IDEV vs PXF: Grades, Fees and Holdings Compared

iShares Core MSCI International Developed Markets ETF

IDEVANYSE Arca

Invesco RAFI Developed Markets ex-U.S. ETF

PXFCNYSE Arca

Overlap

55.7%by weight

Expense ratio

IDEV −0.39pt a year

IDEV0.04%PXF0.43%

Avg volume · 30D

IDEV 16.4×the volume

IDEV1.87MPXF114K

5Y return · a year

PXF +5.0pt

IDEV+8.6%PXF+13.6%

IDEV vs PXF Performance

Nov 9, 2021 – Nov 9, 2026

+51.0%IDEV+89.5%PXF

Expense ratio: IDEV 0.04%, better; PXF 0.43%
Fund size: IDEV $33.4B; PXF $2.94B
1Y total return: IDEV +16.4%; PXF +27.1%, better
Yield (12M): IDEV 3.18%; PXF 3.25%, better
Holdings: IDEV 2327; PXF 1032
Avg volume (30D): IDEV 1.87M sh, better; PXF 114K sh
NAV per share: IDEV $87.83; PXF $74.63
52W range

ETF.net Grade

Pillar letters and Scores for IDEV, PXF, with each pillar’s weight
Pillar	IDEV	PXF
Cost30% weight	A90Higher	F5
Mission25% weight	A100	A100
Risk15% weight	C51	B61Higher
Tradability15% weight	A70Higher	C43
Holdings10% weight	A92Higher	A77
Durability5% weight	B61Higher	B55

Rank among Developed International Core funds

How we build Categories ›

Same Category. IDEV and PXF 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 ›

IDEV ranks 1st and PXF 16th of 20 funds in the Developed International Core Category.

Rank 1AIDEViShares Core MSCI International Developed Markets ETFScore 82
Rank 2ASPDWState Street SPDR Portfolio Developed World ex-US ETFScore 81
Rank 15CGSIDGoldman Sachs MarketBeta International Equity ETFScore 53
Rank 16CPXFInvesco RAFI Developed Markets ex-U.S. ETFScore 52
Rank 17CTOKiShares MSCI Kokusai ETFScore 46

Our read on each fund

ETF.net Research

IDEVAiShares Core MSCI International Developed Markets ETF

PXFCInvesco RAFI Developed Markets ex-U.S. ETF

In short

IDEV One ticker for the developed world outside America, top to bottom: roughly 2,300 large, mid and small caps for four basis points. iShares built this as a Core building block and priced it like one.

PXF Most developed-market index funds size a company by its stock price. PXF uses the RAFI method instead, weighting roughly 1,000 non-US names by fundamental measures of the business, which pulls the portfolio toward value.

Stated mandate

IDEV The fund seeks to track an index of large-, mid-, and small-cap equities from developed markets outside the United States.

PXF The Fund seeks to track the investment results of its underlying index before fees and expenses, primarily by investing in securities that make up that index.

Why people hold it

IDEV Charges 0.04% a year while the typical developed-markets core fund charges 0.18%. That is roughly a fifth of the usual freight.
Goes all-cap, not just blue chips: roughly 2,300 large, mid and small companies from developed markets outside the US, so the small end is not left on the cutting room floor.ishares.com
A plain index wrapper on the MSCI World ex USA IMI Index. No tilts, no manager discretion, and it has run that same mandate since 2017.
Multi-billion-dollar fund that trades actively, and one of the stronger implementations in a crowded developed-markets core group.

PXF The RAFI screen sizes holdings by fundamental measures of the business rather than share price, so a stock does not get a bigger slot just for going up.invesco.com
Roughly 1,000 companies across developed markets outside the US, wide enough that no single name carries the fund.
Live since 2007 and now a multibillion-dollar fund: the long-standing fundamental-weighted option in a category otherwise built on market cap.
Straight index tracking with no manager discretion, and it has hugged the FTSE RAFI Developed ex US 1000 Index it is built to follow. Pays quarterly.

Worth knowing

IDEV VEA, SPDW and SCHF each run a basis point cheaper. Pennies on most balances, but IDEV is not the absolute cost floor of the group.
Distributions come annually or semiannually rather than monthly, so cash arrives in lumps.
Every holding is priced in a foreign currency, so moves in the dollar show up in your returns alongside the stocks themselves.

