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TLTD vs. BDVL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLTD vs. BDVL

Last updated Jun 4, 2026

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. A 0.80 correlation means they provide meaningful diversification when combined. 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 8.45% return, which is significantly higher than BDVL's 4.71% return.

TLTD

1D
-0.79%
1M
2.60%
YTD
8.45%
6M
11.89%
1Y
26.70%
3Y*
19.83%
5Y*
9.51%
10Y*
9.50%

BDVL

1D
-0.44%
1M
0.91%
YTD
4.71%
6M
5.43%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TLTD vs. BDVL - Yearly Performance Comparison

2026 (YTD)2025
TLTD
FlexShares Morningstar Developed Markets ex-US Factor Tilt		8.45%5.99%
BDVL
iShares Disciplined Volatility Equity Active ETF		4.71%1.97%

Correlation

The correlation between TLTD and BDVL is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Sep 16, 2025

0.80

TLTD vs. BDVL - Sectors Allocation Comparison

Sectors
TLTD
BDVL

Financial Services

32.7%
13.9%

Industrials

13.5%
15.4%

Technology

10.3%
23.0%

Energy

7.7%
2.8%

Basic Materials

7.4%
2.6%

Consumer Cyclical

5.6%
8.5%

Healthcare

4.2%
11.1%

Consumer Defensive

3.5%
6.3%

Utilities

3.3%
4.8%

Communication Services

2.0%
10.7%

Real Estate

0.9%
1.0%

Financial Services

TLTD
32.7%
BDVL
13.9%

Industrials

TLTD
13.5%
BDVL
15.4%

Technology

TLTD
10.3%
BDVL
23.0%

Energy

TLTD
7.7%
BDVL
2.8%

Basic Materials

TLTD
7.4%
BDVL
2.6%

Consumer Cyclical

TLTD
5.6%
BDVL
8.5%

Healthcare

TLTD
4.2%
BDVL
11.1%

Consumer Defensive

TLTD
3.5%
BDVL
6.3%

Utilities

TLTD
3.3%
BDVL
4.8%

Communication Services

TLTD
2.0%
BDVL
10.7%

Real Estate

TLTD
0.9%
BDVL
1.0%

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. SVOLTLTD vs. LVHITLTD vs. AVDVTLTD vs. VOO
Often compared with BDVL:
BDVL vs. CGGEBDVL vs. VTBDVL vs. DFAWBDVL vs. UFOBDVL vs. IVESBDVL vs. AVGVBDVL vs. PAWZ

Return for Risk

TLTD vs. BDVL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TLTD
TLTD Risk / Return Rank: 5151
Overall Rank
TLTD Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
TLTD Sortino Ratio Rank: 5353
Sortino Ratio Rank
TLTD Omega Ratio Rank: 5353
Omega Ratio Rank
TLTD Calmar Ratio Rank: 4545
Calmar Ratio Rank
TLTD Martin Ratio Rank: 5050
Martin Ratio Rank
BDVL
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

TLTDBDVLDifference
Sharpe ratioReturn per unit of total volatility
1.86

—

—

Sortino ratioReturn per unit of downside risk
2.60

—

—

Omega ratioGain probability vs. loss probability

1.33

—

—

Calmar ratioReturn relative to maximum drawdown

2.21

—

—

Martin ratioReturn relative to average drawdown

8.49

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLTD vs. BDVL - Sharpe Ratio Comparison

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Sharpe Ratios by Period

TLTDBDVLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.86

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

1.01

-0.50

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

-2.35%

-0.95%

-1.40%

Average Drawdown

Average peak-to-trough decline

-7.68%

-1.19%

-6.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

—

—

Volatility

TLTD vs. BDVL - Volatility Comparison

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Volatility by Period

TLTDBDVLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

11.99%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

14.46%

9.49%

+4.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.97%

9.49%

+6.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.81%

9.49%

+7.32%

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 3.08%, more than BDVL's 2.66% yield.

PositionTTM20252024202320222021202020192018201720162015
BDVL
iShares Disciplined Volatility Equity Active ETF		2.66%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		3.08%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.

TLTD has the higher dividend yield at 3.08%, compared with 2.66% for BDVL.

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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