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EFAV vs. DBAW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EFAV vs. DBAW

Last updated Jun 26, 2026

EFAV (iShares MSCI EAFE Min Vol Factor ETF) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both Foreign Large Cap Equities funds - EFAV tracks the MSCI EAFE Minimum Volatility (USD) Index while DBAW tracks the MSCI ACWI ex USA US Dollar Hedged Index. Both are passively managed. Over the past 10 years, EFAV returned 6.44%/yr vs 12.19%/yr for DBAW. A 0.71 correlation means they provide meaningful diversification when combined. EFAV charges 0.20%/yr vs 0.41%/yr for DBAW.

Performance

EFAV vs. DBAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Min Vol Factor ETF (EFAV) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EFAV achieves a 2.87% return, which is significantly lower than DBAW's 17.04% return. Over the past 10 years, EFAV has underperformed DBAW with an annualized return of 6.44%, while DBAW has yielded a comparatively higher 12.19% annualized return.

EFAV

1D
0.09%
1M
-2.63%
YTD
2.87%
6M
2.52%
1Y
8.94%
3Y*
12.70%
5Y*
5.82%
10Y*
6.44%

DBAW

1D
0.81%
1M
1.36%
YTD
17.04%
6M
17.08%
1Y
35.72%
3Y*
21.70%
5Y*
11.32%
10Y*
12.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EFAV vs. DBAW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EFAV
iShares MSCI EAFE Min Vol Factor ETF		2.87%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		17.04%26.47%14.35%16.26%-13.35%13.08%7.44%22.96%-10.38%18.79%

Correlation

The correlation between EFAV and DBAW is 0.56, 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

0.56

Correlation (3Y)
Calculated over the trailing 3-year period

0.62

Correlation (5Y)
Calculated over the trailing 5-year period

0.68

Correlation (10Y)
Calculated over the trailing 10-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Jan 27, 2014

0.71

The correlation between EFAV and DBAW shifts across timeframes, from 0.56 (1 year) to 0.72 (10 years), reflecting how their relationship changes across market environments.

EFAV vs. DBAW - Sectors Allocation Comparison

Sectors
EFAV
DBAW

Financial Services

19.4%
23.2%

Industrials

15.9%
14.3%

Healthcare

12.0%
6.8%

Consumer Defensive

11.9%
5.0%

Communication Services

9.6%
4.9%

Utilities

8.8%
2.9%

Energy

8.3%
4.8%

Consumer Cyclical

5.0%
7.6%

Technology

4.6%
22.4%

Real Estate

3.0%
1.4%

Basic Materials

1.5%
6.9%

Financial Services

EFAV
19.4%
DBAW
23.2%

Industrials

EFAV
15.9%
DBAW
14.3%

Healthcare

EFAV
12.0%
DBAW
6.8%

Consumer Defensive

EFAV
11.9%
DBAW
5.0%

Communication Services

EFAV
9.6%
DBAW
4.9%

Utilities

EFAV
8.8%
DBAW
2.9%

Energy

EFAV
8.3%
DBAW
4.8%

Consumer Cyclical

EFAV
5.0%
DBAW
7.6%

Technology

EFAV
4.6%
DBAW
22.4%

Real Estate

EFAV
3.0%
DBAW
1.4%

Basic Materials

EFAV
1.5%
DBAW
6.9%

Compare stocks, funds, or ETFs

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

iShares MSCI EAFE Min Vol Factor ETF

Xtrackers MSCI All World ex US Hedged Equity ETF

Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV
Often compared with DBAW:
DBAW vs. HAWXDBAW vs. HFXIDBAW vs. GSIEDBAW vs. MDIJXDBAW vs. BROIXDBAW vs. BKIEDBAW vs. DXJ

Return for Risk

EFAV vs. DBAW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EFAV
EFAV Risk / Return Rank: 2626
Overall Rank
EFAV Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 2424
Sortino Ratio Rank
EFAV Omega Ratio Rank: 2424
Omega Ratio Rank
EFAV Calmar Ratio Rank: 3030
Calmar Ratio Rank
EFAV Martin Ratio Rank: 2727
Martin Ratio Rank
DBAW
DBAW Risk / Return Rank: 8787
Overall Rank
DBAW Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
DBAW Sortino Ratio Rank: 8787
Sortino Ratio Rank
DBAW Omega Ratio Rank: 9090
Omega Ratio Rank
DBAW Calmar Ratio Rank: 8484
Calmar Ratio Rank
DBAW Martin Ratio Rank: 8787
Martin Ratio Rank
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.

