Data as of Oct 28, 2026.
CFA vs EFA: Differences, Returns & Fees
Over the year to Oct 28, 2026, CFA returned +11.9% to EFA's +12.1%; 0% of their weight is in the same names.
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Net assets: $534m on Jun 30, 2026 for VictoryShares US 500 Volatility Wtd ETF, and $76.8bn on Oct 27, 2026 for iShares MSCI EAFE ETF.
Pair scorecard
EFA costs 0.03 points a year less; their one-year returns differ by 0.2 points.
| Measure | CFA | EFA |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.9% | +12.1% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 25, 2026 | |
| Benchmark | ||
| What it tracks | Nasdaq Victory US Large Cap 500 Volatility Weighted Index | MSCI EAFE Index |
| Cost and size | ||
| Expense ratio | 0.35% | 0.32% |
| Net assets, CFA as of Jun 30, 2026 and EFA as of Oct 27, 2026 | $534m | $76.8bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 3.9% | 14.3% |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method
Risk and return
Jul 11, 2014 to Oct 23, 2026 · 641 weekly returnsCFA returned more: +237.3% to +116.1%. CFA and EFA swung about the same: 16.6% and 16.6%. EFA fell slightly less at its worst: −33.4% to −35.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | CFA | EFA | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +237.3% | +116.1% | CFA | Price change plus distributions, reinvested. |
| Annualized | +10.4% | +6.5% | CFA | Total return as a yearly rate. |
| Price return | +185.2% | +52.1% | CFA | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.6% | 16.6% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.7% | 11.9% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −35.4% | −33.4% | EFA (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.55 | 0.34 | CFA | Return above Treasury bills per unit of volatility. |
| Sortino | 0.79 | 0.47 | CFA | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.29 | 0.19 | CFA | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 641 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, CFA and EFA hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
CFA and EFA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: the two funds' holdings are dated 119 days apart.
CFA
CFA tracks an index. Over the year to Oct 28, 2026 it returned +11.9% with distributions reinvested. The prospectus expense ratio is 0.35% a year. By its holdings filed for Jun 30, 2026, 84% of the fund by weight is stocks the S&P 500 also holds, across 501 positions, with the top ten at 3.9%.
EFA
EFA tracks an index of Developed markets ex US. Over the year to Oct 28, 2026 it returned +12.1% with distributions reinvested, against +14.3% for its benchmark, the MSCI ACWI ex USA Index. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 665 positions, with the top ten at 14.3%. It sat 4.7% below its high of Aug 25, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, CFA or EFA?
- In the year to Oct 28, 2026, with distributions reinvested, CFA returned +11.9% and EFA +12.1%.
- Which is cheaper, CFA or EFA?
- EFA is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, CFA against EFA, data as of Oct 28, 2026. https://etfiq.com/compare/any/cfa-vs-efa
ETFIQ. (Oct 28, 2026). CFA against EFA. Retrieved from https://etfiq.com/compare/any/cfa-vs-efa
[CFA against EFA (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/cfa-vs-efa)
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