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VEA vs. EFV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEA vs. EFV

Last updated Aug 4, 2026
Documentation

VEA (Vanguard FTSE Developed Markets ETF) and EFV (iShares MSCI EAFE Value ETF) are both Foreign Large Cap Equities funds - VEA tracks the FTSE Developed All Cap ex US Index while EFV tracks the MSCI EAFE Value Index (Net). Both are passively managed. Over the past 10 years, VEA returned 10.06%/yr vs 10.51%/yr for EFV. Their 0.96 correlation means they have historically moved very closely together. VEA charges 0.03%/yr vs 0.31%/yr for EFV.

Performance

VEA vs. EFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Developed Markets ETF (VEA) and iShares MSCI EAFE Value ETF (EFV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEA achieves a 14.51% return, which is significantly lower than EFV's 16.57% return. Both investments have delivered pretty close results over the past 10 years, with VEA having a 10.06% annualized return and EFV not far ahead at 10.51%.

VEA

1D
0.59%
1M
0.32%
6M
7.64%
YTD
14.51%
1Y
30.48%
3Y*
19.09%
5Y*
9.69%
10Y*
10.06%
ALL TIME*
5.16%

EFV

1D
0.26%
1M
4.16%
6M
9.61%
YTD
16.57%
1Y
34.58%
3Y*
23.11%
5Y*
14.34%
10Y*
10.51%
ALL TIME*
6.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EFV

iShares MSCI EAFE Value ETF
$246.44M$344.02M$395.70M

VEA

Vanguard FTSE Developed Markets ETF
$651.74M$763.09M$794.89M

VEA vs. EFV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEA
Vanguard FTSE Developed Markets ETF		14.51%35.16%3.15%17.93%-15.34%11.66%9.71%22.62%-14.75%26.42%
EFV
iShares MSCI EAFE Value ETF		16.57%42.22%5.35%18.85%-5.22%11.08%-2.97%15.80%-14.67%21.22%

Correlation

The correlation between VEA and EFV is 0.89, meaning they have usually moved in the same direction, including during past declines.

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

0.89

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

0.93

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

0.94

Correlation (10Y)
Provides a long-term view across more market conditions.

0.95

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2007

0.96

The correlation between VEA and EFV has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

VEA vs. EFV - Sectors Allocation Comparison

Sectors
VEA
EFV

Financial Services

23.1%
38.8%

Technology

18.4%
3.1%

Industrials

17.9%
10.0%

Healthcare

7.9%
7.6%

Consumer Cyclical

7.3%
5.6%

Basic Materials

6.9%
6.0%

Consumer Defensive

5.3%
9.8%

Energy

4.5%
6.2%

Communication Services

3.2%
4.1%

Utilities

3.1%
6.1%

Real Estate

2.5%
2.7%

Financial Services

VEA
23.1%
EFV
38.8%

Technology

VEA
18.4%
EFV
3.1%

Industrials

VEA
17.9%
EFV
10.0%

Healthcare

VEA
7.9%
EFV
7.6%

Consumer Cyclical

VEA
7.3%
EFV
5.6%

Basic Materials

VEA
6.9%
EFV
6.0%

Consumer Defensive

VEA
5.3%
EFV
9.8%

Energy

VEA
4.5%
EFV
6.2%

Communication Services

VEA
3.2%
EFV
4.1%

Utilities

VEA
3.1%
EFV
6.1%

Real Estate

VEA
2.5%
EFV
2.7%

Compare stocks, funds, or ETFs

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

Vanguard FTSE Developed Markets ETF

iShares MSCI EAFE Value ETF

Often compared with VEA:
VEA vs. VXUSVEA vs. VWOVEA vs. VOOVEA vs. SCHFVEA vs. VEUVEA vs. IEFAVEA vs. VTI
Often compared with EFV:
EFV vs. EFAVEFV vs. FIVAEFV vs. VOOEFV vs. DFIVXEFV vs. VTRIXEFV vs. SCHFEFV vs. DFIV

Return for Risk

VEA vs. EFV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VEA
VEA Risk / Return Rank: 7676
Overall Rank
VEA Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
VEA Sortino Ratio Rank: 7575
Sortino Ratio Rank
VEA Omega Ratio Rank: 7777
Omega Ratio Rank
VEA Calmar Ratio Rank: 7474
Calmar Ratio Rank
VEA Martin Ratio Rank: 7777
Martin Ratio Rank
EFV
EFV Risk / Return Rank: 8888
Overall Rank
EFV Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
EFV Sortino Ratio Rank: 9191
Sortino Ratio Rank
EFV Omega Ratio Rank: 9191
Omega Ratio Rank
EFV Calmar Ratio Rank: 8484
Calmar Ratio Rank
EFV Martin Ratio Rank: 8484
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.

