DIVI vs IQDF: Grades, Fees and Holdings Compared

Franklin International Core Dividend Tilt Index ETF

DIVIANYSE Arca

Northern Trust International Quality Dividend ETF

IQDFBNYSE Arca

Overlap

30.9%by weight

Expense ratio

DIVI −0.38pt a year

DIVI0.09%IQDF0.47%

Avg volume · 30D

DIVI 3.6×the volume

DIVI192KIQDF53.1K

10Y return · a year

DIVI +1.7pt

DIVI+10.9%IQDF+9.2%

DIVI vs IQDF Performance

Oct 29, 2021 – Oct 30, 2026

+86.6%DIVI+68.3%IQDF

Expense ratio: DIVI 0.09%, better; IQDF 0.47%
Fund size: DIVI $2.64B; IQDF $1.12B
1Y total return: DIVI +16.4%; IQDF +20.4%, better
Yield (12M): DIVI 3.72%, better; IQDF 3.53%
Holdings: DIVI 418; IQDF 221
Avg volume (30D): DIVI 192K sh, better; IQDF 53.1K sh
NAV per share: DIVI $42.45; IQDF $33.75
52W range

ETF.net Grade

Pillar letters and Scores for DIVI, IQDF, with each pillar’s weight
Pillar	DIVI	IQDF
Cost30% weight	A90Higher	B65
Mission25% weight	A100Higher	A91
Risk15% weight	D38	C40Higher
Tradability15% weight	B64Higher	C41
Holdings10% weight	A80Higher	A70
Durability5% weight	B64Higher	B60

Rank among International Dividend Index funds

How we build Categories ›

Same Category. DIVI and IQDF are both graded against the same 34 International Dividend Index funds, so their Grades compare head to head.

International Dividend Index⁠

Category · 34 funds

See all 34 ›

DIVI ranks 2nd and IQDF 13th of 34 funds in the International Dividend Index Category.

Rank 1AVYMIVanguard International High Dividend Yield ETFScore 84
Rank 2ADIVIFranklin International Core Dividend Tilt Index ETFScore 78
Rank 3AIGROiShares International Dividend Growth ETFScore 77
Rank 12BDWMWisdomTree International Equity FundScore 67
Rank 13BIQDFNorthern Trust International Quality Dividend ETFScore 64
Rank 14BDOLWisdomTree True Developed International FundScore 63

Our read on each fund

ETF.net Research

DIVIAFranklin International Core Dividend Tilt Index ETF

IQDFBNorthern Trust International Quality Dividend ETF

In short

DIVI A tilt, not a screen: DIVI optimizes a broad developed-markets ex-North America index toward higher yield while limiting drift from that parent. Core international shape, income lean, 0.09% a year.

IQDF A dividend fund that ignores dividend history. Northern Trust scores roughly 300 non-US large and mid caps on its own Dividend Quality Score, chasing payouts the balance sheet can support, and pays quarterly.

Stated mandate

DIVI The Fund seeks to track, before fees and expenses, the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Its index methodology seeks higher dividend yield than the parent index while maintaining core exposure to developed markets outside North America.

IQDF The Fund seeks to track, before fees and expenses, the price and yield performance of the Northern Trust International Quality Dividend Index.

Why people hold it

DIVI Costs 0.09% a year, while the median fund in its international-dividend cohort charges closer to 0.50%.
The index takes a broad developed ex-North America benchmark and optimizes it for higher yield while limiting expected tracking error to that parent. Income lean, core shape.sec.gov
Tracks its index closely, among the strongest implementations in its peer group.
A multi-billion-dollar fund holding about 80 developed-market names, paying distributions quarterly.

