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EPI vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPI vs. IEFA

Last updated Jun 13, 2026

EPI (WisdomTree India Earnings Fund) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - EPI is a Asia Pacific Equities fund tracking the WisdomTree India Earnings Index, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 10 years, EPI returned 9.31%/yr vs 9.90%/yr for IEFA. A 0.59 correlation means they provide meaningful diversification when combined. EPI charges 0.84%/yr vs 0.07%/yr for IEFA.

Performance

EPI vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree India Earnings Fund (EPI) and iShares Core MSCI EAFE ETF (IEFA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EPI achieves a -9.12% return, which is significantly lower than IEFA's 9.51% return. Over the past 10 years, EPI has underperformed IEFA with an annualized return of 9.31%, while IEFA has yielded a comparatively higher 9.90% annualized return.

EPI

1D
0.65%
1M
-0.33%
YTD
-9.12%
6M
-6.55%
1Y
-10.30%
3Y*
7.36%
5Y*
5.53%
10Y*
9.31%

IEFA

1D
0.18%
1M
0.85%
YTD
9.51%
6M
11.08%
1Y
20.89%
3Y*
16.31%
5Y*
8.10%
10Y*
9.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EPI vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPI
WisdomTree India Earnings Fund		-9.12%2.25%10.70%26.03%-4.74%26.41%18.55%1.53%-9.88%39.14%
IEFA
iShares Core MSCI EAFE ETF		9.51%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between EPI and IEFA is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.56

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2012

0.59

The correlation between EPI and IEFA has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

EPI vs. IEFA - Sectors Allocation Comparison

Sectors
EPI
IEFA

Financial Services

23.4%
22.5%

Energy

17.3%
3.8%

Basic Materials

13.5%
7.0%

Industrials

9.7%
20.1%

Utilities

8.4%
3.6%

Technology

8.3%
10.8%

Consumer Cyclical

7.5%
8.0%

Healthcare

5.5%
9.5%

Consumer Defensive

3.5%
6.6%

Communication Services

2.0%
4.4%

Real Estate

0.9%
3.0%

Financial Services

EPI
23.4%
IEFA
22.5%

Energy

EPI
17.3%
IEFA
3.8%

Basic Materials

EPI
13.5%
IEFA
7.0%

Industrials

EPI
9.7%
IEFA
20.1%

Utilities

EPI
8.4%
IEFA
3.6%

Technology

EPI
8.3%
IEFA
10.8%

Consumer Cyclical

EPI
7.5%
IEFA
8.0%

Healthcare

EPI
5.5%
IEFA
9.5%

Consumer Defensive

EPI
3.5%
IEFA
6.6%

Communication Services

EPI
2.0%
IEFA
4.4%

Real Estate

EPI
0.9%
IEFA
3.0%

Compare stocks, funds, or ETFs

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

WisdomTree India Earnings Fund

iShares Core MSCI EAFE ETF

Often compared with EPI:
EPI vs. INDAEPI vs. FLINEPI vs. INDYEPI vs. SMINEPI vs. NFTYEPI vs. GLINEPI vs. INCO
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

EPI vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EPI
EPI Risk / Return Rank: 44
Overall Rank
EPI Sharpe Ratio Rank: 44
Sharpe Ratio Rank
EPI Sortino Ratio Rank: 44
Sortino Ratio Rank
EPI Omega Ratio Rank: 44
Omega Ratio Rank
EPI Calmar Ratio Rank: 55
Calmar Ratio Rank
EPI Martin Ratio Rank: 22
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4444
Overall Rank
IEFA Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4444
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4343
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4242
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4848
Martin Ratio Rank
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.

EPI vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) and iShares Core MSCI EAFE ETF (IEFA). 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.

EPIIEFADifference
Sharpe ratioReturn per unit of total volatility
-0.69
1.35

-2.04

Sortino ratioReturn per unit of downside risk
-0.90
1.97

-2.87

Omega ratioGain probability vs. loss probability

0.90

1.25

-0.35

Calmar ratioReturn relative to maximum drawdown

-0.61

1.83

-2.44

Martin ratioReturn relative to average drawdown

-1.44

6.93

-8.37

EPI vs. IEFA - Sharpe Ratio Comparison

The current EPI Sharpe Ratio is -0.69, which is lower than the IEFA Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of EPI and IEFA, 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

EPI vs. IEFA - Drawdown Comparison

The maximum EPI drawdown since its inception was -66.21%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for EPI and IEFA.

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Drawdown Indicators

EPIIEFADifference

Max Drawdown

Largest peak-to-trough decline

-66.21%

-34.78%

-31.43%

Max Drawdown (1Y)

Largest decline over 1 year

-16.88%

-11.50%

-5.38%

Max Drawdown (3Y)

Largest decline over 3 years

-21.89%

-13.76%

-8.13%

Max Drawdown (5Y)

Largest decline over 5 years

-21.89%

-30.41%

+8.52%

Max Drawdown (10Y)

Largest decline over 10 years

-50.29%

-34.78%

-15.51%

Current Drawdown

Current decline from peak

-17.00%

-0.60%

-16.40%

Average Drawdown

Average peak-to-trough decline

-18.65%

-6.68%

-11.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.17%

3.03%

+4.14%

Volatility

EPI vs. IEFA - Volatility Comparison

The current volatility for WisdomTree India Earnings Fund (EPI) is 4.09%, while iShares Core MSCI EAFE ETF (IEFA) has a volatility of 5.50%. This indicates that EPI experiences smaller price fluctuations and is considered to be less risky than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EPIIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.09%

5.50%

-1.41%

Volatility (6M)

Calculated over the trailing 6-month period

12.88%

13.11%

-0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

15.07%

15.54%

-0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.23%

16.61%

-0.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.35%

17.31%

+3.04%

EPI vs. IEFA - Expense Ratio Comparison

EPI has a 0.84% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

EPI vs. IEFA - Dividend Comparison

EPI has not paid dividends to shareholders, while IEFA's dividend yield for the trailing twelve months is around 3.24%.

PositionTTM20252024202320222021202020192018201720162015
EPI
WisdomTree India Earnings Fund		0.00%0.00%0.27%0.15%6.01%1.18%0.78%1.17%1.18%0.85%1.05%1.20%
IEFA
iShares Core MSCI EAFE ETF		3.24%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%

Frequently Asked Questions

EPI and IEFA have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA has higher volatility (5.50%) compared to EPI (4.09%). In terms of maximum drawdown, EPI dropped -66.21% vs IEFA's -34.78%.

On 10-year performance, IEFA leads with 9.90% vs 9.31% for EPI. On fees, IEFA is cheaper at 0.07% per year. On volatility, EPI has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IEFA has performed better with a 9.90% return vs 9.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEFA is cheaper with a 0.07% expense ratio, compared with 0.84% for EPI.

IEFA has the higher dividend yield at 3.24%, compared with 0.00% for EPI.

EPI is categorized as Asia Pacific Equities, while IEFA is Foreign Large Cap Equities. EPI tracks WisdomTree India Earnings Index, while IEFA tracks MSCI EAFE IMI Index (Net). They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.84% for EPI and 0.07% for IEFA.

IEFA currently has the higher Sharpe Ratio (1.35 vs -0.69), 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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