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EFV vs. HDEF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EFV vs. HDEF

Last updated Aug 4, 2026
Documentation

EFV (iShares MSCI EAFE Value ETF) and HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) are both Foreign Large Cap Equities funds - EFV tracks the MSCI EAFE Value Index (Net) while HDEF tracks the MSCI EAFE High Dividend Yield US Dollar Hedged Index. Both are passively managed. Over the past 10 years, EFV returned 10.51%/yr vs 9.03%/yr for HDEF. Their 0.80 correlation means they have sometimes moved together and sometimes differently. EFV charges 0.31%/yr vs 0.20%/yr for HDEF.

Performance

EFV vs. HDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EFV achieves a 16.57% return, which is significantly higher than HDEF's 11.93% return. Over the past 10 years, EFV has outperformed HDEF with an annualized return of 10.51%, while HDEF has yielded a comparatively lower 9.03% annualized return.

EFV

1D
0.26%
1M
4.16%
6M
9.61%
YTD
16.57%
1Y
34.58%
3Y*
23.11%
5Y*
14.34%
10Y*
10.51%
ALL TIME*
6.15%

HDEF

1D
-0.35%
1M
3.34%
6M
7.69%
YTD
11.93%
1Y
23.18%
3Y*
18.27%
5Y*
11.74%
10Y*
9.03%
ALL TIME*
8.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EFV

iShares MSCI EAFE Value ETF
$246.44M$344.02M$395.70M

HDEF

Xtrackers MSCI EAFE High Dividend Yield Equity ETF
$3.48M$3.76M$5.72M

EFV vs. HDEF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EFV
iShares MSCI EAFE Value ETF		16.57%42.22%5.35%18.85%-5.22%11.08%-2.97%15.80%-14.67%21.22%
HDEF
Xtrackers MSCI EAFE High Dividend Yield Equity ETF		11.93%33.01%2.85%18.53%-2.51%6.95%-1.90%25.02%-13.74%9.89%

Correlation

The correlation between EFV and HDEF is 0.82, meaning they have usually moved in the same direction, including during past declines.

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

0.82

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

0.90

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

0.92

Correlation (10Y)
Provides a long-term view across more market conditions.

0.85

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2015

0.80

The correlation between EFV and HDEF shifts across timeframes, from 0.80 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.

EFV vs. HDEF - Sectors Allocation Comparison

Sectors
EFV
HDEF

Financial Services

38.8%
27.2%

Industrials

10.0%
7.6%

Consumer Defensive

9.8%
20.0%

Healthcare

7.6%
17.2%

Energy

6.2%
10.4%

Utilities

6.1%
8.1%

Basic Materials

6.0%
0.6%

Consumer Cyclical

5.6%
3.8%

Communication Services

4.1%
3.7%

Technology

3.1%
0.6%

Real Estate

2.7%
0.8%

Financial Services

EFV
38.8%
HDEF
27.2%

Industrials

EFV
10.0%
HDEF
7.6%

Consumer Defensive

EFV
9.8%
HDEF
20.0%

Healthcare

EFV
7.6%
HDEF
17.2%

Energy

EFV
6.2%
HDEF
10.4%

Utilities

EFV
6.1%
HDEF
8.1%

Basic Materials

EFV
6.0%
HDEF
0.6%

Consumer Cyclical

EFV
5.6%
HDEF
3.8%

Communication Services

EFV
4.1%
HDEF
3.7%

Technology

EFV
3.1%
HDEF
0.6%

Real Estate

EFV
2.7%
HDEF
0.8%

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 Value ETF

Xtrackers MSCI EAFE High Dividend Yield Equity ETF

Often compared with EFV:
EFV vs. VEAEFV vs. EFAVEFV vs. FIVAEFV vs. VOOEFV vs. DFIVXEFV vs. VTRIXEFV vs. SCHF
Often compared with HDEF:
HDEF vs. VYMIHDEF vs. SCHYHDEF vs. SCHDHDEF vs. BBINHDEF vs. BKHYHDEF vs. SPDWHDEF vs. VOO

Return for Risk

EFV vs. HDEF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EFV
EFV Risk / Return Rank: 8888
Overall Rank
EFV Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
EFV Sortino Ratio Rank: 9191
Sortino Ratio Rank
EFV Omega Ratio Rank: 9191
Omega Ratio Rank
EFV Calmar Ratio Rank: 8484
Calmar Ratio Rank
EFV Martin Ratio Rank: 8484
Martin Ratio Rank
HDEF
HDEF Risk / Return Rank: 7979
Overall Rank
HDEF Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
HDEF Sortino Ratio Rank: 8383
Sortino Ratio Rank
HDEF Omega Ratio Rank: 8484
Omega Ratio Rank
HDEF Calmar Ratio Rank: 7979
Calmar Ratio Rank
HDEF Martin Ratio Rank: 6666
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.