IQDF The screen looks forward, not backward: a Dividend Quality Score built on profitability and quality metrics, instead of a streak of past raises that can stop any year.flexshares.com
Transparent plumbing: names are drawn from Northern Trust's own index of non-US large and mid caps, then weighted toward the strongest dividend-quality scorers.sec.gov
Running since 2013, and the designated survivor of the lineup: it was the acquiring fund when FlexShares folded its defensive international dividend sibling in.sec.gov
A billion-dollar-plus fund that sits in the upper half of its international dividend peer group on our review.

Worth knowing

DIVI The tilt is mild by design: the index caps how far it can drift from its parent, so it reaches for less yield than funds built on hard high-yield screens.sec.gov
Cheaper options sit in the same cohort (VYMI at 0.07%, SCHY at 0.08%), so the fee edge is over the category median, not over the largest index shops.
Today's strategy dates to 2022, when the fund was renamed from Franklin LibertyQ International Equity Hedged ETF, so its 2016-onward record covers a different mandate.sec.gov

IQDF Costs 0.47% net of a waiver through March 1, 2027 (0.49% gross), near the category median, while index rivals VYMI (0.07%) and SCHY (0.08%) charge less.
Moderately traded rather than a category heavyweight, so the spread you pay at the moment of trade matters more.
A quality-and-yield screen shifts the sector and country mix away from a plain international index, so results can diverge from the broad market.flexshares.com

Full DIVI profile⁠

Full IQDF profile⁠

DIVI vs IQDF Holdings

How DIVI and IQDF differ

Overlap by weight

30.9%

Shared holdings make up 51.9% of IQDF and 43.4% of DIVI.

Level by level

Holdings101 in both30.9%
Countryby domicile54.6%
Sector11 Sectors84.5%
Asset classEquity100%

Sector

Sector weights in DIVI and IQDF, widest gap first
Sector	More in DIVIMore in IQDF	DIVI	IQDF
Technology	IQDF +8.9 points	11.4%	20.3%
Industrials	DIVI +5.8 points	17.5%	11.7%
Health Care	DIVI +4.2 points	9.1%	4.9%
Energy	IQDF +3.7 points	3.6%	7.3%
Materials	IQDF +2.5 points	5.6%	8.1%
Financials	DIVI +1.7 points	29.3%	27.6%
Communication	DIVI +1.6 points	5.2%	3.6%
Consumer Staples	DIVI +1.4 points	6.1%	4.7%
Utilities	DIVI +0.8 points	4.1%	3.3%
Real Estate	IQDF +0.4 points	2.0%	2.4%
Consumer Discretionary	DIVI +0.1 points	6.2%	6.1%

Country, concentration and asset class

Country by domicile

Country weights in DIVI and IQDF, widest gap first
Country	More in DIVIMore in IQDF	DIVI	IQDF
Taiwan	IQDF +11.3 points	0.0%	11.3%
Japan	DIVI +10.7 points	23.0%	12.3%
Canada	IQDF +7.1 points	0.0%	7.1%
China	IQDF +5.8 points	0.0%	5.8%
United Kingdom	DIVI +5.6 points	13.9%	8.3%
Germany	DIVI +5.2 points	8.0%	2.8%
South Korea	IQDF +4.8 points	0.0%	4.8%
Australia	DIVI +4.4 points	8.5%	4.1%
Other countries (26)	DIVI +3.1 points	46.6%	43.5%

Outside the US: DIVI 98% developed, 2% emerging. IQDF 64% developed, 36% emerging.

