CPAI vs. EFA

Last updated Jun 23, 2026

CPAI (Counterpoint Quantitative Equity ETF) and EFA (iShares MSCI EAFE ETF) are both exchange-traded funds - CPAI is a Mid Cap Blend Equities fund actively managed by Counterpoint Funds, while EFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net). CPAI is actively managed, while EFA is passively managed. Over the past year, CPAI returned 45.05% vs 25.29% for EFA. A 0.64 correlation means they provide meaningful diversification when combined. CPAI charges 0.75%/yr vs 0.32%/yr for EFA.

Performance

CPAI vs. EFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Quantitative Equity ETF (CPAI) 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, CPAI achieves a 28.15% return, which is significantly higher than EFA's 10.63% return.

CPAI

• 1D: 1.50%
• 1M: 4.32%
• YTD: 28.15%
• 6M: 26.33%
• 1Y: 45.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFA

• 1D: 0.16%
• 1M: 2.17%
• YTD: 10.63%
• 6M: 11.01%
• 1Y: 25.29%
• 3Y*: 17.43%
• 5Y*: 9.14%
• 10Y*: 10.10%

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

CPAI vs. EFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	28.15%	17.79%	28.37%	5.67%
EFA iShares MSCI EAFE ETF	10.63%	31.55%	3.49%	5.48%

Correlation

The correlation between CPAI and EFA is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Nov 29, 2023	0.64

The correlation between CPAI and EFA has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.

CPAI vs. EFA - Sectors Allocation Comparison

Sectors	CPAI	EFA
Technology	48.5%	12.3%
Healthcare	15.4%	10.1%
Consumer Defensive	8.0%	6.9%
Industrials	7.4%	18.4%
Communication Services	7.2%	4.5%
Financial Services	3.8%	24.4%
Consumer Cyclical	3.6%	7.4%
Basic Materials	3.1%	6.2%
Energy	3.1%	3.7%
Real Estate	-	1.6%
Utilities	-	3.7%

Return for Risk

CPAI vs. EFA — Risk / Return Rank

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

CPAI

CPAI Risk / Return Rank: 76
CPAI Sharpe Ratio Rank: 78
CPAI Sortino Ratio Rank: 71
CPAI Omega Ratio Rank: 70
CPAI Calmar Ratio Rank: 83
CPAI Martin Ratio Rank: 80

EFA

EFA Risk / Return Rank: 48
EFA Sharpe Ratio Rank: 49
EFA Sortino Ratio Rank: 49
EFA Omega Ratio Rank: 48
EFA Calmar Ratio Rank: 46
EFA Martin Ratio Rank: 50

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.

CPAI vs. EFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Quantitative Equity ETF (CPAI) 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.

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.

	CPAI	EFA	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.64	+0.73
Sortino ratio: Return per unit of downside risk	3.07	2.34	+0.73
Omega ratio: Gain probability vs. loss probability	1.40	1.30	+0.10
Calmar ratio: Return relative to maximum drawdown	4.32	2.22	+2.10
Martin ratio: Return relative to average drawdown	15.22	8.31	+6.92

CPAI vs. EFA - Sharpe Ratio Comparison

The current CPAI Sharpe Ratio is 2.37, which is higher than the EFA Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of CPAI 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.

Drawdowns

CPAI vs. EFA - Drawdown Comparison

The maximum CPAI drawdown since its inception was -21.46%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for CPAI and EFA.

Drawdown Indicators

	CPAI	EFA	Difference
Max Drawdown Largest peak-to-trough decline	-21.46%	-61.04%	+39.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-11.42%	+0.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.05%	—
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	-1.27%	0.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-2.98%	-11.91%	+8.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.05%	-0.08%

Volatility

CPAI vs. EFA - Volatility Comparison

Counterpoint Quantitative Equity ETF (CPAI) has a higher volatility of 7.67% compared to iShares MSCI EAFE ETF (EFA) at 4.87%. This indicates that CPAI's price experiences larger fluctuations and is considered to be riskier than EFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPAI	EFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.67%	4.87%	+2.80%
Volatility (6M) Calculated over the trailing 6-month period	15.70%	13.15%	+2.55%
Volatility (1Y) Calculated over the trailing 1-year period	19.12%	15.54%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.45%	16.56%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.45%	17.23%	+2.22%

CPAI vs. EFA - Expense Ratio Comparison

CPAI has a 0.75% expense ratio, which is higher than EFA's 0.32% expense ratio.

Dividends

CPAI vs. EFA - Dividend Comparison

CPAI's dividend yield for the trailing twelve months is around 0.70%, less than EFA's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPAI Counterpoint Quantitative Equity ETF	0.70%	0.89%	0.41%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EFA iShares MSCI EAFE ETF	3.22%	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 CPAI and EFA in my portfolio?

CPAI and EFA have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPAI or EFA?

CPAI has higher volatility (7.67%) compared to EFA (4.87%). In terms of maximum drawdown, CPAI dropped -21.46% vs EFA's -61.04%.

Which ETF is better, CPAI or EFA?

On 1-year performance, CPAI leads with 45.05% vs 25.29% for EFA. On fees, EFA is cheaper at 0.32% per year. On volatility, EFA has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPAI or EFA?

Over the 1-year period, CPAI has performed better with a 45.05% return vs 25.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPAI or EFA?

EFA is cheaper with a 0.32% expense ratio, compared with 0.75% for CPAI.

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

EFA has the higher dividend yield at 3.22%, compared with 0.70% for CPAI.

What is the main difference between CPAI and EFA?

CPAI is categorized as Mid Cap Blend Equities, while EFA is Foreign Large Cap Equities. They also come from different issuers: Counterpoint Funds and iShares. Their fees differ too: 0.75% for CPAI and 0.32% for EFA.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.37 vs 1.64), 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.