DBAW vs. EFA
Compare and contrast key facts about Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and iShares MSCI EAFE ETF (EFA).
DBAW and EFA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBAW is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI ACWI ex USA US Dollar Hedged Index. It was launched on Jan 23, 2014. EFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Index. It was launched on Aug 14, 2001. Both DBAW and EFA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DBAW vs. EFA - Performance Comparison
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DBAW vs. EFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 4.88% | 26.47% | 14.35% | 16.26% | -13.35% | 13.08% | 7.44% | 22.96% | -10.38% | 18.79% |
EFA iShares MSCI EAFE ETF | 2.69% | 31.55% | 3.49% | 18.36% | -14.39% | 11.45% | 7.60% | 22.04% | -13.82% | 25.07% |
Returns By Period
In the year-to-date period, DBAW achieves a 4.88% return, which is significantly higher than EFA's 2.69% return. Over the past 10 years, DBAW has outperformed EFA with an annualized return of 10.56%, while EFA has yielded a comparatively lower 8.93% annualized return.
DBAW
- 1D
- 1.27%
- 1M
- -3.86%
- YTD
- 4.88%
- 6M
- 11.08%
- 1Y
- 26.99%
- 3Y*
- 17.95%
- 5Y*
- 9.77%
- 10Y*
- 10.56%
EFA
- 1D
- 1.52%
- 1M
- -4.54%
- YTD
- 2.69%
- 6M
- 6.65%
- 1Y
- 24.78%
- 3Y*
- 14.94%
- 5Y*
- 8.43%
- 10Y*
- 8.93%
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DBAW vs. EFA - Expense Ratio Comparison
DBAW has a 0.41% expense ratio, which is higher than EFA's 0.32% expense ratio.
Return for Risk
DBAW vs. EFA — Risk / Return Rank
DBAW
EFA
DBAW vs. EFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) 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.
| DBAW | EFA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.69 | 1.40 | +0.28 |
Sortino ratioReturn per unit of downside risk | 2.27 | 1.99 | +0.28 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.32 | 2.19 | +0.13 |
Martin ratioReturn relative to average drawdown | 10.23 | 8.30 | +1.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBAW | EFA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.40 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.52 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.52 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.30 | +0.28 |
Correlation
The correlation between DBAW and EFA is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DBAW vs. EFA - Dividend Comparison
DBAW's dividend yield for the trailing twelve months is around 3.65%, more than EFA's 3.29% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 3.65% | 3.83% | 1.70% | 3.45% | 8.81% | 2.05% | 2.08% | 2.91% | 2.93% | 2.41% | 1.99% | 5.74% |
EFA iShares MSCI EAFE ETF | 3.29% | 3.38% | 3.24% | 2.98% | 2.69% | 3.33% | 2.13% | 3.10% | 3.39% | 2.57% | 3.07% | 2.76% |
Drawdowns
DBAW vs. EFA - Drawdown Comparison
The maximum DBAW drawdown since its inception was -31.44%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for DBAW and EFA.
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Drawdown Indicators
| DBAW | EFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.44% | -61.04% | +29.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -11.42% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -29.53% | +11.66% |
Max Drawdown (10Y)Largest decline over 10 years | -31.44% | -34.19% | +2.75% |
Current DrawdownCurrent decline from peak | -4.92% | -6.67% | +1.75% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -12.00% | +6.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 3.01% | -0.34% |
Volatility
DBAW vs. EFA - Volatility Comparison
The current volatility for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) is 6.34%, while iShares MSCI EAFE ETF (EFA) has a volatility of 7.51%. This indicates that DBAW 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.
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Volatility by Period
| DBAW | EFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.34% | 7.51% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.04% | 11.21% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.07% | 17.74% | -1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 16.32% | -2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.24% | 17.20% | -1.96% |