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VLUE vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VLUE vs. IEFA

Last updated Jul 26, 2026
Documentation

VLUE (iShares MSCI USA Value Factor ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). Both are passively managed. Over the past 10 years, VLUE returned 14.56%/yr vs 9.38%/yr for IEFA. Their 0.72 correlation means they have sometimes moved together and sometimes differently. VLUE charges 0.15%/yr vs 0.07%/yr for IEFA.

Performance

VLUE vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Value Factor ETF (VLUE) 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, VLUE achieves a 43.48% return, which is significantly higher than IEFA's 9.45% return. Over the past 10 years, VLUE has outperformed IEFA with an annualized return of 14.56%, while IEFA has yielded a comparatively lower 9.38% annualized return.

VLUE

1D
-0.49%
1M
-4.86%
6M
35.25%
YTD
43.48%
1Y
71.63%
3Y*
29.42%
5Y*
16.55%
10Y*
14.56%
ALL TIME*
13.64%

IEFA

1D
0.61%
1M
0.32%
6M
4.92%
YTD
9.45%
1Y
17.75%
3Y*
15.52%
5Y*
8.55%
10Y*
9.38%
ALL TIME*
8.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

IEFA

iShares Core MSCI EAFE ETF
$895.79M$960.37M$950.39M

VLUE

iShares MSCI USA Value Factor ETF
$165.60M$255.80M$278.61M

VLUE vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VLUE
iShares MSCI USA Value Factor ETF		43.48%32.67%7.25%14.26%-14.17%28.93%-0.23%27.20%-11.13%21.95%
IEFA
iShares Core MSCI EAFE ETF		9.45%32.08%3.26%17.95%-15.24%11.63%8.18%22.64%-14.14%26.57%

Correlation

The correlation between VLUE and IEFA is 0.63, 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.

0.63

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

0.67

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

0.72

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

0.73

Correlation (All Time)
Calculated using the full available price history since Apr 18, 2013

0.72

The correlation between VLUE and IEFA shifts across timeframes, from 0.63 (1 year) to 0.73 (10 years), reflecting how their relationship changes across market environments.

VLUE vs. IEFA - Sectors Allocation Comparison

Sectors
VLUE
IEFA

Technology

43.1%
12.1%

Financial Services

10.6%
25.5%

Consumer Cyclical

9.9%
7.3%

Communication Services

8.7%
3.4%

Industrials

7.9%
19.3%

Healthcare

7.8%
10.0%

Consumer Defensive

4.2%
6.5%

Energy

2.8%
3.7%

Utilities

2.0%
3.5%

Real Estate

1.8%
2.2%

Basic Materials

1.2%
6.2%

Technology

VLUE
43.1%
IEFA
12.1%

Financial Services

VLUE
10.6%
IEFA
25.5%

Consumer Cyclical

VLUE
9.9%
IEFA
7.3%

Communication Services

VLUE
8.7%
IEFA
3.4%

Industrials

VLUE
7.9%
IEFA
19.3%

Healthcare

VLUE
7.8%
IEFA
10.0%

Consumer Defensive

VLUE
4.2%
IEFA
6.5%

Energy

VLUE
2.8%
IEFA
3.7%

Utilities

VLUE
2.0%
IEFA
3.5%

Real Estate

VLUE
1.8%
IEFA
2.2%

Basic Materials

VLUE
1.2%
IEFA
6.2%

Compare stocks, funds, or ETFs

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

iShares MSCI USA Value Factor ETF

iShares Core MSCI EAFE ETF

Often compared with VLUE:
VLUE vs. AVLVVLUE vs. VLUVLUE vs. VOOVLUE vs. VTVVLUE vs. IUSVVLUE vs. QVALVLUE vs. SCHV
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

VLUE vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VLUE
VLUE Risk / Return Rank: 9797
Overall Rank
VLUE Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
VLUE Sortino Ratio Rank: 9797
Sortino Ratio Rank
VLUE Omega Ratio Rank: 9696
Omega Ratio Rank
VLUE Calmar Ratio Rank: 9797
Calmar Ratio Rank
VLUE Martin Ratio Rank: 9797
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4747
Overall Rank
IEFA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4747
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4646
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4343
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5151
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.

