EFA vs SOXX: Correlation & Overlap
How closely do iShares MSCI EAFE ETF (EFA) and iShares Semiconductor ETF (SOXX) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong. The two funds also share 2.6% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and SOXX?
Over the past 3 years, EFA and SOXX moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.58 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 322.9 %².
By 3-year correlation, SOXX places #59 of the 109 assets tracked against EFA. Correlation aside, the last 12 months split them widely, with SOXX ahead by 88.1 points (+21.9% versus +110.0%). Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.75. Note the risk asymmetry: SOXX runs 2.4 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.
EFA vs SOXX: side by side
| EFA (iShares MSCI EAFE ETF) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +21.9% | +110.0% |
| 5-year return | +56.7% | +247.5% |
| Volatility (ann.) | 14.9% | 35.2% |
| Beta vs S&P 500 | 0.77 | 1.93 |
| Max drawdown (3Y) | -14.1% | -41.4% |
| Dividend yield | 3.19% | 0.29% |
| Expense ratio | 0.32% | 0.33% |
| Assets under management | $78.0B | $44.7B |
| Sector / category | ETF · International | ETF · Thematic |
On the fund side, EFA sits in the Foreign Large Blend category at iShares, with $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield. On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Portfolio overlap between EFA and SOXX
The two portfolios are largely distinct. Weighing the shared positions, 2.6% of the two funds is identical, spread across 3 common holdings. That shared book is a large part of why the returns line up.
Largest positions held only by EFA: HSBA (1.57%), ROP (1.42%), SAN (1.38%), NOVN (1.28%), SHEL (1.14%). Only by SOXX: NVDA (8.87%), MU (8.64%), AMD (8.33%), AVGO (7.11%), MRVL (5.34%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26. Top 3 common positions shown.
Year-by-year returns
| Year | EFA | SOXX |
|---|---|---|
| 2022 | -14.4% | -35.1% |
| 2023 | +18.4% | +67.1% |
| 2024 | +3.5% | +12.9% |
| 2025 | +31.5% | +40.7% |
| 2026 | +14.3% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and SOXX good diversifiers for each other?
Only partially. A correlation of 0.62 means EFA and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EFA and SOXX?
As of 2026-08-27, the correlation of weekly returns between EFA and SOXX is 0.62 over 3 years, 0.58 over 1 year and 0.66 over 5 years.
Is SOXX a good diversifier for EFA?
Only partially. A correlation of 0.62 means EFA and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
How much do EFA and SOXX overlap?
2.6% by weight, across 3 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/efa-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efa-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EFA correlations · SOXX correlations
