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USDX vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USDX vs. IEFA

Last updated Jun 9, 2026

USDX (SGI Enhanced Core ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). USDX is actively managed, while IEFA is passively managed. Over the past year, USDX returned 6.51% vs 19.61% for IEFA. At a 0.00 correlation, their price movements are largely independent. USDX charges 0.98%/yr vs 0.07%/yr for IEFA.

Performance

USDX vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI Enhanced Core ETF (USDX) 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, USDX achieves a 2.19% return, which is significantly lower than IEFA's 7.49% return.

USDX

1D
-0.12%
1M
0.43%
YTD
2.19%
6M
2.64%
1Y
6.51%
3Y*
—
5Y*
—
10Y*
—

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)

USDX vs. IEFA - Yearly Performance Comparison

2026 (YTD)20252024
USDX
SGI Enhanced Core ETF		2.19%6.25%6.87%
IEFA
iShares Core MSCI EAFE ETF		7.49%32.08%1.18%

Correlation

The correlation between USDX and IEFA is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.00

Correlation (All Time)
Calculated using the full available price history since Mar 1, 2024

0.00

USDX vs. IEFA - Sectors Allocation Comparison

Sectors
USDX
IEFA

Financial Services

84.7%
22.5%

Basic Materials

-

7.0%

Communication Services

-

4.4%

Consumer Cyclical

-

8.0%

Consumer Defensive

-

6.6%

Energy

-

3.8%

Healthcare

-

9.5%

Industrials

-

20.1%

Real Estate

-

3.0%

Technology

-

10.8%

Utilities

-

3.6%

Financial Services

USDX
84.7%
IEFA
22.5%

Basic Materials

USDX

-

IEFA
7.0%

Communication Services

USDX

-

IEFA
4.4%

Consumer Cyclical

USDX

-

IEFA
8.0%

Consumer Defensive

USDX

-

IEFA
6.6%

Energy

USDX

-

IEFA
3.8%

Healthcare

USDX

-

IEFA
9.5%

Industrials

USDX

-

IEFA
20.1%

Real Estate

USDX

-

IEFA
3.0%

Technology

USDX

-

IEFA
10.8%

Utilities

USDX

-

IEFA
3.6%

Compare stocks, funds, or ETFs

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

SGI Enhanced Core ETF

iShares Core MSCI EAFE ETF

Often compared with USDX:
USDX vs. UUPUSDX vs. USD=XUSDX vs. ARCMUSDX vs. GSSTUSDX vs. EUR=XUSDX vs. USDUUSDX vs. EVLN
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

USDX vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USDX
USDX Risk / Return Rank: 9696
Overall Rank
USDX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
USDX Sortino Ratio Rank: 9696
Sortino Ratio Rank
USDX Omega Ratio Rank: 9797
Omega Ratio Rank
USDX Calmar Ratio Rank: 9595
Calmar Ratio Rank
USDX Martin Ratio Rank: 9797
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.

USDX vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Core ETF (USDX) 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.

USDXIEFADifference
Sharpe ratioReturn per unit of total volatility
3.29
1.30

+1.99

Sortino ratioReturn per unit of downside risk
5.23
1.88

+3.35

Omega ratioGain probability vs. loss probability

1.83

1.24

+0.60

Calmar ratioReturn relative to maximum drawdown

6.97

1.71

+5.26

Martin ratioReturn relative to average drawdown

47.52

6.52

+41.00

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

USDX vs. IEFA - Sharpe Ratio Comparison

The current USDX Sharpe Ratio is 3.29, which is higher than the IEFA Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of USDX 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

USDXIEFADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.29

1.30

+1.99

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.47

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.54

—

Sharpe Ratio (All Time)

Calculated using the full available price history

3.98

0.50

+3.48

Drawdowns

USDX vs. IEFA - Drawdown Comparison

The maximum USDX drawdown since its inception was -0.94%, smaller than the maximum IEFA drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for USDX and IEFA.

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Drawdown Indicators

USDXIEFADifference

Max Drawdown

Largest peak-to-trough decline

-0.94%

-34.78%

+33.84%

Max Drawdown (1Y)

Largest decline over 1 year

-0.94%

-11.50%

+10.56%

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.76%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-30.41%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.78%

—

Current Drawdown

Current decline from peak

-0.25%

-2.44%

+2.19%

Average Drawdown

Average peak-to-trough decline

-0.06%

-6.69%

+6.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.14%

3.02%

-2.88%

Volatility

USDX vs. IEFA - Volatility Comparison

The current volatility for SGI Enhanced Core ETF (USDX) is 1.07%, while iShares Core MSCI EAFE ETF (IEFA) has a volatility of 4.54%. This indicates that USDX experiences smaller price fluctuations and is considered to be less risky than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USDXIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

1.07%

4.54%

-3.47%

Volatility (6M)

Calculated over the trailing 6-month period

1.80%

12.74%

-10.94%

Volatility (1Y)

Calculated over the trailing 1-year period

1.99%

15.22%

-13.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.71%

16.55%

-14.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.71%

17.32%

-15.61%

USDX vs. IEFA - Expense Ratio Comparison

USDX has a 0.98% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

USDX vs. IEFA - Dividend Comparison

USDX's dividend yield for the trailing twelve months is around 5.88%, more than 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%
USDX
SGI Enhanced Core ETF		5.88%5.88%4.60%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

USDX and IEFA have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA has higher volatility (4.54%) compared to USDX (1.07%). In terms of maximum drawdown, USDX dropped -0.94% vs IEFA's -34.78%.

On 1-year performance, IEFA leads with 19.61% vs 6.51% for USDX. On fees, IEFA is cheaper at 0.07% per year. On volatility, USDX has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, IEFA has performed better with a 19.61% return vs 6.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEFA is cheaper with a 0.07% expense ratio, compared with 0.98% for USDX.

USDX has the higher dividend yield at 5.88%, compared with 3.30% for IEFA.

USDX is categorized as Intermediate Core Bond, while IEFA is Foreign Large Cap Equities. They also come from different issuers: Summit Global Investments and iShares. Their fees differ too: 0.98% for USDX and 0.07% for IEFA.

USDX currently has the higher Sharpe Ratio (3.29 vs 1.30), 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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