Average MSCI EAFE return
Over the last 10 years the MSCI EAFE has returned +9.0% a year (CAGR) with dividends reinvested — +5.8% from price alone, and +5.5% after inflation. Since 2002 the annualized figure is +6.4%. Every standard window, through Oct 2, 2026:
| Window | Since | Total return /yr | Price only /yr | Dividends /yr | After inflation /yr |
|---|---|---|---|---|---|
| 1 year | Oct 2, 2025 | +14.04% | +10.26% | +3.78% | +11.07% |
| 3 years | Oct 3, 2023 | +19.44% | +15.75% | +3.69% | +16.22% |
| 5 years | Oct 4, 2021 | +9.49% | +6.09% | +3.40% | +5.44% |
| 10 years | Oct 3, 2016 | +9.00% | +5.84% | +3.17% | +5.54% |
| 15 years | Oct 3, 2011 | +8.71% | +5.51% | +3.21% | +5.93% |
| 20 years | Oct 2, 2006 | +5.27% | +2.15% | +3.12% | +2.66% |
| 25.1 years (all data) | Aug 27, 2001 | +6.40% | +3.60% | +2.80% | +3.75% |
Annualized (CAGR) from EFA daily closes at exact anniversary dates; inflation adjustment uses CPI (CPIAUCSL). The dividends column is the reinvested-dividend contribution — total return minus price return.
The years behind the average#
“Average” hides how lumpy the ride is: across 24 full calendar years, the market finished positive 71% of the time, with a best year of +39.8% (2003) and a worst of -41.0% (2008). The arithmetic mean of single years is +8.3% and the median +11.4% — but compounding through the crashes brings the realized annualized return to +6.4%. Almost no individual year lands near the average.
Related#
See each year individually on MSCI EAFE returns by year, or check this year's YTD so far.
More on MSCI EAFE
- Returns by year+8.3%
- Monthly returns+0.1%
- Weekly returns-1.5%
- Trailing returns+10.3%
- YTD return+8.3%
- Drawdown from high−4.5%