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EFAV vs. HDMV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EFAV vs. HDMV

Last updated Jun 5, 2026

EFAV (iShares Edge MSCI Min Vol EAFE ETF) and HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) are both Foreign Large Cap Equities funds. EFAV is passively managed, while HDMV is actively managed. Over the past 5 years, EFAV returned 6.29%/yr vs 6.35%/yr for HDMV. Their correlation of 0.92 suggests significant overlap in exposure. EFAV charges 0.20%/yr vs 0.80%/yr for HDMV.

Performance

EFAV vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI Min Vol EAFE ETF (EFAV) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with EFAV at 4.42% and HDMV at 4.42%.

EFAV

1D
0.57%
1M
-1.23%
YTD
4.42%
6M
5.83%
1Y
9.78%
3Y*
13.24%
5Y*
6.29%
10Y*
5.92%

HDMV

1D
0.19%
1M
-2.13%
YTD
4.42%
6M
6.56%
1Y
9.31%
3Y*
12.87%
5Y*
6.35%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EFAV vs. HDMV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EFAV
iShares Edge MSCI Min Vol EAFE ETF		4.42%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%
HDMV
First Trust Horizon Managed Volatility Developed Intl ETF		4.42%29.31%2.99%9.62%-11.47%7.39%-9.42%15.00%-7.60%27.49%

Correlation

The correlation between EFAV and HDMV is 0.92, 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

0.92

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

0.94

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

0.93

Correlation (All Time)
Calculated using the full available price history since Aug 29, 2016

0.92

The correlation between EFAV and HDMV has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

EFAV vs. HDMV - Sectors Allocation Comparison

Sectors
EFAV
HDMV

Financial Services

19.9%
24.4%

Industrials

15.1%
15.2%

Healthcare

12.4%
3.1%

Consumer Defensive

11.5%
13.0%

Communication Services

9.7%
9.4%

Utilities

9.1%
14.6%

Energy

8.2%
1.8%

Consumer Cyclical

5.2%
2.7%

Technology

4.5%
0.9%

Real Estate

2.9%
13.8%

Basic Materials

1.6%
1.0%

Financial Services

EFAV
19.9%
HDMV
24.4%

Industrials

EFAV
15.1%
HDMV
15.2%

Healthcare

EFAV
12.4%
HDMV
3.1%

Consumer Defensive

EFAV
11.5%
HDMV
13.0%

Communication Services

EFAV
9.7%
HDMV
9.4%

Utilities

EFAV
9.1%
HDMV
14.6%

Energy

EFAV
8.2%
HDMV
1.8%

Consumer Cyclical

EFAV
5.2%
HDMV
2.7%

Technology

EFAV
4.5%
HDMV
0.9%

Real Estate

EFAV
2.9%
HDMV
13.8%

Basic Materials

EFAV
1.6%
HDMV
1.0%

Compare stocks, funds, or ETFs

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iShares Edge MSCI Min Vol EAFE ETF

First Trust Horizon Managed Volatility Developed Intl ETF

Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV
Often compared with HDMV:
HDMV vs. BKGIHDMV vs. FSKLXHDMV vs. FOCTHDMV vs. IYZHDMV vs. SCHYHDMV vs. DYNFHDMV vs. QLVD

Return for Risk

EFAV vs. HDMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EFAV
EFAV Risk / Return Rank: 2828
Overall Rank
EFAV Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 2626
Sortino Ratio Rank
EFAV Omega Ratio Rank: 2626
Omega Ratio Rank
EFAV Calmar Ratio Rank: 3232
Calmar Ratio Rank
EFAV Martin Ratio Rank: 3030
Martin Ratio Rank
HDMV
HDMV Risk / Return Rank: 2424
Overall Rank
HDMV Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
HDMV Sortino Ratio Rank: 2323
Sortino Ratio Rank
HDMV Omega Ratio Rank: 2424
Omega Ratio Rank
HDMV Calmar Ratio Rank: 2323
Calmar Ratio Rank
HDMV Martin Ratio Rank: 2525
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. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Min Vol EAFE ETF (EFAV) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). 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.

