IAT vs. EFV

Last updated Jun 4, 2026

IAT (iShares U.S. Regional Banks ETF) and EFV (iShares MSCI EAFE Value ETF) are both exchange-traded funds - IAT is a Financials Equities fund tracking the Dow Jones U.S. Select Regional Banks Index, while EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index. Both are passively managed. Over the past 10 years, IAT returned 7.95%/yr vs 9.75%/yr for EFV. A 0.61 correlation means they provide meaningful diversification when combined. IAT charges 0.42%/yr vs 0.39%/yr for EFV.

Performance

IAT vs. EFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Regional Banks ETF (IAT) and iShares MSCI EAFE Value ETF (EFV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAT achieves a 2.80% return, which is significantly lower than EFV's 9.13% return. Over the past 10 years, IAT has underperformed EFV with an annualized return of 7.95%, while EFV has yielded a comparatively higher 9.75% annualized return.

IAT

• 1D: -1.71%
• 1M: -1.74%
• YTD: 2.80%
• 6M: 7.09%
• 1Y: 22.99%
• 3Y*: 22.20%
• 5Y*: 1.35%
• 10Y*: 7.95%

EFV

• 1D: -0.78%
• 1M: 2.26%
• YTD: 9.13%
• 6M: 12.94%
• 1Y: 27.83%
• 3Y*: 21.99%
• 5Y*: 12.07%
• 10Y*: 9.75%

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

IAT vs. EFV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAT iShares U.S. Regional Banks ETF	2.80%	13.05%	24.36%	-8.53%	-20.61%	38.89%	-7.60%	31.38%	-17.45%	10.42%
EFV iShares MSCI EAFE Value ETF	9.13%	42.22%	5.35%	18.85%	-5.22%	11.08%	-2.97%	15.80%	-14.67%	21.22%

Correlation

The correlation between IAT and EFV is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 8, 2006	0.61

The correlation between IAT and EFV shifts across timeframes, from 0.47 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

IAT vs. EFV - Sectors Allocation Comparison

Sectors	IAT	EFV
Financial Services	100.0%	36.9%
Basic Materials	-	7.5%
Communication Services	-	4.4%
Consumer Cyclical	-	4.8%
Consumer Defensive	-	8.3%
Energy	-	7.0%
Healthcare	-	7.2%
Industrials	-	10.2%
Real Estate	-	2.5%
Technology	-	4.3%
Utilities	-	5.9%

Return for Risk

IAT vs. EFV — Risk / Return Rank

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

IAT

IAT Risk / Return Rank: 27
IAT Sharpe Ratio Rank: 29
IAT Sortino Ratio Rank: 28
IAT Omega Ratio Rank: 29
IAT Calmar Ratio Rank: 27
IAT Martin Ratio Rank: 25

EFV

EFV Risk / Return Rank: 55
EFV Sharpe Ratio Rank: 57
EFV Sortino Ratio Rank: 56
EFV Omega Ratio Rank: 57
EFV Calmar Ratio Rank: 51
EFV Martin Ratio Rank: 55

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.

IAT vs. EFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.

	IAT	EFV	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.97	-0.91
Sortino ratio: Return per unit of downside risk	1.52	2.73	-1.20
Omega ratio: Gain probability vs. loss probability	1.20	1.36	-0.16
Calmar ratio: Return relative to maximum drawdown	1.32	2.57	-1.25
Martin ratio: Return relative to average drawdown	3.38	9.57	-6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAT vs. EFV - Sharpe Ratio Comparison

The current IAT Sharpe Ratio is 1.06, which is lower than the EFV Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of IAT 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.

Sharpe Ratios by Period

	IAT	EFV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.97	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.76	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.55	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.27	-0.17

Drawdowns

IAT vs. EFV - Drawdown Comparison

The maximum IAT drawdown since its inception was -77.22%, which is greater than EFV's maximum drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for IAT and EFV.

Drawdown Indicators

	IAT	EFV	Difference
Max Drawdown Largest peak-to-trough decline	-77.22%	-63.94%	-13.28%
Max Drawdown (1Y) Largest decline over 1 year	-17.49%	-10.90%	-6.59%
Max Drawdown (3Y) Largest decline over 3 years	-29.29%	-13.72%	-15.57%
Max Drawdown (5Y) Largest decline over 5 years	-55.55%	-25.84%	-29.71%
Max Drawdown (10Y) Largest decline over 10 years	-55.55%	-43.16%	-12.39%
Current Drawdown Current decline from peak	-9.75%	-2.51%	-7.24%
Average Drawdown Average peak-to-trough decline	-26.97%	-14.83%	-12.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.81%	2.91%	+3.90%

Volatility

IAT vs. EFV - Volatility Comparison

iShares U.S. Regional Banks ETF (IAT) has a higher volatility of 6.12% compared to iShares MSCI EAFE Value ETF (EFV) at 4.52%. This indicates that IAT's price experiences larger fluctuations and is considered to be riskier than EFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAT	EFV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	4.52%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	15.74%	11.56%	+4.18%
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	14.21%	+7.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.03%	15.96%	+13.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.78%	17.86%	+12.92%

IAT vs. EFV - Expense Ratio Comparison

IAT has a 0.42% expense ratio, which is higher than EFV's 0.39% expense ratio.

Dividends

IAT vs. EFV - Dividend Comparison

IAT's dividend yield for the trailing twelve months is around 2.88%, less than EFV's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFV iShares MSCI EAFE Value ETF	3.81%	4.16%	4.66%	4.36%	4.17%	4.07%	2.42%	4.62%	4.56%	3.56%	3.28%	3.59%
IAT iShares U.S. Regional Banks ETF	2.88%	2.94%	2.95%	3.56%	3.12%	1.88%	2.87%	2.49%	2.48%	1.55%	1.52%	1.78%

Frequently Asked Questions

Can I hold both IAT and EFV in my portfolio?

IAT and EFV have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAT or EFV?

IAT has higher volatility (6.12%) compared to EFV (4.52%). In terms of maximum drawdown, IAT dropped -77.22% vs EFV's -63.94%.

Which ETF is better, IAT or EFV?

On 10-year performance, EFV leads with 9.75% vs 7.95% for IAT. On fees, EFV is cheaper at 0.39% per year. On volatility, EFV has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAT or EFV?

Over the 10-year period, EFV has performed better with a 9.75% return vs 7.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAT or EFV?

EFV is cheaper with a 0.39% expense ratio, compared with 0.42% for IAT.

Which ETF pays a higher dividend yield, IAT or EFV?

EFV has the higher dividend yield at 3.81%, compared with 2.88% for IAT.

What is the main difference between IAT and EFV?

IAT is categorized as Financials Equities, while EFV is Foreign Large Cap Equities. IAT tracks Dow Jones U.S. Select Regional Banks Index, while EFV tracks MSCI EAFE Value Index. Their fees differ too: 0.42% for IAT and 0.39% for EFV.

Which has better risk-adjusted returns?

EFV currently has the higher Sharpe Ratio (1.97 vs 1.06), 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.