EFA Fund Description

The iShares MSCI EAFE ETF tracks a market-cap-weighted index of developed-market securities based in Europe, Australia and the Far East. It excludes the US and Canada.

EFA ETF.com Insight

[As of 7/22/14] Venerable EFA provides highly accessible exposure to probably the best-known international equity index: the EAFE. Launched in 2001, the fund has gathered over $50B inin the top 10 among all ETFs in size and liquidity assets and trades hundreds of millions daily, placing it in the top ten among all ETFs in size and liquidity. The fund's basket of stocks represents the market well, with one exception: It ignores Canada. EFA charges a high headline fee: 34 bps annually, while competing funds charge a fraction of this amount. Still, recent tracking data suggests that EFA's actual holding cost is far less than its fees. In all, EFA delivers excellent coverage to international equities with unmatched liquidity. (Insight updated 01/21/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 08/20/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

EFA (Mkt)
-2.02% 0.33% 1.56% 12.35% 13.56% 8.66% 6.8%

EFA (NAV)

-1.67% 0.01% 1.95% 12.35% 13.03% 8.65% 6.9%

MSCI EAFE Index

-1.65% 0.05% 2.01% 12.54% 13.17% 8.79% 7.0%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EFA Top 10 Countries View All

EFA Top 10 Sectors

EFA Top 10 Holdings View All

EFA Summary Data

BlackRock

A company that produces and manages ETFs.

08/14/01

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.34%

The net total annual fee a fund holder pays to the issuer.

$54.71 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$891.16 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.01%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

EFA Portfolio Data

$65.46 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

18.01

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.64

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

3.36%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/17/14

The date on which a security's price excludes an upcoming dividend.

891

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

EFA Index Data

MSCI EAFE Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI World Ex-USA
Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to EFA

VEA, SCHF, GWL, IEFA

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

EFA ETF.com Efficiency Insight

[As of 7/22/14] EFA's 34 bp fees isn't cheap for cap-weighted coverage, some competitors charge a fraction of this. But tracking numbers suggest that investors' actual holding costs are much less than the headline fee. We see minimal variation and a median tracking difference of -10 bps, meaning the fund tends to claw back most of its fee. EFA's asset base is far greater than the combined AUM of all peer funds. (Insight updated 01/21/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 08/20/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

EFA (Mkt)
-2.02% 0.33% 1.56% 12.35% 13.56% 8.66% 6.8%

EFA (NAV)
-1.67% 0.01% 1.95% 12.35% 13.03% 8.65% 6.9%

MSCI EAFE Index
-1.65% 0.05% 2.01% 12.54% 13.17% 8.79% 7.0%

MSCI World Ex-USA Investable Markets
-1.45% 0.98% 3.05% 13.48% 12.68% 9.18% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EFA Portfolio Management

0.34%

The net annual fee a fund holder pays to the issuer.

-0.16%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.10%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.25%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

EFA Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

EFA Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

75% / 25%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

N/A

The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.

N/A

The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.

EFA ETF.com Tradability Insight

[As of 7/22/14] Investors of all sizes can enjoy EFA's phenomenal Tradability: it's one of the most liquid ETFs on the market. The fund trades at pennywide spreads on median volume of about $1B daily. Large trades with the help of a liquidity provider should pose no problem. (Insight updated 01/21/2014)

Average Spread

Premium/Discount

Volume

EFA ETF.com/ Block LiquidityAs of 08/21/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of EFA. EFA is rated a 5 out of 5.

EFA Tradability

13,207,329

The average number of shares traded during a 60 day period.

$891.16 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

12,232,769

Median number of shares traded over the past 45 trading days.

$815.13 M

Median dollar value of shares traded over the past 45 trading days.

0.01%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 60 days, in dollars.

0.21%

The middle value in the ranked set of all premium/discount values over a 12-month period.

2.68% / -1.77%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

20.41%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

600,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

20.39

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.04%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.14%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

2,783,955

The total number of net outstanding options contracts for an ETF.

$66.41

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

EFA ETF.com Fit Insight

[As of 7/22/14] EFA delivers excellent exposure to developed equities outside the US and Canada. EFA's biggest difference from our benchmark is definitional: The fund's EAFE index excludes Canada. EFA also favors large firms and all but screens out the small-caps. Fund’s sector coverage is spot-on, leading to comparable performance with our benchmark over the past 12 months. (Insight updated 01/21/2014)

EFA Sector/Industry BreakdownView All

EFA Segment Benchmark
26.07% 25.57%
13.68% 13.23%
12.00% 12.19%
9.32% 10.66%
9.34% 10.48%
8.52% 7.68%
9.15% 7.51%
4.01% 3.80%
3.23% 3.74%

EFA Geographic ExposureView All

EFA Segment Benchmark
19.28% 21.48%
19.59% 20.91%
7.70% 9.25%
7.42% 8.84%
7.48% 8.73%
7.14% 8.07%
3.08% 3.55%
2.71% 3.10%
2.78% 2.97%
22.83% 13.12%

EFA Segment Benchmark
57.80% 65.51%
31.14% 33.71%
0.54% 0.54%
10.49% 0.21%
0.02% 0.03%
99.94% / 0.06% 99.96% / 0.04%

EFA Performance Statistics

0.99

The degree to which the fund and its segment benchmark move up and down in unison.

1.05

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

-1.56%

The excess return of fund relative to ETF.com segment benchmark on a risk adjusted basis. Only reported if statistically significant.

1.06

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.04

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.06%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI World Ex-USA
Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

EFA Benchmark Comparison

EFA
891 Holdings
Segment Benchmark
3393 Constituents
Shared Holdings
889 (Count)
 
78.34% (Weight)
EFASegment Benchmark
$55.06 B$65.46 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

70%80%
21%20%
8%0%
1%0%
19.1618.01

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.661.64

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.34%2.35%

The weighted average of the current yield on the portfolio’s holdings.

3393891

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.