ACWV vs EFAV: Grades, Fees and Holdings Compared

iShares MSCI Global Min Vol Factor ETF

ACWVBCboe

iShares MSCI EAFE Min Vol Factor ETF

EFAVACboe

Overlap

18.4%by weight

Expense ratio

ACWV0.20%EFAV0.20%

Avg volume · 30D

EFAV 5.5×the volume

ACWV93.5KEFAV510K

10Y return · a year

ACWV +0.8pt

ACWV+8.1%EFAV+7.3%

ACWV vs EFAV Performance

Oct 29, 2021 – Oct 30, 2026

+36.6%ACWV+45.5%EFAV

Expense ratio: ACWV 0.20%; EFAV 0.20%
Fund size: ACWV $3.44B; EFAV $5.53B
1Y total return: ACWV +11.7%; EFAV +17.8%, better
Yield (12M): ACWV 1.83%; EFAV 2.97%, better
Holdings: ACWV 407; EFAV 283
Avg volume (30D): ACWV 93.5K sh; EFAV 510K sh, better
NAV per share: ACWV $129.38; EFAV $96.22
52W range

ETF.net Grade

Pillar letters and Scores for ACWV, EFAV, with each pillar’s weight
Pillar	ACWV	EFAV
Cost30% weight	A89	A89
Mission25% weight	D25	B56Higher
Risk15% weight	A77Higher	A75
Tradability15% weight	A83	A84Higher
Holdings10% weight	A76Higher	B69
Durability5% weight	A76	A83Higher

Rank among International Factor Index funds

How we build Categories ›

Same Category. ACWV and EFAV are both graded against the same 15 International Factor Index funds, so their Grades compare head to head.

International Factor Index⁠

Category · 15 funds

See all 15 ›

EFAV ranks 1st and ACWV 2nd of 15 funds in the International Factor Index Category.

Rank 1AEFAViShares MSCI EAFE Min Vol Factor ETFScore 75
Rank 2BACWViShares MSCI Global Min Vol Factor ETFScore 68
Rank 3BIDLVInvesco S&P International Developed Low Volatility ETFScore 66

Our read on each fund

ETF.net Research

ACWVBiShares MSCI Global Min Vol Factor ETF

EFAVAiShares MSCI EAFE Min Vol Factor ETF

In short

ACWV Global min vol in one ticker: an optimizer sifts the MSCI ACWI universe, developed and emerging, for the lowest-risk mix of roughly 400 stocks. Same playbook since 2011, at 0.20% a year.

EFAV The 2011 original for overseas min vol: roughly 300 developed-market stocks outside the US and Canada, picked for lower-volatility traits, at 0.20% a year. One of the strongest builds in its international factor group.

Stated mandate

ACWV The fund seeks to track an index of developed and emerging market equities that collectively exhibit lower volatility than the broader developed and emerging equity markets.

EFAV The fund seeks to track an index of developed-market equities outside the United States and Canada that have lower-volatility characteristics.

Why people hold it

ACWV 0.20% a year for a globally optimized factor build, well under the 0.41% median for international factor ETFs.
Not a simple low-vol screen. The index optimizes the MSCI ACWI for the lowest absolute risk within a set of constraints, so how stocks move together shapes the weights.msci.com
One ticker for the whole map. The developed-only sibling EFAV charges the same 0.20%; ACWV folds emerging markets into the same wrapper.
Running since 2011 with billions in assets, it sits among the stronger implementations in its international factor peer group.

EFAV Charges 0.20% a year, less than half the typical fee among international factor funds.
Running since 2011 and now a multi-billion-dollar fund that trades actively, one of the longer records in the international factor aisle.
Spreads across about 300 names and follows the MSCI EAFE Minimum Volatility Index, so the low-vol call is rules-based rather than a manager's hand-picked list.ishares.com
Stands among the strongest implementations in its 18-fund international factor peer group.

Worth knowing

ACWV Minimum volatility is the aim, not a floor. iShares states the fund may experience more than minimum volatility, with no guarantee the index strategy lowers it.ishares.com
Emerging markets ride along inside this defensive build, bringing the political and economic swings iShares flags as heightened in those markets.ishares.com
By design it leans away from the cap-weighted world index, so its country and sector mix can look quite different and its path can diverge in either direction.msci.com

EFAV The min-vol screen reshapes the lineup, so sector and country weights can sit well away from a plain EAFE index fund and results diverge from it.
QLVD runs a developed ex-US low-volatility mandate for 0.15%, so cheaper shelf-mates exist in the same aisle.
Coverage stops at developed markets outside the US and Canada, leaving emerging markets and Canadian stocks to other holdings.ishares.com

Full ACWV profile⁠

Full EFAV profile⁠

ACWV vs EFAV Holdings

How ACWV and EFAV differ

Overlap by weight

18.4%

Shared holdings make up 43.9% of EFAV and 19.7% of ACWV.

