IEFA vs WHLR: Correlation
Measured on weekly returns over the past three years, iShares Core MSCI EAFE ETF (IEFA) and Wheeler Real Estate Investment Trust, Inc. (WHLR) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and WHLR?
Across a 3-year window, the weekly returns of IEFA and WHLR correlate at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.17 over 3 years. Stretching to 5 years gives -0.11, with an annualized covariance of -1405.8 %².
Among the 111 assets we track against IEFA, WHLR ranks #103 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IEFA ahead by 121.8 points (+21.8% versus -100.0%). Note the risk asymmetry: WHLR runs 36.3 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 WHLR: side by side
| IEFA (iShares Core MSCI EAFE ETF) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +21.8% | -100.0% |
| 5-year return | +54.5% | -100.0% |
| Volatility (ann.) | 15.0% | 545.0% |
| Beta vs S&P 500 | 0.77 | -5.84 |
| Max drawdown (3Y) | -13.8% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| 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 | WHLR |
|---|---|---|
| 2022 | -15.2% | -28.0% |
| 2023 | +18.0% | -98.4% |
| 2024 | +3.3% | -98.4% |
| 2025 | +32.1% | -100.0% |
| 2026 | +14.5% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and WHLR good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between IEFA and WHLR?
The IEFA/WHLR correlation stands at -0.17 on a 3-year window (1 year: 0.05, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is WHLR a good diversifier for IEFA?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IEFA correlations · WHLR correlations
