EFA vs IDEV: Which ETF Is Better in 2026?
A metric-by-metric comparison of iShares MSCI EAFE ETF (EFA) and iShares Core MSCI International Developed Markets ETF (IDEV) — both International Developed funds — using ETFValuer's daily-updated rankings.
Educational content — not financial advice. Data as of July 25, 2026. ~5 minute read.
The Verdict
EFA and IDEV are close to the same fund wearing different labels. Both sit in the International Developed category and their daily returns move almost identically, so this is not really a question of which fund is better — it is a question of which one is cheaper to own and easier to trade in your account. Everything below is about finding the small, structural edges, because the investment exposure is a wash.
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — IDEV scores higher: 72.3 (Grade B) versus 68.1 for EFA. That doesn't make EFA a bad fund; it means IDEV currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Head-to-Head: Every Metric
| EFA | IDEV | |
|---|---|---|
| Category | International Developed | International Developed |
| Expense ratio | 0.32% | 0.04% |
| Fund size (AUM) | $77.2B | $30.6B |
| Dividend yield | 1.71% | 3.23% |
| 1-year return | +16.83% | +18.05% |
| 3-year return | +52.59% | +55.61% |
| Volatility | 15.66% | 15.09% |
| Max drawdown | -14.05% | -13.41% |
| Sharpe ratio | 0.76 | 0.87 |
| ETFValuer score | 68.1 | 72.3 |
| Grade | B | B |
| Overall rank | #137 | #76 |
Bold marks the better value in each row. "Better" is directional only (e.g. lower cost, higher return) — it isn't a recommendation by itself. See the full methodology.
Cost
IDEV is the cheaper fund, charging 0.04% a year versus 0.32% for EFA — a gap of 0.28 percentage points (about $28.00/year on a $10,000 position) that compounds meaningfully over a multi-decade holding period. Since these two deliver almost the same exposure, that fee gap is close to the entire difference between them — it comes straight out of your return with nothing offered in exchange. See the ETF Fee Calculator for the exact dollar impact at your investment size and horizon.
What EFA's Fees Cost You
EFA charges an expense ratio of 0.32% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
Performance & Risk
Over the trailing 3 years, IDEV returned +55.61% versus +52.59% for EFA — a gap of about 3.0 percentage points. On risk, IDEV has held up better historically, with a shallower max drawdown (-13.41% vs. -14.05%). IDEV currently has the better risk-adjusted return (Sharpe ratio of 0.87 vs. 0.76), meaning it delivered more return per unit of volatility taken on.
How Closely Do They Track Each Other?
Over the last 3.0 years of daily returns (752 shared trading days), EFA and IDEV show a near-perfect correlation of 0.995 — functionally interchangeable. At this level the two funds are, for practical purposes, the same investment. Owning both adds no diversification whatsoever — the decision should come down entirely to cost, spread and which one your broker handles better.
| Measure | Value | What it means |
|---|---|---|
| Daily return correlation | 0.995 | Near-perfect — functionally interchangeable |
| R-squared | 99.0% | 99.0% of EFA's daily moves are explained by IDEV's |
| Tracking error (annualised) | 1.53% | Typical yearly spread between the two funds' returns |
| Annualised return over 3.0y | EFA +15.55% · IDEV +16.23% | IDEV ahead by 0.68 points a year |
Correlation alone understates how far these can drift. Across every rolling 12-month window in the period, EFA finished as much as +0.7 points ahead of IDEV at the best extreme and -3.8 points at the worst — a 4.4-point spread between the best and worst year of relative performance. Two funds can correlate tightly day to day and still deliver very different outcomes over any single year you happen to hold them.
Calculated from daily total returns over the trailing 3-year window, recomputed every day this site refreshes. Correlation of 1.00 means the two funds moved in lockstep; 0.00 means their daily moves were unrelated.
Holdings Overlap
EFA and IDEV hold 8 of the same companies among their top 10 positions. Those shared names make up 11.4% of EFA and 8.6% of IDEV. That's heavy duplication — owning both largely doubles down on the same companies rather than spreading risk. Most investors should pick one.
| Shared Holding | EFA Weight | IDEV Weight |
|---|---|---|
| ASML Holding N.V. | 2.58% | 1.94% |
| HSBC HOLDINGS PLC | 1.45% | 1.09% |
| ASTRAZENECA PLC | 1.35% | 1.01% |
| Roche Holding AG | 1.32% | 0.99% |
| Novartis AG | 1.29% | 0.97% |
| Nestle S.A. | 1.20% | 0.90% |
| SHELL PLC | 1.19% | 0.90% |
| Siemens Aktiengesellschaft | 1.04% | 0.78% |
Compares the top 10 reported holdings from each fund's most recent SEC N-PORT-P filing, so it understates total overlap — funds tracking similar indexes overlap far more deeply than the top 10 alone can show. Search any company across all tracked funds with the Stock Overlap tool.
Which One Should You Pick?
Lean EFA if…
- You have no strong preference — EFA is a perfectly reasonable default here
Lean IDEV if…
- You want the lower running cost — 0.04% vs 0.32%, about $28 a year less on a $10,000 position
- Current income matters to you — it yields 3.23% against 1.71%
- You care about return per unit of risk — its Sharpe ratio of 0.87 beats 0.76
- You weight recent results heavily — it returned 55.6% over 3 years against 52.6%
Whichever you pick, holding both at full weight is usually the wrong answer — see the overlap and correlation sections above.
Frequently Asked Questions
Is EFA or IDEV better?
On ETFValuer's overall model — which blends return, risk-adjusted performance, cost, drawdown, size and volatility — IDEV scores higher: 72.3 (Grade B) versus 68.1 for EFA. That doesn't make EFA a bad fund; it means IDEV currently edges it out on this specific mix of factors. Read the metric-by-metric breakdown below before deciding which matters more for your own portfolio.
Which has the lower expense ratio, EFA or IDEV?
IDEV currently has the lower expense ratio (0.04% vs. 0.32%).
Can I hold both EFA and IDEV?
You can, but there's little point. EFA and IDEV have a daily return correlation of 1.00 over the past 3.0 years, meaning they move almost in lockstep. Holding both roughly doubles a single bet rather than spreading it — pick whichever wins on cost and liquidity and put the money in one place.
Go deeper on either fund
Full daily-updated metrics, holdings context, and category peers.