IEFA vs. DWX
Compare and contrast key facts about iShares Core MSCI EAFE ETF (IEFA) and SPDR S&P International Dividend ETF (DWX).
IEFA and DWX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Investable Market Index. It was launched on Oct 18, 2012. DWX is a passively managed fund by State Street that tracks the performance of the S&P International Dividend Opportunities Index. It was launched on Feb 12, 2008. Both IEFA and DWX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IEFA vs. DWX - Performance Comparison
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IEFA vs. DWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFA iShares Core MSCI EAFE ETF | 2.74% | 32.08% | 3.26% | 17.95% | -15.24% | 11.63% | 8.18% | 22.64% | -14.14% | 26.57% |
DWX SPDR S&P International Dividend ETF | 4.69% | 31.62% | 2.56% | 14.74% | -12.99% | 10.56% | -5.10% | 20.26% | -11.11% | 18.91% |
Returns By Period
In the year-to-date period, IEFA achieves a 2.74% return, which is significantly lower than DWX's 4.69% return. Over the past 10 years, IEFA has outperformed DWX with an annualized return of 9.02%, while DWX has yielded a comparatively lower 7.51% annualized return.
IEFA
- 1D
- 1.52%
- 1M
- -4.68%
- YTD
- 2.74%
- 6M
- 6.58%
- 1Y
- 25.75%
- 3Y*
- 15.08%
- 5Y*
- 8.12%
- 10Y*
- 9.02%
DWX
- 1D
- 0.38%
- 1M
- -3.99%
- YTD
- 4.69%
- 6M
- 8.87%
- 1Y
- 24.39%
- 3Y*
- 15.02%
- 5Y*
- 8.15%
- 10Y*
- 7.51%
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IEFA vs. DWX - Expense Ratio Comparison
IEFA has a 0.07% expense ratio, which is lower than DWX's 0.45% expense ratio.
Return for Risk
IEFA vs. DWX — Risk / Return Rank
IEFA
DWX
IEFA vs. DWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and SPDR S&P International Dividend ETF (DWX). 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.
| IEFA | DWX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.46 | 1.96 | -0.49 |
Sortino ratioReturn per unit of downside risk | 2.07 | 2.58 | -0.51 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.90 | -0.63 |
Martin ratioReturn relative to average drawdown | 8.75 | 10.97 | -2.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEFA | DWX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 1.96 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.68 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.50 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.12 | +0.37 |
Correlation
The correlation between IEFA and DWX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IEFA vs. DWX - Dividend Comparison
IEFA's dividend yield for the trailing twelve months is around 3.46%, less than DWX's 4.26% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEFA iShares Core MSCI EAFE ETF | 3.46% | 3.55% | 3.47% | 3.20% | 2.70% | 3.32% | 1.90% | 3.18% | 3.46% | 2.57% | 2.96% | 2.63% |
DWX SPDR S&P International Dividend ETF | 4.26% | 4.44% | 4.31% | 4.12% | 4.68% | 3.89% | 3.84% | 4.40% | 5.06% | 3.85% | 5.25% | 5.81% |
Drawdowns
IEFA vs. DWX - Drawdown Comparison
The maximum IEFA drawdown since its inception was -34.78%, smaller than the maximum DWX drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for IEFA and DWX.
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Drawdown Indicators
| IEFA | DWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -66.86% | +32.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.50% | -8.59% | -2.91% |
Max Drawdown (5Y)Largest decline over 5 years | -30.41% | -26.96% | -3.45% |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | -36.05% | +1.27% |
Current DrawdownCurrent decline from peak | -6.75% | -5.51% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -14.23% | +7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.27% | +0.71% |
Volatility
IEFA vs. DWX - Volatility Comparison
iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 7.51% compared to SPDR S&P International Dividend ETF (DWX) at 5.07%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than DWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFA | DWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.51% | 5.07% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 11.14% | 8.13% | +3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.67% | 12.53% | +5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.36% | 12.13% | +4.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.24% | 15.21% | +2.03% |