IVSI vs. EFAV

Last updated Jun 5, 2026

IVSI (Applied Finance IVS International Large ETF) and EFAV (iShares Edge MSCI Min Vol EAFE ETF) are both Foreign Large Cap Equities funds. IVSI is actively managed, while EFAV is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. IVSI charges 0.65%/yr vs 0.20%/yr for EFAV.

Performance

IVSI vs. EFAV - Performance Comparison

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

Returns By Period

In the year-to-date period, IVSI achieves a 10.48% return, which is significantly higher than EFAV's 4.42% return.

IVSI

• 1D: 1.18%
• 1M: 3.23%
• YTD: 10.48%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFAV

• 1D: 0.57%
• 1M: -1.23%
• YTD: 4.42%
• 6M: 5.83%
• 1Y: 9.78%
• 3Y*: 13.24%
• 5Y*: 6.29%
• 10Y*: 5.92%

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

IVSI vs. EFAV - Yearly Performance Comparison

	2026 (YTD)	2025
IVSI Applied Finance IVS International Large ETF	10.48%	0.53%
EFAV iShares Edge MSCI Min Vol EAFE ETF	4.42%	1.13%

Correlation

The correlation between IVSI and EFAV is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.84

Return for Risk

IVSI vs. EFAV — Risk / Return Rank

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

EFAV

EFAV Risk / Return Rank: 28
EFAV Sharpe Ratio Rank: 28
EFAV Sortino Ratio Rank: 26
EFAV Omega Ratio Rank: 26
EFAV Calmar Ratio Rank: 32
EFAV Martin Ratio Rank: 30

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.

IVSI vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS International Large ETF (IVSI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IVSI	EFAV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.95	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.41	0.54	+0.87

Drawdowns

IVSI vs. EFAV - Drawdown Comparison

The maximum IVSI drawdown since its inception was -11.73%, smaller than the maximum EFAV drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for IVSI and EFAV.

Drawdown Indicators

	IVSI	EFAV	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-27.56%	+15.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.56%	—
Current Drawdown Current decline from peak	-0.46%	-5.07%	+4.61%
Average Drawdown Average peak-to-trough decline	-2.59%	-4.77%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.32%	—

Volatility

Volatility by Period

	IVSI	EFAV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.79%	10.32%	+7.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.79%	11.79%	+6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.79%	13.21%	+4.58%

IVSI vs. EFAV - Expense Ratio Comparison

IVSI has a 0.65% expense ratio, which is higher than EFAV's 0.20% expense ratio.

Dividends

IVSI vs. EFAV - Dividend Comparison

IVSI's dividend yield for the trailing twelve months is around 0.04%, less than EFAV's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAV iShares Edge MSCI Min Vol EAFE ETF	3.06%	3.20%	3.24%	3.08%	2.53%	2.47%	1.33%	4.19%	3.34%	2.45%	3.94%	2.49%
IVSI Applied Finance IVS International Large ETF	0.04%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVSI and EFAV in my portfolio?

IVSI and EFAV have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSI or EFAV?

On fees, EFAV is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSI or EFAV?

EFAV is cheaper with a 0.20% expense ratio, compared with 0.65% for IVSI.

Which ETF pays a higher dividend yield, IVSI or EFAV?

EFAV has the higher dividend yield at 3.06%, compared with 0.04% for IVSI.

What is the main difference between IVSI and EFAV?

They also come from different issuers: Applied Finance and iShares. Their fees differ too: 0.65% for IVSI and 0.20% for EFAV.