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 | 8.6 % |
| TENCENT HOLDINGS LTD | 3.7 % |
| TATA CONSULTANCY SVS LTD | 2.9 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 2.3 % |
| CHINA CONSTRUCTION BANK-H | 2.0 % |
| HINDUSTAN UNILEVER LIMITED | 1.4 % |
| POWER GRID CORP OF INDIA LTD | 1.3 % |
| INTERNATIONAL HOLDINGS COMPANY PJSC | 1.2 % |
| HCL TECHNOLOGIES LTD | 1.2 % |
| RELIANCE INDS-SPONS GDR 144A | 1.2 % |
Constituent Breakdown
| Number of holdings | 196 |
| Herfindahl-Hirschman Index | 162 |
| Wgt avg mkt cap (mns) | $136,342 |
| Large cap (>$10bn) | 68.5% |
| Mid cap ($2-10bn) | 31.0% |
| Small cap (<$2bn) | 0.3% |
| Developed mkts. | 2.7% |
| Emerging mkts. | 97.3% |
Country Exposure
 |
INDIA | 22.5 % |
 |
TAIWAN | 19.6 % |
 |
CHINA | 17.4 % |
 |
SOUTH KOREA | 7.1 % |
 |
UAE | 5.3 % |
 |
MALAYSIA | 5.2 % |
 |
SAUDI ARABIA | 4.1 % |
 |
BRAZIL | 3.4 % |
 |
QATAR | 2.4 % |
 |
KUWAIT | 2.0 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.5% | 22.1% | 16.4% | 2.6% | 3.6% | -- | 4.4% | Volatility | 10.5% | 10.5% | 11.1% | 12.5% | 16.0% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.51 | 47% |
| MSCI EAFE | 0.58 | 64% |
| MSCI Emg Mkts | 0.71 | 91% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.38% |
| ADV of underlying (mns) | $8,861 |
Technical Indicators
| Recent close | $25.62 |
| 30d moving avg. | $26.87 |
| Annualized volatility | 12.9% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.8% |
| 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 | 41.1% | -15 bp | -1.7% |
| QEMM | SPDR MSCI Emerging Markets StrategicFactors ETF | 36.5% | -10 bp | -0.2% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 34.3% | -25 bp | +2.0% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 32.7% | -25 bp | -1.0% |
| EMMF | WisdomTree Emerging Markets Multifactor Fund | 32.1% | +8 bp | +0.5% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 31.7% | +5 bp | +2.7% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 31.3% | +26 bp | +1.7% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 31.2% | -29 bp | +0.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 31.2% | -4 bp | -0.5% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 30.9% | +9 bp | -0.1% |
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
| 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 11/13/2024
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
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.
ALTAR Score™
QLVE
8.3%
Cat. Avg
7.7%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. QLVE's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places QLVE in the 56th 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. | 47.4 | 39.4 | 86.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .