BCS vs IEFA: Correlation
Measured on weekly returns over the past three years, Barclays PLC (BCS) and iShares Core MSCI EAFE ETF (IEFA) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCS and IEFA?
On 3 years of weekly data the BCS/IEFA correlation comes out at 0.69, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 320.5 %².
By 3-year correlation, IEFA places #4 of the 15 assets tracked against BCS. On 12-month performance BCS holds a 14.8-point edge, +36.6% against +21.8%. Note the risk asymmetry: BCS runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BCS vs IEFA: side by side
| BCS (Barclays PLC) | IEFA (iShares Core MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +36.6% | +21.8% |
| 5-year return | +214.7% | +54.5% |
| Volatility (ann.) | 30.9% | 15.0% |
| Beta vs S&P 500 | 1.27 | 0.77 |
| Max drawdown (3Y) | -26.2% | -13.8% |
| Market cap | $90.3B | – |
| P/E (trailing) | 10.3 | – |
| Dividend yield | 0.42% | 3.35% |
| Expense ratio | – | 0.07% |
| Assets under management | – | $190.1B |
| Sector / category | US Listed | ETF · International |
IEFA, iShares's Foreign Large Blend fund, carries $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | BCS | IEFA |
|---|---|---|
| 2022 | -21.9% | -15.2% |
| 2023 | +6.0% | +18.0% |
| 2024 | +76.3% | +3.3% |
| 2025 | +96.5% | +32.1% |
| 2026 | +8.0% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCS and IEFA good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BCS and IEFA?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.70 over the last year and 0.70 over 5 years.
Is IEFA a good diversifier for BCS?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bcs-vs-iefa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcs-vs-iefa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCS correlations · IEFA correlations
