VNQI vs. EFV
VNQI (Vanguard Global ex-U.S. Real Estate ETF) and EFV (iShares MSCI EAFE Value ETF) are both exchange-traded funds - VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index, while EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index (Net). Both are passively managed. Over the past 10 years, VNQI returned 2.53%/yr vs 10.27%/yr for EFV. Their correlation of 0.81 suggests significant overlap in exposure. VNQI charges 0.12%/yr vs 0.31%/yr for EFV.
Performance
VNQI vs. EFV - Performance Comparison
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Returns By Period
In the year-to-date period, VNQI achieves a -2.07% return, which is significantly lower than EFV's 10.38% return. Over the past 10 years, VNQI has underperformed EFV with an annualized return of 2.53%, while EFV has yielded a comparatively higher 10.27% annualized return.
VNQI
- 1D
- -1.77%
- 1M
- -2.09%
- YTD
- -2.07%
- 6M
- -0.50%
- 1Y
- 4.96%
- 3Y*
- 7.58%
- 5Y*
- -1.19%
- 10Y*
- 2.53%
EFV
- 1D
- -0.81%
- 1M
- 0.81%
- YTD
- 10.38%
- 6M
- 12.23%
- 1Y
- 30.17%
- 3Y*
- 21.13%
- 5Y*
- 13.24%
- 10Y*
- 10.27%
VNQI vs. EFV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQI Vanguard Global ex-U.S. Real Estate ETF | -2.07% | 21.38% | -2.22% | 6.99% | -22.94% | 5.93% | -7.22% | 21.59% | -9.44% | 26.91% |
EFV iShares MSCI EAFE Value ETF | 10.38% | 42.22% | 5.35% | 18.85% | -5.22% | 11.08% | -2.97% | 15.80% | -14.67% | 21.22% |
Correlation
The correlation between VNQI and EFV is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2010 | 0.81 |
The correlation between VNQI and EFV has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.
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Return for Risk
VNQI vs. EFV — Risk / Return Rank
VNQI
EFV
VNQI vs. EFV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate ETF (VNQI) 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.
| VNQI | EFV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.38 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 2.78 | -2.44 |
| Martin ratioReturn relative to average drawdown | 0.94 | 10.27 | -9.34 |
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Drawdowns
VNQI vs. EFV - Drawdown Comparison
The maximum VNQI drawdown since its inception was -38.35%, smaller than the maximum EFV drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for VNQI and EFV.
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Drawdown Indicators
| VNQI | EFV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.35% | -63.94% | +25.59% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -10.90% | -3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -13.72% | -2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -34.92% | -25.84% | -9.08% |
Max Drawdown (10Y)Largest decline over 10 years | -38.35% | -43.16% | +4.81% |
Current DrawdownCurrent decline from peak | -11.56% | -1.40% | -10.16% |
Average DrawdownAverage peak-to-trough decline | -10.89% | -14.80% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.94% | +2.37% |
Volatility
VNQI vs. EFV - Volatility Comparison
Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a higher volatility of 4.57% compared to iShares MSCI EAFE Value ETF (EFV) at 4.32%. This indicates that VNQI'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
| VNQI | EFV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 4.32% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 11.89% | 11.96% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.78% | 14.53% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.56% | 16.03% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 17.84% | -1.76% |
VNQI vs. EFV - Expense Ratio Comparison
VNQI has a 0.12% expense ratio, which is lower than EFV's 0.31% expense ratio.
Dividends
VNQI vs. EFV - Dividend Comparison
VNQI's dividend yield for the trailing twelve months is around 4.80%, which matches EFV's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFV iShares MSCI EAFE Value ETF | 4.76% | 4.16% | 4.66% | 4.36% | 4.17% | 4.07% | 2.42% | 4.62% | 4.56% | 3.56% | 3.28% | 3.59% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | 4.80% | 4.70% | 5.16% | 3.74% | 0.57% | 6.48% | 0.93% | 7.58% | 4.62% | 3.86% | 5.18% | 2.86% |
Frequently Asked Questions
VNQI and EFV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNQI has higher volatility (4.57%) compared to EFV (4.32%). In terms of maximum drawdown, VNQI dropped -38.35% vs EFV's -63.94%.
On 10-year performance, EFV leads with 10.27% vs 2.53% for VNQI. On fees, VNQI is cheaper at 0.12% per year. On volatility, EFV has been the lower-risk option at 4.32%. 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 10.27% return vs 2.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQI is cheaper with a 0.12% expense ratio, compared with 0.31% for EFV.
VNQI has the higher dividend yield at 4.80%, compared with 4.76% for EFV.
VNQI is categorized as REIT, while EFV is Foreign Large Cap Equities. VNQI tracks S&P Global ex-U.S. Property Index, while EFV tracks MSCI EAFE Value Index (Net). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.12% for VNQI and 0.31% for EFV.
EFV currently has the higher Sharpe Ratio (2.09 vs 0.36), 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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