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IVE vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVE vs. IEFA

Last updated Jun 21, 2026

IVE (iShares S&P 500 Value ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - IVE is a Large Cap Value Equities fund tracking the S&P 500 Value 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, IVE returned 11.79%/yr vs 9.55%/yr for IEFA. A 0.77 correlation means they provide meaningful diversification when combined. IVE charges 0.18%/yr vs 0.07%/yr for IEFA.

Performance

IVE vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Value ETF (IVE) 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, IVE achieves a 7.56% return, which is significantly lower than IEFA's 10.53% return. Over the past 10 years, IVE has outperformed IEFA with an annualized return of 11.79%, while IEFA has yielded a comparatively lower 9.55% annualized return.

IVE

1D
0.26%
1M
0.50%
YTD
7.56%
6M
7.55%
1Y
20.96%
3Y*
14.31%
5Y*
11.63%
10Y*
11.79%

IEFA

1D
0.50%
1M
1.63%
YTD
10.53%
6M
11.29%
1Y
25.39%
3Y*
16.23%
5Y*
9.02%
10Y*
9.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVE vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVE
iShares S&P 500 Value ETF		7.56%13.02%12.03%22.07%-5.41%24.72%1.22%31.62%-9.22%15.24%
IEFA
iShares Core MSCI EAFE ETF		10.53%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between IVE and IEFA is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.71

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

0.69

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

0.75

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

0.75

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

0.77

The correlation between IVE and IEFA has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

IVE vs. IEFA - Sectors Allocation Comparison

Sectors
IVE
IEFA

Technology

22.4%
11.6%

Financial Services

14.6%
22.6%

Healthcare

11.5%
9.7%

Consumer Cyclical

11.1%
8.3%

Industrials

10.4%
20.1%

Consumer Defensive

8.9%
6.2%

Energy

7.0%
3.6%

Utilities

4.3%
3.5%

Real Estate

3.4%
2.9%

Basic Materials

3.3%
6.8%

Communication Services

3.2%
4.7%

Technology

IVE
22.4%
IEFA
11.6%

Financial Services

IVE
14.6%
IEFA
22.6%

Healthcare

IVE
11.5%
IEFA
9.7%

Consumer Cyclical

IVE
11.1%
IEFA
8.3%

Industrials

IVE
10.4%
IEFA
20.1%

Consumer Defensive

IVE
8.9%
IEFA
6.2%

Energy

IVE
7.0%
IEFA
3.6%

Utilities

IVE
4.3%
IEFA
3.5%

Real Estate

IVE
3.4%
IEFA
2.9%

Basic Materials

IVE
3.3%
IEFA
6.8%

Communication Services

IVE
3.2%
IEFA
4.7%

Compare stocks, funds, or ETFs

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

iShares S&P 500 Value ETF

iShares Core MSCI EAFE ETF

Often compared with IVE:
IVE vs. IVWIVE vs. IVVIVE vs. SPYIVE vs. VTVIVE vs. QQQIVE vs. VOOIVE vs. VOOV
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

IVE vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVE
IVE Risk / Return Rank: 7070
Overall Rank
IVE Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
IVE Sortino Ratio Rank: 7070
Sortino Ratio Rank
IVE Omega Ratio Rank: 6868
Omega Ratio Rank
IVE Calmar Ratio Rank: 7272
Calmar Ratio Rank
IVE Martin Ratio Rank: 7373
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4747
Overall Rank
IEFA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4848
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4747
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4444
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5050
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.

IVE vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Value ETF (IVE) 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.

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.

IVEIEFADifference
Sharpe ratioReturn per unit of total volatility
2.15
1.58

+0.56

Sortino ratioReturn per unit of downside risk
2.98
2.27

+0.71

Omega ratioGain probability vs. loss probability

1.38

1.29

+0.10

Calmar ratioReturn relative to maximum drawdown

3.44

2.12

+1.32

Martin ratioReturn relative to average drawdown

13.05

8.08

+4.97

IVE vs. IEFA - Sharpe Ratio Comparison

The current IVE Sharpe Ratio is 2.15, which is higher than the IEFA Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IVE 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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Drawdowns

IVE vs. IEFA - Drawdown Comparison

The maximum IVE drawdown since its inception was -61.32%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for IVE and IEFA.

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Drawdown Indicators

IVEIEFADifference

Max Drawdown

Largest peak-to-trough decline

-61.32%

-34.78%

-26.54%

Max Drawdown (1Y)

Largest decline over 1 year

-6.19%

-11.50%

+5.31%

Max Drawdown (3Y)

Largest decline over 3 years

-17.58%

-13.76%

-3.82%

Max Drawdown (5Y)

Largest decline over 5 years

-18.04%

-30.41%

+12.37%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-34.78%

-2.26%

Current Drawdown

Current decline from peak

-1.14%

0.00%

-1.14%

Average Drawdown

Average peak-to-trough decline

-10.09%

-6.67%

-3.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.63%

3.02%

-1.39%

Volatility

IVE vs. IEFA - Volatility Comparison

The current volatility for iShares S&P 500 Value ETF (IVE) is 2.99%, while iShares Core MSCI EAFE ETF (IEFA) has a volatility of 5.07%. This indicates that IVE experiences smaller price fluctuations and is considered to be less risky 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

IVEIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

2.99%

5.07%

-2.08%

Volatility (6M)

Calculated over the trailing 6-month period

7.33%

13.10%

-5.77%

Volatility (1Y)

Calculated over the trailing 1-year period

9.93%

15.44%

-5.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.41%

16.59%

-2.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.97%

17.30%

-0.33%

IVE vs. IEFA - Expense Ratio Comparison

IVE has a 0.18% expense ratio, which is higher than IEFA's 0.07% 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

IVE vs. IEFA - Dividend Comparison

IVE's dividend yield for the trailing twelve months is around 1.57%, less than IEFA's 3.38% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.38%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
IVE
iShares S&P 500 Value ETF		1.57%1.61%2.04%1.65%2.10%1.81%2.37%2.11%2.74%2.12%2.26%2.44%

Frequently Asked Questions

IVE and IEFA have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA has higher volatility (5.07%) compared to IVE (2.99%). In terms of maximum drawdown, IVE dropped -61.32% vs IEFA's -34.78%.

On 10-year performance, IVE leads with 11.79% vs 9.55% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IVE has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVE has performed better with a 11.79% return vs 9.55%. 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 0.18% for IVE.

IEFA has the higher dividend yield at 3.38%, compared with 1.57% for IVE.

IVE is categorized as Large Cap Value Equities, while IEFA is Foreign Large Cap Equities. IVE tracks S&P 500 Value Index, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 0.18% for IVE and 0.07% for IEFA.

IVE currently has the higher Sharpe Ratio (2.15 vs 1.58), 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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