EFA vs VEA: Grades, Fees and Holdings Compared

iShares MSCI EAFE ETF

EFABNYSE Arca

Vanguard FTSE Developed Markets ETF

VEAANYSE Arca

Overlap

63.8%by weight

Expense ratio

VEA −0.29pt a year

EFA0.32%VEA0.03%

Avg volume · 30D

EFA 1.2×the volume

EFA11.9MVEA10.1M

10Y return · a year

VEA +0.6pt

EFA+9.2%VEA+9.8%

EFA vs VEA Performance

Oct 29, 2021 – Oct 30, 2026

+50.5%EFA+55.4%VEA

Expense ratio: EFA 0.32%; VEA 0.03%, better
Fund size: EFA $76.6B; VEA $314B
1Y total return: EFA +13.1%; VEA +16.9%, better
Yield (12M): EFA 3.25%, better; VEA 2.45%
Holdings: EFA 673; VEA 3914
Avg volume (30D): EFA 11.9M sh, better; VEA 10.1M sh
NAV per share: EFA $103.23; VEA $69.29
52W range

ETF.net Grade

Pillar letters and Scores for EFA, VEA, with each pillar’s weight
Pillar	EFA	VEA
Cost30% weight	F15	A90Higher
Mission25% weight	A100	A100
Risk15% weight	C44Higher	C43
Tradability15% weight	A90Higher	B58
Holdings10% weight	B68	A84Higher
Durability5% weight	A83	A91Higher

Rank among Developed International Core funds

How we build Categories ›

Same Category. EFA and VEA are both graded against the same 20 Developed International Core funds, so their Grades compare head to head.

Developed International Core⁠

Category · 20 funds

See all 20 ›

VEA ranks 2nd and EFA 10th of 20 funds in the Developed International Core Category.

Rank 1AIDEViShares Core MSCI International Developed Markets ETFScore 81
Rank 2ASPDWState Street SPDR Portfolio Developed World ex-US ETFScore 80
Rank 2AVEAVanguard FTSE Developed Markets ETFScore 80
Rank 4AIEFAiShares Core MSCI EAFE ETFScore 76
Rank 9BBBINJPMorgan BetaBuilders International Equity ETFScore 63
Rank 10BEFAiShares MSCI EAFE ETFScore 60
Rank 11BBBEUJPMorgan BetaBuilders Europe ETFScore 58

Our read on each fund

ETF.net Research

EFABiShares MSCI EAFE ETF

VEAAVanguard FTSE Developed Markets ETF

In short

EFA The 2001 original: one ticker for roughly 700 large and mid caps in developed markets outside the US and Canada. Newer clones undercut it badly on fee, but few trade as heavily.

VEA Everything developed outside the US in one line item: roughly 3,900 stocks across Canada, Europe and the Pacific, small caps included. Vanguard has run it since 2007 at three basis points.

Stated mandate

EFA The fund seeks to track large- and mid-capitalization developed-market equities outside the United States and Canada, providing broad international developed-market exposure.

VEA Seeks to track the FTSE Developed All Cap ex US Index through an indexing strategy investing substantially all assets in the index’s large-, mid-, and small-cap stocks across Canada, Europe, and the Pacific region.

Why people hold it

EFA Launched in 2001, one of the first ways to own developed markets outside the US and Canada in a single ticker. Still a tens-of-billions fund.
Very actively traded, so entering and exiting is rarely the hard part in this corner of the market.
About 700 large and mid caps tracking the MSCI EAFE Index (Net): a published benchmark, no manager discretion, no guessing what is inside.

VEA Charges 0.03% a year against a 0.18% median for its peer group. Low cost is the whole point of index exposure, and this sits at the cheap end of it.
The index reaches down to small caps and keeps Canada in, so you own about 3,900 companies across Canada, Europe and the Pacific, not just the mega-cap layer.vanguard.com
Tracks its FTSE benchmark closely and trades in heavy volume, which keeps the spread to get in or out slim, whether the order is small or institutional.
Live since 2007 and one of the largest international stock funds on the market. Distributions come quarterly.

