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ACWV vs. EFAV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ACWV vs. EFAV

Last updated Aug 2, 2026
Documentation

ACWV (iShares MSCI Global Min Vol Factor ETF) and EFAV (iShares MSCI EAFE Min Vol Factor ETF) are both exchange-traded funds - ACWV is a Global Equities fund tracking the MSCI ACWI Minimum Volatility Index, while EFAV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Minimum Volatility (USD) Index. Both are passively managed. Over the past 10 years, ACWV returned 7.18%/yr vs 6.38%/yr for EFAV. Their correlation of 0.82 means they have usually moved in the same direction. Both charge a 0.20% expense ratio.

Performance

ACWV vs. EFAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Min Vol Factor ETF (ACWV) and iShares MSCI EAFE Min Vol Factor ETF (EFAV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ACWV achieves a 5.75% return, which is significantly lower than EFAV's 9.79% return. Over the past 10 years, ACWV has outperformed EFAV with an annualized return of 7.18%, while EFAV has yielded a comparatively lower 6.38% annualized return.

ACWV

1D
-0.33%
1M
1.99%
6M
4.00%
YTD
5.75%
1Y
8.69%
3Y*
10.41%
5Y*
5.79%
10Y*
7.18%
ALL TIME*
8.75%

EFAV

1D
-1.09%
1M
4.40%
6M
6.21%
YTD
9.79%
1Y
16.01%
3Y*
14.35%
5Y*
6.86%
10Y*
6.38%
ALL TIME*
7.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ACWV

iShares MSCI Global Min Vol Factor ETF
$12.13M$11.24M$12.40M

EFAV

iShares MSCI EAFE Min Vol Factor ETF
$54.17M$49.40M$45.31M

ACWV vs. EFAV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ACWV
iShares MSCI Global Min Vol Factor ETF		5.75%11.04%11.38%8.23%-10.36%13.97%3.04%21.04%-1.42%18.57%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		9.79%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%

Correlation

The correlation between ACWV and EFAV is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.76

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.80

Correlation (10Y)
Provides a long-term view across more market conditions.

0.83

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2011

0.82

The correlation between ACWV and EFAV shifts across timeframes, from 0.71 (1 year) to 0.83 (10 years), reflecting how their relationship changes across market environments.

ACWV vs. EFAV - Sectors Allocation Comparison

Sectors
ACWV
EFAV

Technology

25.3%
4.4%

Healthcare

13.8%
12.2%

Financial Services

13.5%
19.7%

Communication Services

11.3%
9.1%

Consumer Defensive

9.7%
12.6%

Industrials

8.1%
15.7%

Utilities

7.5%
9.0%

Consumer Cyclical

5.3%
5.1%

Energy

3.5%
7.7%

Basic Materials

1.5%
1.6%

Real Estate

0.6%
2.9%

Technology

ACWV
25.3%
EFAV
4.4%

Healthcare

ACWV
13.8%
EFAV
12.2%

Financial Services

ACWV
13.5%
EFAV
19.7%

Communication Services

ACWV
11.3%
EFAV
9.1%

Consumer Defensive

ACWV
9.7%
EFAV
12.6%

Industrials

ACWV
8.1%
EFAV
15.7%

Utilities

ACWV
7.5%
EFAV
9.0%

Consumer Cyclical

ACWV
5.3%
EFAV
5.1%

Energy

ACWV
3.5%
EFAV
7.7%

Basic Materials

ACWV
1.5%
EFAV
1.6%

Real Estate

ACWV
0.6%
EFAV
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Global Min Vol Factor ETF

iShares MSCI EAFE Min Vol Factor ETF

Often compared with ACWV:
ACWV vs. USMVACWV vs. VTACWV vs. MVOL.LACWV vs. SPLVACWV vs. VOOACWV vs. XMW.TOACWV vs. VXUS
Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLVEFAV vs. FID

