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IDEV vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IDEV vs. IEFA

Last updated Jun 23, 2026

IDEV (iShares Core MSCI International Developed Markets ETF) and IEFA (iShares Core MSCI EAFE ETF) are both Foreign Large Cap Equities funds from iShares - IDEV tracks the MSCI World ex USA Investable Market Index while IEFA tracks the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 5 years, IDEV returned 9.19%/yr vs 8.87%/yr for IEFA. With a 0.98 correlation, they move nearly in lockstep. IDEV charges 0.05%/yr vs 0.07%/yr for IEFA.

Performance

IDEV vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI International Developed Markets ETF (IDEV) 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

The year-to-date returns for both investments are quite close, with IDEV having a 10.38% return and IEFA slightly higher at 10.65%.

IDEV

1D
0.15%
1M
1.58%
YTD
10.38%
6M
10.58%
1Y
26.25%
3Y*
18.20%
5Y*
9.19%
10Y*
—

IEFA

1D
0.10%
1M
1.81%
YTD
10.65%
6M
11.01%
1Y
25.52%
3Y*
17.62%
5Y*
8.87%
10Y*
10.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IDEV vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IDEV
iShares Core MSCI International Developed Markets ETF		10.38%32.56%4.54%17.36%-14.99%13.00%8.32%23.12%-14.10%17.43%
IEFA
iShares Core MSCI EAFE ETF		10.65%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%17.93%

Correlation

The correlation between IDEV and IEFA is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

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

0.99

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

1.00

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2017

0.98

The correlation between IDEV and IEFA has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

IDEV vs. IEFA - Sectors Allocation Comparison

Sectors
IDEV
IEFA

Financial Services

24.0%
22.6%

Industrials

18.8%
20.1%

Technology

11.1%
11.6%

Healthcare

8.5%
9.7%

Basic Materials

8.3%
6.8%

Consumer Cyclical

7.7%
8.3%

Consumer Defensive

5.8%
6.2%

Energy

5.4%
3.6%

Communication Services

4.3%
4.7%

Utilities

3.4%
3.5%

Real Estate

2.7%
2.9%

Financial Services

IDEV
24.0%
IEFA
22.6%

Industrials

IDEV
18.8%
IEFA
20.1%

Technology

IDEV
11.1%
IEFA
11.6%

Healthcare

IDEV
8.5%
IEFA
9.7%

Basic Materials

IDEV
8.3%
IEFA
6.8%

Consumer Cyclical

IDEV
7.7%
IEFA
8.3%

Consumer Defensive

IDEV
5.8%
IEFA
6.2%

Energy

IDEV
5.4%
IEFA
3.6%

Communication Services

IDEV
4.3%
IEFA
4.7%

Utilities

IDEV
3.4%
IEFA
3.5%

Real Estate

IDEV
2.7%
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 Core MSCI International Developed Markets ETF

iShares Core MSCI EAFE ETF

Often compared with IDEV:
IDEV vs. VYMIIDEV vs. VEAIDEV vs. IXUSIDEV vs. SCHFIDEV vs. FDEVIDEV vs. VOOIDEV vs. VEU
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

IDEV vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IDEV
IDEV Risk / Return Rank: 5252
Overall Rank
IDEV Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
IDEV Sortino Ratio Rank: 5353
Sortino Ratio Rank
IDEV Omega Ratio Rank: 5252
Omega Ratio Rank
IDEV Calmar Ratio Rank: 4949
Calmar Ratio Rank
IDEV Martin Ratio Rank: 5555
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4949
Overall Rank
IEFA Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 5050
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4949
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4646
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5151
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.

IDEV vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI International Developed Markets ETF (IDEV) 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.

IDEVIEFADifference
Sharpe ratioReturn per unit of total volatility
1.76
1.66

+0.10

Sortino ratioReturn per unit of downside risk
2.48
2.38

+0.10

Omega ratioGain probability vs. loss probability

1.32

1.30

+0.01

Calmar ratioReturn relative to maximum drawdown

2.35

2.23

+0.12

Martin ratioReturn relative to average drawdown

9.21

8.48

+0.73

IDEV vs. IEFA - Sharpe Ratio Comparison

The current IDEV Sharpe Ratio is 1.76, which is comparable to the IEFA Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of IDEV 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

IDEV vs. IEFA - Drawdown Comparison

The maximum IDEV drawdown since its inception was -34.77%, roughly equal to the maximum IEFA drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for IDEV and IEFA.

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Drawdown Indicators

IDEVIEFADifference

Max Drawdown

Largest peak-to-trough decline

-34.77%

-34.78%

+0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-11.20%

-11.50%

+0.30%

Max Drawdown (3Y)

Largest decline over 3 years

-13.41%

-13.76%

+0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-29.15%

-30.41%

+1.26%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.78%

—

Current Drawdown

Current decline from peak

-0.13%

0.00%

-0.13%

Average Drawdown

Average peak-to-trough decline

-6.53%

-6.67%

+0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.86%

3.02%

-0.16%

Volatility

IDEV vs. IEFA - Volatility Comparison

iShares Core MSCI International Developed Markets ETF (IDEV) and iShares Core MSCI EAFE ETF (IEFA) have volatilities of 4.70% and 4.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IDEVIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.70%

4.85%

-0.15%

Volatility (6M)

Calculated over the trailing 6-month period

12.69%

13.07%

-0.38%

Volatility (1Y)

Calculated over the trailing 1-year period

14.97%

15.44%

-0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.33%

16.59%

-0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.28%

17.27%

+0.01%

IDEV vs. IEFA - Expense Ratio Comparison

IDEV has a 0.05% expense ratio, which is lower than IEFA's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IDEV vs. IEFA - Dividend Comparison

IDEV's dividend yield for the trailing twelve months is around 3.20%, less than IEFA's 3.38% yield.

PositionTTM20252024202320222021202020192018201720162015
IDEV
iShares Core MSCI International Developed Markets ETF		3.20%3.40%3.30%3.07%2.69%3.05%2.00%3.18%3.16%1.54%0.00%0.00%
IEFA
iShares Core MSCI EAFE ETF		3.38%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

With a correlation of 0.99, IDEV and IEFA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IEFA has higher volatility (4.85%) compared to IDEV (4.70%). In terms of maximum drawdown, IDEV dropped -34.77% vs IEFA's -34.78%.

On 5-year performance, IDEV leads with 9.19% vs 8.87% for IEFA. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IDEV has performed better with a 9.19% return vs 8.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IDEV is cheaper with a 0.05% expense ratio, compared with 0.07% for IEFA.

IEFA has the higher dividend yield at 3.38%, compared with 3.20% for IDEV.

IDEV tracks MSCI World ex USA Investable Market Index, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 0.05% for IDEV and 0.07% for IEFA.

IDEV currently has the higher Sharpe Ratio (1.76 vs 1.66), 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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