PIZvsEFAETF Comparison
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Invesco DWA Developed Markets Momentum ETF (PIZ) and iShares MSCI EAFE ETF (EFA) belong to the same industry segment: DM Large & Mid Cap. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. PIZ is more expensive with a Total Expense Ratio (TER) of 0.8%, versus 0.32% for EFA. PIZ is up 4.44% year-to-date (YTD) with +$74M in YTD flows. EFA performs better with 9.65% YTD performance, and +$794M in YTD flows. Run a side-by-side ETF comparison of PIZ and EFA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PIZ vs EFA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIZ EFA | -4.26%-1.14% | -3.79%-0.32% | +4.44%+9.65% | +8.14%+13.65% | +85.82%+65.11% | +42.44%+52.36% |
| Flows | PIZ EFA | -$20M+$312M | -$103M+$187M | +$74M+$794M | +$127M+$2.04B | +$371M+$5.89B | +$293M+$2.77B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIZ EFA | +20.61%+12.52% | +23.27%+15.86% | +18.39%+15.04% | +18.70%+16.32% |
| Max drawdown | PIZ EFA | -8.77%-5.66% | -15.97%-11.39% | -15.97%-13.68% | -39.71%-29.16% |
| Max drawdown duration | PIZ EFA | 60d52d | 163d107d | 163d41d | 1176d828d |
Trading data
PIZ | EFA | |
Last sale 10/16/2026 at 1:30 PM | $50.22 | $103.55 |
| Previous close 10/15/2026 | $50.37 | $103.67 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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PIZ | EFA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
PIZ | EFA | |
|---|---|---|
| Last price | $50.22 | $103.55 |
| 1D performance | -0.30% | -0.12% |
| AuM | $610.55 M | $76.80 B |
| E/R | 0.8% | 0.32% |
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Exposure
Countries
PIZ
Canada
20.04%
Japan
14.44%
Republic of Korea
7.82%
Switzerland
7.66%
Other
50.04%
EFA
Japan
23.74%
United Kingdom
13.75%
Switzerland
9.84%
Germany
8.75%
France
8.69%
Other
35.23%
Sectors
PIZ
Finance
46.5%
Industrials
25.13%
Technology
14.41%
Other
13.96%
EFA
Finance
27.68%
Industrials
15.81%
Technology
12.97%
Healthcare
9.69%
Consumer Non-Cycl.
7.95%
Non-Energy Materi.
7.03%
Other
18.88%
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Diversification
PIZ
Total weight of top 15 holdings out of 15
34.59%
EFA
Total weight of top 15 holdings out of 15
18.29%
Top 15 holdings
Data as of August 31, 2026
PIZ
Constellation Software, Inc.
3.42%
Bombardier, Inc.
2.98%
Toromont Industries Ltd.
2.66%
BELIMO Holding AG
2.52%
Lion Finance Group Plc
2.48%
The Toronto-Dominion Bank
2.46%
HD Hyundai Electric Co., Ltd.
2.40%
Royal Bank of Canada
2.27%
Investor AB
2.24%
Swedbank AB
1.94%
Unipol Assicurazioni SpA
1.93%
SK hynix, Inc.
1.90%
InterContinental Hotels Group Plc
1.88%
Oversea-Chinese Banking Corp. Ltd.
1.78%
BPER Banca SpA
1.76%
EFA
ASML Holding NV
2.93%
HSBC Holdings Plc
1.59%
Roche Holding AG
1.37%
Novartis AG
1.25%
Shell Plc
1.13%
Nestlé SA
1.12%
Mitsubishi UFJ Financial Group, Inc.
1.10%
AstraZeneca PLC
1.10%
BHP Group Ltd.
1.08%
Siemens AG
1.07%
SAP SE
1.01%
Banco Santander SA
0.94%
Allianz SE
0.89%
Commonwealth Bank of Australia
0.86%
Schneider Electric SE
0.84%
Frequently asked questions about PIZ and EFA
How have the PIZ and EFA ETFs performed in 2026?
As of October 16, 2026, PIZ is up 4.44% year-to-date (YTD), while EFA has returned 9.65%. That puts EFA better performer ahead so far this year.
Which ETF is attracting more investor money: PIZ or EFA?
Year-to-date, the PIZ ETF saw +$74M in flows, compared to +$794M for EFA.
Which ETF is more volatile: PIZ or EFA?
Over the past year, PIZ had a volatility of 23.27%, while EFA experienced 15.86%.
Which ETF is bigger: PIZ or EFA?
As of October 16, 2026, PIZ holds $610.55 M in assets under management (AUM), while EFA manages $76.80 B.
What sectors do the PIZ and EFA ETFs invest in?
PIZ leans toward sectors like Finance, Industrials and Technology. Meanwhile, EFA focuses on Finance, Industrials and Technology.
What are the top holdings of the PIZ ETF and EFA ETF?
PIZ top holdings include Constellation Software, Inc., Bombardier, Inc. and Toromont Industries Ltd.. EFA holds in its top three: ASML Holding NV, HSBC Holdings Plc and Roche Holding AG.
Which ETF is more diversified: PIZ or EFA?
PIZ holds 100 securities with 34.59% of its assets in the top 15. EFA has 658 securities and a top 15 weight of 18.29%.
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Latest news about PIZ & EFA
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