QLVE vs. EQLT

Last updated Aug 2, 2026

QLVE (FlexShares Emerging Markets Quality Low Volatility Index Fund) and EQLT (iShares MSCI Emerging Markets Quality Factor ETF) are both Quality Factor funds - QLVE tracks the Northern Trust Emerging Markets Quality Low Volatility Index while EQLT tracks the MSCI Emerging Markets Quality Factor Select Index. Both are passively managed. Over the past year, QLVE returned 23.59% vs 44.38% for EQLT. Their correlation of 0.89 means they have usually moved in the same direction. QLVE charges 0.40%/yr vs 0.35%/yr for EQLT.

Performance

QLVE vs. EQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QLVE achieves a 12.92% return, which is significantly lower than EQLT's 22.86% return.

QLVE

• 1D: -0.06%
• 1M: 0.53%
• 6M: 7.16%
• YTD: 12.92%
• 1Y: 23.59%
• 3Y*: 15.27%
• 5Y*: 7.60%
• 10Y*: —
• ALL TIME*: 6.66%

EQLT

• 1D: 0.51%
• 1M: -1.35%
• 6M: 14.71%
• YTD: 22.86%
• 1Y: 44.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 29.13%

*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)
EQLT iShares MSCI Emerging Markets Quality Factor ETF	$77.09K	$55.23K	$122.39K
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	$2.76K	$7.65K	$20.86K

QLVE vs. EQLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	12.92%	21.87%	-1.22%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	22.86%	33.93%	-1.29%

Correlation

The correlation between QLVE and EQLT is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.89

The correlation between QLVE and EQLT has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

QLVE vs. EQLT - Sectors Allocation Comparison

Sectors	QLVE	EQLT
Technology	35.7%	34.8%
Financial Services	14.3%	19.5%
Communication Services	10.0%	5.2%
Energy	6.3%	3.5%
Consumer Defensive	6.3%	3.5%
Consumer Cyclical	4.9%	8.2%
Healthcare	4.8%	3.3%
Industrials	3.3%	11.4%
Utilities	2.7%	1.8%
Basic Materials	1.9%	6.5%
Real Estate	0.7%	0.9%

Return for Risk

QLVE vs. EQLT — Risk / Return Rank

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

QLVE

QLVE Risk / Return Rank: 52
QLVE Sharpe Ratio Rank: 48
QLVE Sortino Ratio Rank: 47
QLVE Omega Ratio Rank: 53
QLVE Calmar Ratio Rank: 55
QLVE Martin Ratio Rank: 55

EQLT

EQLT Risk / Return Rank: 81
EQLT Sharpe Ratio Rank: 80
EQLT Sortino Ratio Rank: 76
EQLT Omega Ratio Rank: 79
EQLT Calmar Ratio Rank: 88
EQLT Martin Ratio Rank: 81

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.

QLVE vs. EQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) and iShares MSCI Emerging Markets Quality Factor ETF (EQLT). 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.

	QLVE	EQLT	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.85	-0.67
Sortino ratio: Return per unit of downside risk	1.73	2.44	-0.71
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	1.98	3.61	-1.63
Martin ratio: Return relative to average drawdown	6.52	10.91	-4.40

QLVE vs. EQLT - Sharpe Ratio Comparison

The current QLVE Sharpe Ratio is 1.18, which is lower than the EQLT Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of QLVE and EQLT, 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

QLVE vs. EQLT - Drawdown Comparison

The maximum QLVE drawdown since its inception was -29.96%, which is greater than EQLT's maximum drawdown of -17.38%. Use the drawdown chart below to compare losses from any high point for QLVE and EQLT.

Drawdown Indicators

	QLVE	EQLT	Difference
Max Drawdown Largest peak-to-trough decline	-29.96%	-17.38%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-12.00%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.60%	—	—
Current Drawdown Current decline from peak	-5.59%	-8.36%	+2.77%
Average Drawdown Average peak-to-trough decline	-8.21%	-3.81%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	3.96%	-0.45%

Volatility

QLVE vs. EQLT - Volatility Comparison

FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) has a higher volatility of 6.73% compared to iShares MSCI Emerging Markets Quality Factor ETF (EQLT) at 5.98%. This indicates that QLVE's price experiences larger fluctuations and is considered to be riskier than EQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVE	EQLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	5.98%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	17.12%	21.15%	-4.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	23.39%	-3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.20%	21.25%	-7.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	21.25%	-5.11%

QLVE vs. EQLT - Expense Ratio Comparison

QLVE has a 0.40% expense ratio, which is higher than EQLT's 0.35% expense ratio.

Dividends

QLVE vs. EQLT - Dividend Comparison

QLVE's dividend yield for the trailing twelve months is around 2.68%, less than EQLT's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.85%	3.10%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	2.68%	3.14%	3.11%	3.00%	2.48%	2.57%	1.66%	1.27%

Frequently Asked Questions

Can I hold both QLVE and EQLT in my portfolio?

QLVE and EQLT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLVE or EQLT?

QLVE has higher volatility (6.73%) compared to EQLT (5.98%). In terms of maximum drawdown, QLVE dropped -29.96% vs EQLT's -17.38%.

Which ETF is better, QLVE or EQLT?

On 1-year performance, EQLT leads with 44.38% vs 23.59% for QLVE. On fees, EQLT is cheaper at 0.35% per year. On volatility, EQLT has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLVE or EQLT?

Over the 1-year period, EQLT has performed better with a 44.38% return vs 23.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLVE or EQLT?

EQLT is cheaper with a 0.35% expense ratio, compared with 0.40% for QLVE.

Which ETF pays a higher dividend yield, QLVE or EQLT?

EQLT has the higher dividend yield at 2.85%, compared with 2.68% for QLVE.

What is the main difference between QLVE and EQLT?

QLVE tracks Northern Trust Emerging Markets Quality Low Volatility Index, while EQLT tracks MSCI Emerging Markets Quality Factor Select Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.40% for QLVE and 0.35% for EQLT.

Which has better risk-adjusted returns?

EQLT currently has the higher Sharpe Ratio (1.85 vs 1.18), 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.