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INCO vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INCO vs. IEFA

Last updated Jun 5, 2026

INCO (Columbia India Consumer ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - INCO is a Asia Pacific Equities fund tracking the Indxx India Consumer Index, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 10 years, INCO returned 8.34%/yr vs 9.25%/yr for IEFA. At a 0.50 correlation, their price movements are largely independent. INCO charges 0.75%/yr vs 0.07%/yr for IEFA.

Performance

INCO vs. IEFA - Performance Comparison

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

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Returns By Period

In the year-to-date period, INCO achieves a -10.75% return, which is significantly lower than IEFA's 9.67% return. Over the past 10 years, INCO has underperformed IEFA with an annualized return of 8.34%, while IEFA has yielded a comparatively higher 9.25% annualized return.

INCO

1D
1.72%
1M
-2.34%
YTD
-10.75%
6M
-9.88%
1Y
-9.38%
3Y*
7.06%
5Y*
5.92%
10Y*
8.34%

IEFA

1D
0.75%
1M
2.81%
YTD
9.67%
6M
12.00%
1Y
22.30%
3Y*
17.24%
5Y*
8.23%
10Y*
9.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

INCO vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INCO
Columbia India Consumer ETF		-10.75%0.59%12.70%34.63%-7.01%19.28%14.55%-4.22%-10.81%53.28%
IEFA
iShares Core MSCI EAFE ETF		9.67%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between INCO and IEFA is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

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

0.48

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

0.51

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2012

0.50

The correlation between INCO and IEFA has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.

INCO vs. IEFA - Sectors Allocation Comparison

Sectors
INCO
IEFA

Consumer Cyclical

59.3%
8.0%

Consumer Defensive

37.5%
6.6%

Technology

1.9%
10.8%

Industrials

1.4%
20.1%

Basic Materials

-

7.0%

Communication Services

-

4.4%

Energy

-

3.8%

Financial Services

-

22.5%

Healthcare

-

9.5%

Real Estate

-

3.0%

Utilities

-

3.6%

Consumer Cyclical

INCO
59.3%
IEFA
8.0%

Consumer Defensive

INCO
37.5%
IEFA
6.6%

Technology

INCO
1.9%
IEFA
10.8%

Industrials

INCO
1.4%
IEFA
20.1%

Basic Materials

INCO

-

IEFA
7.0%

Communication Services

INCO

-

IEFA
4.4%

Energy

INCO

-

IEFA
3.8%

Financial Services

INCO

-

IEFA
22.5%

Healthcare

INCO

-

IEFA
9.5%

Real Estate

INCO

-

IEFA
3.0%

Utilities

INCO

-

IEFA
3.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Columbia India Consumer ETF

iShares Core MSCI EAFE ETF

Often compared with INCO:
INCO vs. INDAINCO vs. INDYINCO vs. FLININCO vs. EPIINCO vs. SMININCO vs. GLININCO vs. INQQ
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

INCO vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INCO
INCO Risk / Return Rank: 44
Overall Rank
INCO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
INCO Sortino Ratio Rank: 44
Sortino Ratio Rank
INCO Omega Ratio Rank: 44
Omega Ratio Rank
INCO Calmar Ratio Rank: 55
Calmar Ratio Rank
INCO Martin Ratio Rank: 44
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4444
Overall Rank
IEFA Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4444
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4444
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4141
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4646
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.

INCO vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) and iShares Core MSCI EAFE ETF (IEFA). 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.

INCOIEFADifference
Sharpe ratioReturn per unit of total volatility
-0.56
1.50

-2.06

Sortino ratioReturn per unit of downside risk
-0.71
2.16

-2.88

Omega ratioGain probability vs. loss probability

0.92

1.27

-0.35

Calmar ratioReturn relative to maximum drawdown

-0.44

1.95

-2.39

Martin ratioReturn relative to average drawdown

-1.13

7.43

-8.56

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INCO vs. IEFA - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.56, which is lower than the IEFA Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of INCO and IEFA, 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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Sharpe Ratios by Period

INCOIEFADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.56

1.50

-2.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

0.50

-0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.41

0.54

-0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.51

-0.09

Drawdowns

INCO vs. IEFA - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for INCO and IEFA.

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Drawdown Indicators

INCOIEFADifference

Max Drawdown

Largest peak-to-trough decline

-47.69%

-34.78%

-12.91%

Max Drawdown (1Y)

Largest decline over 1 year

-21.37%

-11.50%

-9.87%

Max Drawdown (3Y)

Largest decline over 3 years

-29.98%

-13.76%

-16.22%

Max Drawdown (5Y)

Largest decline over 5 years

-29.98%

-30.41%

+0.43%

Max Drawdown (10Y)

Largest decline over 10 years

-47.69%

-34.78%

-12.91%

Current Drawdown

Current decline from peak

-24.00%

-0.46%

-23.54%

Average Drawdown

Average peak-to-trough decline

-10.58%

-6.69%

-3.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.35%

3.01%

+5.34%

Volatility

INCO vs. IEFA - Volatility Comparison

Columbia India Consumer ETF (INCO) has a higher volatility of 5.78% compared to iShares Core MSCI EAFE ETF (IEFA) at 4.75%. This indicates that INCO's price experiences larger fluctuations and is considered to be riskier than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INCOIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.78%

4.75%

+1.03%

Volatility (6M)

Calculated over the trailing 6-month period

14.38%

12.44%

+1.94%

Volatility (1Y)

Calculated over the trailing 1-year period

16.86%

14.94%

+1.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.90%

16.50%

+0.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.31%

17.29%

+3.02%

INCO vs. IEFA - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

INCO vs. IEFA - Dividend Comparison

INCO has not paid dividends to shareholders, while IEFA's dividend yield for the trailing twelve months is around 3.24%.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.24%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
INCO
Columbia India Consumer ETF		0.00%0.00%2.88%3.81%10.57%6.25%0.34%0.28%0.12%0.05%0.09%0.00%

Frequently Asked Questions

INCO and IEFA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INCO has higher volatility (5.78%) compared to IEFA (4.75%). In terms of maximum drawdown, INCO dropped -47.69% vs IEFA's -34.78%.

On 10-year performance, IEFA leads with 9.25% vs 8.34% for INCO. On fees, IEFA is cheaper at 0.07% per year. On volatility, IEFA has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IEFA has performed better with a 9.25% return vs 8.34%. 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 0.75% for INCO.

IEFA has the higher dividend yield at 3.24%, compared with 0.00% for INCO.

INCO is categorized as Asia Pacific Equities, while IEFA is Foreign Large Cap Equities. INCO tracks Indxx India Consumer Index, while IEFA tracks MSCI EAFE IMI Index (Net). They also come from different issuers: Ameriprise Financial and iShares. Their fees differ too: 0.75% for INCO and 0.07% for IEFA.

IEFA currently has the higher Sharpe Ratio (1.50 vs -0.56), 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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