Dividend comparison
IEFA vs IEMG: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Core MSCI EAFE ETF and iShares Core MSCI Emerging Markets ETF, side by side. Updated October 21, 2026.
IEFA vs IEMG: key differences
The short answer, from the latest data on this page.
- Fees. IEFA is cheaper at 0.07% a year versus 0.09% for IEMG. On $10,000 that is $2 a year less in fees.
- Income. IEFA pays more income, yielding 3.40% over the last twelve months versus 2.32% for IEMG. That is about $108 more a year on $10,000. Both pay semi-annual.
- Performance. Over the last 5 years, IEFA returned 43.9% versus 35.6% for IEMG, with dividends reinvested. $10,000 would have grown to $14,389 in IEFA and $13,559 in IEMG.
- Risk. IEMG has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -32.6%, against -30.0% for IEFA.
- Diversification. IEMG holds 2,857 positions and IEFA holds 2,626. The ten largest positions make up 12.2% of IEFA and 32.0% of IEMG.
- Dividend growth. IEFA grew its yearly payout 7.7% a year over the last 4 years, versus 0.2% for IEMG.
Bottom line: IEFA has the edge on these figures, with more income today, stronger 5-year returns and faster dividend growth. IEMG does not lead on any of the measures compared here.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | IEFA iShares Core MSCI EAFE ETF | IEMG iShares Core MSCI Emerging Markets ETF |
|---|---|---|
| Dividend yield (TTM) | 3.40% | 2.32% |
| Dividend / share (TTM) | $3.29 | $1.80 |
| Payout frequency | Semi-annual | Semi-annual |
| Last dividend | $1.5781 on Jun 18, 2026 | $0.6584 on Jun 18, 2026 |
| Ex-dividend date | Jun 15, 2026 | Jun 15, 2026 |
| Dividend growth (CAGR) | 7.7% over 4 yrs | 0.2% over 4 yrs |
| Price | $96.71 | $77.37 |
| Dividend growth streak | 5 years | 3 years |
| Beta | 0.89 | 1.01 |
| Max drawdown (5Y) | -30.0% | -32.6% |
| Market cap | $190.07B | $151.03B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.07% | 0.09% |
| Assets under management | $190.09B | $152.28B |
| Number of holdings | 2626 | 2857 |
| Top 10 concentration | 12.2% | 32.0% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
IEFA
$28.34/mo
$340 /yr at 3.40% yield
IEMG
$19.36/mo
$232 /yr at 2.32% yield
Dividend history
Total dividends paid per share in each calendar year. IEFA pays semi-annual; IEMG pays semi-annual.
| Year | IEFA | IEMG |
|---|---|---|
| 2025 | $3.1771 | $1.8486 |
| 2024 | $2.4401 | $1.6720 |
| 2023 | $2.2518 | $1.4602 |
| 2022 | $1.7762 | $1.2633 |
| 2021 | $2.3656 | $1.8319 |
Strategy: International equity
Funds that hold companies outside the United States, either across developed markets like Europe, Japan and Canada, across emerging markets like China, India and Taiwan, or both. Index providers disagree on edge cases such as whether South Korea is developed or emerging and whether small caps or Canada are included, which explains most of the gap between similar-looking funds. Dividend yields are usually higher than in the US market.
Returns are exposed to currency moves and to political and regulatory risk that US investors do not face at home, and emerging markets add wide swings.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $14,389 in IEFA and $13,559 in IEMG.
| Period | IEFA | IEMG |
|---|---|---|
| 1 month | -1.31% | -5.25% |
| 3 months | 0.48% | 0.51% |
| Year to date | 8.10% | 15.10% |
| 1 year | 8.87% | 14.12% |
| 3 years | 66.45% | 78.81% |
| 5 years | 43.89% | 35.59% |
- IEFA
- IEMG
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- IEFA
- IEMG
IEFA vs IEMG holdings overlap
At least 0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Top 10 holdings
Largest positions by portfolio weight.
IEFA2626 holdings total
IEMG2857 holdings total
| Name | Weight |
|---|---|
| 2330.TWTAIWAN SEMICONDUCTOR MANUFACTURING | 13.79% |
| 005930.KSSAMSUNG ELECTRONICS LTD | 5.67% |
| 000660.KSSK HYNIX | 3.95% |
| 0700.HKTENCENT HOLDINGS | 2.45% |
| 9988.HKALIBABA GROUP HOLDING | 1.74% |
| 2454.TWMEDIATEK | 1.42% |
| 0939.HKCHINA CONSTRUCTION BANK CORP H | 0.79% |
| 005935.KSSAMSUNG ELECTRONICS NON VOTING PRE | 0.75% |
| 2308.TWDELTA ELECTRONICS | 0.74% |
| 2317.TWHON HAI PRECISION INDUSTRY | 0.69% |
Quick verdict
IEFA has the edge on these figures, with more income today, stronger 5-year returns and faster dividend growth. IEMG does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how IEFA vs IEMG fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is IEFA or IEMG better for dividend income?
It depends on your goals. IEFA currently yields 3.40% Trailing Twelve Months (TTM) while IEMG yields 2.32%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between IEFA and IEMG?
iShares Core MSCI EAFE ETF (IEFA) is an ETF listed on CBOE. iShares Core MSCI Emerging Markets ETF (IEMG) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, IEFA or IEMG?
IEFA has the lower expense ratio. IEFA charges 0.07% a year and IEMG charges 0.09%, a difference of $2 a year on a $10,000 investment.
Which has performed better, IEFA or IEMG?
Over the last 5 years, IEFA has the higher total return with dividends reinvested: IEFA returned 43.9% and IEMG returned 35.6%. Past performance does not predict future returns.
Which is riskier, IEFA or IEMG?
Measured by the worst peak-to-trough decline over the last five years, IEMG has been riskier: IEFA fell as much as 30.0% and IEMG as much as 32.6%. Their betas are 0.89 and 1.01.
How often do IEFA and IEMG pay dividends?
Both pay semi-annual. The most recent payments were $1.5781 for IEFA and $0.6584 for IEMG.
How much income does $10,000 in IEFA vs IEMG generate?
At current TTM yields, $10,000 in IEFA would generate roughly $28.34 per month ($340 annually). The same amount in IEMG would produce about $19.36 per month ($232 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both IEFA and IEMG?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare IEFA vs IEMG with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how IEFA and IEMG fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
Related comparisons
For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.