IEFA vs. TBUX
IEFA (iShares Core MSCI EAFE ETF) and TBUX (T. Rowe Price Ultra Short-Term Bond ETF) are both exchange-traded funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while TBUX is a Ultrashort Bond fund actively managed by T. Rowe Price. IEFA is passively managed, while TBUX is actively managed. Over the past 3 years, IEFA returned 15.19%/yr vs 5.75%/yr for TBUX. At a 0.16 correlation, their price movements are largely independent. IEFA charges 0.07%/yr vs 0.17%/yr for TBUX.
Performance
IEFA vs. TBUX - Performance Comparison
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Returns By Period
In the year-to-date period, IEFA achieves a 8.58% return, which is significantly higher than TBUX's 2.21% return.
IEFA
- 1D
- -0.71%
- 1M
- -1.77%
- 6M
- 4.73%
- YTD
- 8.58%
- 1Y
- 19.92%
- 3Y*
- 15.19%
- 5Y*
- 8.55%
- 10Y*
- 9.33%
- ALL TIME*
- 8.32%
TBUX
- 1D
- 0.02%
- 1M
- 0.37%
- 6M
- 2.05%
- YTD
- 2.21%
- 1Y
- 4.64%
- 3Y*
- 5.75%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.12%
IEFA vs. TBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IEFA iShares Core MSCI EAFE ETF | 8.58% | 32.08% | 3.26% | 17.95% | -15.24% | 1.82% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 2.21% | 5.37% | 6.38% | 6.39% | -0.13% | -0.25% |
Correlation
The correlation between IEFA and TBUX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.16 |
The correlation between IEFA and TBUX shifts across timeframes, from 0.16 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEFA vs. TBUX — Risk / Return Rank
IEFA
TBUX
IEFA vs. TBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and T. Rowe Price Ultra Short-Term Bond ETF (TBUX). 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 | TBUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.77 | ||
| Sortino ratioReturn per unit of downside risk | -12.14 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 3.05 | -1.82 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 46.42 | -44.68 |
| Martin ratioReturn relative to average drawdown | 6.57 | 173.65 | -167.08 |
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Drawdowns
IEFA vs. TBUX - Drawdown Comparison
The maximum IEFA drawdown since its inception was -34.78%, which is greater than TBUX's maximum drawdown of -1.82%. Use the drawdown chart below to compare losses from any high point for IEFA and TBUX.
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Drawdown Indicators
| IEFA | TBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -1.82% | -32.96% |
Max Drawdown (1Y)Largest decline over 1 year | -11.50% | -0.10% | -11.40% |
Max Drawdown (3Y)Largest decline over 3 years | -13.76% | -0.33% | -13.43% |
Max Drawdown (5Y)Largest decline over 5 years | -30.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | — | — |
Current DrawdownCurrent decline from peak | -2.79% | 0.00% | -2.79% |
Average DrawdownAverage peak-to-trough decline | -6.64% | -0.28% | -6.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 0.03% | +3.01% |
Volatility
IEFA vs. TBUX - Volatility Comparison
iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 3.99% compared to T. Rowe Price Ultra Short-Term Bond ETF (TBUX) at 0.16%. This indicates that IEFA's price experiences larger fluctuations and is considered to be riskier than TBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFA | TBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 0.16% | +3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 13.45% | 0.48% | +12.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 0.66% | +14.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.59% | 1.06% | +15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 1.06% | +15.95% |
IEFA vs. TBUX - Expense Ratio Comparison
IEFA has a 0.07% expense ratio, which is lower than TBUX's 0.17% expense ratio. Despite the difference, 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. TBUX - Dividend Comparison
IEFA's dividend yield for the trailing twelve months is around 3.44%, less than TBUX's 4.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEFA iShares Core MSCI EAFE ETF | 3.44% | 3.55% | 3.47% | 3.20% | 2.70% | 3.32% | 1.90% | 3.18% | 3.46% | 2.57% | 2.96% | 2.63% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 4.44% | 4.67% | 5.39% | 4.66% | 2.58% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEFA and TBUX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEFA has higher volatility (3.99%) compared to TBUX (0.16%). In terms of maximum drawdown, IEFA dropped -34.78% vs TBUX's -1.82%.
On 3-year performance, IEFA leads with 15.19% vs 5.75% for TBUX. On fees, IEFA is cheaper at 0.07% per year. On volatility, TBUX has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEFA has performed better with a 15.19% return vs 5.75%. 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 0.17% for TBUX.
TBUX has the higher dividend yield at 4.44%, compared with 3.44% for IEFA.
IEFA is categorized as Foreign Large Cap Equities, while TBUX is Ultrashort Bond. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.07% for IEFA and 0.17% for TBUX.
TBUX currently has the higher Sharpe Ratio (7.05 vs 1.28), 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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