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IEFA vs. SCHF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFA vs. SCHF

Last updated Jul 22, 2026
Documentation

IEFA (iShares Core MSCI EAFE ETF) and SCHF (Schwab International Equity ETF) are both Foreign Large Cap Equities funds - IEFA tracks the MSCI EAFE IMI Index (Net) while SCHF tracks the FTSE Developed ex U.S. Index. Both are passively managed. Over the past 10 years, IEFA returned 9.48%/yr vs 10.22%/yr for SCHF. With a 0.99 correlation, they move nearly in lockstep. IEFA charges 0.07%/yr vs 0.06%/yr for SCHF.

Performance

IEFA vs. SCHF - Performance Comparison

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

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Returns By Period

In the year-to-date period, IEFA achieves a 10.11% return, which is significantly lower than SCHF's 14.42% return. Over the past 10 years, IEFA has underperformed SCHF with an annualized return of 9.48%, while SCHF has yielded a comparatively higher 10.22% annualized return.

IEFA

1D
1.41%
1M
-0.38%
6M
7.75%
YTD
10.11%
1Y
20.91%
3Y*
15.73%
5Y*
8.84%
10Y*
9.48%
ALL TIME*
8.43%

SCHF

1D
1.79%
1M
-2.57%
6M
11.04%
YTD
14.42%
1Y
28.14%
3Y*
18.05%
5Y*
10.20%
10Y*
10.22%
ALL TIME*
7.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEFA vs. SCHF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEFA
iShares Core MSCI EAFE ETF		10.11%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%
SCHF
Schwab International Equity ETF		14.42%34.55%3.28%18.35%-14.80%11.40%9.48%22.26%-14.29%26.03%

Correlation

The correlation between IEFA and SCHF 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

0.99

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

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2012

0.99

The correlation between IEFA and SCHF has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

IEFA vs. SCHF - Sectors Allocation Comparison

Sectors
IEFA
SCHF

Financial Services

24.2%
25.5%

Industrials

19.4%
13.9%

Technology

12.1%
17.0%

Healthcare

9.6%
6.9%

Consumer Cyclical

7.8%
6.5%

Basic Materials

6.5%
6.6%

Consumer Defensive

6.4%
5.2%

Communication Services

3.7%
2.5%

Energy

3.5%
5.1%

Utilities

3.5%
3.2%

Real Estate

2.7%
1.9%

Financial Services

IEFA
24.2%
SCHF
25.5%

Industrials

IEFA
19.4%
SCHF
13.9%

Technology

IEFA
12.1%
SCHF
17.0%

Healthcare

IEFA
9.6%
SCHF
6.9%

Consumer Cyclical

IEFA
7.8%
SCHF
6.5%

Basic Materials

IEFA
6.5%
SCHF
6.6%

Consumer Defensive

IEFA
6.4%
SCHF
5.2%

Communication Services

IEFA
3.7%
SCHF
2.5%

Energy

IEFA
3.5%
SCHF
5.1%

Utilities

IEFA
3.5%
SCHF
3.2%

Real Estate

IEFA
2.7%
SCHF
1.9%

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 EAFE ETF

Schwab International Equity ETF

Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS
Often compared with SCHF:
SCHF vs. VXUSSCHF vs. VEASCHF vs. SWISXSCHF vs. SCHYSCHF vs. SCHESCHF vs. FNDFSCHF vs. SCHB

Return for Risk

IEFA vs. SCHF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFA
IEFA Risk / Return Rank: 5252
Overall Rank
IEFA Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 5353
Sortino Ratio Rank
IEFA Omega Ratio Rank: 5151
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4848
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5555
Martin Ratio Rank
SCHF
SCHF Risk / Return Rank: 6767
Overall Rank
SCHF Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
SCHF Sortino Ratio Rank: 6565
Sortino Ratio Rank
SCHF Omega Ratio Rank: 6767
Omega Ratio Rank
SCHF Calmar Ratio Rank: 6666
Calmar Ratio Rank
SCHF Martin Ratio Rank: 7070
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. SCHF - Risk-Adjusted Trends Comparison

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

IEFASCHFDifference
Sharpe ratioReturn per unit of total volatility
1.34
1.64

-0.30

Sortino ratioReturn per unit of downside risk
1.95
2.26

-0.31

Omega ratioGain probability vs. loss probability

1.24

1.30

-0.05

Calmar ratioReturn relative to maximum drawdown

1.83

2.46

-0.63

Martin ratioReturn relative to average drawdown

6.90

9.18

-2.28

IEFA vs. SCHF - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.34, which is comparable to the SCHF Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of IEFA and SCHF, 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. SCHF - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, roughly equal to the maximum SCHF drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for IEFA and SCHF.

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Drawdown Indicators

IEFASCHFDifference

Max Drawdown

Largest peak-to-trough decline

-34.78%

-34.87%

+0.09%

Max Drawdown (1Y)

Largest decline over 1 year

-11.50%

-11.48%

-0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-13.76%

-13.41%

-0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-30.41%

-29.14%

-1.27%

Max Drawdown (10Y)

Largest decline over 10 years

-34.78%

-34.87%

+0.09%

Current Drawdown

Current decline from peak

-1.41%

-2.77%

+1.36%

Average Drawdown

Average peak-to-trough decline

-6.64%

-7.34%

+0.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.04%

3.07%

-0.03%

Volatility

IEFA vs. SCHF - Volatility Comparison

The current volatility for iShares Core MSCI EAFE ETF (IEFA) is 4.22%, while Schwab International Equity ETF (SCHF) has a volatility of 5.67%. This indicates that IEFA experiences smaller price fluctuations and is considered to be less risky than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFASCHFDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.22%

5.67%

-1.45%

Volatility (6M)

Calculated over the trailing 6-month period

13.52%

15.29%

-1.77%

Volatility (1Y)

Calculated over the trailing 1-year period

15.67%

17.28%

-1.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.59%

16.64%

-0.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.02%

17.03%

-0.01%

IEFA vs. SCHF - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is higher than SCHF's 0.06% 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. SCHF - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.39%, more than SCHF's 3.08% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SCHF
Schwab International Equity ETF		3.08%3.42%3.26%2.97%2.80%3.19%2.08%2.95%3.06%2.35%2.58%2.26%

Frequently Asked Questions

With a correlation of 0.98, IEFA and SCHF 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.

SCHF has higher volatility (5.67%) compared to IEFA (4.22%). In terms of maximum drawdown, IEFA dropped -34.78% vs SCHF's -34.87%.

On 10-year performance, SCHF leads with 10.22% vs 9.48% for IEFA. On fees, SCHF is cheaper at 0.06% per year. On volatility, IEFA has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCHF has performed better with a 10.22% return vs 9.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHF is cheaper with a 0.06% expense ratio, compared with 0.07% for IEFA.

IEFA has the higher dividend yield at 3.39%, compared with 3.08% for SCHF.

IEFA tracks MSCI EAFE IMI Index (Net), while SCHF tracks FTSE Developed ex U.S. Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.07% for IEFA and 0.06% for SCHF.

SCHF currently has the higher Sharpe Ratio (1.64 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.

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