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DWX vs. EFAV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DWX vs. EFAV

Last updated Aug 4, 2026
Documentation

DWX (SPDR S&P International Dividend ETF) and EFAV (iShares MSCI EAFE Min Vol Factor ETF) are both Foreign Large Cap Equities funds - DWX tracks the S&P International Dividend Opportunities Index while EFAV tracks the MSCI EAFE Minimum Volatility (USD) Index. Both are passively managed. Over the past 10 years, DWX returned 7.29%/yr vs 6.41%/yr for EFAV. Their correlation of 0.85 means they have usually moved in the same direction. DWX charges 0.45%/yr vs 0.20%/yr for EFAV.

Performance

DWX vs. EFAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P International Dividend ETF (DWX) 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, DWX achieves a 10.64% return, which is significantly higher than EFAV's 9.53% return. Over the past 10 years, DWX has outperformed EFAV with an annualized return of 7.29%, while EFAV has yielded a comparatively lower 6.41% annualized return.

DWX

1D
-0.42%
1M
3.07%
6M
6.49%
YTD
10.64%
1Y
19.67%
3Y*
16.41%
5Y*
8.12%
10Y*
7.29%
ALL TIME*
2.78%

EFAV

1D
-0.24%
1M
4.16%
6M
5.55%
YTD
9.53%
1Y
15.74%
3Y*
14.94%
5Y*
6.67%
10Y*
6.41%
ALL TIME*
7.26%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

DWX

SPDR S&P International Dividend ETF
$956.39K$1.20M$907.10K

EFAV

iShares MSCI EAFE Min Vol Factor ETF
$49.00M$48.85M$45.04M

DWX vs. EFAV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DWX
SPDR S&P International Dividend ETF		10.64%31.62%2.56%14.74%-12.99%10.56%-5.10%20.26%-11.11%18.91%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		9.53%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%

Correlation

The correlation between DWX and EFAV is 0.91, meaning they have usually moved in the same direction, including during past declines.

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

0.91

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

0.91

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

0.89

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

0.89

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

0.85

The correlation between DWX and EFAV has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

DWX vs. EFAV - Sectors Allocation Comparison

Sectors
DWX
EFAV

Financial Services

17.3%
19.7%

Consumer Defensive

13.1%
12.6%

Communication Services

12.1%
9.1%

Industrials

10.6%
15.7%

Utilities

10.6%
9.0%

Real Estate

10.2%
2.9%

Energy

10.1%
7.7%

Consumer Cyclical

6.6%
5.1%

Healthcare

4.4%
12.2%

Technology

2.9%
4.4%

Basic Materials

2.1%
1.6%

Financial Services

DWX
17.3%
EFAV
19.7%

Consumer Defensive

DWX
13.1%
EFAV
12.6%

Communication Services

DWX
12.1%
EFAV
9.1%

Industrials

DWX
10.6%
EFAV
15.7%

Utilities

DWX
10.6%
EFAV
9.0%

Real Estate

DWX
10.2%
EFAV
2.9%

Energy

DWX
10.1%
EFAV
7.7%

Consumer Cyclical

DWX
6.6%
EFAV
5.1%

Healthcare

DWX
4.4%
EFAV
12.2%

Technology

DWX
2.9%
EFAV
4.4%

Basic Materials

DWX
2.1%
EFAV
1.6%

Compare stocks, funds, or ETFs

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

SPDR S&P International Dividend ETF

iShares MSCI EAFE Min Vol Factor ETF

Often compared with DWX:
DWX vs. SCHDDWX vs. VYMIDWX vs. IDVDWX vs. PIDDWX vs. BKIEDWX vs. SPYDWX vs. IQDF
Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV

Return for Risk

DWX vs. EFAV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DWX
DWX Risk / Return Rank: 6969
Overall Rank
DWX Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
DWX Sortino Ratio Rank: 7474
Sortino Ratio Rank
DWX Omega Ratio Rank: 7676
Omega Ratio Rank
DWX Calmar Ratio Rank: 6464
Calmar Ratio Rank
DWX Martin Ratio Rank: 5757
Martin Ratio Rank
EFAV
EFAV Risk / Return Rank: 6060
Overall Rank
EFAV Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 6363
Sortino Ratio Rank
EFAV Omega Ratio Rank: 6262
Omega Ratio Rank
EFAV Calmar Ratio Rank: 6666
Calmar Ratio Rank
EFAV Martin Ratio Rank: 4747
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.

