IEFA vs VWO

Portfolio characteristics

Net assets are for the ETF share class on different dates (IEFA $192.79B; VWO $115.37B), so they are not matched. Figures that were not available are left out rather than estimated.

Top ten sums: IEFA 12.2% · VWO 27.2%. 0 shared top-ten stocks. Weights change.

The sector mirror

Same funds, different lenses

Company size

Both hold large, mid-size and small companies. IEFA holds 2,624 stocks and VWO holds 6,507.

What you actually own

The first rows are market price total returns computed on the same dates for both funds (to Nov 9, 2026), so they compare like for like. The 10-year figure runs from the Dec 30, 2016 close (9.9 years). The issuer NAV rows are dated separately (IEFA to Sep 30, 2026, VWO to Oct 31, 2026) and include the since-inception figures. “Since inception” starts in different years (IEFA 2012, VWO 2005). Past performance does not guarantee future results.

Growth of a hypothetical $10,000 · Market price total return, both to Nov 9, 2026

Both funds derived from annualized market price total returns on matched dates (compounded). Distributions reinvested; fund expenses are already in the price. Illustration, not a forecast.

Paid per share, last 12 months vs the 12 months before

Payouts are listed by ex-dividend date. Because IEFA pays semi-annually, the like-for-like comparison is the total paid over the last 12 months against the 12 months before (cards above: IEFA $3.289 per share, VWO Not captured per share). Shares pay most income in one or two large payouts, so a single payout says little. See yield vs total return.

Rank by rank, the ten largest positions of each fund. Top five: IEFA 7.2%, VWO 23.4%. Top ten: IEFA 12.2%, VWO 27.2%.

Large funds like these usually trade with small spreads, but check the live spread before you trade. A spread of 0.01% is about $10 between the buy and sell price on $100,000. Foreign markets are closed for part of the U.S. day, so the price can drift from NAV when the underlying stocks are not trading. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.

Expense ratio is taken from fund assets, not billed. It excludes the bid/ask spread, any premium or discount to NAV, brokerage commissions, taxes, and foreign withholding taxes that reduce dividends before the fund receives them.

Exact eligibility rules, caps and rebalance dates sit in each prospectus and index methodology; read them before relying on this summary.

One fund holds developed markets and the other holds emerging markets, so they share little or nothing.

IEFA follows the MSCI EAFE IMI Index and VWO follows the FTSE Emerging Markets All Cap China A Inclusion Index. Because each provider draws its own market lines, the funds hold different numbers of stocks (2,624 against 6,507) and carry different weights in countries such as South Korea, Canada and Taiwan. Over any window the results can diverge in either direction, and the gap comes mostly from what each fund holds and when each is priced, not from fees.

Start with what separates them: One fund holds developed markets and the other holds emerging markets, so they share little or nothing. Then check what you already own: the funds overlap by 0.0%, so holding both is a real decision about how much of each market you want.

• Step 1 · Market: IEFA holds stocks from developed markets outside the United States; VWO holds stocks from emerging markets such as China, Taiwan, India and Brazil.
• Step 2 · Cost: IEFA 0.07% vs VWO 0.06%.
• Step 3 · Concentration: ten largest positions 12.2% vs 27.2%.
• Step 4 · Overlap: use the Diversification Calculator against what you own.

Size the position against your whole portfolio, including any U.S. stock fund you hold.

IEFA and VWO are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on both entry and exit. The funds also hold shares priced in euros, yen, pounds and other currencies, so a move in the U.S. dollar changes your return in Canadian dollars as well.

Foreign governments usually withhold tax on dividends paid to the funds before the fund receives them. In a taxable account, part of that tax may be claimable through the foreign tax credit. The treaty exemption that applies to U.S. dividends inside an RRSP generally does not cover foreign withholding on shares of non-U.S. companies, and a TFSA is not exempt either. Rules depend on the fund and the account, so confirm them with a tax professional. This is general education, not tax advice.

Both funds invest in foreign stocks. Their dividends are mostly taxed at ordinary or qualified rates depending on the stock and holding period, and foreign taxes withheld at source can often be claimed back as a foreign tax credit in a taxable U.S. account. Check each fund’s tax documents for details.

For Canadian account types and withholding tax, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio.

