: 3.09%
• 6M: 3.37%
• 1Y: 9.12%
• 3Y*: 11.82%
• 5Y*: 6.04%
• 10Y*: —

DEEF

• 1D: -0.75%
• 1M: -0.64%
• YTD: 9.67%
• 6M: 10.46%
• 1Y: 23.77%
• 3Y*: 17.60%
• 5Y*: 7.86%
• 10Y*: 8.82%

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

QLVD vs. DEEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	3.09%	24.21%	4.67%	11.57%	-12.09%	9.04%	3.00%	6.26%
DEEF Xtrackers FTSE Developed ex US Multifactor ETF	9.67%	32.36%	2.77%	16.99%	-16.94%	9.22%	7.90%	5.91%

Correlation

The correlation between QLVD and DEEF is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019	0.88

The correlation between QLVD and DEEF has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

QLVD vs. DEEF - Sectors Allocation Comparison

Sectors	QLVD	DEEF
Financial Services	24.8%	14.2%
Industrials	15.2%	25.0%
Consumer Defensive	11.0%	10.0%
Healthcare	10.6%	4.2%
Utilities	7.6%	6.9%
Communication Services	6.6%	4.4%
Consumer Cyclical	5.6%	10.8%
Technology	5.3%	4.8%
Real Estate	5.3%	5.5%
Basic Materials	4.3%	9.2%
Energy	3.8%	5.1%

Return for Risk

QLVD vs. DEEF — Risk / Return Rank

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

QLVD

QLVD Risk / Return Rank: 24
QLVD Sharpe Ratio Rank: 25
QLVD Sortino Ratio Rank: 24
QLVD Omega Ratio Rank: 23
QLVD Calmar Ratio Rank: 24
QLVD Martin Ratio Rank: 24

DEEF

DEEF Risk / Return Rank: 50
DEEF Sharpe Ratio Rank: 53
DEEF Sortino Ratio Rank: 51
DEEF Omega Ratio Rank: 52
DEEF Calmar Ratio Rank: 47
DEEF Martin Ratio Rank: 46

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.

QLVD vs. DEEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) and Xtrackers FTSE Developed ex US Multifactor ETF (DEEF). 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.

	QLVD	DEEF	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.74	-0.87
Sortino ratio: Return per unit of downside risk	1.28	2.41	-1.13
Omega ratio: Gain probability vs. loss probability	1.16	1.32	-0.16
Calmar ratio: Return relative to maximum drawdown	1.12	2.24	-1.12
Martin ratio: Return relative to average drawdown	3.08	7.47	-4.38

QLVD vs. DEEF - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 0.87, which is lower than the DEEF Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of QLVD and DEEF, 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

QLVD vs. DEEF - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, smaller than the maximum DEEF drawdown of -36.48%. Use the drawdown chart below to compare losses from any high point for QLVD and DEEF.

Drawdown Indicators

	QLVD	DEEF	Difference
Max Drawdown Largest peak-to-trough decline	-28.20%	-36.48%	+8.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-10.64%	+2.49%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-11.07%	+1.83%
Max Drawdown (5Y) Largest decline over 5 years	-23.99%	-31.08%	+7.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.48%	—
Current Drawdown Current decline from peak	-5.80%	-4.12%	-1.68%
Average Drawdown Average peak-to-trough decline	-5.24%	-7.08%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.19%	-0.22%

Volatility

QLVD vs. DEEF - Volatility Comparison

The current volatility for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) is 2.92%, while Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) has a volatility of 3.63%. This indicates that QLVD experiences smaller price fluctuations and is considered to be less risky than DEEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVD	DEEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.63%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	11.93%	-3.35%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	13.76%	-3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	14.96%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.96%	16.17%	-2.21%

QLVD vs. DEEF - Expense Ratio Comparison

QLVD has a 0.32% expense ratio, which is higher than DEEF's 0.24% expense ratio.

Dividends

QLVD vs. DEEF - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 3.11%, less than DEEF's 3.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DEEF Xtrackers FTSE Developed ex US Multifactor ETF	3.46%	3.63%	4.04%	3.96%	3.31%	3.84%	2.71%	3.74%	2.80%	2.61%	4.35%
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	3.11%	2.87%	3.01%	3.33%	2.47%	3.06%	1.78%	1.06%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QLVD and DEEF in my portfolio?

QLVD and DEEF have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLVD or DEEF?

DEEF has higher volatility (3.63%) compared to QLVD (2.92%). In terms of maximum drawdown, QLVD dropped -28.20% vs DEEF's -36.48%.

Which ETF is better, QLVD or DEEF?

On 5-year performance, DEEF leads with 7.86% vs 6.04% for QLVD. On fees, DEEF is cheaper at 0.24% per year. On volatility, QLVD has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLVD or DEEF?

Over the 5-year period, DEEF has performed better with a 7.86% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLVD or DEEF?

DEEF is cheaper with a 0.24% expense ratio, compared with 0.32% for QLVD.

Which ETF pays a higher dividend yield, QLVD or DEEF?

DEEF has the higher dividend yield at 3.46%, compared with 3.11% for QLVD.

What is the main difference between QLVD and DEEF?

QLVD is categorized as Volatility Hedged Equity, while DEEF is Foreign Large Cap Equities. QLVD tracks Northern Trust Developed Markets ex US Quality Low Volatility Index, while DEEF tracks FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index. They also come from different issuers: Northern Trust and Deutsche Bank. Their fees differ too: 0.32% for QLVD and 0.24% for DEEF.

Which has better risk-adjusted returns?

DEEF currently has the higher Sharpe Ratio (1.74 vs 0.87), 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.