DMXF vs EFAX: Grades, Fees and Holdings Compared

iShares ESG Advanced MSCI EAFE ETF

DMXFANasdaq

State Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

EFAXANYSE Arca

Overlap

30.2%by weight

Expense ratio

DMXF −0.08pt a year

DMXF0.12%EFAX0.20%

Avg volume · 30D

DMXF 4.0×the volume

DMXF75.7KEFAX18.7K

5Y return · a year

EFAX +0.9pt

DMXF+6.7%EFAX+7.6%

DMXF vs EFAX Performance

Oct 29, 2021 – Oct 30, 2026

+38.6%DMXF+43.9%EFAX

Expense ratio: DMXF 0.12%, better; EFAX 0.20%
Fund size: DMXF $1.04B; EFAX $487M
1Y total return: DMXF +14.0%, better; EFAX +10.3%
Yield (12M): DMXF 4.22%, better; EFAX 3.21%
Holdings: DMXF 408; EFAX 639
Avg volume (30D): DMXF 75.7K sh, better; EFAX 18.7K sh
NAV per share: DMXF $83.48; EFAX $53.53
52W range

ETF.net Grade

Pillar letters and Scores for DMXF, EFAX, with each pillar’s weight
Pillar	DMXF	EFAX
Cost30% weight	A88Higher	B68
Mission25% weight	A100	A100
Risk15% weight	D36	C44Higher
Tradability15% weight	A74Higher	B56
Holdings10% weight	C45	A71Higher
Durability5% weight	A76Higher	A75

Rank among International ESG & Values Index funds

How we build Categories ›

Same Category. DMXF and EFAX are both graded against the same 18 International ESG & Values Index funds, so their Grades compare head to head.

International ESG & Values Index⁠

Category · 18 funds

See all 18 ›

DMXF ranks 3rd and EFAX 5th of 18 funds in the International ESG & Values Index Category.

Rank 1AVSGXVanguard ESG International Stock ETFScore 82
Rank 2AESGDiShares ESG Aware MSCI EAFE ETFScore 79
Rank 3ADMXFiShares ESG Advanced MSCI EAFE ETFScore 76
Rank 4AFEDMNorthern Trust ESG & Climate Developed Markets ex-US Core ETFScore 72
Rank 5AEFAXState Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETFScore 71
Rank 6BPABDiShares Paris-Aligned Climate Optimized MSCI World ex USA ETFScore 68

Our read on each fund

ETF.net Research

DMXFAiShares ESG Advanced MSCI EAFE ETF

EFAXAState Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

In short

DMXF The strict one. Where iShares' ESG Aware EAFE fund screens five controversial businesses, DMXF screens fourteen, including the whole energy sector, and charges less than its lighter-screened sibling to do it.

EFAX Most ESG funds rebuild the developed-market index around ratings. EFAX makes one cut: companies that own fossil fuel reserves are out. The rest of the EAFE lineup stays put.

Stated mandate

DMXF The fund seeks to track an index of developed-market equities outside the United States and Canada, while incorporating positive environmental, social, and governance characteristics.

EFAX The fund seeks to provide returns generally corresponding to the MSCI EAFE ex Fossil Fuels Index before fees and expenses. The index screens the developed-market MSCI EAFE universe to exclude companies with specified fossil-fuel reserves.

Why people hold it

DMXF 0.12% a year, roughly half the typical fee among international ESG funds, and cheaper than the softer-screened iShares sibling ESGD at 0.20%.ishares.com
Fourteen business-involvement screens: fossil fuels, nuclear power and weapons, GMOs, palm oil, for-profit prisons, predatory lending, gambling, tobacco and more.ishares.com
The fossil fuel screen is categorical, not cosmetic: the index drops the entire GICS energy sector plus companies with industry ties such as thermal coal.blackrock.com
Sticks tightly to its MSCI EAFE Choice ESG Screened index, one of the stronger implementations among international ESG funds.

EFAX One legible rule: start with MSCI EAFE, drop the companies that hold fossil fuel reserves. No ratings black box to decode.ssga.com
Still a core-shaped fund, not a narrow slice: about 600 stocks across developed Europe, Australasia and the Far East.
0.20% a year, a shade under the typical fee in its international ESG peer group, from a State Street fund running since 2016.

