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MFDX vs. EFAV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MFDX vs. EFAV

Last updated Aug 2, 2026
Documentation

MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) and EFAV (iShares MSCI EAFE Min Vol Factor ETF) are both Foreign Large Cap Equities funds - MFDX tracks the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index while EFAV tracks the MSCI EAFE Minimum Volatility (USD) Index. Both are passively managed. Over the past 5 years, MFDX returned 10.45%/yr vs 6.86%/yr for EFAV. Their correlation of 0.88 means they have usually moved in the same direction. MFDX charges 0.39%/yr vs 0.20%/yr for EFAV.

Performance

MFDX vs. EFAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and iShares MSCI EAFE Min Vol Factor ETF (EFAV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with MFDX having a 10.18% return and EFAV slightly lower at 9.79%.

MFDX

1D
-0.43%
1M
0.37%
6M
4.44%
YTD
10.18%
1Y
22.36%
3Y*
17.13%
5Y*
10.45%
10Y*
—
ALL TIME*
8.77%

EFAV

1D
-1.09%
1M
4.40%
6M
6.21%
YTD
9.79%
1Y
16.01%
3Y*
14.35%
5Y*
6.86%
10Y*
6.38%
ALL TIME*
7.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EFAV

iShares MSCI EAFE Min Vol Factor ETF
$54.17M$49.40M$45.31M

MFDX

PIMCO RAFI Dynamic Multi-Factor International Equity ETF
$1.14M$830.75K$740.34K

MFDX vs. EFAV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MFDX
PIMCO RAFI Dynamic Multi-Factor International Equity ETF		10.18%34.27%4.40%17.54%-10.27%11.07%6.90%19.88%-14.88%7.07%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		9.79%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%3.94%

Correlation

The correlation between MFDX and EFAV is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.75

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.87

Correlation (All Time)
Calculated using the full available price history since Sep 6, 2017

0.88

The correlation between MFDX and EFAV shifts across timeframes, from 0.75 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

MFDX vs. EFAV - Sectors Allocation Comparison

Sectors
MFDX
EFAV

Industrials

19.0%
15.7%

Financial Services

15.3%
19.7%

Technology

10.6%
4.4%

Basic Materials

10.2%
1.6%

Consumer Defensive

8.6%
12.6%

Consumer Cyclical

8.0%
5.1%

Healthcare

6.9%
12.2%

Energy

6.4%
7.7%

Communication Services

6.3%
9.1%

Utilities

6.3%
9.0%

Real Estate

2.3%
2.9%

Industrials

MFDX
19.0%
EFAV
15.7%

Financial Services

MFDX
15.3%
EFAV
19.7%

Technology

MFDX
10.6%
EFAV
4.4%

Basic Materials

MFDX
10.2%
EFAV
1.6%

Consumer Defensive

MFDX
8.6%
EFAV
12.6%

Consumer Cyclical

MFDX
8.0%
EFAV
5.1%

Healthcare

MFDX
6.9%
EFAV
12.2%

Energy

MFDX
6.4%
EFAV
7.7%

Communication Services

MFDX
6.3%
EFAV
9.1%

Utilities

MFDX
6.3%
EFAV
9.0%

Real Estate

MFDX
2.3%
EFAV
2.9%

Compare stocks, funds, or ETFs

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

PIMCO RAFI Dynamic Multi-Factor International Equity ETF

iShares MSCI EAFE Min Vol Factor ETF

Often compared with MFDX:
MFDX vs. QVMLMFDX vs. HWWA.LMFDX vs. IGROMFDX vs. AVLVMFDX vs. FNDFMFDX vs. VXUSMFDX vs. AVDV
Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV

Return for Risk

MFDX vs. EFAV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MFDX
MFDX Risk / Return Rank: 6767
Overall Rank
MFDX Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
MFDX Sortino Ratio Rank: 6969
Sortino Ratio Rank
MFDX Omega Ratio Rank: 6969
Omega Ratio Rank
MFDX Calmar Ratio Rank: 6161
Calmar Ratio Rank
MFDX Martin Ratio Rank: 6767
Martin Ratio Rank
EFAV
EFAV Risk / Return Rank: 6969
Overall Rank
EFAV Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 7373
Sortino Ratio Rank
EFAV Omega Ratio Rank: 7373
Omega Ratio Rank
EFAV Calmar Ratio Rank: 7575
Calmar Ratio Rank
EFAV Martin Ratio Rank: 5252
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MFDX vs. EFAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and iShares MSCI EAFE Min Vol Factor 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

