QLVE vs. GQI

Last updated Aug 2, 2026

QLVE (FlexShares Emerging Markets Quality Low Volatility Index Fund) and GQI (Natixis Gateway Quality Income ETF) are both Quality Factor funds. QLVE is passively managed, while GQI is actively managed. Over the past year, QLVE returned 23.59% vs 22.33% for GQI. Their 0.59 correlation means they have sometimes moved together and sometimes differently. QLVE charges 0.40%/yr vs 0.34%/yr for GQI.

Performance

QLVE vs. GQI - 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 Natixis Gateway Quality Income ETF (GQI). 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 higher than GQI's 9.82% 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%

GQI

• 1D: 0.91%
• 1M: 1.51%
• 6M: 7.93%
• YTD: 9.82%
• 1Y: 22.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.45%

*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)
GQI Natixis Gateway Quality Income ETF	$866.96K	$1.04M	$2.05M
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	$2.76K	$7.65K	$20.86K

QLVE vs. GQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	12.92%	21.87%	10.17%	3.57%
GQI Natixis Gateway Quality Income ETF	9.82%	15.36%	15.99%	1.60%

Correlation

The correlation between QLVE and GQI is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023	0.59

The correlation between QLVE and GQI has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.

QLVE vs. GQI - Sectors Allocation Comparison

Sectors	QLVE	GQI
Technology	35.7%	37.9%
Financial Services	14.3%	9.9%
Communication Services	10.0%	10.3%
Energy	6.3%	3.9%
Consumer Defensive	6.3%	6.1%
Consumer Cyclical	4.9%	11.0%
Healthcare	4.8%	10.9%
Industrials	3.3%	8.3%
Utilities	2.7%	0.6%
Basic Materials	1.9%	0.7%
Real Estate	0.7%	0.4%

Return for Risk

QLVE vs. GQI — 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

GQI

GQI Risk / Return Rank: 86
GQI Sharpe Ratio Rank: 87
GQI Sortino Ratio Rank: 87
GQI Omega Ratio Rank: 86
GQI Calmar Ratio Rank: 81
GQI Martin Ratio Rank: 91

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. GQI - 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 Natixis Gateway Quality Income ETF (GQI). 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	GQI	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.07	-0.90
Sortino ratio: Return per unit of downside risk	1.73	2.92	-1.19
Omega ratio: Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	1.98	2.98	-1.00
Martin ratio: Return relative to average drawdown	6.52	15.46	-8.95

QLVE vs. GQI - Sharpe Ratio Comparison

The current QLVE Sharpe Ratio is 1.18, which is lower than the GQI Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of QLVE and GQI, 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. GQI - Drawdown Comparison

The maximum QLVE drawdown since its inception was -29.96%, which is greater than GQI's maximum drawdown of -16.56%. Use the drawdown chart below to compare losses from any high point for QLVE and GQI.

Drawdown Indicators

	QLVE	GQI	Difference
Max Drawdown Largest peak-to-trough decline	-29.96%	-16.56%	-13.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-6.96%	-4.64%
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%	-0.12%	-5.47%
Average Drawdown Average peak-to-trough decline	-8.21%	-1.62%	-6.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	1.34%	+2.17%

Volatility

QLVE vs. GQI - Volatility Comparison

FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) has a higher volatility of 6.73% compared to Natixis Gateway Quality Income ETF (GQI) at 2.49%. This indicates that QLVE's price experiences larger fluctuations and is considered to be riskier than GQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVE	GQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	2.49%	+4.24%
Volatility (6M) Calculated over the trailing 6-month period	17.12%	7.65%	+9.47%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	9.99%	+9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.20%	13.01%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	13.01%	+3.13%

QLVE vs. GQI - Expense Ratio Comparison

QLVE has a 0.40% expense ratio, which is higher than GQI's 0.34% expense ratio.

Dividends

QLVE vs. GQI - Dividend Comparison

QLVE's dividend yield for the trailing twelve months is around 2.68%, less than GQI's 8.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GQI Natixis Gateway Quality Income ETF	7.83%	8.97%	7.77%	0.31%	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 GQI in my portfolio?

QLVE and GQI have a correlation of 0.66, 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 GQI?

QLVE has higher volatility (6.73%) compared to GQI (2.49%). In terms of maximum drawdown, QLVE dropped -29.96% vs GQI's -16.56%.

Which ETF is better, QLVE or GQI?

On 1-year performance, QLVE leads with 23.59% vs 22.33% for GQI. On fees, GQI is cheaper at 0.34% per year. On volatility, GQI has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLVE or GQI?

Over the 1-year period, QLVE has performed better with a 23.59% return vs 22.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLVE or GQI?

GQI is cheaper with a 0.34% expense ratio, compared with 0.40% for QLVE.

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

GQI has the higher dividend yield at 7.83%, compared with 2.68% for QLVE.

What is the main difference between QLVE and GQI?

They also come from different issuers: Northern Trust and Natixis. Their fees differ too: 0.40% for QLVE and 0.34% for GQI.

Which has better risk-adjusted returns?

GQI currently has the higher Sharpe Ratio (2.07 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.