MDIIX vs. BTMKX

Last updated Jun 3, 2026

MDIIX (iShares MSCI EAFE International Index Fund) and BTMKX (iShares MSCI EAFE International Index Fund) are both Foreign Large Cap Equities funds from iShares - MDIIX tracks the MSCI EAFE Index (Net) while BTMKX tracks the MSCI EAFE Index. Both are passively managed. Over the past 10 years, MDIIX returned 9.05%/yr vs 9.38%/yr for BTMKX. With a 1.00 correlation, they move nearly in lockstep. MDIIX charges 0.35%/yr vs 0.05%/yr for BTMKX.

Performance

MDIIX vs. BTMKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE International Index Fund (MDIIX) and iShares MSCI EAFE International Index Fund (BTMKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MDIIX having a 9.11% return and BTMKX slightly higher at 9.29%. Both investments have delivered pretty close results over the past 10 years, with MDIIX having a 9.05% annualized return and BTMKX not far ahead at 9.38%.

MDIIX

• 1D: -0.29%
• 1M: 2.60%
• YTD: 9.11%
• 6M: 12.08%
• 1Y: 20.75%
• 3Y*: 16.73%
• 5Y*: 8.42%
• 10Y*: 9.05%

BTMKX

• 1D: -0.28%
• 1M: 2.62%
• YTD: 9.29%
• 6M: 12.25%
• 1Y: 21.09%
• 3Y*: 17.08%
• 5Y*: 8.76%
• 10Y*: 9.38%

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

MDIIX vs. BTMKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDIIX iShares MSCI EAFE International Index Fund	9.11%	31.36%	3.36%	18.04%	-14.33%	10.98%	7.68%	21.55%	-13.62%	24.84%
BTMKX iShares MSCI EAFE International Index Fund	9.29%	31.70%	3.70%	18.37%	-14.04%	11.30%	8.07%	21.96%	-13.38%	25.17%

Correlation

The correlation between MDIIX and BTMKX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Apr 1, 2011	1.00

The correlation between MDIIX and BTMKX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

MDIIX vs. BTMKX — Risk / Return Rank

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

MDIIX

MDIIX Risk / Return Rank: 27
MDIIX Sharpe Ratio Rank: 26
MDIIX Sortino Ratio Rank: 25
MDIIX Omega Ratio Rank: 26
MDIIX Calmar Ratio Rank: 27
MDIIX Martin Ratio Rank: 32

BTMKX

BTMKX Risk / Return Rank: 27
BTMKX Sharpe Ratio Rank: 26
BTMKX Sortino Ratio Rank: 25
BTMKX Omega Ratio Rank: 26
BTMKX Calmar Ratio Rank: 27
BTMKX Martin Ratio Rank: 32

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.

MDIIX vs. BTMKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE International Index Fund (MDIIX) and iShares MSCI EAFE International Index Fund (BTMKX). 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.

	MDIIX	BTMKX	Difference
Sharpe ratio Return per unit of total volatility	1.47	1.49	-0.02
Sortino ratio Return per unit of downside risk	2.11	2.13	-0.03
Omega ratio Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio Return relative to maximum drawdown	1.97	2.01	-0.04
Martin ratio Return relative to average drawdown	7.38	7.54	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDIIX vs. BTMKX - Sharpe Ratio Comparison

The current MDIIX Sharpe Ratio is 1.47, which is comparable to the BTMKX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of MDIIX and BTMKX, 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

	MDIIX	BTMKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	1.49	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.54	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.56	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.39	-0.09

Drawdowns

MDIIX vs. BTMKX - Drawdown Comparison

The maximum MDIIX drawdown since its inception was -61.26%, which is greater than BTMKX's maximum drawdown of -33.92%. Use the drawdown chart below to compare losses from any high point for MDIIX and BTMKX.

Drawdown Indicators

	MDIIX	BTMKX	Difference
Max Drawdown Largest peak-to-trough decline	-61.26%	-33.92%	-27.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.32%	-11.30%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.67%	-13.66%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-29.43%	-29.23%	-0.20%
Max Drawdown (10Y) Largest decline over 10 years	-34.34%	-33.92%	-0.42%
Current Drawdown Current decline from peak	-0.80%	-0.70%	-0.10%
Average Drawdown Average peak-to-trough decline	-15.57%	-7.77%	-7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	3.01%	+0.02%

Volatility

MDIIX vs. BTMKX - Volatility Comparison

iShares MSCI EAFE International Index Fund (MDIIX) and iShares MSCI EAFE International Index Fund (BTMKX) have volatilities of 4.70% and 4.73%, 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.

Volatility by Period

	MDIIX	BTMKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	4.73%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	12.29%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	15.17%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.17%	16.17%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	16.67%	-0.02%

MDIIX vs. BTMKX - Expense Ratio Comparison

MDIIX has a 0.35% expense ratio, which is higher than BTMKX's 0.05% expense ratio.

Dividends

MDIIX vs. BTMKX - Dividend Comparison

MDIIX's dividend yield for the trailing twelve months is around 3.20%, less than BTMKX's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTMKX iShares MSCI EAFE International Index Fund	3.43%	3.74%	3.43%	3.19%	2.80%	3.06%	1.99%	3.34%	4.58%	2.45%	2.85%	2.42%
MDIIX iShares MSCI EAFE International Index Fund	3.20%	3.49%	3.15%	2.94%	2.52%	2.78%	1.72%	3.05%	4.24%	2.21%	2.60%	1.94%

Frequently Asked Questions

Can I hold both MDIIX and BTMKX in my portfolio?

With a correlation of 1.00, MDIIX and BTMKX 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.

Which is riskier, MDIIX or BTMKX?

BTMKX has higher volatility (4.73%) compared to MDIIX (4.70%). In terms of maximum drawdown, MDIIX dropped -61.26% vs BTMKX's -33.92%.

Which has better risk-adjusted returns?

BTMKX currently has the higher Sharpe Ratio (1.49 vs 1.47), 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.