MFDXEFAVDifference
Sharpe ratioReturn per unit of total volatility
1.59
1.64

-0.06

Sortino ratioReturn per unit of downside risk
2.25
2.35

-0.10

Omega ratioGain probability vs. loss probability

1.29

1.30

-0.01

Calmar ratioReturn relative to maximum drawdown

2.15

2.62

-0.48

Martin ratioReturn relative to average drawdown

8.19

6.10

+2.09

MFDX vs. EFAV - Sharpe Ratio Comparison

The current MFDX Sharpe Ratio is 1.59, which is comparable to the EFAV Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of MFDX and EFAV, 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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Drawdowns

MFDX vs. EFAV - Drawdown Comparison

The maximum MFDX drawdown since its inception was -36.05%, which is greater than EFAV's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for MFDX and EFAV.

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Drawdown Indicators

MFDXEFAVDifference

Max Drawdown

Largest peak-to-trough decline

-36.05%

-27.56%

-8.49%

Max Drawdown (1Y)

Largest decline over 1 year

-10.66%

-6.66%

-4.00%

Max Drawdown (3Y)

Largest decline over 3 years

-11.62%

-8.65%

-2.97%

Max Drawdown (5Y)

Largest decline over 5 years

-25.58%

-27.46%

+1.88%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.56%

—

Current Drawdown

Current decline from peak

-1.44%

-1.09%

-0.35%

Average Drawdown

Average peak-to-trough decline

-6.42%

-4.76%

-1.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.79%

2.86%

-0.07%

Volatility

MFDX vs. EFAV - Volatility Comparison

PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a higher volatility of 4.45% compared to iShares MSCI EAFE Min Vol Factor ETF (EFAV) at 3.28%. This indicates that MFDX's price experiences larger fluctuations and is considered to be riskier than EFAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MFDXEFAVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.45%

3.28%

+1.17%

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

8.85%

+3.63%

Volatility (1Y)

Calculated over the trailing 1-year period

14.44%

10.67%

+3.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.10%

11.88%

+3.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.40%

13.03%

+3.37%

MFDX vs. EFAV - Expense Ratio Comparison

MFDX has a 0.39% expense ratio, which is higher than EFAV's 0.20% expense ratio.

Dividends

MFDX vs. EFAV - Dividend Comparison

MFDX's dividend yield for the trailing twelve months is around 2.91%, less than EFAV's 3.07% yield.

PositionTTM20252024202320222021202020192018201720162015
EFAV
iShares MSCI EAFE Min Vol Factor ETF		3.07%3.20%3.24%3.08%2.53%2.47%1.33%4.19%3.34%2.45%3.94%2.49%
MFDX
PIMCO RAFI Dynamic Multi-Factor International Equity ETF		2.91%2.97%3.16%3.12%2.85%2.99%1.58%2.88%2.13%0.71%0.00%0.00%

Frequently Asked Questions

MFDX and EFAV have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MFDX has higher volatility (4.45%) compared to EFAV (3.28%). In terms of maximum drawdown, MFDX dropped -36.05% vs EFAV's -27.56%.

On 5-year performance, MFDX leads with 10.45% vs 6.86% for EFAV. On fees, EFAV is cheaper at 0.20% per year. On volatility, EFAV has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, MFDX has performed better with a 10.45% return vs 6.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EFAV is cheaper with a 0.20% expense ratio, compared with 0.39% for MFDX.

EFAV has the higher dividend yield at 3.07%, compared with 2.91% for MFDX.

MFDX tracks RAFI Dynamic Multi-Factor Developed Ex-U.S. Index, while EFAV tracks MSCI EAFE Minimum Volatility (USD) Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.39% for MFDX and 0.20% for EFAV.

EFAV currently has the higher Sharpe Ratio (1.64 vs 1.59), 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.

Portfolio Optimizer

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