LGLV vs QLV: Grades, Fees and Holdings Compared

State Street SPDR US Large Cap Low Volatility Index ETF

LGLVANYSE Arca

Northern Trust US Quality Low Volatility ETF

QLVANYSE Arca

Overlap

26.2%by weight

Expense ratio

QLV −0.04pt a year

LGLV0.12%QLV0.08%

Avg volume · 30D

LGLV 3.0×the volume

LGLV26.6KQLV8.83K

5Y return · a year

QLV +2.5pt

LGLV+7.8%QLV+10.3%

LGLV vs QLV Performance

Oct 29, 2021 – Oct 30, 2026

+45.7%LGLV+63.3%QLV

Expense ratio: LGLV 0.12%; QLV 0.08%, better
Fund size: LGLV $1.2B; QLV $189M
1Y total return: LGLV +11.7%; QLV +17.0%, better
Yield (12M): LGLV 2.06%, better; QLV 1.43%
Holdings: LGLV 174; QLV 122
Avg volume (30D): LGLV 26.6K sh, better; QLV 8.83K sh
NAV per share: LGLV $187.96; QLV $82.16
52W range

ETF.net Grade

Pillar letters and Scores for LGLV, QLV, with each pillar’s weight
Pillar	LGLV	QLV
Cost30% weight	A90	A100Higher
Mission25% weight	A93Higher	A76
Risk15% weight	C44	A86Higher
Tradability15% weight	A82Higher	B67
Holdings10% weight	C52Higher	D34
Durability5% weight	A74Higher	D31

Rank among US Low Volatility Index funds

How we build Categories ›

Same Category. LGLV and QLV are both graded against the same 16 US Low Volatility Index funds, so their Grades compare head to head.

US Low Volatility Index⁠

Category · 16 funds

See all 16 ›

LGLV ranks 1st and QLV 2nd of 16 funds in the US Low Volatility Index Category.

Rank 1ALGLVState Street SPDR US Large Cap Low Volatility Index ETFScore 78
Rank 2AQLVNorthern Trust US Quality Low Volatility ETFScore 76
Rank 3AUSMViShares MSCI USA Min Vol Factor ETFScore 75

Our read on each fund

ETF.net Research

LGLVAState Street SPDR US Large Cap Low Volatility Index ETF

QLVANorthern Trust US Quality Low Volatility ETF

In short

LGLV Most low-vol funds run an optimizer. LGLV just ranks the biggest 1,000 US stocks by how calm they have been and gives the quietest ones the heaviest weights, for 0.12% 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

LGLV The fund is designed to provide exposure to U.S. large-capitalization equities selected through a low-volatility index strategy.

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

LGLV 0.12% a year, below the typical US low-vol fund (cohort median 0.20%) and under USMV's 0.15%.
The rules fit in one sentence: screen the largest 1,000 US stocks, weight the calmest heaviest, subject to liquidity limits. No black box.ssga.com
Running since 2013 and tracking its index tightly, it rates as one of the stronger builds in the US low-vol group.

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

LGLV Weighting by volatility alone means the sector mix can lean hard into whatever is quiet (often utilities and staples) and look nothing like the S&P 500.ssga.com
Trades lighter than the category's household names, so spreads can be wider. Limit orders matter more here.
Low volatility is not low risk: this is a fully invested stock fund and it can move very differently from the broad market.ssga.com

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 LGLV profile⁠

Full QLV profile⁠

LGLV vs QLV Holdings

How LGLV and QLV differ

Overlap by weight

26.2%

Shared holdings make up 53.6% of QLV and 32.3% of LGLV.