Level by level

Countryby domicile15.7%
Holdings73 in both18.4%
Sector11 Sectors75.4%
Asset classEquity100%

Sector

Sector weights in ACWV and EFAV, widest gap first
Sector	More in ACWVMore in EFAV	ACWV	EFAV
Technology	ACWV +20.3 points	26.5%	6.2%
Industrials	EFAV +7.2 points	7.0%	14.2%
Financials	EFAV +5.6 points	14.5%	20.1%
Energy	EFAV +4.8 points	4.5%	9.3%
Health Care	ACWV +2.5 points	13.7%	11.2%
Real Estate	EFAV +1.9 points	0.7%	2.6%
Consumer Staples	EFAV +1.9 points	9.8%	11.7%
Communication	ACWV +1.9 points	10.4%	8.5%
Utilities	EFAV +1.4 points	7.4%	8.8%
Consumer Discretionary	EFAV +1.1 points	4.8%	5.9%
Materials	EFAV +0.7 points	0.9%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in ACWV and EFAV, widest gap first
Country	More in ACWVMore in EFAV	ACWV	EFAV
United States	ACWV +66.6 points	66.6%	0.0%
Japan	EFAV +17.7 points	11.5%	29.2%
United Kingdom	EFAV +10.0 points	0.0%	10.0%
Switzerland	EFAV +9.2 points	1.8%	11.0%
China	ACWV +6.8 points	6.8%	0.0%
France	EFAV +5.8 points	0.0%	5.8%
Australia	EFAV +5.5 points	0.0%	5.5%
Taiwan	ACWV +5.0 points	5.0%	0.0%
Other countries (14)	EFAV +30.3 points	8.2%	38.5%

Outside the US: ACWV 51% developed, 49% emerging. EFAV 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

ACWV12.1%
EFAV15.2%

Securities held

ACWV378
EFAV265

Asset class

ACWV: Equity
EFAV: Equity

Holdings

Only in ACWV305
In both73
Only in EFAV192

Only in ACWV

305 securities, 80.3% of ACWV by weight

Johnson & Johnson1.48%
Microsoft1.35%
Motorola Solutions Inc1.34%
Cisco Systems Inc1.33%
Duke Energy Corp1.18%
Taiwan Semiconductor Manufacturing1.17%
Berkshire Hathaway Inc Class B1.12%
Exxonmobil Holdings Corp1.06%
Southern1.04%
Cencora1.02%
Waste Management Inc1.01%
Chubb0.99%
NVIDIA0.94%
Mckesson Corp0.94%
Republic Services Inc0.90%
Procter & Gamble0.84%
Coca-Cola0.84%
Bank of China Ltd H0.81%
Consolidated Edison0.81%
Mcdonalds Corp0.80%
Pepsico0.79%
Roper Technologies0.78%
Wec Energy Group0.71%
Kroger0.69%
AT&T0.69%
Verizon Communications Inc0.68%
Visa Class A0.67%
Tjx0.66%
Bharti Airtel Ltd0.62%
Monster Beverage0.62%
Autodesk0.62%
Walmart0.61%
Oreilly Automotive Inc0.60%
Teledyne Technologies0.59%
T Mobile Us Inc0.59%
Cme Group Class A0.59%
Constellation Software0.59%
Merck & Co Inc0.58%
Mondelez International Class A0.57%
Marsh0.57%
Vertex Pharmaceuticals0.56%
Welltower0.56%
AbbVie0.53%
Progressive0.50%
Verisign0.48%
Apple0.48%
Palantir Technologies Class A0.48%
Church and Dwight Inc0.48%
Arch Capital Group0.47%
Colgate-Palmolive0.47%

