# IEFA ETF: fees, returns, drawdowns and holdings

> What IEFA holds, its 0.07% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

iShares Core MSCI EAFE ETF (IEFA) is an exchange-traded fund (ETF) run by iShares (BlackRock). This fund owns thousands of large, medium and small companies in developed countries outside the US and Canada. It charges 0.07% a year. From October 2012 to October 2026 it returned about 8.3% a year, and its worst drop was −34.8%.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026.

## Key points

- Expense ratio: 0.07% a year (about $7 on $10,000).
- Started trading on October 18, 2012.
- Worst drop since 2012: −34.8%.
- No Tactfolio classic strategies hold it.

## What does IEFA hold?

This fund owns thousands of large, medium and small companies in developed countries outside the US and Canada. Japan, the UK and much of Europe are big parts of it. Changes in foreign currency values can also move what it is worth in US dollars.

It tracks the MSCI EAFE IMI Index (Net). It had 2,626 holdings as of October 15, 2026, according to iShares (BlackRock).

| Fact | IEFA |
| --- | --- |
| Full name | iShares Core MSCI EAFE ETF |
| Issuer | iShares (BlackRock) |
| Expense ratio | 0.07% a year |
| Started trading | October 18, 2012 |
| Tracks | MSCI EAFE IMI Index (Net) |
| Type | International stocks, ETF |
| Holdings | 2,626 holdings as of October 15, 2026 |
| Facts checked | October 17, 2026 on the [iShares (BlackRock) fund page](https://www.ishares.com/us/products/244049/ishares-core-msci-eafe-etf) |

## What is the IEFA expense ratio?

IEFA charges 0.07% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.07% fee comes to about $7 a year.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## How has IEFA done since 2012?

From October 2012 to October 2026, IEFA returned about 8.3% a year. Say you put in $10,000 at the start. It would have been worth about $30,322 at the end, with every dividend reinvested.

| Measure | IEFA |
| --- | --- |
| Total return | 203.2% |
| Return per year (CAGR) | 8.3% |
| Worst drop from a high | −34.8% |
| Volatility (how much it swings) | 16.6% |
| Last 12 months | 13.6% |
| Last 3 years, per year | 18.4% |
| Last 5 years, per year | 8.4% |
| Last 10 years, per year | 9.3% |

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.

## IEFA returns by year

| Year | IEFA return |
| --- | --- |
| 2026 (part of the year) | 9.7% |
| 2025 | 32.1% |
| 2024 | 3.3% |
| 2023 | 17.9% |
| 2022 | −15.2% |
| 2021 | 11.6% |
| 2020 | 8.2% |
| 2019 | 22.6% |
| 2018 | −14.1% |
| 2017 | 26.6% |
| 2016 | 1.6% |
| 2015 | 0.7% |
| 2014 | −6.3% |
| 2013 | 22.5% |
| 2012 (part of the year) | 7.3% |

## What was IEFA's worst drop?

A drawdown is how far a fund falls from its last high point. IEFA's worst fall was −34.8%, from January 26, 2018 to March 23, 2020. It got back to that high on November 16, 2020.

The chart shows how far below its last high the fund was on each day. Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## Which Tactfolio strategies hold IEFA?

No classic strategy holds IEFA yet. You can add it to your own rules in the [builder](https://tactfolio.com/builder) and see how they would have done.

## How does IEFA compare with similar ETFs?

Funds that can stand in for IEFA:

- [SCHF](https://tactfolio.com/etf/schf.md): Schwab International Equity ETF, 0.03% a year
- [VEA](https://tactfolio.com/etf/vea.md): Vanguard FTSE Developed Markets ETF, 0.03% a year
- [EFA](https://tactfolio.com/etf/efa.md): iShares MSCI EAFE ETF, 0.32% a year
- [VEU](https://tactfolio.com/etf/veu.md): Vanguard FTSE All-World ex-US ETF, 0.04% a year

See [all 8 IEFA alternatives](https://tactfolio.com/alternatives/iefa.md), compared on the same dates as IEFA.

## Test IEFA in your own rules

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](https://tactfolio.com/builder), add IEFA, and see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for IEFA. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns.

Fund facts come from iShares (BlackRock). We checked them on October 17, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.md) for more on these measures.

## Research and test it

- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [Momentum strategy](https://tactfolio.com/learn/momentum-strategy): A momentum strategy buys recent winners by a written rule.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What is the expense ratio of IEFA?

IEFA charges 0.07% a year, according to iShares (BlackRock) as of October 17, 2026. That is about $7 a year for every $10,000 you hold.

### When did IEFA start trading?

IEFA started trading on October 18, 2012. It is run by iShares (BlackRock).

### What does IEFA track?

IEFA tracks the MSCI EAFE IMI Index (Net). This fund owns thousands of large, medium and small companies in developed countries outside the US and Canada.

### How much has IEFA returned per year?

From October 2012 to October 2026, IEFA returned about 8.3% a year with dividends reinvested. Its worst drop was −34.8%. Past returns do not tell you what it will do next.

### Which strategies use IEFA?

None of Tactfolio's classic strategies hold IEFA yet. You can test it in your own rules in the builder.

## Sources

- [iShares (BlackRock): iShares Core MSCI EAFE ETF fund page](https://www.ishares.com/us/products/244049/ishares-core-msci-eafe-etf)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.