Worth knowing

DMXF Deep exclusions mean real drift from plain EAFE. Sibling ESGD is built to keep risk and return close to the parent index; DMXF is not.ishares.com ishares.com 2
About 400 stocks, a narrower slate than the unscreened parent index, so individual names and surviving sectors carry more weight.
Mid-sized and moderately traded rather than a category heavyweight, and distributions arrive once or twice a year rather than quarterly.

EFAX The screen targets reserves ownership, not emissions or labor practices, so refiners, utilities and heavy fuel users can still make the cut.
Cheaper routes exist on the same aisle: VSGX at 0.10% and DMXF at 0.12% apply broader ESG screens for less.
Thinly traded next to the category's giants, so the bid-ask spread is a bigger slice of what it costs to get in and out.

Full DMXF profile⁠

Full EFAX profile⁠

DMXF vs EFAX Holdings

How DMXF and EFAX differ

Overlap by weight

30.2%

Shared holdings make up 55.1% of DMXF and 30.2% of EFAX.

Level by level

Holdings200 in both30.2%
Sector11 Sectors83.6%
Countryby domicile84.2%
Asset classEquity100%

Sector

Sector weights in DMXF and EFAX, widest gap first
Sector	More in DMXFMore in EFAX	DMXF	EFAX
Technology	DMXF +8.0 points	19.5%	11.5%
Financials	DMXF +5.4 points	33.2%	27.8%
Consumer Staples	EFAX +5.2 points	2.4%	7.6%
Consumer Discretionary	EFAX +4.2 points	4.7%	8.9%
Industrials	EFAX +3.2 points	14.9%	18.1%
Utilities	EFAX +2.9 points	0.7%	3.6%
Communication	DMXF +1.6 points	5.7%	4.1%
Real Estate	DMXF +1.1 points	2.7%	1.6%
Health Care	EFAX +0.9 points	11.1%	12.0%
Materials	DMXF +0.2 points	5.0%	4.8%
Energy	EFAX +0.1 points	0.0%	0.1%

Country, concentration and asset class

Country by domicile

Country weights in DMXF and EFAX, widest gap first
Country	More in DMXFMore in EFAX	DMXF	EFAX
United Kingdom	EFAX +6.9 points	5.9%	12.8%
Japan	DMXF +6.7 points	31.0%	24.3%
Netherlands	DMXF +4.2 points	10.8%	6.6%
Spain	EFAX +2.2 points	1.7%	3.9%
United States	EFAX +1.6 points	0.0%	1.6%
Germany	EFAX +1.1 points	8.3%	9.4%
Hong Kong	DMXF +1.0 points	2.6%	1.6%
Australia	DMXF +0.8 points	6.6%	5.8%
Other countries (17)	EFAX +1.1 points	33.2%	34.3%

Outside the US: DMXF 99% developed, 1% emerging. EFAX 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

DMXF22.3%
EFAX15.3%

Securities held

DMXF393
EFAX621

Asset class

DMXF: Equity
EFAX: Equity

Holdings

Only in DMXF193
In both200
Only in EFAX421

Only in DMXF

193 securities, 44.3% of DMXF by weight

Asml Holding5.72%
Sap2.23%
Allianz1.74%
Schneider Electric1.36%
Lair Liquide Societe Anonyme Pour1.18%
Ing Groep0.85%
Investor Class B0.70%
Axa SA0.70%
Infineon Technologies AG0.69%
Relx PLC0.66%
Deutsche Boerse AG0.62%
Essilorluxottica SA0.56%
Compass Group PLC0.54%
Argenx0.53%
London Stock Exchange Group PLC0.53%
Nordea Bank0.50%
Hermes International0.47%
Ferrari0.45%
Prosus NV Class N0.43%
Caixabank SA0.41%
Nokia0.41%
Societe Generale SA0.40%
Assa Abloy B0.36%
Ucb SA0.36%
Asm International NV0.36%
Haleon PLC0.35%
Legrand SA0.35%
Erste Group Bank AG0.35%
Assicurazioni Generali0.32%
Bank Leumi Le Israel0.30%
Swiss Life Holding AG0.30%
3I Group Fund PLC0.29%
Prudential PLC0.29%
Adidas N AG0.28%
Skandinaviska Enskilda Banken0.28%
Orange SA0.28%
Kbc Groep0.28%
Aviva PLC0.27%
Stmicroelectronics0.27%
Dnb Bank0.26%
Abn Amro Bank NV0.25%
Amadeus It Group0.25%
Ferrovial NV0.25%
Bank Hapoalim Bm0.25%
Sampo Class A0.24%
Publicis Groupe0.24%
Commerzbank AG0.23%
Adyen0.23%
Novozymes B0.23%
Aib Group PLC0.22%