VLUE vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Value Factor ETF (VLUE) 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.

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.

VLUEIEFADifference
Sharpe ratioReturn per unit of total volatility
3.60
1.14

+2.46

Sortino ratioReturn per unit of downside risk
4.66
1.67

+2.98

Omega ratioGain probability vs. loss probability

1.61

1.21

+0.40

Calmar ratioReturn relative to maximum drawdown

7.98

1.54

+6.44

Martin ratioReturn relative to average drawdown

27.87

5.85

+22.03

VLUE vs. IEFA - Sharpe Ratio Comparison

The current VLUE Sharpe Ratio is 3.60, which is higher than the IEFA Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VLUE 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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Drawdowns

VLUE vs. IEFA - Drawdown Comparison

The maximum VLUE drawdown since its inception was -39.47%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for VLUE and IEFA.

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Drawdown Indicators

VLUEIEFADifference

Max Drawdown

Largest peak-to-trough decline

-39.47%

-34.78%

-4.69%

Max Drawdown (1Y)

Largest decline over 1 year

-9.04%

-11.50%

+2.46%

Max Drawdown (3Y)

Largest decline over 3 years

-17.89%

-13.76%

-4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-27.12%

-30.41%

+3.29%

Max Drawdown (10Y)

Largest decline over 10 years

-39.47%

-34.78%

-4.69%

Current Drawdown

Current decline from peak

-4.86%

-2.00%

-2.86%

Average Drawdown

Average peak-to-trough decline

-5.99%

-6.63%

+0.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.58%

3.02%

-0.44%

Volatility

VLUE vs. IEFA - Volatility Comparison

iShares MSCI USA Value Factor ETF (VLUE) has a higher volatility of 7.20% compared to iShares Core MSCI EAFE ETF (IEFA) at 4.00%. This indicates that VLUE's price experiences larger fluctuations and is considered to be riskier 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

VLUEIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

7.20%

4.00%

+3.20%

Volatility (6M)

Calculated over the trailing 6-month period

17.11%

13.48%

+3.63%

Volatility (1Y)

Calculated over the trailing 1-year period

20.08%

15.55%

+4.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.29%

16.59%

+1.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.00%

17.02%

+2.98%

VLUE vs. IEFA - Expense Ratio Comparison

VLUE has a 0.15% expense ratio, which is higher than IEFA's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VLUE vs. IEFA - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 1.44%, less than IEFA's 3.41% yield.

PositionTTM20252024202320222021202020192018201720162015
IEFA
iShares Core MSCI EAFE ETF		3.41%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%
VLUE
iShares MSCI USA Value Factor ETF		1.44%2.11%2.73%2.66%3.18%2.22%2.42%2.61%2.70%2.14%2.07%2.39%

Frequently Asked Questions

VLUE and IEFA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VLUE has higher volatility (7.20%) compared to IEFA (4.00%). In terms of maximum drawdown, VLUE dropped -39.47% vs IEFA's -34.78%.

On 10-year performance, VLUE leads with 14.56% vs 9.38% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IEFA has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VLUE has performed better with a 14.56% return vs 9.38%. 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 0.15% for VLUE.

IEFA has the higher dividend yield at 3.41%, compared with 1.44% for VLUE.

VLUE is categorized as Large Cap Value Equities, while IEFA is Foreign Large Cap Equities. VLUE tracks MSCI USA Enhanced Value Index, while IEFA tracks MSCI EAFE IMI Index (Net). Their fees differ too: 0.15% for VLUE and 0.07% for IEFA.

VLUE currently has the higher Sharpe Ratio (3.60 vs 1.14), 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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