EFG vs TLTD: Grades, Fees and Holdings Compared

iShares MSCI EAFE Growth ETF

EFGBCboe

Northern Trust Morningstar Developed Markets ex-US Factor Tilt ETF

TLTDBNYSE Arca

Overlap

24.6%by weight

Expense ratio

EFG −0.05pt a year

EFG0.34%TLTD0.39%

Avg volume · 30D

EFG 150.7×the volume

EFG894KTLTD5.93K

10Y return · a year

TLTD +1.6pt

EFG+8.0%TLTD+9.6%

EFG vs TLTD Performance

Nov 2, 2021 – Nov 2, 2026

+15.8%EFG+60.9%TLTD

Expense ratio: EFG 0.34%, better; TLTD 0.39%
Fund size: EFG $15B; TLTD $661M
1Y total return: EFG +5.4%; TLTD +16.2%, better
Yield (12M): EFG 2.34%; TLTD 3.32%, better
Holdings: EFG 364; TLTD 2276
Avg volume (30D): EFG 894K sh, better; TLTD 5.93K sh
NAV per share: EFG $118.54; TLTD $100.18
52W range

ETF.net Grade

Pillar letters and Scores for EFG, TLTD, with each pillar’s weight
Pillar	EFG	TLTD
Cost30% weight	C50Higher	C43
Mission25% weight	A93	A100Higher
Risk15% weight	F24	C46Higher
Tradability15% weight	A91Higher	F24
Holdings10% weight	B63	A88Higher
Durability5% weight	A86Higher	B56

Rank among International Factor Index funds

How we build Categories ›

Same Category. EFG and TLTD 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 ›

EFG ranks 3rd and TLTD 6th 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 3BEFGiShares MSCI EAFE Growth ETFScore 66
Rank 3BIDLVInvesco S&P International Developed Low Volatility ETFScore 66
Rank 5BIDMOInvesco S&P International Developed Momentum ETFScore 61
Rank 6BTLTDNorthern Trust Morningstar Developed Markets ex-US Factor Tilt ETFScore 59
Rank 7BIMTMiShares MSCI Intl Momentum Factor ETFScore 58

Our read on each fund

ETF.net Research

EFGBiShares MSCI EAFE Growth ETF

TLTDBNorthern Trust Morningstar Developed Markets ex-US Factor Tilt ETF

In short

EFG MSCI splits the EAFE benchmark into a value half and a growth half. EFG is the growth half: roughly 400 companies across Europe, Australasia and the Far East, screened on earnings and sales growth, running since 2005.

TLTD Most international factor funds cut the market down to a few hundred names. TLTD keeps roughly 2,300 developed ex-US stocks and leans the weights toward small caps and value instead. A whole-market tilt, not a screen.

Stated mandate

EFG The fund seeks to track an index of developed-market equities outside the United States and Canada that exhibit growth characteristics.

TLTD The Fund seeks long-term capital appreciation through broad developed-markets equity exposure outside the United States, with an intentional tilt toward small-capitalization and value stocks.

Why people hold it

EFG MSCI ranks EAFE companies on five growth measures (forward and past EPS growth, internal growth rate, sales-per-share trend) and keeps the top scorers. No manager hunches.msci.com
0.34% a year, under the 0.41% median for international factor ETFs, on a mandate iShares has run since 2005.
A multi-billion-dollar fund that trades actively, and it has tracked its stated index closely.
Roughly 400 names spread across Europe, Australasia and the Far East, so the growth bet is a broad one.cboe.com

TLTD Owns the haystack: roughly 2,300 developed ex-US stocks, weights tilted toward small caps and value rather than screened down to a concentrated basket.flexshares.com
0.39% net of a waiver through March 1, 2027 (0.41% gross), near the median for its international factor peer group.
Trading since 2012 and one of the tighter index implementations in its peer group, staying close to the Morningstar Developed Markets ex-US Factor Tilt Index.
Pays quarterly, with a mandate built for long-term capital appreciation across developed markets outside the US.