Concentration

Weight in the 10 largest Holdings

DIVI14.2%
IQDF19.4%

Securities held

DIVI416
IQDF190

Asset class

DIVI: Equity
IQDF: Equity

Holdings

Only in DIVI315
In both101
Only in IQDF89

Only in DIVI

315 securities, 56.6% of DIVI by weight

Siemens Ag-Reg1.15%
British American Tobacco1.09%
Zurich Insurance Group AG0.99%
Toyota Motor Corp0.85%
Recruit Holdings Co Ltd0.83%
Unilever PLC0.78%
Takeda Pharmaceutical Co0.70%
Eni Spa0.68%
Banco Bilbao Vizcaya Arge0.67%
Sumitomo Mitsui Financial0.63%
Axa SA0.62%
Rolls-Royce Holdings PLC0.55%
Airbus SE0.55%
Engie0.54%
Sony Group Corp0.53%
Softbank Corp0.53%
Abb Ltd-Reg0.51%
Westpac Banking Corp0.50%
Diageo PLC0.48%
Orange0.48%
Siemens Energy AG0.47%
Anz Group Holdings Ltd0.47%
Muenchener Rueckver Ag-Re0.46%
Mizuho Financial Group In0.45%
Transurban Group0.45%
Swiss Re AG0.44%
Reckitt Benckiser Group0.44%
Hong Kong Exchanges & Cle0.43%
Aviva PLC0.43%
Net Current Assets0.43%
Ing Groep NV0.42%
National Grid PLC0.42%
Softbank Group Corp0.41%
Aia Group Ltd0.41%
Basf SE0.40%
Iberdrola SA0.39%
Tokio Marine Holdings Inc0.39%
Fast Retailing Co Ltd0.39%
Cie Financiere Richemo-A0.38%
Keyence Corp0.38%
Wesfarmers Ltd0.37%
Shin-Etsu Chemical Co Ltd0.36%
Relx PLC0.35%
Ubs Group Ag-Reg0.35%
Itochu Corp0.35%
L'oreal0.34%
Csl Ltd0.34%
Safran SA0.34%
Murata Manufacturing Co L0.34%
Aib Group PLC0.34%

