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XSLV vs. QLVD
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XSLV vs. QLVD

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P SmallCap Low Volatility ETF (XSLV) and FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD).

XSLV and QLVD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSLV is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Low Volatility Index. It was launched on Feb 15, 2013. QLVD is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Developed Markets ex US Quality Low Volatility Index. It was launched on Jul 15, 2019. Both XSLV and QLVD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XSLV vs. QLVD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Low Volatility ETF (XSLV) and FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD). The values are adjusted to include any dividend payments, if applicable.

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XSLV vs. QLVD - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSLV
Invesco S&P SmallCap Low Volatility ETF		2.92%0.31%9.81%1.34%-11.83%29.34%-17.40%7.21%
QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund		4.17%24.21%4.67%11.57%-12.09%9.04%3.00%6.35%

Returns By Period

In the year-to-date period, XSLV achieves a 2.92% return, which is significantly lower than QLVD's 4.17% return.

XSLV

1D
0.45%
1M
-3.94%
YTD
2.92%
6M
3.66%
1Y
5.06%
3Y*
6.31%
5Y*
2.78%
10Y*
5.51%

QLVD

1D
0.84%
1M
-3.42%
YTD
4.17%
6M
7.23%
1Y
18.25%
3Y*
12.60%
5Y*
7.35%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P SmallCap Low Volatility ETF

FlexShares Developed Markets ex-US Quality Low Volatility Index Fund

Often compared with XSLV:
XSLV vs. SMLVXSLV vs. SPYXSLV vs. VOOXSLV vs. VBRXSLV vs. FSPGXXSLV vs. USMVXSLV vs. FTBFX
Often compared with QLVD:
QLVD vs. JEPIQLVD vs. DEEFQLVD vs. EFAVQLVD vs. SCHYQLVD vs. LVHIQLVD vs. IDLVQLVD vs. LGLV

XSLV vs. QLVD - Expense Ratio Comparison

XSLV has a 0.25% expense ratio, which is lower than QLVD's 0.32% expense ratio.

QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund
XSLV
Invesco S&P SmallCap Low Volatility ETF

Return for Risk

XSLV vs. QLVD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSLV
XSLV Risk / Return Rank: 2121
Overall Rank
XSLV Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
XSLV Sortino Ratio Rank: 2020
Sortino Ratio Rank
XSLV Omega Ratio Rank: 1919
Omega Ratio Rank
XSLV Calmar Ratio Rank: 2222
Calmar Ratio Rank
XSLV Martin Ratio Rank: 2323
Martin Ratio Rank
QLVD
QLVD Risk / Return Rank: 7676
Overall Rank
QLVD Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
QLVD Sortino Ratio Rank: 7878
Sortino Ratio Rank
QLVD Omega Ratio Rank: 7575
Omega Ratio Rank
QLVD Calmar Ratio Rank: 7777
Calmar Ratio Rank
QLVD Martin Ratio Rank: 7575
Martin Ratio Rank
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.

XSLV vs. QLVD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Low Volatility ETF (XSLV) and FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD). 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.

XSLVQLVDDifference

Sharpe ratio

Return per unit of total volatility

0.32

1.47

-1.15

Sortino ratio

Return per unit of downside risk

0.58

2.09

-1.50

Omega ratio

Gain probability vs. loss probability

1.07

1.29

-0.22

Calmar ratio

Return relative to maximum drawdown

0.49

2.26

-1.77

Martin ratio

Return relative to average drawdown

1.70

8.49

-6.79

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

XSLV vs. QLVD - Sharpe Ratio Comparison

The current XSLV Sharpe Ratio is 0.32, which is lower than the QLVD Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of XSLV and QLVD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XSLVQLVDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.32

1.47

-1.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.17

0.63

-0.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.51

-0.11

Correlation

The correlation between XSLV and QLVD is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XSLV vs. QLVD - Dividend Comparison

XSLV's dividend yield for the trailing twelve months is around 2.69%, less than QLVD's 2.74% yield.

TTM20252024202320222021202020192018201720162015
XSLV
Invesco S&P SmallCap Low Volatility ETF		2.69%2.14%2.55%2.35%2.78%1.05%2.49%2.43%2.75%1.87%1.96%2.20%
QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund		2.74%2.87%3.01%3.33%2.47%3.06%1.78%1.06%0.00%0.00%0.00%0.00%

Drawdowns

XSLV vs. QLVD - Drawdown Comparison

The maximum XSLV drawdown since its inception was -44.34%, which is greater than QLVD's maximum drawdown of -28.20%. Use the drawdown chart below to compare losses from any high point for XSLV and QLVD.

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Drawdown Indicators

XSLVQLVDDifference

Max Drawdown

Largest peak-to-trough decline

-44.34%

-28.20%

-16.14%

Max Drawdown (1Y)

Largest decline over 1 year

-11.26%

-8.15%

-3.11%

Max Drawdown (5Y)

Largest decline over 5 years

-24.72%

-23.99%

-0.73%

Max Drawdown (10Y)

Largest decline over 10 years

-44.34%

—

—

Current Drawdown

Current decline from peak

-4.82%

-4.82%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.37%

-5.27%

-2.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.26%

2.17%

+1.09%

Volatility

XSLV vs. QLVD - Volatility Comparison

The current volatility for Invesco S&P SmallCap Low Volatility ETF (XSLV) is 3.58%, while FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD) has a volatility of 4.98%. This indicates that XSLV experiences smaller price fluctuations and is considered to be less risky than QLVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSLVQLVDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.58%

4.98%

-1.40%

Volatility (6M)

Calculated over the trailing 6-month period

8.87%

7.74%

+1.13%

Volatility (1Y)

Calculated over the trailing 1-year period

15.86%

12.45%

+3.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.67%

11.68%

+4.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.93%

14.02%

+5.91%