Skip to content

QLVE vs TLTE

Northern Trust Emerging Markets Quality Low Volatility ETF

QLVEBNYSE Arca

Northern Trust Morningstar Emerging Markets Factor Tilt ETF

TLTEDNYSE Arca

Overlap

Expense ratio

QLVE −0.39pt a year

QLVE0.18%TLTE0.57%

Avg volume · 30D

TLTE 16.0×the volume

QLVE408TLTE6.52K

5Y return · a year

QLVE +0.1pt

QLVE+6.7%TLTE+6.6%

QLVE vs TLTE Performance

Nov 9, 2021 – Nov 9, 2026

+38.1%QLVE+37.6%TLTE

Nov 9, 2021 to Nov 9, 2026. QLVE +38.1%. TLTE +37.6%. Use the arrow keys to read each point.−20%0%60%Nov 2021May 2024Nov 2026
Expense ratio
QLVE 0.18%, better
TLTE 0.57%
Fund size
QLVE $16M
TLTE $312M
1Y total return
QLVE +11.4%
TLTE +13.2%, better
Yield (12M)
QLVE 3.19%
TLTE 3.57%, better
Holdings
QLVE 156
TLTE 2943
Avg volume (30D)
QLVE 408 sh
TLTE 6.52K sh, better
NAV per share
QLVE $31.25
TLTE $67.89
52W range

ETF.net Grade

QLVE: Cost 100, Risk 71, Mission 93, Tradability 13, Holdings 32, Durability 33. TLTE: Cost 16, Risk 44, Mission 100, Tradability 27, Holdings 57, Durability 63.
Pillar letters and Scores for QLVE, TLTE, with each pillar’s weight
PillarQLVETLTE
Cost30% weightA100HigherF16
Mission25% weightA93A100Higher
Risk15% weightA71HigherC44
Tradability15% weightF13D27Higher
Holdings10% weightD32B57Higher
Durability5% weightD33B63Higher

Rank among Emerging Markets Multifactor funds

Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. QLVE and TLTE are both graded against the same 20 Emerging Markets Multifactor funds, so their Grades compare head to head.

See all 20 ›

QLVE ranks 5th and TLTE 17th of 20 funds in the Emerging Markets Multifactor Category.

  1. Rank 5BJPEMJPMorgan Diversified Return Emerging Markets Equity ETFScore 63
  2. Rank 5BQLVENorthern Trust Emerging Markets Quality Low Volatility ETFScore 63
  3. Rank 8BROAMHartford Multifactor Emerging Markets ETFScore 61
  4. Rank 17DFEMSFirst Trust Emerging Markets Small Cap AlphaDEX FundScore 32
  5. Rank 17DTLTENorthern Trust Morningstar Emerging Markets Factor Tilt ETFScore 32
  6. Rank 19DFTHFFirst Trust Emerging Markets Human Flourishing ETFScore 26
  7. VEEMNot yet graded

Our read on each fund

ETF.net Research

QLVEBNorthern Trust Emerging Markets Quality Low Volatility ETF

TLTEDNorthern Trust Morningstar Emerging Markets Factor Tilt ETF

In short

QLVE Most emerging-markets factor funds chase value. QLVE goes the other way: cut the weakest fifth on quality, then optimize what is left toward lower volatility. Cost is 0.18% net of a waiver through March 1, 2027.

TLTE Most emerging-market factor funds cut the universe down to a few hundred names. TLTE keeps roughly 3,000 stocks and simply leans the weights toward small-cap and value. A tilt, not a screen.

Stated mandate

QLVE The Fund is designed for investors seeking emerging-markets exposure with an emphasis on quality and low volatility. It seeks to match, before fees and expenses, the performance of the Northern Trust Emerging Markets Quality Low Volatility Index.

TLTE The Fund seeks to track the price and yield performance of the Morningstar Emerging Markets Factor Tilt Index, providing exposure to emerging-market stocks with an emphasis on small-capitalization and value characteristics.

