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HDEF vs. EFV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDEF vs. EFV

Last updated Aug 2, 2026
Documentation

HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and EFV (iShares MSCI EAFE Value ETF) are both Foreign Large Cap Equities funds - HDEF tracks the MSCI EAFE High Dividend Yield US Dollar Hedged Index while EFV tracks the MSCI EAFE Value Index (Net). Both are passively managed. Over the past 10 years, HDEF returned 9.09%/yr vs 10.63%/yr for EFV. Their 0.80 correlation means they have sometimes moved together and sometimes differently. HDEF charges 0.20%/yr vs 0.31%/yr for EFV.

Performance

HDEF vs. EFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and iShares MSCI EAFE Value ETF (EFV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HDEF achieves a 12.33% return, which is significantly lower than EFV's 16.27% return. Over the past 10 years, HDEF has underperformed EFV with an annualized return of 9.09%, while EFV has yielded a comparatively higher 10.63% annualized return.

HDEF

1D
-0.95%
1M
3.70%
6M
8.55%
YTD
12.33%
1Y
23.62%
3Y*
17.68%
5Y*
11.81%
10Y*
9.09%
ALL TIME*
8.10%

EFV

1D
-0.53%
1M
3.89%
6M
10.21%
YTD
16.27%
1Y
34.23%
3Y*
22.38%
5Y*
14.42%
10Y*
10.63%
ALL TIME*
6.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EFV

iShares MSCI EAFE Value ETF
$244.79M$363.40M$390.92M

HDEF

Xtrackers MSCI EAFE High Dividend Yield Equity ETF
$3.46M$3.74M$5.68M

HDEF vs. EFV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDEF
Xtrackers MSCI EAFE High Dividend Yield Equity ETF		12.33%33.01%2.85%18.53%-2.51%6.95%-1.90%25.02%-13.74%9.89%
EFV
iShares MSCI EAFE Value ETF		16.27%42.22%5.35%18.85%-5.22%11.08%-2.97%15.80%-14.67%21.22%

Correlation

The correlation between HDEF and EFV is 0.82, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.82

Correlation (3Y)
Balances recent behavior with more history.

0.90

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.92

Correlation (10Y)
Provides a long-term view across more market conditions.

0.85

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2015

0.80

The correlation between HDEF and EFV shifts across timeframes, from 0.80 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.

HDEF vs. EFV - Sectors Allocation Comparison

Sectors
HDEF
EFV

Financial Services

27.2%
38.8%

Consumer Defensive

20.0%
9.8%

Healthcare

17.2%
7.6%

Energy

10.4%
6.2%

Utilities

8.1%
6.1%

Industrials

7.6%
10.0%

Consumer Cyclical

3.8%
5.6%

Communication Services

3.7%
4.1%

Real Estate

0.8%
2.7%

Technology

0.6%
3.1%

Basic Materials

0.6%
6.0%

Financial Services

HDEF
27.2%
EFV
38.8%

Consumer Defensive

HDEF
20.0%
EFV
9.8%

Healthcare

HDEF
17.2%
EFV
7.6%

Energy

HDEF
10.4%
EFV
6.2%

Utilities

HDEF
8.1%
EFV
6.1%

Industrials

HDEF
7.6%
EFV
10.0%

Consumer Cyclical

HDEF
3.8%
EFV
5.6%

Communication Services

HDEF
3.7%
EFV
4.1%

Real Estate

HDEF
0.8%
EFV
2.7%

Technology

HDEF
0.6%
EFV
3.1%

Basic Materials

HDEF
0.6%
EFV
6.0%

Compare stocks, funds, or ETFs

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

Xtrackers MSCI EAFE High Dividend Yield Equity ETF

iShares MSCI EAFE Value ETF

Often compared with HDEF:
HDEF vs. VYMIHDEF vs. SCHYHDEF vs. SCHDHDEF vs. BBINHDEF vs. BKHYHDEF vs. SPDWHDEF vs. VOO
Often compared with EFV:
EFV vs. VEAEFV vs. EFAVEFV vs. FIVAEFV vs. DFIVXEFV vs. VOOEFV vs. VTRIXEFV vs. SCHF

Return for Risk

HDEF vs. EFV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
HDEF
HDEF Risk / Return Rank: 8383
Overall Rank
HDEF Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HDEF Sortino Ratio Rank: 8787
Sortino Ratio Rank
HDEF Omega Ratio Rank: 8787
Omega Ratio Rank
HDEF Calmar Ratio Rank: 8282
Calmar Ratio Rank
HDEF Martin Ratio Rank: 7171
Martin Ratio Rank
EFV
EFV Risk / Return Rank: 8989
Overall Rank
EFV Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
EFV Sortino Ratio Rank: 9191
Sortino Ratio Rank
EFV Omega Ratio Rank: 9191
Omega Ratio Rank
EFV Calmar Ratio Rank: 8484
Calmar Ratio Rank
EFV Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HDEF vs. EFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and iShares MSCI EAFE Value ETF (EFV). 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.

