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SWISX vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SWISX vs. IEFA

Last updated Jun 9, 2026

SWISX (Schwab International Index Fund) and IEFA (iShares Core MSCI EAFE ETF) are both Foreign Large Cap Equities funds - SWISX tracks the MSCI EAFE Index (Net) while IEFA tracks the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 10 years, SWISX returned 8.88%/yr vs 9.37%/yr for IEFA. With a 0.98 correlation, they move nearly in lockstep. SWISX charges 0.06%/yr vs 0.07%/yr for IEFA.

Performance

SWISX vs. IEFA - Performance Comparison

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

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Returns By Period

In the year-to-date period, SWISX achieves a 6.62% return, which is significantly lower than IEFA's 7.49% return. Over the past 10 years, SWISX has underperformed IEFA with an annualized return of 8.88%, while IEFA has yielded a comparatively higher 9.37% annualized return.

SWISX

1D
-2.52%
1M
-1.61%
YTD
6.62%
6M
9.04%
1Y
18.18%
3Y*
15.81%
5Y*
7.96%
10Y*
8.88%

IEFA

1D
0.63%
1M
-1.17%
YTD
7.49%
6M
10.04%
1Y
19.61%
3Y*
16.13%
5Y*
7.82%
10Y*
9.37%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SWISX vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SWISX
Schwab International Index Fund		6.62%31.59%3.54%18.13%-14.30%11.25%8.14%21.87%-13.38%25.32%
IEFA
iShares Core MSCI EAFE ETF		7.49%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between SWISX and IEFA is 0.98 - 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

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2012

0.98

The correlation between SWISX and IEFA has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

SWISX vs. IEFA - Sectors Allocation Comparison

Sectors
SWISX
IEFA

Financial Services

24.4%
22.5%

Industrials

20.3%
20.1%

Technology

10.7%
10.8%

Healthcare

9.2%
9.5%

Consumer Cyclical

7.7%
8.0%

Consumer Defensive

7.0%
6.6%

Basic Materials

6.1%
7.0%

Communication Services

4.6%
4.4%

Energy

4.1%
3.8%

Utilities

4.0%
3.6%

Real Estate

2.0%
3.0%

Financial Services

SWISX
24.4%
IEFA
22.5%

Industrials

SWISX
20.3%
IEFA
20.1%

Technology

SWISX
10.7%
IEFA
10.8%

Healthcare

SWISX
9.2%
IEFA
9.5%

Consumer Cyclical

SWISX
7.7%
IEFA
8.0%

Consumer Defensive

SWISX
7.0%
IEFA
6.6%

Basic Materials

SWISX
6.1%
IEFA
7.0%

Communication Services

SWISX
4.6%
IEFA
4.4%

Energy

SWISX
4.1%
IEFA
3.8%

Utilities

SWISX
4.0%
IEFA
3.6%

Real Estate

SWISX
2.0%
IEFA
3.0%

Compare stocks, funds, or ETFs

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

Schwab International Index Fund

iShares Core MSCI EAFE ETF

Often compared with SWISX:
SWISX vs. SCHFSWISX vs. VXUSSWISX vs. SWTSXSWISX vs. VTIAXSWISX vs. SFNNXSWISX vs. FTIHXSWISX vs. SWPPX
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

SWISX vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SWISX
SWISX Risk / Return Rank: 2222
Overall Rank
SWISX Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
SWISX Sortino Ratio Rank: 2020
Sortino Ratio Rank
SWISX Omega Ratio Rank: 2020
Omega Ratio Rank
SWISX Calmar Ratio Rank: 2323
Calmar Ratio Rank
SWISX Martin Ratio Rank: 2727
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4040
Overall Rank
IEFA Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4040
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4040
Omega Ratio Rank
IEFA Calmar Ratio Rank: 3838
Calmar Ratio Rank
IEFA Martin Ratio Rank: 4343
Martin Ratio Rank
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.

SWISX vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Index Fund (SWISX) and iShares Core MSCI EAFE ETF (IEFA). 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.

SWISXIEFADifference
Sharpe ratioReturn per unit of total volatility
1.22
1.30

-0.08

Sortino ratioReturn per unit of downside risk
1.76
1.88

-0.12

Omega ratioGain probability vs. loss probability

1.22

1.24

-0.02

Calmar ratioReturn relative to maximum drawdown

1.64

1.71

-0.07

Martin ratioReturn relative to average drawdown

6.15

6.52

-0.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWISX vs. IEFA - Sharpe Ratio Comparison

The current SWISX Sharpe Ratio is 1.22, which is comparable to the IEFA Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of SWISX and IEFA, 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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Sharpe Ratios by Period

SWISXIEFADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

1.30

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.47

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.54

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.50

-0.20

Drawdowns

SWISX vs. IEFA - Drawdown Comparison

The maximum SWISX drawdown since its inception was -60.65%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for SWISX and IEFA.

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Drawdown Indicators

SWISXIEFADifference

Max Drawdown

Largest peak-to-trough decline

-60.65%

-34.78%

-25.87%

Max Drawdown (1Y)

Largest decline over 1 year

-11.39%

-11.50%

+0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-13.68%

-13.76%

+0.08%

Max Drawdown (5Y)

Largest decline over 5 years

-29.42%

-30.41%

+0.99%

Max Drawdown (10Y)

Largest decline over 10 years

-33.83%

-34.78%

+0.95%

Current Drawdown

Current decline from peak

-3.13%

-2.44%

-0.69%

Average Drawdown

Average peak-to-trough decline

-14.81%

-6.69%

-8.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.04%

3.02%

+0.02%

Volatility

SWISX vs. IEFA - Volatility Comparison

Schwab International Index Fund (SWISX) and iShares Core MSCI EAFE ETF (IEFA) have volatilities of 4.52% and 4.54%, 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.

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Volatility by Period

SWISXIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.52%

4.54%

-0.02%

Volatility (6M)

Calculated over the trailing 6-month period

12.65%

12.74%

-0.09%

Volatility (1Y)

Calculated over the trailing 1-year period

15.38%

15.22%

+0.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.32%

16.55%

-0.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.89%

17.32%

-0.43%

SWISX vs. IEFA - Expense Ratio Comparison

SWISX has a 0.06% expense ratio, which is lower than IEFA's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SWISX vs. IEFA - Dividend Comparison

SWISX's dividend yield for the trailing twelve months is around 3.33%, which matches IEFA's 3.30% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.30%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
SWISX
Schwab International Index Fund		3.33%3.55%3.29%3.31%2.73%3.34%1.88%3.09%3.15%2.71%3.19%2.71%

Frequently Asked Questions

With a correlation of 0.98, SWISX and IEFA 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.

IEFA has higher volatility (4.54%) compared to SWISX (4.52%). In terms of maximum drawdown, SWISX dropped -60.65% vs IEFA's -34.78%.

IEFA currently has the higher Sharpe Ratio (1.30 vs 1.22), 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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