IEFA vs UBS: Correlation
Measured on weekly returns over the past three years, iShares Core MSCI EAFE ETF (IEFA) and UBS Group AG Registered (UBS) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and UBS?
Over the past 3 years, IEFA and UBS moved with a correlation of 0.70, which is strong. The past 12 months show a weaker link (0.58) than the 3-year average (0.70). Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 291.6 %².
Among the 111 assets we track against IEFA, UBS ranks #39 by 3-year correlation. The last year tells two different stories: UBS led by 17.1 percentage points, +21.8% for IEFA against +38.9% for UBS. Note the risk asymmetry: UBS runs 1.9 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 UBS: side by side
| IEFA (iShares Core MSCI EAFE ETF) | UBS (UBS Group AG Registered) | |
|---|---|---|
| 1-year return | +21.8% | +38.9% |
| 5-year return | +54.5% | +273.9% |
| Volatility (ann.) | 15.0% | 27.9% |
| Beta vs S&P 500 | 0.77 | 1.28 |
| Max drawdown (3Y) | -13.8% | -27.0% |
| Market cap | – | $166.4B |
| P/E (trailing) | – | 18.6 |
| Dividend yield | 3.35% | 2.02% |
| 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 | UBS |
|---|---|---|
| 2022 | -15.2% | +7.4% |
| 2023 | +18.0% | +69.9% |
| 2024 | +3.3% | +0.7% |
| 2025 | +32.1% | +57.7% |
| 2026 | +14.5% | +20.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and UBS good diversifiers for each other?
Only partially. A correlation of 0.70 means IEFA and UBS 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 UBS?
The IEFA/UBS correlation stands at 0.70 on a 3-year window (1 year: 0.58, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is UBS a good diversifier for IEFA?
Only partially. A correlation of 0.70 means IEFA and UBS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 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-ubs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iefa-vs-ubs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEFA correlations · UBS correlations
