QLVD vs. LGLV

Last updated Jun 23, 2026

QLVD (FlexShares Developed Markets ex-US Quality Low Volatility Index Fund) and LGLV (SPDR SSGA US Large Cap Low Volatility Index ETF) are both Volatility Hedged Equity funds - QLVD tracks the Northern Trust Developed Markets ex US Quality Low Volatility Index while LGLV tracks the SSGA US Large Cap Low Volatility (TR). Both are passively managed. Over the past 5 years, QLVD returned 6.04%/yr vs 8.17%/yr for LGLV. A 0.67 correlation means they provide meaningful diversification when combined. QLVD charges 0.32%/yr vs 0.12%/yr for LGLV.

Performance

QLVD vs. LGLV - 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 SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). 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 higher than LGLV's 1.90% return.

QLVD

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

LGLV

• 1D: -0.06%
• 1M: -1.22%
• YTD: 1.90%
• 6M: 1.27%
• 1Y: 5.48%
• 3Y*: 11.22%
• 5Y*: 8.17%
• 10Y*: 11.20%

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

QLVD vs. LGLV - 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%
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	1.90%	8.37%	16.22%	9.19%	-8.17%	27.95%	7.42%	4.18%

Correlation

The correlation between QLVD and LGLV is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019	0.67

The correlation between QLVD and LGLV has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.

QLVD vs. LGLV - Sectors Allocation Comparison

Sectors	QLVD	LGLV
Financial Services	24.8%	9.9%
Industrials	15.2%	18.4%
Consumer Defensive	11.0%	5.8%
Healthcare	10.6%	7.1%
Utilities	7.6%	11.6%
Communication Services	6.6%	4.3%
Consumer Cyclical	5.6%	9.1%
Technology	5.3%	9.4%
Real Estate	5.3%	17.6%
Basic Materials	4.3%	3.5%
Energy	3.8%	3.5%

Return for Risk

QLVD vs. LGLV — 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

LGLV

LGLV Risk / Return Rank: 17
LGLV Sharpe Ratio Rank: 18
LGLV Sortino Ratio Rank: 16
LGLV Omega Ratio Rank: 15
LGLV Calmar Ratio Rank: 19
LGLV Martin Ratio Rank: 17

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. LGLV - 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 SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV). 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	LGLV	Difference
Sharpe ratio: Return per unit of total volatility	0.87	0.58	+0.29
Sortino ratio: Return per unit of downside risk	1.28	0.89	+0.39
Omega ratio: Gain probability vs. loss probability	1.16	1.10	+0.06
Calmar ratio: Return relative to maximum drawdown	1.12	0.80	+0.32
Martin ratio: Return relative to average drawdown	3.08	1.91	+1.17

QLVD vs. LGLV - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 0.87, which is higher than the LGLV Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of QLVD and LGLV, 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. LGLV - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, smaller than the maximum LGLV drawdown of -36.64%. Use the drawdown chart below to compare losses from any high point for QLVD and LGLV.

Drawdown Indicators

	QLVD	LGLV	Difference
Max Drawdown Largest peak-to-trough decline	-28.20%	-36.64%	+8.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-6.86%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-10.17%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-23.99%	-17.49%	-6.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.64%	—
Current Drawdown Current decline from peak	-5.80%	-5.60%	-0.20%
Average Drawdown Average peak-to-trough decline	-5.24%	-3.22%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.88%	+0.09%

Volatility

QLVD vs. LGLV - Volatility Comparison

The current volatility for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) is 2.92%, while SPDR SSGA US Large Cap Low Volatility Index ETF (LGLV) has a volatility of 3.40%. This indicates that QLVD experiences smaller price fluctuations and is considered to be less risky than LGLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVD	LGLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.40%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	6.95%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	9.55%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	12.93%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.96%	16.09%	-2.13%

QLVD vs. LGLV - Expense Ratio Comparison

QLVD has a 0.32% expense ratio, which is higher than LGLV's 0.12% expense ratio.

Dividends

QLVD vs. LGLV - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 3.11%, more than LGLV's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGLV SPDR SSGA US Large Cap Low Volatility Index ETF	2.58%	1.94%	1.93%	2.03%	1.95%	1.65%	1.98%	1.89%	2.09%	4.39%	2.54%	2.97%
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%	0.00%

Frequently Asked Questions

Can I hold both QLVD and LGLV in my portfolio?

QLVD and LGLV have a correlation of 0.61, 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 LGLV?

LGLV has higher volatility (3.40%) compared to QLVD (2.92%). In terms of maximum drawdown, QLVD dropped -28.20% vs LGLV's -36.64%.

Which ETF is better, QLVD or LGLV?

On 5-year performance, LGLV leads with 8.17% vs 6.04% for QLVD. On fees, LGLV is cheaper at 0.12% 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 LGLV?

Over the 5-year period, LGLV has performed better with a 8.17% 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 LGLV?

LGLV is cheaper with a 0.12% expense ratio, compared with 0.32% for QLVD.

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

QLVD has the higher dividend yield at 3.11%, compared with 2.58% for LGLV.

What is the main difference between QLVD and LGLV?

QLVD tracks Northern Trust Developed Markets ex US Quality Low Volatility Index, while LGLV tracks SSGA US Large Cap Low Volatility (TR). They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.32% for QLVD and 0.12% for LGLV.

Which has better risk-adjusted returns?

QLVD currently has the higher Sharpe Ratio (0.87 vs 0.58), 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.