ESMV vs QLV

ESMVCiShares ESG Optimized MSCI USA Min Vol Factor ETF

QLVANorthern Trust US Quality Low Volatility ETF

In short

ESMV Minimum volatility with an ESG conscience. ESMV runs MSCI's low-vol optimizer across US large and mid caps, then pushes the result toward better ESG characteristics and lower carbon than the parent index, for 0.18% a year.

QLV Low vol with a quality gate: the index cuts the weakest-scoring fifth of US large and mid caps, then optimizes what's left for calm. Fee is 0.08% net of a waiver through March 1, 2027.

Stated mandate

ESMV The Fund seeks to track an index of U.S. large- and mid-capitalization equities designed to have lower volatility, reduced carbon exposure, and improved environmental, social, and governance characteristics relative to the parent index.

QLV The fund seeks to track the Northern Trust Quality Low Volatility Index and provide exposure to U.S. companies selected for lower overall volatility and quality characteristics.

Why people hold it

• ESMV 0.18% a year, which undercuts what the typical US factor fund in its peer group charges.
• Two mandates in one ticker: MSCI's minimum volatility optimization plus ESG and reduced-carbon constraints measured against the MSCI USA parent index.ishares.com
• Roughly 160 US large and mid caps, chosen by published index rules rather than a manager's hunch, with cash paid out quarterly.
• Lands in the upper half of the US factor funds we grade, on the strength of its cheap fee and broad, diversified book.

• QLV The quality screen is the point: stocks are ranked on profitability, management efficiency and cash flow, and the bottom fifth is cut before the volatility work starts.sec.gov
• 0.08% net of a waiver through March 1, 2027: below the category median, and under USMV at 0.15% and LGLV at 0.12%.
• Sector, industry and single-stock limits inside the optimization push back on the utilities-and-staples pileup typical of low vol. Roughly 120 holdings.sec.gov
• Sits in the top quartile of its US low volatility peer group, and pays quarterly.

Worth knowing

• ESMV One of the lighter-traded names in its factor cohort, so bid-ask spreads can run wider than at the category's household-name funds.
• Minimum volatility aims to dampen swings, not to prevent losses, and stacking an ESG and carbon screen on top pulls the portfolio further from plain US beta.
• Launched in 2021, so its live record covers a shorter stretch than the older min-vol funds it competes with.

• QLV One of the less-traded funds in the category, so the bid-ask spread can matter more at the point of trade than the expense ratio.
• Assets stay modest next to the category's multi-billion-dollar incumbents.
• Low volatility here is relative, not absolute: the aim is calmer than the Northern Trust 1250 parent index, not shelter from a broad selloff.sec.gov

Full ESMV profile⁠

Full QLV profile⁠