IQDF
FlexShares International Quality Dividend Index Fund

Price: $25.06
Change: $0.24 (-0.01%)
Last Updated:

Vitals

Brand FlexShares
Structure ETF
Expense Ratio 0.47%
ETF Home Page Home page
Inception Apr 12, 2013

Analyst Report

The FlexShares International Quality Dividend Index Fund (IQDF) is part of Northern Trust’s stable of proprietary factor strategies. This one has an international flair. The fund follows a Northern Trust index that selects dividend-paying companies in developed and emerging markets outside the U.S. Simple enough, but then the index weights the portfolio toward companies that earned the highest “dividend quality” scores. To prevent unintentional concentrations, the methodology caps the weighting of individual securities, industry groups, sectors and regions. Lastly, the fund aims to match market beta — jargon used to describe how volatile performance is relative to the market. It’s another way of saying IQDF aims to be no more or less risky than the market.


Investors can be excused for confusing IQDF with its sister funds: The FlexShares International Quality Dividend Dynamic Index Fund (IQDY) and the FlexShares International Quality Dividend Defensive Index Fund (IQDE). Like FlexShares’ domestic variations on the same theme, the three funds are distinguished by their approach to market beta. IQDY aims for a little more risk than the market, IQDE for a little less, and IQDF tries to match it. In practice, all three funds share many of the same top holdings, including Royal Bank of Canada, GlaxoSmithKline and L’Oreal. The difference comes down to weighting, with IQDY leaning a little more on volatile tech stocks than IQDE and IQDF.


Many FlexShares funds charge a premium for the Northern Trust expertise, but the FlexShares international dividend ETFs are priced competitively. Still, they are multiples more expensive than plain-vanilla international equity ETFs. Is it worth it? Investors can look at it several different ways. There are other international factor strategies out there, like the Vident International Equity Fund (VIDI) or the highly-concentrated (and extremely expensive) First Trust Dorsey Wright International Focus 5 ETF. There are plenty of other international dividend ETFs like the WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL), the SPDR S&P International Dividend ETF (DWX), or the iShares International Select Dividend ETF (IDV). There are dividend-focused funds that mix U.S. and international exposure, like the SPDR S&P Global Dividend ETF (WDIV) and the GlobalX SuperDividend ETF (SDIV). Lastly, investors might want to compare returns and portfolio with an ultra-low-cost international index fund, like the iShares Core MSCI Total International Stock ETF (IXUS), which lacks fancy factors but offers more liquidity at a fraction of the price.

ETF Database Themes

Asset Class Equity
Asset Class Size Multi-Cap
Asset Class Style Blend
Region (General) Developed Markets
Region (Specific) Broad

FactSet Classifications

Segment Equity: Global Ex-U.S. - Total Market
Category Size and Style
Focus Total Market
Niche Broad-based
Strategy Multi-factor
Weighting Scheme Multi-Factor

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $21.41
  • 52 Week Hi $26.61
  • AUM $616.4 M
  • Shares 24.4 M

Historical Trading Data

  • 1 Month Avg. Volume 70,218
  • 3 Month Avg. Volume 44,715

Alternative ETFs in the ETF Database Foreign Large Cap Equities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SPDW 0.03% $21.3 B 2 M 7.15%
Largest (AUM) VEA 0.06% $139.2 B 9 M 6.76%
Most Liquid (Volume) EFA 0.35% $55.8 B 10 M 7.09%
Top YTD Performer DINT 0.66% $219.2 M 16,394 28.65%

Alternative ETFs in the FactSet Equity: Global Ex-U.S. - Total Market Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VEU 0.07% $40.1 B 2 M 9.01%
Largest (AUM) VXUS 0.08% $78.2 B 3 M 8.74%
Most Liquid (Volume) VXUS 0.08% $78.2 B 3 M 8.74%
Top YTD Performer DINT 0.66% $219.2 M 16,394 28.65%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

IQDF ETF Database Category Average FactSet Segment Average
Number of Holdings 214 789 1129
% of Assets in Top 10 16.52% 26.45% 45.54%
% of Assets in Top 15 21.74% 32.60% 53.55%
% of Assets in Top 50 49.49% 59.19% 83.28%

Size Comparison

IQDF ETF Database Category Average FactSet Segment Average
Large (>12.9B) 68.15% 68.84% 58.35%
Mid (>2.7B) 29.65% 20.68% 14.90%
Small (>600M) 0.95% 2.66% 2.06%
Micro (<600M) 0.00% 0.21% 0.15%

IQDF Valuation

This section compares the P/E ratio of this ETF to its peers.

