IEFA vs VXX: Correlation
iShares Core MSCI EAFE ETF (IEFA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and VXX?
Across a 3-year window, the weekly returns of IEFA and VXX correlate at -0.69, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.73 over 1 year against -0.69 over 3. Stretching to 5 years gives -0.64, with an annualized covariance of -625.3 %².
Among the 111 assets we track against IEFA, VXX sits near the bottom by co-movement, at rank #111. Correlation aside, the last 12 months split them widely, with IEFA ahead by 71.5 points (+21.8% versus -49.7%). One caveat on sizing: VXX is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VXX: side by side
| IEFA (iShares Core MSCI EAFE ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.8% | -49.7% |
| 5-year return | +54.5% | -95.6% |
| Volatility (ann.) | 15.0% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -13.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.35% | 0.00% |
| 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 | VXX |
|---|---|---|
| 2022 | -15.2% | -23.8% |
| 2023 | +18.0% | -72.5% |
| 2024 | +3.3% | -26.2% |
| 2025 | +32.1% | -42.2% |
| 2026 | +14.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and VXX good diversifiers for each other?
Yes: at -0.69, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IEFA and VXX?
The IEFA/VXX correlation stands at -0.69 on a 3-year window (1 year: -0.73, 5 years: -0.64), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for IEFA?
Yes: at -0.69, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.69 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-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iefa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IEFA correlations · VXX correlations
