Both funds give you large, mid and small companies in developed markets outside the United States, such as Europe, Japan and Australia. They overlap heavily, so for most investors the choice comes down to small details.
VEA vs IEFA: Developed-Markets ETFs Compared
VEA and IEFA both own stocks outside the US. See how the indexes, Canada exposure and issuers differ, and what to check before choosing.
At a glance
Vanguard FTSE Developed Markets ETF
VEA
|
iShares Core MSCI EAFE ETF
IEFA
|
|
|---|---|---|
| Exchange | NYSE Arca | NYSE Arca |
| Issuer | Vanguard | BlackRock (iShares) |
| Category | International developed markets | International developed markets |
| Tracks | FTSE Developed All Cap ex US Index | MSCI EAFE IMI Index |
| Launched | 2007 | 2012 |
| Regular dividend | Yes | Yes |
| Full profile | Read the profile → | Read the profile → |
Price chart
Live data by TradingViewKey differences
Index and provider
VEA follows an FTSE index. IEFA follows an MSCI index. The two providers classify some markets a little differently.
Canada
VEA includes Canada. IEFA does not, because the MSCI EAFE index covers Europe, Australasia and the Far East only.
Issuer
VEA is from Vanguard and IEFA from BlackRock's iShares range.
Launch
VEA launched in 2007 and IEFA in 2012.
Costs and distributions
Fees and distribution schedules can differ. Compare the current figures on each issuer's website.
What to check before choosing
- Do you want Canada included, or already hold it elsewhere?
- What are the current expense ratios and your broker's trading costs?
- Do you already own a US fund, and how much international exposure do you want?
This is general education, not a recommendation. Fees, yields and prices change, so check current figures with the issuer or your broker.
Frequently asked questions
Is VEA or IEFA better?
They are very similar. The main differences are Canada (VEA includes it), the index provider and small cost differences.
Do VEA and IEFA include the US?
No. Both cover developed markets outside the US.
Do I need to own both?
No. They overlap heavily, so one is usually enough.
Investment Disclaimer
All information and tools on this website are provided for informational purposes only. The calculations, examples, and projections are simplified estimates and may not reflect real-world investment results.
Nothing on this website should be interpreted as financial, investment, tax, or legal advice. You are solely responsible for your investment decisions and any outcomes resulting from them.
Past performance and projected returns do not guarantee future results. Always conduct your own research and consult a qualified financial advisor before making investment decisions.