IEFA vs IFN: Correlation
Measured on weekly returns over the past three years, iShares Core MSCI EAFE ETF (IEFA) and Aberdeen India Fund, Inc. (IFN) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and IFN?
On 3 years of weekly data the IEFA/IFN correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.60 over 3. The 5-year figure is 0.65, and annualized covariance runs at 183.5 %².
By 3-year correlation, IFN places #65 of the 111 assets tracked against IEFA. Their recent paths diverged sharply: over the last 12 months IEFA outperformed by 35.8 percentage points (+21.8% for IEFA against -14.0% for IFN).
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.
IEFA vs IFN: side by side
| IEFA (iShares Core MSCI EAFE ETF) | IFN (Aberdeen India Fund, Inc.) | |
|---|---|---|
| 1-year return | +21.8% | -14.0% |
| 5-year return | +54.5% | +1.4% |
| Volatility (ann.) | 15.0% | 20.3% |
| Beta vs S&P 500 | 0.77 | 0.74 |
| Max drawdown (3Y) | -13.8% | -33.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 3.35% | 19.23% |
| Expense ratio | 0.07% | – |
| Assets under management | $190.1B | – |
| Sector / category | ETF · International | US Listed |
On the fund side, IEFA sits in the Foreign Large Blend category at iShares, with $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | IEFA | IFN |
|---|---|---|
| 2022 | -15.2% | -15.8% |
| 2023 | +18.0% | +36.5% |
| 2024 | +3.3% | -2.3% |
| 2025 | +32.1% | -3.0% |
| 2026 | +14.5% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and IFN good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IEFA and IFN?
The IEFA/IFN correlation stands at 0.60 on a 3-year window (1 year: 0.70, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is IFN a good diversifier for IEFA?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iefa-vs-ifn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iefa-vs-ifn/)
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Related comparisons
Hubs: IEFA correlations · IFN correlations
