IEFA vs MUFG: Correlation
Measured on weekly returns over the past three years, iShares Core MSCI EAFE ETF (IEFA) and Mitsubishi UFJ Financial Group, Inc. (MUFG) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and MUFG?
Over the past 3 years, IEFA and MUFG moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 257.6 %².
By 3-year correlation, MUFG places #74 of the 111 assets tracked against IEFA. Their recent paths diverged sharply: over the last 12 months MUFG outperformed by 25.1 percentage points (+21.8% for IEFA against +46.9% for MUFG). Risk is not evenly split, since MUFG carries 2.0 times the volatility of the other side.
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 MUFG: side by side
| IEFA (iShares Core MSCI EAFE ETF) | MUFG (Mitsubishi UFJ Financial Group, Inc.) | |
|---|---|---|
| 1-year return | +21.8% | +46.9% |
| 5-year return | +54.5% | +338.5% |
| Volatility (ann.) | 15.0% | 30.7% |
| Beta vs S&P 500 | 0.77 | 0.98 |
| Max drawdown (3Y) | -13.8% | -26.6% |
| Market cap | – | $252.6B |
| P/E (trailing) | – | 16.7 |
| Dividend yield | 3.35% | 383.24% |
| 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 | MUFG |
|---|---|---|
| 2022 | -15.2% | +22.2% |
| 2023 | +18.0% | +29.1% |
| 2024 | +3.3% | +40.1% |
| 2025 | +32.1% | +38.0% |
| 2026 | +14.5% | +41.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and MUFG good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IEFA and MUFG?
As of 2026-08-27, the correlation of weekly returns between IEFA and MUFG is 0.56 over 3 years, 0.48 over 1 year and 0.54 over 5 years.
Is MUFG a good diversifier for IEFA?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/iefa-vs-mufg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iefa-vs-mufg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEFA correlations · MUFG correlations