IQDF
P/E Ratio
14.77
ETF Database Category Average
P/E Ratio
10.40
FactSet Segment Average
P/E Ratio
5.87

IQDF Dividend

This section compares the dividend yield of this ETF to its peers.

IQDF ETF Database Category Average FactSet Segment Average
Dividend $ 0.23 $ 0.45 $ 0.26
Dividend Date 2024-09-20 N/A N/A
Annual Dividend Rate $ 1.19 $ 1.27 $ 0.71
Annual Dividend Yield 4.70% 3.13% 1.88%

IQDF Price and Volume Charts

View charts featuring IQDF price and volume data.

IQDF Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 2.49 M 1 Month Net Flows: 14.77 M 3 Month Net Flows: 22.36 M 6 Month Net Flows: 22.14 M 1 Year Net Flows: 15.67 M 3 Year Net Flows: 17.47 M 5 Year Net Flows: -184.23 M 10 Year Net Flows: 333.26 M

IQDF Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

5 Day Net AUM Change: 14.96 M
1 Month Net AUM Change: 14.63 M
3 Month Net AUM Change: 16.96 M
6 Month Net AUM Change: 15.55 M
1 Year Net AUM Change: 74.36 M
3 Year Net AUM Change: 9.34 M
5 Year Net AUM Change: -178.84 M
10 Year Net AUM Change: 256.48 M

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for IQDF on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Foreign Large Cap Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A- EFA
Expenses B- SPDW
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