Worth knowing

EFA The fee is the story: 0.32% against a 0.18% cohort median, while VEA, SCHF and SPDW charge 0.03% and iShares' own IDEV charges 0.04%.
Large and mid caps only, with Canada and emerging markets outside the mandate, so it is not a complete map of the world outside the US.
Distributions arrive once or twice a year rather than quarterly or monthly.

VEA Developed markets only, and no US stocks. Emerging markets and the home market sit outside the mandate entirely.vanguard.com
The 0.03% fee is matched, not owned: SPDW and SCHF price the same and IDEV is a hair above. The separator here is index construction, not cost.
Plain index exposure, no buffer or downside protection. Foreign markets and the small-cap sleeve can swing hard, and the fund holds the full ride.

Full EFA profile⁠

Full VEA profile⁠

EFA vs VEA Holdings

How EFA and VEA differ

Overlap by weight

63.8%

Shared holdings make up 96.0% of EFA and 63.8% of VEA.

Level by level

Holdings617 in both63.8%
Countryby domicile77.5%
Sector11 Sectors90.4%
Asset classEquity100%

Sector

Sector weights in EFA and VEA, widest gap first
Sector	More in EFAMore in VEA	EFA	VEA
Technology	VEA +6.6 points	10.3%	16.9%
Health Care	EFA +3.2 points	11.0%	7.8%
Consumer Staples	EFA +1.9 points	7.2%	5.3%
Materials	VEA +1.8 points	5.8%	7.6%
Consumer Discretionary	EFA +1.4 points	8.3%	6.9%
Financials	EFA +1.1 points	25.5%	24.4%
Industrials	EFA +0.8 points	18.3%	17.5%
Real Estate	VEA +0.8 points	1.5%	2.3%
Utilities	EFA +0.8 points	3.9%	3.1%
Energy	VEA +0.5 points	4.4%	4.9%
Communication	EFA +0.5 points	3.8%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in EFA and VEA, widest gap first
Country	More in EFAMore in VEA	EFA	VEA
Canada	VEA +10.8 points	0.0%	10.8%
South Korea	VEA +9.2 points	0.0%	9.2%
United Kingdom	EFA +3.9 points	15.0%	11.1%
Switzerland	EFA +3.3 points	9.9%	6.6%
France	EFA +2.9 points	9.5%	6.6%
Germany	EFA +2.8 points	9.0%	6.2%
Japan	EFA +2.7 points	24.6%	21.9%
Netherlands	EFA +1.8 points	5.8%	4.0%
Other countries (17)	EFA +2.6 points	26.2%	23.6%

Outside the US: EFA 99% developed, 1% emerging. VEA 89% developed, 11% emerging.

Concentration

Weight in the 10 largest Holdings

EFA14.4%
VEA13.6%

Securities held

EFA657
VEA3,890

Asset class

EFA: Equity
VEA: Equity

Holdings

Only in EFA40
In both617
Only in VEA3,273

Only in EFA

40 securities, 3.4% of EFA by weight

Spotify Technology0.41%
Nordea Bank0.25%
Basf N0.25%
Teva Pharmaceutical Industries0.23%
Ferrari0.23%
Nebius NV Class A0.14%
Adidas N AG0.14%
Stmicroelectronics0.14%
Sea Ads Representing Ltd Class A0.13%
Ferrovial NV0.12%
Aercap Holdings0.12%
Aib Group PLC0.12%
Coca Cola Europacific Partners PLC0.11%
Bt Group PLC0.08%
Kerry Group PLC0.08%
Edp Energias De Portugal0.08%
Henkel & Kgaa Pref AG0.06%
Vonovia SE0.06%
Check Point Software Technologies0.06%
Banco Comercial Portugues SA0.05%
Stellantis0.04%
Galp Energia Sgps SA Class B0.04%
Jardine Matheson Holdings0.04%
Upm-Kymmene Corp0.04%
Yangzijiang Shipbuilding (Holdings0.04%
Hongkong Land Holdings Ltd0.04%
Sartorius Pref AG0.04%
Millicom International Cellular0.03%
Grab Holdings Class A0.03%
International Airlines Group0.03%
Hkt Trust and Hkt Units0.03%
Dr Ing Hc F Porsche Prf AG0.03%
Jeronimo Martins SA0.03%
Futu Holdings Adr0.02%
Edp Renewables SA0.02%
Porsche Automobil Holding Pref0.02%
Davide Campari Milano NV0.02%
Unipol Axa0.00%
Wisa Group PLC0.00%
Nmc Health PLC0.00%

