TLTD vs. VT

Last updated Jun 4, 2026

TLTD (FlexShares Morningstar Developed Markets ex-US Factor Tilt) and VT (Vanguard Total World Stock ETF) are both Global Equities funds - TLTD tracks the Morningstar Developed Markets ex-US Factor Tilt Index while VT tracks the FTSE Global All Cap Index. Both are passively managed. Over the past 10 years, TLTD returned 9.50%/yr vs 12.74%/yr for VT. Their correlation of 0.88 suggests significant overlap in exposure. TLTD charges 0.39%/yr vs 0.06%/yr for VT.

Performance

TLTD vs. VT - 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 Vanguard Total World Stock ETF (VT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTD achieves a 8.45% return, which is significantly lower than VT's 12.24% return. Over the past 10 years, TLTD has underperformed VT with an annualized return of 9.50%, while VT has yielded a comparatively higher 12.74% annualized 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%

VT

• 1D: -0.88%
• 1M: 4.91%
• YTD: 12.24%
• 6M: 13.14%
• 1Y: 29.24%
• 3Y*: 20.93%
• 5Y*: 10.99%
• 10Y*: 12.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TLTD vs. VT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt	8.45%	39.69%	4.78%	17.19%	-13.74%	12.84%	4.21%	21.26%	-17.57%	26.27%
VT Vanguard Total World Stock ETF	12.24%	22.43%	16.49%	22.02%	-18.00%	18.27%	16.59%	26.81%	-9.76%	24.50%

Correlation

The correlation between TLTD and VT is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 3, 2012	0.88

The correlation between TLTD and VT has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

TLTD vs. VT - Sectors Allocation Comparison

Sectors	TLTD	VT
Financial Services	32.7%	15.9%
Industrials	13.5%	12.0%
Technology	10.3%	27.8%
Energy	7.7%	4.3%
Basic Materials	7.4%	4.2%
Consumer Cyclical	5.6%	9.5%
Healthcare	4.2%	8.1%
Consumer Defensive	3.5%	4.8%
Utilities	3.3%	2.7%
Communication Services	2.0%	8.3%
Real Estate	0.9%	2.4%

Return for Risk

TLTD vs. VT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TLTD

TLTD Risk / Return Rank: 51
TLTD Sharpe Ratio Rank: 54
TLTD Sortino Ratio Rank: 53
TLTD Omega Ratio Rank: 53
TLTD Calmar Ratio Rank: 45
TLTD Martin Ratio Rank: 50

VT

VT Risk / Return Rank: 67
VT Sharpe Ratio Rank: 68
VT Sortino Ratio Rank: 68
VT Omega Ratio Rank: 67
VT Calmar Ratio Rank: 60
VT Martin Ratio Rank: 71

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. VT - 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 Vanguard Total World Stock ETF (VT). 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.

	TLTD	VT	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.31	-0.46
Sortino ratio: Return per unit of downside risk	2.60	3.20	-0.60
Omega ratio: Gain probability vs. loss probability	1.33	1.42	-0.08
Calmar ratio: Return relative to maximum drawdown	2.21	3.04	-0.82
Martin ratio: Return relative to average drawdown	8.49	13.53	-5.04
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. VT - Sharpe Ratio Comparison

The current TLTD Sharpe Ratio is 1.86, which is comparable to the VT Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of TLTD and VT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TLTD	VT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	2.31	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.69	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.74	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.44	+0.08

Drawdowns

TLTD vs. VT - Drawdown Comparison

The maximum TLTD drawdown since its inception was -40.62%, smaller than the maximum VT drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for TLTD and VT.

Drawdown Indicators

	TLTD	VT	Difference
Max Drawdown Largest peak-to-trough decline	-40.62%	-50.27%	+9.65%
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	-9.67%	-2.44%
Max Drawdown (3Y) Largest decline over 3 years	-13.10%	-16.51%	+3.41%
Max Drawdown (5Y) Largest decline over 5 years	-28.96%	-26.38%	-2.58%
Max Drawdown (10Y) Largest decline over 10 years	-40.62%	-34.24%	-6.38%
Current Drawdown Current decline from peak	-2.35%	-0.88%	-1.47%
Average Drawdown Average peak-to-trough decline	-7.68%	-7.02%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	2.17%	+0.98%

Volatility

TLTD vs. VT - Volatility Comparison

FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) has a higher volatility of 4.34% compared to Vanguard Total World Stock ETF (VT) at 3.83%. This indicates that TLTD's price experiences larger fluctuations and is considered to be riskier than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTD	VT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	3.83%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	10.17%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	12.70%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	16.05%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.81%	17.23%	-0.42%

TLTD vs. VT - Expense Ratio Comparison

TLTD has a 0.39% expense ratio, which is higher than VT's 0.06% expense ratio.

Dividends

TLTD vs. VT - Dividend Comparison

TLTD's dividend yield for the trailing twelve months is around 3.08%, more than VT's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VT Vanguard Total World Stock ETF	1.59%	1.82%	1.95%	2.08%	2.20%	1.82%	1.66%	2.32%	2.53%	2.11%	2.39%	2.45%

Frequently Asked Questions

Can I hold both TLTD and VT in my portfolio?

TLTD and VT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLTD or VT?

TLTD has higher volatility (4.34%) compared to VT (3.83%). In terms of maximum drawdown, TLTD dropped -40.62% vs VT's -50.27%.

Which ETF is better, TLTD or VT?

On 10-year performance, VT leads with 12.74% vs 9.50% for TLTD. On fees, VT is cheaper at 0.06% per year. On volatility, VT has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TLTD or VT?

Over the 10-year period, VT has performed better with a 12.74% return vs 9.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTD or VT?

VT is cheaper with a 0.06% expense ratio, compared with 0.39% for TLTD.

Which ETF pays a higher dividend yield, TLTD or VT?

TLTD has the higher dividend yield at 3.08%, compared with 1.59% for VT.

What is the main difference between TLTD and VT?

TLTD tracks Morningstar Developed Markets ex-US Factor Tilt Index, while VT tracks FTSE Global All Cap Index. They also come from different issuers: Northern Trust and Vanguard. Their fees differ too: 0.39% for TLTD and 0.06% for VT.

Which has better risk-adjusted returns?

VT currently has the higher Sharpe Ratio (2.31 vs 1.86), 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.