FlexShares Quality Dividend Index Fund (QDF) Performance
QDF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +12.8% since Dec 31, 2025
- 1 year
- +15.0% total return
- 5 years
- +11.3% a year
- 10 years
- +12.0% a year
- Since first price
- +12.4% a year since 2012
QDF trailing returns vs SPY, QQQ, AGG
| Period | QDF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.8% | +0.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.1% | +6.3% | +7.8% | +8.4% | −1.5% |
| YTD | +12.8% | +11.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.0% | +13.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +73.8%+20.2%/yr | +64.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +70.6%+11.3%/yr | +54.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +211.7%+12.0%/yr | +141.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionDec 19, 2012 | +405.9%+12.4%/yr | +253.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: QDF vs SPY
From Dec 19, 2012: QDF grew to $50,594, SPY to $66,959.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QDF returns by calendar year
10 of 13 full years positive. Best 2013 (+36.3%), worst 2022 (−12.1%). 2026 is year to date.
QDF annual returns table
| Year | QDF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +12.8% | −7.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +16.6% | −18.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.0% | −5.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +19.7% | −10.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −12.1% | −22.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.6% | −5.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +4.9% | −36.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +25.7% | −8.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −8.0% | −19.9% | −4.6% | −0.1% | +0.1% |
| 2017 | +17.4% | −3.1% | +21.7% | +32.7% | +3.6% |
| 2016 | +17.0% | −7.9% | +12.0% | +7.1% | +2.4% |
| 2015 | −0.9% | −12.1% | +1.2% | +9.4% | +0.5% |
| 2014 | +11.8% | −6.9% | +13.5% | +19.2% | +6.0% |
| 2013 | +36.3% | −5.2% | +32.3% | +36.6% | −2.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
QDF largest drawdowns
Now 3.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2020 | −36.7% | Mar 23, 2020 | Dec 1, 2020 | 40 days | 10 months |
| Jan 4, 2022 | −22.1% | Sep 30, 2022 | Jul 19, 2023 | 9 months | 1.5 years |
| Sep 21, 2018 | −19.9% | Dec 24, 2018 | Oct 21, 2019 | 3 months | 1.1 years |
| Feb 19, 2025 | −18.0% | Apr 8, 2025 | Jun 27, 2025 | 48 days | 4 months |
| May 21, 2015 | −13.2% | Jan 20, 2016 | Apr 13, 2016 | 8 months | 11 months |
| Jan 26, 2018 | −10.6% | Mar 23, 2018 | Aug 21, 2018 | 56 days | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QDF risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +19.6% | +12.4% | +11.9% | +12.7% |
| Volatility (annualized) | 11.5% | 14.9% | 15.3% | 14.2% |
| Sharpe ratio | 1.24 | 0.62 | 0.67 | 0.80 |
| Sortino ratio | 2.23 | 0.98 | 0.99 | 1.24 |
| Best month | +8.6% | +10.7% | +12.1% | +12.1% |
| Worst month | −5.2% | −9.5% | −15.1% | −15.1% |
| Best 12 months | +32.3% | +32.3% | +51.9% | +51.9% |
| Worst 12 months | +5.8% | −13.1% | −16.9% | −16.9% |
| Positive months | 75% | 65% | 68% | 68% |
| Beta vs S&P 500 | 0.88 | 0.91 | 0.96 | — |
| Correlation with S&P 500 | 0.95 | 0.96 | 0.96 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
QDF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 155 | −16.9% | +13.5% | +51.9% | 84% |
| 3-year (a year) | 131 | −0.8% | +10.4% | +21.4% | 99% |
| 5-year (a year) | 107 | +2.9% | +10.8% | +16.3% | 100% |
| 10-year (a year) | 47 | +8.5% | +10.2% | +12.4% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
QDF performance overview
FlexShares Quality Dividend Index Fund (QDF) returned +15.0% over the past year and +12.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +12.4% a year, turning $10,000 into about $50,594. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −36.7%, from Feb 12, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. QDF finished 10 of its 13 full calendar years with a gain; the best year was 2013 (+36.3%) and the worst 2022 (−12.1%). Volatility has been 14.2% a year.
Related: QDF chart, QDF holdings, QDF dividends, QDF valuation. See the QDF overview for the latest quote and fund facts.
QDF performance FAQ
What is the QDF return over the past year?
QDF returned +15.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.2%.
What is the average annual return of QDF?
QDF has returned +11.3% a year over 5 years, +12.0% a year over 10 years, +12.4% a year since December 19, 2012 (total return, distributions reinvested).
How much would $10,000 invested in QDF be worth?
$10,000 invested in QDF at its first recorded close on December 19, 2012 would be worth about $50,594 on October 23, 2026 with distributions reinvested.
What was the worst year for QDF?
The worst calendar year was 2022, with a total return of −12.1%. The best was 2013 at +36.3%.
What is the biggest drawdown of QDF?
The largest peak-to-trough decline was −36.7% between February 12, 2020 and March 23, 2020. It recovered to the old high on December 1, 2020, 8 months after the bottom.
How volatile is QDF?
Over the past 3 years QDF had an annualized volatility of 11.5% and a Sharpe ratio of 1.24 (excess return over 1–3 month T-bills per unit of risk).