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EFAX vs. EIS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EFAX vs. EIS

Last updated Aug 2, 2026
Documentation

EFAX (SPDR MSCI EAFE Fossil Fuel Free ETF) and EIS (iShares MSCI Israel ETF) are both Foreign Large Cap Equities funds - EFAX tracks the MSCI EAFE ex Fossil Fuels Index while EIS tracks the MSCI Israel Capped Investable Market Index (Net). Both are passively managed. Over the past 5 years, EFAX returned 8.38%/yr vs 12.72%/yr for EIS. Their 0.59 correlation means they have sometimes moved together and sometimes differently. EFAX charges 0.20%/yr vs 0.59%/yr for EIS.

Performance

EFAX vs. EIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) and iShares MSCI Israel ETF (EIS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EFAX achieves a 9.92% return, which is significantly higher than EIS's 9.12% return.

EFAX

1D
-0.65%
1M
0.42%
6M
5.51%
YTD
9.92%
1Y
22.63%
3Y*
15.98%
5Y*
8.38%
10Y*
—
ALL TIME*
9.19%

EIS

1D
0.23%
1M
-0.94%
6M
0.90%
YTD
9.12%
1Y
33.25%
3Y*
29.33%
5Y*
12.72%
10Y*
10.90%
ALL TIME*
6.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EFAX

SPDR MSCI EAFE Fossil Fuel Free ETF
$530.63K$1.05M$1.10M

EIS

iShares MSCI Israel ETF
$7.58M$8.69M$11.04M

EFAX vs. EIS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EFAX
SPDR MSCI EAFE Fossil Fuel Free ETF		9.92%31.30%4.78%18.02%-16.72%10.50%9.57%23.52%-14.78%23.93%
EIS
iShares MSCI Israel ETF		9.12%45.11%34.50%5.48%-27.05%22.83%12.01%20.93%-4.84%12.77%

Correlation

The correlation between EFAX and EIS is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.55

Correlation (3Y)
Balances recent behavior with more history.

0.57

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.62

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2016

0.59

The correlation between EFAX and EIS has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.

EFAX vs. EIS - Sectors Allocation Comparison

Sectors
EFAX
EIS

Financial Services

26.6%
34.4%

Industrials

18.9%
10.9%

Technology

13.8%
18.7%

Healthcare

11.2%
9.4%

Consumer Cyclical

8.0%
2.5%

Consumer Defensive

7.3%
2.3%

Communication Services

4.8%
2.5%

Basic Materials

4.6%
1.6%

Utilities

3.1%
6.7%

Real Estate

1.8%
8.4%

Energy

0.1%
2.0%

Financial Services

EFAX
26.6%
EIS
34.4%

Industrials

EFAX
18.9%
EIS
10.9%

Technology

EFAX
13.8%
EIS
18.7%

Healthcare

EFAX
11.2%
EIS
9.4%

Consumer Cyclical

EFAX
8.0%
EIS
2.5%

Consumer Defensive

EFAX
7.3%
EIS
2.3%

Communication Services

EFAX
4.8%
EIS
2.5%

Basic Materials

EFAX
4.6%
EIS
1.6%

Utilities

EFAX
3.1%
EIS
6.7%

Real Estate

EFAX
1.8%
EIS
8.4%

Energy

EFAX
0.1%
EIS
2.0%

Compare stocks, funds, or ETFs

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

SPDR MSCI EAFE Fossil Fuel Free ETF

iShares MSCI Israel ETF

Often compared with EFAX:
EFAX vs. SPYEFAX vs. VSGXEFAX vs. SPYXEFAX vs. EFAVEFAX vs. VXUSEFAX vs. BBINEFAX vs. VEU
Often compared with EIS:
EIS vs. ISRAEIS vs. IZRLEIS vs. SPYEIS vs. VOOEIS vs. ITEQEIS vs. QQQEIS vs. EPU

Return for Risk

EFAX vs. EIS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EFAX
EFAX Risk / Return Rank: 5656
Overall Rank
EFAX Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EFAX Sortino Ratio Rank: 5858
Sortino Ratio Rank
EFAX Omega Ratio Rank: 5757
Omega Ratio Rank
EFAX Calmar Ratio Rank: 5050
Calmar Ratio Rank
EFAX Martin Ratio Rank: 5757
Martin Ratio Rank
EIS
EIS Risk / Return Rank: 5757
Overall Rank
EIS Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
EIS Sortino Ratio Rank: 5959
Sortino Ratio Rank
EIS Omega Ratio Rank: 5656
Omega Ratio Rank
EIS Calmar Ratio Rank: 6060
Calmar Ratio Rank
EIS Martin Ratio Rank: 5252
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EFAX vs. EIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) and iShares MSCI Israel ETF (EIS). 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.