Investors comparing IEFA and VWO often also look at the other international funds in this group: VXUS, IXUS, VEA, IEFA, VWO and IEMG. See the other International ETFs comparisons and the ETF research hub.

Is IEFA or VWO better?

In the IEFA vs VWO question, neither is better for everyone. IEFA and VWO differ mainly in what they hold and what they charge. One fund holds developed markets and the other holds emerging markets, so they share little or nothing. Expense ratios are 0.07% and 0.06%.

Market price total returns, annualized (both to Nov 9, 2026): 1 year 15.23% vs 6.14%; 3 years 18.97% vs 16.34%; 5 years 8.21% vs 5.06%; 10 years 9.45% vs 7.69%. Neither is better for everyone; the choice turns on cost, which markets you want, and what you already own.

IEFA vs VWO, what are the expense ratios?

IEFA charges 0.07% and VWO charges 0.06%, which is $7 and $6 a year per $10,000.

IEFA vs VWO, how much do the funds overlap?

About 0.0% of the weight is held by both funds, matched by ISIN in SEC filings dated Jul 31, 2026. 0 stocks appear in both top-ten lists.

IEFA vs VWO, what does each ETF track?

IEFA tracks the MSCI EAFE IMI Index. VWO tracks the FTSE Emerging Markets All Cap China A Inclusion Index.

IEFA vs VWO, what are the top holdings?

IEFA (Nov 6, 2026): ASML Holding 2.27%, Roche Holding 1.36%, HSBC Holdings 1.21%, Novartis 1.21%, Shell 1.17%. VWO (Sep 30, 2026): Taiwan Semiconductor Manufacturing 15.72%, Tencent Holdings 2.81%, Alibaba Group Holding 2.11%, MediaTek 1.87%, Delta Electronics 0.94%.

IEFA vs VWO, which has performed better?

Market price total returns, annualized (both to Nov 9, 2026): 1 year 15.23% vs 6.14%; 3 years 18.97% vs 16.34%; 5 years 8.21% vs 5.06%; 10 years 9.45% vs 7.69%. Returns depend on what each fund holds, and past performance does not guarantee future results.

IEFA vs VWO, can I own both?

On IEFA vs VWO, you can, but they overlap by about 0.0%. 0 top-ten stocks are shared. The funds share almost nothing, so owning both genuinely widens coverage; they are different slices of the world.

IEFA vs VWO, how often do the funds pay dividends?

IEFA pays semi-annual and VWO pays quarterly. Trailing yields are 2.45% and 2.15% trailing; check each issuer page for the schedule.

IEFA vs VWO, are they suitable for Canadian investors?

On IEFA vs VWO, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs and foreign withholding tax on dividends. Treatment differs across TFSA, RRSP and taxable accounts. This is general education, not tax advice.

IEFA vs VWO, how do the funds differ by sector?

IEFA (Nov 6, 2026): financials 23.8%, industrials 18.3%, health care 10.6%. VWO (Sep 30, 2026): information technology 35.9%, financials 19.6%, industrials 8.8%.

Third-party sources

StockAnalysis IEFA · StockAnalysis VWO · SEC EDGAR Form N-PORT filings.

Methodology and limits

• IEFA figures come from iShares fund pages and VWO figures from Vanguard fund pages.
• Dates are shown beside each figure; the issuer documents are linked below.
• Holdings overlap uses SEC Form N-PORT equity holdings matched by ISIN: sum of the smaller weight of each security held by both funds. Report dates: Jul 31, 2026. The date gaps, cash, derivatives and unmatched securities make this a floor.
• Vanguard figures come from advisors.vanguard.com; iShares figures from ishares.com including the holdings file; market data (assets, shares, beta, range) from StockAnalysis, dated Nov 9, 2026.
• Sector labels differ by provider (FTSE and MSCI); technology, telecommunications and basic materials were mapped to technology, communication and materials. Cross-provider gaps are approximate.
• Figures that were unavailable are left out, and nothing was filled from memory or from another fund.
• Growth of $10,000 is derived from annualized market price total returns on matched dates; dollar values are approximate.
• Returns are computed from daily adjusted closing prices (distributions reinvested) so both funds share the same dates (the 10-year figure runs from Dec 30, 2016, 9.9 years); the issuers’ own NAV returns are shown beside them with their dates.

Pathways, not rankings or recommendations.