Worth knowing

EFG The growth index is about half the parent EAFE index by free-float market value. The value half sits elsewhere, so this is one style, not all of developed international.cboe.com
Growth swings harder. Several peers in this cohort (EFAV, ACWV, QLVD) are engineered to damp volatility; EFG is not, and its risk profile is the choppier side of the group.
Holdings trade in yen, euros, pounds and other currencies, so moves in the dollar feed straight into what a US investor sees.ishares.com

TLTD Thinly traded next to headline developed-market funds, so bid-ask spreads can run wider and size takes patience.
Cheaper peers exist: EFAV at 0.20% and IDLV at 0.25%, neither leaning on a waiver, though both target low volatility rather than a small-and-value tilt.
That small and value lean means results can diverge from a plain cap-weighted developed-markets index in either direction.

Full EFG profile⁠

Full TLTD profile⁠

EFG vs TLTD Holdings

How EFG and TLTD differ

Overlap by weight

24.6%

Shared holdings make up 96.0% of EFG and 24.7% of TLTD.

Level by level

Holdings329 in both24.6%
Sector11 Sectors70.8%
Countryby domicile79.0%
Asset classEquity100%

Sector

Sector weights in EFG and TLTD, widest gap first
Sector	More in EFGMore in TLTD	EFG	TLTD
Financials	TLTD +13.7 points	12.1%	25.8%
Technology	EFG +11.7 points	19.0%	7.3%
Industrials	EFG +9.7 points	27.8%	18.1%
Health Care	EFG +7.8 points	14.0%	6.2%
Energy	TLTD +5.3 points	0.6%	5.8%
Materials	TLTD +4.6 points	5.9%	10.5%
Real Estate	TLTD +3.0 points	0.5%	3.5%
Utilities	TLTD +1.2 points	1.8%	3.0%
Consumer Staples	TLTD +1.0 points	4.2%	5.2%
Consumer Discretionary	TLTD +0.4 points	10.2%	10.6%
Communication	TLTD +0.1 points	4.0%	4.0%

Country, concentration and asset class

Country by domicile

Country weights in EFG and TLTD, widest gap first
Country	More in EFGMore in TLTD	EFG	TLTD
Canada	TLTD +10.7 points	0.0%	10.7%
Netherlands	EFG +5.0 points	8.5%	3.5%
Switzerland	EFG +4.2 points	9.7%	5.5%
Germany	EFG +2.9 points	9.2%	6.3%
Japan	TLTD +2.4 points	24.7%	27.1%
Sweden	EFG +2.1 points	5.4%	3.3%
France	EFG +1.8 points	9.1%	7.3%
Australia	EFG +1.7 points	7.0%	5.3%
Other countries (22)	TLTD +4.7 points	26.4%	31.1%

Outside the US: EFG 99% developed, 1% emerging. TLTD 97% developed, 3% emerging.

Concentration

Weight in the 10 largest Holdings

EFG21.3%
TLTD9.2%

Securities held

EFG347
TLTD2,258

Asset class

EFG: Equity
TLTD: Equity

Holdings

Only in EFG18
In both329
Only in TLTD1,929

Only in EFG

18 securities, 3.5% of EFG by weight

Spotify Technology0.83%
Glencore PLC0.62%
Teva Pharmaceutical Industries0.47%
Stmicroelectronics0.28%
Sea Ads Representing Ltd Class A0.26%
Coca Cola Europacific Partners PLC0.21%
Coca Cola Hbc AG0.12%
Check Point Software Technologies0.11%
Nebius NV Class A0.10%
Ryanair Holdings PLC0.10%
Xero0.07%
Yangzijiang Shipbuilding (Holdings0.06%
Grab Holdings Class A0.06%
Jeronimo Martins SA0.05%
Opc Energy Ltd0.05%
Millicom International Cellular0.05%
Futu Holdings Adr0.04%
Verisure PLC0.03%