PXF 0.43% a year against 0.03% at cap-weighted peers like VEA, SPDW and SCHF. The fundamental weighting comes with a real price tag.
Volume is moderate next to the category giants, so spreads and limit orders matter more on large or hurried trades.
A value tilt is a deliberate departure from the market, and it can trail cap-weighted developed funds for long stretches when the biggest growth names lead.

Full IDEV profile⁠

Full PXF profile⁠

IDEV vs PXF Holdings

How IDEV and PXF differ

Overlap by weight

55.7%

Shared holdings make up 77.6% of PXF and 70.9% of IDEV.

Level by level

Holdings780 in both55.7%
Countryby domicile87.0%
Sector11 Sectors90.5%
Asset classStocks100%

Sector

Sector weights in IDEV and PXF, widest gap first
Sector	Gap	IDEV	PXF
Energy	PXF +5.4 points	5.6%	11.0%
Financials	IDEV +4.4 points	25.3%	20.9%
Industrials	IDEV +3.0 points	17.6%	14.6%
Consumer Discretionary	PXF +1.9 points	7.9%	9.8%
Health Care	IDEV +1.1 points	9.5%	8.4%
Materials	PXF +1.2 points	7.7%	8.9%
Real Estate	IDEV +0.9 points	2.6%	1.7%
Consumer Staples	PXF +0.7 points	6.5%	7.2%
Communication	PXF +0.2 points	4.2%	4.4%
Technology	IDEV +0.1 points	9.7%	9.6%
Utilities	Same weight	3.5%	3.5%

Country, concentration and asset class

Country by domicile

Country weights in IDEV and PXF, widest gap first
Country	Gap	IDEV	PXF
South Korea	PXF +6.7 points	0.0%	6.7%
Canada	IDEV +3.5 points	12.7%	9.2%
Switzerland	IDEV +1.7 points	8.3%	6.6%
Australia	IDEV +1.7 points	6.6%	4.9%
Netherlands	IDEV +1.5 points	4.3%	2.8%
Sweden	IDEV +1.2 points	3.4%	2.2%
United States	PXF +1.2 points	0.0%	1.2%
Norway	PXF +0.9 points	0.0%	0.9%
Other countries (19)	PXF +0.8 points	64.7%	65.5%

Outside the US: IDEV 99% developed, 1% emerging. PXF 92% developed, 8% emerging.

Concentration

Weight in the 10 largest Holdings

IDEV10.9%
PXF13.6%

Securities held

IDEV2,308
PXF1,017

Asset class

IDEV: Stocks
PXF: Stocks

Holdings

Only in IDEV1,528
In both780
Only in PXF237

Only in IDEV

1,528 securities, 28.5% of IDEV by weight

Astrazeneca PLC1.00%
Royal Bank of Canada0.99%
Toronto Dominion0.72%
Shopify Subordinate Voting Class A0.64%
Totalenergies0.61%
Bank of Montreal0.42%
Bank of Nova Scotia0.40%
Canadian Imperial Bank of Commerce0.37%
Canadian Natural Resources Ltd0.36%
Enbridge0.36%
Agnico Eagle Mines0.34%
Intesa Sanpaolo0.34%
Suncor Energy Inc0.29%
Brookfield Class A0.29%
Canadian Pacific Kansas City0.29%
Investor Class B0.27%
Manulife Financial0.25%
Barrick Mining0.24%
Tc Energy0.23%
Canadian National Railway0.23%
Deutsche Bank AG0.22%
Wheaton Precious Metals0.22%
National Bank of Canada0.21%
Argenx0.20%
Ferrari0.18%
Constellation Software0.17%
Franco Nevada0.17%
Givaudan SA0.16%
Dollarama0.15%
Alimentation Couche Tard Inc0.15%
Sun Life Financial Inc0.14%
Cenovus Energy0.13%
Fairfax Financial Holdings Sub Vot0.13%
Alcon AG0.13%
Power Corporation of Canada0.12%
Nutrien Ltd0.12%
Intact Financial Corp0.12%
Mercedes-Benz Group N AG0.11%
Cameco0.11%
Fortis0.10%
Loblaw Companies Ltd0.10%
Teck Resources Subordinate Voting0.10%
Stmicroelectronics0.10%
Sumitomo Mitsui Trust Group0.10%
Pembina Pipeline0.10%
Nebius NV Class A0.09%
Kinross Gold0.09%
Intercontinental Hotels Group PLC0.09%
Celestica0.09%
Boc Hong Kong Holdings Ltd0.09%

