IVAL alternatives and similar ETFs

IVAL alternatives at a glance#

Each fund below can stand in for IVAL, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How IVAL and its alternatives did over the same dates#

Each row measures the alternative and IVAL on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each IVAL alternative, compared#

EFV: iShares MSCI EAFE Value ETF#

EFV also holds stocks outside the US that look cheap compared with their earnings and assets. It tracks the MSCI EAFE Value Index (Net), while IVAL tracks no index (its managers pick what it holds).

It charges 0.31% a year, about $31 on $10,000, against $38 for IVAL. It held 395 stocks, against 50 for IVAL.

From December 2014 to October 2026, EFV returned about 8.0% a year and IVAL returned about 6.7% a year. Over about the last five years they moved together on most days (correlation 0.90).

Read the EFV fund page for its returns by year and worst drop.

VEA: Vanguard FTSE Developed Markets ETF#

VEA is a looser match. It holds stocks in developed countries outside the US, such as Japan, the UK and Europe, while IVAL holds stocks outside the US that look cheap compared with their earnings and assets.

It charges 0.03% a year, about $3 on $10,000, against $38 for IVAL. It held 3,903 stocks, against 50 for IVAL.

From December 2014 to October 2026, VEA returned about 8.4% a year and IVAL returned about 6.7% a year. Over about the last five years they moved together on most days (correlation 0.88).

Read the VEA fund page for its returns by year and worst drop.

IEFA: iShares Core MSCI EAFE ETF#

IEFA is a looser match. It holds stocks in developed countries outside the US, such as Japan, the UK and Europe, while IVAL holds stocks outside the US that look cheap compared with their earnings and assets.

It charges 0.07% a year, about $7 on $10,000, against $38 for IVAL. It held 2,626 stocks, against 50 for IVAL.

From December 2014 to October 2026, IEFA returned about 8.0% a year and IVAL returned about 6.7% a year. Over about the last five years they moved together on most days (correlation 0.88).

Read the IEFA fund page for its returns by year and worst drop.

EFA: iShares MSCI EAFE ETF#

EFA is a looser match. It holds stocks in developed countries outside the US, such as Japan, the UK and Europe, while IVAL holds stocks outside the US that look cheap compared with their earnings and assets.

It charges 0.32% a year, about $32 on $10,000, against $38 for IVAL. It held 657 stocks, against 50 for IVAL.

From December 2014 to October 2026, EFA returned about 7.7% a year and IVAL returned about 6.7% a year. Over about the last five years they moved together on most days (correlation 0.88).

Read the EFA fund page for its returns by year and worst drop.

SCHF: Schwab International Equity ETF#

SCHF is a looser match. It holds stocks in developed countries outside the US, such as Japan, the UK and Europe, while IVAL holds stocks outside the US that look cheap compared with their earnings and assets.

It charges 0.03% a year, about $3 on $10,000, against $38 for IVAL. It held 1,480 stocks, against 50 for IVAL.

From December 2014 to October 2026, SCHF returned about 8.3% a year and IVAL returned about 6.7% a year. Over about the last five years they moved together on most days (correlation 0.87).

Read the SCHF fund page for its returns by year and worst drop.

IVAL versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to IVAL from each other company on this page:

• iShares (BlackRock): EFV, iShares MSCI EAFE Value ETF (same kind of fund, 0.31% a year)
• Vanguard: VEA, Vanguard FTSE Developed Markets ETF (related fund, 0.03% a year)
• Schwab: SCHF, Schwab International Equity ETF (related fund, 0.03% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between IVAL and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, IVAL costs about $38 a year. VEA costs about $3.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping IVAL to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as EFV, VEA or IEFA, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test IVAL and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add IVAL and EFV, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as IVAL. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like IVAL over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with IVAL only on days both traded. Read what a backtest simulates for more on these measures.