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QLV vs VFMV

Northern Trust US Quality Low Volatility ETF

QLVANYSE Arca

Vanguard U.S. Minimum Volatility ETF

VFMVBCboe

Overlap

Expense ratio

QLV −0.05pt a year

QLV0.08%VFMV0.13%

Avg volume · 30D

VFMV 1.7×the volume

QLV8.88KVFMV15.2K

5Y return · a year

QLV +0.6pt

QLV+9.8%VFMV+9.2%

QLV vs VFMV Performance

Nov 5, 2021 – Nov 5, 2026

+59.7%QLV+55.4%VFMV

Nov 5, 2021 to Nov 5, 2026. QLV +59.7%. VFMV +55.4%. Use the arrow keys to read each point.0%20%40%Nov 2021May 2024Nov 2026
Expense ratio
QLV 0.08%, better
VFMV 0.13%
Fund size
QLV $193M
VFMV $460M
1Y total return
QLV +15.5%, better
VFMV +14.8%
Yield (12M)
QLV 1.45%
VFMV 1.58%, better
Holdings
QLV 123
VFMV 222
Avg volume (30D)
QLV 8.88K sh
VFMV 15.2K sh, better
NAV per share
QLV $83.06
VFMV $149.97
52W range

ETF.net Grade

QLV: Cost 100, Risk 85, Mission 76, Tradability 67, Holdings 33, Durability 31. VFMV: Cost 80, Risk 81, Mission 19, Tradability 40, Holdings 55, Durability 62.
Pillar letters and Scores for QLV, VFMV, with each pillar’s weight
PillarQLVVFMV
Cost30% weightA100HigherA80
Mission25% weightA76HigherF19
Risk15% weightA85HigherA81
Tradability15% weightB67HigherC40
Holdings10% weightD33B55Higher
Durability5% weightD31B62Higher

Rank among US Low Volatility Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. QLV and VFMV 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 ›

QLV ranks 2nd and VFMV 9th of 16 funds in the US Low Volatility Index Category.

  1. Rank 1ALGLVState Street SPDR US Large Cap Low Volatility Index ETFScore 79
  2. Rank 2AQLVNorthern Trust US Quality Low Volatility ETFScore 76
  3. Rank 3AUSMViShares MSCI USA Min Vol Factor ETFScore 75
  4. Rank 8BSPLVInvesco S&P 500 Low Volatility ETFScore 56
  5. Rank 9BVFMVVanguard U.S. Minimum Volatility ETFScore 55
  6. Rank 10CCFAVictoryShares US 500 Volatility Wtd ETFScore 48

Our read on each fund

ETF.net Research

QLVANorthern Trust US Quality Low Volatility ETF

VFMVBVanguard U.S. Minimum Volatility ETF

In short

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.

VFMV No index here. Vanguard's quant desk builds this one itself, running a rules-based model over large, mid and small caps to assemble the mix expected to wobble least as a portfolio, not just the calmest names one by one.

Stated mandate

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.

VFMV The fund invests in a diversified portfolio of U.S. stocks intended to have lower volatility than the broad U.S. equity market, while seeking long-term capital appreciation.

Why people hold it

  • 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.
  • VFMV 0.13% a year undercuts the typical fund in the US low-volatility group.
  • Fishes the whole US market, large, mid and small caps, and lands on roughly 180 names instead of a mega-cap-only defensive sleeve.vanguard.comvanguard.com 2
  • The model targets the portfolio's total expected volatility, so it accounts for how holdings move together rather than ranking individually calm stocks.vanguard.comvanguard.com 2
  • Run by Vanguard's Quantitative Equity Group since the 2018 launch, with a rules-based screen for diversification and for trimming less liquid stocks.vanguard.com

Worth knowing

  • 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
  • VFMV Active, with no published index behind it. Low volatility is whatever the advisor's model says it is, so holdings can look quite different from index-built rivals like USMV.vanguard.com
  • One of the smaller and thinner-traded funds in the low-vol aisle, so limit orders earn their keep on larger trades.
  • Minimum volatility aims to damp swings, not to sidestep losses. It stays fully invested in stocks, and defensive names behave differently from the broad market in both directions.vanguard.com

Full QLV profile⁠

Full VFMV profile⁠

QLV vs VFMV 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.