Only in EFAV

192 securities, 56.1% of EFAV by weight

Shell1.69%
Equinor1.64%
Totalenergies1.45%
Zurich Insurance Group AG1.32%
Oversea-Chinese Banking1.22%
Unilever PLC1.17%
Swiss Prime Site AG0.92%
Bridgestone0.75%
Kao0.73%
Lair Liquide Societe Anonyme Pour0.72%
Bp PLC0.71%
Poste Italiane0.71%
United Overseas Bank0.68%
Itochu0.68%
Helvetia Baloise Holding N AG0.67%
Astrazeneca PLC0.66%
Sanofi SA0.66%
British American Tobacco0.64%
Deutsche Boerse AG0.64%
Loreal SA0.64%
Medibank Private0.63%
Tryg0.62%
Schindler Holding AG0.62%
Industria De Diseno Textil SA0.62%
Omv0.62%
Fast Retailing0.61%
Bank Leumi Le Israel0.60%
Haleon PLC0.57%
Anheuser-Busch Inbev SA0.54%
Daito Trust Construction Ltd0.51%
Nippon Building Fund Reit0.50%
Telstra Group0.50%
Kone0.50%
Tesco PLC0.49%
Cheung Kong Infrastructure Holding0.48%
National Grid PLC0.48%
Mitsubishi0.48%
Astellas Pharma0.47%
Snam0.47%
Groupe Bruxelles Lambert NV0.46%
Coles Group Ltd0.45%
Bae Systems PLC0.45%
Glaxosmithkline0.45%
E.on N0.43%
Commonwealth Bank of Australia0.43%
Pearson PLC0.41%
Muenchener Rueckversicherungs-Gese0.41%
Wesfarmers0.40%
Roche Holding AG0.40%
Bc Vaud N0.39%

Weight gaps

All 73 Holdings in both funds, largest gap first.

Holding weights in ACWV and EFAV, widest gap first
Holding	More in ACWVMore in EFAV	ACWV	EFAV
Iberdrola	EFAV +1.46 points	0.08%	1.54%
Secom	EFAV +1.17 points	0.32%	1.49%
Dbs Group Holdings Ltd	EFAV +1.10 points	0.29%	1.39%
Eni	EFAV +1.07 points	0.47%	1.54%
Sampo Class A	EFAV +0.99 points	0.12%	1.11%
Swisscom AG	EFAV +0.93 points	0.41%	1.34%
Obic Ltd	EFAV +0.93 points	0.16%	1.09%
Nestle SA	EFAV +0.90 points	0.12%	1.02%
Japan Tobacco	EFAV +0.84 points	0.22%	1.06%
Boc Hong Kong Holdings Ltd	EFAV +0.74 points	0.20%	0.94%
Power Assets Holdings	EFAV +0.74 points	0.18%	0.92%
Takeda Pharmaceutical	EFAV +0.71 points	0.97%	1.68%
Clp Holdings	EFAV +0.71 points	0.28%	0.99%
Danone SA	EFAV +0.65 points	0.06%	0.71%
Singapore Exchange	EFAV +0.60 points	0.07%	0.67%
Koninklijke Ahold Delhaize	EFAV +0.56 points	0.15%	0.71%
Bank Hapoalim Bm	EFAV +0.55 points	0.31%	0.86%
Novartis AG	EFAV +0.53 points	0.88%	1.41%
Shionogi	EFAV +0.46 points	0.20%	0.66%
Compass Group PLCCPG.L	EFAV +0.44 points	0.08%	0.52%
Transurban Group Stapled Units	EFAV +0.43 points	0.27%	0.70%
Otsuka Corp	EFAV +0.41 points	0.14%	0.55%
East Japan Railway	EFAV +0.41 points	0.41%	0.82%
Sap	EFAV +0.39 points	0.32%	0.71%
Verbund AG	EFAV +0.39 points	0.07%	0.46%
Koninklijke Kpn NV	EFAV +0.39 points	0.35%	0.74%
Ntt	EFAV +0.37 points	0.62%	0.99%
Hkt Trust and Hkt Units	EFAV +0.36 points	0.10%	0.46%
Mizrahi Tefahot Bank Ltd	EFAV +0.31 points	0.09%	0.40%
Swire Pacific Ltd A	EFAV +0.30 points	0.07%	0.37%
Orange SA	EFAV +0.30 points	0.57%	0.87%
Central Japan Railway	EFAV +0.30 points	0.35%	0.65%
Elisa	EFAV +0.27 points	0.10%	0.37%
Hong Kong and China Gas Ltd	EFAV +0.27 points	0.12%	0.39%
Softbank	EFAV +0.26 points	0.81%	1.07%
Pan Pacific International Holdings	EFAV +0.27 points	0.10%	0.37%
The Sage GroupSGE.L	EFAV +0.26 points	0.12%	0.38%
Aena Sme SA	EFAV +0.25 points	0.28%	0.53%
Mtr Corporation	EFAV +0.25 points	0.12%	0.37%
Fujifilm Holdings	ACWV +0.24 points	0.35%	0.11%
Suntory Beverage & Food Ltd	EFAV +0.22 points	0.02%	0.24%
Oriental Land	EFAV +0.22 points	0.31%	0.53%
Ana Holdings	EFAV +0.21 points	0.06%	0.27%
Kirin Holdings	EFAV +0.19 points	0.11%	0.30%
West Japan Railway	EFAV +0.16 points	0.16%	0.32%
Osaka Gas	EFAV +0.17 points	0.23%	0.40%
Nomura Research Institute	EFAV +0.17 points	0.27%	0.44%
Getlink	EFAV +0.16 points	0.11%	0.27%
Asml Holding	ACWV +0.15 points	0.41%	0.26%
Chocoladefabriken Lindt & Spruengl	EFAV +0.15 points	0.18%	0.33%
Inpex	EFAV +0.14 points	0.22%	0.36%
Fujitsu	ACWV +0.13 points	0.45%	0.32%
Singapore Technologies Engineering	EFAV +0.13 points	0.23%	0.36%
Keyence	ACWV +0.13 points	0.41%	0.28%
Chubu Electric Power Inc	ACWV +0.13 points	0.17%	0.04%
Ryanair Holdings PLC	EFAV +0.12 points	0.05%	0.17%
Nokia	ACWV +0.12 points	0.23%	0.11%
Canon	EFAV +0.10 points	0.45%	0.55%
Jeronimo Martins SA	EFAV +0.09 points	0.05%	0.14%
Sompo Holdings	EFAV +0.07 points	0.05%	0.12%
Aeon	EFAV +0.07 points	0.02%	0.09%
Kyocera	ACWV +0.06 points	0.50%	0.44%
Neste	ACWV +0.06 points	0.19%	0.13%
Tokyo Gas Ltd	EFAV +0.06 points	0.13%	0.19%
Hankyu Hanshin Holdings	EFAV +0.05 points	0.11%	0.16%
Infratil Ltd	ACWV +0.05 points	0.09%	0.04%
Kddi	EFAV +0.04 points	0.97%	1.01%
Argenx	ACWV +0.03 points	0.42%	0.39%
Nec	EFAV +0.02 points	0.22%	0.24%
Deutsche Telekom N AG	EFAV +0.02 points	0.43%	0.45%
Check Point Software TechnologiesCHKP	ACWV +0.02 points	0.23%	0.22%
Otsuka Holdings	EFAV +0.01 points	0.43%	0.44%
Singapore Telecommunications Ltd	Same weight	0.45%	0.45%