HDEFEFVDifference
Sharpe ratioReturn per unit of total volatility
2.09
2.38

-0.30

Sortino ratioReturn per unit of downside risk
2.91
3.28

-0.37

Omega ratioGain probability vs. loss probability

1.39

1.43

-0.04

Calmar ratioReturn relative to maximum drawdown

3.02

3.14

-0.13

Martin ratioReturn relative to average drawdown

8.62

11.73

-3.11

HDEF vs. EFV - Sharpe Ratio Comparison

The current HDEF Sharpe Ratio is 2.09, which is comparable to the EFV Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of HDEF and EFV, 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

HDEF vs. EFV - Drawdown Comparison

The maximum HDEF drawdown since its inception was -36.43%, smaller than the maximum EFV drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for HDEF and EFV.

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Drawdown Indicators

HDEFEFVDifference

Max Drawdown

Largest peak-to-trough decline

-36.43%

-63.94%

+27.51%

Max Drawdown (1Y)

Largest decline over 1 year

-8.03%

-10.90%

+2.87%

Max Drawdown (3Y)

Largest decline over 3 years

-11.15%

-13.72%

+2.57%

Max Drawdown (5Y)

Largest decline over 5 years

-23.63%

-25.84%

+2.21%

Max Drawdown (10Y)

Largest decline over 10 years

-36.43%

-43.16%

+6.73%

Current Drawdown

Current decline from peak

-0.95%

-0.53%

-0.42%

Average Drawdown

Average peak-to-trough decline

-5.02%

-14.72%

+9.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.80%

2.91%

-0.11%

Volatility

HDEF vs. EFV - Volatility Comparison

The current volatility for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) is 3.31%, while iShares MSCI EAFE Value ETF (EFV) has a volatility of 4.20%. This indicates that HDEF experiences smaller price fluctuations and is considered to be less risky than EFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDEFEFVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.31%

4.20%

-0.89%

Volatility (6M)

Calculated over the trailing 6-month period

9.46%

12.23%

-2.77%

Volatility (1Y)

Calculated over the trailing 1-year period

11.67%

14.38%

-2.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.14%

15.94%

-1.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.13%

17.46%

-1.33%

HDEF vs. EFV - Expense Ratio Comparison

HDEF has a 0.20% expense ratio, which is lower than EFV's 0.31% expense ratio.

Dividends

HDEF vs. EFV - Dividend Comparison

HDEF's dividend yield for the trailing twelve months is around 3.70%, less than EFV's 4.52% yield.

PositionTTM20252024202320222021202020192018201720162015
EFV
iShares MSCI EAFE Value ETF		4.52%4.16%4.66%4.36%4.17%4.07%2.42%4.62%4.56%3.56%3.28%3.59%
HDEF
Xtrackers MSCI EAFE High Dividend Yield Equity ETF		3.70%3.88%4.53%4.38%5.41%4.76%3.93%4.20%3.55%3.38%9.53%1.87%

Frequently Asked Questions

HDEF and EFV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EFV has higher volatility (4.20%) compared to HDEF (3.31%). In terms of maximum drawdown, HDEF dropped -36.43% vs EFV's -63.94%.

On 10-year performance, EFV leads with 10.63% vs 9.09% for HDEF. On fees, HDEF is cheaper at 0.20% per year. On volatility, HDEF has been the lower-risk option at 3.31%. 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 10.63% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDEF is cheaper with a 0.20% expense ratio, compared with 0.31% for EFV.

EFV has the higher dividend yield at 4.52%, compared with 3.70% for HDEF.

HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while EFV tracks MSCI EAFE Value Index (Net). They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.20% for HDEF and 0.31% for EFV.

EFV currently has the higher Sharpe Ratio (2.38 vs 2.09), 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.

Portfolio Optimizer

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