IPOS vs. EFAV

Last updated Apr 1, 2026

Compare and contrast key facts about Renaissance International IPO ETF (IPOS) and iShares Edge MSCI Min Vol EAFE ETF (EFAV).

IPOS and EFAV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IPOS is a passively managed fund by Renaissance Capital that tracks the performance of the Renaissance International IPO Index. It was launched on Oct 6, 2014. EFAV is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Minimum Volatility Index. It was launched on Oct 18, 2011. Both IPOS and EFAV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IPOS vs. EFAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Renaissance International IPO ETF (IPOS) and iShares Edge MSCI Min Vol EAFE ETF (EFAV). The values are adjusted to include any dividend payments, if applicable.

IPOS vs. EFAV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPOS Renaissance International IPO ETF	7.91%	39.93%	-12.34%	-16.49%	-33.46%	-30.62%	50.71%	30.93%	-22.33%	36.83%
EFAV iShares Edge MSCI Min Vol EAFE ETF	5.94%	26.00%	5.30%	12.52%	-15.11%	7.20%	-0.06%	16.67%	-5.74%	22.24%

Returns By Period

In the year-to-date period, IPOS achieves a 7.91% return, which is significantly higher than EFAV's 5.94% return. Over the past 10 years, IPOS has underperformed EFAV with an annualized return of 0.20%, while EFAV has yielded a comparatively higher 6.46% annualized return.

IPOS

• 1D: 3.24%
• 1M: -8.63%
• YTD: 7.91%
• 6M: 4.10%
• 1Y: 44.00%
• 3Y*: 4.31%
• 5Y*: -12.01%
• 10Y*: 0.20%

EFAV

• 1D: 1.98%
• 1M: -3.69%
• YTD: 5.94%
• 6M: 9.18%
• 1Y: 21.13%
• 3Y*: 14.12%
• 5Y*: 7.53%
• 10Y*: 6.46%

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

IPOS vs. EFAV - Expense Ratio Comparison

IPOS has a 0.80% expense ratio, which is higher than EFAV's 0.20% expense ratio.

IPOS

Renaissance International IPO ETF

EFAV

iShares Edge MSCI Min Vol EAFE ETF

Return for Risk

IPOS vs. EFAV — Risk / Return Rank

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

IPOS

IPOS Risk / Return Rank: 79
IPOS Sharpe Ratio Rank: 81
IPOS Sortino Ratio Rank: 76
IPOS Omega Ratio Rank: 79
IPOS Calmar Ratio Rank: 84
IPOS Martin Ratio Rank: 74

EFAV

EFAV Risk / Return Rank: 88
EFAV Sharpe Ratio Rank: 87
EFAV Sortino Ratio Rank: 87
EFAV Omega Ratio Rank: 86
EFAV Calmar Ratio Rank: 90
EFAV Martin Ratio Rank: 89

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.

IPOS vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Renaissance International IPO ETF (IPOS) and iShares Edge MSCI Min Vol EAFE ETF (EFAV). 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.

	IPOS	EFAV	Difference
Sharpe ratio Return per unit of total volatility	1.52	1.74	-0.22
Sortino ratio Return per unit of downside risk	1.95	2.33	-0.38
Omega ratio Gain probability vs. loss probability	1.30	1.34	-0.03
Calmar ratio Return relative to maximum drawdown	2.49	2.88	-0.39
Martin ratio Return relative to average drawdown	7.61	10.58	-2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPOS vs. EFAV - Sharpe Ratio Comparison

The current IPOS Sharpe Ratio is 1.52, which is comparable to the EFAV Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of IPOS and EFAV, 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

	IPOS	EFAV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.74	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.46	0.65	-1.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.01	0.49	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.55	-0.56

Correlation

The correlation between IPOS and EFAV is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IPOS vs. EFAV - Dividend Comparison

IPOS's dividend yield for the trailing twelve months is around 0.88%, less than EFAV's 3.02% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPOS Renaissance International IPO ETF	0.88%	1.04%	0.93%	0.33%	0.00%	0.00%	0.25%	0.89%	1.12%	0.87%	1.73%	1.08%
EFAV iShares Edge MSCI Min Vol EAFE ETF	3.02%	3.20%	3.24%	3.08%	2.53%	2.47%	1.33%	4.19%	3.34%	2.45%	3.94%	2.49%

Drawdowns

IPOS vs. EFAV - Drawdown Comparison

The maximum IPOS drawdown since its inception was -73.09%, which is greater than EFAV's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for IPOS and EFAV.

Drawdown Indicators

	IPOS	EFAV	Difference
Max Drawdown Largest peak-to-trough decline	-73.09%	-27.56%	-45.53%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-7.14%	-10.03%
Max Drawdown (5Y) Largest decline over 5 years	-70.33%	-27.46%	-42.87%
Max Drawdown (10Y) Largest decline over 10 years	-73.09%	-27.56%	-45.53%
Current Drawdown Current decline from peak	-54.15%	-3.69%	-50.46%
Average Drawdown Average peak-to-trough decline	-31.77%	-4.78%	-26.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	1.94%	+3.68%

Volatility

IPOS vs. EFAV - Volatility Comparison

Renaissance International IPO ETF (IPOS) has a higher volatility of 17.95% compared to iShares Edge MSCI Min Vol EAFE ETF (EFAV) at 5.19%. This indicates that IPOS's price experiences larger fluctuations and is considered to be riskier than EFAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPOS	EFAV	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.95%	5.19%	+12.76%
Volatility (6M) Calculated over the trailing 6-month period	23.95%	7.57%	+16.38%
Volatility (1Y) Calculated over the trailing 1-year period	29.09%	12.22%	+16.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.49%	11.74%	+14.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.69%	13.21%	+10.48%