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IEFA vs VWO: Performance & Backtest Comparison
IEFA delivered the higher return - 8.43% CAGR vs 5.67% - over 2012-11-30 → 2026-06-30.
Growth comparison
Drawdown
Annual returns
| IEFA | VWO | |
|---|---|---|
| Name | iShares Core MSCI EAFE ETF | Vanguard FTSE Emerging Markets ETF |
| CAGR | 8.43% | 5.67% |
| Total return | 202.23% | 112.56% |
| Volatility | 14.42% | 15.71% |
| Max drawdown | -28.58%Sep 2022 | -31.86%Oct 2022 |
| Sharpe | 0.52 | 0.32 |
| Sortino | 0.79 | 0.51 |
| Best year | 32.08% | 31.48% |
| Worst year | -15.21% | -17.99% |
| Final balance | $30,223 | $21,256 |
Correlation of monthly returns: 0.80. Wondering if you need both? Check their fund overlap →
All figures are total returns: every dividend and distribution is reinvested on its ex-date, and prices are split-adjusted. See the methodology.
Frequently asked questions
Which has performed better, IEFA or VWO?
Over 2012-11-30 to 2026-06-30, IEFA performed better: 8.43% annualized versus 5.67% for VWO, with dividends reinvested. Past performance does not guarantee future results.
How similar are IEFA and VWO?
Their monthly returns have a correlation of 0.80 over the common period. IEFA is iShares Core MSCI EAFE ETF; VWO is Vanguard FTSE Emerging Markets ETF.
Which is riskier, IEFA or VWO?
Over the common period IEFA had 14.42% annualized volatility and a -28.58% max drawdown, versus 15.71% and -31.86% for VWO.