Level by level

Holdings45 in both26.2%
Sector11 Sectors59.3%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in LGLV and QLV, widest gap first
Sector	More in LGLVMore in QLV	LGLV	QLV
Technology	QLV +25.6 points	6.6%	32.2%
Industrials	LGLV +15.9 points	21.6%	5.7%
Real Estate	LGLV +14.7 points	16.0%	1.3%
Health Care	QLV +5.8 points	7.9%	13.7%
Utilities	LGLV +5.5 points	11.2%	5.7%
Materials	LGLV +4.6 points	5.3%	0.7%
Energy	QLV +3.7 points	3.5%	7.2%
Communication	QLV +2.6 points	3.9%	6.5%
Consumer Staples	QLV +1.9 points	6.2%	8.1%
Consumer Discretionary	QLV +0.6 points	6.2%	6.8%
Financials	QLV +0.6 points	11.5%	12.1%

Country, concentration and asset class

Country by domicile

Country weights in LGLV and QLV, widest gap first
Country	More in LGLVMore in QLV	LGLV	QLV
United States	LGLV +0.2 points	97.4%	97.2%
Switzerland	LGLV +0.2 points	0.9%	0.7%
United Kingdom	LGLV +0.2 points	0.7%	0.5%
Canada	Same weight	0.6%	0.6%
Israel	QLV +0.2 points	0.4%	0.6%
China	QLV +0.3 points	0.0%	0.3%

Concentration

Weight in the 10 largest Holdings

LGLV15.8%
QLV35.9%

Securities held

LGLV172
QLV119

Asset class

LGLV: Equity
QLV: Equity

Holdings

Only in LGLV127
In both45
Only in QLV74

Only in LGLV

127 securities, 67.6% of LGLV by weight

Welltower Inc4.37%
Realty Income Corp1.62%
Vivmark Residential1.44%
Public Service Enterprise Gp1.11%
Marsh & Mclennan Cos0.98%
Cisco Systems Inc0.97%
Colgate Palmolive Co0.94%
Chubb Ltd0.92%
Becton Dickinson and Co0.90%
Automatic Data Processing0.89%
Aflac Inc0.85%
Centerpoint Energy Inc0.84%
Republic Services Inc0.84%
Linde PLC0.83%
Firstenergy Corp0.83%
Willis Towers Watson PLC0.82%
Vici Properties Inc0.80%
Paychex Inc0.77%
Ecolab Inc0.76%
Kinder Morgan Inc0.75%
Ametek Inc0.74%
Waste Management Inc0.70%
Markel Group Inc0.70%
Walmart Inc0.69%
Amphenol Corp Class A0.69%
Packaging Corp of America0.67%
Amcor PLC0.66%
Nisource Inc0.65%
Cms Energy Corp0.65%
Abbott Laboratories0.64%
Restaurant Brands Intern0.63%
Danaher Corp0.63%
Cintas Corp0.63%
Williams Cos Inc0.63%
Fortive Corp0.62%
Broadridge Financial Solutio0.61%
Wabtec Corp0.61%
Motorola Solutions Inc0.60%
Union Pacific Corp0.60%
Liberty Media Corp C0.59%
Loews Corp0.58%
Medtronic PLC0.58%
Udr Inc0.57%
Yum Brands Inc0.56%
Vulcan Materials Co0.56%
Fastenal Co0.55%
Illinois Tool Works0.54%
Jacobs Solutions Inc0.54%
Idex Corp0.54%
General Mills Inc0.54%

