QLVD Fees and Costs — FlexShares Developed Markets ex-US Quality Low Volatility Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.12%: a 0.12% management fee plus 0.03% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0056% of average net assets, and portfolio turnover was 40%.
QLVD Fees and Expenses
Annual operating expenses and sales charges of QLVD. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.15% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.12% |
| 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 |
QLVD Costs Over Time
On $10,000 invested in QLVD, assuming 5% a year before costs, total costs come to $80 over 5 years, cutting the return by 0.13% 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 0.12%) | $13 | $40 | $69 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $2 | $7 |
| Total costs | $13 | $44 | $80 |
| Value after costs | $10,487 | $11,533 | $12,683 |
| Impact on return, per year | 0.13% | 0.13% | 0.13% |
QLVD 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): 0.0056%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $53.1M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $3.8M
- Net income from securities lending: $12K (0.024% of average net assets)
QLVD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $938 | 32.03% |
| UBS Securities LLC | $875 | 29.91% |
| Scotia Capital (USA) Inc. | $490 | 16.73% |
| J.P. Morgan Securities LLC | $300 | 10.25% |
| Citigroup Global Markets Inc. | $168 | 5.74% |
| BofA Securities, Inc. | $65 | 2.22% |
| Credit Agricole Securities (USA) Inc. | $50 | 1.69% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $17 | 0.58% |
| Macquarie Group Limited | $17 | 0.57% |
| Virtu Americas LLC | $8 | 0.27% |
QLVD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $18.3M | 34.52% |
| J.P. Morgan Securities LLC | $14.4M | 27.14% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $8.8M | 16.65% |
| UBS Securities LLC | $8.8M | 16.60% |
| BofA Securities, Inc. | $2.7M | 5.05% |
| Jefferies LLC | $17K | 0.03% |
| Morgan Stanley & Co. LLC | $5K | 0.01% |
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.