CEFA vs. IDEV

Last updated Jun 4, 2026

CEFA (Global X S&P Catholic Values Developed ex-U.S. ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both Foreign Large Cap Equities funds - CEFA tracks the S&P Developed ex-U.S. Catholic Values Index while IDEV tracks the MSCI World ex USA Investable Market Index. Both are passively managed. Over the past 5 years, CEFA returned 6.64%/yr vs 8.48%/yr for IDEV. Their correlation of 0.81 suggests significant overlap in exposure. CEFA charges 0.35%/yr vs 0.05%/yr for IDEV.

Performance

CEFA vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) and iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEFA achieves a 7.81% return, which is significantly lower than IDEV's 8.92% return.

CEFA

• 1D: -0.77%
• 1M: 3.62%
• YTD: 7.81%
• 6M: 9.59%
• 1Y: 20.44%
• 3Y*: 15.15%
• 5Y*: 6.64%
• 10Y*: —

IDEV

• 1D: -0.90%
• 1M: 3.23%
• YTD: 8.92%
• 6M: 11.57%
• 1Y: 23.20%
• 3Y*: 17.40%
• 5Y*: 8.48%
• 10Y*: —

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

CEFA vs. IDEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF	7.81%	26.46%	5.03%	17.40%	-16.66%	7.97%	21.61%
IDEV iShares Core MSCI International Developed Markets ETF	8.92%	32.56%	4.54%	17.36%	-14.99%	13.00%	22.60%

Correlation

The correlation between CEFA and IDEV is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020	0.81

The correlation between CEFA and IDEV shifts across timeframes, from 0.81 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.

CEFA vs. IDEV - Sectors Allocation Comparison

Sectors	CEFA	IDEV
Financial Services	26.1%	24.2%
Industrials	19.2%	19.1%
Technology	10.7%	9.9%
Healthcare	10.6%	8.6%
Consumer Cyclical	8.7%	7.7%
Consumer Defensive	6.7%	6.0%
Basic Materials	5.7%	8.0%
Energy	4.4%	5.9%
Communication Services	3.6%	4.0%
Utilities	3.2%	3.7%
Real Estate	1.3%	2.9%

Return for Risk

CEFA vs. IDEV — Risk / Return Rank

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

CEFA

CEFA Risk / Return Rank: 38
CEFA Sharpe Ratio Rank: 37
CEFA Sortino Ratio Rank: 37
CEFA Omega Ratio Rank: 37
CEFA Calmar Ratio Rank: 36
CEFA Martin Ratio Rank: 41

IDEV

IDEV Risk / Return Rank: 45
IDEV Sharpe Ratio Rank: 45
IDEV Sortino Ratio Rank: 45
IDEV Omega Ratio Rank: 44
IDEV Calmar Ratio Rank: 41
IDEV Martin Ratio Rank: 48

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.

CEFA vs. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) and iShares Core MSCI International Developed Markets ETF (IDEV). 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.

	CEFA	IDEV	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.61	-0.27
Sortino ratio: Return per unit of downside risk	1.94	2.29	-0.35
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.78	2.08	-0.30
Martin ratio: Return relative to average drawdown	6.54	8.16	-1.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEFA vs. IDEV - Sharpe Ratio Comparison

The current CEFA Sharpe Ratio is 1.34, which is comparable to the IDEV Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of CEFA and IDEV, 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

	CEFA	IDEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.61	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.52	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.55	+0.09

Drawdowns

CEFA vs. IDEV - Drawdown Comparison

The maximum CEFA drawdown since its inception was -31.97%, smaller than the maximum IDEV drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for CEFA and IDEV.

Drawdown Indicators

	CEFA	IDEV	Difference
Max Drawdown Largest peak-to-trough decline	-31.97%	-34.77%	+2.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.54%	-11.20%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	-13.41%	-2.04%
Max Drawdown (5Y) Largest decline over 5 years	-31.97%	-29.15%	-2.82%
Current Drawdown Current decline from peak	-1.47%	-0.98%	-0.49%
Average Drawdown Average peak-to-trough decline	-7.05%	-6.57%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	2.85%	+0.28%

Volatility

CEFA vs. IDEV - Volatility Comparison

Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) has a higher volatility of 5.01% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 4.60%. This indicates that CEFA's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEFA	IDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	4.60%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	12.10%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	14.51%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.61%	16.26%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.21%	17.27%	-0.06%

CEFA vs. IDEV - Expense Ratio Comparison

CEFA has a 0.35% expense ratio, which is higher than IDEV's 0.05% expense ratio.

Dividends

CEFA vs. IDEV - Dividend Comparison

CEFA's dividend yield for the trailing twelve months is around 2.65%, less than IDEV's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF	2.65%	2.86%	3.26%	2.35%	2.35%	3.49%	0.84%	0.00%	0.00%	0.00%
IDEV iShares Core MSCI International Developed Markets ETF	3.13%	3.40%	3.30%	3.07%	2.69%	3.05%	2.00%	3.18%	3.16%	1.54%

Frequently Asked Questions

Can I hold both CEFA and IDEV in my portfolio?

With a correlation of 0.97, CEFA and IDEV 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, CEFA or IDEV?

CEFA has higher volatility (5.01%) compared to IDEV (4.60%). In terms of maximum drawdown, CEFA dropped -31.97% vs IDEV's -34.77%.

Which ETF is better, CEFA or IDEV?

On 5-year performance, IDEV leads with 8.48% vs 6.64% for CEFA. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CEFA or IDEV?

Over the 5-year period, IDEV has performed better with a 8.48% return vs 6.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CEFA or IDEV?

IDEV is cheaper with a 0.05% expense ratio, compared with 0.35% for CEFA.

Which ETF pays a higher dividend yield, CEFA or IDEV?

IDEV has the higher dividend yield at 3.13%, compared with 2.65% for CEFA.

What is the main difference between CEFA and IDEV?

CEFA tracks S&P Developed ex-U.S. Catholic Values Index, while IDEV tracks MSCI World ex USA Investable Market Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.35% for CEFA and 0.05% for IDEV.

Which has better risk-adjusted returns?

IDEV currently has the higher Sharpe Ratio (1.61 vs 1.34), 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.