At a glance
EFV charges 0.31% a year, above the 0.17% average of the 8 funds most like it (the 7th cheapest of 9). It has $29.11B in assets, the 6th largest of that group; it paid 2.3% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +21.9% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds; over three years it returned +23.3% a year. At its worst it fell 36.3% in the 2020 crash (S&P 500: 33.7%) and 25.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 10 months after the lows. Its ten largest positions make up 19.6% of the fund, out of 416 in all.
The short version
iShares MSCI EAFE Value ETF (EFV) is a BlackRock index fund tracking the MSCI EAFE Value Index: large and mid-size companies in developed markets outside the US and Canada that look cheap relative to their earnings, assets and dividends. It covers roughly the cheaper half of that market, led by HSBC, Nestlé and Shell as of July 31, 2026. At 0.31% a year, it costs more than the 0.17% average for similar international funds.
Price history
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EFV +21.9% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EFV official prospectus, to Dec 31, 2024 | — | +5.40% | — | +5.02% | +4.20% | — |
| MSCIACWI Ex USA Index Net index, same period | — | +5.53% | — | +4.10% | +4.80% | — |
| MSCIEAFE Value Index Net index, same period | — | +5.68% | — | +5.09% | +4.31% | — |
| EFV price data to Nov 2, 2026 | +14.2% | +21.9% | +23.3% | +13.8% | +9.3% | +4.7% |
- Over the year to Nov 2, 2026, EFV returned +21.9%, 3rd of 9 among similar funds.
- Its 5-year annualized return was +13.8% and its 10-year +9.3%.
- In the 2020 COVID crash it fell 36.3% and regained its old high 8.8 months after the low.
- Its worst full calendar year was 2008 (-42.7%); its best was 2025 (+42.2%).
- The deepest fall in its price history was 65.3% (Oct 31, 2007 to Mar 9, 2009), recovered by Mar 27, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.3% | — |
| 2025 | +42.2% | — |
| 2024 | +5.4% | +5.40% |
| 2023 | +18.9% | +18.87% |
| 2022 | -5.2% | -5.38% |
| 2021 | +11.1% | +10.82% |
| 2020 | -3.0% | -2.78% |
| 2019 | +13.1% | +15.97% |
| 2018 | -16.4% | -14.88% |
| 2017 | +19.0% | +21.22% |
| 2016 | +3.3% | +4.87% |
| 2015 | -7.3% | -5.89% |
| 2014 | -8.8% | — |
| 2013 | +19.7% | — |
| 2012 | +16.4% | — |
| 2011 | -14.2% | — |
| 2010 | +2.6% | — |
| 2009 | +26.2% | — |
| 2008 | -42.7% | — |
| 2007 | +1.9% | — |
| 2006 | +29.3% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 64.6% over that stretch · deepest drop along the way 65.3%, back to its old high 180.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.3% over that stretch · deepest drop along the way 36.3%, back to its old high 8.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 22% over that stretch · deepest drop along the way 25.8%, back to its old high 9.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0200 | |
| 2025 | $1.4850 | +21.2% |
| 2024 | $1.2250 | +7.5% |
| 2023 | $1.1400 | +18.8% |
| 2022 | $0.9600 | -6.8% |
| 2021 | $1.0300 | +79.1% |
| 2020 | $0.5750 | -0.4% |
| 2019 | $0.5775 | +11.6% |
| 2018 | $0.5175 | +5.6% |
| 2017 | $0.4900 | +26.5% |
| 2016 | $0.3875 | -7.2% |
| 2015 | $0.4175 | -32.9% |
| 2014 | $0.6225 | +36.8% |
| 2013 | $0.4550 | -0.5% |
| 2012 | $0.4575 | -5.2% |
| 2011 | $0.4825 | +17.7% |
| 2010 | $0.4100 | +10.1% |
| 2009 | $0.3725 | -21.6% |
| 2008 | $0.4750 | -41.5% |
| 2007 | $0.8125 | +173.1% |
| 2006 | $0.2975 |
What's inside
As of Jul 31, 2026, the fund held 416 securities; the ten largest made up 19.58% of assets.
| Holding | Weight | |
|---|---|---|
| HSBC HOLDINGS PLC | 3.22% | |
| Nestle S.A. | 2.29% | |
| SHELL PLC | 2.28% | |
| Mitsubishi UFJ Financial Group, Inc. | 2.12% | |
| Roche Holding AG | 1.78% | |
| Allianz SE | 1.68% | |
| Novartis AG | 1.66% | |
| TOYOTA MOTOR CORPORATION | 1.60% | |
| TOTALENERGIES SE | 1.54% | |
| Siemens Aktiengesellschaft | 1.41% | |
| Banco Bilbao Vizcaya Argentaria, S.A. | 1.41% | |
| Sumitomo Mitsui Financial Group, Inc. | 1.39% | |
| Iberdrola, S.A. | 1.31% | |
| BHP GROUP LIMITED | 1.24% | |
| UNILEVER PLC | 1.24% |
By country
Japan 23.32%United Kingdom 16.47%France 10.05%Switzerland 9.49%Germany 8.77%By asset type
Stocks 98.81%Other 0.91%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $1.99B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.54%, -0.39%, +5.55%.
How it works
EFV follows the MSCI EAFE Value Index. It starts with the MSCI EAFE Index, which covers large and mid-size companies in developed Europe, Australasia and the Far East (EAFE), leaving out the US and Canada. MSCI scores each company for value, judged by book value (net assets), forecast earnings and dividends relative to share price, and for growth. The most value-like stocks, worth about half of the parent index's market value, form this index. A company can be split between the value and growth indexes.