Only in EFAX

421 securities, 69.8% of EFAX by weight

Asml Holding NV3.33%
Roche Holding AG1.74%
Hsbc Holdings PLC1.52%
Astrazeneca PLC1.35%
Banco Santander SA1.33%
Nestle SA Reg1.32%
Sap SE1.20%
Siemens AG Reg1.13%
Allianz SE Reg0.95%
Toyota Motor Corp0.94%
Schneider Electric SE0.79%
Iberdrola SA0.78%
Ubs Group AG Reg0.76%
Sony Group Corp0.74%
Rolls Royce Holdings PLC0.73%
Hitachi Ltd0.72%
Unilever PLC0.70%
Banco Bilbao Vizcaya Argenta0.70%
Airbus SE0.66%
Novo Nordisk A/S B0.64%
Air Liquide SA0.63%
British American Tobacco PLC0.62%
Siemens Energy AG0.60%
L Oreal0.58%
Unicredit Spa0.57%
Safran SA0.55%
Cie Financiere Richemo A Reg0.54%
Lvmh Moet Hennessy Louis Vui0.54%
Kioxia Holdings Corp0.54%
Gsk PLC0.50%
Bnp Paribas0.50%
Deutsche Telekom AG Reg0.49%
Intesa Sanpaolo0.48%
Ing Groep NV0.47%
National Australia Bank Ltd0.46%
Rio Tinto PLC0.45%
Anz Group Holdings Ltd0.44%
Fast Retailing Co Ltd0.43%
National Grid PLC0.43%
Bae Systems PLC0.41%
Enel Spa0.40%
Muenchener Rueckver AG Reg0.40%
Infineon Technologies AG0.40%
Barclays PLC0.40%
Lloyds Banking Group PLC0.39%
Investor Ab B Shs0.38%
Axa SA0.38%
Anheuser Busch Inbev Sa/Nv0.36%
Mitsubishi Heavy Industries0.36%
Industria De Diseno Textil0.35%

Weight gaps

The 100 widest of 200 Holdings in both funds.

