TLTE vs. FID

Last updated Jun 5, 2026

TLTE (FlexShares Morningstar Emerging Markets Factor Tilt Index) and FID (First Trust S&P International Dividend Aristocrats ETF) are both Foreign Large Cap Equities funds - TLTE tracks the Morningstar Emerging Markets Factor Tilt Index while FID tracks the S&P International Dividend Aristocrats Index. Both are passively managed. Over the past 5 years, TLTE returned 7.43%/yr vs 7.84%/yr for FID. A 0.65 correlation means they provide meaningful diversification when combined. TLTE charges 0.59%/yr vs 0.60%/yr for FID.

Performance

TLTE vs. FID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) and First Trust S&P International Dividend Aristocrats ETF (FID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTE achieves a 23.54% return, which is significantly higher than FID's 9.08% return.

TLTE

• 1D: -0.69%
• 1M: 3.64%
• YTD: 23.54%
• 6M: 25.97%
• 1Y: 45.35%
• 3Y*: 22.09%
• 5Y*: 7.43%
• 10Y*: 9.47%

FID

• 1D: 0.47%
• 1M: 2.45%
• YTD: 9.08%
• 6M: 11.36%
• 1Y: 22.92%
• 3Y*: 17.77%
• 5Y*: 7.84%
• 10Y*: —

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

TLTE vs. FID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index	23.54%	30.21%	3.53%	13.62%	-17.31%	4.79%	12.10%	14.51%	-9.79%
FID First Trust S&P International Dividend Aristocrats ETF	9.08%	32.07%	5.42%	9.92%	-9.69%	12.90%	-7.56%	20.82%	-8.00%

Correlation

The correlation between TLTE and FID is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 30, 2018	0.65

The correlation between TLTE and FID has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

TLTE vs. FID - Sectors Allocation Comparison

Sectors	TLTE	FID
Technology	27.3%	4.1%
Financial Services	18.9%	20.8%
Industrials	11.7%	13.5%
Consumer Cyclical	10.5%	4.0%
Basic Materials	7.7%	4.3%
Communication Services	4.6%	11.5%
Energy	4.4%	8.0%
Real Estate	4.3%	9.4%
Consumer Defensive	4.2%	3.7%
Utilities	3.1%	17.4%
Healthcare	3.1%	3.5%

Return for Risk

TLTE vs. FID — Risk / Return Rank

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

TLTE

TLTE Risk / Return Rank: 75
TLTE Sharpe Ratio Rank: 78
TLTE Sortino Ratio Rank: 73
TLTE Omega Ratio Rank: 77
TLTE Calmar Ratio Rank: 71
TLTE Martin Ratio Rank: 74

FID

FID Risk / Return Rank: 63
FID Sharpe Ratio Rank: 71
FID Sortino Ratio Rank: 72
FID Omega Ratio Rank: 69
FID Calmar Ratio Rank: 53
FID Martin Ratio Rank: 53

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.

TLTE vs. FID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) and First Trust S&P International Dividend Aristocrats ETF (FID). 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.

	TLTE	FID	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.27	+0.21
Sortino ratio: Return per unit of downside risk	3.27	3.22	+0.05
Omega ratio: Gain probability vs. loss probability	1.45	1.40	+0.05
Calmar ratio: Return relative to maximum drawdown	3.50	2.58	+0.92
Martin ratio: Return relative to average drawdown	13.71	9.00	+4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLTE vs. FID - Sharpe Ratio Comparison

The current TLTE Sharpe Ratio is 2.48, which is comparable to the FID Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of TLTE and FID, 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

	TLTE	FID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.27	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.46	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.40	-0.05

Drawdowns

TLTE vs. FID - Drawdown Comparison

The maximum TLTE drawdown since its inception was -44.21%, which is greater than FID's maximum drawdown of -39.79%. Use the drawdown chart below to compare losses from any high point for TLTE and FID.

Drawdown Indicators

	TLTE	FID	Difference
Max Drawdown Largest peak-to-trough decline	-44.21%	-39.79%	-4.42%
Max Drawdown (1Y) Largest decline over 1 year	-13.04%	-8.93%	-4.11%
Max Drawdown (3Y) Largest decline over 3 years	-17.43%	-10.97%	-6.46%
Max Drawdown (5Y) Largest decline over 5 years	-33.51%	-29.13%	-4.38%
Max Drawdown (10Y) Largest decline over 10 years	-44.21%	—	—
Current Drawdown Current decline from peak	-1.98%	-0.64%	-1.34%
Average Drawdown Average peak-to-trough decline	-12.15%	-8.47%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.55%	+0.77%

Volatility

TLTE vs. FID - Volatility Comparison

FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) has a higher volatility of 7.87% compared to First Trust S&P International Dividend Aristocrats ETF (FID) at 2.98%. This indicates that TLTE's price experiences larger fluctuations and is considered to be riskier than FID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTE	FID	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.87%	2.98%	+4.89%
Volatility (6M) Calculated over the trailing 6-month period	16.12%	8.13%	+7.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.43%	10.16%	+8.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	17.04%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.40%	18.95%	-0.55%

TLTE vs. FID - Expense Ratio Comparison

TLTE has a 0.59% expense ratio, which is lower than FID's 0.60% expense ratio.

Dividends

TLTE vs. FID - Dividend Comparison

TLTE's dividend yield for the trailing twelve months is around 3.04%, less than FID's 4.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FID First Trust S&P International Dividend Aristocrats ETF	4.00%	4.30%	4.31%	4.19%	4.22%	3.76%	3.91%	3.70%	1.74%	0.00%	0.00%	0.00%
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index	3.04%	3.76%	3.73%	4.03%	4.42%	3.21%	1.95%	3.23%	3.02%	2.12%	2.30%	2.00%

Frequently Asked Questions

Can I hold both TLTE and FID in my portfolio?

TLTE and FID have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLTE or FID?

TLTE has higher volatility (7.87%) compared to FID (2.98%). In terms of maximum drawdown, TLTE dropped -44.21% vs FID's -39.79%.

Which ETF is better, TLTE or FID?

On 5-year performance, FID leads with 7.84% vs 7.43% for TLTE. On fees, TLTE is cheaper at 0.59% per year. On volatility, FID has been the lower-risk option at 2.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TLTE or FID?

Over the 5-year period, FID has performed better with a 7.84% return vs 7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTE or FID?

TLTE is cheaper with a 0.59% expense ratio, compared with 0.60% for FID.

Which ETF pays a higher dividend yield, TLTE or FID?

FID has the higher dividend yield at 4.00%, compared with 3.04% for TLTE.

What is the main difference between TLTE and FID?

TLTE tracks Morningstar Emerging Markets Factor Tilt Index, while FID tracks S&P International Dividend Aristocrats Index. They also come from different issuers: Northern Trust and First Trust. Their fees differ too: 0.59% for TLTE and 0.60% for FID.

Which has better risk-adjusted returns?

TLTE currently has the higher Sharpe Ratio (2.48 vs 2.27), 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.