IEFA vs. BKIE

Last updated Jul 15, 2026

IEFA (iShares Core MSCI EAFE ETF) and BKIE (BNY Mellon International Equity ETF) are both Foreign Large Cap Equities funds - IEFA tracks the MSCI EAFE IMI Index (Net) while BKIE tracks the Solactive GBS Developed Markets ex United States Large & Mid Cap USD Index NTR. Both are passively managed. Over the past 5 years, IEFA returned 8.79%/yr vs 9.43%/yr for BKIE. With a 0.98 correlation, they move nearly in lockstep. IEFA charges 0.07%/yr vs 0.04%/yr for BKIE.

Performance

IEFA vs. BKIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and BNY Mellon International Equity ETF (BKIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEFA achieves a 10.08% return, which is significantly higher than BKIE's 9.22% return.

IEFA

• 1D: 0.77%
• 1M: 0.52%
• 6M: 6.95%
• YTD: 10.08%
• 1Y: 20.86%
• 3Y*: 15.79%
• 5Y*: 8.79%
• 10Y*: 9.49%

BKIE

• 1D: -1.01%
• 1M: -0.26%
• 6M: 5.59%
• YTD: 9.22%
• 1Y: 21.39%
• 3Y*: 16.16%
• 5Y*: 9.43%
• 10Y*: —

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

IEFA vs. BKIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IEFA iShares Core MSCI EAFE ETF	10.08%	32.08%	3.26%	17.95%	-15.24%	11.63%	38.44%
BKIE BNY Mellon International Equity ETF	9.22%	32.08%	4.63%	18.25%	-13.60%	13.75%	34.17%

Correlation

The correlation between IEFA and BKIE is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020	0.98

The correlation between IEFA and BKIE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

IEFA vs. BKIE - Sectors Allocation Comparison

Sectors	IEFA	BKIE
Financial Services	25.1%	25.9%
Industrials	18.9%	18.2%
Technology	13.7%	10.9%
Healthcare	10.4%	8.9%
Consumer Cyclical	7.1%	7.4%
Consumer Defensive	6.5%	6.2%
Basic Materials	5.9%	7.3%
Communication Services	3.5%	4.4%
Utilities	3.5%	3.5%
Energy	3.3%	5.5%
Real Estate	1.5%	1.9%

Return for Risk

IEFA vs. BKIE — Risk / Return Rank

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

IEFA

IEFA Risk / Return Rank: 48
IEFA Sharpe Ratio Rank: 48
IEFA Sortino Ratio Rank: 48
IEFA Omega Ratio Rank: 48
IEFA Calmar Ratio Rank: 45
IEFA Martin Ratio Rank: 51

BKIE

BKIE Risk / Return Rank: 51
BKIE Sharpe Ratio Rank: 52
BKIE Sortino Ratio Rank: 52
BKIE Omega Ratio Rank: 50
BKIE Calmar Ratio Rank: 47
BKIE Martin Ratio Rank: 53

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.

IEFA vs. BKIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and BNY Mellon International Equity ETF (BKIE). 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.

	IEFA	BKIE	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.42	-0.07
Sortino ratio: Return per unit of downside risk	1.95	2.04	-0.09
Omega ratio: Gain probability vs. loss probability	1.25	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	1.82	1.88	-0.06
Martin ratio: Return relative to average drawdown	6.91	7.23	-0.32

IEFA vs. BKIE - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.34, which is comparable to the BKIE Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of IEFA and BKIE, 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

IEFA vs. BKIE - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, which is greater than BKIE's maximum drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for IEFA and BKIE.

Drawdown Indicators

	IEFA	BKIE	Difference
Max Drawdown Largest peak-to-trough decline	-34.78%	-28.19%	-6.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.50%	-11.41%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-13.76%	-13.19%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	-30.41%	-28.19%	-2.22%
Max Drawdown (10Y) Largest decline over 10 years	-34.78%	—	—
Current Drawdown Current decline from peak	-1.44%	-1.94%	+0.50%
Average Drawdown Average peak-to-trough decline	-6.65%	-4.91%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.97%	+0.06%

Volatility

IEFA vs. BKIE - Volatility Comparison

The current volatility for iShares Core MSCI EAFE ETF (IEFA) is 3.85%, while BNY Mellon International Equity ETF (BKIE) has a volatility of 4.54%. This indicates that IEFA experiences smaller price fluctuations and is considered to be less risky than BKIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEFA	BKIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	4.54%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	13.41%	13.02%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.60%	15.21%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	16.21%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.01%	16.34%	+0.67%

IEFA vs. BKIE - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is higher than BKIE's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IEFA vs. BKIE - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.39%, more than BKIE's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKIE BNY Mellon International Equity ETF	3.22%	3.12%	3.31%	2.88%	2.97%	2.58%	1.49%	0.00%	0.00%	0.00%	0.00%	0.00%
IEFA iShares Core MSCI EAFE ETF	3.39%	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

Can I hold both IEFA and BKIE in my portfolio?

With a correlation of 0.98, IEFA and BKIE 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.

Which is riskier, IEFA or BKIE?

BKIE has higher volatility (4.54%) compared to IEFA (3.85%). In terms of maximum drawdown, IEFA dropped -34.78% vs BKIE's -28.19%.

Which ETF is better, IEFA or BKIE?

On 5-year performance, BKIE leads with 9.43% vs 8.79% for IEFA. On fees, BKIE is cheaper at 0.04% per year. On volatility, IEFA has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEFA or BKIE?

Over the 5-year period, BKIE has performed better with a 9.43% return vs 8.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEFA or BKIE?

BKIE is cheaper with a 0.04% expense ratio, compared with 0.07% for IEFA.

Which ETF pays a higher dividend yield, IEFA or BKIE?

IEFA has the higher dividend yield at 3.39%, compared with 3.22% for BKIE.

What is the main difference between IEFA and BKIE?

IEFA tracks MSCI EAFE IMI Index (Net), while BKIE tracks Solactive GBS Developed Markets ex United States Large & Mid Cap USD Index NTR. They also come from different issuers: iShares and BNY Mellon. Their fees differ too: 0.07% for IEFA and 0.04% for BKIE.

Which has better risk-adjusted returns?

BKIE currently has the higher Sharpe Ratio (1.42 vs 1.34), 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.