EFAV vs. DWX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Edge MSCI Min Vol EAFE ETF (EFAV) and SPDR S&P International Dividend ETF (DWX).

EFAV and DWX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EFAV is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Minimum Volatility Index. It was launched on Oct 18, 2011. DWX is a passively managed fund by State Street that tracks the performance of the S&P International Dividend Opportunities Index. It was launched on Feb 12, 2008. Both EFAV and DWX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EFAV vs. DWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI Min Vol EAFE ETF (EFAV) and SPDR S&P International Dividend ETF (DWX). The values are adjusted to include any dividend payments, if applicable.

EFAV vs. DWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFAV iShares Edge MSCI Min Vol EAFE ETF	6.56%	26.00%	5.30%	12.52%	-15.11%	7.20%	-0.06%	16.67%	-5.74%	22.24%
DWX SPDR S&P International Dividend ETF	4.69%	31.62%	2.56%	14.74%	-12.99%	10.56%	-5.10%	20.26%	-11.11%	18.91%

Returns By Period

In the year-to-date period, EFAV achieves a 6.56% return, which is significantly higher than DWX's 4.69% return. Over the past 10 years, EFAV has underperformed DWX with an annualized return of 6.52%, while DWX has yielded a comparatively higher 7.51% annualized return.

EFAV

• 1D: 0.59%
• 1M: -1.60%
• YTD: 6.56%
• 6M: 9.32%
• 1Y: 21.69%
• 3Y*: 14.35%
• 5Y*: 7.66%
• 10Y*: 6.52%

DWX

• 1D: 0.38%
• 1M: -3.99%
• YTD: 4.69%
• 6M: 8.87%
• 1Y: 24.39%
• 3Y*: 15.02%
• 5Y*: 8.15%
• 10Y*: 7.51%

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

EFAV vs. DWX - Expense Ratio Comparison

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

DWX

SPDR S&P International Dividend ETF

EFAV

iShares Edge MSCI Min Vol EAFE ETF

Return for Risk

EFAV vs. DWX — Risk / Return Rank

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

EFAV

EFAV Risk / Return Rank: 87
EFAV Sharpe Ratio Rank: 85
EFAV Sortino Ratio Rank: 86
EFAV Omega Ratio Rank: 84
EFAV Calmar Ratio Rank: 89
EFAV Martin Ratio Rank: 88

DWX

DWX Risk / Return Rank: 88
DWX Sharpe Ratio Rank: 89
DWX Sortino Ratio Rank: 89
DWX Omega Ratio Rank: 88
DWX Calmar Ratio Rank: 87
DWX Martin Ratio Rank: 87

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. DWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Min Vol EAFE ETF (EFAV) and SPDR S&P International Dividend ETF (DWX). 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.

	EFAV	DWX	Difference
Sharpe ratio Return per unit of total volatility	1.78	1.96	-0.17
Sortino ratio Return per unit of downside risk	2.38	2.58	-0.20
Omega ratio Gain probability vs. loss probability	1.34	1.37	-0.03
Calmar ratio Return relative to maximum drawdown	3.06	2.90	+0.16
Martin ratio Return relative to average drawdown	11.18	10.97	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFAV vs. DWX - Sharpe Ratio Comparison

The current EFAV Sharpe Ratio is 1.78, which is comparable to the DWX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of EFAV and DWX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EFAV	DWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	1.96	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.68	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.50	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.12	+0.44

Correlation

The correlation between EFAV and DWX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EFAV vs. DWX - Dividend Comparison

EFAV's dividend yield for the trailing twelve months is around 3.00%, less than DWX's 4.26% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAV iShares Edge MSCI Min Vol EAFE ETF	3.00%	3.20%	3.24%	3.08%	2.53%	2.47%	1.33%	4.19%	3.34%	2.45%	3.94%	2.49%
DWX SPDR S&P International Dividend ETF	4.26%	4.44%	4.31%	4.12%	4.68%	3.89%	3.84%	4.40%	5.06%	3.85%	5.25%	5.81%

Drawdowns

EFAV vs. DWX - Drawdown Comparison

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

Drawdown Indicators

	EFAV	DWX	Difference
Max Drawdown Largest peak-to-trough decline	-27.56%	-66.86%	+39.30%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-8.59%	+1.45%
Max Drawdown (5Y) Largest decline over 5 years	-27.46%	-26.96%	-0.50%
Max Drawdown (10Y) Largest decline over 10 years	-27.56%	-36.05%	+8.49%
Current Drawdown Current decline from peak	-3.12%	-5.51%	+2.39%
Average Drawdown Average peak-to-trough decline	-4.78%	-14.23%	+9.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.27%	-0.32%

Volatility

EFAV vs. DWX - Volatility Comparison

iShares Edge MSCI Min Vol EAFE ETF (EFAV) and SPDR S&P International Dividend ETF (DWX) have volatilities of 4.83% and 5.07%, 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.

Volatility by Period

	EFAV	DWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	5.07%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.57%	8.13%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	12.53%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.74%	12.13%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.21%	15.21%	-2.00%