BTMKX vs. EFA
BTMKX (iShares MSCI EAFE International Index Fund) and EFA (iShares MSCI EAFE ETF) are both Foreign Large Cap Equities funds from iShares - BTMKX tracks the MSCI EAFE Index while EFA tracks the MSCI EAFE Index (Net). Both are passively managed. Over the past 10 years, BTMKX returned 9.42%/yr vs 9.11%/yr for EFA. With a 0.98 correlation, they move nearly in lockstep. BTMKX charges 0.05%/yr vs 0.32%/yr for EFA.
Performance
BTMKX vs. EFA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BTMKX achieves a 9.65% return, which is significantly higher than EFA's 8.42% return. Both investments have delivered pretty close results over the past 10 years, with BTMKX having a 9.42% annualized return and EFA not far behind at 9.11%.
BTMKX
- 1D
- 0.33%
- 1M
- 4.17%
- YTD
- 9.65%
- 6M
- 12.05%
- 1Y
- 22.44%
- 3Y*
- 17.20%
- 5Y*
- 8.94%
- 10Y*
- 9.42%
EFA
- 1D
- -0.86%
- 1M
- 3.40%
- YTD
- 8.42%
- 6M
- 10.94%
- 1Y
- 21.06%
- 3Y*
- 16.44%
- 5Y*
- 8.29%
- 10Y*
- 9.11%
BTMKX vs. EFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTMKX iShares MSCI EAFE International Index Fund | 9.65% | 31.70% | 3.70% | 18.37% | -14.04% | 11.30% | 8.07% | 21.96% | -13.38% | 25.17% |
EFA iShares MSCI EAFE ETF | 8.42% | 31.55% | 3.49% | 18.36% | -14.39% | 11.45% | 7.60% | 22.04% | -13.82% | 25.07% |
Correlation
The correlation between BTMKX and EFA is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2011 | 0.98 |
The correlation between BTMKX and EFA has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BTMKX vs. EFA — Risk / Return Rank
BTMKX
EFA
BTMKX vs. EFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE International Index Fund (BTMKX) and iShares MSCI EAFE ETF (EFA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BTMKX | EFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.85 | +0.06 |
| Martin ratioReturn relative to average drawdown | 7.15 | 6.94 | +0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BTMKX | EFA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.41 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.51 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.53 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.31 | +0.08 |
Drawdowns
BTMKX vs. EFA - Drawdown Comparison
The maximum BTMKX drawdown since its inception was -33.92%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for BTMKX and EFA.
Loading charts...
Drawdown Indicators
| BTMKX | EFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.92% | -61.04% | +27.12% |
Max Drawdown (1Y)Largest decline over 1 year | -11.30% | -11.42% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -13.66% | -14.05% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -29.23% | -29.53% | +0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -33.92% | -34.19% | +0.27% |
Current DrawdownCurrent decline from peak | -0.38% | -1.46% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -7.77% | -11.93% | +4.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.04% | -0.03% |
Volatility
BTMKX vs. EFA - Volatility Comparison
The current volatility for iShares MSCI EAFE International Index Fund (BTMKX) is 4.70%, while iShares MSCI EAFE ETF (EFA) has a volatility of 4.98%. This indicates that BTMKX experiences smaller price fluctuations and is considered to be less risky than EFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BTMKX | EFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 4.98% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.29% | 12.51% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.14% | 15.05% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 16.48% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.67% | 17.26% | -0.59% |
BTMKX vs. EFA - Expense Ratio Comparison
BTMKX has a 0.05% expense ratio, which is lower than EFA's 0.32% expense ratio.
Dividends
BTMKX vs. EFA - Dividend Comparison
BTMKX's dividend yield for the trailing twelve months is around 3.42%, more than EFA's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTMKX iShares MSCI EAFE International Index Fund | 3.42% | 3.74% | 3.43% | 3.19% | 2.80% | 3.06% | 1.99% | 3.34% | 4.58% | 2.45% | 2.85% | 2.42% |
EFA iShares MSCI EAFE ETF | 3.12% | 3.38% | 3.24% | 2.98% | 2.69% | 3.33% | 2.13% | 3.10% | 3.39% | 2.57% | 3.07% | 2.76% |
Frequently Asked Questions
With a correlation of 0.98, BTMKX and EFA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
EFA has higher volatility (4.98%) compared to BTMKX (4.70%). In terms of maximum drawdown, BTMKX dropped -33.92% vs EFA's -61.04%.
BTMKX currently has the higher Sharpe Ratio (1.43 vs 1.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for BTMKX and EFA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer