SPDR MSCI EAFE Fossil Fuel Reserves Free ETF (EFAX) Performance
EFAX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.0% since Dec 31, 2025
- 1 year
- +8.9% total return
- 5 years
- +7.4% a year
- Since first price
- +8.6% a year since 2016
EFAX trailing returns vs SPY, QQQ, AGG
| Period | EFAX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.4% | −2.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.0% | −1.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.4% | +0.9% | +7.8% | +8.4% | −1.5% |
| YTD | +6.0% | +4.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.9% | +5.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +67.5%+18.8%/yr | +53.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +43.1%+7.4%/yr | +23.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionOct 25, 2016 | +127.7%+8.6%/yr | +74.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EFAX vs SPY
From Oct 25, 2016: EFAX grew to $22,773, SPY to $41,551.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EFAX returns by calendar year
7 of 9 full years positive. Best 2025 (+31.3%), worst 2022 (−16.7%). 2026 is year to date.
EFAX annual returns table
| Year | EFAX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.0% | −12.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +31.3% | −13.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.8% | −9.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.0% | −12.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −16.7% | −30.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +10.5% | −7.2% | +28.7% | +27.4% | −1.8% |
| 2020 | +9.6% | −32.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +23.5% | −7.3% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.8% | −22.3% | −4.6% | −0.1% | +0.1% |
| 2017 | +23.9% | −4.1% | +21.7% | +32.7% | +3.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EFAX largest drawdowns
Now 6.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 17, 2020 | −32.5% | Mar 18, 2020 | Nov 9, 2020 | 2 months | 10 months |
| Sep 7, 2021 | −31.7% | Sep 27, 2022 | Mar 6, 2024 | 1.1 years | 2.5 years |
| Jan 24, 2018 | −22.3% | Dec 24, 2018 | Jan 17, 2020 | 11 months | 2.0 years |
| Mar 19, 2025 | −13.5% | Apr 8, 2025 | Apr 28, 2025 | 20 days | 40 days |
| Feb 25, 2026 | −12.4% | Mar 27, 2026 | Jun 15, 2026 | 30 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EFAX risk statistics
| Statistic | 3 years | 5 years | Since 2016 |
|---|---|---|---|
| Annualized return | +18.0% | +8.4% | +8.9% |
| Volatility (annualized) | 12.5% | 15.9% | 15.3% |
| Sharpe ratio | 1.05 | 0.37 | 0.48 |
| Sortino ratio | 1.67 | 0.54 | 0.72 |
| Best month | +8.8% | +13.2% | +14.1% |
| Worst month | −9.0% | −9.0% | −14.2% |
| Best 12 months | +31.6% | +31.6% | +46.1% |
| Worst 12 months | +4.8% | −27.0% | −27.0% |
| Positive months | 72% | 62% | 63% |
| Beta vs S&P 500 | 0.66 | 0.80 | — |
| Correlation with S&P 500 | 0.65 | 0.79 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EFAX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 109 | −27.0% | +10.9% | +46.1% | 73% |
| 3-year (a year) | 85 | −2.5% | +6.2% | +22.3% | 93% |
| 5-year (a year) | 61 | −1.3% | +7.3% | +11.7% | 97% |
| 10-year (a year) | 1 | +8.6% | +8.6% | +8.6% | 100% |
Every holding period starting at a month-end since 2016. Returns for 3 years and longer are annualized.
EFAX performance overview
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF (EFAX) returned +8.9% over the past year and +7.4% a year over five years, with distributions reinvested. Since its first recorded price in 2016 it has returned +8.6% a year, turning $10,000 into about $22,773. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.5%, from Jan 17, 2020 to Mar 18, 2020, and it took 8 months to get back to the old high. EFAX finished 7 of its 9 full calendar years with a gain; the best year was 2025 (+31.3%) and the worst 2022 (−16.7%). Volatility has been 15.3% a year.
Related: EFAX chart, EFAX holdings, EFAX dividends. See the EFAX overview for the latest quote and fund facts.
EFAX performance FAQ
What is the EFAX return over the past year?
EFAX returned +8.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5.3%.
What is the average annual return of EFAX?
EFAX has returned +7.4% a year over 5 years, +8.6% a year since October 25, 2016 (total return, distributions reinvested).
How much would $10,000 invested in EFAX be worth?
$10,000 invested in EFAX at its first recorded close on October 25, 2016 would be worth about $22,773 on October 23, 2026 with distributions reinvested.
What was the worst year for EFAX?
The worst calendar year was 2022, with a total return of −16.7%. The best was 2025 at +31.3%.
What is the biggest drawdown of EFAX?
The largest peak-to-trough decline was −32.5% between January 17, 2020 and March 18, 2020. It recovered to the old high on November 9, 2020, 8 months after the bottom.
How volatile is EFAX?
Over the past 3 years EFAX had an annualized volatility of 12.5% and a Sharpe ratio of 1.05 (excess return over 1–3 month T-bills per unit of risk).