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EFAV vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EFAV vs. QUAL

Last updated Jun 16, 2026

EFAV (iShares Edge MSCI Min Vol EAFE ETF) and QUAL (iShares MSCI USA Quality Factor ETF) are both exchange-traded funds - EFAV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Minimum Volatility Index, while QUAL is a Large Cap Blend Equities fund tracking the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 10 years, EFAV returned 6.30%/yr vs 14.62%/yr for QUAL. A 0.67 correlation means they provide meaningful diversification when combined. EFAV charges 0.20%/yr vs 0.15%/yr for QUAL.

Performance

EFAV vs. QUAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI Min Vol EAFE ETF (EFAV) and iShares MSCI USA Quality Factor ETF (QUAL). 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 4.26% return, which is significantly lower than QUAL's 10.79% return. Over the past 10 years, EFAV has underperformed QUAL with an annualized return of 6.30%, while QUAL has yielded a comparatively higher 14.62% annualized return.

EFAV

1D
-1.03%
1M
-0.36%
YTD
4.26%
6M
4.77%
1Y
9.52%
3Y*
12.45%
5Y*
6.05%
10Y*
6.30%

QUAL

1D
1.24%
1M
4.34%
YTD
10.79%
6M
10.54%
1Y
24.39%
3Y*
19.23%
5Y*
12.44%
10Y*
14.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EFAV vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EFAV
iShares Edge MSCI Min Vol EAFE ETF		4.26%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%
QUAL
iShares MSCI USA Quality Factor ETF		10.79%12.65%22.29%30.88%-20.50%26.94%17.04%33.89%-5.70%22.26%

Correlation

The correlation between EFAV and QUAL is 0.51, 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

0.51

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

0.50

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

0.60

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

0.65

Correlation (All Time)
Calculated using the full available price history since Jul 18, 2013

0.67

The correlation between EFAV and QUAL shifts across timeframes, from 0.50 (3 years) to 0.67 (all time), reflecting how their relationship changes across market environments.

EFAV vs. QUAL - Sectors Allocation Comparison

Sectors
EFAV
QUAL

Financial Services

19.4%
10.8%

Industrials

15.9%
7.2%

Healthcare

12.0%
8.7%

Consumer Defensive

11.9%
4.4%

Communication Services

9.6%
11.8%

Utilities

8.8%
2.1%

Energy

8.3%
3.2%

Consumer Cyclical

5.0%
9.3%

Technology

4.6%
38.8%

Real Estate

3.0%
1.8%

Basic Materials

1.5%
1.9%

Financial Services

EFAV
19.4%
QUAL
10.8%

Industrials

EFAV
15.9%
QUAL
7.2%

Healthcare

EFAV
12.0%
QUAL
8.7%

Consumer Defensive

EFAV
11.9%
QUAL
4.4%

Communication Services

EFAV
9.6%
QUAL
11.8%

Utilities

EFAV
8.8%
QUAL
2.1%

Energy

EFAV
8.3%
QUAL
3.2%

Consumer Cyclical

EFAV
5.0%
QUAL
9.3%

Technology

EFAV
4.6%
QUAL
38.8%

Real Estate

EFAV
3.0%
QUAL
1.8%

Basic Materials

EFAV
1.5%
QUAL
1.9%

Compare stocks, funds, or ETFs

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

iShares Edge MSCI Min Vol EAFE ETF

iShares MSCI USA Quality Factor ETF

Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

EFAV vs. QUAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EFAV
EFAV Risk / Return Rank: 2929
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: 3333
Calmar Ratio Rank
EFAV Martin Ratio Rank: 3030
Martin Ratio Rank
QUAL
QUAL Risk / Return Rank: 6868
Overall Rank
QUAL Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 7171
Sortino Ratio Rank
QUAL Omega Ratio Rank: 6767
Omega Ratio Rank
QUAL Calmar Ratio Rank: 6060
Calmar Ratio Rank
QUAL Martin Ratio Rank: 7373
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. QUAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Min Vol EAFE ETF (EFAV) and iShares MSCI USA Quality Factor ETF (QUAL). 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.

