RAVI vs. QDF
RAVI (FlexShares Ultra-Short Income ETF) and QDF (FlexShares Quality Dividend Index Fund) are both exchange-traded funds - RAVI is a Ultrashort Bond fund actively managed by FlexShares, while QDF is a Large Cap Value Equities fund tracking the Northern Trust Quality Dividend Index. RAVI is actively managed, while QDF is passively managed. Over the past 10 years, RAVI returned 2.67%/yr vs 12.35%/yr for QDF. At a 0.05 correlation, their price movements are largely independent. RAVI charges 0.25%/yr vs 0.37%/yr for QDF.
Performance
RAVI vs. QDF - Performance Comparison
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Returns By Period
In the year-to-date period, RAVI achieves a 1.69% return, which is significantly lower than QDF's 9.88% return. Over the past 10 years, RAVI has underperformed QDF with an annualized return of 2.67%, while QDF has yielded a comparatively higher 12.35% annualized return.
RAVI
- 1D
- 0.05%
- 1M
- 0.30%
- YTD
- 1.69%
- 6M
- 1.79%
- 1Y
- 4.37%
- 3Y*
- 5.17%
- 5Y*
- 3.54%
- 10Y*
- 2.67%
QDF
- 1D
- -1.18%
- 1M
- -0.24%
- YTD
- 9.88%
- 6M
- 8.92%
- 1Y
- 25.86%
- 3Y*
- 18.58%
- 5Y*
- 11.94%
- 10Y*
- 12.35%
RAVI vs. QDF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 1.69% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
QDF FlexShares Quality Dividend Index Fund | 9.88% | 16.58% | 16.95% | 19.71% | -12.13% | 26.65% | 4.86% | 25.71% | -7.97% | 17.42% |
Correlation
The correlation between RAVI and QDF is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.05 |
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Return for Risk
RAVI vs. QDF — Risk / Return Rank
RAVI
QDF
RAVI vs. QDF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) and FlexShares Quality Dividend Index Fund (QDF). 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.
| RAVI | QDF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.57 | ||
| Sortino ratioReturn per unit of downside risk | +20.46 | ||
| Omega ratioGain probability vs. loss probability | 5.23 | 1.39 | +3.84 |
| Calmar ratioReturn relative to maximum drawdown | 37.51 | 3.29 | +34.22 |
| Martin ratioReturn relative to average drawdown | 214.85 | 14.15 | +200.70 |
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Drawdowns
RAVI vs. QDF - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum QDF drawdown of -36.67%. Use the drawdown chart below to compare losses from any high point for RAVI and QDF.
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Drawdown Indicators
| RAVI | QDF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -36.67% | +32.95% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -7.90% | +7.78% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | -18.01% | +17.65% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | -22.06% | +18.78% |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | -36.67% | +32.95% |
Current DrawdownCurrent decline from peak | 0.00% | -1.50% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -3.63% | +3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.83% | -1.81% |
Volatility
RAVI vs. QDF - Volatility Comparison
The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.13%, while FlexShares Quality Dividend Index Fund (QDF) has a volatility of 4.23%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky than QDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAVI | QDF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 4.23% | -4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 9.40% | -9.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 12.04% | -11.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 15.66% | -14.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 17.40% | -16.12% |
RAVI vs. QDF - Expense Ratio Comparison
RAVI has a 0.25% expense ratio, which is lower than QDF's 0.37% expense ratio.
Dividends
RAVI vs. QDF - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.37%, more than QDF's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QDF FlexShares Quality Dividend Index Fund | 1.53% | 1.65% | 1.93% | 2.19% | 2.45% | 1.90% | 2.38% | 3.05% | 4.29% | 2.70% | 3.07% | 3.04% |
RAVI FlexShares Ultra-Short Income ETF | 4.37% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% | 0.00% |
Frequently Asked Questions
RAVI and QDF have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QDF has higher volatility (4.23%) compared to RAVI (0.13%). In terms of maximum drawdown, RAVI dropped -3.72% vs QDF's -36.67%.
On 10-year performance, QDF leads with 12.35% vs 2.67% for RAVI. On fees, RAVI is cheaper at 0.25% per year. On volatility, RAVI has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QDF has performed better with a 12.35% return vs 2.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RAVI is cheaper with a 0.25% expense ratio, compared with 0.37% for QDF.
RAVI has the higher dividend yield at 4.37%, compared with 1.53% for QDF.
RAVI is categorized as Ultrashort Bond, while QDF is Large Cap Value Equities. Their fees differ too: 0.25% for RAVI and 0.37% for QDF.
RAVI currently has the higher Sharpe Ratio (10.73 vs 2.16), 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.
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