QLVD vs. QLC

Last updated Apr 1, 2026

Compare and contrast key facts about FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) and FlexShares US Quality Large Cap Index Fund (QLC).

QLVD and QLC 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. QLC is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Quality Large Cap Index. It was launched on Sep 24, 2015. Both QLVD and QLC 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. QLC - 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 FlexShares US Quality Large Cap Index Fund (QLC). The values are adjusted to include any dividend payments, if applicable.

QLVD vs. QLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
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%
QLC FlexShares US Quality Large Cap Index Fund	-3.32%	23.26%	26.71%	26.02%	-17.21%	28.46%	13.64%	7.54%

Returns By Period

In the year-to-date period, QLVD achieves a 3.29% return, which is significantly higher than QLC's -3.32% return.

QLVD

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

QLC

• 1D: 2.88%
• 1M: -4.70%
• YTD: -3.32%
• 6M: 0.78%
• 1Y: 23.78%
• 3Y*: 21.17%
• 5Y*: 13.53%
• 10Y*: 13.29%

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

QLVD vs. QLC - Expense Ratio Comparison

Both QLVD and QLC have an expense ratio of 0.32%.

QLVD

FlexShares Developed Markets ex-US Quality Low Volatility Index Fund

QLC

FlexShares US Quality Large Cap Index Fund

Return for Risk

QLVD vs. QLC — Risk / Return Rank

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

QLVD

QLVD Risk / Return Rank: 77
QLVD Sharpe Ratio Rank: 77
QLVD Sortino Ratio Rank: 79
QLVD Omega Ratio Rank: 75
QLVD Calmar Ratio Rank: 79
QLVD Martin Ratio Rank: 77

QLC

QLC Risk / Return Rank: 78
QLC Sharpe Ratio Rank: 74
QLC Sortino Ratio Rank: 76
QLC Omega Ratio Rank: 78
QLC Calmar Ratio Rank: 78
QLC Martin Ratio Rank: 85

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. QLC - 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 FlexShares US Quality Large Cap Index Fund (QLC). 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.

	QLVD	QLC	Difference
Sharpe ratio Return per unit of total volatility	1.41	1.30	+0.10
Sortino ratio Return per unit of downside risk	2.00	1.91	+0.09
Omega ratio Gain probability vs. loss probability	1.28	1.29	-0.01
Calmar ratio Return relative to maximum drawdown	2.11	2.06	+0.05
Martin ratio Return relative to average drawdown	8.00	9.71	-1.71
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. QLC - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 1.41, which is comparable to the QLC Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of QLVD and QLC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QLVD	QLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.30	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.81	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.72	-0.23

Correlation

The correlation between QLVD and QLC 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. QLC - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 2.77%, more than QLC's 1.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QLC FlexShares US Quality Large Cap Index Fund	1.01%	0.94%	1.03%	1.26%	1.46%	0.96%	1.40%	1.91%	1.82%	1.29%	1.80%	0.64%

Drawdowns

QLVD vs. QLC - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, smaller than the maximum QLC drawdown of -35.86%. Use the drawdown chart below to compare losses from any high point for QLVD and QLC.

Drawdown Indicators

	QLVD	QLC	Difference
Max Drawdown Largest peak-to-trough decline	-28.20%	-35.86%	+7.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-11.92%	+3.77%
Max Drawdown (5Y) Largest decline over 5 years	-23.99%	-23.81%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.86%	—
Current Drawdown Current decline from peak	-5.62%	-6.22%	+0.60%
Average Drawdown Average peak-to-trough decline	-5.27%	-4.60%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.52%	-0.38%

Volatility

QLVD vs. QLC - Volatility Comparison

FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) and FlexShares US Quality Large Cap Index Fund (QLC) have volatilities of 5.23% and 5.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVD	QLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	5.11%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	9.90%	-2.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.43%	18.33%	-5.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.68%	16.81%	-5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.02%	18.39%	-4.37%