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
15.2 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) | $15 |
| 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 | 12.4 % |
| TENCENT HOLDINGS LTD | 4.4 % |
| SAMSUNG ELECTRONICS CO LTD | 3.2 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 2.9 % |
| HDFC BANK LIMITED | 2.1 % |
| HYNIX SEMICONDUCTOR INC | 1.7 % |
| TATA CONSULTANCY SVS LTD | 1.7 % |
| HINDUSTAN UNILEVER LIMITED | 1.1 % |
| RELIANCE INDS-SPONS GDR 144A | 1.1 % |
| BANK OF CHINA LTD - H | 1.1 % |
Constituent Breakdown
| Number of holdings | 190 |
| Herfindahl-Hirschman Index | 259 |
| Wgt avg mkt cap (mns) | $237,686 |
| Large cap (>$10bn) | 71.1% |
| Mid cap ($2-10bn) | 24.2% |
| Small cap (<$2bn) | 0.8% |
| Developed mkts. | 1.1% |
| Emerging mkts. | 101.3% |
Country Exposure
 |
INDIA | 21.5 % |
 |
TAIWAN | 19.1 % |
 |
CHINA | 17.8 % |
 |
SOUTH KOREA | 8.2 % |
 |
MALAYSIA | 5.1 % |
 |
BRAZIL | 3.9 % |
 |
QATAR | 3.8 % |
 |
SAUDI ARABIA | 3.6 % |
 |
UAE | 3.2 % |
 |
PHILIPPINES | 2.8 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 17.9% | 17.9% | 12.3% | 9.9% | 2.0% | -- | -- | 2.5% |
| Dividend Yield | 3.9% | 3.9% | 3.6% | 3.5% | 3.0% | -- | -- | 2.8% |
| Total Returns | 21.9% | 21.9% | 15.9% | 13.4% | 5.0% | -- | -- | 5.3% | Ann. Volatility | 12.5% | 12.5% | 11.4% | 11.1% | 12.6% | -- | -- | 15.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.48 | 57% |
| MSCI EAFE | 0.60 | 62% |
| MSCI Emg Mkts | 0.69 | 93% |
Liquidity Measures
| Avg. volume (000) | 2 |
| ADV traded (mns) | $0 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.28% |
Technical Indicators
| 30d moving avg. (EMA) | $29.47 |
| Relative strength (RSI) | 65 |
| MACD/Signal | 0.34/0.22 |
| Bollinger Bands (Upper/Lower) | $30.58/$28.26 |
| Short interest (% of AUM) | 0.1% |
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 | 40.3% | -15 bp | +6.7% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 37.4% | +26 bp | +8.7% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 37.2% | -25 bp | +9.4% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 36.8% | -10 bp | +9.5% |
| EMMF | WisdomTree Emerging Markets Multifactor Fund | 36.4% | +8 bp | +10.0% |
| EEM | iShares MSCI Emerging Markets ETF | 36.3% | +29 bp | +9.2% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 36.1% | +5 bp | +9.2% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 36.1% | -21 bp | +8.6% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 35.8% | +9 bp | +9.3% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 35.6% | -29 bp | +9.2% |
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 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| 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 1/11/2026
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
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
QLVE
6.8%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 136 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
2.5%. QLVE's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places QLVE in the 35th 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