QEFA vs. SCHF

Last updated Jun 3, 2026

QEFA (SPDR MSCI EAFE StrategicFactors ETF) and SCHF (Schwab International Equity ETF) are both Foreign Large Cap Equities funds - QEFA tracks the MSCI EAFE Factor Mix A-Series (USD) while SCHF tracks the FTSE Developed ex U.S. Index. Both are passively managed. Over the past 10 years, QEFA returned 8.72%/yr vs 10.37%/yr for SCHF. Their correlation of 0.86 suggests significant overlap in exposure. QEFA charges 0.30%/yr vs 0.06%/yr for SCHF.

Performance

QEFA vs. SCHF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI EAFE StrategicFactors ETF (QEFA) and Schwab International Equity ETF (SCHF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QEFA achieves a 7.32% return, which is significantly lower than SCHF's 16.56% return. Over the past 10 years, QEFA has underperformed SCHF with an annualized return of 8.72%, while SCHF has yielded a comparatively higher 10.37% annualized return.

QEFA

• 1D: 0.10%
• 1M: 0.92%
• YTD: 7.32%
• 6M: 9.90%
• 1Y: 16.78%
• 3Y*: 14.95%
• 5Y*: 7.93%
• 10Y*: 8.72%

SCHF

• 1D: 0.54%
• 1M: 5.58%
• YTD: 16.56%
• 6M: 20.34%
• 1Y: 32.90%
• 3Y*: 20.25%
• 5Y*: 10.24%
• 10Y*: 10.37%

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

QEFA vs. SCHF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QEFA SPDR MSCI EAFE StrategicFactors ETF	7.32%	29.25%	2.27%	17.40%	-14.03%	12.50%	6.76%	21.91%	-10.39%	24.03%
SCHF Schwab International Equity ETF	16.56%	34.55%	3.28%	18.35%	-14.80%	11.40%	9.48%	22.26%	-14.29%	26.03%

Correlation

The correlation between QEFA and SCHF 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 (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.86

The correlation between QEFA and SCHF shifts across timeframes, from 0.86 (all time) to 0.97 (5 years), reflecting how their relationship changes across market environments.

QEFA vs. SCHF - Sectors Allocation Comparison

Sectors	QEFA	SCHF
Financial Services	14.3%	20.6%
Healthcare	11.6%	6.5%
Technology	10.1%	15.7%
Industrials	8.7%	11.5%
Consumer Cyclical	5.7%	5.7%
Energy	5.1%	5.0%
Basic Materials	4.9%	6.5%
Consumer Defensive	4.2%	4.9%
Communication Services	3.3%	2.3%
Utilities	2.7%	1.7%
Real Estate	1.8%	1.7%

Return for Risk

QEFA vs. SCHF — Risk / Return Rank

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

QEFA

QEFA Risk / Return Rank: 37
QEFA Sharpe Ratio Rank: 36
QEFA Sortino Ratio Rank: 35
QEFA Omega Ratio Rank: 35
QEFA Calmar Ratio Rank: 37
QEFA Martin Ratio Rank: 42

SCHF

SCHF Risk / Return Rank: 62
SCHF Sharpe Ratio Rank: 62
SCHF Sortino Ratio Rank: 61
SCHF Omega Ratio Rank: 61
SCHF Calmar Ratio Rank: 60
SCHF Martin Ratio Rank: 64

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.

QEFA vs. SCHF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EAFE StrategicFactors ETF (QEFA) and Schwab International Equity ETF (SCHF). 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.

	QEFA	SCHF	Difference
Sharpe ratio Return per unit of total volatility	1.32	2.10	-0.78
Sortino ratio Return per unit of downside risk	1.88	2.89	-1.01
Omega ratio Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio Return relative to maximum drawdown	1.88	3.00	-1.13
Martin ratio Return relative to average drawdown	6.79	11.70	-4.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QEFA vs. SCHF - Sharpe Ratio Comparison

The current QEFA Sharpe Ratio is 1.32, which is lower than the SCHF Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of QEFA and SCHF, 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

	QEFA	SCHF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	2.10	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.63	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.61	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.44	-0.01

Drawdowns

QEFA vs. SCHF - Drawdown Comparison

The maximum QEFA drawdown since its inception was -31.71%, smaller than the maximum SCHF drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for QEFA and SCHF.

Drawdown Indicators

	QEFA	SCHF	Difference
Max Drawdown Largest peak-to-trough decline	-31.71%	-34.87%	+3.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-11.48%	+1.90%
Max Drawdown (3Y) Largest decline over 3 years	-12.23%	-13.41%	+1.18%
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	-29.14%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-31.71%	-34.87%	+3.16%
Current Drawdown Current decline from peak	-2.46%	0.00%	-2.46%
Average Drawdown Average peak-to-trough decline	-6.08%	-7.38%	+1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.95%	-0.30%

Volatility

QEFA vs. SCHF - Volatility Comparison

The current volatility for SPDR MSCI EAFE StrategicFactors ETF (QEFA) is 4.12%, while Schwab International Equity ETF (SCHF) has a volatility of 5.73%. This indicates that QEFA experiences smaller price fluctuations and is considered to be less risky than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QEFA	SCHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	5.73%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	13.32%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	15.75%	-2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.77%	16.38%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	17.19%	-1.16%

QEFA vs. SCHF - Expense Ratio Comparison

QEFA has a 0.30% expense ratio, which is higher than SCHF's 0.06% expense ratio.

Dividends

QEFA vs. SCHF - Dividend Comparison

QEFA's dividend yield for the trailing twelve months is around 2.86%, less than SCHF's 2.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QEFA SPDR MSCI EAFE StrategicFactors ETF	2.86%	3.13%	3.17%	2.79%	3.02%	2.37%	1.82%	2.95%	3.22%	2.33%	2.01%	2.94%
SCHF Schwab International Equity ETF	2.93%	3.42%	3.26%	2.97%	2.80%	3.19%	2.08%	2.95%	3.06%	2.35%	2.58%	2.26%

Frequently Asked Questions

Can I hold both QEFA and SCHF in my portfolio?

With a correlation of 0.93, QEFA and SCHF 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, QEFA or SCHF?

SCHF has higher volatility (5.73%) compared to QEFA (4.12%). In terms of maximum drawdown, QEFA dropped -31.71% vs SCHF's -34.87%.

Which ETF is better, QEFA or SCHF?

On 10-year performance, SCHF leads with 10.37% vs 8.72% for QEFA. On fees, SCHF is cheaper at 0.06% per year. On volatility, QEFA has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QEFA or SCHF?

Over the 10-year period, SCHF has performed better with a 10.37% return vs 8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QEFA or SCHF?

SCHF is cheaper with a 0.06% expense ratio, compared with 0.30% for QEFA.

Which ETF pays a higher dividend yield, QEFA or SCHF?

SCHF has the higher dividend yield at 2.93%, compared with 2.86% for QEFA.

What is the main difference between QEFA and SCHF?

QEFA tracks MSCI EAFE Factor Mix A-Series (USD), while SCHF tracks FTSE Developed ex U.S. Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.30% for QEFA and 0.06% for SCHF.

Which has better risk-adjusted returns?

SCHF currently has the higher Sharpe Ratio (2.10 vs 1.32), 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.