EFAV vs. DBAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Min Vol Factor ETF (EFAV) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.

EFAVDBAWDifference
Sharpe ratioReturn per unit of total volatility
0.85
2.57

-1.71

Sortino ratioReturn per unit of downside risk
1.25
3.42

-2.17

Omega ratioGain probability vs. loss probability

1.16

1.50

-0.34

Calmar ratioReturn relative to maximum drawdown

1.35

3.99

-2.64

Martin ratioReturn relative to average drawdown

3.35

16.12

-12.77

EFAV vs. DBAW - Sharpe Ratio Comparison

The current EFAV Sharpe Ratio is 0.85, which is lower than the DBAW Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of EFAV and DBAW, 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

EFAV vs. DBAW - Drawdown Comparison

The maximum EFAV drawdown since its inception was -27.56%, smaller than the maximum DBAW drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for EFAV and DBAW.

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Drawdown Indicators

EFAVDBAWDifference

Max Drawdown

Largest peak-to-trough decline

-27.56%

-31.44%

+3.88%

Max Drawdown (1Y)

Largest decline over 1 year

-6.66%

-9.00%

+2.34%

Max Drawdown (3Y)

Largest decline over 3 years

-8.75%

-14.11%

+5.36%

Max Drawdown (5Y)

Largest decline over 5 years

-27.46%

-17.87%

-9.59%

Max Drawdown (10Y)

Largest decline over 10 years

-27.56%

-31.44%

+3.88%

Current Drawdown

Current decline from peak

-6.48%

-1.95%

-4.53%

Average Drawdown

Average peak-to-trough decline

-4.77%

-4.98%

+0.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

2.22%

+0.45%

Volatility

EFAV vs. DBAW - Volatility Comparison

The current volatility for iShares MSCI EAFE Min Vol Factor ETF (EFAV) is 3.06%, while Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) has a volatility of 6.13%. This indicates that EFAV experiences smaller price fluctuations and is considered to be less risky than DBAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EFAVDBAWDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.06%

6.13%

-3.07%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

12.33%

-3.80%

Volatility (1Y)

Calculated over the trailing 1-year period

10.54%

13.99%

-3.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.82%

13.97%

-2.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.05%

15.21%

-2.16%

EFAV vs. DBAW - Expense Ratio Comparison

EFAV has a 0.20% expense ratio, which is lower than DBAW's 0.41% expense ratio.

Dividends

EFAV vs. DBAW - Dividend Comparison

EFAV's dividend yield for the trailing twelve months is around 3.28%, more than DBAW's 1.68% yield.

PositionTTM20252024202320222021202020192018201720162015
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		1.68%3.83%1.70%3.45%8.81%2.05%2.08%2.91%2.93%2.41%1.99%5.74%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		3.28%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

EFAV and DBAW have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBAW has higher volatility (6.13%) compared to EFAV (3.06%). In terms of maximum drawdown, EFAV dropped -27.56% vs DBAW's -31.44%.

On 10-year performance, DBAW leads with 12.19% vs 6.44% for EFAV. On fees, EFAV is cheaper at 0.20% per year. On volatility, EFAV has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DBAW has performed better with a 12.19% return vs 6.44%. 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 0.41% for DBAW.

EFAV has the higher dividend yield at 3.28%, compared with 1.68% for DBAW.

EFAV tracks MSCI EAFE Minimum Volatility (USD) Index, while DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index. They also come from different issuers: iShares and Deutsche Bank. Their fees differ too: 0.20% for EFAV and 0.41% for DBAW.

DBAW currently has the higher Sharpe Ratio (2.57 vs 0.85), 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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