EFV vs. VEA

Last updated Jun 23, 2026

EFV (iShares MSCI EAFE Value ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds - EFV tracks the MSCI EAFE Value Index (Net) while VEA tracks the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, EFV returned 10.72%/yr vs 11.06%/yr for VEA. With a 0.96 correlation, they move nearly in lockstep. EFV charges 0.31%/yr vs 0.03%/yr for VEA.

Performance

EFV vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFV achieves a 10.44% return, which is significantly lower than VEA's 16.69% return. Both investments have delivered pretty close results over the past 10 years, with EFV having a 10.72% annualized return and VEA not far ahead at 11.06%.

EFV

• 1D: 0.23%
• 1M: 0.27%
• YTD: 10.44%
• 6M: 10.98%
• 1Y: 30.78%
• 3Y*: 22.39%
• 5Y*: 13.04%
• 10Y*: 10.72%

VEA

• 1D: 0.11%
• 1M: 3.28%
• YTD: 16.69%
• 6M: 17.33%
• 1Y: 35.42%
• 3Y*: 20.72%
• 5Y*: 10.37%
• 10Y*: 11.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EFV vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFV iShares MSCI EAFE Value ETF	10.44%	42.22%	5.35%	18.85%	-5.22%	11.08%	-2.97%	15.80%	-14.67%	21.22%
VEA Vanguard FTSE Developed Markets ETF	16.69%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between EFV and VEA is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.97

The correlation between EFV and VEA has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

EFV vs. VEA - Sectors Allocation Comparison

Sectors	EFV	VEA
Financial Services	37.7%	22.3%
Industrials	10.4%	17.5%
Consumer Defensive	9.2%	5.5%
Healthcare	7.4%	7.6%
Energy	6.8%	4.7%
Basic Materials	6.4%	7.5%
Consumer Cyclical	6.1%	7.4%
Utilities	5.9%	3.0%
Communication Services	4.4%	3.2%
Technology	3.0%	16.6%
Real Estate	2.8%	2.5%

Return for Risk

EFV vs. VEA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EFV

EFV Risk / Return Rank: 64
EFV Sharpe Ratio Rank: 68
EFV Sortino Ratio Rank: 67
EFV Omega Ratio Rank: 67
EFV Calmar Ratio Rank: 59
EFV Martin Ratio Rank: 60

VEA

VEA Risk / Return Rank: 67
VEA Sharpe Ratio Rank: 69
VEA Sortino Ratio Rank: 67
VEA Omega Ratio Rank: 69
VEA Calmar Ratio Rank: 64
VEA Martin Ratio Rank: 66

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.

EFV vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	EFV	VEA	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.16	-0.02
Sortino ratio: Return per unit of downside risk	2.95	2.93	+0.02
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.84	3.06	-0.22
Martin ratio: Return relative to average drawdown	10.47	11.80	-1.33

EFV vs. VEA - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 2.14, which is comparable to the VEA Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of EFV and VEA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EFV vs. VEA - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than VEA's maximum drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for EFV and VEA.

Drawdown Indicators

	EFV	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-63.94%	-60.68%	-3.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.90%	-11.63%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-13.72%	-13.45%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-25.84%	-29.71%	+3.87%
Max Drawdown (10Y) Largest decline over 10 years	-43.16%	-35.73%	-7.43%
Current Drawdown Current decline from peak	-1.35%	0.00%	-1.35%
Average Drawdown Average peak-to-trough decline	-14.80%	-13.26%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.01%	-0.06%

Volatility

EFV vs. VEA - Volatility Comparison

The current volatility for iShares MSCI EAFE Value ETF (EFV) is 4.04%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 6.32%. This indicates that EFV experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFV	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	6.32%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	14.39%	-2.45%
Volatility (1Y) Calculated over the trailing 1-year period	14.47%	16.52%	-2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	16.71%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.80%	17.38%	+0.42%

EFV vs. VEA - Expense Ratio Comparison

EFV has a 0.31% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

EFV vs. VEA - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 4.76%, more than VEA's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFV iShares MSCI EAFE Value ETF	4.76%	4.16%	4.66%	4.36%	4.17%	4.07%	2.42%	4.62%	4.56%	3.56%	3.28%	3.59%
VEA Vanguard FTSE Developed Markets ETF	2.50%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both EFV and VEA in my portfolio?

With a correlation of 0.91, EFV and VEA 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.

Which is riskier, EFV or VEA?

VEA has higher volatility (6.32%) compared to EFV (4.04%). In terms of maximum drawdown, EFV dropped -63.94% vs VEA's -60.68%.

Which ETF is better, EFV or VEA?

On 10-year performance, VEA leads with 11.06% vs 10.72% for EFV. On fees, VEA is cheaper at 0.03% per year. On volatility, EFV has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFV or VEA?

Over the 10-year period, VEA has performed better with a 11.06% return vs 10.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFV or VEA?

VEA is cheaper with a 0.03% expense ratio, compared with 0.31% for EFV.

Which ETF pays a higher dividend yield, EFV or VEA?

EFV has the higher dividend yield at 4.76%, compared with 2.50% for VEA.

What is the main difference between EFV and VEA?

EFV tracks MSCI EAFE Value Index (Net), while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.31% for EFV and 0.03% for VEA.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (2.16 vs 2.14), 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.