QLV vs VFMV Cost

Overpaying VFMV vs QLV

$1,037

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

  • QLV 0.08%

    $1,689

  • VFMV 0.13%

    $2,726

$10,000
30 years

Cost over time

  • QLV 0.08%
  • VFMV 0.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K051015202530VFMV $2,726QLV $1,689

Year by year

YearQLVVFMVOverpaying
10$147$238$91
20$575$930$355
30$1,689$2,726$1,037

Expense ratio

  • 0.08%QLV, cheaper
  • 0.13%VFMV
  • Middle half of US Low Volatility Index funds
  • Median 0.20%

QLV cheapest of 16 funds

VFMV 4th cheapest of 16 funds

QLV vs VFMV Dividends

Last 12 months to Nov 5, 2026
Yield (12M)
QLV 1.45%
VFMV 1.58%, better
Payout (12M)
QLV $1.18
VFMV $2.30
Last payment
QLV $0.28
VFMV $0.34
Ex-dividend
QLV Sep 18, 2026
VFMV Sep 23, 2026
Paid on
QLV Sep 24, 2026
VFMV Sep 25, 2026
Frequency
QLV Quarterly
VFMV Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

QLVQuarterly · 30 paymentsAll QLV payments⁠
One bar per payment. 30 payments from 2018 to 2026 YTD. Sep 20, 2019 $0.08; Dec 20, 2019 $0.16; Mar 20, 2020 $0.12; Jun 19, 2020 $0.12; Sep 18, 2020 $0.13; Dec 18, 2020 $0.20; Mar 19, 2021 $0.11; Jun 18, 2021 $0.14; Sep 17, 2021 $0.13; Dec 17, 2021 $0.16; Mar 18, 2022 $0.15; Jun 17, 2022 $0.18; Sep 16, 2022 $0.22; Dec 16, 2022 $0.33; Mar 17, 2023 $0.14; Jun 16, 2023 $0.24; Sep 15, 2023 $0.19; Dec 15, 2023 $0.30; Dec 22, 2023 $0.02; Mar 15, 2024 $0.17; Jun 21, 2024 $0.30; Sep 20, 2024 $0.25; Dec 20, 2024 $0.35; Mar 21, 2025 $0.23; Jun 20, 2025 $0.28; Sep 19, 2025 $0.29; Dec 19, 2025 $0.36; Mar 20, 2026 $0.23; Jun 18, 2026 $0.31; Sep 18, 2026 $0.28. Use the arrow keys to read each point.$0$1202020232026YTD
VFMVQuarterly · 34 paymentsAll VFMV payments⁠
One bar per payment. 34 payments from 2018 to 2026 YTD. Jun 28, 2018 $0.53; Sep 26, 2018 $0.35; Dec 19, 2018 $0.82; Mar 21, 2019 $0.41; Jun 21, 2019 $0.55; Sep 16, 2019 $0.43; Dec 20, 2019 $0.84; Mar 23, 2020 $0.31; Jun 29, 2020 $0.52; Sep 21, 2020 $0.36; Dec 24, 2020 $0.73; Mar 22, 2021 $0.12; Jun 29, 2021 $0.16; Sep 24, 2021 $0.66; Dec 27, 2021 $0.45; Mar 21, 2022 $0.42; Jun 29, 2022 $0.42; Sep 23, 2022 $0.47; Dec 22, 2022 $0.74; Mar 23, 2023 $0.73; Jun 23, 2023 $0.53; Sep 21, 2023 $0.42; Dec 19, 2023 $0.62; Mar 21, 2024 $0.37; Jun 27, 2024 $0.39; Sep 26, 2024 $0.43; Dec 23, 2024 $0.57; Mar 25, 2025 $0.50; Jun 20, 2025 $0.62; Sep 24, 2025 $0.55; Dec 23, 2025 $1.09; Mar 24, 2026 $0.46; Jun 24, 2026 $0.41; Sep 23, 2026 $0.34. Use the arrow keys to read each point.$0$1202020232026YTD

QLV vs VFMV Risk

Fall from peak · 5 years

  • QLV
  • VFMV
Nov 5, 2021 to Nov 5, 2026. Worst fall: QLV −17.9% · Oct 2022. Use the arrow keys to read each point.−15%−10%−5%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
QLV 8.6%, betterVFMV 9.8%
Return per unit of riskSharpe ratio, 3 years
QLV 1.56, betterVFMV 1.26
Worst fallMax drawdown, 5 years
QLV −17.9%VFMV −15.4%, better
Market sensitivityBeta, 5 years
QLV 0.58VFMV 0.55

Popular comparisons

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