Only in PXF

237 securities, 22.0% of PXF by weight

Samsung Electronics Co Ltd2.63%
TotalEnergies SE1.53%
AstraZeneca PLC0.61%
Royal Bank of Canada0.57%
Mercedes-Benz Group AG0.57%
Toronto-Dominion Bank/The0.56%
Suncor Energy Inc0.47%
Canadian Natural Resources Ltd0.44%
Bank of Nova Scotia/The0.43%
Enbridge Inc0.39%
SK hynix Inc0.36%
Stellantis NV0.34%
Bank of Montreal0.32%
Intesa Sanpaolo SpA0.30%
Nutrien Ltd0.30%
Canadian Imperial Bank of Commerce0.26%
Cenovus Energy Inc0.25%
Hyundai Motor Co0.25%
Manulife Financial Corp0.24%
Alimentation Couche-Tard Inc0.24%
Deutsche Bank AG0.24%
POSCO Holdings Inc0.22%
Brookfield Corp0.19%
Magna International Inc0.19%
Canadian National Railway Co0.18%
TC Energy Corp0.18%
LG Electronics Inc0.17%
Barrick Mining Corp0.17%
Canadian Pacific Kansas City Ltd0.17%
Kia Corp0.16%
KB Financial Group Inc0.16%
NXP Semiconductors NV0.15%
Shinhan Financial Group Co Ltd0.15%
CK Hutchison Holdings Ltd0.15%
Fairfax Financial Holdings Ltd0.14%
Orlen SA0.14%
Teck Resources Ltd0.13%
Sun Life Financial Inc0.13%
STMicroelectronics NV0.13%
Hyundai Mobis Co Ltd0.13%
SK Inc0.12%
Alcon AG0.12%
National Bank of Canada0.12%
Hana Financial Group Inc0.12%
Medtronic PLC0.12%
Pembina Pipeline Corp0.11%
Power Corp of Canada0.11%
Agnico Eagle Mines Ltd0.11%
Fortis Inc/Canada0.10%
LG Chem Ltd0.10%

Weight gaps

The 100 widest of 780 Holdings in both funds.

Holding weights in IDEV and PXF, widest gap first
Holding	Gap	IDEV	PXF
Asml Holding	IDEV +1.67 points	1.98%	0.31%
ShellSHEL.L	PXF +1.41 points	1.02%	2.43%
Bp PLCBP.L	PXF +0.53 points	0.42%	0.95%
Rolls-Royce Holdings PLCRR.L	IDEV +0.46 points	0.50%	0.04%
Glencore PLCGLEN.L	PXF +0.46 points	0.22%	0.68%
Toyota Motor	PXF +0.44 points	0.71%	1.15%
Bayer AG	PXF +0.42 points	0.22%	0.64%
Advantest	IDEV +0.41 points	0.46%	0.05%
Basf N	PXF +0.39 points	0.19%	0.58%
Honda Motor	PXF +0.36 points	0.15%	0.51%
Sap	IDEV +0.35 points	0.85%	0.50%
Sanofi SA	PXF +0.35 points	0.36%	0.71%
Vodafone Group PLCVOD.L	PXF +0.32 points	0.10%	0.42%
Volkswagen Non-Voting Pref AG	PXF +0.32 points	0.05%	0.37%
Commonwealth Bank of Australia	IDEV +0.32 points	0.69%	0.37%
Equinor	PXF +0.31 points	0.10%	0.41%
Safran SA	IDEV +0.30 points	0.40%	0.10%
Siemens Energy N AG	IDEV +0.29 points	0.36%	0.07%
A P Moller Maersk B	PXF +0.30 points	0.04%	0.34%
Bmw	PXF +0.29 points	0.08%	0.37%
Airbus Group	IDEV +0.28 points	0.46%	0.18%
Abb Ltd	IDEV +0.27 points	0.45%	0.18%
Spotify TechnologySPOT	IDEV +0.27 points	0.32%	0.05%
Eni	PXF +0.27 points	0.18%	0.45%
Takeda Pharmaceutical	PXF +0.26 points	0.24%	0.50%
Mitsubishi Ufj Financial Group	IDEV +0.26 points	0.78%	0.52%
Repsol	PXF +0.26 points	0.13%	0.39%
Schneider Electric	IDEV +0.25 points	0.50%	0.25%
Novartis AG	IDEV +0.25 points	1.06%	0.81%
Fast Retailing	IDEV +0.24 points	0.33%	0.09%
Tokyo Electron	IDEV +0.22 points	0.41%	0.19%
Compagnie Financiere Richemont SA	IDEV +0.21 points	0.39%	0.18%
British American TobaccoBATS.L	PXF +0.21 points	0.44%	0.65%
Kioxia Holdings	IDEV +0.20 points	0.22%	0.02%
Rio TintoRIO.L	PXF +0.20 points	0.32%	0.52%
Bnp Paribas SA	PXF +0.20 points	0.36%	0.56%
Keyence	IDEV +0.20 points	0.30%	0.10%
Bhp Group Ltd	PXF +0.19 points	0.72%	0.91%
Recruit Holdings	IDEV +0.20 points	0.51%	0.31%
Koninklijke Ahold Delhaize	PXF +0.19 points	0.12%	0.31%
Panasonic Holdings	PXF +0.19 points	0.16%	0.35%
Siemens N AG	IDEV +0.18 points	0.76%	0.58%
Novo Nordisk Class B	IDEV +0.18 points	0.46%	0.28%
Iberdrola	IDEV +0.18 points	0.56%	0.38%
Tesco PLCTSCO.L	PXF +0.17 points	0.17%	0.34%
Mitsubishi	PXF +0.18 points	0.34%	0.52%
Ubs Group AG	IDEV +0.17 points	0.54%	0.37%
Lair Liquide Societe Anonyme Pour	IDEV +0.17 points	0.47%	0.30%
Nippon Steel	PXF +0.16 points	0.07%	0.23%
Dbs Group Holdings Ltd	IDEV +0.16 points	0.40%	0.24%
Deutsche Telekom N AG	PXF +0.16 points	0.35%	0.51%
Dhl AG	PXF +0.16 points	0.21%	0.37%
Ntt	PXF +0.15 points	0.11%	0.26%
Loreal SA	IDEV +0.15 points	0.42%	0.27%
Arcelormittal SA	PXF +0.15 points	0.09%	0.24%
Hermes International	IDEV +0.14 points	0.18%	0.04%
Nestle SA	IDEV +0.15 points	0.96%	0.81%
Deutsche Boerse AG	IDEV +0.13 points	0.23%	0.10%
Relx PLCREL.L	IDEV +0.13 points	0.25%	0.12%
Galderma Group N AG	IDEV +0.13 points	0.15%	0.02%
Rheinmetall AG	IDEV +0.12 points	0.15%	0.03%
Industria De Diseno Textil SA	IDEV +0.13 points	0.26%	0.13%
Softbank Group Corp	IDEV +0.12 points	0.30%	0.18%
Telefonica SA	PXF +0.12 points	0.05%	0.17%
Barclays PLCBARC.L	PXF +0.12 points	0.27%	0.39%
Nippon Yusen	PXF +0.12 points	0.06%	0.18%
Renault SA	PXF +0.12 points	0.02%	0.14%
Mitsubishi Heavy Industries	IDEV +0.12 points	0.21%	0.09%
Allianz	IDEV +0.12 points	0.68%	0.56%
Prosus NV Class N	IDEV +0.11 points	0.18%	0.07%
Hoya	IDEV +0.11 points	0.17%	0.06%
Carrefour SA	PXF +0.11 points	0.03%	0.14%
Suzuki Motor	PXF +0.11 points	0.08%	0.19%
Michelin	PXF +0.10 points	0.09%	0.19%
Mitsui	PXF +0.11 points	0.25%	0.36%
Seven & I Holdings	PXF +0.10 points	0.10%	0.20%
Lonza Group AG	IDEV +0.11 points	0.20%	0.09%
Orange SA	PXF +0.10 points	0.11%	0.21%
Bridgestone	PXF +0.11 points	0.10%	0.21%
Hitachi	IDEV +0.10 points	0.45%	0.35%
Hong Kong Exchanges and Clearing	IDEV +0.11 points	0.15%	0.04%
Bt Group PLC	PXF +0.10 points	0.06%	0.16%
Fujifilm Holdings	PXF +0.10 points	0.08%	0.18%
Woodside Energy Group Ltd	PXF +0.10 points	0.14%	0.24%
Itochu	PXF +0.10 points	0.29%	0.39%
Bae Systems PLCBA.L	IDEV +0.10 points	0.26%	0.16%
Canon	PXF +0.10 points	0.08%	0.18%
Kddi	PXF +0.10 points	0.19%	0.29%
Infineon Technologies AG	IDEV +0.10 points	0.24%	0.14%
Societe Generale SA	PXF +0.09 points	0.17%	0.26%
Asm International NV	IDEV +0.09 points	0.12%	0.03%
Lvmh	IDEV +0.10 points	0.40%	0.30%
Mizuho Financial Group	IDEV +0.09 points	0.38%	0.29%
Zim Integrated Shipping Services LZIM	PXF +0.09 points	0.01%	0.10%
Goodman Group Units	IDEV +0.09 points	0.13%	0.04%
Nissan Motor	PXF +0.10 points	0.01%	0.10%
Denso	PXF +0.09 points	0.07%	0.16%
Henkel & Kgaa Pref AG	PXF +0.09 points	0.05%	0.14%
Hsbc Holdings PLCHSBA.L	PXF +0.09 points	1.06%	1.15%
Ferrovial NV	IDEV +0.08 points	0.10%	0.01%

