QLVE vs SPY
FlexShares Emerging Markets Quality Low Volatility Index Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. QLVE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | QLVE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $17M | $789.1B | |
| Dividend Yield | 2.64% | 1.01% | |
| Holdings | 184 | 505 | |
| YTD Return | +13.25% | +13.68% | |
| 1Y Return | +23.07% | +21.53% | |
| 3Y Return (annualized) | +17.37% | +21.44% | |
| 5Y Return (annualized) | +7.86% | +13.18% | |
| Volatility (annualized) | 13.2% | 15.3% | |
| Max Drawdown | -30.0% | -56.5% | |
| Fund Family | Flexshares Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 15, 2019 | Jan 22, 1993 |
QLVE vs SPY Performance
FlexShares Emerging Markets Quality Low Volatility Index Fund (QLVE) is a ETF from Flexshares Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QLVE returned +23.07% while SPY returned +21.53%. Year to date, QLVE is up 13.25% versus a gain of 13.68% for SPY.
Over three years, QLVE compounded at +17.37% per year against +21.44% for SPY; over five years the annualized figures are +7.86% and +13.18% respectively. Across the full 7-year window we track, SPY has the edge at +8.85% annualized vs +6.51%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.2% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QLVE charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, QLVE currently yields 2.64% against 1.01% for SPY.
Holdings Overlap
QLVE and SPY share 0 holdings out of 642 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QLVE or SPY?
QLVE has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, QLVE or SPY?
Over the past year QLVE returned +23.07% vs +21.53% for SPY, so QLVE leads on 1-year performance. Over the longest common window we track (7 years), QLVE annualized +6.51% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, QLVE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.2% for QLVE. Worst drawdown: QLVE -30.0% vs SPY -56.5%.
Should I hold both QLVE and SPY?
QLVE and SPY have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QLVE and SPY?
QLVE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 642 unique securities.
Which pays a higher dividend, QLVE or SPY?
QLVE yields 2.64% while SPY yields 1.01%, so QLVE currently pays the higher dividend yield.
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