Only in TLTD

1,929 securities, 73.1% of TLTD by weight

Msci Eafe Equity Index 18/DEC/2026 MFSZ6 Index1.38%
Shell PLC1.00%
Hsbc Holdings PLC Common Stock Gbp 0.50.94%
Toyota Motor Corp Common Stock Jpy0.65%
Totalenergies SE Common Stock Eur 2.50.64%
Allianz SE Common Stock Eur 00.60%
Royal Bank of Canada Common Stock Cad 00.52%
Sumitomo Mitsui Financial Group Inc Common Stock0.50%
Nestle SA Common Stock Chf 0.10.47%
Mitsubishi Ufj Financial Group Inc Common Stock0.46%
Banco Bilbao Vizcaya Argentaria SA Common Stock0.43%
British American Tobacco PLC Common Stock Gbp 250.42%
Bp PLC Common Stock Gbp 0.250.41%
Unicredit Spa Common Stock Eur 00.40%
Mizuho Financial Group Inc Common Stock Jpy0.39%
Toronto-Dominion Bank/The Common Stock0.38%
Bank of Nova Scotia/The Common Stock Cad 00.38%
Shopify Inc Common Stock Cad0.38%
Canadian Natural Resources Ltd Common Stock Cad 00.36%
Wpp PLC Common Stock Gbp 100.33%
Bnp Paribas SA Common Stock Eur 20.31%
Intesa Sanpaolo Spa Common Stock Eur 00.31%
Sanofi SA Common Stock Eur 20.31%
Suncor Energy Inc Common Stock Cad 00.30%
Ing Groep NV Common Stock Eur 0.010.30%
Iberdrola SA Common Stock Eur 0.750.28%
Man Group Plc/Jersey Common Stock Gbp 0.034285710.28%
Rio Tinto PLC Common Stock Gbp 100.28%
Adecco Group AG Common Stock Chf 0.10.27%
Teleperformance SE Common Stock Eur 2.50.27%
Unilever PLC Common Stock Gbp 0.0311110.25%
Axa SA Common Stock Eur 2.290.25%
Muenchener Rueckversicherungs-Gesellschaft AG In0.25%
Barclays PLC Common Stock Gbp 250.25%
Enel Spa Common Stock Eur 10.24%
Manulife Financial Corp Common Stock Cad 00.24%
Bank of Montreal Common Stock Cad 00.24%
Berkeley Group Holdings Plc/The Common Stock Gbp0.24%
Oversea-Chinese Banking Corp Ltd Common Stock Sgd0.24%
Torex Gold Resources Inc Common Stock Cad 00.23%
Centerra Gold Inc Common Stock Cad 00.22%
Taylor Wimpey PLC Common Stock Gbp 10.22%
Canadian Imperial Bank of Commerce Common Stock0.21%
Zurich Insurance Group AG Common Stock Chf 0.10.21%
Mitsubishi Corp Common Stock Jpy0.21%
Drax Group PLC Common Stock Gbp 11.551720.21%
Dhl AG Common Stock Eur 00.20%
Peyto Exploration & Development Corp Common Stock0.20%
Glencore PLC Common Stock Gbp 0.010.20%
Tui AG Common Stock Eur 00.20%

Weight gaps

The 100 widest of 329 Holdings in both funds.

