QLVE
FlexShares Emerging Markets Quality Low Volatility Index Fund
The FlexShares Emerging Markets Quality Low Volatility Index ETF tracks a multi-factor selected index of large- and mid-cap equities from emerging markets.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
12.8 M
ASSETS UNDER MGMT
40 bp
EXPENSES
Fund Basics
| Fund sponsor | Northern Trust |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 15, 2019 |
| Assets (mns) | $13 |
| Expense ratio | 40 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
| TAIWAN SEMICONDUCTOR MANUFAC | 9.1 % |
| TENCENT HOLDINGS LTD | 5.5 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 4.0 % |
| INTERNATIONAL HOLDINGS COMPANY PJSC | 2.2 % |
| TATA CONSULTANCY SVS LTD | 2.2 % |
| SAMSUNG ELECTRONICS CO LTD | 1.6 % |
| CHINA CONSTRUCTION BANK-H | 1.5 % |
| RELIANCE INDS-SPONS GDR 144A | 1.4 % |
| BANK OF CHINA LTD - H | 1.4 % |
| HINDUSTAN UNILEVER LIMITED | 1.2 % |
Constituent Breakdown
| Number of holdings | 185 |
| Herfindahl-Hirschman Index | 198 |
| Wgt avg mkt cap (mns) | $158,563 |
| Large cap (>$10bn) | 70.1% |
| Mid cap ($2-10bn) | 29.6% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 3.0% |
| Emerging mkts. | 96.7% |
Country Exposure
 |
INDIA | 23.2 % |
 |
CHINA | 21.6 % |
 |
TAIWAN | 17.2 % |
 |
MALAYSIA | 5.6 % |
 |
UAE | 5.1 % |
 |
SOUTH KOREA | 4.6 % |
 |
QATAR | 3.4 % |
 |
BRAZIL | 2.8 % |
 |
KUWAIT | 2.7 % |
 |
SAUDI ARABIA | 2.2 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 0.7% | 6.1% | 9.2% | 1.0% | 3.5% | -- | 2.2% | Volatility | 10.1% | 10.5% | 10.4% | 12.4% | 15.9% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.52 | 48% |
| MSCI EAFE | 0.60 | 67% |
| MSCI Emg Mkts | 0.71 | 93% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.38% |
| ADV of underlying (mns) | $6,084 |
Technical Indicators
| Recent close | $25.53 |
| 30d moving avg. | $25.54 |
| Annualized volatility | 12.8% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.6% |
| 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. QLVE |
Expenses vs. QLVE |
ALTAR Score™ vs. QLVE |
|---|---|---|---|---|
| EEMV | iShares MSCI Emerging Markets Min Vol Factor ETF | 39.6% | -15 bp | +0.9% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 39.6% | -25 bp | +3.0% |
| QEMM | SPDR MSCI Emerging Markets StrategicFactors ETF | 35.6% | -10 bp | +3.8% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 35.2% | -25 bp | +5.2% |
| FDEM | Fidelity Emerging Markets Multifactor ETF | 35.1% | -15 bp | +8.0% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 35.0% | +26 bp | +4.6% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 34.6% | -29 bp | +6.2% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 34.3% | -10 bp | +5.0% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 34.2% | +5 bp | +5.5% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 33.8% | -21 bp | +5.3% |
Risk and Returns: QLVE 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 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/2/2025
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
QLVE
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
QLVE
5.6%
Cat. Avg
9.9%
ALTAR Score™ Calculation
Category Overview
There are 156 funds in the Emerging Equity category, with an average ALTAR Score™
of 9.9% and a standard deviation of
4.1%. QLVE's ALTAR Score™ is approximately
1.0 standard deviations
below
the category average. This places QLVE in the 15th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
QLVESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| QLVE (40 bp) Percentile rank | 20 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| QLVE | 40.0 | 38.3 | 78.3 |
| Peer Avg. | 48.3 | 42.3 | 90.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .