EFV vs. VNQI
EFV (iShares MSCI EAFE Value ETF) and VNQI (Vanguard Global ex-U.S. Real Estate ETF) are both exchange-traded funds - EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index (Net), while VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index. Both are passively managed. Over the past 10 years, EFV returned 10.27%/yr vs 2.53%/yr for VNQI. Their correlation of 0.81 suggests significant overlap in exposure. EFV charges 0.31%/yr vs 0.12%/yr for VNQI.
Performance
EFV vs. VNQI - Performance Comparison
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Returns By Period
In the year-to-date period, EFV achieves a 10.38% return, which is significantly higher than VNQI's -2.07% return. Over the past 10 years, EFV has outperformed VNQI with an annualized return of 10.27%, while VNQI has yielded a comparatively lower 2.53% annualized return.
EFV
- 1D
- -0.81%
- 1M
- 0.81%
- YTD
- 10.38%
- 6M
- 12.23%
- 1Y
- 30.17%
- 3Y*
- 21.13%
- 5Y*
- 13.24%
- 10Y*
- 10.27%
VNQI
- 1D
- -1.77%
- 1M
- -2.09%
- YTD
- -2.07%
- 6M
- -0.50%
- 1Y
- 4.96%
- 3Y*
- 7.58%
- 5Y*
- -1.19%
- 10Y*
- 2.53%
EFV vs. VNQI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFV iShares MSCI EAFE Value ETF | 10.38% | 42.22% | 5.35% | 18.85% | -5.22% | 11.08% | -2.97% | 15.80% | -14.67% | 21.22% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | -2.07% | 21.38% | -2.22% | 6.99% | -22.94% | 5.93% | -7.22% | 21.59% | -9.44% | 26.91% |
Correlation
The correlation between EFV and VNQI is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010 | 0.81 |
The correlation between EFV and VNQI has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.
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Return for Risk
EFV vs. VNQI — Risk / Return Rank
EFV
VNQI
EFV vs. VNQI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) and Vanguard Global ex-U.S. Real Estate ETF (VNQI). 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 | VNQI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.08 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 0.34 | +2.44 |
| Martin ratioReturn relative to average drawdown | 10.27 | 0.94 | +9.34 |
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Drawdowns
EFV vs. VNQI - Drawdown Comparison
The maximum EFV drawdown since its inception was -63.94%, which is greater than VNQI's maximum drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for EFV and VNQI.
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Drawdown Indicators
| EFV | VNQI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.94% | -38.35% | -25.59% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -14.78% | +3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -13.72% | -16.35% | +2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -25.84% | -34.92% | +9.08% |
Max Drawdown (10Y)Largest decline over 10 years | -43.16% | -38.35% | -4.81% |
Current DrawdownCurrent decline from peak | -1.40% | -11.56% | +10.16% |
Average DrawdownAverage peak-to-trough decline | -14.80% | -10.89% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 5.31% | -2.37% |
Volatility
EFV vs. VNQI - Volatility Comparison
The current volatility for iShares MSCI EAFE Value ETF (EFV) is 4.32%, while Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a volatility of 4.57%. This indicates that EFV experiences smaller price fluctuations and is considered to be less risky than VNQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFV | VNQI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 4.57% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 11.96% | 11.89% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.53% | 13.78% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.03% | 15.56% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.84% | 16.08% | +1.76% |
EFV vs. VNQI - Expense Ratio Comparison
EFV has a 0.31% expense ratio, which is higher than VNQI's 0.12% expense ratio.
Dividends
EFV vs. VNQI - Dividend Comparison
EFV's dividend yield for the trailing twelve months is around 4.76%, which matches VNQI's 4.80% 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% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | 4.80% | 4.70% | 5.16% | 3.74% | 0.57% | 6.48% | 0.93% | 7.58% | 4.62% | 3.86% | 5.18% | 2.86% |
Frequently Asked Questions
EFV and VNQI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNQI has higher volatility (4.57%) compared to EFV (4.32%). In terms of maximum drawdown, EFV dropped -63.94% vs VNQI's -38.35%.
On 10-year performance, EFV leads with 10.27% vs 2.53% for VNQI. On fees, VNQI is cheaper at 0.12% per year. On volatility, EFV has been the lower-risk option at 4.32%. 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 10.27% return vs 2.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQI is cheaper with a 0.12% expense ratio, compared with 0.31% for EFV.
VNQI has the higher dividend yield at 4.80%, compared with 4.76% for EFV.
EFV is categorized as Foreign Large Cap Equities, while VNQI is REIT. EFV tracks MSCI EAFE Value Index (Net), while VNQI tracks S&P Global ex-U.S. Property Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.31% for EFV and 0.12% for VNQI.
EFV currently has the higher Sharpe Ratio (2.09 vs 0.36), 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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