Holding weights in DMXF and EFAX, widest gap first
Holding	More in DMXFMore in EFAX	DMXF	EFAX
Novartis AG	DMXF +1.28 points	2.78%	1.50%
Mitsubishi Ufj Financial Group	DMXF +0.99 points	2.19%	1.20%
Commonwealth Bank of Australia	DMXF +0.83 points	1.83%	1.00%
Recruit Holdings Ltd	DMXF +0.70 points	1.51%	0.81%
Advantest	DMXF +0.64 points	1.52%	0.88%
Sumitomo Mitsui Financial Group	DMXF +0.64 points	1.40%	0.76%
Abb Ltd	DMXF +0.55 points	1.25%	0.70%
Tokyo Electron	DMXF +0.53 points	1.25%	0.72%
Dbs Group Holdings Ltd	DMXF +0.50 points	1.10%	0.60%
Zurich Insurance Group AG	DMXF +0.48 points	1.05%	0.57%
Mizuho Financial Group	DMXF +0.48 points	1.07%	0.59%
Aia Group	DMXF +0.46 points	0.94%	0.48%
Tokio Marine Holdings	DMXF +0.43 points	0.92%	0.49%
Softbank Group Corp	DMXF +0.42 points	0.99%	0.57%
Keyence	DMXF +0.41 points	0.87%	0.46%
Spotify TechnologySPOT	DMXF +0.39 points	0.81%	0.42%
Westpac Banking Corporation	DMXF +0.37 points	0.83%	0.46%
Oversea-Chinese Banking	DMXF +0.32 points	0.70%	0.38%
Csl	DMXF +0.29 points	0.63%	0.34%
Macquarie Group Ltd Def	DMXF +0.28 points	0.61%	0.33%
Shin Etsu Chemical	DMXF +0.26 points	0.58%	0.32%
Nintendo	DMXF +0.25 points	0.54%	0.29%
Murata Manufacturing	DMXF +0.25 points	0.61%	0.36%
Lonza Group AG	DMXF +0.24 points	0.52%	0.28%
Hoya	DMXF +0.23 points	0.52%	0.29%
Kddi	DMXF +0.23 points	0.49%	0.26%
Swiss Re AG	DMXF +0.21 points	0.49%	0.28%
Givaudan SA	DMXF +0.20 points	0.42%	0.22%
Galderma Group N AG	DMXF +0.18 points	0.40%	0.22%
Softbank	DMXF +0.18 points	0.40%	0.22%
MS&AD Insurance Group Holdings	DMXF +0.17 points	0.37%	0.20%
Sandoz Group AG	DMXF +0.18 points	0.39%	0.21%
United Overseas Bank	DMXF +0.17 points	0.36%	0.20%
Daiichi Life Group	DMXF +0.17 points	0.37%	0.20%
Sompo Holdings	DMXF +0.16 points	0.34%	0.18%
Goodman Group Units	DMXF +0.16 points	0.35%	0.19%
Nec	DMXF +0.16 points	0.35%	0.19%
Sandvik	DMXF +0.15 points	0.35%	0.20%
Genmab	DMXF +0.15 points	0.32%	0.17%
Fujikura	DMXF +0.15 points	0.35%	0.20%
Alcon AG	DMXF +0.15 points	0.33%	0.18%
Japan Post Bank Ltd	DMXF +0.14 points	0.32%	0.18%
Ntt	DMXF +0.14 points	0.31%	0.17%
Komatsu	DMXF +0.15 points	0.32%	0.17%
Fanuc Corp	DMXF +0.14 points	0.32%	0.18%
Sika AG	DMXF +0.14 points	0.31%	0.17%
Daiichi Sankyo Ltd	DMXF +0.14 points	0.28%	0.14%
Otsuka Holdings	DMXF +0.13 points	0.30%	0.17%
Transurban Group Stapled Units	DMXF +0.13 points	0.28%	0.15%
Renesas Electronics Corp	DMXF +0.13 points	0.29%	0.16%
Chugai Pharmaceutical Ltd	DMXF +0.12 points	0.27%	0.15%
Fujitsu	DMXF +0.12 points	0.36%	0.24%
Resona Holdings	DMXF +0.13 points	0.28%	0.15%
Astellas Pharma	DMXF +0.12 points	0.26%	0.14%
Qbe Insurance Group	DMXF +0.12 points	0.26%	0.14%
Tdk	DMXF +0.12 points	0.29%	0.17%
Ajinomoto	DMXF +0.12 points	0.26%	0.14%
Boc Hong Kong Holdings Ltd	DMXF +0.12 points	0.24%	0.12%
Sumitomo Mitsui Trust Group	DMXF +0.12 points	0.25%	0.13%
Nebius NV Class ANBIS	DMXF +0.11 points	0.29%	0.18%
Vestas Wind Systems	DMXF +0.12 points	0.26%	0.14%
Mitsubishi Estate Co Ltd	DMXF +0.11 points	0.24%	0.13%
Hong Kong Exchanges and Clearing	DMXF +0.11 points	0.40%	0.29%
Oriental Land	DMXF +0.11 points	0.22%	0.11%
Fujifilm Holdings	DMXF +0.11 points	0.23%	0.12%
Techtronic Industries	DMXF +0.11 points	0.23%	0.12%
Disco Corp	DMXF +0.11 points	0.26%	0.15%
Mitsui Fudosan	DMXF +0.10 points	0.23%	0.13%
Kyocera	DMXF +0.11 points	0.24%	0.13%
Northern Star Resources Ltd	DMXF +0.10 points	0.22%	0.12%
Aercap HoldingsAER	DMXF +0.10 points	0.23%	0.13%
Canon	DMXF +0.10 points	0.22%	0.12%
Coca Cola Europacific Partners PLCCCEP	DMXF +0.10 points	0.21%	0.11%
Japan Post Holdings Ltd	DMXF +0.10 points	0.22%	0.12%
Helvetia Baloise Holding N AG	DMXF +0.10 points	0.20%	0.10%
Kao	DMXF +0.09 points	0.20%	0.11%
Asics	DMXF +0.09 points	0.19%	0.10%
Geberit AG	DMXF +0.09 points	0.21%	0.12%
Swisscom AG	DMXF +0.09 points	0.20%	0.11%
Sgs SA	DMXF +0.09 points	0.20%	0.11%
Bandai Namco Holdings Inc	DMXF +0.09 points	0.19%	0.10%
Sun Hung Kai Properties Ltd	DMXF +0.09 points	0.18%	0.09%
Julius Baer Gruppe AG	DMXF +0.09 points	0.18%	0.09%
Suzuki Motor	DMXF +0.08 points	0.19%	0.11%
Brambles	DMXF +0.09 points	0.19%	0.10%
Terumo	DMXF +0.09 points	0.19%	0.10%
Smc (Japan) Corp	DMXF +0.09 points	0.21%	0.12%
Ibiden Ltd	DMXF +0.08 points	0.23%	0.15%
Central Japan Railway	DMXF +0.08 points	0.17%	0.09%
Denso	DMXF +0.08 points	0.18%	0.10%
Secom	DMXF +0.08 points	0.16%	0.08%
Partners Group Holding AG	DMXF +0.08 points	0.16%	0.08%
Konami Group	DMXF +0.08 points	0.15%	0.07%
Vat Group AG	DMXF +0.07 points	0.17%	0.10%
Computershare Ltd	DMXF +0.07 points	0.15%	0.08%
Sonova Holding AG	DMXF +0.08 points	0.16%	0.08%
Evolution Mining	DMXF +0.07 points	0.16%	0.09%
Aeon	DMXF +0.07 points	0.15%	0.08%
Link Real Estate Investment Trust	DMXF +0.07 points	0.14%	0.07%
Schindler Holding Par AG	DMXF +0.07 points	0.14%	0.07%

