ETF Evaluator:
FlexShares Dev Mks ex-US Qual Lw Vol ETF ()
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(as of Aug 26)
Best Performing in Foreign Large Blend Over the Last Year
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| 37.0% | Touchstone Dynamic International ETF (TDI) |
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| 34.8% | First Eagle Overseas Equity ETF (FEOE) |
| 33.8% | Lazard International Dynamic Equity ETF (IDEQ) |
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ETF Details
FlexShares Dev Mks ex-US Qual Lw Vol ETF Overview
FlexShares Dev Mks ex-US Qual Lw Vol ETF (QLVD) is a passively managed International Equity Foreign Large Blend exchange-traded fund (ETF). Flexshares Trust launched the ETF in 2019.
The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Northern Trust Developed Markets ex-US Quality Low Volatility IndexSM.
The underlying index is designed to construct a high-quality universe of companies, that in aggregate, possess lower overall absolute volatility characteristics relative to an eligible developed market universe, excluding the U.S. Under normal circumstances, the fund will invest at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index.
About FlexShares Dev Mks ex-US Qual Lw Vol ETF (QLVD)
There are 3 members of the management team with an average tenure of 5.51 years: Robert Anstine (2019), Brendan Sullivan (2019) and Volter Bagriy (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI World ex USA NR USD index with a weighting of 100% and Northern Trust DM ex-US Q Low Vol TR USD index with a weighting of 100%. FlexShares Dev Mks ex-US Qual Lw Vol ETF has 191 securities in its portfolio. The top 10 holdings constitute 21.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
FlexShares Dev Mks ex-US Qual Lw Vol ETF is part of the Equity global asset class and is within the International Equity ETF group. FlexShares Dev Mks ex-US Qual Lw Vol ETF has 97.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.2% There is 97.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). FlexShares Dev Mks ex-US Qual Lw Vol ETF has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $54 million in total assets, which is below the $9 billion average for the Foreign Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
QLVD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The FlexShares Dev Mks ex-US Qual Lw Vol ETF expense ratio is low compared to funds in the Foreign Large Blend category. FlexShares Dev Mks ex-US Qual Lw Vol ETF has an expense ratio of 0.12%, which is 70% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. FlexShares Dev Mks ex-US Qual Lw Vol ETF has a portfolio turnover rate of 40%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 38% for the Foreign Large Blend category.
Recently, in the month of July 2026, FlexShares Dev Mks ex-US Qual Lw Vol ETF returned 4.8%, which earned it a grade of A, as the Foreign Large Blend category had an average return of 1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
FlexShares Dev Mks ex-US Qual Lw Vol ETF has a trailing yield of 2.93%, which is above the 2.56% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
FlexShares Dev Mks ex-US Qual Lw Vol ETF Grades
Year to date, the ETF has returned 9.4%, 2.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 17.2% over the past year (grade of F), 13.1% over the past three years (grade of F) and 7.2% per year over the past five years (grade of F).
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QLVD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| QLVD Return (NAV) | 4.8% | 4.5% | 17.2% | 13.1% | 7.2% | na |
| QLVD Return (Price) | 5.4% | 4.4% | 17.2% | 13.1% | 7.2% | na |
| NAV +/- Price Return | -0.561% | 0.145% | 0.004% | -0.023% | 0.048% | na |
| Foreign Large Blend Avg | 1.1% | 4.4% | 25.0% | 16.4% | 9.2% | 9.3% |
| QLVD Grade (NAV) | A | C | F | F | F | na |
| +/- Category (NAV) | 3.7% | 0.2% | -7.9% | -3.3% | -2.0% | na |
| QLVD Tax-Cost Ratio | na | na | 1.1% | 1.1% | 1.2% | na |
QLVD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QLVD Return (NAV) | 9.4% | 23.6% | 5.3% | 12.2% | -12.5% | 9.1% | 3.0% | na | na | na | na |
| QLVD Return (Price) | 9.6% | 24.2% | 4.7% | 11.6% | -12.1% | 9.1% | 3.0% | na | na | na | na |
| NAV +/- Price Ret | 0.018% | 0.026% | -0.110% | -0.051% | -0.032% | -0.005% | -0.011% | na | na | na | na |
| Foreign Large Blend Avg | 12.1% | 31.2% | 5.2% | 16.9% | -14.7% | 10.3% | 8.8% | 22.0% | -13.2% | 24.6% | 1.9% |
| QLVD Grade (NAV) | F | F | B | F | A | D | F | na | na | na | na |
| +/- Category | -2.7% | -7.6% | 0.1% | -4.7% | 2.2% | -1.2% | -5.8% | na | na | na | na |
| Risk Measures | |
| Beta: | 0.64 |
| R-Squared: | 62% |
| Standard Deviation: | 11.2% |
| Category Risk Index: | 0.85 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.91 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 2.9% |
| Total Assets: | $ 55 Mil |
| Share Class Assets: | $ 55 Mil |
| Turnover: | 40.0% |
| Expense Ratio: | 0.12% |
| Index Fund: | Yes |
| Index Tracked: | MSCI World ex USA NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.1 years | |||
| Average Tenure: 5.5 years | |||
| Managers (Year): Anstine Robert (2019), Sullivan Brendan (2019), Bagriy Volter (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 191 |
| % in Top 10 Holdings: | 21.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 97.1% |
Portfolio Allocation |
|
| Domestic Stock: | 2.2% |
| Foreign Stock: | 97.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Flexshares Trust |
| Phone Number: | 855-353-9383 |
| Website: | www.flexshares.com |
| Inception Date: | July 15, 2019 |
Expenses and Fees
| Expense Ratio (%): | 0.12% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.40% |
