QLV Fees and Costs — FlexShares US Quality Low Volatility Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.08%: a 0.08% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $908 in broker commissions, 0.0007% of average net assets, and portfolio turnover was 46%.
QLV Fees and Expenses
Annual operating expenses and sales charges of QLV. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.08% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.09% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.08% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
QLV Costs Over Time
On $10,000 invested in QLV, assuming 5% a year before costs, total costs come to $51 over 5 years, cutting the return by 0.08% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.08%) | $8 | $26 | $46 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $8 | $28 | $51 |
| Value after costs | $10,492 | $11,548 | $12,711 |
| Impact on return, per year | 0.08% | 0.08% | 0.08% |
QLV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0007%
- Total broker commissions: $908
- Bought from dealers (principal trades, not a cost): $222.4M
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $10.0M
- Net income from securities lending: $12K (0.009% of average net assets)
QLV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $703 | 77.42% |
| BofA Securities, Inc. | $142 | 15.66% |
| Barclays Capital, Inc. | $61 | 6.71% |
| Virtu Americas LLC | $2 | 0.21% |
QLV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $86.2M | 38.78% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $65.6M | 29.53% |
| UBS Securities LLC | $38.4M | 17.26% |
| Macquarie Capital (USA) Inc. | $16.6M | 7.48% |
| Virtu Americas LLC | $8.2M | 3.70% |
| Goldman Sachs & Co. LLC | $6.5M | 2.94% |
| J.P. Morgan Securities LLC | $281K | 0.13% |
| Morgan Stanley & Co. LLC | $188K | 0.08% |
| BMO Nesbitt Burns Securities Ltd. | $131K | 0.06% |
| Bank of Montreal | $103K | 0.05% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.