Only in VEA

3,273 securities, 36.0% of VEA by weight

Samsung Electronics Co Ltd2.81%
SK hynix Inc2.30%
SLBBH11421.07%
Royal Bank of Canada0.85%
Toronto-Dominion Bank/The0.60%
Shopify Inc0.56%
Bank of Montreal0.37%
Samsung Electronics-Pref0.35%
Bank of Nova Scotia/The0.35%
Enbridge Inc0.32%
Canadian Imperial Bank of Commerce0.31%
Canadian Natural Resources Ltd0.30%
Agnico Eagle Mines Ltd0.29%
Suncor Energy Inc0.25%
Brookfield Corp0.24%
Canadian Pacific Kansas City Ltd0.23%
Air Liquide SA0.23%
SK Square Co Ltd0.23%
Manulife Financial Corp0.22%
Barrick Mining Corp0.21%
L'Oreal SA0.20%
Canadian National Railway Co0.20%
Nordea Bank Abp0.20%
Samsung Electro-Mechanics Co Ltd0.19%
Wheaton Precious Metals Corp0.19%
TC Energy Corp0.19%
National Bank of Canada0.17%
Basf SE0.16%
Teva Pharmaceutical Industries Ltd0.14%
Ferrari NV0.14%
Franco-Nevada Corp0.14%
Celestica Inc0.14%
Sun Life Financial Inc0.13%
KB Financial Group Inc0.13%
Cenovus Energy Inc0.13%
Alimentation Couche-Tard Inc0.13%
Constellation Software Inc/Canada0.12%
Waste Connections Inc0.12%
Cameco Corp0.12%
Dollarama Inc0.11%
Hyundai Motor Co0.11%
Nutrien Ltd0.10%
STMicroelectronics NV0.10%
Power Corp of Canada0.10%
Lenovo Group Ltd0.10%
Shinhan Financial Group Co Ltd0.10%
Fairfax Financial Holdings Ltd0.10%
Teck Resources Ltd0.10%
Intact Financial Corp0.09%
Engie SA0.09%

Weight gaps

The 100 widest of 617 Holdings in both funds.