Holding weights in EFG and TLTD, widest gap first
Holding	More in EFGMore in TLTD	EFG	TLTD
Asml Holding	EFG +4.67 points	5.82%	1.15%
Astrazeneca PLCAZN.L	EFG +2.13 points	2.68%	0.55%
Sap	EFG +1.83 points	2.27%	0.44%
Commonwealth Bank of Australia	EFG +1.51 points	1.87%	0.36%
Advantest	EFG +1.23 points	1.54%	0.31%
Recruit Holdings Ltd	EFG +1.22 points	1.53%	0.31%
Ubs Group AG	EFG +1.14 points	1.41%	0.27%
Schneider Electric	EFG +1.13 points	1.39%	0.26%
Sony Group	EFG +1.12 points	1.39%	0.27%
Hitachi	EFG +1.09 points	1.36%	0.27%
Rolls-Royce Holdings PLCRR.L	EFG +1.07 points	1.32%	0.25%
Tokyo Electron	EFG +1.03 points	1.28%	0.25%
Abb Ltd	EFG +1.03 points	1.27%	0.24%
Novo Nordisk Class B	EFG +0.99 points	1.22%	0.23%
Airbus Group	EFG +0.96 points	1.21%	0.25%
Compagnie Financiere Richemont SA	EFG +0.84 points	1.03%	0.19%
Siemens Energy N AG	EFG +0.83 points	1.04%	0.21%
Safran SA	EFG +0.81 points	1.01%	0.20%
Aia Group	EFG +0.78 points	0.96%	0.18%
Kioxia Holdings	EFG +0.78 points	0.94%	0.16%
Keyence	EFG +0.72 points	0.89%	0.17%
Fast Retailing	EFG +0.67 points	0.83%	0.16%
GlaxosmithklineGSK.L	EFG +0.62 points	0.95%	0.33%
Bae Systems PLCBA.L	EFG +0.62 points	0.77%	0.15%
Deutsche Telekom N AG	EFG +0.61 points	0.94%	0.33%
Infineon Technologies AG	EFG +0.56 points	0.70%	0.14%
Anheuser-Busch Inbev SA	EFG +0.56 points	0.69%	0.13%
Lair Liquide Societe Anonyme Pour	EFG +0.54 points	0.78%	0.24%
Relx PLCREL.L	EFG +0.53 points	0.67%	0.14%
Mitsubishi Heavy Industries	EFG +0.53 points	0.66%	0.13%
Roche Ps Par AG	EFG +0.53 points	1.15%	0.62%
Industria De Diseno Textil SA	EFG +0.52 points	0.65%	0.13%
Loreal SA	EFG +0.51 points	0.72%	0.21%
Dbs Group Holdings Ltd	EFG +0.51 points	0.73%	0.22%
Deutsche Boerse AG	EFG +0.49 points	0.62%	0.13%
Macquarie Group Ltd Def	EFG +0.49 points	0.62%	0.13%
Wesfarmers	EFG +0.47 points	0.58%	0.11%
Investor Class B	EFG +0.46 points	0.71%	0.25%
Itochu	EFG +0.45 points	0.78%	0.33%
Essilorluxottica SA	EFG +0.45 points	0.57%	0.12%
London Stock Exchange Group PLCLSEG.L	EFG +0.44 points	0.54%	0.10%
Hoya	EFG +0.43 points	0.53%	0.10%
Argenx	EFG +0.44 points	0.54%	0.10%
Nintendo	EFG +0.44 points	0.55%	0.11%
Compass Group PLCCPG.L	EFG +0.43 points	0.55%	0.12%
Lonza Group AG	EFG +0.42 points	0.52%	0.10%
Mitsubishi Electric	EFG +0.41 points	0.53%	0.12%
Rheinmetall AG	EFG +0.41 points	0.52%	0.11%
Anglo American PLCAAL.L	EFG +0.41 points	0.51%	0.10%
Novartis AG	EFG +0.40 points	0.99%	0.59%
Hermes International	EFG +0.39 points	0.47%	0.08%
Ferrari	EFG +0.38 points	0.46%	0.08%
Volvo Class B	EFG +0.36 points	0.47%	0.11%
Atlas Copco Class A	EFG +0.36 points	0.45%	0.09%
Prosus NV Class N	EFG +0.36 points	0.44%	0.08%
Vinci SA	EFG +0.35 points	0.54%	0.19%
Hong Kong Exchanges and Clearing	EFG +0.35 points	0.45%	0.10%
Tesco PLCTSCO.L	EFG +0.34 points	0.44%	0.10%
Galderma Group N AG	EFG +0.33 points	0.41%	0.08%
Holcim Ltd AG	EFG +0.34 points	0.41%	0.07%
Sandoz Group AG	EFG +0.33 points	0.40%	0.07%
Siemens N AG	EFG +0.32 points	0.71%	0.39%
Sse PLCSSE.L	EFG +0.31 points	0.40%	0.09%
Dsv	EFG +0.31 points	0.38%	0.07%
Rwe AG	EFG +0.30 points	0.39%	0.09%
Asm International NV	EFG +0.30 points	0.36%	0.06%
Fujitsu	EFG +0.30 points	0.37%	0.07%
Bhp Group Ltd	EFG +0.30 points	0.68%	0.38%
Ucb SA	EFG +0.30 points	0.36%	0.06%
Goodman Group Units	EFG +0.30 points	0.36%	0.06%
Assa Abloy B	EFG +0.29 points	0.37%	0.08%
Sandvik	EFG +0.29 points	0.36%	0.07%
Nec	EFG +0.28 points	0.36%	0.08%
Legrand SA	EFG +0.29 points	0.36%	0.07%
Fujikura	EFG +0.29 points	0.36%	0.07%
Experian PLCEXPN.L	EFG +0.28 points	0.34%	0.06%
Genmab	EFG +0.28 points	0.34%	0.06%
Prysmian	EFG +0.27 points	0.33%	0.06%
Woolworths Group	EFG +0.27 points	0.33%	0.06%
Tokio Marine Holdings	EFG +0.26 points	0.61%	0.35%
Shin Etsu Chemical	EFG +0.25 points	0.38%	0.13%
Sumitomo Electric Industries	EFG +0.23 points	0.30%	0.07%
Prudential PLCPRU.L	EFG +0.23 points	0.29%	0.06%
Tdk	EFG +0.23 points	0.29%	0.06%
Otsuka Holdings	EFG +0.22 points	0.30%	0.08%
Transurban Group Stapled Units	EFG +0.23 points	0.29%	0.06%
Chugai Pharmaceutical Ltd	EFG +0.22 points	0.28%	0.06%
Amadeus It Group	EFG +0.21 points	0.25%	0.04%
Resona Holdings	EFG +0.22 points	0.28%	0.06%
Adidas N AG	EFG +0.22 points	0.29%	0.07%
Daiichi Sankyo Ltd	EFG +0.21 points	0.28%	0.07%
Vestas Wind Systems	EFG +0.21 points	0.26%	0.05%
Givaudan SA	EFG +0.21 points	0.28%	0.07%
Disco Corp	EFG +0.20 points	0.26%	0.06%
Ferrovial NV	EFG +0.20 points	0.25%	0.05%
Ajinomoto	EFG +0.20 points	0.26%	0.06%
Techtronic Industries	EFG +0.20 points	0.24%	0.04%
Takeda Pharmaceutical	EFG +0.20 points	0.32%	0.12%
Adyen	EFG +0.20 points	0.24%	0.04%
Leonardo Finmeccanica Spa	EFG +0.19 points	0.23%	0.04%

