What Is EFV? iShares MSCI EAFE Value ETF
Last updated September 2026
Short answer
EFV is iShares MSCI EAFE Value ETF, an ETF that tracks the MSCI EAFE Value Index at a 0.31% expense ratio. EFV holds the value half of developed markets outside the US, and it produces one of the highest yields available in a mainstream equity fund at about 4.78%. That number comes from what the portfolio contains rather than from any income strategy: financials at 39%, led by HSBC, Mitsubishi UFJ and other large banks, alongside Nestle, Shell and Roche. It is a genuine value portfolio in a way that US funds carrying the same label are not.
EFV is issued by iShares and tracks the MSCI EAFE Value Index. It charges a 0.31% expense ratio, holds approximately $23.7B in assets under management, yields about 4.78%, and launched in 2005.
Why this is more of a value fund than its US equivalents
US value funds keep pulling in Apple and Amazon, because the American market is so top-heavy that mechanical screens cannot exclude the giants. Developed international markets are not structured that way. No single company dominates, so a value screen produces what people actually expect: banks, energy, pharmaceuticals and consumer staples.
Financials at 39% is the clearest expression of that. HSBC at 3.1%, Nestle at 2.5%, Shell at 2.0%, Mitsubishi UFJ at 2.0% and Roche at 1.8% are a recognisably different kind of portfolio from anything a US value fund holds.
The yield, and what comes with it
At 4.78%, EFV yields roughly five times a US large-cap growth fund. Banks, energy companies and European consumer staples distribute a much larger share of earnings, and the value screen selects for exactly those.
The trade-offs are real. Financials at 39% makes the fund heavily dependent on credit conditions and interest-rate spreads. It is unhedged, so a stronger dollar reduces returns regardless of business performance. And a portfolio this concentrated in banks will behave very differently from a broad international fund in any banking stress.
EFV holdings: top 10
Approximate weights as of August 2026. Each ticker links to its individual stock guide in Walnut.
| Rank | Ticker | Company | % of EFV | |
|---|---|---|---|---|
| 1 | HSBC Holdings | 3.1% | ||
| 2 | Nestle | 2.5% | ||
| 3 | Shell | 2.0% | ||
| 4 | Mitsubishi UFJ Financial | 2.0% | ||
| 5 | Roche Holding | 1.8% |
How do I invest in EFV?
There are three common ways to get EFV exposure. Buy shares (or fractional shares) of EFV directly at any major broker that lists it. Hold it as a core position and layer more concentrated ideas on top. Or build it into a thematic portfolio in Walnut, so EFV sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. EFV trades like a stock during market hours, so you buy it the same way you would any listed share.
New to buying funds? See how to buy an ETF, step by step.
Is EFV a good buy?
Whether EFV is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks the MSCI EAFE Value Index, so the real question is whether you want that exposure in your mix and at what weight. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is EFV a buy?
The bottom line on EFV
EFV gives you the MSCI EAFE Value Index exposure in one ticker at a 0.31% expense ratio. Most investors use it as a core holding and layer more concentrated thematic portfolios on top.
More on EFV
Whether EFV is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is EFV a buy?
EFV yields 4.78% as of August 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see EFV dividend: yield and schedule.
New to funds like EFV? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how EFV fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in EFV with AI
Connect the broker you already use and ask Walnut's AI how EFV fits what you actually hold: what it overlaps with, what it leaves you exposed to, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is EFV?
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EFV is the iShares MSCI EAFE Value ETF. It holds the value half of developed markets outside the US and Canada, concentrated in Europe and Japan. It charges 0.31%, holds about $23.7B, yields roughly 4.78%, and launched in 2005.
Why does EFV yield nearly 5%?
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Composition. Financials are 39% of the fund and the value screen selects companies distributing a large share of earnings. Banks, energy companies and European consumer staples pay out far more than technology companies, and European dividend culture is stronger than the US equivalent.
Is EFV more of a value fund than US value funds?
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Arguably yes. US value funds keep holding Apple and Amazon because the American market is so top-heavy that mechanical screens cannot exclude the giants. International markets are not structured that way, so the screen produces the banks, energy and pharmaceutical companies people actually expect.
What does EFV hold?
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HSBC at 3.1%, Nestle at 2.5%, Shell at 2.0%, Mitsubishi UFJ at 2.0% and Roche at 1.8%. By sector: financials 39%, consumer staples 10% and industrials 10%.
What is the main risk in EFV?
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Concentration in financials at 39%. Banks are highly sensitive to credit conditions and to the shape of the yield curve, so the fund behaves very differently from a broad international fund during any banking stress. Currency is the second risk, since the fund is unhedged.
Does EFV hedge currency?
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No. It holds shares priced in euros, yen, pounds and Swiss francs while reporting in dollars, so a stronger dollar reduces its value even when the underlying businesses are unchanged.
EFV vs a broad developed international fund?
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A broad fund like IDEV or SPDW holds both value and growth across developed markets at 0.03-0.04%. EFV takes only the value half at 0.31%, which produces a much higher yield and a much heavier financials weight. It is a deliberate tilt, priced accordingly.
How is EFV taxed?
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Distributions are generally qualified dividends where holding-period tests are met. Foreign governments often withhold tax on dividends at source, and in a taxable account you may be able to claim a foreign tax credit for that withholding; the credit is generally unavailable inside an IRA. Given the high yield, account placement matters more here than for a low-yielding fund. This is not tax advice.
What is EFV's expense ratio?
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EFV has an expense ratio of 0.31% per year as of August 2026, charged by iShares and deducted from the fund's value rather than billed to you separately. On a $10,000 position that is roughly $31 a year. Fees compound over time, so on a long-term holding the expense ratio is one of the few return drivers you control. It is worth comparing against other funds that track the MSCI EAFE Value Index before you choose.
How do I compare EFV to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. EFV's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to August 2026; verify current figures against iShares's fund page or your broker before investing.