Holding weights in EFA and VEA, widest gap first
Holding	More in EFAMore in VEA	EFA	VEA
Asml Holding	EFA +0.72 points	2.86%	2.14%
Roche Ps Par AG	EFA +0.70 points	1.60%	0.90%
ShellSHEL.L	EFA +0.60 points	1.46%	0.86%
Astrazeneca PLCAZN.L	EFA +0.57 points	1.32%	0.75%
Novartis AG	EFA +0.57 points	1.39%	0.82%
Nestle SA	EFA +0.52 points	1.24%	0.72%
Sap	EFA +0.48 points	1.11%	0.63%
Lair Liquide Societe Anonyme Pour	EFA +0.47 points	0.59%	0.12%
Loreal SA	EFA +0.45 points	0.55%	0.10%
Commonwealth Bank of Australia	EFA +0.38 points	0.92%	0.54%
Totalenergies	EFA +0.33 points	0.86%	0.53%
Hsbc Holdings PLCHSBA.L	EFA +0.32 points	1.37%	1.05%
Allianz	EFA +0.32 points	0.87%	0.55%
Recruit Holdings Ltd	EFA +0.31 points	0.75%	0.44%
Mitsubishi Ufj Financial Group	EFA +0.31 points	1.09%	0.78%
Siemens N AG	EFA +0.30 points	1.00%	0.70%
Bhp Group Ltd	EFA +0.29 points	0.96%	0.67%
Toyota Motor	EFA +0.26 points	0.86%	0.60%
Unilever PLCULVR.L	EFA +0.27 points	0.66%	0.39%
Bp PLCBP.L	EFA +0.26 points	0.62%	0.36%
Advantest	EFA +0.26 points	0.76%	0.50%
Sony Group	EFA +0.25 points	0.68%	0.43%
Iberdrola	EFA +0.24 points	0.72%	0.48%
Ubs Group AG	EFA +0.23 points	0.69%	0.46%
British American TobaccoBATS.L	EFA +0.23 points	0.57%	0.34%
Novo Nordisk Class B	EFA +0.23 points	0.60%	0.37%
Zurich Insurance Group AG	EFA +0.21 points	0.52%	0.31%
Airbus Group	EFA +0.21 points	0.60%	0.39%
Sumitomo Mitsui Financial Group	EFA +0.21 points	0.70%	0.49%
Hitachi	EFA +0.20 points	0.67%	0.47%
Sanofi SA	EFA +0.18 points	0.45%	0.27%
Dbs Group Holdings Ltd	EFA +0.17 points	0.55%	0.38%
GlaxosmithklineGSK.L	EFA +0.17 points	0.47%	0.30%
Aia Group	EFA +0.17 points	0.47%	0.30%
Tokio Marine Holdings	EFA +0.17 points	0.46%	0.29%
Abb Ltd	EFA +0.17 points	0.62%	0.45%
National Australia Bank	EFA +0.16 points	0.42%	0.26%
Engie SA	EFA +0.17 points	0.22%	0.05%
Lvmh	EFA +0.16 points	0.50%	0.34%
Westpac Banking Corporation	EFA +0.15 points	0.41%	0.26%
Anz Group Holdings Ltd	EFA +0.15 points	0.40%	0.25%
Fast Retailing	EFA +0.16 points	0.41%	0.25%
National Grid PLCNG.L	EFA +0.15 points	0.39%	0.23%
Muenchener Rueckversicherungs-Gese	EFA +0.15 points	0.37%	0.22%
Compagnie Financiere Richemont SA	EFA +0.15 points	0.50%	0.35%
Relx PLCREL.L	EFA +0.15 points	0.33%	0.18%
Deutsche Telekom N AG	EFA +0.15 points	0.46%	0.31%
Bae Systems PLCBA.L	EFA +0.14 points	0.38%	0.23%
Rolls-Royce Holdings PLCRR.L	EFA +0.15 points	0.65%	0.50%
Mitsubishi	EFA +0.14 points	0.44%	0.30%
Keyence	EFA +0.14 points	0.44%	0.30%
Enel	EFA +0.14 points	0.37%	0.23%
Siemens Energy N AG	EFA +0.13 points	0.51%	0.38%
Takeda Pharmaceutical	EFA +0.14 points	0.32%	0.18%
Banco Santander	EFA +0.13 points	0.75%	0.62%
Essilorluxottica SA	EFA +0.13 points	0.28%	0.15%
Schneider Electric	EFA +0.13 points	0.68%	0.55%
Mizuho Financial Group	EFA +0.13 points	0.53%	0.40%
Csl	EFA +0.13 points	0.32%	0.19%
Banco Bilbao Vizcaya Argentaria	EFA +0.12 points	0.61%	0.49%
Investor Class B	EFA +0.12 points	0.35%	0.23%
Deutsche Boerse AG	EFA +0.12 points	0.30%	0.18%
Anheuser-Busch Inbev SA	EFA +0.12 points	0.34%	0.22%
Bnp Paribas SA	EFA +0.12 points	0.44%	0.32%
Macquarie Group Ltd Def	EFA +0.12 points	0.30%	0.18%
Tokyo Electron	EFA +0.12 points	0.63%	0.51%
Compass Group PLCCPG.L	EFA +0.11 points	0.27%	0.16%
Mitsui	EFA +0.11 points	0.35%	0.24%
Givaudan SA	EFA +0.11 points	0.21%	0.10%
Itochu	EFA +0.11 points	0.38%	0.27%
Industria De Diseno Textil SA	EFA +0.11 points	0.32%	0.21%
Ing Groep	EFA +0.10 points	0.42%	0.32%
Lonza Group AG	EFA +0.11 points	0.26%	0.15%
London Stock Exchange Group PLCLSEG.L	EFA +0.10 points	0.26%	0.16%
Swiss Re AG	EFA +0.11 points	0.26%	0.15%
Nintendo	EFA +0.11 points	0.27%	0.16%
Unicredit	EFA +0.11 points	0.52%	0.41%
Rio TintoRIO.L	EFA +0.11 points	0.41%	0.30%
Axa SA	EFA +0.11 points	0.35%	0.24%
Hoya	EFA +0.10 points	0.26%	0.16%
Eni	EFA +0.10 points	0.26%	0.16%
Wesfarmers	EFA +0.10 points	0.29%	0.18%
Oversea-Chinese Banking	EFA +0.10 points	0.35%	0.25%
Rheinmetall AG	EFA +0.10 points	0.25%	0.15%
Barclays PLCBARC.L	EFA +0.10 points	0.35%	0.25%
Dhl AG	EFA +0.10 points	0.28%	0.18%
Diageo PLCDGE.L	EFA +0.09 points	0.24%	0.15%
Genmab	EFA +0.09 points	0.16%	0.07%
Tesco PLCTSCO.L	EFA +0.09 points	0.21%	0.12%
Bayer AG	EFA +0.10 points	0.26%	0.16%
Safran SA	EFA +0.10 points	0.50%	0.40%
Ucb SA	EFA +0.09 points	0.18%	0.09%
E.on N	EFA +0.09 points	0.22%	0.13%
Galderma Group N AG	EFA +0.09 points	0.20%	0.11%
Sandoz Group AG	EFA +0.08 points	0.19%	0.11%
Japan Tobacco	EFA +0.09 points	0.24%	0.15%
Danone SA	EFA +0.09 points	0.22%	0.13%
Lloyds Banking Group PLCLLOY.L	EFA +0.08 points	0.34%	0.26%
Kddi	EFA +0.08 points	0.24%	0.16%
Vinci SA	EFA +0.09 points	0.27%	0.18%

