FlexShares US Quality Low Volatility Index Fund (QLV) Performance
QLV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.5% since Dec 31, 2025
- 1 year
- +15.5% total return
- 5 years
- +10.5% a year
- Since first price
- +12.0% a year since 2019
QLV trailing returns vs SPY, QQQ, AGG
| Period | QLV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.8% | +3.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.7% | +6.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +11.1% | +10.3% | +7.8% | +8.4% | −1.5% |
| YTD | +14.5% | +13.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.5% | +13.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +67.5%+18.8%/yr | +59.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +64.7%+10.5%/yr | +51.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJul 16, 2019 | +128.2%+12.0%/yr | +104.6% | — | — | — |
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: QLV vs SPY
From Jul 16, 2019: QLV grew to $22,823, SPY to $28,154.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QLV returns by calendar year
5 of 6 full years positive. Best 2021 (+26.1%), worst 2022 (−10.0%). 2026 is year to date.
QLV annual returns table
| Year | QLV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.5% | −6.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.3% | −11.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +18.1% | −4.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +13.7% | −7.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −10.0% | −17.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.1% | −6.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +9.6% | −33.7% | +18.3% | +48.6% | +7.5% |
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.
QLV largest drawdowns
Now 0.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −33.7% | Mar 23, 2020 | Sep 2, 2020 | 33 days | 6 months |
| Dec 29, 2021 | −17.9% | Oct 12, 2022 | Dec 12, 2023 | 9 months | 2.0 years |
| Dec 5, 2024 | −12.0% | Apr 8, 2025 | Jun 10, 2025 | 4 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QLV risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +17.0% | +10.9% | +11.6% |
| Volatility (annualized) | 8.4% | 12.0% | 13.6% |
| Sharpe ratio | 1.40 | 0.63 | 0.69 |
| Sortino ratio | 2.44 | 1.00 | 1.05 |
| Best month | +6.8% | +7.8% | +10.1% |
| Worst month | −3.9% | −6.5% | −11.9% |
| Best 12 months | +31.3% | +31.3% | +38.2% |
| Worst 12 months | +9.1% | −10.0% | −10.0% |
| Positive months | 69% | 60% | 64% |
| Beta vs S&P 500 | 0.55 | 0.68 | — |
| Correlation with S&P 500 | 0.81 | 0.90 | — |
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.
QLV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 76 | −10.0% | +12.6% | +38.2% | 87% |
| 3-year (a year) | 52 | +6.2% | +10.7% | +18.7% | 100% |
| 5-year (a year) | 28 | +10.0% | +11.9% | +15.7% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
QLV performance overview
FlexShares US Quality Low Volatility Index Fund (QLV) returned +15.5% over the past year and +10.5% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +12.0% a year, turning $10,000 into about $22,823. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.7%, from Feb 19, 2020 to Mar 23, 2020, and it took 5 months to get back to the old high. QLV finished 5 of its 6 full calendar years with a gain; the best year was 2021 (+26.1%) and the worst 2022 (−10.0%). Volatility has been 13.6% a year.
Related: QLV chart, QLV holdings, QLV dividends, QLV valuation. See the QLV overview for the latest quote and fund facts.
QLV performance FAQ
What is the QLV return over the past year?
QLV returned +15.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.7%.
What is the average annual return of QLV?
QLV has returned +10.5% a year over 5 years, +12.0% a year since July 16, 2019 (total return, distributions reinvested).
How much would $10,000 invested in QLV be worth?
$10,000 invested in QLV at its first recorded close on July 16, 2019 would be worth about $22,823 on October 23, 2026 with distributions reinvested.
What was the worst year for QLV?
The worst calendar year was 2022, with a total return of −10.0%. The best was 2021 at +26.1%.
What is the biggest drawdown of QLV?
The largest peak-to-trough decline was −33.7% between February 19, 2020 and March 23, 2020. It recovered to the old high on September 2, 2020, 5 months after the bottom.
How volatile is QLV?
Over the past 3 years QLV had an annualized volatility of 8.4% and a Sharpe ratio of 1.40 (excess return over 1–3 month T-bills per unit of risk).