Return for Risk

ACWV vs. EFAV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ACWV
ACWV Risk / Return Rank: 4444
Overall Rank
ACWV Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
ACWV Sortino Ratio Rank: 4747
Sortino Ratio Rank
ACWV Omega Ratio Rank: 4545
Omega Ratio Rank
ACWV Calmar Ratio Rank: 4141
Calmar Ratio Rank
ACWV Martin Ratio Rank: 3939
Martin Ratio Rank
EFAV
EFAV Risk / Return Rank: 6969
Overall Rank
EFAV Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 7373
Sortino Ratio Rank
EFAV Omega Ratio Rank: 7373
Omega Ratio Rank
EFAV Calmar Ratio Rank: 7575
Calmar Ratio Rank
EFAV Martin Ratio Rank: 5252
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ACWV vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Min Vol Factor ETF (ACWV) and iShares MSCI EAFE Min Vol Factor ETF (EFAV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ACWVEFAVDifference
Sharpe ratioReturn per unit of total volatility
1.14
1.64

-0.50

Sortino ratioReturn per unit of downside risk
1.71
2.35

-0.65

Omega ratioGain probability vs. loss probability

1.21

1.30

-0.09

Calmar ratioReturn relative to maximum drawdown

1.45

2.62

-1.18

Martin ratioReturn relative to average drawdown

4.10

6.10

-2.00

ACWV vs. EFAV - Sharpe Ratio Comparison

The current ACWV Sharpe Ratio is 1.14, which is lower than the EFAV Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of ACWV and EFAV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ACWV vs. EFAV - Drawdown Comparison

The maximum ACWV drawdown since its inception was -28.82%, roughly equal to the maximum EFAV drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for ACWV and EFAV.

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Drawdown Indicators

ACWVEFAVDifference

Max Drawdown

Largest peak-to-trough decline

-28.82%

-27.56%

-1.26%

Max Drawdown (1Y)

Largest decline over 1 year

-6.37%

-6.66%

+0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-7.56%

-8.65%

+1.09%

Max Drawdown (5Y)

Largest decline over 5 years

-18.14%

-27.46%

+9.32%

Max Drawdown (10Y)

Largest decline over 10 years

-28.82%

-27.56%

-1.26%

Current Drawdown

Current decline from peak

-0.36%

-1.09%

+0.73%

Average Drawdown

Average peak-to-trough decline

-3.10%

-4.76%

+1.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.24%

2.86%

-0.62%

Volatility

ACWV vs. EFAV - Volatility Comparison

The current volatility for iShares MSCI Global Min Vol Factor ETF (ACWV) is 2.56%, while iShares MSCI EAFE Min Vol Factor ETF (EFAV) has a volatility of 3.28%. This indicates that ACWV experiences smaller price fluctuations and is considered to be less risky than EFAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ACWVEFAVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.56%

3.28%

-0.72%

Volatility (6M)

Calculated over the trailing 6-month period

6.41%

8.85%

-2.44%

Volatility (1Y)

Calculated over the trailing 1-year period

8.08%

10.67%

-2.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.30%

11.88%

-1.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.30%

13.03%

-0.73%

ACWV vs. EFAV - Expense Ratio Comparison

Both ACWV and EFAV have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ACWV vs. EFAV - Dividend Comparison

ACWV's dividend yield for the trailing twelve months is around 1.90%, less than EFAV's 3.07% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWV
iShares MSCI Global Min Vol Factor ETF		1.90%2.09%2.33%2.41%2.18%1.92%1.77%2.54%2.32%2.04%2.56%2.28%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		3.07%3.20%3.24%3.08%2.53%2.47%1.33%4.19%3.34%2.45%3.94%2.49%

Frequently Asked Questions

ACWV and EFAV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EFAV has higher volatility (3.28%) compared to ACWV (2.56%). In terms of maximum drawdown, ACWV dropped -28.82% vs EFAV's -27.56%.

On 10-year performance, ACWV leads with 7.18% vs 6.38% for EFAV. Both ETFs have the same 0.20% expense ratio. On volatility, ACWV has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWV has performed better with a 7.18% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ACWV and EFAV have the same expense ratio: 0.20% per year.

EFAV has the higher dividend yield at 3.07%, compared with 1.90% for ACWV.

ACWV is categorized as Global Equities, while EFAV is Foreign Large Cap Equities. ACWV tracks MSCI ACWI Minimum Volatility Index, while EFAV tracks MSCI EAFE Minimum Volatility (USD) Index.

EFAV currently has the higher Sharpe Ratio (1.64 vs 1.14), 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.

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