All 393 DMXF holdings⁠All 625 EFAX 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.

DMXF vs EFAX Cost

Overpaying EFAX vs DMXF

$1,635

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

DMXF 0.12%
$2,520
EFAX 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

DMXF 0.12%
EFAX 0.20%
Overpaying

Year by year

Year	DMXF	EFAX	Overpaying
10	$220	$365	$145
20	$859	$1,421	$562
30	$2,520	$4,155	$1,635

Expense ratio

0.12%DMXF, cheaper
0.20%EFAX

DMXF0.12%EFAX0.20%

0.10%0.95%

Middle half of International ESG & Values Index funds
Median 0.23%

DMXF 2nd cheapest of 18 funds

EFAX 6th cheapest of 18 funds

DMXF vs EFAX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DMXF 4.22%, better; EFAX 3.21%
Payout (12M): DMXF $3.54; EFAX $1.71
Last payment: DMXF $1.03; EFAX $0.80
Ex-dividend: DMXF Jun 15, 2026; EFAX Jun 1, 2026
Paid on: DMXF Jun 18, 2026; EFAX Jun 5, 2026
Frequency: DMXF Twice a year; EFAX Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DMXFTwice a year · 13 paymentsAll DMXF payments⁠

EFAXTwice a year · 21 paymentsAll EFAX payments⁠

DMXF vs EFAX Risk

Fall from peak · 5 years

DMXF
EFAX

Risk facts

VolatilityStd dev, 3 years: DMXF 12.8%EFAX 12.3%, better
Return per unit of riskSharpe ratio, 3 years: DMXF 1.06EFAX 1.12, better
Worst fallMax drawdown, 5 years: DMXF −33.7%EFAX −31.2%, better
Market sensitivityBeta, 5 years: DMXF 0.86EFAX 0.98; Market = 1

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