IMAR vs. EFA

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator International Developed Power Buffer ETF - March (IMAR) and iShares MSCI EAFE ETF (EFA).

IMAR and EFA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMAR is an actively managed fund by Innovator. It was launched on Feb 29, 2024. EFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Index. It was launched on Aug 14, 2001.

Performance

IMAR vs. EFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - March (IMAR) and iShares MSCI EAFE ETF (EFA). The values are adjusted to include any dividend payments, if applicable.

IMAR vs. EFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IMAR Innovator International Developed Power Buffer ETF - March	-2.81%	18.88%	-0.77%
EFA iShares MSCI EAFE ETF	1.15%	31.55%	-0.03%

Returns By Period

In the year-to-date period, IMAR achieves a -2.81% return, which is significantly lower than EFA's 1.15% return.

IMAR

• 1D: 2.11%
• 1M: -4.91%
• YTD: -2.81%
• 6M: 0.16%
• 1Y: 9.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFA

• 1D: 3.25%
• 1M: -7.83%
• YTD: 1.15%
• 6M: 5.91%
• 1Y: 23.09%
• 3Y*: 14.36%
• 5Y*: 8.10%
• 10Y*: 8.77%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IMAR vs. EFA - Expense Ratio Comparison

IMAR has a 0.85% expense ratio, which is higher than EFA's 0.32% expense ratio.

IMAR

Innovator International Developed Power Buffer ETF - March

EFA

iShares MSCI EAFE ETF

Return for Risk

IMAR vs. EFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMAR

IMAR Risk / Return Rank: 57
IMAR Sharpe Ratio Rank: 59
IMAR Sortino Ratio Rank: 53
IMAR Omega Ratio Rank: 66
IMAR Calmar Ratio Rank: 51
IMAR Martin Ratio Rank: 54

EFA

EFA Risk / Return Rank: 76
EFA Sharpe Ratio Rank: 76
EFA Sortino Ratio Rank: 77
EFA Omega Ratio Rank: 76
EFA Calmar Ratio Rank: 77
EFA Martin Ratio Rank: 75

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.

IMAR vs. EFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - March (IMAR) and iShares MSCI EAFE ETF (EFA). 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.

	IMAR	EFA	Difference
Sharpe ratio Return per unit of total volatility	1.05	1.31	-0.26
Sortino ratio Return per unit of downside risk	1.44	1.87	-0.43
Omega ratio Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio Return relative to maximum drawdown	1.34	1.93	-0.59
Martin ratio Return relative to average drawdown	5.32	7.39	-2.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMAR vs. EFA - Sharpe Ratio Comparison

The current IMAR Sharpe Ratio is 1.05, which is comparable to the EFA Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of IMAR and EFA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IMAR	EFA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.31	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.30	+0.44

Correlation

The correlation between IMAR and EFA is 0.94, 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

IMAR vs. EFA - Dividend Comparison

IMAR has not paid dividends to shareholders, while EFA's dividend yield for the trailing twelve months is around 3.34%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMAR Innovator International Developed Power Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EFA iShares MSCI EAFE ETF	3.34%	3.38%	3.24%	2.98%	2.69%	3.33%	2.13%	3.10%	3.39%	2.57%	3.07%	2.76%

Drawdowns

IMAR vs. EFA - Drawdown Comparison

The maximum IMAR drawdown since its inception was -9.05%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for IMAR and EFA.

Drawdown Indicators

	IMAR	EFA	Difference
Max Drawdown Largest peak-to-trough decline	-9.05%	-61.04%	+51.99%
Max Drawdown (1Y) Largest decline over 1 year	-6.91%	-11.42%	+4.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.19%	—
Current Drawdown Current decline from peak	-4.91%	-8.07%	+3.16%
Average Drawdown Average peak-to-trough decline	-1.90%	-12.00%	+10.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	2.98%	-1.24%

Volatility

IMAR vs. EFA - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - March (IMAR) is 4.82%, while iShares MSCI EAFE ETF (EFA) has a volatility of 7.92%. This indicates that IMAR experiences smaller price fluctuations and is considered to be less risky than EFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMAR	EFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	7.92%	-3.10%
Volatility (6M) Calculated over the trailing 6-month period	5.79%	11.12%	-5.33%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	17.71%	-8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.21%	16.31%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.21%	17.20%	-7.99%