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IEFA vs. IQLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFA vs. IQLT

Last updated Aug 2, 2026
Documentation

IEFA (iShares Core MSCI EAFE ETF) and IQLT (iShares MSCI Intl Quality Factor ETF) are both exchange-traded funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while IQLT is a Quality Factor fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net). Both are passively managed. Over the past 10 years, IEFA returned 9.53%/yr vs 9.70%/yr for IQLT. Their correlation of 0.89 means they have usually moved in the same direction. IEFA charges 0.07%/yr vs 0.30%/yr for IQLT.

Performance

IEFA vs. IQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and iShares MSCI Intl Quality Factor ETF (IQLT). 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 IEFA having a 11.62% return and IQLT slightly higher at 12.06%. Both investments have delivered pretty close results over the past 10 years, with IEFA having a 9.53% annualized return and IQLT not far ahead at 9.70%.

IEFA

1D
-0.64%
1M
0.98%
6M
6.18%
YTD
11.62%
1Y
24.58%
3Y*
16.46%
5Y*
8.91%
10Y*
9.53%
ALL TIME*
8.52%

IQLT

1D
-0.81%
1M
1.15%
6M
6.98%
YTD
12.06%
1Y
24.16%
3Y*
14.51%
5Y*
7.74%
10Y*
9.70%
ALL TIME*
8.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IEFA

iShares Core MSCI EAFE ETF
$832.02M$871.11M$936.56M

IQLT

iShares MSCI Intl Quality Factor ETF
$80.44M$83.91M$72.09M

IEFA vs. IQLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEFA
iShares Core MSCI EAFE ETF		11.62%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%
IQLT
iShares MSCI Intl Quality Factor ETF		12.06%25.42%1.54%18.73%-15.22%12.94%12.48%28.18%-10.76%24.04%

Correlation

The correlation between IEFA and IQLT is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.97

Correlation (3Y)
Balances recent behavior with more history.

0.97

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.97

Correlation (10Y)
Provides a long-term view across more market conditions.

0.95

Correlation (All Time)
Calculated using the full available price history since Jan 15, 2015

0.89

The correlation between IEFA and IQLT has been stable across timeframes, ranging from 0.89 to 0.97 - a consistent structural relationship.

IEFA vs. IQLT - Sectors Allocation Comparison

Sectors
IEFA
IQLT

Financial Services

23.1%
26.4%

Industrials

19.7%
18.0%

Technology

12.6%
12.3%

Healthcare

9.8%
8.8%

Consumer Cyclical

8.1%
7.7%

Consumer Defensive

6.5%
6.4%

Basic Materials

6.3%
6.7%

Communication Services

4.3%
2.4%

Utilities

3.5%
3.7%

Energy

3.3%
5.5%

Real Estate

2.8%
1.5%

Financial Services

IEFA
23.1%
IQLT
26.4%

Industrials

IEFA
19.7%
IQLT
18.0%

Technology

IEFA
12.6%
IQLT
12.3%

Healthcare

IEFA
9.8%
IQLT
8.8%

Consumer Cyclical

IEFA
8.1%
IQLT
7.7%

Consumer Defensive

IEFA
6.5%
IQLT
6.4%

Basic Materials

IEFA
6.3%
IQLT
6.7%

Communication Services

IEFA
4.3%
IQLT
2.4%

Utilities

IEFA
3.5%
IQLT
3.7%

Energy

IEFA
3.3%
IQLT
5.5%

Real Estate

IEFA
2.8%
IQLT
1.5%

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 MSCI Intl Quality Factor ETF

Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS
Often compared with IQLT:
IQLT vs. VIGIIQLT vs. SPYIQLT vs. QEFAIQLT vs. ACWXIQLT vs. VOOIQLT vs. DIHRXIQLT vs. ACWI