Only in IQDF

89 securities, 45.8% of IQDF by weight

Taiwan Semiconductor Manufacturing Co Ltd Common4.55%
Mediatek Inc Common Stock Twd 102.18%
Samsung Electronics Co Ltd Common Stock Krw 1001.76%
Canadian Natural Resources Ltd Common Stock Cad 01.30%
Sk Hynix Inc Common Stock Krw 50001.20%
Toronto-Dominion Bank/The Common Stock1.10%
Reckitt Benckiser Group PLC Common Stock Gbp0.91%
Msci Eafe Equity Index 18/DEC/2026 MFSZ6 Index0.88%
Evergreen Marine Corp Taiwan Ltd Common Stock Twd0.86%
Huaneng Power International Inc Common Stock Hkd 10.86%
Grupo Financiero Banorte Sab De Cv Common Stock0.85%
Realtek Semiconductor Corp Common Stock Twd 100.83%
Novatek Microelectronics Corp Common Stock Twd 100.83%
Bb Seguridade Participacoes SA Common Stock Brl0.82%
Hcl Technologies Ltd Common Stock Inr 20.81%
Cosco Shipping Holdings Co Ltd Common Stock Hkd 10.81%
Enbridge Inc Common Stock Cad 00.77%
Ptt Exploration & Production Pcl Nvdr Thb 10.77%
International Consolidated Airlines Group SA0.75%
Ambev SA Common Stock Brl 00.75%
Brookfield Asset Management Ltd Common Stock Cad0.74%
Eva Airways Corp Common Stock Twd 100.72%
Quinenco SA Common Stock Clp 00.70%
Bank Rakyat Indonesia Persero Tbk Pt Common Stock0.70%
Renault SA Common Stock Eur 3.810.70%
Bank Negara Indonesia Persero Tbk Pt Common Stock0.69%
Klepierre SA Reit Eur 1.40.68%
Talabat Holding PLC Common Stock Aed 0.040.68%
Bosideng International Holdings Ltd Common Stock0.68%
Korea Investment Holdings Co Ltd Common Stock Krw0.67%
Upm-Kymmene Oyj Common Stock Eur 00.66%
Lundin Gold Inc Common Stock Cad 00.65%
Kumba Iron Ore Ltd Common Stock Zar 0.010.65%
Haidilao International Holding Ltd Common Stock0.63%
Royal Bank of Canada Common Stock Cad 00.61%
Bank Mandiri Persero Tbk Pt Common Stock Idr 1250.59%
China Taiping Insurance Holdings Co Ltd Common0.59%
China Hongqiao Group Ltd Common Stock Hkd 0.010.49%
Infosys Ltd Common Stock Inr 50.48%
Msci Emgmkt Equity Index 18/DEC/2026 MESZ6 Index0.43%
Tencent Holdings Ltd Common Stock Hkd 0.000020.43%
Kiwoom Securities Co Ltd Common Stock Krw 50000.42%
Astra International Tbk Pt Common Stock Idr 500.41%
Absa Group Ltd0.39%
Barrick Mining Corp Common Stock Cad0.36%
Petrochina Co Ltd Common Stock Hkd 10.30%
Telkom Indonesia Persero Tbk Pt Common Stock Idr0.27%
Emaar Properties Pjsc Common Stock Aed 10.26%
Quanta Computer Inc Common Stock Twd 100.26%
MS&AD Insurance Group Holdings Inc Common Stock0.26%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in DIVI and IQDF, widest gap first
Holding	More in DIVIMore in IQDF	DIVI	IQDF
Asml Holding NV	DIVI +1.54 points	2.82%	1.28%
Advantest Corp	IQDF +1.50 points	0.78%	2.28%
Sanofi	DIVI +0.99 points	1.01%	0.02%
Astrazeneca PLCAZN.L	DIVI +0.98 points	1.29%	0.31%
Sap SE	DIVI +0.97 points	1.11%	0.14%
Novartis Ag-Reg	DIVI +0.96 points	1.29%	0.33%
Novo Nordisk A/S-B	IQDF +0.92 points	0.72%	1.64%
Hsbc Holdings PLCHSBA.L	DIVI +0.90 points	1.31%	0.41%
Var Energi Asa	IQDF +0.85 points	0.07%	0.92%
Allianz Se-Reg	DIVI +0.79 points	0.83%	0.04%
Commonwealth Bank of Aust	DIVI +0.76 points	0.79%	0.03%
Fortum Oyj	IQDF +0.71 points	0.05%	0.76%
Makita Corp	IQDF +0.70 points	0.11%	0.81%
Erste Bank Polska SA	IQDF +0.67 points	0.11%	0.78%
Skandinaviska Enskilda Ba	IQDF +0.67 points	0.11%	0.78%
Bnp Paribas	IQDF +0.67 points	0.68%	1.35%
Wolters Kluwer	IQDF +0.66 points	0.29%	0.95%
Telenor Asa	IQDF +0.63 points	0.13%	0.76%
Aena Sme SA	IQDF +0.62 points	0.19%	0.81%
Banca Mediolanum Spa	IQDF +0.61 points	0.08%	0.69%
TELE2 Ab-B Shs	IQDF +0.58 points	0.13%	0.71%
Schneider Electric SE	DIVI +0.59 points	0.61%	0.02%
Kone Oyj-B	IQDF +0.56 points	0.20%	0.76%
Bank Pekao SA	IQDF +0.56 points	0.19%	0.75%
