IEFA vs SOXX: Correlation & Overlap
iShares Core MSCI EAFE ETF (IEFA) and iShares Semiconductor ETF (SOXX) show a strong relationship: their 3-year correlation of weekly returns is 0.61. 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 IEFA and SOXX?
Over the past 3 years, IEFA and SOXX moved with a correlation of 0.61, which is strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 323.0 %².
Among the 111 assets we track against IEFA, SOXX ranks #61 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SOXX ahead by 88.2 points (+21.8% versus +110.0%). Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.75. Risk is not evenly split, since SOXX carries 2.3 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 SOXX: side by side
| IEFA (iShares Core MSCI EAFE ETF) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +21.8% | +110.0% |
| 5-year return | +54.5% | +247.5% |
| Volatility (ann.) | 15.0% | 35.2% |
| Beta vs S&P 500 | 0.77 | 1.93 |
| Max drawdown (3Y) | -13.8% | -41.4% |
| Dividend yield | 3.35% | 0.29% |
| Expense ratio | 0.07% | 0.33% |
| Assets under management | $190.1B | $44.7B |
| Sector / category | ETF · International | ETF · Thematic |
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. 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 IEFA 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 IEFA: HSBA (1.35%), ROP (1.22%), SAN (1.17%), NOVN (1.10%), NESN (0.97%). 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 | IEFA | SOXX |
|---|---|---|
| 2022 | -15.2% | -35.1% |
| 2023 | +18.0% | +67.1% |
| 2024 | +3.3% | +12.9% |
| 2025 | +32.1% | +40.7% |
| 2026 | +14.5% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and SOXX good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IEFA and SOXX?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.58 over the last year and 0.66 over 5 years.
Is SOXX a good diversifier for IEFA?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
How much do IEFA 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/iefa-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iefa-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEFA correlations · SOXX correlations