IQDF Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

IQDF
Expense Ratio
0.47%
ETF Database Category Average
Expense Ratio
0.40%
FactSet Segment Average
Expense Ratio
0.56%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Qualified dividends
Distributes K1 No
ESG Themes and Scores
6.88/10
ESG Score
64.79%
Global Percentile
11.41%
Peer Percentile
    • Revenue Exposure to Environmental Impact (%)
      Higher is better, no ESG score impact
    • Severe Environment Controversies (%)
      Lower improves ESG score
    • Sustainable Impact Solutions (%)
      5.78%
      Higher is better, no ESG score impact
    • Weighted Average Carbon Intensity (Tons of CO2e / $M Sales)
      179.68
      Higher is worse, no ESG score impact
    • Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • High Impact Fossil Fuel Reserves (%)
      Higher is worse, no ESG score impact
    • Water Stress High Risk Business Segment (%)
      Lower improves ESG score
    • Water Stress High Risk Geography (%)
      Lower improves ESG score
    • Water Stress Exposure Moderate (%)
      Lower improves ESG score
    • Water Stress Exposure High (%)
      Lower improves ESG score
    • Water Stress Exposure Low (%)
      Higher improves ESG score
    • Revenue Exposure to Energy Efficiency (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Alternative Energy (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Green Building (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Pollution Prevention (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Water Sustainability (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Social Impact (%)
      Higher is better, no ESG score impact
    • Sustainable Impact Solutions (%)
      5.78%
      Higher is better, no ESG score impact
    • SRI Exclusion Criteria (%)
      10.19%
      Higher is worse, no ESG score impact
    • Revenue Exposure to Affordable Real Estate (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Education (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Major Disease Treatment (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Nutrition (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to Sanitation (%)
      Higher is better, no ESG score impact
    • Revenue Exposure to SME Finance (%)
      Higher is better, no ESG score impact
    • Human Rights Norms Violation (%)
      Higher is worse, no ESG score impact
    • Human Rights Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Human Rights Controversies (%)
      Lower improves ESG score
    • Labor Norms Violation (%)
      Higher is worse, no ESG score impact
    • Labor Norms Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Severe Labor Controversies (%)
      Lower improves ESG score
    • Severe Customer Controversies (%)
      Lower improves ESG score
    • Global Compact Compliance Violation (%)
      Higher is worse, no ESG score impact
    • Global Compact Compliance Violation OR Watch List (%)
      Higher is worse, no ESG score impact
    • Catholic Values Fail (%)
      Higher is worse, no ESG score impact
    • Islamic Non-Compliant (%)
      Higher is worse, no ESG score impact
    • Adult Entertainment Involvement (%)
      Higher is worse, no ESG score impact
    • Alcohol Involvement (%)
      Higher is worse, no ESG score impact
    • Gambling Involvement (%)
      Higher is worse, no ESG score impact
    • Nuclear Power Involvement (%)
      Higher is worse, no ESG score impact
    • Tobacco Involvement (%)
      Higher is worse, no ESG score impact
    • Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Controversies Weapons Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Involvement (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Retailer (%)
      Higher is worse, no ESG score impact
    • Civilian Firearms Producer (%)
      Higher is worse, no ESG score impact
    • Direct Predatory Lending Involvement (%)
      Higher is worse, no ESG score impact
    • Genetic Engineering Involvement (%)
      Higher is worse, no ESG score impact
    • Severe Governance Controversies (%)
      Lower improves ESG score
    • Board Flag (%)
      Lower improves ESG score
    • Lack of Independent Board Majority (%)
      Lower improves ESG score
    • Board Independence (0-25%) (%)
      Lower improves ESG score
    • Board Independence (25-50%) (%)
      Lower improves ESG score
    • Board Independence (50-75%) (%)
      Higher improves ESG score
    • Board Independence (75-100%) (%)
      Higher improves ESG score
    • No Female Directors (%)
      Lower improves ESG score
    • Three OR More Female Directors (%)
      Higher improves ESG score
    • Females Represent 30% of Directors (%)
      Higher improves ESG score
    • Entrenched Board (%)
      Lower improves ESG score
    • Overboarding (%)
      Lower improves ESG score
    • Negative Director Votes (%)
      Lower improves ESG score
    • Ownership AND Control Flag (%)
      Lower improves ESG score
    • One Share One Vote (%)
      Lower improves ESG score
    • No Annual Director Elections (%)
      Lower improves ESG score
    • Does Not Use Majority Voting (%)
      Lower improves ESG score
    • Significant Votes Against Pay Practices (%)
      Lower improves ESG score
    • Controlling Shareholder (%)
      Lower improves ESG score
    • Controlling Shareholder Concerns (%)
      Lower improves ESG score
    • Cross Shareholdings (%)
      Lower improves ESG score
    • Poison Pill (%)
      Lower improves ESG score
    • Pay Flag (%)
      Lower improves ESG score
    • No Pay Performance Link (%)
      Lower improves ESG score
    • Lack of Internal Pay Equity (%)
      Lower improves ESG score
    • Executive Pay Non-Disclosure (%)
      Lower improves ESG score
    • Accounting Flag (%)
      Lower improves ESG score

IQDF Performance

This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.

IQDF ETF Database
Category Average
Factset Segment
Average
1 Month Return -0.40% 0.21% 0.10%
3 Month Return 0.86% -0.03% 1.16%
YTD Return 10.28% 8.20% 7.04%
1 Year Return 16.54% 12.66% 9.99%
3 Year Return 4.59% 2.86% 1.02%
5 Year Return 6.12% 5.02% 2.72%

Geographic Exposure

The following charts reflect the geographic spread of IQDF's underlying holdings.

Region Percentage
Europe 46.15%
Asia Pacific 43.61%
North, Central and South America 10.26%
Country Percentage
Japan 12.37%
United Kingdom 7.92%
Switzerland 7.28%
Taiwan 7.1%
China 6.52%
Canada 5.89%
Hong Kong 5.66%
Australia 5.6%
France 3.74%
Netherlands 3.48%
Italy 3.21%
Sweden 2.82%
Germany 2.81%
India 2.81%
Poland 2.44%
Indonesia 2.12%
Spain 2.05%
Finland 1.97%
Norway 1.89%
South Africa 1.71%
Mexico 1.61%
Brazil 1.49%
United Arab Emirates 1.39%
Denmark 1.28%
Belgium 0.81%
Singapore 0.76%
Chile 0.72%
South Korea 0.72%
Turkey 0.42%
Austria 0.21%
Malaysia 0.21%
Czechia 0.21%
Kuwait 0.21%
Colombia 0.21%
Philippines 0.2%
Israel 0.15%
Bermuda 0.03%

Holdings Analysis

The following charts reflect the allocation of IQDF's underlying holdings.

