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IWB vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWB vs. IEFA

Last updated Jun 9, 2026

IWB (iShares Russell 1000 ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - IWB is a Large Cap Blend Equities fund tracking the Russell 1000 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, IWB returned 14.97%/yr vs 9.37%/yr for IEFA. A 0.79 correlation means they provide meaningful diversification when combined. IWB charges 0.15%/yr vs 0.07%/yr for IEFA.

Performance

IWB vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 ETF (IWB) 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, IWB achieves a 8.46% return, which is significantly higher than IEFA's 7.49% return. Over the past 10 years, IWB has outperformed IEFA with an annualized return of 14.97%, while IEFA has yielded a comparatively lower 9.37% annualized return.

IWB

1D
0.26%
1M
0.43%
YTD
8.46%
6M
8.45%
1Y
23.94%
3Y*
21.07%
5Y*
12.59%
10Y*
14.97%

IEFA

1D
0.63%
1M
-1.17%
YTD
7.49%
6M
10.04%
1Y
19.61%
3Y*
16.13%
5Y*
7.82%
10Y*
9.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWB vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWB
iShares Russell 1000 ETF		8.46%17.18%24.32%26.39%-19.19%26.32%20.77%31.06%-4.90%21.52%
IEFA
iShares Core MSCI EAFE ETF		7.49%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between IWB and IEFA is 0.77, 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

0.77

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

0.73

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

0.77

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

0.78

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

0.79

The correlation between IWB and IEFA has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

IWB vs. IEFA - Sectors Allocation Comparison

Sectors
IWB
IEFA

Technology

36.6%
10.8%

Financial Services

11.3%
22.5%

Communication Services

10.4%
4.4%

Consumer Cyclical

10.0%
8.0%

Industrials

8.6%
20.1%

Healthcare

8.6%
9.5%

Consumer Defensive

4.5%
6.6%

Energy

3.3%
3.8%

Utilities

2.5%
3.6%

Real Estate

2.1%
3.0%

Basic Materials

1.9%
7.0%

Technology

IWB
36.6%
IEFA
10.8%

Financial Services

IWB
11.3%
IEFA
22.5%

Communication Services

IWB
10.4%
IEFA
4.4%

Consumer Cyclical

IWB
10.0%
IEFA
8.0%

Industrials

IWB
8.6%
IEFA
20.1%

Healthcare

IWB
8.6%
IEFA
9.5%

Consumer Defensive

IWB
4.5%
IEFA
6.6%

Energy

IWB
3.3%
IEFA
3.8%

Utilities

IWB
2.5%
IEFA
3.6%

Real Estate

IWB
2.1%
IEFA
3.0%

Basic Materials

IWB
1.9%
IEFA
7.0%

Compare stocks, funds, or ETFs

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

iShares Russell 1000 ETF

iShares Core MSCI EAFE ETF

Often compared with IWB:
IWB vs. IWMIWB vs. SPYIWB vs. VONEIWB vs. IWDIWB vs. VOOIWB vs. IWVIWB vs. VTI
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

IWB vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWB
IWB Risk / Return Rank: 6666
Overall Rank
IWB Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IWB Sortino Ratio Rank: 6464
Sortino Ratio Rank
IWB Omega Ratio Rank: 6666
Omega Ratio Rank
IWB Calmar Ratio Rank: 6060
Calmar Ratio Rank
IWB Martin Ratio Rank: 7373
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4040
Overall Rank
IEFA Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4040
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4040
Omega Ratio Rank
IEFA Calmar Ratio Rank: 3838
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4343
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.

IWB vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 ETF (IWB) 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.

IWBIEFADifference
Sharpe ratioReturn per unit of total volatility
1.98
1.30

+0.68

Sortino ratioReturn per unit of downside risk
2.68
1.88

+0.80

Omega ratioGain probability vs. loss probability

1.36

1.24

+0.12

Calmar ratioReturn relative to maximum drawdown

2.71

1.71

+1.00

Martin ratioReturn relative to average drawdown

12.38

6.52

+5.87

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

IWB vs. IEFA - Sharpe Ratio Comparison

The current IWB Sharpe Ratio is 1.98, which is higher than the IEFA Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of IWB 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

IWBIEFADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.98

1.30

+0.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.47

+0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.54

+0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.50

-0.06

Drawdowns

IWB vs. IEFA - Drawdown Comparison

The maximum IWB drawdown since its inception was -55.38%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for IWB and IEFA.

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Drawdown Indicators

IWBIEFADifference

Max Drawdown

Largest peak-to-trough decline

-55.38%

-34.78%

-20.60%

Max Drawdown (1Y)

Largest decline over 1 year

-8.86%

-11.50%

+2.64%

Max Drawdown (3Y)

Largest decline over 3 years

-19.09%

-13.76%

-5.33%

Max Drawdown (5Y)

Largest decline over 5 years

-25.20%

-30.41%

+5.21%

Max Drawdown (10Y)

Largest decline over 10 years

-34.60%

-34.78%

+0.18%

Current Drawdown

Current decline from peak

-2.58%

-2.44%

-0.14%

Average Drawdown

Average peak-to-trough decline

-10.85%

-6.69%

-4.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

3.02%

-1.08%

Volatility

IWB vs. IEFA - Volatility Comparison

The current volatility for iShares Russell 1000 ETF (IWB) is 3.74%, while iShares Core MSCI EAFE ETF (IEFA) has a volatility of 4.54%. This indicates that IWB 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

IWBIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.74%

4.54%

-0.80%

Volatility (6M)

Calculated over the trailing 6-month period

9.37%

12.74%

-3.37%

Volatility (1Y)

Calculated over the trailing 1-year period

12.20%

15.22%

-3.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.14%

16.55%

+0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.16%

17.32%

+0.84%

IWB vs. IEFA - Expense Ratio Comparison

IWB has a 0.15% 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

IWB vs. IEFA - Dividend Comparison

IWB's dividend yield for the trailing twelve months is around 0.93%, less than IEFA's 3.30% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.30%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
IWB
iShares Russell 1000 ETF		0.93%1.00%1.14%1.31%1.56%1.09%1.37%1.71%2.06%1.64%1.89%1.95%

Frequently Asked Questions

IWB and IEFA have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA has higher volatility (4.54%) compared to IWB (3.74%). In terms of maximum drawdown, IWB dropped -55.38% vs IEFA's -34.78%.

On 10-year performance, IWB leads with 14.97% vs 9.37% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IWB has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWB has performed better with a 14.97% return vs 9.37%. 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 0.15% for IWB.

IEFA has the higher dividend yield at 3.30%, compared with 0.93% for IWB.

IWB is categorized as Large Cap Blend Equities, while IEFA is Foreign Large Cap Equities. IWB tracks Russell 1000 Index, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 0.15% for IWB and 0.07% for IEFA.

IWB currently has the higher Sharpe Ratio (1.98 vs 1.30), 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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