HDV vs. EFAS

Last updated Jul 12, 2026

HDV (iShares Core High Dividend ETF) and EFAS (Global X MSCI SuperDividend® EAFE ETF) are both Dividend funds - HDV tracks the Morningstar Dividend Yield Focus Index while EFAS tracks the MSCI EAFE Top 50 Dividend Index. Both are passively managed. Over the past 5 years, HDV returned 11.16%/yr vs 12.85%/yr for EFAS. A 0.53 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 0.55%/yr for EFAS.

Performance

HDV vs. EFAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and Global X MSCI SuperDividend® EAFE ETF (EFAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDV achieves a 15.36% return, which is significantly higher than EFAS's 14.43% return.

HDV

• 1D: 0.44%
• 1M: 0.05%
• 6M: 13.47%
• YTD: 15.36%
• 1Y: 19.24%
• 3Y*: 15.04%
• 5Y*: 11.16%
• 10Y*: 9.03%

EFAS

• 1D: 0.49%
• 1M: -0.88%
• 6M: 13.47%
• YTD: 14.43%
• 1Y: 26.21%
• 3Y*: 24.49%
• 5Y*: 12.85%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. EFAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDV iShares Core High Dividend ETF	15.36%	11.90%	14.16%	1.72%	7.05%	19.45%	-6.48%	20.22%	-3.01%	13.40%
EFAS Global X MSCI SuperDividend® EAFE ETF	14.43%	46.83%	3.07%	14.65%	-8.00%	12.75%	-5.42%	14.60%	-11.60%	22.76%

Correlation

The correlation between HDV and EFAS is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 16, 2016	0.53

The correlation between HDV and EFAS shifts across timeframes, from 0.42 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

HDV vs. EFAS - Sectors Allocation Comparison

Sectors	HDV	EFAS
Consumer Defensive	24.5%	8.1%
Healthcare	23.7%	0.1%
Energy	19.6%	13.1%
Consumer Cyclical	9.2%	1.9%
Utilities	8.2%	13.7%
Communication Services	5.2%	8.6%
Financial Services	4.8%	31.0%
Industrials	3.6%	10.4%
Basic Materials	0.8%	1.7%
Technology	0.2%	0.1%
Real Estate	-	11.4%

Return for Risk

HDV vs. EFAS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDV

HDV Risk / Return Rank: 72
HDV Sharpe Ratio Rank: 69
HDV Sortino Ratio Rank: 74
HDV Omega Ratio Rank: 64
HDV Calmar Ratio Rank: 83
HDV Martin Ratio Rank: 68

EFAS

EFAS Risk / Return Rank: 88
EFAS Sharpe Ratio Rank: 90
EFAS Sortino Ratio Rank: 90
EFAS Omega Ratio Rank: 87
EFAS Calmar Ratio Rank: 92
EFAS Martin Ratio Rank: 79

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.

HDV vs. EFAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and Global X MSCI SuperDividend® EAFE ETF (EFAS). 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.

	HDV	EFAS	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.40	-0.61
Sortino ratio: Return per unit of downside risk	2.67	3.39	-0.72
Omega ratio: Gain probability vs. loss probability	1.31	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	3.60	4.94	-1.34
Martin ratio: Return relative to average drawdown	9.85	12.08	-2.23

HDV vs. EFAS - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 1.79, which is comparable to the EFAS Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of HDV and EFAS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDV vs. EFAS - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum EFAS drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for HDV and EFAS.

Drawdown Indicators

	HDV	EFAS	Difference
Max Drawdown Largest peak-to-trough decline	-37.04%	-44.38%	+7.34%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-5.30%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-10.49%	-11.84%	+1.35%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-28.81%	+13.39%
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	—	—
Current Drawdown Current decline from peak	-1.39%	-1.75%	+0.36%
Average Drawdown Average peak-to-trough decline	-3.07%	-7.03%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.16%	-0.26%

Volatility

HDV vs. EFAS - Volatility Comparison

iShares Core High Dividend ETF (HDV) has a higher volatility of 4.51% compared to Global X MSCI SuperDividend® EAFE ETF (EFAS) at 3.08%. This indicates that HDV's price experiences larger fluctuations and is considered to be riskier than EFAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDV	EFAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	3.08%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	8.34%	8.70%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.47%	10.94%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.88%	15.56%	-2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	18.27%	-2.53%

HDV vs. EFAS - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than EFAS's 0.55% expense ratio.

Dividends

HDV vs. EFAS - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.87%, less than EFAS's 4.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAS Global X MSCI SuperDividend® EAFE ETF	4.77%	4.83%	6.76%	6.33%	7.28%	5.19%	4.34%	5.75%	6.63%	6.15%	0.21%	0.00%
HDV iShares Core High Dividend ETF	2.87%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%

Frequently Asked Questions

Can I hold both HDV and EFAS in my portfolio?

HDV and EFAS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDV or EFAS?

HDV has higher volatility (4.51%) compared to EFAS (3.08%). In terms of maximum drawdown, HDV dropped -37.04% vs EFAS's -44.38%.

Which ETF is better, HDV or EFAS?

On 5-year performance, EFAS leads with 12.85% vs 11.16% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, EFAS has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDV or EFAS?

Over the 5-year period, EFAS has performed better with a 12.85% return vs 11.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDV or EFAS?

HDV is cheaper with a 0.08% expense ratio, compared with 0.55% for EFAS.

Which ETF pays a higher dividend yield, HDV or EFAS?

EFAS has the higher dividend yield at 4.77%, compared with 2.87% for HDV.

What is the main difference between HDV and EFAS?

HDV tracks Morningstar Dividend Yield Focus Index, while EFAS tracks MSCI EAFE Top 50 Dividend Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.08% for HDV and 0.55% for EFAS.

Which has better risk-adjusted returns?

EFAS currently has the higher Sharpe Ratio (2.40 vs 1.79), 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.