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ESGD vs. EFAV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ESGD vs. EFAV

Last updated Jun 5, 2026

ESGD (iShares ESG Aware MSCI EAFE ETF) and EFAV (iShares Edge MSCI Min Vol EAFE ETF) are both Foreign Large Cap Equities funds from iShares - ESGD tracks the MSCI EAFE Extended ESG Focus Index while EFAV tracks the MSCI EAFE Minimum Volatility Index. Both are passively managed. Over the past 5 years, ESGD returned 8.06%/yr vs 6.29%/yr for EFAV. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

ESGD vs. EFAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Aware MSCI EAFE ETF (ESGD) and iShares Edge MSCI Min Vol EAFE ETF (EFAV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ESGD achieves a 9.10% return, which is significantly higher than EFAV's 4.42% return.

ESGD

1D
0.73%
1M
2.89%
YTD
9.10%
6M
10.97%
1Y
20.58%
3Y*
16.40%
5Y*
8.06%
10Y*
—

EFAV

1D
0.57%
1M
-1.23%
YTD
4.42%
6M
5.83%
1Y
9.78%
3Y*
13.24%
5Y*
6.29%
10Y*
5.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ESGD vs. EFAV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ESGD
iShares ESG Aware MSCI EAFE ETF		9.10%29.63%3.95%18.53%-15.17%11.79%8.20%23.12%-13.33%25.10%
EFAV
iShares Edge MSCI Min Vol EAFE ETF		4.42%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%

Correlation

The correlation between ESGD and EFAV 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

0.85

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

0.88

Correlation (All Time)
Calculated using the full available price history since Jul 1, 2016

0.87

The correlation between ESGD and EFAV has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

ESGD vs. EFAV - Sectors Allocation Comparison

Sectors
ESGD
EFAV

Financial Services

26.4%
19.9%

Industrials

19.2%
15.1%

Technology

11.7%
4.5%

Healthcare

10.3%
12.4%

Consumer Cyclical

7.6%
5.2%

Consumer Defensive

6.4%
11.5%

Basic Materials

4.6%
1.6%

Communication Services

4.0%
9.7%

Energy

3.9%
8.2%

Utilities

3.9%
9.1%

Real Estate

2.0%
2.9%

Financial Services

ESGD
26.4%
EFAV
19.9%

Industrials

ESGD
19.2%
EFAV
15.1%

Technology

ESGD
11.7%
EFAV
4.5%

Healthcare

ESGD
10.3%
EFAV
12.4%

Consumer Cyclical

ESGD
7.6%
EFAV
5.2%

Consumer Defensive

ESGD
6.4%
EFAV
11.5%

Basic Materials

ESGD
4.6%
EFAV
1.6%

Communication Services

ESGD
4.0%
EFAV
9.7%

Energy

ESGD
3.9%
EFAV
8.2%

Utilities

ESGD
3.9%
EFAV
9.1%

Real Estate

ESGD
2.0%
EFAV
2.9%

Compare stocks, funds, or ETFs

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

iShares ESG Aware MSCI EAFE ETF

iShares Edge MSCI Min Vol EAFE ETF

Often compared with ESGD:
ESGD vs. ESGUESGD vs. ESGVESGD vs. SPYESGD vs. DMXFESGD vs. SDGESGD vs. FNIDXESGD vs. INTF
Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV

Return for Risk

ESGD vs. EFAV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ESGD
ESGD Risk / Return Rank: 3939
Overall Rank
ESGD Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
ESGD Sortino Ratio Rank: 3939
Sortino Ratio Rank
ESGD Omega Ratio Rank: 3838
Omega Ratio Rank
ESGD Calmar Ratio Rank: 3636
Calmar Ratio Rank
ESGD Martin Ratio Rank: 4242
Martin Ratio Rank
EFAV
EFAV Risk / Return Rank: 2828
Overall Rank
EFAV Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 2626
Sortino Ratio Rank
EFAV Omega Ratio Rank: 2626
Omega Ratio Rank
EFAV Calmar Ratio Rank: 3232
Calmar Ratio Rank
EFAV Martin Ratio Rank: 3030
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.

