TLTE vs. TDEC

Last updated Aug 4, 2026

TLTE (FlexShares Morningstar Emerging Markets Factor Tilt Index) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - TLTE is a Emerging Markets Equities fund tracking the Morningstar Emerging Markets Factor Tilt Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, TLTE returned 30.47% vs 18.55% for TDEC. Their correlation of 0.92 means they have usually moved in the same direction. TLTE charges 0.59%/yr vs 0.95%/yr for TDEC.

Performance

TLTE vs. TDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) and FT Vest Emerging Markets Buffer ETF - December (TDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTE achieves a 15.71% return, which is significantly higher than TDEC's 8.63% return.

TLTE

• 1D: 0.91%
• 1M: -1.41%
• 6M: 6.23%
• YTD: 15.71%
• 1Y: 30.47%
• 3Y*: 17.77%
• 5Y*: 7.25%
• 10Y*: 7.90%
• ALL TIME*: 5.51%

TDEC

• 1D: 0.34%
• 1M: 1.07%
• 6M: 4.11%
• YTD: 8.63%
• 1Y: 18.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TDEC FT Vest Emerging Markets Buffer ETF - December	$55.26K	$76.69K	$194.15K
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index	$291.32K	$272.95K	$346.48K

TLTE vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index	15.71%	30.21%	-1.03%
TDEC FT Vest Emerging Markets Buffer ETF - December	8.63%	21.39%	-0.75%

Correlation

The correlation between TLTE and TDEC is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.92

The correlation between TLTE and TDEC has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

TLTE vs. TDEC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TLTE

TLTE Risk / Return Rank: 56
TLTE Sharpe Ratio Rank: 53
TLTE Sortino Ratio Rank: 51
TLTE Omega Ratio Rank: 57
TLTE Calmar Ratio Rank: 64
TLTE Martin Ratio Rank: 58

TDEC

TDEC Risk / Return Rank: 68
TDEC Sharpe Ratio Rank: 67
TDEC Sortino Ratio Rank: 65
TDEC Omega Ratio Rank: 80
TDEC Calmar Ratio Rank: 60
TDEC Martin Ratio Rank: 69

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.

TLTE vs. TDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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.

	TLTE	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.69	-0.32
Sortino ratio: Return per unit of downside risk	1.89	2.34	-0.45
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.35	2.28	+0.06
Martin ratio: Return relative to average drawdown	7.13	9.26	-2.13

TLTE vs. TDEC - Sharpe Ratio Comparison

The current TLTE Sharpe Ratio is 1.36, which is comparable to the TDEC Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of TLTE and TDEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TLTE vs. TDEC - Drawdown Comparison

The maximum TLTE drawdown since its inception was -44.21%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for TLTE and TDEC.

Drawdown Indicators

	TLTE	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-44.21%	-10.30%	-33.91%
Max Drawdown (1Y) Largest decline over 1 year	-13.04%	-8.16%	-4.88%
Max Drawdown (3Y) Largest decline over 3 years	-17.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.21%	—	—
Current Drawdown Current decline from peak	-8.55%	-1.25%	-7.30%
Average Drawdown Average peak-to-trough decline	-12.08%	-1.12%	-10.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	2.01%	+2.28%

Volatility

TLTE vs. TDEC - Volatility Comparison

FlexShares Morningstar Emerging Markets Factor Tilt Index (TLTE) has a higher volatility of 8.36% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 3.53%. This indicates that TLTE's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLTE	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.36%	3.53%	+4.83%
Volatility (6M) Calculated over the trailing 6-month period	20.72%	10.26%	+10.46%
Volatility (1Y) Calculated over the trailing 1-year period	22.54%	11.07%	+11.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.76%	11.97%	+5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.73%	11.97%	+6.76%

TLTE vs. TDEC - Expense Ratio Comparison

TLTE has a 0.59% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

TLTE vs. TDEC - Dividend Comparison

TLTE's dividend yield for the trailing twelve months is around 3.38%, while TDEC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TDEC FT Vest Emerging Markets Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index	3.38%	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 TDEC in my portfolio?

With a correlation of 0.91, TLTE and TDEC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TLTE or TDEC?

TLTE has higher volatility (8.36%) compared to TDEC (3.53%). In terms of maximum drawdown, TLTE dropped -44.21% vs TDEC's -10.30%.

Which ETF is better, TLTE or TDEC?

On 1-year performance, TLTE leads with 30.47% vs 18.55% for TDEC. On fees, TLTE is cheaper at 0.59% per year. On volatility, TDEC has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TLTE or TDEC?

Over the 1-year period, TLTE has performed better with a 30.47% return vs 18.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTE or TDEC?

TLTE is cheaper with a 0.59% expense ratio, compared with 0.95% for TDEC.

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

TLTE has the higher dividend yield at 3.38%, compared with 0.00% for TDEC.

What is the main difference between TLTE and TDEC?

TLTE is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. TLTE tracks Morningstar Emerging Markets Factor Tilt Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: Northern Trust and FT Vest. Their fees differ too: 0.59% for TLTE and 0.95% for TDEC.

Which has better risk-adjusted returns?

TDEC currently has the higher Sharpe Ratio (1.69 vs 1.36), 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.