Sector Percentage
Finance 28.13%
Energy Minerals 8.0%
Consumer Non-Durables 7.19%
Electronic Technology 6.92%
Non-Energy Minerals 6.57%
Consumer Durables 5.83%
Health Technology 5.63%
Producer Manufacturing 5.07%
Communications 5.05%
Transportation 4.3%
Utilities 3.48%
Technology Services 3.27%
Retail Trade 2.59%
Commercial Services 2.54%
Process Industries 2.07%
Distribution Services 1.9%
Miscellaneous 0.57%
Industrial Services 0.5%
Consumer Services 0.41%
Market Cap Percentage
Large 68.15%
Mid 29.65%
Small 0.95%
Micro 0.0%
Region Percentage
Asset Percentage
Share/Common/Ordinary 95.43%
Preferred Equity 2.75%
Closed-ended Fund 0.57%
Temporary 0.56%
American Depositary Receipt 0.34%
Depositary Receipts/Certificates 0.22%
Right 0.15%
Sector Percentage
Finance 28.13%
Energy Minerals 8.0%
Consumer Non-Durables 7.19%
Electronic Technology 6.92%
Non-Energy Minerals 6.57%
Consumer Durables 5.83%
Health Technology 5.63%
Producer Manufacturing 5.07%
Communications 5.05%
Transportation 4.3%
Utilities 3.48%
Technology Services 3.27%
Retail Trade 2.59%
Commercial Services 2.54%
Process Industries 2.07%
Distribution Services 1.9%
Miscellaneous 0.57%
Industrial Services 0.5%
Consumer Services 0.41%

IQDF Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 26.00%
20 Day Volatility 9.85%
50 Day Volatility 12.87%
200 Day Volatility 15.35%
Beta 0.85
Standard Deviation 1.18%
5 Day Volatility
26.00%
Rank
83 of 97

20 Day Volatility
9.85%
Rank
60 of 97

50 Day Volatility
12.87%
Rank
21 of 97

200 Day Volatility
15.35%
Rank
27 of 97

Beta
0.85
Rank
51 of 97

Standard Deviation
1.18%
Rank
67 of 97

Technicals

  • 20 Day MA $24.67
  • 60 Day MA $25.37
  • MACD 15 Period 0.34
  • MACD 100 Period -0.11
  • Williams % Range 10 Day 33.93
  • Williams % Range 20 Day 33.93
  • RSI 10 Day 57
  • RSI 20 Day 51
  • RSI 30 Day 50
  • Ultimate Oscillator 55

Bollinger Bands

  • Lower Bollinger (10 Day) $24.29
  • Upper Bollinger (10 Day) $25.40
  • Lower Bollinger (20 Day) $24.11
  • Upper Bollinger (20 Day) $25.21
  • Lower Bollinger (30 Day) $24.10
  • Upper Bollinger (30 Day) $25.62

Support & Resistance

  • Support Level 1 $25.00
  • Support Level 2 $24.94
  • Resistance Level 1 $25.15
  • Resistance Level 2 $25.24

Stochastic

  • Stochastic Oscillator %D (1 Day) 30.98
  • Stochastic Oscillator %D (5 Day) 65.89
  • Stochastic Oscillator %K (1 Day) 43.10
  • Stochastic Oscillator %K (5 Day) 75.19

Tradability

  • Tracking Difference Median (%) -0.89
  • Tracking Difference Max Upside (%) -0.31
  • Tracking Difference Max Downside (%) -4.70
  • Median Premium Discount (%) 0.16
  • Maximum Premium Discount (%) 1.43
  • Average Spread (%) 2.84
  • Average Spread ($) 2.84

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Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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