EFA vs. IEAC.AS
EFA (iShares MSCI EAFE ETF) and IEAC.AS (iShares Core € Corp Bond UCITS ETF) are both exchange-traded funds - EFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net), while IEAC.AS is a Corporate Bonds fund tracking the Bloomberg Euro Corporate Bond Index. Both are passively managed. Over the past 10 years, EFA returned 9.28%/yr vs 1.24%/yr for IEAC.AS. At a 0.45 correlation, their price movements are largely independent. EFA charges 0.32%/yr vs 0.20%/yr for IEAC.AS.
Performance
EFA vs. IEAC.AS - Performance Comparison
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Different Trading Currencies
EFA is traded in USD, while IEAC.AS is traded in EUR. To make them comparable, the IEAC.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EFA achieves a 7.13% return, which is significantly higher than IEAC.AS's -0.58% return. Over the past 10 years, EFA has outperformed IEAC.AS with an annualized return of 9.28%, while IEAC.AS has yielded a comparatively lower 1.24% annualized return.
EFA
- 1D
- 0.61%
- 1M
- -1.04%
- YTD
- 7.13%
- 6M
- 9.67%
- 1Y
- 18.74%
- 3Y*
- 15.87%
- 5Y*
- 8.03%
- 10Y*
- 9.28%
IEAC.AS
- 1D
- 0.21%
- 1M
- -1.08%
- YTD
- -0.58%
- 6M
- 0.68%
- 1Y
- 4.02%
- 3Y*
- 7.44%
- 5Y*
- -0.86%
- 10Y*
- 1.24%
EFA vs. IEAC.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFA iShares MSCI EAFE ETF | 7.13% | 31.55% | 3.49% | 18.36% | -14.39% | 11.45% | 7.60% | 22.04% | -13.82% | 25.07% |
IEAC.AS iShares Core € Corp Bond UCITS ETF | -0.58% | 16.90% | -2.06% | 11.14% | -18.82% | -7.76% | 11.63% | 4.22% | -6.12% | 16.65% |
Correlation
The correlation between EFA and IEAC.AS is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 7, 2009 | 0.45 |
The correlation between EFA and IEAC.AS shifts across timeframes, from 0.45 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EFA vs. IEAC.AS — Risk / Return Rank
EFA
IEAC.AS
EFA vs. IEAC.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE ETF (EFA) and iShares Core € Corp Bond UCITS ETF (IEAC.AS). 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.
| EFA | IEAC.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.09 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.57 | +1.07 |
| Martin ratioReturn relative to average drawdown | 6.15 | 1.58 | +4.58 |
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
| EFA | IEAC.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 0.49 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | -0.09 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.14 | +0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.24 | +0.07 |
Drawdowns
EFA vs. IEAC.AS - Drawdown Comparison
The maximum EFA drawdown since its inception was -61.04%, which is greater than IEAC.AS's maximum drawdown of -34.76%. Use the drawdown chart below to compare losses from any high point for EFA and IEAC.AS.
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Drawdown Indicators
| EFA | IEAC.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.04% | -34.76% | -26.28% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -6.52% | -4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -14.05% | -8.38% | -5.67% |
Max Drawdown (5Y)Largest decline over 5 years | -29.53% | -33.53% | +4.00% |
Max Drawdown (10Y)Largest decline over 10 years | -34.19% | -34.76% | +0.57% |
Current DrawdownCurrent decline from peak | -2.63% | -6.16% | +3.53% |
Average DrawdownAverage peak-to-trough decline | -11.93% | -9.92% | -2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 2.38% | +0.67% |
Volatility
EFA vs. IEAC.AS - Volatility Comparison
iShares MSCI EAFE ETF (EFA) has a higher volatility of 4.54% compared to iShares Core € Corp Bond UCITS ETF (IEAC.AS) at 2.00%. This indicates that EFA's price experiences larger fluctuations and is considered to be riskier than IEAC.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFA | IEAC.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 2.00% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 12.82% | 5.72% | +7.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.31% | 7.61% | +7.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.52% | 9.28% | +7.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.28% | 8.69% | +8.59% |
EFA vs. IEAC.AS - Expense Ratio Comparison
EFA has a 0.32% expense ratio, which is higher than IEAC.AS's 0.20% expense ratio.
Dividends
EFA vs. IEAC.AS - Dividend Comparison
EFA's dividend yield for the trailing twelve months is around 3.16%, less than IEAC.AS's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFA iShares MSCI EAFE ETF | 3.16% | 3.38% | 3.24% | 2.98% | 2.69% | 3.33% | 2.13% | 3.10% | 3.39% | 2.57% | 3.07% | 2.76% |
IEAC.AS iShares Core € Corp Bond UCITS ETF | 3.33% | 3.29% | 3.39% | 2.51% | 0.84% | 0.81% | 0.84% | 1.10% | 0.98% | 1.52% | 1.66% | 0.90% |
Frequently Asked Questions
EFA and IEAC.AS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEAC.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEAC.AS is cheaper with a 0.20% expense ratio, compared with 0.32% for EFA.
EFA is categorized as Foreign Large Cap Equities, while IEAC.AS is Corporate Bonds. EFA tracks MSCI EAFE Index (Net), while IEAC.AS tracks Bloomberg Euro Corporate Bond Index. Their fees differ too: 0.32% for EFA and 0.20% for IEAC.AS.
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