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IEFA vs. IDEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFA vs. IDEV

Last updated Jun 23, 2026

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

Performance

IEFA vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and iShares Core MSCI International Developed Markets ETF (IDEV). 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 stocks are quite close, with IEFA having a 10.65% return and IDEV slightly lower at 10.38%.

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%

IDEV

1D
0.15%
1M
1.58%
YTD
10.38%
6M
10.58%
1Y
26.25%
3Y*
18.20%
5Y*
9.19%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEFA vs. IDEV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
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%

Correlation

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

IEFA vs. IDEV - Sectors Allocation Comparison

Sectors
IEFA
IDEV

Financial Services

22.6%
24.0%

Industrials

20.1%
18.8%

Technology

11.6%
11.1%

Healthcare

9.7%
8.5%

Consumer Cyclical

8.3%
7.7%

Basic Materials

6.8%
8.3%

Consumer Defensive

6.2%
5.8%

Communication Services

4.7%
4.3%

Energy

3.6%
5.4%

Utilities

3.5%
3.4%

Real Estate

2.9%
2.7%

Financial Services

IEFA
22.6%
IDEV
24.0%

Industrials

IEFA
20.1%
IDEV
18.8%

Technology

IEFA
11.6%
IDEV
11.1%

Healthcare

IEFA
9.7%
IDEV
8.5%

Consumer Cyclical

IEFA
8.3%
IDEV
7.7%

Basic Materials

IEFA
6.8%
IDEV
8.3%

Consumer Defensive

IEFA
6.2%
IDEV
5.8%

Communication Services

IEFA
4.7%
IDEV
4.3%

Energy

IEFA
3.6%
IDEV
5.4%

Utilities

IEFA
3.5%
IDEV
3.4%

Real Estate

IEFA
2.9%
IDEV
2.7%

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 EAFE ETF

iShares Core MSCI International Developed Markets ETF

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

Return for Risk

IEFA vs. IDEV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
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
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. IDEV - Risk-Adjusted Trends Comparison

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

IEFAIDEVDifference
Sharpe ratioReturn per unit of total volatility
1.66
1.76

-0.10

Sortino ratioReturn per unit of downside risk
2.38
2.48

-0.10

Omega ratioGain probability vs. loss probability

1.30

1.32

-0.01

Calmar ratioReturn relative to maximum drawdown

2.23

2.35

-0.12

Martin ratioReturn relative to average drawdown

8.48

9.21

-0.73

IEFA vs. IDEV - Sharpe Ratio Comparison

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

IEFA vs. IDEV - Drawdown Comparison

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

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Drawdown Indicators

IEFAIDEVDifference

Max Drawdown

Largest peak-to-trough decline

-34.78%

-34.77%

-0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-11.50%

-11.20%

-0.30%

Max Drawdown (3Y)

Largest decline over 3 years

-13.76%

-13.41%

-0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-30.41%

-29.15%

-1.26%

Max Drawdown (10Y)

Largest decline over 10 years

-34.78%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.13%

+0.13%

Average Drawdown

Average peak-to-trough decline

-6.67%

-6.53%

-0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

2.86%

+0.16%

Volatility

IEFA vs. IDEV - Volatility Comparison

iShares Core MSCI EAFE ETF (IEFA) and iShares Core MSCI International Developed Markets ETF (IDEV) have volatilities of 4.85% and 4.70%, 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

IEFAIDEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.85%

4.70%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

13.07%

12.69%

+0.38%

Volatility (1Y)

Calculated over the trailing 1-year period

15.44%

14.97%

+0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.59%

16.33%

+0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.27%

17.28%

-0.01%

IEFA vs. IDEV - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is higher than IDEV's 0.05% 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. IDEV - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.38%, more than IDEV's 3.20% 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, IEFA and IDEV 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, IEFA dropped -34.78% vs IDEV's -34.77%.

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.

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

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.

Portfolio Optimizer

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