Model comparison is a prerequisite task used for several other model management tasks such as model merging, model differencing etc. We present a novel approach to efficiently compare models using programs written in a rule-based model comparison language. As the comparison is done at the model element level, and each element needs to be traversed and compared with its corresponding elements, the execution of these comparison algorithms can be computationally expensive for larger models. In this paper, we present an efficient comparison approach which provides an automated rewriting facility to compare (both homogeneous and heterogeneous) models, based on static program analysis. Using this analysis, we reduce the search space by pre-filtering/indexing model elements, before actually comparing them. Moreover, we reorder the comparison match rules according to the dependencies between these rules. Our experiments demonstrate that the proposed model comparison approach delivers significant performance benefits in terms of execution time compared to the default ECL execution engine.