FlexShares Morningstar Developed Markets… (TLTD) Performance
TLTD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.9% since Dec 31, 2025
- 1 year
- +14.4% total return
- 5 years
- +9.8% a year
- 10 years
- +9.3% a year
- Since first price
- +8.2% a year since 2012
TLTD trailing returns vs SPY, QQQ, AGG
| Period | TLTD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.8% | −2.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.0% | +0.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.3% | +1.4% | +7.8% | +8.4% | −1.5% |
| YTD | +8.9% | +6.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +14.4% | +10.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +83.4%+22.4%/yr | +64.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +59.7%+9.8%/yr | +33.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +143.1%+9.3%/yr | +76.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionSep 28, 2012 | +201.8%+8.2%/yr | +100.3% | — | — | — |
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: TLTD vs SPY
From Sep 28, 2012: TLTD grew to $30,181, SPY to $67,107.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TLTD returns by calendar year
9 of 13 full years positive. Best 2025 (+39.7%), worst 2018 (−17.6%). 2026 is year to date.
TLTD annual returns table
| Year | TLTD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.9% | −12.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +39.7% | −13.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.8% | −8.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.2% | −11.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −13.7% | −28.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +12.8% | −7.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +4.2% | −37.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +21.3% | −8.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −17.6% | −25.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +26.3% | −2.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +5.4% | −12.2% | +12.0% | +7.1% | +2.4% |
| 2015 | −1.1% | −16.7% | +1.2% | +9.4% | +0.5% |
| 2014 | −6.5% | −14.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +20.9% | −10.1% | +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.
TLTD largest drawdowns
Now 5.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −40.6% | Mar 23, 2020 | Jan 6, 2021 | 2.2 years | 2.9 years |
| Sep 3, 2021 | −29.0% | Oct 12, 2022 | Mar 1, 2024 | 1.1 years | 2.5 years |
| Jul 2, 2014 | −24.9% | Feb 11, 2016 | Apr 25, 2017 | 1.6 years | 2.8 years |
| Mar 19, 2025 | −13.1% | Apr 8, 2025 | Apr 28, 2025 | 20 days | 40 days |
| Feb 26, 2026 | −12.1% | Mar 20, 2026 | Jul 30, 2026 | 22 days | 5 months |
| May 21, 2013 | −10.1% | Jun 24, 2013 | Aug 13, 2013 | 34 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TLTD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +21.6% | +10.9% | +9.4% | +8.4% |
| Volatility (annualized) | 12.3% | 15.7% | 15.9% | 14.9% |
| Sharpe ratio | 1.31 | 0.52 | 0.51 | 0.51 |
| Sortino ratio | 2.18 | 0.78 | 0.74 | 0.75 |
| Best month | +7.8% | +12.4% | +15.6% | +15.6% |
| Worst month | −8.3% | −9.6% | −17.9% | −17.9% |
| Best 12 months | +45.0% | +45.0% | +54.1% | +54.1% |
| Worst 12 months | +4.8% | −24.8% | −24.8% | −24.8% |
| Positive months | 72% | 62% | 62% | 60% |
| Beta vs S&P 500 | 0.58 | 0.76 | 0.85 | — |
| Correlation with S&P 500 | 0.59 | 0.76 | 0.82 | — |
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.
TLTD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 158 | −24.8% | +9.7% | +54.1% | 66% |
| 3-year (a year) | 134 | −5.4% | +5.4% | +23.7% | 89% |
| 5-year (a year) | 110 | −2.1% | +6.0% | +14.1% | 95% |
| 10-year (a year) | 50 | +2.7% | +5.0% | +10.8% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
TLTD performance overview
FlexShares Morningstar Developed Markets… (TLTD) returned +14.4% over the past year and +9.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +8.2% a year, turning $10,000 into about $30,181. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −40.6%, from Jan 26, 2018 to Mar 23, 2020, and it took 9 months to get back to the old high. TLTD finished 9 of its 13 full calendar years with a gain; the best year was 2025 (+39.7%) and the worst 2018 (−17.6%). Volatility has been 14.9% a year.
Related: TLTD chart, TLTD holdings, TLTD dividends. See the TLTD overview for the latest quote and fund facts.
TLTD performance FAQ
What is the TLTD return over the past year?
TLTD returned +14.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.5%.
What is the average annual return of TLTD?
TLTD has returned +9.8% a year over 5 years, +9.3% a year over 10 years, +8.2% a year since September 28, 2012 (total return, distributions reinvested).
How much would $10,000 invested in TLTD be worth?
$10,000 invested in TLTD at its first recorded close on September 28, 2012 would be worth about $30,181 on October 23, 2026 with distributions reinvested.
What was the worst year for TLTD?
The worst calendar year was 2018, with a total return of −17.6%. The best was 2025 at +39.7%.
What is the biggest drawdown of TLTD?
The largest peak-to-trough decline was −40.6% between January 26, 2018 and March 23, 2020. It recovered to the old high on January 6, 2021, 9 months after the bottom.
How volatile is TLTD?
Over the past 3 years TLTD had an annualized volatility of 12.3% and a Sharpe ratio of 1.31 (excess return over 1–3 month T-bills per unit of risk).