QLVD
FlexShares Developed Markets ex-US Quality Low Volatility Index Fund
The FlexShares Developed Markets ex-US Quality Low Volatility Index ETF tracks a multi-factor selected index of large- and mid-cap equities from developed markets excluding the United States.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
58.6 M
ASSETS UNDER MGMT
32 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 15, 2019 |
| Assets (mns) | $59 |
| Expense ratio | 32 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NOVARTIS AG | 3.6 % |
| UNILEVER PLC | 2.6 % |
| ROYAL BANK OF CANADA | 2.4 % |
| SANOFI-AVENTIS | 2.0 % |
| NESTLE SA-REG | 1.7 % |
| AIR LIQUIDE SA | 1.6 % |
| CAN IMPERIAL BK OF COMMERCE | 1.6 % |
| MUENCHENER RUECKVER AG-REG | 1.5 % |
| IBERDROLA SA | 1.5 % |
| MITSUBISHI CORP | 1.4 % |
Constituent Breakdown
| Number of holdings | 184 |
| Herfindahl-Hirschman Index | 113 |
| Wgt avg mkt cap (mns) | $74,158 |
| Large cap (>$10bn) | 94.9% |
| Mid cap ($2-10bn) | 9.7% |
| Small cap (<$2bn) | 0.3% |
| Developed mkts. | 105.1% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 19.9 % |
 |
CANADA | 15.6 % |
 |
SWITZERLAND | 11.8 % |
 |
FRANCE | 8.3 % |
 |
HONG KONG | 6.3 % |
 |
BRITAIN | 6.1 % |
 |
GERMANY | 4.8 % |
 |
NETHERLANDS | 4.7 % |
 |
SINGAPORE | 4.7 % |
 |
ISRAEL | 2.8 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 20.6% | 20.6% | 10.7% | 9.7% | 3.7% | -- | -- | 3.8% |
| Dividend Yield | 3.6% | 3.6% | 3.3% | 3.5% | 3.1% | -- | -- | 2.9% |
| Total Returns | 24.2% | 24.2% | 14.0% | 13.2% | 6.8% | -- | -- | 6.7% | Ann. Volatility | 11.6% | 11.6% | 10.7% | 10.5% | 11.6% | -- | -- | 14.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.34 | 32% |
| MSCI EAFE | 0.60 | 71% |
| MSCI Emg Mkts | 0.40 | 37% |
Liquidity Measures
| Avg. volume (000) | 2 |
| ADV traded (mns) | $0 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.64% |
Technical Indicators
| 30d moving avg. (EMA) | $31.45 |
| Relative strength (RSI) | 59 |
| MACD/Signal | 0.25/0.22 |
| Bollinger Bands (Upper/Lower) | $32.18/$30.91 |
| Short interest (% of AUM) | 0.4% |
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. QLVD |
Expenses vs. QLVD |
ALTAR Score™ vs. QLVD |
|---|---|---|---|---|
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | 34.0% | -2 bp | +6.2% |
| RODM | Hartford Multifactor Developed Markets (ex-US) ETF | 29.7% | -3 bp | +7.0% |
| IDLV | Invesco S&P International Developed Low Volatility ETF | 29.1% | -7 bp | +6.3% |
| DWMF | WisdomTree International Multifactor Fund | 28.1% | +6 bp | +6.5% |
| HDMV | First Trust Horizon Managed Volatility Developed Intl ETF | 27.6% | +48 bp | +5.6% |
| CIL | VictoryShares International Volatility Wtd ETF | 26.4% | +13 bp | +5.9% |
| DIVI | Franklin International Core Dividend Tilt Index ETF | 26.0% | -23 bp | +7.1% |
| LCTD | BlackRock World ex U.S. Carbon Transition Readiness ETF | 25.8% | -12 bp | +5.7% |
| HDEF | Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 25.4% | -23 bp | +8.3% |
| GSIE | Goldman Sachs ActiveBeta International Equity ETF | 24.7% | -7 bp | +6.4% |
Risk and Returns: QLVD 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 1/1/2026
Peer Group Comparison Sample data. Subscribe for access.
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
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 Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
QLVD
5.5%
Cat. Avg
6.3%
ALTAR Score™ Calculation
Category Overview
There are 272 funds in the International Equity category, with an average ALTAR Score™
of 6.3% and a standard deviation of
1.7%. QLVD's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places QLVD in the 32nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
QLVDSELL
U/W
HOLD
O/W
BUY