EFV vs. HDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF). 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.

EFVHDEFDifference
Sharpe ratioReturn per unit of total volatility
2.42
2.01

+0.41

Sortino ratioReturn per unit of downside risk
3.32
2.81

+0.51

Omega ratioGain probability vs. loss probability

1.43

1.37

+0.06

Calmar ratioReturn relative to maximum drawdown

3.19

2.90

+0.29

Martin ratioReturn relative to average drawdown

11.90

8.29

+3.61

EFV vs. HDEF - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 2.42, which is comparable to the HDEF Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of EFV and HDEF, 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

EFV vs. HDEF - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than HDEF's maximum drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for EFV and HDEF.

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Drawdown Indicators

EFVHDEFDifference

Max Drawdown

Largest peak-to-trough decline

-63.94%

-36.43%

-27.51%

Max Drawdown (1Y)

Largest decline over 1 year

-10.90%

-8.03%

-2.87%

Max Drawdown (3Y)

Largest decline over 3 years

-13.72%

-11.15%

-2.57%

Max Drawdown (5Y)

Largest decline over 5 years

-25.84%

-23.63%

-2.21%

Max Drawdown (10Y)

Largest decline over 10 years

-43.16%

-36.43%

-6.73%

Current Drawdown

Current decline from peak

-0.27%

-1.30%

+1.03%

Average Drawdown

Average peak-to-trough decline

-14.72%

-5.02%

-9.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.91%

2.80%

+0.11%

Volatility

EFV vs. HDEF - Volatility Comparison

iShares MSCI EAFE Value ETF (EFV) has a higher volatility of 3.85% compared to Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) at 2.63%. This indicates that EFV's price experiences larger fluctuations and is considered to be riskier than HDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EFVHDEFDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

2.63%

+1.22%

Volatility (6M)

Calculated over the trailing 6-month period

12.21%

9.46%

+2.75%

Volatility (1Y)

Calculated over the trailing 1-year period

14.39%

11.63%

+2.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.95%

14.15%

+1.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.46%

16.14%

+1.32%

EFV vs. HDEF - Expense Ratio Comparison

EFV has a 0.31% expense ratio, which is higher than HDEF's 0.20% expense ratio.

Dividends

EFV vs. HDEF - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 4.51%, more than HDEF's 3.71% yield.

PositionTTM20252024202320222021202020192018201720162015
EFV
iShares MSCI EAFE Value ETF		4.51%4.16%4.66%4.36%4.17%4.07%2.42%4.62%4.56%3.56%3.28%3.59%
HDEF
Xtrackers MSCI EAFE High Dividend Yield Equity ETF		3.71%3.88%4.53%4.38%5.41%4.76%3.93%4.20%3.55%3.38%9.53%1.87%

Frequently Asked Questions

EFV and HDEF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EFV has higher volatility (3.85%) compared to HDEF (2.63%). In terms of maximum drawdown, EFV dropped -63.94% vs HDEF's -36.43%.

On 10-year performance, EFV leads with 10.51% vs 9.03% for HDEF. On fees, HDEF is cheaper at 0.20% per year. On volatility, HDEF has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EFV has performed better with a 10.51% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDEF is cheaper with a 0.20% expense ratio, compared with 0.31% for EFV.

EFV has the higher dividend yield at 4.51%, compared with 3.71% for HDEF.

EFV tracks MSCI EAFE Value Index (Net), while HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index. They also come from different issuers: iShares and Deutsche Bank. Their fees differ too: 0.31% for EFV and 0.20% for HDEF.

EFV currently has the higher Sharpe Ratio (2.42 vs 2.01), 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.

Portfolio Optimizer

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