IDHQ vs QLVD

IDHQBInvesco S&P International Developed Quality ETF

QLVDANorthern Trust Developed Markets ex-US Quality Low Volatility ETF

In short

IDHQ One of the longest-running international quality funds: since 2007 it has held the developed ex-US names scoring highest on return on equity, accruals and leverage, for a fee below the typical international-factor rate.

QLVD A defensive route into developed markets outside the US: drop the weakest quality quintile first, then build the low-volatility portfolio with limits on sector and country drift. Fee is 0.12%, net of a waiver through March 1, 2027.

Stated mandate

IDHQ The Fund seeks to track, before fees and expenses, the investment results of the S&P Quality Developed ex-U.S. LargeMidCap Index. It uses an index-based strategy focused on international developed-market equities selected for quality.

QLVD The fund is designed to provide exposure to developed-market companies outside the United States that have lower absolute volatility and financial strength and stability, the characteristics the issuer associates with quality.

Why people hold it

• IDHQ Quality is defined, not vibes: return on equity, accruals ratio and financial leverage ratio, applied to the top slice of the developed ex-US large- and mid-cap universe.spglobal.cominvesco.com
• 0.29% a year runs below the typical fee in its international-factor group, and the fund has tracked its index closely.
• Running since 2007, with a live record through the financial crisis and everything since. The screen refreshes on a set schedule each June and December.invesco.com
• Country, sector and single-stock caps keep the quality screen from turning the portfolio into one concentrated country or sector bet.spglobal.comprnewswire.com

• QLVD Cheapest in its peer group at 0.12% (net of a waiver through March 1, 2027, against a 0.15% gross fee), versus 0.30% for IQLT, 0.29% for IDHQ and 0.27% for DIHP, none of which are running a waiver.
• Quality is the gate, not a tilt: companies are scored on profitability, management efficiency and cash flow, and the bottom quintile is cut before the low-volatility portfolio gets built.flexshares.com
• The index caps how far it can wander from the broad market on sectors, industry groups, countries and regions, and strips out style bets other than volatility. A check on the pileups plain low-vol screens can create.flexshares.com
• Roughly 200 large and mid-cap names across developed markets, rebuilt on a quarterly schedule, and one of the stronger implementations among the international quality funds we grade. Pays quarterly.sec.gov

Worth knowing

• IDHQ Roughly 200 stocks from a much wider developed ex-US universe, so its country and sector mix can sit far from the standard international benchmark.spglobal.com
• Cohort peers EFAV and ACWV target minimum volatility. This one screens for quality only and makes no attempt to damp market swings.
• A mid-size, moderately traded fund rather than a giant of the category, so order size and spreads matter more than with the biggest names.

• QLVD Thinly traded for its category, so bid-ask spreads can run wider than in the category's heavyweights and bigger orders may take more work to fill.
• The 0.12% is net of a waiver dated to March 1, 2027; the gross fee is 0.15%, so cost can step up if that waiver is not renewed.
• Modest asset base by category standards, and the fund holds a representative sample rather than every index name, which can open small gaps against the index.flexshares.com

Full IDHQ profile⁠

Full QLVD profile⁠