QLC
FlexShares US Quality Large Cap Index Fund
The FlexShares US Quality Large Cap Index Fund ETF tracks an index of the highest quality large-caps, as defined by Northern Trust's proprietary scoring model.
Fund Basics
| Fund sponsor | Northern Trust |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 23, 2015 |
| Assets (mns) | $150 |
| Expense ratio | 25 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 8.2 % |
| MICROSOFT CORP | 5.0 % |
| ALPHABET INC. CLASS A | 3.2 % |
| ALPHABET INC. CLASS C | 3.0 % |
| BERKSHIRE HATHAWAY INC-CL B | 2.5 % |
| NVIDIA CORP | 2.2 % |
| JOHNSON & JOHNSON | 2.1 % |
| AMAZON.COM INC | 2.0 % |
| ELI LILLY & CO | 1.8 % |
| JPMORGAN CHASE & CO | 1.7 % |
Constituent Breakdown
| Number of holdings | 184 |
| Herfindahl-Hirschman Index | 184 |
| Wgt avg mkt cap (mns) | $713,181 |
| Large cap (>$10bn) | 98.3% |
| Mid cap ($2-10bn) | 0.2% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.3% |
Country Exposure
 |
UNITED STATES | 96.8 % |
 |
IRELAND | 0.9 % |
 |
ISRAEL | 0.5 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 18.2% | 15.9% | 1.3% | 10.7% | 8.6% | -- | 11.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 99% |
| MSCI EAFE | 0.86 | 77% |
| MSCI Emg Mkts | 0.61 | 37% |
Liquidity Measures
| Avg. volume (000) | 11 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.10% |
| ADV of underlying (mns) | $109,776 |
Technical Indicators
| Recent close | $48.88 |
| 30d moving avg. | $49.43 |
| Annualized volatility | 17.9% |
| Relative strength (RSI) | 46 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 1.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. QLC |
Expenses vs. QLC |
ALTAR Score™ vs. QLC |
|---|---|---|---|---|
| GSLC | Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 55.4% | -16 bp | -0.1% |
| GSPY | Gotham Enhanced 500 ETF | 55.1% | +25 bp | -0.5% |
| IWL | iShares Russell Top 200 ETF | 54.9% | -10 bp | -1.1% |
| MGC | Vanguard Mega Cap Index Fund | 54.7% | -18 bp | -1.0% |
| OEF | iShares S&P 100 ETF | 54.3% | -5 bp | -1.1% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 54.1% | -25 bp | -1.0% |
| SPXE | ProShares S&P 500 Ex-Energy ETF | 54.0% | -16 bp | -0.8% |
| SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 54.0% | -5 bp | -0.9% |
| SPY | SPDR S&P 500 ETF Trust | 53.6% | -16 bp | -0.8% |
| IVV | iShares Core S&P 500 ETF | 53.6% | -22 bp | -0.7% |
Risk and Returns: QLC vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/20/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
QLC
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
QLC
6.5%
Cat. Avg
6.3%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.5% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 899 funds in the US Equities category, with an average ALTAR Score™
of 6.3% and a standard deviation of
3.1%. QLC's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places QLC in the 52nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
QLC
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QLC | 25.0 | 10.3 | 35.3 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .