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QLVD vs. EELV
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QLVD vs. EELV

Last updated Apr 1, 2026

Compare and contrast key facts about FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) and Invesco S&P Emerging Markets Low Volatility ETF (EELV).

QLVD and EELV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLVD is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Developed Markets ex US Quality Low Volatility Index. It was launched on Jul 15, 2019. EELV is a passively managed fund by Invesco that tracks the performance of the S&P BMI Emerging Markets Low Volatility Index. It was launched on Jan 13, 2012. Both QLVD and EELV 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

QLVD vs. EELV - 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 Invesco S&P Emerging Markets Low Volatility ETF (EELV). The values are adjusted to include any dividend payments, if applicable.

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QLVD vs. EELV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund		3.29%24.21%4.67%11.57%-12.09%9.04%3.00%6.35%
EELV
Invesco S&P Emerging Markets Low Volatility ETF		3.35%21.97%1.90%8.85%-3.98%16.15%-3.89%1.67%

Returns By Period

The year-to-date returns for both investments are quite close, with QLVD having a 3.29% return and EELV slightly higher at 3.35%.

QLVD

1D
2.09%
1M
-5.62%
YTD
3.29%
6M
6.74%
1Y
17.40%
3Y*
12.29%
5Y*
7.17%
10Y*
—

EELV

1D
2.07%
1M
-4.13%
YTD
3.35%
6M
6.88%
1Y
20.18%
3Y*
11.22%
5Y*
7.96%
10Y*
6.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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FlexShares Developed Markets ex-US Quality Low Volatility Index Fund

Invesco S&P Emerging Markets Low Volatility ETF

Often compared with QLVD:
QLVD vs. JEPIQLVD vs. DEEFQLVD vs. EFAVQLVD vs. SCHYQLVD vs. LVHIQLVD vs. IDLVQLVD vs. LGLV
Often compared with EELV:
EELV vs. JPEMEELV vs. MINDXEELV vs. IEMGEELV vs. EDIVEELV vs. SMHEELV vs. JPSTEELV vs. SPEM

QLVD vs. EELV - Expense Ratio Comparison

QLVD has a 0.32% expense ratio, which is higher than EELV's 0.30% expense ratio.

QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund
EELV
Invesco S&P Emerging Markets Low Volatility ETF

Return for Risk

QLVD vs. EELV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QLVD
QLVD Risk / Return Rank: 7777
Overall Rank
QLVD Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
QLVD Sortino Ratio Rank: 7979
Sortino Ratio Rank
QLVD Omega Ratio Rank: 7575
Omega Ratio Rank
QLVD Calmar Ratio Rank: 7979
Calmar Ratio Rank
QLVD Martin Ratio Rank: 7777
Martin Ratio Rank
EELV
EELV Risk / Return Rank: 8585
Overall Rank
EELV Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
EELV Sortino Ratio Rank: 8686
Sortino Ratio Rank
EELV Omega Ratio Rank: 8585
Omega Ratio Rank
EELV Calmar Ratio Rank: 8585
Calmar Ratio Rank
EELV Martin Ratio Rank: 8484
Martin Ratio Rank
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. EELV - 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 Invesco S&P Emerging Markets Low Volatility ETF (EELV). 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.

QLVDEELVDifference

Sharpe ratio

Return per unit of total volatility

1.41

1.65

-0.25

Sortino ratio

Return per unit of downside risk

2.00

2.31

-0.31

Omega ratio

Gain probability vs. loss probability

1.28

1.33

-0.05

Calmar ratio

Return relative to maximum drawdown

2.11

2.52

-0.41

Martin ratio

Return relative to average drawdown

8.00

9.42

-1.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLVD vs. EELV - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 1.41, which is comparable to the EELV Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of QLVD and EELV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QLVDEELVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.41

1.65

-0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.69

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.45

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.30

+0.20

Correlation

The correlation between QLVD and EELV is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QLVD vs. EELV - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 2.77%, less than EELV's 3.62% yield.

TTM20252024202320222021202020192018201720162015
QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund		2.77%2.87%3.01%3.33%2.47%3.06%1.78%1.06%0.00%0.00%0.00%0.00%
EELV
Invesco S&P Emerging Markets Low Volatility ETF		3.62%3.75%4.70%4.00%3.45%4.35%2.82%3.14%5.50%2.92%2.29%2.53%

Drawdowns

QLVD vs. EELV - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, smaller than the maximum EELV drawdown of -36.35%. Use the drawdown chart below to compare losses from any high point for QLVD and EELV.

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Drawdown Indicators

QLVDEELVDifference

Max Drawdown

Largest peak-to-trough decline

-28.20%

-36.35%

+8.15%

Max Drawdown (1Y)

Largest decline over 1 year

-8.15%

-8.22%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-23.99%

-19.04%

-4.95%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.35%

—

Current Drawdown

Current decline from peak

-5.62%

-5.28%

-0.34%

Average Drawdown

Average peak-to-trough decline

-5.27%

-9.00%

+3.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.14%

2.20%

-0.06%

Volatility

QLVD vs. EELV - Volatility Comparison

The current volatility for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) is 5.23%, while Invesco S&P Emerging Markets Low Volatility ETF (EELV) has a volatility of 5.96%. This indicates that QLVD experiences smaller price fluctuations and is considered to be less risky than EELV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QLVDEELVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.23%

5.96%

-0.73%

Volatility (6M)

Calculated over the trailing 6-month period

7.71%

8.40%

-0.69%

Volatility (1Y)

Calculated over the trailing 1-year period

12.43%

12.26%

+0.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.68%

11.52%

+0.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.02%

13.70%

+0.32%