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

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 in assets and tradesexcellent coverage with unmatched liquidity 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 while competing funds charge a fraction of this amount. Still, tracking data suggests that EFA's actual holding cost is typically far less than its fees. In all, EFA delivers excellent coverage of international equities with unmatched liquidity. (Insight updated 11/17/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

EFA
-2.50% -6.03% -5.01% -1.49% 12.43% 5.76% 4.73%

EFA (NAV)
-3.19% -6.80% -5.48% -1.59% 11.90% 5.74% 4.67%

MSCI EAFE Index
-3.16% -6.76% -5.34% -1.45% 12.04% 5.87% 4.78%
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

Issuer BlackRock

A company that produces and manages ETFs.

Inception Date 08/14/01

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

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

Expense Ratio 0.34%

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

Assets Under Management $52.39 B

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

Average Daily $ Volume $1.16 B

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

(%) | 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 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.02%

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 45 days, as a percent.

EFA Portfolio Data

Weighted Average Market Cap $63.05 B

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

Price / Earnings Ratio 17.65

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

Price / Book Ratio 1.63

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

Distribution Yield 3.71%

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

Next Ex-Dividend Date 12/29/14

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

Number of Holdings 899

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

Index Tracked MSCI EAFE Index

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

Index Weighting Methodology Market Cap

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

Index Selection Methodology Market Cap

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

Segment 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.

Related ETFs to EFA

Top Competing ETFs 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

EFA fee 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 small median tracking difference means the fund tends to claw back most of its fee. EFA is huge: Its asset base is far greater than the combined AUM of all peer funds. (Insight updated 11/17/2014)


Total Return - 12/18/2014

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

EFA
-2.50% -6.03% -5.01% -1.49% 12.43% 5.76% 4.73%

EFA (NAV)
-3.19% -6.80% -5.48% -1.59% 11.90% 5.74% 4.67%

MSCI EAFE Index
-3.16% -6.76% -5.34% -1.45% 12.04% 5.87% 4.78%

MSCI World Ex-USA Investable Markets
-3.33% -7.33% -5.18% -1.41% 11.54% 6.01% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EFA Portfolio Management

Expense Ratio 0.34%

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

(12 Mo) | 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." href="javascript:void(0)" class="term">Median Tracking Difference (12 Mo) -0.17%

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.

EFA Tax Exposures

Max LT/ST Capital Gains Rate 20.00% / 39.60%

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

Tax on Distributions Qualified dividends

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

Distributes K1 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

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

OTC Derivative Use No

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

Securities Lending Active Yes

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

ETN Counterparty N/A

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

ETN Counterparty Risk N/A

The risk of default by the ETN counterparty.

Fund Closure Risk Low

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

Portfolio Disclosure Daily

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

EFA ETF.com Tradability Insight

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 11/17/2014)

Average Spread

Premium/Discount

Volume

EFA ETF.com/ Block LiquidityAs of 12/19/2014

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

Avg. Daily Share Volume 18,662,163

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

Average Daily $ Volume $1.16 B

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

Median Daily Share Volume 16,662,552

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

(%) | 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 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.02%

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 45 days, as a percent.

($) | The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars." href="javascript:void(0)" class="term">Average Spread ($) $0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

(12 Mo) | The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period." href="javascript:void(0)" class="term">Max. Premium / Discount (12 Mo) 1.50% / -1.77%

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

Impediment to Creations 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.

Market Hours Overlap 20.41%

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

(Shares) | 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." href="javascript:void(0)" class="term">Creation Unit Size (Shares) 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.

(45 Day Average) | 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." href="javascript:void(0)" class="term">Creation Unit/Day (45 Day Average) 27.77

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.

(%) | The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit." href="javascript:void(0)" class="term">Creation Unit Cost (%) 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.

Underlying Volume / Unit 0.11%

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.

Open Interest on ETF Options 2,482,145

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

ETF.com Implied Liquidity 5

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

EFA ETF.com Fit Insight

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. The fund’s sector coverage is spot-on, leading to comparable performance with our benchmark over the past 12 months. (Insight updated 11/17/2014)

EFA Sector/Industry BreakdownView All

Sector EFA Segment Benchmark
Financials 26.46% 25.68%

Industrials 13.67% 13.20%

Consumer Cyclicals 12.47% 12.63%

Healthcare 10.04% 11.35%

Consumer Non-Cyclicals 9.65% 10.73%

Basic Materials 7.75% 7.08%

Energy 7.54% 6.22%

Technology 4.18% 3.96%

Utilities 3.29% 3.80%

EFA Geographic ExposureView All

Countries EFA Segment Benchmark
Japan 19.83% 21.13%

United Kingdom 18.85% 20.90%

Switzerland 7.90% 9.36%

France 7.87% 9.36%

Germany 7.88% 9.18%

Australia 6.40% 7.22%

Spain 3.11% 3.58%

Netherlands 2.70% 3.18%

Hong Kong 2.75% 3.13%

Other 22.73% 12.95%

Regions EFA Segment Benchmark
Europe 58.65% 66.18%

Asia-Pacific 30.66% 33.10%

Middle East & Africa 0.55% 0.56%

North America 10.12% 0.14%

Latin America 0.02% 0.02%

Developed /
Emerging Split
99.95% / 0.05% 99.97% / 0.03%

EFA Performance Statistics

Beta 1.04

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.

Up Beta 1.05

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.

Down Beta 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.

Downside Standard Deviation 0.07%

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.

Segment 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
899 Holdings
Segment Benchmark
3435 Constituents
Shared Holdings
897 (Count)
 
78.82% (Weight)
EFASegment Benchmark
Market Cap | The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio." href="javascript:void(0)" class="term">Weighted Average
Market Cap
$53.3 B$63.05 B

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

Size Split

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

Large (>12.9B)68%79%
Mid (>2.7B)22%21%
Small (>600M)8%0%
Micro (<600M)1%0%
Price / Book Ratio1.621.63

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

Dividend Yield2.57%2.58%

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

Holdings | 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." href="javascript:void(0)" class="term">Number Of
Holdings
3435899

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.

ConcentrationLowLow

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