Why people hold it

  • QLVE At 0.18% net of a waiver through March 1, 2027, it undercuts every top-scoring fund in its peer group, including EMGF at 0.26% and FDEM at 0.25%.
  • The index cuts the lowest-quality fifth of emerging-markets large and mid caps on profitability, cash flow and capital deployment, then optimizes the rest for lower volatility.flexshares.comnortherntrust.com
  • Sector, industry and country weights are held within set bands of the parent benchmark and turnover is capped near 12% a rebalance, curbing the sector drift low-vol screens invite.northerntrust.comsec.gov
  • Sits in the upper half of its emerging-markets factor peer group and has stayed close to its stated index.
  • TLTE A tilt, not a screen: it holds roughly 3,000 emerging-market stocks and overweights the small-cap and value ones rather than cutting names out of the portfolio.sec.gov
  • Morningstar sorts each stock into one of 12 size-and-style boxes, then tilts the weights. Published rules, semi-annual reconstitution, no manager hunches.sec.govflexshares.com
  • Label and portfolio line up: broad emerging-market equity with the advertised small-cap and value lean, and it pays quarterly.
  • Live since 2012, which makes it one of the longer-running factor-tilt options in emerging markets.flexshares.com

Worth knowing

  • QLVE Thinly traded with a small asset base, so spreads can run wider than the category heavyweights and limit orders matter more.
  • Roughly 160 holdings with meaningful weight in the largest names, so it is more top-heavy than a broad emerging-markets index fund.
  • Lower volatility is the design goal, not an outcome the fund controls: the index aims to be calmer than its parent, and the fund tracks it either way.sec.govflexshares.com
  • TLTE Cost is the trade-off: 0.57% net of a waiver through March 1, 2027 (0.58% gross), above the category median. EMGF charges 0.26% and FDEM 0.25%.
  • Thinly traded, so spreads can run wider than at the category's headline names and size orders can nudge the price.
  • Leaning into small and micro caps stacks extra volatility and liquidity risk on top of the usual currency and single-country swings, as the prospectus spells out.sec.gov

Full QLVE profile⁠

Full TLTE profile⁠

QLVE vs TLTE 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.

QLVE vs TLTE Cost

Overpaying TLTE vs QLVE

$7,522

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

  • QLVE 0.18%

    $3,749

  • TLTE 0.57%

    $11,271

$10,000
30 years

Cost over time

  • QLVE 0.18%
  • TLTE 0.57%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530TLTE $11,271QLVE $3,749

Year by year

YearQLVETLTEOverpaying
10$328$1,023$695
20$1,281$3,921$2,640
30$3,749$11,271$7,522

Expense ratio

  • 0.18%QLVE, cheaper
  • 0.57%TLTE
  • Middle half of Emerging Markets Multifactor funds
  • Median 0.44%