All 2,311 IDEV holdings⁠All 1,020 PXF 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.

IDEV vs PXF Cost

Overpaying PXF vs IDEV

$7,813

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

IDEV 0.04%
$849
PXF 0.43%
$8,662

Amount$10,000

Years30 years

Cost over time

IDEV 0.04%
PXF 0.43%
Overpaying

Year by year

Year	IDEV	PXF	Overpaying
10	$73	$776	$703
20	$288	$2,994	$2,706
30	$849	$8,662	$7,813

Expense ratio

0.04%IDEV, cheaper
0.43%PXF

IDEV0.04%PXF0.43%

0.03%0.70%

Middle half of Developed International Core funds
Median 0.10%

IDEV 4th cheapest of 20 funds

PXF 19th cheapest of 20 funds

IDEV vs PXF Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IDEV 3.18%; PXF 3.25%, better
Payout (12M): IDEV $2.87; PXF $2.49
Last payment: IDEV $1.34; PXF $0.55
Ex-dividend: IDEV Jun 15, 2026; PXF Sep 21, 2026
Paid on: IDEV Jun 18, 2026; PXF Sep 25, 2026
Frequency: IDEV Twice a year; PXF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IDEVTwice a year · 20 paymentsAll IDEV payments⁠

PXFQuarterly · 39 paymentsAll PXF payments⁠

IDEV vs PXF Risk

Fall from peak · 5 years

IDEV
PXF

Risk facts

VolatilityStd dev, 3 years: IDEV 11.8%, betterPXF 12.6%
Return per unit of riskSharpe ratio, 3 years: IDEV 1.26PXF 1.57, better
Worst fallMax drawdown, 5 years: IDEV −29.0%PXF −26.8%, better
Market sensitivityBeta, 5 years: IDEV 0.81PXF 0.92; Market = 1

IDEV and PXF in the news

All news⁠

Best ETFs
Best international ETFs: one cheap fund, then the Korea choice
Updated Nov 2, 2026IDEV
Best ETFs
Vanguard's total international fund is the one-fund pick, and Korea splits the rest
Updated Oct 2, 2026IDEV

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IDEV vs PXF

In short

Stated mandate

Why people hold it

Worth knowing

How IDEV and PXF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IDEV

Only in PXF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best international ETFs: one cheap fund, then the Korea choice

Vanguard's total international fund is the one-fund pick, and Korea splits the rest

How IDEV and PXF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IDEV

Only in PXF

Weight gaps