EFAVHDMVDifference
Sharpe ratioReturn per unit of total volatility
0.95
0.84

+0.11

Sortino ratioReturn per unit of downside risk
1.38
1.20

+0.18

Omega ratioGain probability vs. loss probability

1.17

1.16

+0.02

Calmar ratioReturn relative to maximum drawdown

1.52

1.07

+0.45

Martin ratioReturn relative to average drawdown

4.22

3.31

+0.92

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. HDMV - Sharpe Ratio Comparison

The current EFAV Sharpe Ratio is 0.95, which is comparable to the HDMV Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of EFAV and HDMV, 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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Sharpe Ratios by Period

EFAVHDMVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.95

0.84

+0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.53

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.41

+0.13

Drawdowns

EFAV vs. HDMV - Drawdown Comparison

The maximum EFAV drawdown since its inception was -27.56%, smaller than the maximum HDMV drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for EFAV and HDMV.

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Drawdown Indicators

EFAVHDMVDifference

Max Drawdown

Largest peak-to-trough decline

-27.56%

-32.01%

+4.45%

Max Drawdown (1Y)

Largest decline over 1 year

-6.46%

-8.73%

+2.27%

Max Drawdown (3Y)

Largest decline over 3 years

-8.75%

-10.33%

+1.58%

Max Drawdown (5Y)

Largest decline over 5 years

-27.46%

-24.11%

-3.35%

Max Drawdown (10Y)

Largest decline over 10 years

-27.56%

—

—

Current Drawdown

Current decline from peak

-5.07%

-5.87%

+0.80%

Average Drawdown

Average peak-to-trough decline

-4.77%

-6.77%

+2.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.32%

2.82%

-0.50%

Volatility

EFAV vs. HDMV - Volatility Comparison

The current volatility for iShares Edge MSCI Min Vol EAFE ETF (EFAV) is 3.14%, while First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) has a volatility of 3.69%. This indicates that EFAV experiences smaller price fluctuations and is considered to be less risky than HDMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EFAVHDMVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.14%

3.69%

-0.55%

Volatility (6M)

Calculated over the trailing 6-month period

8.19%

9.38%

-1.19%

Volatility (1Y)

Calculated over the trailing 1-year period

10.32%

11.12%

-0.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.79%

12.04%

-0.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.21%

13.23%

-0.02%

EFAV vs. HDMV - Expense Ratio Comparison

EFAV has a 0.20% expense ratio, which is lower than HDMV's 0.80% expense ratio.

Dividends

EFAV vs. HDMV - Dividend Comparison

EFAV's dividend yield for the trailing twelve months is around 3.06%, less than HDMV's 4.69% yield.

PositionTTM20252024202320222021202020192018201720162015
EFAV
iShares Edge MSCI Min Vol EAFE ETF		3.06%3.20%3.24%3.08%2.53%2.47%1.33%4.19%3.34%2.45%3.94%2.49%
HDMV
First Trust Horizon Managed Volatility Developed Intl ETF		4.69%5.09%3.24%3.14%3.53%3.11%1.45%3.63%2.88%3.23%0.18%0.00%

Frequently Asked Questions

With a correlation of 0.92, EFAV and HDMV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

HDMV has higher volatility (3.69%) compared to EFAV (3.14%). In terms of maximum drawdown, EFAV dropped -27.56% vs HDMV's -32.01%.

On 5-year performance, HDMV leads with 6.35% vs 6.29% for EFAV. On fees, EFAV is cheaper at 0.20% per year. On volatility, EFAV has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, HDMV has performed better with a 6.35% return vs 6.29%. 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 0.80% for HDMV.

HDMV has the higher dividend yield at 4.69%, compared with 3.06% for EFAV.

They also come from different issuers: iShares and First Trust. Their fees differ too: 0.20% for EFAV and 0.80% for HDMV.

EFAV currently has the higher Sharpe Ratio (0.95 vs 0.84), 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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