All 348 EFG holdings⁠All 2,300 TLTD 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.

EFG vs TLTD Cost

Overpaying TLTD vs EFG

$966

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

EFG 0.34%
$6,932
TLTD 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

EFG 0.34%
TLTD 0.39%
Overpaying

Year by year

Year	EFG	TLTD	Overpaying
10	$616	$705	$89
20	$2,386	$2,725	$339
30	$6,932	$7,898	$966

Expense ratio

0.34%EFG, cheaper
0.39%TLTD

EFG0.34%TLTD0.39%

0.08%0.65%

Middle half of International Factor Index funds
Median 0.34%

EFG 8th cheapest of 15 funds

TLTD 9th cheapest of 15 funds

EFG vs TLTD Dividends

Last 12 months to Nov 2, 2026

Yield (12M): EFG 2.34%; TLTD 3.32%, better
Payout (12M): EFG $2.79; TLTD $3.32
Last payment: EFG $0.98; TLTD $0.42
Ex-dividend: EFG Jun 15, 2026; TLTD Sep 18, 2026
Paid on: EFG Jun 18, 2026; TLTD Sep 24, 2026
Frequency: EFG Twice a year; TLTD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EFGTwice a year · 20 paymentsAll EFG payments⁠

TLTDQuarterly · 39 paymentsAll TLTD payments⁠

EFG vs TLTD Risk

Fall from peak · 5 years

EFG
TLTD

Risk facts

VolatilityStd dev, 3 years: EFG 13.8%TLTD 12.1%, better
Return per unit of riskSharpe ratio, 3 years: EFG 0.71TLTD 1.37, better
Worst fallMax drawdown, 5 years: EFG −35.5%TLTD −28.4%, better
Market sensitivityBeta, 5 years: EFG 0.96TLTD 0.93; Market = 1

EFG and TLTD in the news

All news⁠

New ETFs
Healthcare is 31% of Invesco's new QQI fund
Oct 5, 2026EFG

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EFG vs TLTD

In short

Stated mandate

Why people hold it

Worth knowing

How EFG and TLTD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in EFG

Only in TLTD

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Healthcare is 31% of Invesco's new QQI fund

How EFG and TLTD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in EFG

Only in TLTD

Weight gaps