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TLTD vs. BDVL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TLTD vs. BDVL

Last updated Jun 24, 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. Their correlation of 0.80 suggests significant overlap in exposure. 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 7.09% return, which is significantly higher than BDVL's 4.73% return.

TLTD

1D
-1.68%
1M
-1.28%
YTD
7.09%
6M
7.21%
1Y
25.06%
3Y*
19.69%
5Y*
9.65%
10Y*
10.09%

BDVL

1D
-0.97%
1M
-0.75%
YTD
4.73%
6M
4.36%
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		7.09%6.65%
BDVL
iShares Disciplined Volatility Equity Active ETF		4.73%2.20%

Correlation

The correlation between TLTD and BDVL is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

24.4%
14.3%

Industrials

19.0%
14.2%

Basic Materials

10.7%
1.9%

Consumer Cyclical

10.2%
6.9%

Technology

7.8%
27.8%

Energy

6.6%
1.6%

Healthcare

6.0%
8.3%

Consumer Defensive

5.4%
5.3%

Communication Services

3.5%
10.0%

Real Estate

3.3%
0.9%

Utilities

3.1%
4.5%

Financial Services

TLTD
24.4%
BDVL
14.3%

Industrials

TLTD
19.0%
BDVL
14.2%

Basic Materials

TLTD
10.7%
BDVL
1.9%

Consumer Cyclical

TLTD
10.2%
BDVL
6.9%

Technology

TLTD
7.8%
BDVL
27.8%

Energy

TLTD
6.6%
BDVL
1.6%

Healthcare

TLTD
6.0%
BDVL
8.3%

Consumer Defensive

TLTD
5.4%
BDVL
5.3%

Communication Services

TLTD
3.5%
BDVL
10.0%

Real Estate

TLTD
3.3%
BDVL
0.9%

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

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: 4949
Overall Rank
TLTD Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
TLTD Sortino Ratio Rank: 5252
Sortino Ratio Rank
TLTD Omega Ratio Rank: 5050
Omega Ratio Rank
TLTD Calmar Ratio Rank: 4444
Calmar Ratio Rank
TLTD Martin Ratio Rank: 4949
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) 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.

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
1.69

—

—

Sortino ratioReturn per unit of downside risk
2.38

—

—

Omega ratioGain probability vs. loss probability

1.30

—

—

Calmar ratioReturn relative to maximum drawdown

2.08

—

—

Martin ratioReturn relative to average drawdown

7.83

—

—

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

-3.58%

-1.41%

-2.17%

Average Drawdown

Average peak-to-trough decline

-7.66%

-1.18%

-6.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

—

—

Volatility

TLTD vs. BDVL - Volatility Comparison

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Volatility by Period

TLTDBDVLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.58%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

12.53%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

14.89%

9.71%

+5.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.03%

9.71%

+6.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.58%

9.71%

+6.87%

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 3.42%, less than BDVL's 3.56% yield.

PositionTTM20252024202320222021202020192018201720162015
BDVL
iShares Disciplined Volatility Equity Active ETF		3.56%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		3.42%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 3.56%, compared with 3.42% 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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