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EXI vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EXI vs. IEFA

Last updated Jun 24, 2026

EXI (iShares Global Industrials ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - EXI is a Industrials Equities fund tracking the S&P Global 1200 / Industrials -SEC, 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, EXI returned 13.04%/yr vs 9.96%/yr for IEFA. Their correlation of 0.87 suggests significant overlap in exposure. EXI charges 0.43%/yr vs 0.07%/yr for IEFA.

Performance

EXI vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Industrials ETF (EXI) 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, EXI achieves a 12.18% return, which is significantly higher than IEFA's 8.47% return. Over the past 10 years, EXI has outperformed IEFA with an annualized return of 13.04%, while IEFA has yielded a comparatively lower 9.96% annualized return.

EXI

1D
-2.28%
1M
1.89%
YTD
12.18%
6M
11.32%
1Y
23.77%
3Y*
20.42%
5Y*
11.94%
10Y*
13.04%

IEFA

1D
-1.97%
1M
-0.19%
YTD
8.47%
6M
8.11%
1Y
22.09%
3Y*
16.84%
5Y*
8.24%
10Y*
9.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EXI vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EXI
iShares Global Industrials ETF		12.18%25.88%12.47%22.04%-12.36%17.37%11.33%27.13%-14.41%25.16%
IEFA
iShares Core MSCI EAFE ETF		8.47%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between EXI and IEFA is 0.84, 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

0.84

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

0.84

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

0.87

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

0.86

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

0.87

The correlation between EXI and IEFA has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

EXI vs. IEFA - Sectors Allocation Comparison

Sectors
EXI
IEFA

Industrials

94.4%
20.1%

Technology

4.0%
11.6%

Utilities

2.6%
3.5%

Communication Services

1.1%
4.7%

Consumer Cyclical

0.2%
8.3%

Basic Materials

0.2%
6.8%

Financial Services

0.1%
22.6%

Consumer Defensive

0.1%
6.2%

Energy

-

3.6%

Healthcare

-

9.7%

Real Estate

-

2.9%

Industrials

EXI
94.4%
IEFA
20.1%

Technology

EXI
4.0%
IEFA
11.6%

Utilities

EXI
2.6%
IEFA
3.5%

Communication Services

EXI
1.1%
IEFA
4.7%

Consumer Cyclical

EXI
0.2%
IEFA
8.3%

Basic Materials

EXI
0.2%
IEFA
6.8%

Financial Services

EXI
0.1%
IEFA
22.6%

Consumer Defensive

EXI
0.1%
IEFA
6.2%

Energy

EXI

-

IEFA
3.6%

Healthcare

EXI

-

IEFA
9.7%

Real Estate

EXI

-

IEFA
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 Global Industrials ETF

iShares Core MSCI EAFE ETF

Often compared with EXI:
EXI vs. XLIEXI vs. FIDUEXI vs. IYJEXI vs. PSCCEXI vs. KXIEXI vs. SPYEXI vs. BOTZ
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

EXI vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EXI
EXI Risk / Return Rank: 4343
Overall Rank
EXI Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
EXI Sortino Ratio Rank: 4343
Sortino Ratio Rank
EXI Omega Ratio Rank: 4343
Omega Ratio Rank
EXI Calmar Ratio Rank: 4040
Calmar Ratio Rank
EXI Martin Ratio Rank: 4848
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4242
Overall Rank
IEFA Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4242
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4242
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4040
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4646
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.

EXI vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Industrials ETF (EXI) 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.

EXIIEFADifference
Sharpe ratioReturn per unit of total volatility
1.43
1.43

0.00

Sortino ratioReturn per unit of downside risk
2.10
2.06

+0.04

Omega ratioGain probability vs. loss probability

1.26

1.26

0.00

Calmar ratioReturn relative to maximum drawdown

1.93

1.93

0.00

Martin ratioReturn relative to average drawdown

7.68

7.34

+0.34

EXI vs. IEFA - Sharpe Ratio Comparison

The current EXI Sharpe Ratio is 1.43, which is comparable to the IEFA Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of EXI 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

EXI vs. IEFA - Drawdown Comparison

The maximum EXI drawdown since its inception was -62.60%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for EXI and IEFA.

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Drawdown Indicators

EXIIEFADifference

Max Drawdown

Largest peak-to-trough decline

-62.60%

-34.78%

-27.82%

Max Drawdown (1Y)

Largest decline over 1 year

-12.35%

-11.50%

-0.85%

Max Drawdown (3Y)

Largest decline over 3 years

-14.38%

-13.76%

-0.62%

Max Drawdown (5Y)

Largest decline over 5 years

-27.23%

-30.41%

+3.18%

Max Drawdown (10Y)

Largest decline over 10 years

-39.56%

-34.78%

-4.78%

Current Drawdown

Current decline from peak

-2.28%

-1.97%

-0.31%

Average Drawdown

Average peak-to-trough decline

-9.94%

-6.67%

-3.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.02%

+0.08%

Volatility

EXI vs. IEFA - Volatility Comparison

iShares Global Industrials ETF (EXI) has a higher volatility of 6.03% compared to iShares Core MSCI EAFE ETF (IEFA) at 5.26%. This indicates that EXI's price experiences larger fluctuations and is considered to be riskier 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

EXIIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

6.03%

5.26%

+0.77%

Volatility (6M)

Calculated over the trailing 6-month period

14.19%

13.22%

+0.97%

Volatility (1Y)

Calculated over the trailing 1-year period

16.74%

15.55%

+1.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.12%

16.61%

+0.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.36%

17.07%

+1.29%

EXI vs. IEFA - Expense Ratio Comparison

EXI has a 0.43% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

EXI vs. IEFA - Dividend Comparison

EXI's dividend yield for the trailing twelve months is around 1.08%, less than IEFA's 3.44% yield.

PositionTTM20252024202320222021202020192018201720162015
EXI
iShares Global Industrials ETF		1.08%1.32%1.47%1.84%1.63%1.42%1.26%1.72%2.21%1.48%1.75%1.95%
IEFA
iShares Core MSCI EAFE ETF		3.44%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

EXI and IEFA have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EXI has higher volatility (6.03%) compared to IEFA (5.26%). In terms of maximum drawdown, EXI dropped -62.60% vs IEFA's -34.78%.

On 10-year performance, EXI leads with 13.04% vs 9.96% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IEFA has been the lower-risk option at 5.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EXI has performed better with a 13.04% return vs 9.96%. 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 0.43% for EXI.

IEFA has the higher dividend yield at 3.44%, compared with 1.08% for EXI.

EXI is categorized as Industrials Equities, while IEFA is Foreign Large Cap Equities. EXI tracks S&P Global 1200 / Industrials -SEC, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 0.43% for EXI and 0.07% for IEFA.

EXI currently has the higher Sharpe Ratio (1.43 vs 1.43), 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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