EFAXEISDifference
Sharpe ratioReturn per unit of total volatility
1.37
1.38

-0.02

Sortino ratioReturn per unit of downside risk
1.99
2.01

-0.01

Omega ratioGain probability vs. loss probability

1.25

1.25

0.00

Calmar ratioReturn relative to maximum drawdown

1.81

2.10

-0.28

Martin ratioReturn relative to average drawdown

6.72

6.09

+0.63

EFAX vs. EIS - Sharpe Ratio Comparison

The current EFAX Sharpe Ratio is 1.37, which is comparable to the EIS Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of EFAX and EIS, 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

EFAX vs. EIS - Drawdown Comparison

The maximum EFAX drawdown since its inception was -32.53%, smaller than the maximum EIS drawdown of -51.94%. Use the drawdown chart below to compare losses from any high point for EFAX and EIS.

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Drawdown Indicators

EFAXEISDifference

Max Drawdown

Largest peak-to-trough decline

-32.53%

-51.94%

+19.41%

Max Drawdown (1Y)

Largest decline over 1 year

-12.38%

-15.37%

+2.99%

Max Drawdown (3Y)

Largest decline over 3 years

-13.52%

-21.75%

+8.23%

Max Drawdown (5Y)

Largest decline over 5 years

-31.67%

-41.88%

+10.21%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.88%

—

Current Drawdown

Current decline from peak

-0.65%

-12.80%

+12.15%

Average Drawdown

Average peak-to-trough decline

-6.88%

-13.88%

+7.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

5.29%

-1.95%

Volatility

EFAX vs. EIS - Volatility Comparison

The current volatility for SPDR MSCI EAFE Fossil Fuel Free ETF (EFAX) is 4.92%, while iShares MSCI Israel ETF (EIS) has a volatility of 6.91%. This indicates that EFAX experiences smaller price fluctuations and is considered to be less risky than EIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EFAXEISDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.92%

6.91%

-1.99%

Volatility (6M)

Calculated over the trailing 6-month period

14.42%

18.77%

-4.35%

Volatility (1Y)

Calculated over the trailing 1-year period

16.46%

23.38%

-6.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.83%

22.33%

-5.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.12%

21.30%

-4.18%

EFAX vs. EIS - Expense Ratio Comparison

EFAX has a 0.20% expense ratio, which is lower than EIS's 0.59% expense ratio.

Dividends

EFAX vs. EIS - Dividend Comparison

EFAX's dividend yield for the trailing twelve months is around 3.12%, more than EIS's 1.56% yield.

PositionTTM20252024202320222021202020192018201720162015
EFAX
SPDR MSCI EAFE Fossil Fuel Free ETF		3.12%3.31%2.74%2.71%2.81%2.58%1.69%2.71%3.05%2.89%0.26%0.00%
EIS
iShares MSCI Israel ETF		1.56%1.44%1.38%1.39%1.66%1.04%0.16%2.06%0.87%2.02%1.78%2.55%

Frequently Asked Questions

EFAX and EIS have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EIS has higher volatility (6.91%) compared to EFAX (4.92%). In terms of maximum drawdown, EFAX dropped -32.53% vs EIS's -51.94%.

On 5-year performance, EIS leads with 12.72% vs 8.38% for EFAX. On fees, EFAX is cheaper at 0.20% per year. On volatility, EFAX has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EIS has performed better with a 12.72% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EFAX is cheaper with a 0.20% expense ratio, compared with 0.59% for EIS.

EFAX has the higher dividend yield at 3.12%, compared with 1.56% for EIS.

EFAX tracks MSCI EAFE ex Fossil Fuels Index, while EIS tracks MSCI Israel Capped Investable Market Index (Net). They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for EFAX and 0.59% for EIS.

EIS currently has the higher Sharpe Ratio (1.38 vs 1.37), 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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