ESGD vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI EAFE ETF (ESGD) and iShares Edge MSCI Min Vol EAFE ETF (EFAV). 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.

ESGDEFAVDifference
Sharpe ratioReturn per unit of total volatility
1.36
0.95

+0.41

Sortino ratioReturn per unit of downside risk
1.97
1.38

+0.59

Omega ratioGain probability vs. loss probability

1.25

1.17

+0.07

Calmar ratioReturn relative to maximum drawdown

1.77

1.52

+0.25

Martin ratioReturn relative to average drawdown

6.63

4.22

+2.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESGD vs. EFAV - Sharpe Ratio Comparison

The current ESGD Sharpe Ratio is 1.36, which is higher than the EFAV Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of ESGD and EFAV, 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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Sharpe Ratios by Period

ESGDEFAVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.36

0.95

+0.41

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.54

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.45

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.54

+0.04

Drawdowns

ESGD vs. EFAV - Drawdown Comparison

The maximum ESGD drawdown since its inception was -33.70%, which is greater than EFAV's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for ESGD and EFAV.

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Drawdown Indicators

ESGDEFAVDifference

Max Drawdown

Largest peak-to-trough decline

-33.70%

-27.56%

-6.14%

Max Drawdown (1Y)

Largest decline over 1 year

-11.68%

-6.46%

-5.22%

Max Drawdown (3Y)

Largest decline over 3 years

-13.86%

-8.75%

-5.11%

Max Drawdown (5Y)

Largest decline over 5 years

-30.03%

-27.46%

-2.57%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.56%

—

Current Drawdown

Current decline from peak

-0.64%

-5.07%

+4.43%

Average Drawdown

Average peak-to-trough decline

-6.19%

-4.77%

-1.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.32%

+0.79%

Volatility

ESGD vs. EFAV - Volatility Comparison

iShares ESG Aware MSCI EAFE ETF (ESGD) has a higher volatility of 4.77% compared to iShares Edge MSCI Min Vol EAFE ETF (EFAV) at 3.14%. This indicates that ESGD's price experiences larger fluctuations and is considered to be riskier than EFAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ESGDEFAVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.77%

3.14%

+1.63%

Volatility (6M)

Calculated over the trailing 6-month period

12.60%

8.19%

+4.41%

Volatility (1Y)

Calculated over the trailing 1-year period

15.21%

10.32%

+4.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.61%

11.79%

+4.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

13.21%

+3.76%

ESGD vs. EFAV - Expense Ratio Comparison

Both ESGD and EFAV have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ESGD vs. EFAV - Dividend Comparison

ESGD's dividend yield for the trailing twelve months is around 3.30%, more than EFAV's 3.06% yield.

PositionTTM20252024202320222021202020192018201720162015
EFAV
iShares Edge MSCI Min Vol EAFE ETF		3.06%3.20%3.24%3.08%2.53%2.47%1.33%4.19%3.34%2.45%3.94%2.49%
ESGD
iShares ESG Aware MSCI EAFE ETF		3.30%3.60%3.23%3.02%2.59%2.75%1.63%2.57%2.69%2.65%0.09%0.00%

Frequently Asked Questions

ESGD and EFAV 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.

ESGD has higher volatility (4.77%) compared to EFAV (3.14%). In terms of maximum drawdown, ESGD dropped -33.70% vs EFAV's -27.56%.

On 5-year performance, ESGD leads with 8.06% vs 6.29% for EFAV. Both ETFs have the same 0.20% expense ratio. On volatility, EFAV has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ESGD has performed better with a 8.06% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ESGD and EFAV have the same expense ratio: 0.20% per year.

ESGD has the higher dividend yield at 3.30%, compared with 3.06% for EFAV.

ESGD tracks MSCI EAFE Extended ESG Focus Index, while EFAV tracks MSCI EAFE Minimum Volatility Index.

ESGD currently has the higher Sharpe Ratio (1.36 vs 0.95), 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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