VEA vs. EFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) and iShares MSCI EAFE Value ETF (EFV). 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.

VEAEFVDifference
Sharpe ratioReturn per unit of total volatility
1.78
2.42

-0.64

Sortino ratioReturn per unit of downside risk
2.45
3.32

-0.87

Omega ratioGain probability vs. loss probability

1.32

1.43

-0.11

Calmar ratioReturn relative to maximum drawdown

2.63

3.19

-0.56

Martin ratioReturn relative to average drawdown

9.84

11.90

-2.07

VEA vs. EFV - Sharpe Ratio Comparison

The current VEA Sharpe Ratio is 1.78, which is comparable to the EFV Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of VEA and EFV, 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

VEA vs. EFV - Drawdown Comparison

The maximum VEA drawdown since its inception was -60.68%, smaller than the maximum EFV drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for VEA and EFV.

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Drawdown Indicators

VEAEFVDifference

Max Drawdown

Largest peak-to-trough decline

-60.68%

-63.94%

+3.26%

Max Drawdown (1Y)

Largest decline over 1 year

-11.63%

-10.90%

-0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-13.72%

+0.27%

Max Drawdown (5Y)

Largest decline over 5 years

-29.71%

-25.84%

-3.87%

Max Drawdown (10Y)

Largest decline over 10 years

-35.73%

-43.16%

+7.43%

Current Drawdown

Current decline from peak

-1.86%

-0.27%

-1.59%

Average Drawdown

Average peak-to-trough decline

-13.20%

-14.72%

+1.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

2.91%

+0.20%

Volatility

VEA vs. EFV - Volatility Comparison

Vanguard FTSE Developed Markets ETF (VEA) has a higher volatility of 5.40% compared to iShares MSCI EAFE Value ETF (EFV) at 3.85%. This indicates that VEA's price experiences larger fluctuations and is considered to be riskier than EFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEAEFVDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.40%

3.85%

+1.55%

Volatility (6M)

Calculated over the trailing 6-month period

15.35%

12.21%

+3.14%

Volatility (1Y)

Calculated over the trailing 1-year period

17.26%

14.39%

+2.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.85%

15.95%

+0.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.22%

17.46%

-0.24%

VEA vs. EFV - Expense Ratio Comparison

VEA has a 0.03% expense ratio, which is lower than EFV's 0.31% expense ratio.

Dividends

VEA vs. EFV - Dividend Comparison

VEA's dividend yield for the trailing twelve months is around 2.55%, less than EFV's 4.51% yield.

PositionTTM20252024202320222021202020192018201720162015
EFV
iShares MSCI EAFE Value ETF		4.51%4.16%4.66%4.36%4.17%4.07%2.42%4.62%4.56%3.56%3.28%3.59%
VEA
Vanguard FTSE Developed Markets ETF		2.55%3.22%3.35%3.15%2.91%3.16%2.04%3.04%3.35%2.77%3.05%2.92%

Frequently Asked Questions

VEA and EFV have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEA has higher volatility (5.40%) compared to EFV (3.85%). In terms of maximum drawdown, VEA dropped -60.68% vs EFV's -63.94%.

On 10-year performance, EFV leads with 10.51% vs 10.06% for VEA. On fees, VEA is cheaper at 0.03% per year. On volatility, EFV has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EFV has performed better with a 10.51% return vs 10.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VEA is cheaper with a 0.03% expense ratio, compared with 0.31% for EFV.

EFV has the higher dividend yield at 4.51%, compared with 2.55% for VEA.

VEA tracks FTSE Developed All Cap ex US Index, while EFV tracks MSCI EAFE Value Index (Net). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VEA and 0.31% for EFV.

EFV currently has the higher Sharpe Ratio (2.42 vs 1.78), 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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