EFAVQUALDifference
Sharpe ratioReturn per unit of total volatility
0.91
2.04

-1.13

Sortino ratioReturn per unit of downside risk
1.33
2.87

-1.55

Omega ratioGain probability vs. loss probability

1.17

1.36

-0.19

Calmar ratioReturn relative to maximum drawdown

1.48

2.71

-1.23

Martin ratioReturn relative to average drawdown

3.86

12.37

-8.51

EFAV vs. QUAL - Sharpe Ratio Comparison

The current EFAV Sharpe Ratio is 0.91, which is lower than the QUAL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of EFAV and QUAL, 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. QUAL - Drawdown Comparison

The maximum EFAV drawdown since its inception was -27.56%, smaller than the maximum QUAL drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for EFAV and QUAL.

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Drawdown Indicators

EFAVQUALDifference

Max Drawdown

Largest peak-to-trough decline

-27.56%

-34.06%

+6.50%

Max Drawdown (1Y)

Largest decline over 1 year

-6.46%

-9.03%

+2.57%

Max Drawdown (3Y)

Largest decline over 3 years

-8.75%

-18.00%

+9.25%

Max Drawdown (5Y)

Largest decline over 5 years

-27.46%

-28.23%

+0.77%

Max Drawdown (10Y)

Largest decline over 10 years

-27.56%

-34.06%

+6.50%

Current Drawdown

Current decline from peak

-5.21%

0.00%

-5.21%

Average Drawdown

Average peak-to-trough decline

-4.77%

-4.10%

-0.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.47%

1.98%

+0.49%

Volatility

EFAV vs. QUAL - Volatility Comparison

The current volatility for iShares Edge MSCI Min Vol EAFE ETF (EFAV) is 3.50%, while iShares MSCI USA Quality Factor ETF (QUAL) has a volatility of 3.76%. This indicates that EFAV experiences smaller price fluctuations and is considered to be less risky than QUAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EFAVQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.50%

3.76%

-0.26%

Volatility (6M)

Calculated over the trailing 6-month period

8.47%

9.47%

-1.00%

Volatility (1Y)

Calculated over the trailing 1-year period

10.56%

12.06%

-1.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.84%

17.38%

-5.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.20%

18.12%

-4.92%

EFAV vs. QUAL - Expense Ratio Comparison

EFAV has a 0.20% expense ratio, which is higher than QUAL's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EFAV vs. QUAL - Dividend Comparison

EFAV's dividend yield for the trailing twelve months is around 5.04%, more than QUAL's 1.04% yield.

PositionTTM20252024202320222021202020192018201720162015
EFAV
iShares Edge MSCI Min Vol EAFE ETF		5.04%3.20%3.24%3.08%2.53%2.47%1.33%4.19%3.34%2.45%3.94%2.49%
QUAL
iShares MSCI USA Quality Factor ETF		1.04%0.94%1.02%1.23%1.59%1.20%1.39%1.60%2.00%1.76%1.96%1.63%

Frequently Asked Questions

EFAV and QUAL have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QUAL has higher volatility (3.76%) compared to EFAV (3.50%). In terms of maximum drawdown, EFAV dropped -27.56% vs QUAL's -34.06%.

On 10-year performance, QUAL leads with 14.62% vs 6.30% for EFAV. On fees, QUAL is cheaper at 0.15% per year. On volatility, EFAV has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QUAL has performed better with a 14.62% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QUAL is cheaper with a 0.15% expense ratio, compared with 0.20% for EFAV.

EFAV has the higher dividend yield at 5.04%, compared with 1.04% for QUAL.

EFAV is categorized as Foreign Large Cap Equities, while QUAL is Large Cap Blend Equities. EFAV tracks MSCI EAFE Minimum Volatility Index, while QUAL tracks MSCI USA Sector Neutral Quality Index. Their fees differ too: 0.20% for EFAV and 0.15% for QUAL.

QUAL currently has the higher Sharpe Ratio (2.04 vs 0.91), 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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