- ISIN
- US46435G8399
- CUSIP
- 46435G839
- Issuer
- iShares
- Inception Date
- Jun 29, 2015
- Region
- Developed Markets (EAFE)
- Category
- Foreign Small & Mid Cap Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI EAFE Small-Cap 100% Hedged to USD Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $223M
Share Price Chart
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Performance
HSCZ Performance Chart
iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) is up 11.9% since the beginning of the year. HSCZ is currently trading at $44 per share. Investors who bought $1,000 worth of HSCZ shares 5 years ago would now be looking at an investment worth $1,725.
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Returns By Period
iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) has returned 11.88% so far this year and 30.22% over the past 12 months. Over the last ten years, HSCZ has returned 12.70% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
iShares Currency Hedged MSCI EAFE Small Cap ETF
- 1D
- 0.15%
- 1M
- 1.31%
- YTD
- 11.88%
- 6M
- 12.30%
- 1Y
- 30.22%
- 3Y*
- 19.80%
- 5Y*
- 11.52%
- 10Y*
- 12.70%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
HSCZ Monthly Returns History
Based on dividend-adjusted daily data since Jul 14, 2015, HSCZ's average daily return is +0.05%, while the average monthly return is +0.92%. At this rate, an investment would double in approximately 6.3 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2020 with a return of +10.6%, while the worst month was Mar 2020 at -16.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 5 months.
On a daily basis, HSCZ closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +6.6%, while the worst single day was Mar 16, 2020 at -11.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.82% | 5.16% | -6.61% | 5.05% | 4.25% | 0.19% | 11.88% | ||||||
| 2025 | 2.42% | -1.00% | -0.80% | 1.06% | 5.88% | 3.18% | 2.96% | 2.52% | 1.69% | 1.90% | 1.84% | 1.64% | 25.74% |
| 2024 | 0.23% | 2.76% | 4.37% | -0.89% | 4.03% | -1.66% | 2.59% | -0.38% | 1.43% | -2.20% | 1.52% | 0.63% | 12.89% |
| 2023 | 7.05% | 0.27% | -1.21% | 2.62% | -1.79% | 3.14% | 2.90% | -1.09% | -2.16% | -3.50% | 5.97% | 4.26% | 17.03% |
| 2022 | -5.05% | -2.93% | 1.39% | -1.95% | -0.29% | -6.87% | 6.53% | -2.57% | -7.09% | 4.88% | 6.16% | -3.07% | -11.46% |
| 2021 | 0.59% | 3.61% | 4.71% | 1.95% | 1.31% | 0.33% | 1.56% | 3.30% | -2.62% | 2.23% | -3.90% | 3.73% | 17.75% |
Benchmark Metrics
iShares Currency Hedged MSCI EAFE Small Cap ETF has an annualized alpha of 2.22%, beta of 0.70, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since July 14, 2015.
- This ETF participated in 73.97% of S&P 500 Index downside but only 73.28% of its upside - more exposed to losses than it benefited from rallies.
- This ETF generated an annualized alpha of 2.22% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.70 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.22%
- Beta
- 0.70
- R²
- 0.62
- Upside Capture
- 73.28%
- Downside Capture
- 73.97%
Expense Ratio
HSCZ has an expense ratio of 0.43%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HSCZ ranks 79 for risk / return — better than 79% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HSCZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.37 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 2.78 | +0.37 |
| Martin ratioReturn relative to average drawdown | 13.45 | 12.44 | +1.01 |
Dividends
Dividend History
iShares Currency Hedged MSCI EAFE Small Cap ETF provided a 2.91% dividend yield over the last twelve months, with an annual payout of $1.27 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.27 | $1.27 | $1.04 | $0.87 | $6.95 | $1.07 | $0.47 | $1.43 | $1.55 | $0.78 | $0.66 | $0.43 |
Dividend yield | 2.91% | 3.25% | 3.26% | 2.98% | 26.91% | 2.90% | 1.46% | 4.66% | 6.15% | 2.52% | 2.57% | 1.75% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Currency Hedged MSCI EAFE Small Cap ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.00 | $0.00 | $0.76 | $1.27 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $1.04 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.47 | $0.00 | $0.00 | $0.00 | $0.00 | $0.40 | $0.87 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.61 | $0.00 | $0.00 | $0.00 | $0.00 | $6.34 | $6.95 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.00 | $0.00 | $0.72 | $1.07 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Currency Hedged MSCI EAFE Small Cap ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Currency Hedged MSCI EAFE Small Cap ETF was 34.89%, occurring on Mar 16, 2020. Recovery took 176 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -34.89%Mar 2020 | 1mo 2d | 8mo 12d | 9mo 14dFeb 2020 - Nov 2020 |
Rate-hike selloffLate 2018 | -20.67%Dec 2018 | 7mo 5d | 10mo 12d | 1y 5moMay 2018 - Nov 2019 |
Bear market2022 | -20.11%Sep 2022 | 1y 21d | 1y 2mo | 2y 3moSep 2021 - Dec 2023 |
2016 correction2016 | -17.04%Feb 2016 | 6mo 25d | 7mo 25d | 1y 2moJul 2015 - Oct 2016 |
2025 selloff2025 | -12.81%Apr 2025 | 19d | 1mo | 1mo 19dMar 2025 - May 2025 |
Drawdown Indicators
| HSCZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -56.78% | +21.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -9.10% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -18.90% | +6.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -25.43% | +5.32% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -33.92% | -0.97% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -10.71% | +6.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 2.03% | +0.22% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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