An international spin on this idea can be found in the FlexShares Developed Markets ex-US Quality Low Volatility Index Fund (QLVD). He noted that the markets have several rate cuts priced in, but Northern Trust thinks the inflation numbers might still be too high for the Fed. “Let’s stick to the stuff that works best in the portfolio.” The FlexShares US Quality Low Volatility Index Fund (QLV) is built to capture this combination.