QLVE vs. QARP

Last updated Aug 2, 2026

QLVE (FlexShares Emerging Markets Quality Low Volatility Index Fund) and QARP (Xtrackers Russell 1000 US Quality at a Reasonable Price ETF) are both Quality Factor funds - QLVE tracks the Northern Trust Emerging Markets Quality Low Volatility Index while QARP tracks the Russell 1000 2Qual/Val 5% Capped Factor Index. Both are passively managed. Over the past 5 years, QLVE returned 7.60%/yr vs 11.83%/yr for QARP. Their 0.63 correlation means they have sometimes moved together and sometimes differently. QLVE charges 0.40%/yr vs 0.19%/yr for QARP.

Performance

QLVE vs. QARP - 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 Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with QLVE having a 12.92% return and QARP slightly higher at 13.09%.

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%

QARP

• 1D: 0.52%
• 1M: 1.69%
• 6M: 8.81%
• YTD: 13.09%
• 1Y: 25.79%
• 3Y*: 16.68%
• 5Y*: 11.83%
• 10Y*: —
• ALL TIME*: 14.16%

*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)
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	$110.48K	$118.49K	$177.11K
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	$2.76K	$7.65K	$20.86K

QLVE vs. QARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fund	12.92%	21.87%	10.17%	8.53%	-13.10%	0.90%	4.16%	4.77%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	13.09%	13.99%	18.94%	23.03%	-14.62%	31.82%	14.83%	9.26%

Correlation

The correlation between QLVE and QARP is 0.57, 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.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.56
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019	0.63

The correlation between QLVE and QARP has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

QLVE vs. QARP - Sectors Allocation Comparison

Sectors	QLVE	QARP
Technology	35.7%	24.1%
Financial Services	14.3%	12.4%
Communication Services	10.0%	10.5%
Energy	6.3%	6.3%
Consumer Defensive	6.3%	9.5%
Consumer Cyclical	4.9%	9.4%
Healthcare	4.8%	14.0%
Industrials	3.3%	7.9%
Utilities	2.7%	1.9%
Basic Materials	1.9%	2.5%
Real Estate	0.7%	1.0%

Return for Risk

QLVE vs. QARP — 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

QARP

QARP Risk / Return Rank: 90
QARP Sharpe Ratio Rank: 91
QARP Sortino Ratio Rank: 91
QARP Omega Ratio Rank: 89
QARP Calmar Ratio Rank: 86
QARP 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. QARP - 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 Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). 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	QARP	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.29	-1.11
Sortino ratio: Return per unit of downside risk	1.73	3.22	-1.49
Omega ratio: Gain probability vs. loss probability	1.24	1.41	-0.17
Calmar ratio: Return relative to maximum drawdown	1.98	3.37	-1.40
Martin ratio: Return relative to average drawdown	6.52	15.08	-8.57

QLVE vs. QARP - Sharpe Ratio Comparison

The current QLVE Sharpe Ratio is 1.18, which is lower than the QARP Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of QLVE and QARP, 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. QARP - Drawdown Comparison

The maximum QLVE drawdown since its inception was -29.96%, smaller than the maximum QARP drawdown of -35.44%. Use the drawdown chart below to compare losses from any high point for QLVE and QARP.

Drawdown Indicators

	QLVE	QARP	Difference
Max Drawdown Largest peak-to-trough decline	-29.96%	-35.44%	+5.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.60%	-7.26%	-4.34%
Max Drawdown (3Y) Largest decline over 3 years	-13.29%	-15.65%	+2.36%
Max Drawdown (5Y) Largest decline over 5 years	-23.60%	-22.75%	-0.85%
Current Drawdown Current decline from peak	-5.59%	-0.14%	-5.45%
Average Drawdown Average peak-to-trough decline	-8.21%	-4.37%	-3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	1.62%	+1.89%

Volatility

QLVE vs. QARP - Volatility Comparison

FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) has a higher volatility of 6.73% compared to Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP) at 2.59%. This indicates that QLVE's price experiences larger fluctuations and is considered to be riskier than QARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QLVE	QARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	2.59%	+4.14%
Volatility (6M) Calculated over the trailing 6-month period	17.12%	8.16%	+8.96%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	10.71%	+8.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.20%	15.52%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	19.51%	-3.37%

QLVE vs. QARP - Expense Ratio Comparison

QLVE has a 0.40% expense ratio, which is higher than QARP's 0.19% expense ratio.

Dividends

QLVE vs. QARP - Dividend Comparison

QLVE's dividend yield for the trailing twelve months is around 2.68%, more than QARP's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	1.02%	1.14%	1.39%	1.28%	1.68%	1.34%	1.61%	1.85%	1.39%
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%	0.00%

Frequently Asked Questions

Can I hold both QLVE and QARP in my portfolio?

QLVE and QARP have a correlation of 0.57, 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 QARP?

QLVE has higher volatility (6.73%) compared to QARP (2.59%). In terms of maximum drawdown, QLVE dropped -29.96% vs QARP's -35.44%.

Which ETF is better, QLVE or QARP?

On 5-year performance, QARP leads with 11.83% vs 7.60% for QLVE. On fees, QARP is cheaper at 0.19% per year. On volatility, QARP has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QLVE or QARP?

Over the 5-year period, QARP has performed better with a 11.83% return vs 7.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QLVE or QARP?

QARP is cheaper with a 0.19% expense ratio, compared with 0.40% for QLVE.

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

QLVE has the higher dividend yield at 2.68%, compared with 1.02% for QARP.

What is the main difference between QLVE and QARP?

QLVE tracks Northern Trust Emerging Markets Quality Low Volatility Index, while QARP tracks Russell 1000 2Qual/Val 5% Capped Factor Index. They also come from different issuers: Northern Trust and Deutsche Bank. Their fees differ too: 0.40% for QLVE and 0.19% for QARP.

Which has better risk-adjusted returns?

QARP currently has the higher Sharpe Ratio (2.29 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.