Only in QLV

74 securities, 45.2% of QLV by weight

NVIDIA Corp Common Stock USD 0.0015.83%
Amazon.com Inc Common Stock USD 0.012.27%
Broadcom Inc Common Stock USD1.64%
Eli Lilly and Company1.51%
Merck & Co Inc Common Stock USD 0.51.25%
Alphabet Inc-Cl C - Common Stock USD 0.0011.16%
Palo Alto Networks Inc Common Stock USD 0.00011.01%
Gilead Sciences Inc Common Stock USD 0.0010.97%
Progressive Corp/The Common Stock USD 10.96%
Chevron Corp Common Stock USD 0.750.92%
Cigna Group/The Common Stock USD 0.010.90%
Qualys Inc Common Stock USD 0.0010.89%
Meta Platforms Inc Common Stock USD 0.0000060.86%
International Business Machines Corporation0.86%
Conocophillips Common Stock USD 0.010.83%
International Seaways Inc Common Stock USD 00.82%
The Allstate Corporation0.81%
Texas Instruments Inc Common Stock USD 10.77%
Chemed Corp Common Stock USD 10.75%
Kraft Heinz Co/The Common Stock USD 0.010.72%
Chubb Ltd Common Stock USD 24.150.69%
Cirrus Logic Inc Common Stock USD 0.0010.69%
Hershey Co/The Common Stock USD 10.67%
Eog Resources Inc Common Stock USD 0.010.66%
Fti Consulting Inc Common Stock USD 0.010.58%
Everest Group Ltd Common Stock USD 0.010.58%
Agnico Eagle Mines Ltd Common Stock Cad 00.58%
Check Point Software Technologies Ltd Common Stock0.57%
Wec Energy Group Inc Common Stock USD 0.010.57%
Encompass Health Corp Common Stock USD 0.010.56%
Quest Diagnostics Inc Common Stock USD 0.010.55%
Coca-Cola Europacific Partners PLC Common Stock0.55%
Renaissancere Holdings Ltd Common Stock USD 10.54%
Assurant Inc Common Stock USD 0.010.54%
Targa Resources Corp Common Stock USD 0.0010.53%
W R Berkley Corporation0.53%
T-Mobile Us Inc Common Stock USD 0.00010.52%
Aercap Holdings NV Common Stock USD 0.010.49%
Tesla Inc Common Stock USD 0.0010.48%
Kla Corp Common Stock USD 0.0010.48%
Neurocrine Biosciences Inc Common Stock USD 0.0010.47%
Murphy Usa Inc Common Stock USD 0.010.47%
Landstar System Inc Common Stock USD 0.010.46%
Diamondback Energy Inc Common Stock USD 0.010.43%
Alliant Energy Corp Common Stock USD 0.010.43%
Micron Technology Inc Common Stock USD 0.10.43%
Pinnacle West Capital Corp Common Stock USD 00.39%
Netapp Inc Common Stock USD 0.0010.38%
Appfolio Inc Common Stock USD 0.00010.37%
Ptc Inc Common Stock USD 0.010.37%

Weight gaps

All 45 Holdings in both funds, largest gap first.