Orix Corp	IQDF +0.55 points	0.24%	0.79%
Mitsubishi Chemical Group	IQDF +0.53 points	0.14%	0.67%
Wh Group Ltd	IQDF +0.52 points	0.09%	0.61%
Imperial Brands PLCIMB.L	IQDF +0.49 points	0.45%	0.94%
Legal & General Group PLCLGEN.L	IQDF +0.49 points	0.32%	0.81%
Dbs Group Holdings Ltd	DIVI +0.47 points	0.77%	0.30%
Lvmh Moet Hennessy Louis	DIVI +0.45 points	0.53%	0.08%
Partners Group Holding AG	IQDF +0.44 points	0.26%	0.70%
Fortescue Ltd	IQDF +0.40 points	0.23%	0.63%
Intesa Sanpaolo	IQDF +0.39 points	0.92%	1.31%
Equinor Asa	IQDF +0.36 points	0.12%	0.48%
Nestle Sa-Reg	DIVI +0.36 points	1.41%	1.05%
Nordea Bank Abp	DIVI +0.34 points	0.72%	0.38%
Ing Bank Slaski SA	IQDF +0.35 points	0.05%	0.40%
Unicredit Spa	IQDF +0.34 points	0.67%	1.01%
Mitsubishi Ufj Financial	DIVI +0.33 points	1.03%	0.70%
Fresnillo PLCFRES.L	IQDF +0.33 points	0.08%	0.41%
Totalenergies SE	IQDF +0.31 points	0.77%	1.08%
Japan Exchange Group Inc	IQDF +0.30 points	0.16%	0.46%
Mercedes-Benz Group AG	IQDF +0.29 points	0.45%	0.74%
Bhp Group Ltd	IQDF +0.29 points	1.10%	1.39%
Tokyo Electron Ltd	IQDF +0.27 points	0.67%	0.94%
Lasertec Corp	IQDF +0.26 points	0.16%	0.42%
Enel Spa	IQDF +0.26 points	0.85%	1.11%
Bp PLCBP.L	IQDF +0.23 points	0.67%	0.90%
Swedbank Ab - A Shares	DIVI +0.22 points	0.51%	0.29%
Deutsche Telekom Ag-Reg	DIVI +0.22 points	0.45%	0.23%
Shell PLCSHEL.L	DIVI +0.21 points	0.48%	0.27%
Woodside Energy Group Ltd	DIVI +0.19 points	0.51%	0.32%
Roche Holding AG	DIVI +0.18 points	1.62%	1.44%
Fujikura Ltd	IQDF +0.18 points	0.24%	0.42%
Danske Bank A/S	IQDF +0.18 points	0.10%	0.28%
Hochtief AG	IQDF +0.16 points	0.03%	0.19%
Vodafone Group PLCVOD.L	IQDF +0.16 points	0.12%	0.28%
Honda Motor Co Ltd	IQDF +0.16 points	0.37%	0.53%
Nitto Denko Corp	IQDF +0.15 points	0.07%	0.22%
National Australia Bank L	IQDF +0.13 points	0.48%	0.61%
Rio Tinto PLCRIO.L	DIVI +0.13 points	0.75%	0.62%
Qantas Airways Ltd	IQDF +0.12 points	0.07%	0.19%
Kbc Group NV	IQDF +0.12 points	0.13%	0.25%
Rio Tinto Ltd	DIVI +0.12 points	0.39%	0.27%
Japan Tobacco Inc	DIVI +0.12 points	0.48%	0.36%
Subaru Corp	IQDF +0.13 points	0.12%	0.25%
Ck Asset Holdings Ltd	IQDF +0.11 points	0.12%	0.23%
Hitachi Ltd	DIVI +0.11 points	0.66%	0.55%
Fanuc Corp	IQDF +0.11 points	0.21%	0.32%
Continental AG	IQDF +0.10 points	0.11%	0.21%
Hennes & Mauritz Ab-B Shs	IQDF +0.09 points	0.12%	0.21%
Capitaland Ascendas Reit	IQDF +0.09 points	0.11%	0.20%
Bureau Veritas SA	IQDF +0.09 points	0.15%	0.24%
Intertek Group PLCITRK.L	IQDF +0.08 points	0.16%	0.24%
Pko Bank Polski SA	DIVI +0.09 points	0.35%	0.26%
Coloplast-B	IQDF +0.08 points	0.15%	0.23%
Dhl AG	DIVI +0.07 points	0.49%	0.42%
Nomura Holdings Inc	IQDF +0.08 points	0.20%	0.28%
Powszechny Zaklad Ubezpie	IQDF +0.07 points	0.14%	0.21%
Caixabank SA	IQDF +0.06 points	0.25%	0.31%
Mitsubishi Corp	IQDF +0.06 points	0.41%	0.47%
Astellas Pharma Inc	DIVI +0.07 points	0.35%	0.28%
Bank Hapoalim Bm	DIVI +0.06 points	0.33%	0.27%
Telefonica SA	DIVI +0.06 points	0.25%	0.19%
Vonovia SE	DIVI +0.06 points	0.23%	0.17%
Natwest Group PLCNWG.L	DIVI +0.06 points	0.49%	0.43%
Bouygues SA	IQDF +0.04 points	0.13%	0.17%
Bayerische Motoren Werke	DIVI +0.04 points	0.29%	0.24%
Dnb Bank Asa	DIVI +0.04 points	0.34%	0.30%
Admiral Group PLCADM.L	IQDF +0.04 points	0.17%	0.21%
Gsk PLCGSK.L	DIVI +0.03 points	0.65%	0.62%
Sgs Sa-Reg	DIVI +0.04 points	0.31%	0.27%
Daiwa Securities Group In	IQDF +0.04 points	0.20%	0.24%
Telstra Group Ltd	IQDF +0.03 points	0.18%	0.21%
Link Reit	IQDF +0.03 points	0.19%	0.22%
Origin Energy Ltd	IQDF +0.02 points	0.22%	0.24%
Hong Kong & China Gas	IQDF +0.03 points	0.15%	0.18%
Finecobank Spa	IQDF +0.02 points	0.14%	0.16%
Julius Baer Group Ltd	IQDF +0.01 points	0.22%	0.23%