Return for Risk

IEFA vs. IQLT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IEFA
IEFA Risk / Return Rank: 6767
Overall Rank
IEFA Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 6969
Sortino Ratio Rank
IEFA Omega Ratio Rank: 6868
Omega Ratio Rank
IEFA Calmar Ratio Rank: 6161
Calmar Ratio Rank
IEFA Martin Ratio Rank: 6767
Martin Ratio Rank
IQLT
IQLT Risk / Return Rank: 6969
Overall Rank
IQLT Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IQLT Sortino Ratio Rank: 7070
Sortino Ratio Rank
IQLT Omega Ratio Rank: 6666
Omega Ratio Rank
IQLT Calmar Ratio Rank: 6666
Calmar Ratio Rank
IQLT Martin Ratio Rank: 7474
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IEFA vs. IQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and iShares MSCI Intl Quality Factor ETF (IQLT). 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.

IEFAIQLTDifference
Sharpe ratioReturn per unit of total volatility
1.56
1.58

-0.02

Sortino ratioReturn per unit of downside risk
2.24
2.28

-0.04

Omega ratioGain probability vs. loss probability

1.28

1.28

+0.01

Calmar ratioReturn relative to maximum drawdown

2.13

2.30

-0.17

Martin ratioReturn relative to average drawdown

8.15

9.18

-1.03

IEFA vs. IQLT - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.56, which is comparable to the IQLT Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IEFA and IQLT, 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. IQLT - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, which is greater than IQLT's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for IEFA and IQLT.

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Drawdown Indicators

IEFAIQLTDifference

Max Drawdown

Largest peak-to-trough decline

-34.78%

-32.21%

-2.57%

Max Drawdown (1Y)

Largest decline over 1 year

-11.50%

-10.38%

-1.12%

Max Drawdown (3Y)

Largest decline over 3 years

-13.76%

-13.18%

-0.58%

Max Drawdown (5Y)

Largest decline over 5 years

-30.41%

-30.24%

-0.17%

Max Drawdown (10Y)

Largest decline over 10 years

-34.78%

-32.21%

-2.57%

Current Drawdown

Current decline from peak

-0.64%

-0.81%

+0.17%

Average Drawdown

Average peak-to-trough decline

-6.63%

-6.15%

-0.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.99%

2.59%

+0.40%

Volatility

IEFA vs. IQLT - Volatility Comparison

iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 4.75% compared to iShares MSCI Intl Quality Factor ETF (IQLT) at 3.86%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than IQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFAIQLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.75%

3.86%

+0.89%

Volatility (6M)

Calculated over the trailing 6-month period

13.63%

12.95%

+0.68%

Volatility (1Y)

Calculated over the trailing 1-year period

15.69%

15.13%

+0.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.63%

16.57%

+0.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.03%

16.77%

+0.26%

IEFA vs. IQLT - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is lower than IQLT's 0.30% expense ratio.

Dividends

IEFA vs. IQLT - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.35%, more than IQLT's 2.38% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.35%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
IQLT
iShares MSCI Intl Quality Factor ETF		2.38%2.33%2.87%2.27%3.14%2.24%1.61%2.28%2.72%2.36%2.91%2.78%

Frequently Asked Questions

With a correlation of 0.97, IEFA and IQLT 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 (4.75%) compared to IQLT (3.86%). In terms of maximum drawdown, IEFA dropped -34.78% vs IQLT's -32.21%.

On 10-year performance, IQLT leads with 9.70% vs 9.53% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IQLT has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IQLT has performed better with a 9.70% return vs 9.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEFA is cheaper with a 0.07% expense ratio, compared with 0.30% for IQLT.

IEFA has the higher dividend yield at 3.35%, compared with 2.38% for IQLT.

IEFA is categorized as Foreign Large Cap Equities, while IQLT is Quality Factor. IEFA tracks MSCI EAFE IMI Index (Net), while IQLT tracks MSCI World ex USA Sector Neutral Quality Index (Net). Their fees differ too: 0.07% for IEFA and 0.30% for IQLT.

IQLT currently has the higher Sharpe Ratio (1.58 vs 1.56), 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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