Holding weights in LGLV and QLV, widest gap first
Holding	More in LGLVMore in QLV	LGLV	QLV
Microsoft CorpMSFT	QLV +5.60 points	0.79%	6.39%
Apple IncAAPL	QLV +5.32 points	0.75%	6.07%
Johnson & JohnsonJNJ	QLV +3.24 points	1.06%	4.30%
Exxonmobil Holdings CorpXOM	QLV +1.99 points	0.61%	2.60%
Costco Wholesale CorpCOST	QLV +1.88 points	0.49%	2.37%
Visa Inc Class A SharesV	QLV +1.26 points	1.10%	2.36%
Alphabet Inc Class AGOOGL	QLV +1.21 points	0.32%	1.53%
AbbVie IncABBV	QLV +1.03 points	0.73%	1.76%
Berkshire Hathaway Inc Class BBRK.B	QLV +0.97 points	0.97%	1.94%
Mastercard Inc AMA	QLV +0.82 points	0.91%	1.73%
Royalty Pharma PLC Class ARPRX	LGLV +0.71 points	0.87%	0.16%
Amdocs LtdDOX	QLV +0.57 points	0.20%	0.77%
Lockheed Martin CorpLMT	QLV +0.56 points	0.40%	0.96%
Dolby Laboratories Inc Class ADLB	QLV +0.55 points	0.18%	0.73%
Southern Co/TheSO	LGLV +0.54 points	1.18%	0.64%
Cme Group IncCME	LGLV +0.51 points	1.13%	0.62%
Labcorp Holdings IncLH	LGLV +0.51 points	0.77%	0.26%
Duke Energy CorpDUK	LGLV +0.49 points	1.38%	0.89%
Cencora IncCOR	LGLV +0.46 points	0.52%	0.06%
General Dynamics CorpGD	LGLV +0.41 points	0.99%	0.58%
Darden Restaurants IncDRI	LGLV +0.41 points	0.77%	0.36%
Ameren CorporationAEE	LGLV +0.40 points	0.93%	0.53%
Travelers Cos Inc/TheTRV	LGLV +0.37 points	1.10%	0.73%
Procter & Gamble Co/ThePG	QLV +0.37 points	0.90%	1.27%
Consolidated Edison IncED	LGLV +0.34 points	1.19%	0.85%
Pepsico IncPEP	QLV +0.32 points	0.94%	1.26%
Hanover Insurance Group Inc/THG	QLV +0.30 points	0.25%	0.55%
Roper Technologies IncROP	LGLV +0.27 points	0.88%	0.61%
Tjx Companies IncTJX	QLV +0.26 points	0.58%	0.84%
Cheniere Energy IncLNG	LGLV +0.23 points	0.90%	0.67%
Verisign IncVRSN	QLV +0.22 points	0.64%	0.86%
Rtx CorpRTX	QLV +0.21 points	0.52%	0.73%
Northrop Grumman CorpNOC	QLV +0.19 points	0.38%	0.57%
At+t IncT	QLV +0.19 points	0.37%	0.56%
Home Depot IncHD	LGLV +0.16 points	0.42%	0.26%
Snap On IncSNA	QLV +0.17 points	0.52%	0.69%
Dte Energy CompanyDTE	LGLV +0.10 points	0.85%	0.75%
Verizon Communications IncVZ	QLV +0.10 points	0.59%	0.69%
Evergy IncEVRG	LGLV +0.06 points	0.59%	0.53%
Essex Property Trust IncESS	LGLV +0.07 points	0.54%	0.47%
Omega Healthcare InvestorsOHI	QLV +0.05 points	0.42%	0.47%
Autozone IncAZO	QLV +0.04 points	0.42%	0.46%
Agree Realty CorpADC	QLV +0.04 points	0.24%	0.28%
McDonald’s CorpMCD	LGLV +0.03 points	0.75%	0.72%
Coca Cola Co/TheKO	Same weight	1.23%	1.23%

All 172 LGLV holdings⁠All 123 QLV 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.

LGLV vs QLV Cost

Overpaying LGLV vs QLV

$831

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

LGLV 0.12%
$2,520
QLV 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

LGLV 0.12%
QLV 0.08%
Overpaying

Year by year

Year	LGLV	QLV	Overpaying
10	$220	$147	$73
20	$859	$575	$284
30	$2,520	$1,689	$831

Expense ratio

0.12%LGLV
0.08%QLV, cheaper

QLV0.08%LGLV0.12%

0.08%0.35%

Middle half of US Low Volatility Index funds
Median 0.20%

QLV cheapest of 16 funds

LGLV 2nd cheapest of 16 funds

LGLV vs QLV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): LGLV 2.06%, better; QLV 1.43%
Payout (12M): LGLV $3.88; QLV $1.18
Last payment: LGLV $0.99; QLV $0.28
Ex-dividend: LGLV Sep 21, 2026; QLV Sep 18, 2026
Paid on: LGLV Sep 23, 2026; QLV Sep 24, 2026
Frequency: LGLV Quarterly; QLV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

LGLVQuarterly · 39 paymentsAll LGLV payments⁠

QLVQuarterly · 30 paymentsAll QLV payments⁠

LGLV vs QLV Risk

Fall from peak · 5 years

LGLV
QLV

Risk facts

VolatilityStd dev, 3 years: LGLV 11.8%QLV 8.6%, better
Return per unit of riskSharpe ratio, 3 years: LGLV 0.86QLV 1.56, better
Worst fallMax drawdown, 5 years: LGLV −17.5%, betterQLV −17.9%
Market sensitivityBeta, 5 years: LGLV 0.48QLV 0.58; Market = 1

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