iShares MSCI World ex Australia Quality ETF (IQLT) Review & Analysis

MER · Top 25%AUM · #358 of 5081Y Return · Top 50%

What's new this monthData to 30 September 2026

+2.7% in September (total return), ahead of the median international shares ETF at +0.0%.
Investors added a net $12m (38.7% of the fund).
The unit price closed the month at $32.22, at or near its 12-month high (range $28.15 to $32.30).

About IQLT

IQLT is an international shares ETF from iShares, listed on the TMX Australia exchange since February 2024. With $42m under management it is number 179 of 254 international shares ETFs by size. The management fee is 0.25% a year, about $25 on every $10,000 invested, cheaper than the typical international shares ETF at 0.55%.

Its largest holdings are Microsoft Corp, Apple Inc and Meta Platforms Inc, and the top 10 make up 39% of the fund. By sector it leans towards information technology (26%) and financials (18%). United States is the biggest country exposure at 76%.

Over the past year it returned +10.2%, against +10.4% for the median international shares ETF. Broad, low-cost funds like this are often used as a core holding in a core and satellite portfolio.

Compare IQLT Check overlap iShares website ↗

Compare IQLT with

IQLTvsIHQL

iShares MSCI World ex Australia Quality (AUD Hedged) ETF

Fee	0.25%	0.28%
1 year	+10.2%	+16.6%
5 yrs p.a.	–	–
Size	$42m	$2.4m

Same holdings99%Near identical

Full comparison →

IQLTvsIHWL

iShares Core MSCI World ex Australia ESG Leaders ETF

Fee	0.25%	0.13%
1 year	+10.2%	+17.1%
5 yrs p.a.	–	+11.0%
Size	$42m	$1.1bn

Same holdings46%Some overlap

Full comparison →

IQLTvsQMIX

State Street SPDR MSCI World Quality Mix ETF

Fee	0.25%	0.18%
1 year	+10.2%	+9.5%
5 yrs p.a.	–	+10.5%
Size	$42m	$449m

Same holdings45%Some overlap

Full comparison →

IQLTvsIVLU

iShares MSCI World ex Australia Value ETF

Fee	0.25%	0.25%
1 year	+10.2%	+43.1%
5 yrs p.a.	–	–
Size	$42m	$43m

Same holdings5%Very different

Full comparison →

Stock Code	IQLT
Fund Manager	iShares
Asset Class	International shares
AUM	$42m
MER (%)	0.25%
Net flows (Sep)	+$12m
Last Price	$32.22
52-Week Range	$28.15 – $32.30
Bid/Ask Spread	0.28%
Listing Date	16/02/2024
Exchange	TMX Australia
Index tracked	MSCI World ex Australia Sector Neutral Quality Index
Issuer website	iShares ↗

Performance (% return)

1 month+2.7%

1 year+10.2%

3 years p.a.–

5 years p.a.–

$10,000 invested…

1 year ago$11,022

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

IQLT at a glance: strengths and things to watch

👍 Strengths

Low cost. At 0.25% a year it is cheaper than 89% of international shares ETFs.
Money is flowing in. Investors added a net $12m in September (28% of the fund).

⚠️ Things to watch

Small fund. With $42m under management, it is more at risk of being closed or merged than larger funds, and trading can be thinner.
Short track record. Listed in February 2024, so it hasn't been tested through a full market cycle.

Worked out from IQLT's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 30 Oct 2026

IQLT is in a base. Here's why that matters.