MSCI picks the stocks and sets their weights. BlackRock doesn't try to beat the index or retreat to cash when markets fall. It uses representative sampling, holding a set of stocks that together mirror the index without necessarily owning every one. At least 80% of assets generally sit in index stocks or close equivalents, with room for futures, cash and similar tools. As of July 31, 2026, it had 416 holdings, the top 10 making up about 20% of assets, with Japan (23%) and the UK (16%) the largest country weights.
Holdings are priced in foreign currencies, so a falling yen, pound or euro against the dollar cuts returns even when share prices hold steady. The fund can also lend out shares worth up to a third of its assets to earn extra income.
What it really costs
- EFV charges 0.31% a year, versus an average of 0.17% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $32 in the first year and $393 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EFV | $32 | $100 | $174 | $393 |
In a retirement portfolio
It adds large and mid-size overseas value stocks, led by HSBC, Nestlé and Shell as of July 31, 2026, but carries the full risk of a stock fund.
EFV adds cheaply valued companies in Japan, Europe and Australia that a US-heavy portfolio may hold little of. It fell 65.3% from October 2007 to March 2009 and didn't regain that peak until March 2024, about 15 years later; 2008 brought a 42.7% loss. Recoveries were faster in 2020 (a 36.3% drop, recovered in about nine months) and 2022 (a 25.8% drop, recovered by July 2023). Withdrawals during a slump like 2008 would mean cashing in shares at deep losses, leaving fewer for the rebound.
It yielded 2.3% as of October 27, 2026, with dividends paid twice a year. Its 0.31% annual fee is far above the 0.07% charged by the broader iShares Core MSCI EAFE ETF (IEFA); on $10,000, the SEC's standard example puts costs at $393 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a tilt toward cheaper-looking overseas stocks, with banks and consumer names such as HSBC, Mitsubishi UFJ and Nestlé among the largest holdings.
- Investors with mostly US stocks seeking developed markets abroad, led by Japan (23%), the UK (16%) and France (10%) as of July 31, 2026.
- Those wanting some overseas dividend income: a 2.3% yield as of October 27, 2026, paid twice a year.
Look elsewhere if
- Cost-focused investors: the 0.31% fee is far above broad developed-market funds such as IEFA (0.07%), IDEV (0.04%) and SPDW (0.03%).
- Anyone who may need to draw heavily in a crash: EFV lost 65.3% in 2007–09 and took about 15 years to recover.
- Investors wanting growth stocks or the whole EAFE market; this fund holds only the value half, which can trail for long stretches.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| EFV this fund | — | 0.31% | $29.11B | +21.9% | +23.3% |
| EFA iShares MSCI EAFE ETF | 56% | 0.32% | $77.98B | +13.5% | +18.2% |
| CEFA Global X S&P Catholic Values Developed ex-U… | 51% | 0.35% | $56.2M | +10.4% | +18.9% |
| FNDF Schwab Fundamental International Equity ETF | 49% | 0.25% | $26.18B | +26.8% | +23.6% |
| IEFA iShares Core MSCI EAFE ETF | 47% | 0.07% | $190.11B | +13.7% | +18.5% |
| DFIV Dimensional International Value ETF | 43% | 0.27% | $21.39B | +25.4% | +25.0% |
| IDEV iShares Core MSCI International Developed M… | 41% | 0.04% | $31.64B | +14.6% | +19.2% |
| SCHF Schwab International Equity ETF | 40% | 0.06% | $69.68B | +17.7% | +20.4% |
Questions investors ask
What's the difference between EFV and EFA?
EFV holds only the value side of the market that EFA covers. Both are iShares funds built on MSCI EAFE indexes, but EFV's index keeps the cheaper-looking stocks that make up about half of the MSCI EAFE Index's value, while EFA spans the broader market. Their holdings overlap by about 56% in their latest holdings reports. Fees are close: 0.31% for EFV and 0.32% for EFA. EFV returned 20.5% versus 12% for EFA in the year to October 27, 2026, though value stocks can trail for long stretches.
Does EFV pay monthly dividends?
No. EFV pays dividends twice a year, not monthly. Over the 12 months to October 27, 2026, it paid about $1.83 per share, a trailing yield of 2.3%. The payouts pass along dividends from companies such as HSBC, Shell and Nestlé, so they can rise or fall with company profits and with exchange rates, because foreign dividends are converted into dollars. Dividend yield is one of the traits MSCI uses to classify stocks as value, which helps explain the income.
How has EFV performed over the long term?
EFV's long-term record was modest until a 42.2% gain in 2025. Its prospectus shows average annual returns of 4.20% over 10 years and 5.02% over five years through December 31, 2024, just behind the MSCI EAFE Value Index's 4.31% and 5.09%, a gap partly reflecting fees. Based on market prices through October 27, 2026, it returned 9.2% a year over 10 years and 13.8% over five. Its worst year was 2008, a 42.7% loss.
What are EFV's top holdings?
EFV's largest holdings as of July 31, 2026, were HSBC (3.2% of assets), Nestlé (2.3%), Shell (2.3%), Mitsubishi UFJ Financial Group (2.1%) and Roche (1.8%), followed by Allianz, Novartis, Toyota, TotalEnergies and Siemens. Those 10 made up 19.6% of a portfolio of 416 holdings in large and mid-size companies outside the US and Canada, so no single stock dominates. Japan was the largest country at 23.3%, followed by the UK at 16.5% and France at 10.1%.
Is EFV good for retirement?
EFV can play a supporting role, adding overseas value stocks, but it is a stock fund with deep past losses. It fell 65.3% from October 2007 to March 2009 and didn't regain that peak until March 2024. It yielded 2.3% as of October 27, 2026, with dividends paid twice a year. Its 0.31% annual fee is higher than the 0.07% of iShares Core MSCI EAFE ETF (IEFA). Whether it fits depends on the rest of the portfolio and how spending would be covered in a downturn.