IYE vs. EFRA

Last updated Jun 5, 2026

IYE (iShares U.S. Energy ETF) and EFRA (iShares Environmental Infrastructure and Industrials ETF) are both exchange-traded funds - IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas Index, while EFRA is a Industrials Equities fund tracking the FTSE Green Revenues Select Infrastructure and Industrials Index. Both are passively managed. Over the past 3 years, IYE returned 17.38%/yr vs 11.43%/yr for EFRA. At a 0.32 correlation, their price movements are largely independent. IYE charges 0.42%/yr vs 0.47%/yr for EFRA.

Performance

IYE vs. EFRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Energy ETF (IYE) and iShares Environmental Infrastructure and Industrials ETF (EFRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYE achieves a 31.95% return, which is significantly higher than EFRA's 5.15% return.

IYE

• 1D: 0.03%
• 1M: -1.09%
• YTD: 31.95%
• 6M: 28.91%
• 1Y: 46.86%
• 3Y*: 17.38%
• 5Y*: 19.52%
• 10Y*: 8.76%

EFRA

• 1D: 0.18%
• 1M: -1.72%
• YTD: 5.15%
• 6M: 5.41%
• 1Y: 10.77%
• 3Y*: 11.43%
• 5Y*: —
• 10Y*: —

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

IYE vs. EFRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IYE iShares U.S. Energy ETF	31.95%	7.33%	6.06%	-2.21%	-3.50%
EFRA iShares Environmental Infrastructure and Industrials ETF	5.15%	13.76%	8.09%	14.49%	7.48%

Correlation

The correlation between IYE and EFRA is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Nov 4, 2022	0.32

Over the past year, the correlation between IYE and EFRA has dropped to 0.02 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.

IYE vs. EFRA - Sectors Allocation Comparison

Sectors	IYE	EFRA
Energy	98.9%	-
Technology	1.1%	2.7%
Basic Materials	-	4.4%
Communication Services	-	-
Consumer Cyclical	-	6.3%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	61.8%
Real Estate	-	-
Utilities	-	24.1%

Return for Risk

IYE vs. EFRA — Risk / Return Rank

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

IYE

IYE Risk / Return Rank: 69
IYE Sharpe Ratio Rank: 73
IYE Sortino Ratio Rank: 67
IYE Omega Ratio Rank: 64
IYE Calmar Ratio Rank: 78
IYE Martin Ratio Rank: 65

EFRA

EFRA Risk / Return Rank: 22
EFRA Sharpe Ratio Rank: 23
EFRA Sortino Ratio Rank: 23
EFRA Omega Ratio Rank: 22
EFRA Calmar Ratio Rank: 22
EFRA Martin Ratio Rank: 23

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.

IYE vs. EFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Energy ETF (IYE) and iShares Environmental Infrastructure and Industrials ETF (EFRA). 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.

	IYE	EFRA	Difference
Sharpe ratio: Return per unit of total volatility	2.37	0.77	+1.60
Sortino ratio: Return per unit of downside risk	3.03	1.19	+1.84
Omega ratio: Gain probability vs. loss probability	1.38	1.14	+0.24
Calmar ratio: Return relative to maximum drawdown	3.95	0.97	+2.99
Martin ratio: Return relative to average drawdown	11.64	2.78	+8.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYE vs. EFRA - Sharpe Ratio Comparison

The current IYE Sharpe Ratio is 2.37, which is higher than the EFRA Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of IYE and EFRA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IYE	EFRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	0.77	+1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.90	-0.64

Drawdowns

IYE vs. EFRA - Drawdown Comparison

The maximum IYE drawdown since its inception was -73.74%, which is greater than EFRA's maximum drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for IYE and EFRA.

Drawdown Indicators

	IYE	EFRA	Difference
Max Drawdown Largest peak-to-trough decline	-73.74%	-16.25%	-57.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-11.20%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-20.37%	-16.25%	-4.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-68.59%	—	—
Current Drawdown Current decline from peak	-5.74%	-6.82%	+1.08%
Average Drawdown Average peak-to-trough decline	-19.36%	-3.63%	-15.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	3.87%	+0.17%

Volatility

IYE vs. EFRA - Volatility Comparison

iShares U.S. Energy ETF (IYE) has a higher volatility of 7.92% compared to iShares Environmental Infrastructure and Industrials ETF (EFRA) at 4.23%. This indicates that IYE's price experiences larger fluctuations and is considered to be riskier than EFRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYE	EFRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	4.23%	+3.69%
Volatility (6M) Calculated over the trailing 6-month period	16.06%	11.21%	+4.85%
Volatility (1Y) Calculated over the trailing 1-year period	19.96%	14.01%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.71%	15.51%	+10.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.51%	15.51%	+14.00%

IYE vs. EFRA - Expense Ratio Comparison

IYE has a 0.42% expense ratio, which is lower than EFRA's 0.47% expense ratio.

Dividends

IYE vs. EFRA - Dividend Comparison

IYE's dividend yield for the trailing twelve months is around 2.13%, less than EFRA's 4.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFRA iShares Environmental Infrastructure and Industrials ETF	4.12%	4.34%	3.79%	1.85%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IYE iShares U.S. Energy ETF	2.13%	2.85%	2.75%	2.99%	3.37%	2.98%	4.75%	6.60%	3.16%	2.66%	2.11%	3.39%

Frequently Asked Questions

Can I hold both IYE and EFRA in my portfolio?

IYE and EFRA have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYE or EFRA?

IYE has higher volatility (7.92%) compared to EFRA (4.23%). In terms of maximum drawdown, IYE dropped -73.74% vs EFRA's -16.25%.

Which ETF is better, IYE or EFRA?

On 3-year performance, IYE leads with 17.38% vs 11.43% for EFRA. On fees, IYE is cheaper at 0.42% per year. On volatility, EFRA has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYE or EFRA?

Over the 3-year period, IYE has performed better with a 17.38% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYE or EFRA?

IYE is cheaper with a 0.42% expense ratio, compared with 0.47% for EFRA.

Which ETF pays a higher dividend yield, IYE or EFRA?

EFRA has the higher dividend yield at 4.12%, compared with 2.13% for IYE.

What is the main difference between IYE and EFRA?

IYE is categorized as Energy Equities, while EFRA is Industrials Equities. IYE tracks Dow Jones U.S. Oil & Gas Index, while EFRA tracks FTSE Green Revenues Select Infrastructure and Industrials Index. Their fees differ too: 0.42% for IYE and 0.47% for EFRA.

Which has better risk-adjusted returns?

IYE currently has the higher Sharpe Ratio (2.37 vs 0.77), 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.