All 378 ACWV holdings⁠All 265 EFAV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ACWV vs EFAV Cost

Same expense ratio

$4,155

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ACWV 0.20%
$4,155
EFAV 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

ACWV 0.20%
EFAV 0.20%

Year by year

Year	ACWV	EFAV
10	$365	$365
20	$1,421	$1,421
30	$4,155	$4,155

Expense ratio

0.20%ACWV
0.20%EFAV

ACWV0.20%EFAV0.20%

0.08%0.65%

Middle half of International Factor Index funds
Median 0.34%

ACWV 2nd cheapest of 15 funds

EFAV 2nd cheapest of 15 funds

ACWV vs EFAV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ACWV 1.83%; EFAV 2.97%, better
Payout (12M): ACWV $2.36; EFAV $2.86
Last payment: ACWV $1.07; EFAV $1.68
Ex-dividend: ACWV Jun 15, 2026; EFAV Jun 15, 2026
Paid on: ACWV Jun 18, 2026; EFAV Jun 18, 2026
Frequency: ACWV Twice a year; EFAV Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ACWVTwice a year · 19 paymentsAll ACWV payments⁠

EFAVTwice a year · 18 paymentsAll EFAV payments⁠

ACWV vs EFAV Risk

Fall from peak · 5 years

ACWV
EFAV

Risk facts

VolatilityStd dev, 3 years: ACWV 8.7%, betterEFAV 10.5%
Return per unit of riskSharpe ratio, 3 years: ACWV 1.03EFAV 1.24, better
Worst fallMax drawdown, 5 years: ACWV −18.1%, betterEFAV −26.0%
Market sensitivityBeta, 5 years: ACWV 0.53EFAV 0.48; Market = 1

ACWV and EFAV in the news

All news⁠

ETF Filings
First Trust to liquidate HDMV, a $15 million international low-volatility ETF
Sep 14, 2026EFAV

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ACWV vs EFAV

In short

Stated mandate

Why people hold it

Worth knowing

How ACWV and EFAV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ACWV

Only in EFAV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

First Trust to liquidate HDMV, a $15 million international low-volatility ETF

How ACWV and EFAV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ACWV

Only in EFAV

Weight gaps