DWX vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P International Dividend ETF (DWX) 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.

DWXEFAVDifference
Sharpe ratioReturn per unit of total volatility
1.79
1.49

+0.30

Sortino ratioReturn per unit of downside risk
2.49
2.15

+0.34

Omega ratioGain probability vs. loss probability

1.33

1.27

+0.05

Calmar ratioReturn relative to maximum drawdown

2.30

2.37

-0.07

Martin ratioReturn relative to average drawdown

6.96

5.52

+1.45

DWX vs. EFAV - Sharpe Ratio Comparison

The current DWX Sharpe Ratio is 1.79, which is comparable to the EFAV Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of DWX 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

DWX vs. EFAV - Drawdown Comparison

The maximum DWX drawdown since its inception was -66.86%, which is greater than EFAV's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for DWX and EFAV.

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Drawdown Indicators

DWXEFAVDifference

Max Drawdown

Largest peak-to-trough decline

-66.86%

-27.56%

-39.30%

Max Drawdown (1Y)

Largest decline over 1 year

-8.59%

-6.66%

-1.93%

Max Drawdown (3Y)

Largest decline over 3 years

-10.65%

-8.65%

-2.00%

Max Drawdown (5Y)

Largest decline over 5 years

-26.96%

-27.46%

+0.50%

Max Drawdown (10Y)

Largest decline over 10 years

-36.05%

-27.56%

-8.49%

Current Drawdown

Current decline from peak

-1.68%

-1.32%

-0.36%

Average Drawdown

Average peak-to-trough decline

-14.02%

-4.76%

-9.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.83%

2.86%

-0.03%

Volatility

DWX vs. EFAV - Volatility Comparison

SPDR S&P International Dividend ETF (DWX) and iShares MSCI EAFE Min Vol Factor ETF (EFAV) have volatilities of 2.85% and 2.77%, 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.

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Volatility by Period

DWXEFAVDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.85%

2.77%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

9.22%

8.84%

+0.38%

Volatility (1Y)

Calculated over the trailing 1-year period

11.05%

10.60%

+0.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.25%

11.88%

+0.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.72%

13.04%

+1.68%

DWX vs. EFAV - Expense Ratio Comparison

DWX has a 0.45% expense ratio, which is higher than EFAV's 0.20% expense ratio.

Dividends

DWX vs. EFAV - Dividend Comparison

DWX's dividend yield for the trailing twelve months is around 4.12%, more than EFAV's 3.08% yield.

PositionTTM20252024202320222021202020192018201720162015
DWX
SPDR S&P International Dividend ETF		4.12%4.44%4.31%4.12%4.68%3.89%3.84%4.40%5.06%3.85%5.25%5.81%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		3.08%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

With a correlation of 0.91, DWX and EFAV 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.

DWX has higher volatility (2.85%) compared to EFAV (2.77%). In terms of maximum drawdown, DWX dropped -66.86% vs EFAV's -27.56%.

On 10-year performance, DWX leads with 7.29% vs 6.41% for EFAV. On fees, EFAV is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DWX has performed better with a 7.29% return vs 6.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EFAV is cheaper with a 0.20% expense ratio, compared with 0.45% for DWX.

DWX has the higher dividend yield at 4.12%, compared with 3.08% for EFAV.

DWX tracks S&P International Dividend Opportunities Index, while EFAV tracks MSCI EAFE Minimum Volatility (USD) Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.45% for DWX and 0.20% for EFAV.

DWX currently has the higher Sharpe Ratio (1.79 vs 1.49), 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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