EFA vs FENI
iShares MSCI EAFE ETF vs Fidelity Enhanced International ETF
Which is better, EFA or FENI?
Nearly the same fund. FENI costs less.
FENI has a lower expense ratio. FENI led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99. EFA is less concentrated, with 14.1% of the fund in its ten largest positions against 15.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EFA | FENI |
|---|---|---|
| Expense Ratio | 0.32% | 0.28%Best |
| AUM | $76.7B | $11.5B |
| Dividend Yield | 3.24% | 3.05% |
| Holdings | 682 | 883 |
| YTD Return | +7.56% | +8.98%Best |
| 1Y Return | +13.78% | +15.83%Best |
| 3Y Return (annualized) | +17.91% | +20.24%Best |
| 5Y Return (annualized) | +8.68% | - |
| Volatility (annualized) | 11.2%Best | 11.6% |
| Max Drawdown | -14.1%Best | -14.2% |
| $10,000 over 2.9 years | $15,654 | $17,066Best |
| Top 10 Weight | 14.1%Best | 15.8% |
| Fund Family | iShares by BlackRock (US) | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 14, 2001 | Nov 20, 2023 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 20, 2023 to Oct 14, 2026 (2.9 years).
EFA vs FENI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.9 years both funds cover.
EFA vs FENI Performance
iShares MSCI EAFE ETF (EFA) is an ETF from iShares by BlackRock (US) and Fidelity Enhanced International ETF (FENI) is an ETF from Fidelity Investments (US). Over the past year EFA returned +13.78% while FENI returned +15.83%. Year to date, EFA is up 7.56% versus a gain of 8.98% for FENI.
Over three years, EFA compounded at +17.91% per year against +20.24% for FENI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FENI has been the more volatile fund, with annualized monthly volatility of 11.6% compared with 11.2% for EFA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.1% for EFA and -14.2% for FENI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EFA charges 0.32% per year while FENI charges 0.28%. On a $10,000 position that is $32 vs $28 annually, a gap of $4 per year that compounds over a long holding period. On income, EFA currently yields 3.24% against 3.05% for FENI.
Holdings Overlap
59.3% of EFA's money is in holdings FENI also owns. 69.0% of FENI's money is in holdings EFA also owns.
The two portfolios partly overlap.
274 positions in common, counted across the 655 positions we hold weights for in EFA and 423 in FENI, against full books of 682 and 883.
Top Shared Holdings
| Stock | Weight in EFA | Weight in FENI | Difference |
|---|---|---|---|
| ASML:ASASML HOLDING NV | 3.27% | 3.58% | 0.31% |
| HSBA:LNHsbc Holdings Plc | 1.53% | 1.07% | 0.46% |
| NESN:SMNestle Sa | 1.08% | 1.52% | 0.44% |
| SIE:SGSiemens N Ag | 1.04% | 1.51% | 0.47% |
| NOVN:SMNovartis Ag – Class N | 1.22% | 1.28% | 0.06% |
| 8306:JPMitsubishi Ufj Financial Group, Inc. | 1.14% | 1.18% | 0.04% |
| 6857:JPAdvantest Corp | 0.82% | 1.43% | 0.61% |
| SHELShell Plc | 1.28% | 0.93% | 0.35% |
| 8035:JPTokyo Electron Ltd | 0.83% | 1.38% | 0.55% |
| RR:LNRolls-Royce Holdings PLC Ord Gbp0.20 | 0.76% | 1.17% | 0.41% |
69.0% of FENI is already inside EFA.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, EFA or FENI?
EFA has an expense ratio of 0.32% while FENI charges 0.28%. FENI is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, EFA or FENI?
Over the past year EFA returned +13.78% vs +15.83% for FENI, so FENI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EFA or FENI?
FENI has been the more volatile fund at 11.6% annualized versus 11.2% for EFA. Worst drawdown: EFA -14.1% vs FENI -14.2%.
Should I hold both EFA and FENI?
EFA and FENI have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between EFA and FENI?
69.0% of FENI's money is in holdings EFA also owns. 69.0% of FENI's is in holdings EFA also owns. They hold 274 positions in common, counted across the 655 positions we hold weights for in EFA and 423 in FENI.
Which pays a higher dividend, EFA or FENI?
EFA yields 3.24% while FENI yields 3.05%, so EFA currently pays the higher dividend yield.
Is FENI better than EFA?
FENI has a lower expense ratio. FENI led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99. EFA is less concentrated, with 14.1% of the fund in its ten largest positions against 15.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.