All 656 EFA holdings⁠All 3,873 VEA 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.

EFA vs VEA Cost

Overpaying EFA vs VEA

$5,904

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

EFA 0.32%
$6,542
VEA 0.03%
$638

Amount$10,000

Years30 years

Cost over time

EFA 0.32%
VEA 0.03%
Overpaying

Year by year

Year	EFA	VEA	Overpaying
10	$580	$55	$525
20	$2,250	$216	$2,034
30	$6,542	$638	$5,904

Expense ratio

0.32%EFA
0.03%VEA, cheaper

VEA0.03%EFA0.32%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

VEA cheapest of 20 funds

EFA 17th cheapest of 20 funds

EFA vs VEA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EFA 3.25%, better; VEA 2.45%
Payout (12M): EFA $3.36; VEA $1.70
Last payment: EFA $1.64; VEA $0.18
Ex-dividend: EFA Jun 15, 2026; VEA Sep 18, 2026
Paid on: EFA Jun 18, 2026; VEA Sep 22, 2026
Frequency: EFA Twice a year; VEA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EFATwice a year · 20 paymentsAll EFA payments⁠

VEAQuarterly · 39 paymentsAll VEA payments⁠

EFA vs VEA Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: EFA 11.7%, betterVEA 12.9%
Return per unit of riskSharpe ratio, 3 years: EFA 1.20VEA 1.25, better
Worst fallMax drawdown, 5 years: EFA −29.2%, betterVEA −29.4%
Market sensitivityBeta, 5 years: EFA 0.78VEA 0.97; Market = 1

EFA and VEA in the news

All news⁠

ETF Filings
Transamerica files TAVI, a Great Lakes EAFE ETF, as a $4.27 billion fund changes sub-adviser
Sep 22, 2026EFAVEA
Deep Dive
Hedged Japan funds rose 0.7% as the yen fell; VGK dropped 1.8%
Sep 20, 2026EFAVEA
Deep Dive
Unhedged Japan rose 2.5% on the yen; Europe funds slipped
Sep 5, 2026EFAVEA
Best ETFs
Best international ETFs: one cheap fund, then the Korea choice
Updated Nov 2, 2026VEA
Top Movers
Brazil small-cap fund falls 37% in the week Lula won again
Oct 30, 2026EFA
Head-to-Head
IEFA vs. EFA: the cheaper fund is the one to hold
Oct 27, 2026EFA

Popular comparisons

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EFA vs VEA

In short

Stated mandate

Why people hold it