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.
Fund Basics
| Fund sponsor | Northern Trust |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 15, 2019 |
| Assets (mns) | $47 |
| 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
| NESTLE SA-REG | 3.7 % |
| ROCHE HOLDING LTD | 3.4 % |
| UNILEVER PLC | 2.4 % |
| SANOFI-AVENTIS | 2.4 % |
| AIR LIQUIDE SA | 1.8 % |
| NOVARTIS AG | 1.7 % |
| CANADIAN NATL RAILWAY CO | 1.6 % |
| SUMITOMO MITSUI FINANCIAL GR | 1.6 % |
| NOVO NORDISK A/S-B | 1.6 % |
| SHELL PLC | 1.3 % |
Constituent Breakdown
| Number of holdings | 178 |
| Herfindahl-Hirschman Index | 103 |
| Wgt avg mkt cap (mns) | $76,222 |
| Large cap (>$10bn) | 81.7% |
| Mid cap ($2-10bn) | 18.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 23.2 % |
 |
SWITZERLAND | 12.2 % |
 |
CANADA | 10.2 % |
 |
BRITAIN | 9.9 % |
 |
FRANCE | 7.4 % |
 |
HONG KONG | 5.8 % |
 |
SINGAPORE | 4.5 % |
 |
NETHERLANDS | 3.9 % |
 |
GERMANY | 3.8 % |
 |
ISRAEL | 3.8 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 2.9% | 8.9% | 3.4% | 3.1% | -- | -- | 4.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.62 | 70% |
| MSCI EAFE | 0.73 | 91% |
| MSCI Emg Mkts | 0.58 | 61% |
Liquidity Measures
| Avg. volume (000) | 28 |
| Turnover | 1.6% |
| Avg. Bid/Ask (% of price) | 0.29% |
| ADV of underlying (mns) | $12,032 |
Technical Indicators
| Recent close | $26.12 |
| 30d moving avg. | $25.05 |
| Annualized volatility | 13.0% |
| Relative strength (RSI) | 62 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
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 |
|---|---|---|---|---|
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | 51.3% | -10 bp | -0.5% |
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | 38.6% | -2 bp | +0.2% |
| DWMF | WisdomTree International Multifactor Fund | 33.1% | +6 bp | +0.6% |
| HDMV | First Trust Horizon Managed Volatility Developed Intl ETF | 32.0% | +48 bp | -1.3% |
| FDEV | Fidelity International Multifactor ETF | 30.8% | -14 bp | +0.8% |
| DOL | WisdomTree International LargeCap Dividend Fund | 30.1% | +16 bp | +1.1% |
| IQDE | FlexShares International Quality Dividend Defensive Index ET | 30.0% | +15 bp | +4.0% |
| IQLT | iShares MSCI Intl Quality Factor ETF | 29.3% | -2 bp | -1.0% |
| RODM | Hartford Multifactor Developed Markets (ex-US) ETF | 27.5% | -3 bp | +2.1% |
| IDLV | Invesco S&P International Developed Low Volatility ETF | 27.3% | -7 bp | -0.9% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 4/25/2024
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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
QLVD
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™
QLVD
6.7%
Cat. Avg
7.2%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.7% |
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 257 funds in the International Equities category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.5%. QLVD's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places QLVD in the 42nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
QLVD
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) |
|
|---|---|---|---|
| QLVD | 32.0 | 28.7 | 60.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .