EFAD vs. VEA

Last updated Jun 4, 2026

EFAD (ProShares MSCI EAFE Dividend Growers ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds - EFAD tracks the MSCI EAFE Dividend Masters Index while VEA tracks the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, EFAD returned 4.08%/yr vs 10.17%/yr for VEA. Their correlation of 0.89 suggests significant overlap in exposure. EFAD charges 0.50%/yr vs 0.03%/yr for VEA.

Performance

EFAD vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares MSCI EAFE Dividend Growers ETF (EFAD) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFAD achieves a 1.98% return, which is significantly lower than VEA's 14.92% return. Over the past 10 years, EFAD has underperformed VEA with an annualized return of 4.08%, while VEA has yielded a comparatively higher 10.17% annualized return.

EFAD

• 1D: -0.94%
• 1M: 1.01%
• YTD: 1.98%
• 6M: 2.48%
• 1Y: 2.83%
• 3Y*: 6.48%
• 5Y*: 0.93%
• 10Y*: 4.08%

VEA

• 1D: -0.90%
• 1M: 5.54%
• YTD: 14.92%
• 6M: 18.15%
• 1Y: 32.48%
• 3Y*: 19.77%
• 5Y*: 9.60%
• 10Y*: 10.17%

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

EFAD vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFAD ProShares MSCI EAFE Dividend Growers ETF	1.98%	15.87%	-1.88%	11.91%	-21.34%	8.41%	8.75%	24.66%	-11.71%	22.14%
VEA Vanguard FTSE Developed Markets ETF	14.92%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between EFAD and VEA is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Aug 22, 2014	0.89

The correlation between EFAD and VEA has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

EFAD vs. VEA - Sectors Allocation Comparison

Sectors	EFAD	VEA
Healthcare	18.1%	8.2%
Industrials	15.6%	19.2%
Technology	15.5%	13.8%
Financial Services	13.9%	23.3%
Consumer Defensive	9.8%	5.6%
Basic Materials	8.7%	7.5%
Utilities	8.4%	3.3%
Communication Services	6.4%	3.4%
Real Estate	3.6%	2.7%
Energy	1.3%	5.4%
Consumer Cyclical	-	7.5%

Return for Risk

EFAD vs. VEA — Risk / Return Rank

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

EFAD

EFAD Risk / Return Rank: 12
EFAD Sharpe Ratio Rank: 11
EFAD Sortino Ratio Rank: 11
EFAD Omega Ratio Rank: 11
EFAD Calmar Ratio Rank: 12
EFAD Martin Ratio Rank: 13

VEA

VEA Risk / Return Rank: 59
VEA Sharpe Ratio Rank: 60
VEA Sortino Ratio Rank: 60
VEA Omega Ratio Rank: 60
VEA Calmar Ratio Rank: 55
VEA Martin Ratio Rank: 60

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.

EFAD vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI EAFE Dividend Growers ETF (EFAD) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	EFAD	VEA	Difference
Sharpe ratio: Return per unit of total volatility	0.21	2.09	-1.87
Sortino ratio: Return per unit of downside risk	0.39	2.87	-2.48
Omega ratio: Gain probability vs. loss probability	1.05	1.38	-0.33
Calmar ratio: Return relative to maximum drawdown	0.28	2.81	-2.53
Martin ratio: Return relative to average drawdown	0.92	10.94	-10.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFAD vs. VEA - Sharpe Ratio Comparison

The current EFAD Sharpe Ratio is 0.21, which is lower than the VEA Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of EFAD and VEA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EFAD	VEA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	2.09	-1.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.58	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.59	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.25	-0.07

Drawdowns

EFAD vs. VEA - Drawdown Comparison

The maximum EFAD drawdown since its inception was -35.74%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for EFAD and VEA.

Drawdown Indicators

	EFAD	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-35.74%	-60.68%	+24.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.18%	-11.63%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.35%	-13.45%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-35.74%	-29.71%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	-35.74%	-35.73%	-0.01%
Current Drawdown Current decline from peak	-3.70%	-0.90%	-2.80%
Average Drawdown Average peak-to-trough decline	-10.32%	-13.29%	+2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.98%	+0.11%

Volatility

EFAD vs. VEA - Volatility Comparison

The current volatility for ProShares MSCI EAFE Dividend Growers ETF (EFAD) is 3.94%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 5.66%. This indicates that EFAD experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFAD	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	5.66%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	10.67%	13.32%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	15.66%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	16.55%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	17.36%	-1.69%

EFAD vs. VEA - Expense Ratio Comparison

EFAD has a 0.50% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

EFAD vs. VEA - Dividend Comparison

EFAD's dividend yield for the trailing twelve months is around 2.82%, more than VEA's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAD ProShares MSCI EAFE Dividend Growers ETF	2.82%	2.83%	2.64%	2.29%	1.76%	2.98%	1.49%	2.05%	2.37%	2.42%	2.88%	1.94%
VEA Vanguard FTSE Developed Markets ETF	2.62%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both EFAD and VEA in my portfolio?

EFAD and VEA have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFAD or VEA?

VEA has higher volatility (5.66%) compared to EFAD (3.94%). In terms of maximum drawdown, EFAD dropped -35.74% vs VEA's -60.68%.

Which ETF is better, EFAD or VEA?

On 10-year performance, VEA leads with 10.17% vs 4.08% for EFAD. On fees, VEA is cheaper at 0.03% per year. On volatility, EFAD has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFAD or VEA?

Over the 10-year period, VEA has performed better with a 10.17% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFAD or VEA?

VEA is cheaper with a 0.03% expense ratio, compared with 0.50% for EFAD.

Which ETF pays a higher dividend yield, EFAD or VEA?

EFAD has the higher dividend yield at 2.82%, compared with 2.62% for VEA.

What is the main difference between EFAD and VEA?

EFAD tracks MSCI EAFE Dividend Masters Index, while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.50% for EFAD and 0.03% for VEA.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (2.09 vs 0.21), 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.