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IVLU vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVLU vs. IEFA

Last updated Jun 23, 2026

IVLU (iShares MSCI International Value Factor ETF) and IEFA (iShares Core MSCI EAFE ETF) are both Foreign Large Cap Equities funds from iShares - IVLU tracks the MSCI World ex USA Enhanced Value Index while IEFA tracks the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 10 years, IVLU returned 11.77%/yr vs 10.18%/yr for IEFA. Their correlation of 0.89 suggests significant overlap in exposure. IVLU charges 0.30%/yr vs 0.07%/yr for IEFA.

Performance

IVLU vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI International Value Factor ETF (IVLU) 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, IVLU achieves a 13.41% return, which is significantly higher than IEFA's 10.65% return. Over the past 10 years, IVLU has outperformed IEFA with an annualized return of 11.77%, while IEFA has yielded a comparatively lower 10.18% annualized return.

IVLU

1D
0.57%
1M
1.16%
YTD
13.41%
6M
13.71%
1Y
37.76%
3Y*
24.43%
5Y*
14.98%
10Y*
11.77%

IEFA

1D
0.10%
1M
1.81%
YTD
10.65%
6M
11.01%
1Y
25.52%
3Y*
17.62%
5Y*
8.87%
10Y*
10.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVLU vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVLU
iShares MSCI International Value Factor ETF		13.41%46.09%6.76%20.07%-5.73%15.60%-4.50%15.60%-15.10%23.10%
IEFA
iShares Core MSCI EAFE ETF		10.65%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between IVLU and IEFA is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.94

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

0.94

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

0.94

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

0.93

Correlation (All Time)
Calculated using the full available price history since Jul 15, 2015

0.89

The correlation between IVLU and IEFA has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

IVLU vs. IEFA - Sectors Allocation Comparison

Sectors
IVLU
IEFA

Financial Services

26.5%
22.6%

Industrials

18.8%
20.1%

Technology

10.6%
11.6%

Healthcare

9.0%
9.7%

Consumer Cyclical

7.6%
8.3%

Basic Materials

7.4%
6.8%

Consumer Defensive

6.0%
6.2%

Energy

5.5%
3.6%

Communication Services

3.7%
4.7%

Utilities

3.6%
3.5%

Real Estate

1.4%
2.9%

Financial Services

IVLU
26.5%
IEFA
22.6%

Industrials

IVLU
18.8%
IEFA
20.1%

Technology

IVLU
10.6%
IEFA
11.6%

Healthcare

IVLU
9.0%
IEFA
9.7%

Consumer Cyclical

IVLU
7.6%
IEFA
8.3%

Basic Materials

IVLU
7.4%
IEFA
6.8%

Consumer Defensive

IVLU
6.0%
IEFA
6.2%

Energy

IVLU
5.5%
IEFA
3.6%

Communication Services

IVLU
3.7%
IEFA
4.7%

Utilities

IVLU
3.6%
IEFA
3.5%

Real Estate

IVLU
1.4%
IEFA
2.9%

Compare stocks, funds, or ETFs

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

iShares MSCI International Value Factor ETF

iShares Core MSCI EAFE ETF

Often compared with IVLU:
IVLU vs. DFIVIVLU vs. FIVAIVLU vs. VXUSIVLU vs. IDMOIVLU vs. DISVIVLU vs. SFNNXIVLU vs. INTF
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

IVLU vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVLU
IVLU Risk / Return Rank: 7474
Overall Rank
IVLU Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
IVLU Sortino Ratio Rank: 7878
Sortino Ratio Rank
IVLU Omega Ratio Rank: 7878
Omega Ratio Rank
IVLU Calmar Ratio Rank: 6767
Calmar Ratio Rank
IVLU Martin Ratio Rank: 6969
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4949
Overall Rank
IEFA Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 5050
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4949
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4646
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5151
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.

IVLU vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) 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.

IVLUIEFADifference
Sharpe ratioReturn per unit of total volatility
2.44
1.66

+0.78

Sortino ratioReturn per unit of downside risk
3.32
2.38

+0.94

Omega ratioGain probability vs. loss probability

1.44

1.30

+0.13

Calmar ratioReturn relative to maximum drawdown

3.24

2.23

+1.01

Martin ratioReturn relative to average drawdown

12.32

8.48

+3.84

IVLU vs. IEFA - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.44, which is higher than the IEFA Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of IVLU 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

IVLU vs. IEFA - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for IVLU and IEFA.

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Drawdown Indicators

IVLUIEFADifference

Max Drawdown

Largest peak-to-trough decline

-41.85%

-34.78%

-7.07%

Max Drawdown (1Y)

Largest decline over 1 year

-11.69%

-11.50%

-0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-15.48%

-13.76%

-1.72%

Max Drawdown (5Y)

Largest decline over 5 years

-26.04%

-30.41%

+4.37%

Max Drawdown (10Y)

Largest decline over 10 years

-41.85%

-34.78%

-7.07%

Current Drawdown

Current decline from peak

-0.35%

0.00%

-0.35%

Average Drawdown

Average peak-to-trough decline

-8.56%

-6.67%

-1.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.07%

3.02%

+0.05%

Volatility

IVLU vs. IEFA - Volatility Comparison

iShares MSCI International Value Factor ETF (IVLU) and iShares Core MSCI EAFE ETF (IEFA) have volatilities of 4.90% and 4.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IVLUIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

4.85%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

12.78%

13.07%

-0.29%

Volatility (1Y)

Calculated over the trailing 1-year period

15.55%

15.44%

+0.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.52%

16.59%

-0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.63%

17.27%

+0.36%

IVLU vs. IEFA - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

IVLU vs. IEFA - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.31%, 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%
IVLU
iShares MSCI International Value Factor ETF		3.31%3.71%4.46%4.69%3.59%3.47%2.05%3.53%2.82%2.87%2.53%0.93%

Frequently Asked Questions

With a correlation of 0.94, IVLU and IEFA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IVLU has higher volatility (4.90%) compared to IEFA (4.85%). In terms of maximum drawdown, IVLU dropped -41.85% vs IEFA's -34.78%.

On 10-year performance, IVLU leads with 11.77% vs 10.18% for IEFA. On fees, IEFA is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVLU has performed better with a 11.77% return vs 10.18%. 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 0.30% for IVLU.

IEFA has the higher dividend yield at 3.38%, compared with 3.31% for IVLU.

IVLU tracks MSCI World ex USA Enhanced Value Index, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 0.30% for IVLU and 0.07% for IEFA.

IVLU currently has the higher Sharpe Ratio (2.44 vs 1.66), 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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