IQLT's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 2.1% below its 12-month high.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

UptrendBaseDowntrend

IQLT weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

Investment Focus

Exposure Regions

Global

Portfolio Breakdown

Top 10 holdings (38.7% of the fund)

Symbol	Company	% assets
MSFT		5.87%
AAPL		5.41%
META		4.79%
LLY		4.75%
NVDA		4.35%
V		3.60%
GOOGL		3.39%
ASML		2.48%
MA		2.07%
JNJ		1.99%

Sector breakdown

Information Technology26.0%
Financials17.5%
Health Care15.5%
Communication Services9.9%
Industrials9.2%
Consumer Staples7.8%
Consumer Discretionary5.7%
Materials3.1%
Other5.3%

Country breakdown

United States76.2%
Switzerland4.7%
United Kingdom4.6%
Japan3.4%
Netherlands2.7%
Canada1.9%
France1.4%
Germany1.3%
Other3.8%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 283 positions, covering 100% of the fund. Compare IQLT's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
IHQL	iShares MSCI World ex Australia Quality (AUD Hedged) ETF Currency hedged	99%	0.28%	$2.4m	+16.6%	–	–
QHAL	VanEck MSCI International Quality (AUD Hedged) ETF Currency hedged	83%	0.43%	$2.7bn	+16.5%	+17.8%	+9.7%
QUAL	VanEck MSCI International Quality ETF	82%	0.40%	$9.2bn	+10.1%	+16.1%	+11.4%
GARP	Global X S&P World ex Australia GARP ETF	53%	0.30%	$132m	+5.6%	–	–
VGS	Vanguard MSCI Index International Shares ETF	47%	0.18%	$18.7bn	+10.1%	+17.9%	+11.8%
VGAD	Vanguard MSCI Index International Shares (Hedged) ETF Currency hedged	47%	0.21%	$7.9bn	+17.1%	+19.8%	+10.8%

Same holdings is the share of IQLT's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like IQLT →

IQLT vs its closest alternatives

What actually differs between IQLT and the ETFs most like it. Data to 30 Sep 2026.

IHQL iShares MSCI World ex Australia Quality (AUD Hedged) ETF

They share 99% of their holdings: largely the same companies.
IQLT is cheaper (0.25% vs 0.28%), worth about $2,070 on $100,000 over 20 years.
Over 1 year: IQLT +10.2%, IHQL +16.6% (IHQL ahead by 6.3 percentage points).
IQLT is much larger ($42m vs $2.4m), which usually means tighter trading spreads.
Different structure: IQLT is a standard fund, IHQL is currency hedged.

Compare IQLT and IHQL side by side →

QHAL VanEck MSCI International Quality (AUD Hedged) ETF

They share 83% of their holdings: largely the same companies.
IQLT is cheaper (0.25% vs 0.43%), worth about $12,256 on $100,000 over 20 years.
Over 1 year: IQLT +10.2%, QHAL +16.5% (QHAL ahead by 6.3 percentage points).
QHAL is much larger ($2.7bn vs $42m), which usually means tighter trading spreads.
Different structure: IQLT is a standard fund, QHAL is currency hedged.

Compare IQLT and QHAL side by side →

QUAL VanEck MSCI International Quality ETF

They share 82% of their holdings: largely the same companies.
IQLT is cheaper (0.25% vs 0.40%), worth about $10,241 on $100,000 over 20 years.
Over 1 year: IQLT +10.2%, QUAL +10.1% (almost identical).
QUAL is much larger ($9.2bn vs $42m), which usually means tighter trading spreads.

Compare IQLT and QUAL side by side →

General information only. Past performance is not a reliable indicator of future performance.

IQLT FAQs

What is the fee for IQLT?

IQLT charges a management fee (MER) of 0.25% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is IQLT?

IQLT had $42m in funds under management as at 30 September 2026.

How has IQLT performed?

IQLT returned +10.2% over the year to 30 September 2026 (total return, including distributions). Past performance is not a reliable indicator of future performance.

Who manages IQLT?

IQLT is managed by iShares and has been listed since February 2024.

Is IQLT franked?

Generally no. IQLT invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

What does IQLT hold?

IQLT's largest holdings are Microsoft Corp (5.9%), Apple Inc (5.4%), Meta Platforms Inc (4.8%), Eli Lilly & Co (4.8%), NVIDIA Corp (4.3%). It holds about 283 investments in total. The biggest sector is information technology at 26%. Holdings as at 30 October 2026.

Is IQLT currency hedged?

No, IQLT is unhedged. Its returns move with the Australian dollar: a falling dollar adds to returns and a rising dollar reduces them.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the iShares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.