PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EFV vs. SPDW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EFV vs. SPDW

Last updated Aug 4, 2026
Documentation

EFV (iShares MSCI EAFE Value ETF) and SPDW (SPDR Portfolio World ex-US ETF) are both Foreign Large Cap Equities funds - EFV tracks the MSCI EAFE Value Index (Net) while SPDW tracks the S&P Developed Ex-U.S. BMI Index. Both are passively managed. Over the past 10 years, EFV returned 10.51%/yr vs 10.02%/yr for SPDW. Their correlation of 0.92 means they have usually moved in the same direction. EFV charges 0.31%/yr vs 0.04%/yr for SPDW.

Performance

EFV vs. SPDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) and SPDR Portfolio World ex-US ETF (SPDW). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EFV achieves a 16.57% return, which is significantly higher than SPDW's 14.95% return. Both investments have delivered pretty close results over the past 10 years, with EFV having a 10.51% annualized return and SPDW not far behind at 10.02%.

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%

SPDW

1D
0.56%
1M
0.54%
6M
8.07%
YTD
14.95%
1Y
30.58%
3Y*
19.18%
5Y*
9.60%
10Y*
10.02%
ALL TIME*
5.12%
*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

SPDW

SPDR Portfolio World ex-US ETF
$136.01M$160.57M$162.83M

EFV vs. SPDW - 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%
SPDW
SPDR Portfolio World ex-US ETF		14.95%34.75%3.55%17.81%-15.98%11.45%9.90%22.41%-14.22%25.81%

Correlation

The correlation between EFV and SPDW is 0.89, 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.

0.89

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

0.93

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

0.94

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

0.94

Correlation (All Time)
Calculated using the full available price history since Apr 26, 2007

0.92

The correlation between EFV and SPDW has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

EFV vs. SPDW - Sectors Allocation Comparison

Sectors
EFV
SPDW

Financial Services

38.8%
18.0%

Industrials

10.0%
10.6%

Consumer Defensive

9.8%
3.0%

Healthcare

7.6%
6.3%

Energy

6.2%
4.9%

Utilities

6.1%
1.4%

Basic Materials

6.0%
5.4%

Consumer Cyclical

5.6%
5.2%

Communication Services

4.1%
1.8%

Technology

3.1%
9.5%

Real Estate

2.7%
1.8%

Financial Services

EFV
38.8%
SPDW
18.0%

Industrials

EFV
10.0%
SPDW
10.6%

Consumer Defensive

EFV
9.8%
SPDW
3.0%

Healthcare

EFV
7.6%
SPDW
6.3%

Energy

EFV
6.2%
SPDW
4.9%

Utilities

EFV
6.1%
SPDW
1.4%

Basic Materials

EFV
6.0%
SPDW
5.4%

Consumer Cyclical

EFV
5.6%
SPDW
5.2%

Communication Services

EFV
4.1%
SPDW
1.8%

Technology

EFV
3.1%
SPDW
9.5%

Real Estate

EFV
2.7%
SPDW
1.8%

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

SPDR Portfolio World ex-US ETF

Often compared with EFV:
EFV vs. VEAEFV vs. EFAVEFV vs. FIVAEFV vs. VOOEFV vs. DFIVXEFV vs. VTRIXEFV vs. SCHF
Often compared with SPDW:
SPDW vs. VEASPDW vs. VXUSSPDW vs. SCHFSPDW vs. VEUSPDW vs. SPYSPDW vs. VOOSPDW vs. IXUS

Return for Risk

EFV vs. SPDW — 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
SPDW
SPDW Risk / Return Rank: 7676
Overall Rank
SPDW Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
SPDW Sortino Ratio Rank: 7676
Sortino Ratio Rank
SPDW Omega Ratio Rank: 7777
Omega Ratio Rank
SPDW Calmar Ratio Rank: 7474
Calmar Ratio Rank
SPDW Martin Ratio Rank: 7878
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. SPDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and SPDR Portfolio World ex-US ETF (SPDW). 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.

EFVSPDWDifference
Sharpe ratioReturn per unit of total volatility
2.42
1.80

+0.62

Sortino ratioReturn per unit of downside risk
3.32
2.49

+0.83

Omega ratioGain probability vs. loss probability

1.43

1.33

+0.11

Calmar ratioReturn relative to maximum drawdown

3.19

2.66

+0.53

Martin ratioReturn relative to average drawdown

11.90

10.04

+1.86

EFV vs. SPDW - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 2.42, which is higher than the SPDW Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of EFV and SPDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EFV vs. SPDW - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than SPDW's maximum drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for EFV and SPDW.

Loading charts...

Drawdown Indicators

EFVSPDWDifference

Max Drawdown

Largest peak-to-trough decline

-63.94%

-60.02%

-3.92%

Max Drawdown (1Y)

Largest decline over 1 year

-10.90%

-11.55%

+0.65%

Max Drawdown (3Y)

Largest decline over 3 years

-13.72%

-13.53%

-0.19%

Max Drawdown (5Y)

Largest decline over 5 years

-25.84%

-30.21%

+4.37%

Max Drawdown (10Y)

Largest decline over 10 years

-43.16%

-34.98%

-8.18%

Current Drawdown

Current decline from peak

-0.27%

-1.56%

+1.29%

Average Drawdown

Average peak-to-trough decline

-14.72%

-12.82%

-1.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.91%

3.05%

-0.14%

Volatility

EFV vs. SPDW - Volatility Comparison

The current volatility for iShares MSCI EAFE Value ETF (EFV) is 3.85%, while SPDR Portfolio World ex-US ETF (SPDW) has a volatility of 5.25%. This indicates that EFV experiences smaller price fluctuations and is considered to be less risky than SPDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EFVSPDWDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

5.25%

-1.40%

Volatility (6M)

Calculated over the trailing 6-month period

12.21%

15.15%

-2.94%

Volatility (1Y)

Calculated over the trailing 1-year period

14.39%

17.09%

-2.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.95%

16.78%

-0.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.46%

17.13%

+0.33%

EFV vs. SPDW - Expense Ratio Comparison

EFV has a 0.31% expense ratio, which is higher than SPDW's 0.04% expense ratio.

Dividends

EFV vs. SPDW - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 4.51%, more than SPDW's 3.01% 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%
SPDW
SPDR Portfolio World ex-US ETF		3.01%3.30%3.19%2.75%3.12%3.04%1.87%3.13%3.08%1.86%3.11%2.78%

Frequently Asked Questions

EFV and SPDW have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPDW has higher volatility (5.25%) compared to EFV (3.85%). In terms of maximum drawdown, EFV dropped -63.94% vs SPDW's -60.02%.

On 10-year performance, EFV leads with 10.51% vs 10.02% for SPDW. On fees, SPDW is cheaper at 0.04% per year. On volatility, EFV has been the lower-risk option at 3.85%. 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 10.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPDW is cheaper with a 0.04% expense ratio, compared with 0.31% for EFV.

EFV has the higher dividend yield at 4.51%, compared with 3.01% for SPDW.

EFV tracks MSCI EAFE Value Index (Net), while SPDW tracks S&P Developed Ex-U.S. BMI Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.31% for EFV and 0.04% for SPDW.

EFV currently has the higher Sharpe Ratio (2.42 vs 1.80), 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

Find the right allocation for EFV and SPDW

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer