MAIIX vs. EFAA
MAIIX (iShares MSCI EAFE International Index Fund) and EFAA (Invesco MSCI EAFE Income Advantage ETF) are both funds - MAIIX is a Foreign Large Cap Equities fund managed by BlackRock, while EFAA is a Derivative Income fund actively managed by Invesco. Over the past year, MAIIX returned 22.42% vs 18.26% for EFAA. Their correlation of 0.95 suggests significant overlap in exposure. MAIIX charges 0.09%/yr vs 0.39%/yr for EFAA.
Performance
MAIIX vs. EFAA - Performance Comparison
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Returns By Period
In the year-to-date period, MAIIX achieves a 9.66% return, which is significantly higher than EFAA's 5.70% return.
MAIIX
- 1D
- 0.38%
- 1M
- 4.17%
- YTD
- 9.66%
- 6M
- 12.02%
- 1Y
- 22.42%
- 3Y*
- 17.16%
- 5Y*
- 8.87%
- 10Y*
- 9.36%
EFAA
- 1D
- -0.42%
- 1M
- 2.87%
- YTD
- 5.70%
- 6M
- 8.09%
- 1Y
- 18.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MAIIX vs. EFAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MAIIX iShares MSCI EAFE International Index Fund | 9.66% | 31.62% | -4.92% |
EFAA Invesco MSCI EAFE Income Advantage ETF | 5.70% | 25.80% | -3.30% |
Correlation
The correlation between MAIIX and EFAA is 0.93, 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 | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.95 |
The correlation between MAIIX and EFAA has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
MAIIX vs. EFAA — Risk / Return Rank
MAIIX
EFAA
MAIIX vs. EFAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE International Index Fund (MAIIX) and Invesco MSCI EAFE Income Advantage ETF (EFAA). 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.
| MAIIX | EFAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.81 | +0.10 |
| Martin ratioReturn relative to average drawdown | 7.14 | 7.00 | +0.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MAIIX | EFAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.54 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 1.11 | -0.80 |
Drawdowns
MAIIX vs. EFAA - Drawdown Comparison
The maximum MAIIX drawdown since its inception was -61.05%, which is greater than EFAA's maximum drawdown of -11.97%. Use the drawdown chart below to compare losses from any high point for MAIIX and EFAA.
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Drawdown Indicators
| MAIIX | EFAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.05% | -11.97% | -49.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.31% | -10.14% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -13.68% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.01% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | -1.22% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -2.04% | -13.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.61% | +0.41% |
Volatility
MAIIX vs. EFAA - Volatility Comparison
iShares MSCI EAFE International Index Fund (MAIIX) has a higher volatility of 4.72% compared to Invesco MSCI EAFE Income Advantage ETF (EFAA) at 3.54%. This indicates that MAIIX's price experiences larger fluctuations and is considered to be riskier than EFAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAIIX | EFAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 3.54% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 9.72% | +2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 11.96% | +3.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.14% | 12.96% | +3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 12.96% | +3.69% |
MAIIX vs. EFAA - Expense Ratio Comparison
MAIIX has a 0.09% expense ratio, which is lower than EFAA's 0.39% expense ratio.
Dividends
MAIIX vs. EFAA - Dividend Comparison
MAIIX's dividend yield for the trailing twelve months is around 3.38%, less than EFAA's 8.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFAA Invesco MSCI EAFE Income Advantage ETF | 8.13% | 7.94% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MAIIX iShares MSCI EAFE International Index Fund | 3.38% | 3.71% | 3.38% | 3.16% | 2.76% | 3.00% | 1.94% | 3.29% | 4.53% | 2.42% | 2.81% | 2.40% |
Frequently Asked Questions
With a correlation of 0.93, MAIIX and EFAA 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.
MAIIX has higher volatility (4.72%) compared to EFAA (3.54%). In terms of maximum drawdown, MAIIX dropped -61.05% vs EFAA's -11.97%.
EFAA currently has the higher Sharpe Ratio (1.54 vs 1.43), 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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