AVSD vs. EFA

Last updated Jun 4, 2026

AVSD (Avantis Responsible International Equity ETF) and EFA (iShares MSCI EAFE ETF) are both Foreign Large Cap Equities funds - AVSD tracks the MSCI World ex USA IMI while EFA tracks the MSCI EAFE Index (Net). Both are passively managed. Over the past 3 years, AVSD returned 19.59%/yr vs 16.44%/yr for EFA. With a 0.98 correlation, they move nearly in lockstep. AVSD charges 0.23%/yr vs 0.32%/yr for EFA.

Performance

AVSD vs. EFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Responsible International Equity ETF (AVSD) and iShares MSCI EAFE ETF (EFA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVSD achieves a 7.97% return, which is significantly lower than EFA's 8.42% return.

AVSD

• 1D: -0.89%
• 1M: 3.73%
• YTD: 7.97%
• 6M: 11.12%
• 1Y: 23.43%
• 3Y*: 19.59%
• 5Y*: —
• 10Y*: —

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVSD vs. EFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVSD Avantis Responsible International Equity ETF	7.97%	37.07%	6.69%	17.49%	-9.69%
EFA iShares MSCI EAFE ETF	8.42%	31.55%	3.49%	18.36%	-7.80%

Correlation

The correlation between AVSD 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 (All Time) Calculated using the full available price history since Mar 18, 2022	0.98

The correlation between AVSD and EFA has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

AVSD vs. EFA - Sectors Allocation Comparison

Sectors	AVSD	EFA
Financial Services	32.2%	24.6%
Industrials	16.8%	19.9%
Consumer Cyclical	12.0%	7.6%
Technology	9.7%	10.4%
Healthcare	7.9%	10.6%
Basic Materials	5.9%	5.9%
Consumer Defensive	5.0%	6.7%
Communication Services	4.9%	4.5%
Utilities	2.8%	4.0%
Real Estate	2.6%	1.9%
Energy	0.4%	4.0%

Return for Risk

AVSD vs. EFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVSD

AVSD Risk / Return Rank: 43
AVSD Sharpe Ratio Rank: 44
AVSD Sortino Ratio Rank: 44
AVSD Omega Ratio Rank: 44
AVSD Calmar Ratio Rank: 38
AVSD Martin Ratio Rank: 44

EFA

EFA Risk / Return Rank: 39
EFA Sharpe Ratio Rank: 39
EFA Sortino Ratio Rank: 39
EFA Omega Ratio Rank: 38
EFA Calmar Ratio Rank: 37
EFA Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVSD vs. EFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible International Equity ETF (AVSD) 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.

	AVSD	EFA	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.41	+0.14
Sortino ratio: Return per unit of downside risk	2.24	2.04	+0.21
Omega ratio: Gain probability vs. loss probability	1.28	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	1.86	1.85	+0.01
Martin ratio: Return relative to average drawdown	7.20	6.94	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVSD vs. EFA - Sharpe Ratio Comparison

The current AVSD Sharpe Ratio is 1.55, which is comparable to the EFA Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of AVSD and EFA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVSD	EFA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	1.41	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.31	+0.48

Drawdowns

AVSD vs. EFA - Drawdown Comparison

The maximum AVSD drawdown since its inception was -25.56%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for AVSD and EFA.

Drawdown Indicators

	AVSD	EFA	Difference
Max Drawdown Largest peak-to-trough decline	-25.56%	-61.04%	+35.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.63%	-11.42%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-13.30%	-14.05%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.19%	—
Current Drawdown Current decline from peak	-1.38%	-1.46%	+0.08%
Average Drawdown Average peak-to-trough decline	-4.92%	-11.93%	+7.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.04%	+0.22%

Volatility

AVSD vs. EFA - Volatility Comparison

Avantis Responsible International Equity ETF (AVSD) and iShares MSCI EAFE ETF (EFA) have volatilities of 4.90% and 4.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVSD	EFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	4.98%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	12.51%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	15.23%	15.05%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	16.48%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	17.26%	-0.60%

AVSD vs. EFA - Expense Ratio Comparison

AVSD has a 0.23% expense ratio, which is lower than EFA's 0.32% expense ratio.

Dividends

AVSD vs. EFA - Dividend Comparison

AVSD's dividend yield for the trailing twelve months is around 2.44%, less than EFA's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVSD Avantis Responsible International Equity ETF	2.44%	2.54%	3.25%	2.53%	1.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both AVSD and EFA in my portfolio?

With a correlation of 0.98, AVSD 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.

Which is riskier, AVSD or EFA?

EFA has higher volatility (4.98%) compared to AVSD (4.90%). In terms of maximum drawdown, AVSD dropped -25.56% vs EFA's -61.04%.

Which ETF is better, AVSD or EFA?

On 3-year performance, AVSD leads with 19.59% vs 16.44% for EFA. On fees, AVSD is cheaper at 0.23% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVSD or EFA?

Over the 3-year period, AVSD has performed better with a 19.59% return vs 16.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVSD or EFA?

AVSD is cheaper with a 0.23% expense ratio, compared with 0.32% for EFA.

Which ETF pays a higher dividend yield, AVSD or EFA?

EFA has the higher dividend yield at 3.12%, compared with 2.44% for AVSD.

What is the main difference between AVSD and EFA?

AVSD tracks MSCI World ex USA IMI, while EFA tracks MSCI EAFE Index (Net). They also come from different issuers: Avantis and iShares. Their fees differ too: 0.23% for AVSD and 0.32% for EFA.

Which has better risk-adjusted returns?

AVSD currently has the higher Sharpe Ratio (1.55 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.