IEFA vs RIO: Correlation
iShares Core MSCI EAFE ETF (IEFA) and Rio Tinto Plc (RIO) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and RIO?
Across a 3-year window, the weekly returns of IEFA and RIO correlate at 0.65, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 243.5 %².
Within IEFA's tracked universe of 111 assets, RIO comes in at #51 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RIO outperformed by 55.4 percentage points (+21.8% for IEFA against +77.2% for RIO). Note the risk asymmetry: RIO runs 1.7 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.
IEFA vs RIO: side by side
| IEFA (iShares Core MSCI EAFE ETF) | RIO (Rio Tinto Plc) | |
|---|---|---|
| 1-year return | +21.8% | +77.2% |
| 5-year return | +54.5% | +94.8% |
| Volatility (ann.) | 15.0% | 25.1% |
| Beta vs S&P 500 | 0.77 | 0.70 |
| Max drawdown (3Y) | -13.8% | -24.2% |
| Market cap | – | $170.4B |
| P/E (trailing) | – | 14.2 |
| Dividend yield | 3.35% | 4.44% |
| Expense ratio | 0.07% | – |
| Assets under management | $190.1B | – |
| Sector / category | ETF · International | US Listed |
IEFA is a Foreign Large Blend fund from iShares: $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | IEFA | RIO |
|---|---|---|
| 2022 | -15.2% | +18.5% |
| 2023 | +18.0% | +11.1% |
| 2024 | +3.3% | -15.4% |
| 2025 | +32.1% | +44.5% |
| 2026 | +14.5% | +37.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
RIO represents 0.6% of IEFA's portfolio, so part of any move in IEFA is RIO itself, and the correlation between them is partly mechanical.
Are IEFA and RIO good diversifiers for each other?
Only partially. A correlation of 0.65 means IEFA and RIO 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 IEFA and RIO?
As of 2026-08-27, the correlation of weekly returns between IEFA and RIO is 0.65 over 3 years, 0.63 over 1 year and 0.61 over 5 years.
Is RIO a good diversifier for IEFA?
Only partially. A correlation of 0.65 means IEFA and RIO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iefa-vs-rio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iefa-vs-rio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEFA correlations · RIO correlations