QLVE cheapest of 20 funds

TLTE 17th cheapest of 20 funds

QLVE vs TLTE Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
QLVE 3.19%
TLTE 3.57%, better
Payout (12M)
QLVE $1.02
TLTE $2.50
Last payment
QLVE $0.34
TLTE $0.58
Ex-dividend
QLVE Sep 18, 2026
TLTE Sep 18, 2026
Paid on
QLVE Sep 24, 2026
TLTE Sep 24, 2026
Frequency
QLVE Quarterly
TLTE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QLVEQuarterly · 26 paymentsAll QLVE payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Sep 20, 2019 $0.11; Dec 20, 2019 $0.23; Mar 20, 2020 $0.0066; Jun 19, 2020 $0.17; Sep 18, 2020 $0.24; Dec 18, 2020 $0.03; Jun 18, 2021 $0.18; Sep 17, 2021 $0.24; Dec 17, 2021 $0.25; Jun 17, 2022 $0.17; Sep 16, 2022 $0.32; Dec 16, 2022 $0.06; Mar 17, 2023 $0.06; Jun 16, 2023 $0.15; Sep 15, 2023 $0.40; Dec 15, 2023 $0.09; Jun 21, 2024 $0.16; Sep 20, 2024 $0.09; Dec 20, 2024 $0.52; Mar 21, 2025 $0.09; Jun 20, 2025 $0.20; Sep 19, 2025 $0.21; Dec 19, 2025 $0.43; Dec 24, 2025 $0.0056; Jun 18, 2026 $0.24; Sep 18, 2026 $0.34. Use the arrow keys to read each point.$0$12017202020232026YTD
TLTEQuarterly · 34 paymentsAll TLTE payments⁠
One bar per payment. 34 payments from 2017 to 2026 YTD. Jun 19, 2017 $0.22; Sep 18, 2017 $0.68; Dec 21, 2017 $0.36; Mar 19, 2018 $0.09; Jun 18, 2018 $0.37; Sep 24, 2018 $0.75; Dec 21, 2018 $0.23; Mar 15, 2019 $0.03; Jun 21, 2019 $0.49; Sep 20, 2019 $0.71; Dec 20, 2019 $0.49; Mar 20, 2020 $0.07; Jun 19, 2020 $0.41; Sep 18, 2020 $0.46; Dec 18, 2020 $0.20; Mar 19, 2021 $0.10; Jun 18, 2021 $0.35; Sep 17, 2021 $0.52; Dec 17, 2021 $0.93; Mar 18, 2022 $0.06; Jun 17, 2022 $0.55; Sep 16, 2022 $0.82; Dec 16, 2022 $0.63; Jun 16, 2023 $0.27; Sep 15, 2023 $0.58; Dec 15, 2023 $1.20; Jun 21, 2024 $0.06; Sep 20, 2024 $0.22; Dec 20, 2024 $1.62; Jun 20, 2025 $0.18; Sep 19, 2025 $0.57; Dec 19, 2025 $1.64; Jun 18, 2026 $0.28; Sep 18, 2026 $0.58. Use the arrow keys to read each point.$0$12017202020232026YTD

QLVE vs TLTE Risk

Fall from peak · 5 years

  • QLVE
  • TLTE
Nov 9, 2021 to Nov 9, 2026. Worst fall: TLTE −29.5% · Oct 2022. Use the arrow keys to read each point.−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
QLVE 11.0%, betterTLTE 15.3%
Return per unit of riskSharpe ratio, 3 years
QLVE 1.11, betterTLTE 0.93
Worst fallMax drawdown, 5 years
QLVE −23.6%, betterTLTE −29.5%
Market sensitivityBeta, 5 years
QLVE 0.83TLTE 1.05

Popular comparisons

  • QLVEBvsEMGFA

    Northern Trust Emerging Markets Quality Low Volatility ETF · iShares Emerging Markets Equity Factor ETF

    Expense ratio
    0.18% · 0.26%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.
  • TLTEDvsEMGFA

    Northern Trust Morningstar Emerging Markets Factor Tilt ETF · iShares Emerging Markets Equity Factor ETF

    Expense ratio
    0.57% · 0.26%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.
  • QLVEBvsAVESA

    Northern Trust Emerging Markets Quality Low Volatility ETF · Avantis Emerging Markets Value ETF

    Expense ratio
    0.18% · 0.36%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.
  • TLTEDvsAVESA

    Northern Trust Morningstar Emerging Markets Factor Tilt ETF · Avantis Emerging Markets Value ETF

    Expense ratio
    0.57% · 0.36%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.
  • QLVEBvsFDEMA

    Northern Trust Emerging Markets Quality Low Volatility ETF · Fidelity Emerging Markets Multifactor ETF

    Expense ratio
    0.18% · 0.25%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.
  • TLTEDvsFDEMA

    Northern Trust Morningstar Emerging Markets Factor Tilt ETF · Fidelity Emerging Markets Multifactor ETF

    Expense ratio
    0.57% · 0.25%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.