QLVD vs. ROE

Last updated Aug 2, 2026

QLVD (FlexShares Developed Markets ex-US Quality Low Volatility Index Fund) and ROE (Astoria US Equal Weight Quality Kings ETF) are both Quality Factor funds. QLVD is passively managed, while ROE is actively managed. Over the past 3 years, QLVD returned 13.56%/yr vs 20.30%/yr for ROE. Their 0.55 correlation means they have sometimes moved together and sometimes differently. QLVD charges 0.32%/yr vs 0.49%/yr for ROE.

Performance

QLVD vs. ROE - 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 Astoria US Equal Weight Quality Kings ETF (ROE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLVD achieves a 9.60% return, which is significantly lower than ROE's 20.35% return.

QLVD

• 1D: -0.82%
• 1M: 3.92%
• 6M: 7.11%
• YTD: 9.60%
• 1Y: 16.16%
• 3Y*: 13.56%
• 5Y*: 7.19%
• 10Y*: —
• ALL TIME*: 7.53%

ROE

• 1D: 0.50%
• 1M: 0.63%
• 6M: 16.21%
• YTD: 20.35%
• 1Y: 33.36%
• 3Y*: 20.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	$72.57K	$53.92K	$58.06K
ROE Astoria US Equal Weight Quality Kings ETF	$1.20M	$1.18M	$910.23K

QLVD vs. ROE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	9.60%	24.21%	4.67%	1.56%
ROE Astoria US Equal Weight Quality Kings ETF	20.35%	17.20%	18.34%	4.31%

Correlation

The correlation between QLVD and ROE is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (All Time) Calculated using the full available price history since Aug 1, 2023	0.55

The correlation between QLVD and ROE has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

QLVD vs. ROE - Sectors Allocation Comparison

Sectors	QLVD	ROE
Financial Services	23.5%	11.9%
Industrials	14.7%	9.0%
Consumer Defensive	11.3%	4.9%
Healthcare	9.5%	10.2%
Utilities	7.3%	2.0%
Technology	6.7%	33.9%
Energy	5.4%	2.9%
Communication Services	5.3%	11.1%
Real Estate	5.0%	2.0%
Consumer Cyclical	4.3%	11.0%
Basic Materials	3.9%	1.0%

Return for Risk

QLVD vs. ROE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QLVD

QLVD Risk / Return Rank: 65
QLVD Sharpe Ratio Rank: 72
QLVD Sortino Ratio Rank: 73
QLVD Omega Ratio Rank: 71
QLVD Calmar Ratio Rank: 60
QLVD Martin Ratio Rank: 48

ROE

ROE Risk / Return Rank: 88
ROE Sharpe Ratio Rank: 88
ROE Sortino Ratio Rank: 86
ROE Omega Ratio Rank: 85
ROE Calmar Ratio Rank: 89
ROE Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QLVD vs. ROE - 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 Astoria US Equal Weight Quality Kings ETF (ROE). 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	ROE	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.14	-0.51
Sortino ratio: Return per unit of downside risk	2.36	2.88	-0.52
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	2.12	3.72	-1.60
Martin ratio: Return relative to average drawdown	5.52	15.82	-10.30

QLVD vs. ROE - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 1.63, which is comparable to the ROE Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of QLVD and ROE, 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. ROE - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, which is greater than ROE's maximum drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for QLVD and ROE.

Drawdown Indicators

	QLVD	ROE	Difference
Max Drawdown Largest peak-to-trough decline	-28.20%	-19.10%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-8.66%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-9.18%	-19.10%	+9.92%
Max Drawdown (5Y) Largest decline over 5 years	-23.99%	—	—
Current Drawdown Current decline from peak	-0.82%	-1.30%	+0.48%
Average Drawdown Average peak-to-trough decline	-5.20%	-2.54%	-2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	2.03%	+1.09%

Volatility

QLVD vs. ROE - Volatility Comparison

The current volatility for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) is 2.93%, while Astoria US Equal Weight Quality Kings ETF (ROE) has a volatility of 3.59%. This indicates that QLVD experiences smaller price fluctuations and is considered to be less risky than ROE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVD	ROE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	3.59%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	11.81%	-3.04%
Volatility (1Y) Calculated over the trailing 1-year period	10.60%	15.07%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.77%	15.87%	-4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.90%	15.87%	-1.97%

QLVD vs. ROE - Expense Ratio Comparison

QLVD has a 0.32% expense ratio, which is lower than ROE's 0.49% expense ratio.

Dividends

QLVD vs. ROE - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 2.93%, more than ROE's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	2.93%	2.87%	3.01%	3.33%	2.47%	3.06%	1.78%	1.06%
ROE Astoria US Equal Weight Quality Kings ETF	1.01%	0.97%	1.18%	0.68%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QLVD and ROE in my portfolio?

QLVD and ROE have a correlation of 0.45, 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 ROE?

ROE has higher volatility (3.59%) compared to QLVD (2.93%). In terms of maximum drawdown, QLVD dropped -28.20% vs ROE's -19.10%.

Which ETF is better, QLVD or ROE?

On 3-year performance, ROE leads with 20.30% vs 13.56% for QLVD. On fees, QLVD is cheaper at 0.32% per year. On volatility, QLVD has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLVD or ROE?

Over the 3-year period, ROE has performed better with a 20.30% return vs 13.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLVD or ROE?

QLVD is cheaper with a 0.32% expense ratio, compared with 0.49% for ROE.

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

QLVD has the higher dividend yield at 2.93%, compared with 1.01% for ROE.

What is the main difference between QLVD and ROE?

They also come from different issuers: Northern Trust and Astoria. Their fees differ too: 0.32% for QLVD and 0.49% for ROE.

Which has better risk-adjusted returns?

ROE currently has the higher Sharpe Ratio (2.14 vs 1.63), 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.