QLVE vs RFEM
Northern Trust Emerging Markets Quality Low Volatility ETF vs First Trust RiverFront Dynamic Emerging Markets ETF
Which is better, QLVE or RFEM?
RFEM has been ahead.
QLVE has a lower expense ratio. RFEM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. RFEM is less concentrated, with 38.4% of the fund in its ten largest positions against 38.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | QLVE | RFEM |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.99% |
| AUM | $17M | $84M |
| Dividend Yield | 3.02% | 2.51% |
| Holdings | 169 | 119 |
| Volatility (annualized) | 13.1%Best | 17.5% |
| Max Drawdown | -30.0%Best | -36.0% |
| $10,000 over 7.2 years | $16,070 | $19,888Best |
| Top 10 Weight | 38.5% | 38.4%Best |
| Fund Family | Northern Trust Asset Management | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 15, 2019 | Jun 14, 2016 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 35 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QLVE has data through Oct 16, 2026 and RFEM through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 7.2 years row, are measured over the window both funds cover: Jul 16, 2019 to Sep 11, 2026 (7.2 years).
Risk: Volatility and Drawdowns
RFEM has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 13.1% for QLVE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -30.0% for QLVE and -36.0% for RFEM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QLVE charges 0.18% per year while RFEM charges 0.99%. On a $10,000 position that is $18 vs $99 annually, a gap of $81 per year that compounds over a long holding period. On income, QLVE currently yields 3.02% against 2.51% for RFEM.
Holdings Overlap
10.7% of QLVE's money is in holdings RFEM also owns. 18.4% of RFEM's money is in holdings QLVE also owns.
RFEM and QLVE share little of their money.
12 positions in common, counted across the 135 positions we hold weights for in QLVE and 111 in RFEM, against full books of 169 and 119.
What only one of them owns
Our book lists 8 positions for RFEM that do not appear in our book for QLVE (6.8% of the fund), and 1 for QLVE that do not appear in RFEM (0.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in QLVE | Weight in RFEM | Difference |
|---|---|---|---|
| 2454:TWMediatek, Inc. | 1.56% | 6.60% | 5.04% |
| 0700:KYTencent Holdings Ltd Ordinary Shares | 2.55% | 3.38% | 0.83% |
| 1398:HKIndustrial And Commercial Bank Of China Ltd Class H | 2.26% | 2.09% | 0.17% |
| TUPRS:TRTurkiye Petrol Rafinerileri As | 0.61% | 1.26% | 0.65% |
| BBSE3:BVBb Seguridade Participacoes Sa | 0.89% | 0.69% | 0.20% |
| 138040:KRMeritz Financial Group Inc | 0.31% | 1.15% | 0.84% |
| 2379:TWRealtek Semiconductor Corp | 0.39% | 1.02% | 0.63% |
| VALE3:BVVale Sa | 0.25% | 0.96% | 0.71% |
| TCS:MBTata Consultancy Services Ltd | 0.69% | 0.50% | 0.19% |
| 500209:MBInfosys Ltd Common Stock Inr5. | 0.77% | 0.04% | 0.73% |
You are not choosing between two funds in isolation.
Whichever of QLVE and RFEM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QLVE or RFEM?
QLVE has an expense ratio of 0.18% while RFEM charges 0.99%. QLVE is the cheaper option, by $81 a year on a $10,000 investment.
Which is riskier, QLVE or RFEM?
RFEM has been the more volatile fund at 17.5% annualized versus 13.1% for QLVE. Worst drawdown: QLVE -30.0% vs RFEM -36.0%.
Should I hold both QLVE and RFEM?
QLVE and RFEM have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between QLVE and RFEM?
18.4% of RFEM's money is in holdings QLVE also owns. 18.4% of RFEM's is in holdings QLVE also owns. They hold 12 positions in common, counted across the 135 positions we hold weights for in QLVE and 111 in RFEM.
Which pays a higher dividend, QLVE or RFEM?
QLVE yields 3.02% while RFEM yields 2.51%, so QLVE currently pays the higher dividend yield.
Is RFEM better than QLVE?
QLVE has a lower expense ratio. RFEM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. RFEM is less concentrated, with 38.4% of the fund in its ten largest positions against 38.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.