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TLTD vs. BDVL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLTD vs. BDVL

Last updated Aug 4, 2026
Documentation

TLTD (FlexShares Morningstar Developed Markets ex-US Factor Tilt) and BDVL (iShares Disciplined Volatility Equity Active ETF) are both Global Equities funds - TLTD tracks the Morningstar Developed Markets ex-US Factor Tilt Index while BDVL tracks the MSCI ACWI Minimum Volatility Index. Both are passively managed. Their 0.80 correlation means they have sometimes moved together and sometimes differently. TLTD charges 0.39%/yr vs 0.40%/yr for BDVL.

Performance

TLTD vs. BDVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) and iShares Disciplined Volatility Equity Active ETF (BDVL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TLTD achieves a 11.20% return, which is significantly higher than BDVL's 7.22% return.

TLTD

1D
0.36%
1M
2.49%
6M
5.50%
YTD
11.20%
1Y
27.13%
3Y*
19.91%
5Y*
10.43%
10Y*
9.84%
ALL TIME*
8.38%

BDVL

1D
0.49%
1M
1.15%
6M
4.87%
YTD
7.22%
1Y
—
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BDVL

iShares Disciplined Volatility Equity Active ETF
$5.36M$5.75M$7.18M

TLTD

FlexShares Morningstar Developed Markets ex-US Factor Tilt
$470.57K$675.01K$784.22K

TLTD vs. BDVL - Yearly Performance Comparison

2026 (YTD)2025
TLTD
FlexShares Morningstar Developed Markets ex-US Factor Tilt		11.20%6.65%
BDVL
iShares Disciplined Volatility Equity Active ETF		7.22%2.20%

Correlation

The correlation between TLTD and BDVL is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (All Time)
Calculated using the full available price history since Sep 15, 2025

0.80

TLTD vs. BDVL - Sectors Allocation Comparison

Sectors
TLTD
BDVL

Financial Services

25.3%
13.5%

Industrials

17.2%
15.9%

Consumer Cyclical

10.2%
9.2%

Basic Materials

9.7%
3.0%

Technology

6.7%
26.2%

Healthcare

6.1%
10.5%

Energy

5.7%
2.2%

Consumer Defensive

5.0%
5.3%

Real Estate

3.6%
1.1%

Communication Services

3.5%
8.8%

Utilities

3.1%
4.5%

Financial Services

TLTD
25.3%
BDVL
13.5%

Industrials

TLTD
17.2%
BDVL
15.9%

Consumer Cyclical

TLTD
10.2%
BDVL
9.2%

Basic Materials

TLTD
9.7%
BDVL
3.0%

Technology

TLTD
6.7%
BDVL
26.2%

Healthcare

TLTD
6.1%
BDVL
10.5%

Energy

TLTD
5.7%
BDVL
2.2%

Consumer Defensive

TLTD
5.0%
BDVL
5.3%

Real Estate

TLTD
3.6%
BDVL
1.1%

Communication Services

TLTD
3.5%
BDVL
8.8%

Utilities

TLTD
3.1%
BDVL
4.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

FlexShares Morningstar Developed Markets ex-US Factor Tilt

iShares Disciplined Volatility Equity Active ETF

Often compared with TLTD:
TLTD vs. TLTETLTD vs. SPYTLTD vs. MPTLTD vs. LVHITLTD vs. SVOLTLTD vs. AVDVTLTD vs. VOO
Often compared with BDVL:
BDVL vs. CGGEBDVL vs. UFOBDVL vs. VTBDVL vs. CAPEBDVL vs. DFAWBDVL vs. IVESBDVL vs. PAWZ

Return for Risk

TLTD vs. BDVL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
TLTD
TLTD Risk / Return Rank: 7171
Overall Rank
TLTD Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
TLTD Sortino Ratio Rank: 7676
Sortino Ratio Rank
TLTD Omega Ratio Rank: 7676
Omega Ratio Rank
TLTD Calmar Ratio Rank: 6161
Calmar Ratio Rank
TLTD Martin Ratio Rank: 6666
Martin Ratio Rank
BDVL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TLTD vs. BDVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) and iShares Disciplined Volatility Equity Active ETF (BDVL). 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.

TLTDBDVLDifference
Sharpe ratioReturn per unit of total volatility
1.83

—

—

Sortino ratioReturn per unit of downside risk
2.57

—

—

Omega ratioGain probability vs. loss probability

1.33

—

—

Calmar ratioReturn relative to maximum drawdown

2.25

—

—

Martin ratioReturn relative to average drawdown

8.35

—

—

TLTD vs. BDVL - Sharpe Ratio Comparison

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Drawdowns

TLTD vs. BDVL - Drawdown Comparison

The maximum TLTD drawdown since its inception was -40.62%, which is greater than BDVL's maximum drawdown of -7.71%. Use the drawdown chart below to compare losses from any high point for TLTD and BDVL.

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Drawdown Indicators

TLTDBDVLDifference

Max Drawdown

Largest peak-to-trough decline

-40.62%

-7.71%

-32.91%

Max Drawdown (1Y)

Largest decline over 1 year

-12.11%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-13.10%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-28.96%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-40.62%

—

—

Current Drawdown

Current decline from peak

-0.23%

0.00%

-0.23%

Average Drawdown

Average peak-to-trough decline

-7.62%

-1.12%

-6.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.26%

—

—

Volatility

TLTD vs. BDVL - Volatility Comparison

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Volatility by Period

TLTDBDVLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.05%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

12.64%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

14.91%

9.43%

+5.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.01%

9.43%

+6.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.54%

9.43%

+7.11%

TLTD vs. BDVL - Expense Ratio Comparison

TLTD has a 0.39% expense ratio, which is lower than BDVL's 0.40% expense ratio.

Dividends

TLTD vs. BDVL - Dividend Comparison

TLTD's dividend yield for the trailing twelve months is around 3.29%, less than BDVL's 3.47% yield.

PositionTTM20252024202320222021202020192018201720162015
BDVL
iShares Disciplined Volatility Equity Active ETF		3.47%2.79%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
TLTD
FlexShares Morningstar Developed Markets ex-US Factor Tilt		3.29%3.44%3.88%3.39%2.76%3.44%2.04%3.46%3.16%2.71%2.93%2.56%

Frequently Asked Questions

TLTD and BDVL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, TLTD is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

TLTD is cheaper with a 0.39% expense ratio, compared with 0.40% for BDVL.

BDVL has the higher dividend yield at 3.47%, compared with 3.29% for TLTD.

TLTD tracks Morningstar Developed Markets ex-US Factor Tilt Index, while BDVL tracks MSCI ACWI Minimum Volatility Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.39% for TLTD and 0.40% for BDVL.

Portfolio Optimizer

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