QLVD vs. SCHY

Last updated Jun 23, 2026

QLVD (FlexShares Developed Markets ex-US Quality Low Volatility Index Fund) and SCHY (Schwab International Dividend Equity 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 SCHY is a Dividend fund tracking the Dow Jones International Dividend 100 Index. Both are passively managed. Over the past 5 years, QLVD returned 6.04%/yr vs 8.21%/yr for SCHY. Their correlation of 0.88 suggests significant overlap in exposure. QLVD charges 0.32%/yr vs 0.08%/yr for SCHY.

Performance

QLVD vs. SCHY - 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 Schwab International Dividend Equity ETF (SCHY). 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 SCHY's 7.54% return.

QLVD

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

SCHY

• 1D: -0.28%
• 1M: -1.70%
• YTD: 7.54%
• 6M: 8.01%
• 1Y: 22.42%
• 3Y*: 14.92%
• 5Y*: 8.21%
• 10Y*: —

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

QLVD vs. SCHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Index Fund	3.09%	24.21%	4.67%	11.57%	-12.09%	5.15%
SCHY Schwab International Dividend Equity ETF	7.54%	33.98%	-1.79%	14.27%	-9.43%	3.42%

Correlation

The correlation between QLVD and SCHY is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 29, 2021	0.88

The correlation between QLVD and SCHY has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

QLVD vs. SCHY - Sectors Allocation Comparison

Sectors	QLVD	SCHY
Financial Services	24.8%	15.9%
Industrials	15.2%	13.0%
Consumer Defensive	11.0%	14.4%
Healthcare	10.6%	7.4%
Utilities	7.6%	6.8%
Communication Services	6.6%	15.0%
Consumer Cyclical	5.6%	7.8%
Technology	5.3%	3.6%
Real Estate	5.3%	0.8%
Basic Materials	4.3%	5.8%
Energy	3.8%	9.6%

Return for Risk

QLVD vs. SCHY — 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

SCHY

SCHY Risk / Return Rank: 53
SCHY Sharpe Ratio Rank: 58
SCHY Sortino Ratio Rank: 55
SCHY Omega Ratio Rank: 55
SCHY Calmar Ratio Rank: 51
SCHY 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. SCHY - 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 Schwab International Dividend Equity ETF (SCHY). 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	SCHY	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.87	-1.00
Sortino ratio: Return per unit of downside risk	1.28	2.56	-1.28
Omega ratio: Gain probability vs. loss probability	1.16	1.33	-0.17
Calmar ratio: Return relative to maximum drawdown	1.12	2.47	-1.35
Martin ratio: Return relative to average drawdown	3.08	7.52	-4.44

QLVD vs. SCHY - Sharpe Ratio Comparison

The current QLVD Sharpe Ratio is 0.87, which is lower than the SCHY Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of QLVD and SCHY, 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. SCHY - Drawdown Comparison

The maximum QLVD drawdown since its inception was -28.20%, which is greater than SCHY's maximum drawdown of -24.04%. Use the drawdown chart below to compare losses from any high point for QLVD and SCHY.

Drawdown Indicators

	QLVD	SCHY	Difference
Max Drawdown Largest peak-to-trough decline	-28.20%	-24.04%	-4.16%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-9.11%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-9.24%	-12.16%	+2.92%
Max Drawdown (5Y) Largest decline over 5 years	-23.99%	-24.04%	+0.05%
Current Drawdown Current decline from peak	-5.80%	-5.49%	-0.31%
Average Drawdown Average peak-to-trough decline	-5.24%	-4.96%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.99%	-0.02%

Volatility

QLVD vs. SCHY - Volatility Comparison

The current volatility for FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) is 2.92%, while Schwab International Dividend Equity ETF (SCHY) has a volatility of 3.27%. This indicates that QLVD experiences smaller price fluctuations and is considered to be less risky than SCHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVD	SCHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.27%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	10.08%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	12.10%	-1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	13.27%	-1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.96%	13.23%	+0.73%

QLVD vs. SCHY - Expense Ratio Comparison

QLVD has a 0.32% expense ratio, which is higher than SCHY's 0.08% expense ratio.

Dividends

QLVD vs. SCHY - Dividend Comparison

QLVD's dividend yield for the trailing twelve months is around 3.11%, less than SCHY's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
SCHY Schwab International Dividend Equity ETF	3.45%	3.55%	4.64%	3.97%	3.67%	1.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QLVD and SCHY in my portfolio?

QLVD and SCHY have a correlation of 0.87, 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 SCHY?

SCHY has higher volatility (3.27%) compared to QLVD (2.92%). In terms of maximum drawdown, QLVD dropped -28.20% vs SCHY's -24.04%.

Which ETF is better, QLVD or SCHY?

On 5-year performance, SCHY leads with 8.21% vs 6.04% for QLVD. On fees, SCHY is cheaper at 0.08% 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 SCHY?

Over the 5-year period, SCHY has performed better with a 8.21% 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 SCHY?

SCHY is cheaper with a 0.08% expense ratio, compared with 0.32% for QLVD.

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

SCHY has the higher dividend yield at 3.45%, compared with 3.11% for QLVD.

What is the main difference between QLVD and SCHY?

QLVD is categorized as Volatility Hedged Equity, while SCHY is Dividend. QLVD tracks Northern Trust Developed Markets ex US Quality Low Volatility Index, while SCHY tracks Dow Jones International Dividend 100 Index. They also come from different issuers: Northern Trust and Charles Schwab. Their fees differ too: 0.32% for QLVD and 0.08% for SCHY.

Which has better risk-adjusted returns?

SCHY currently has the higher Sharpe Ratio (1.87 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.