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Launched · SEC filings

Northern Trust Quality Dividend Defensive ETF

QDEFNYSE ArcaFlexSharesC

$90.41−0.26 (−0.28%)

As of Nov 2, 2026, 3:59 PM ET

C51/ 100

Rank 32 of 53 in US Dividend Index

C51/100Rank 32 of 53inUS Dividend Index
Intraday session: down, 79 prints from 90.66 to 90.41. Range 90.41 to 91.20. Use the arrow keys to read each point.90.8091.0091.2010 AM12 PM2 PM4 PM
Expense ratio
0.39%*
Fund size
$551M
1Y total return
+15.1%
Yield · Last 12 months
1.57%
Holdings
157
Avg volume · 30D
6.81K sh
52W range
low $77.97high $91.97
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Mar 1, 2027. Without it: 0.40%.

The ETF.net QDEF Grade

C

Score 51 out of 100

Category
US Dividend Index⁠
Rank
32 of 53
Six-pillar profile for QDEF. Scores out of 100: Cost 36, Risk 70, Mission 66, Tradability 43, Holdings 44, Durability 57. Strongest: Risk (70). Weakest: Cost (36). Leans toward Risk and Mission.

Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D36 out of 100
    Rank 32 of 53

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B66 out of 100
    Rank 42 of 50

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A70 out of 100
    Rank 11 of 53

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C43 out of 100
    Rank 31 of 53

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C44 out of 100
    Rank 36 of 53

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 28 of 53

Our read on QDEF

ETF.net Research

In short

CMost dividend funds screen for yield and hope the ride stays smooth. QDEF's index engineers it: quality and payout screens first, then a portfolio beta targeted at 0.5 to 1.0 times its Northern Trust parent index.

Stated mandate

The fund provides exposure to a high-quality, income-oriented portfolio of long-only U.S. equity securities, emphasizing long-term capital growth and a defensive beta relative to its parent index.

Why people hold it

  • The defensive part is a rule, not a vibe: the index targets overall beta of 0.5 to 1.0 times the Northern Trust 1250 parent index, so the tilt is built into construction.flexshares.com
  • Yield alone does not get a stock in. Profitability and quality screens sit alongside the payout test, sector by sector, across roughly 160 US holdings. Pays quarterly.flexshares.com
  • Listed in December 2012, so the index and the fund have run through several market cycles, built and maintained by Northern Trust's own index desk.

Worth knowing

  • Costs 0.39% net of a waiver through March 1, 2027 (0.40% gross), near the category median. Index staples like SCHD at 0.06% and VIG at 0.04% run a fraction of that.
  • It trades lightly next to the category's giants, so spreads can be wider and patient limit orders are the norm.
  • The fund uses representative sampling rather than holding every index name, which FlexShares flags as a source of tracking risk.flexshares.com

QDEF Performance

Launched Dec 14, 2012

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

QDEF$11,505
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. QDEF $11,505. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for QDEF. Periods over one year show the average yearly return.
PeriodQDEF
Year to date+13.2%
1 month+2.0%
3 months+2.5%
1 year+15.1%
3 yearsper year+21.6%
5 yearsper year+12.4%
10 yearsper year+12.6%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for QDEF
YearReturn barQDEF
2026 YTD+13.2%
2025+17.4%
2024+21.2%
2023+17.5%
2022−10.9%
2021+26.1%
2020+3.2%

QDEF in the news

QDEF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
1.57%Last 12 months
Payout per share
$1.42Last 12 months
Last payment
$0.34 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 20, 2017 $0.19; Jun 19, 2017 $0.26; Sep 18, 2017 $0.32; Dec 21, 2017 $0.42; Mar 19, 2018 $0.18; Jun 18, 2018 $0.29; Sep 24, 2018 $0.35; Dec 21, 2018 $1.99; Mar 15, 2019 $0.21; Jun 21, 2019 $0.34; Sep 20, 2019 $0.25; Dec 20, 2019 $0.72; Mar 20, 2020 $0.26; Jun 19, 2020 $0.32; Sep 18, 2020 $0.27; Dec 18, 2020 $0.35; Mar 19, 2021 $0.20; Jun 18, 2021 $0.27; Sep 17, 2021 $0.26; Dec 17, 2021 $0.36; Mar 18, 2022 $0.21; Jun 17, 2022 $0.32; Sep 16, 2022 $0.32; Dec 16, 2022 $0.39; Mar 17, 2023 $0.19; Jun 16, 2023 $0.38; Sep 15, 2023 $0.27; Dec 15, 2023 $0.46; Mar 15, 2024 $0.18; Jun 21, 2024 $0.34; Sep 20, 2024 $0.33; Dec 20, 2024 $0.45; Mar 21, 2025 $0.21; Jun 20, 2025 $0.34; Sep 19, 2025 $0.32; Dec 19, 2025 $0.54; Mar 20, 2026 $0.20; Jun 18, 2026 $0.34; Sep 18, 2026 $0.34. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 24, 2026$0.34
Jun 18, 2026Jun 25, 2026$0.34
Mar 20, 2026Mar 26, 2026$0.20
Dec 19, 2025Dec 26, 2025$0.54
Sep 19, 2025Sep 25, 2025$0.32
Jun 20, 2025Jun 26, 2025$0.34
Mar 21, 2025Mar 27, 2025$0.21
Dec 20, 2024Dec 27, 2024$0.45
Sep 20, 2024Sep 26, 2024$0.33
Jun 21, 2024Jun 27, 2024$0.34
Mar 15, 2024Mar 21, 2024$0.18
Dec 15, 2023Dec 21, 2023$0.46

See all 56 payments⁠

$10,000 in QDEF 10 years ago paid $3,980 in dividends.⁠

QDEF Risk

Risk pillarA70 out of 100Rank 11 of 53 in US Dividend Index
How much the fund’s monthly returns vary, scaled to a year.
9.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.59
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−21.4%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.83
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

QDEF Cost

Compare QDEF and VIG

Overpaying vs VIG, cheapest in US Dividend Index

$7,049

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • QDEF 0.39%

    $7,898

  • VIG 0.04% Cheapest

    $849

$10,000
30 years

Cost over time

  • QDEF 0.39%
  • VIG 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530QDEF $7,898VIG $849

Year by year

YearQDEFVIGOverpaying
10$705$73$632
20$2,725$288$2,437
30$7,898$849$7,049
How the 0.39% is worked out

Full fee 0.40%− waiver 0.01%= you pay 0.39%

The waiver ends Mar 1, 2027. After that the fee is 0.40% unless FlexShares renews it. Source: prospectus, Aug 2026.

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