EFA vs. LIRAX
EFA (iShares MSCI EAFE ETF) and LIRAX (BlackRock LifePath Index Retirement Fund Investor A Shares) are both funds - EFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net), while LIRAX is a Target Retirement Date fund managed by BlackRock. Over the past 10 years, EFA returned 9.84%/yr vs 5.66%/yr for LIRAX. Their correlation of 0.82 suggests significant overlap in exposure. EFA charges 0.32%/yr vs 0.44%/yr for LIRAX.
Performance
EFA vs. LIRAX - Performance Comparison
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Returns By Period
In the year-to-date period, EFA achieves a 9.36% return, which is significantly higher than LIRAX's 4.83% return. Over the past 10 years, EFA has outperformed LIRAX with an annualized return of 9.84%, while LIRAX has yielded a comparatively lower 5.66% annualized return.
EFA
- 1D
- 0.28%
- 1M
- 1.51%
- YTD
- 9.36%
- 6M
- 10.80%
- 1Y
- 21.90%
- 3Y*
- 16.14%
- 5Y*
- 8.36%
- 10Y*
- 9.84%
LIRAX
- 1D
- 1.17%
- 1M
- -0.00%
- YTD
- 4.83%
- 6M
- 5.33%
- 1Y
- 12.84%
- 3Y*
- 9.39%
- 5Y*
- 3.57%
- 10Y*
- 5.66%
EFA vs. LIRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFA iShares MSCI EAFE ETF | 9.36% | 31.55% | 3.49% | 18.36% | -14.39% | 11.45% | 7.60% | 22.04% | -13.82% | 25.07% |
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares | 4.83% | 12.09% | 5.84% | 11.22% | -15.49% | 6.42% | 11.05% | 15.60% | -3.79% | 10.43% |
Correlation
The correlation between EFA and LIRAX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 31, 2011 | 0.82 |
The correlation between EFA and LIRAX has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
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Return for Risk
EFA vs. LIRAX — Risk / Return Rank
EFA
LIRAX
EFA vs. LIRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE ETF (EFA) and BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX). 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.
| EFA | LIRAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.42 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.95 | -1.16 |
| Martin ratioReturn relative to average drawdown | 6.67 | 12.83 | -6.16 |
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Drawdowns
EFA vs. LIRAX - Drawdown Comparison
The maximum EFA drawdown since its inception was -61.04%, which is greater than LIRAX's maximum drawdown of -20.67%. Use the drawdown chart below to compare losses from any high point for EFA and LIRAX.
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Drawdown Indicators
| EFA | LIRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.04% | -20.67% | -40.37% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -4.29% | -7.13% |
Max Drawdown (3Y)Largest decline over 3 years | -14.05% | -7.63% | -6.42% |
Max Drawdown (5Y)Largest decline over 5 years | -29.53% | -20.67% | -8.86% |
Max Drawdown (10Y)Largest decline over 10 years | -34.19% | -20.67% | -13.52% |
Current DrawdownCurrent decline from peak | -0.61% | -0.83% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -11.92% | -2.94% | -8.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.98% | +2.09% |
Volatility
EFA vs. LIRAX - Volatility Comparison
iShares MSCI EAFE ETF (EFA) has a higher volatility of 5.50% compared to BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX) at 2.57%. This indicates that EFA's price experiences larger fluctuations and is considered to be riskier than LIRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFA | LIRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 2.57% | +2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 4.92% | +8.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 5.89% | +9.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 7.87% | +8.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.27% | 7.53% | +9.74% |
EFA vs. LIRAX - Expense Ratio Comparison
EFA has a 0.32% expense ratio, which is lower than LIRAX's 0.44% expense ratio.
Dividends
EFA vs. LIRAX - Dividend Comparison
EFA's dividend yield for the trailing twelve months is around 3.09%, less than LIRAX's 3.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFA iShares MSCI EAFE ETF | 3.09% | 3.38% | 3.24% | 2.98% | 2.69% | 3.33% | 2.13% | 3.10% | 3.39% | 2.57% | 3.07% | 2.76% |
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares | 3.37% | 3.53% | 1.82% | 2.37% | 2.42% | 2.42% | 1.70% | 2.22% | 2.18% | 1.99% | 2.23% | 2.67% |
Frequently Asked Questions
EFA and LIRAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFA has higher volatility (5.50%) compared to LIRAX (2.57%). In terms of maximum drawdown, EFA dropped -61.04% vs LIRAX's -20.67%.
LIRAX currently has the higher Sharpe Ratio (2.15 vs 1.31), 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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