All DIVI holdings⁠All 255 IQDF holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DIVI vs IQDF Cost

Overpaying IQDF vs DIVI

$7,520

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

DIVI 0.09%
$1,898
IQDF 0.47%
$9,418

Amount$10,000

Years30 years

Cost over time

DIVI 0.09%
IQDF 0.47%
Overpaying

Year by year

Year	DIVI	IQDF	Overpaying
10	$165	$847	$682
20	$646	$3,261	$2,615
30	$1,898	$9,418	$7,520

Expense ratio

0.09%DIVI, cheaper
0.47%IQDF

DIVI0.09%IQDF0.47%

0.07%0.60%

Middle half of International Dividend Index funds
Median 0.49%

DIVI 4th cheapest of 34 funds

IQDF 13th cheapest of 34 funds

DIVI vs IQDF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DIVI 3.72%, better; IQDF 3.53%
Payout (12M): DIVI $1.57; IQDF $1.19
Last payment: DIVI $0.21; IQDF $0.43
Ex-dividend: DIVI Sep 18, 2026; IQDF Sep 18, 2026
Paid on: DIVI Sep 25, 2026; IQDF Sep 24, 2026
Frequency: DIVI Quarterly; IQDF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DIVIQuarterly · 28 paymentsAll DIVI payments⁠

IQDFQuarterly · 38 paymentsAll IQDF payments⁠

DIVI vs IQDF Risk

Fall from peak · 5 years

DIVI
IQDF

Risk facts

VolatilityStd dev, 3 years: DIVI 11.6%IQDF 10.9%, better
Return per unit of riskSharpe ratio, 3 years: DIVI 1.30IQDF 1.62, better
Worst fallMax drawdown, 5 years: DIVI −18.5%, betterIQDF −29.1%
Market sensitivityBeta, 5 years: DIVI 0.93IQDF 0.81; Market = 1

DIVI and IQDF in the news

All news⁠

ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026DIVI

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DIVI vs IQDF

In short

Stated mandate

Why people hold it

Worth knowing

How DIVI and IQDF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVI

Only in IQDF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files two enhanced ETFs to absorb its international core funds

How DIVI and IQDF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVI

Only in IQDF

Weight gaps