AUSF vs. HSCZ

Last updated Jun 14, 2026

AUSF (Global X Adaptive U.S. Factor ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both exchange-traded funds - AUSF is a Mid Cap Value Equities fund tracking the Adaptive Wealth Strategies U.S. Factor Index, while HSCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index. Both are passively managed. Over the past 5 years, AUSF returned 13.35%/yr vs 10.94%/yr for HSCZ. A 0.67 correlation means they provide meaningful diversification when combined. AUSF charges 0.27%/yr vs 0.43%/yr for HSCZ.

Performance

AUSF vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Adaptive U.S. Factor ETF (AUSF) and iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUSF achieves a 9.27% return, which is significantly lower than HSCZ's 10.99% return.

AUSF

• 1D: 0.70%
• 1M: 2.94%
• YTD: 9.27%
• 6M: 8.68%
• 1Y: 17.75%
• 3Y*: 19.94%
• 5Y*: 13.35%
• 10Y*: —

HSCZ

• 1D: 0.71%
• 1M: 0.48%
• YTD: 10.99%
• 6M: 13.18%
• 1Y: 29.11%
• 3Y*: 18.32%
• 5Y*: 10.94%
• 10Y*: 12.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AUSF vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AUSF Global X Adaptive U.S. Factor ETF	9.27%	13.69%	16.05%	22.26%	-0.18%	27.48%	1.27%	24.06%	-11.18%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	10.99%	25.74%	12.89%	17.03%	-11.46%	17.75%	6.40%	27.89%	-15.75%

Correlation

The correlation between AUSF and HSCZ is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Aug 28, 2018	0.67

The correlation between AUSF and HSCZ shifts across timeframes, from 0.52 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

AUSF vs. HSCZ - Sectors Allocation Comparison

Sectors	AUSF	HSCZ
Financial Services	18.4%	13.3%
Technology	15.3%	10.8%
Industrials	14.4%	24.4%
Healthcare	11.4%	4.8%
Consumer Cyclical	9.3%	10.8%
Communication Services	8.6%	3.1%
Consumer Defensive	7.8%	3.9%
Real Estate	4.6%	9.5%
Utilities	4.4%	2.4%
Energy	3.2%	3.8%
Basic Materials	2.6%	10.8%

Return for Risk

AUSF vs. HSCZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AUSF

AUSF Risk / Return Rank: 57
AUSF Sharpe Ratio Rank: 56
AUSF Sortino Ratio Rank: 56
AUSF Omega Ratio Rank: 52
AUSF Calmar Ratio Rank: 66
AUSF Martin Ratio Rank: 54

HSCZ

HSCZ Risk / Return Rank: 80
HSCZ Sharpe Ratio Rank: 86
HSCZ Sortino Ratio Rank: 87
HSCZ Omega Ratio Rank: 85
HSCZ Calmar Ratio Rank: 67
HSCZ Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUSF vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Adaptive U.S. Factor ETF (AUSF) and iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AUSF	HSCZ	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.45	-0.80
Sortino ratio: Return per unit of downside risk	2.38	3.44	-1.06
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	2.86	2.95	-0.09
Martin ratio: Return relative to average drawdown	8.29	12.57	-4.29

AUSF vs. HSCZ - Sharpe Ratio Comparison

The current AUSF Sharpe Ratio is 1.65, which is lower than the HSCZ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of AUSF and HSCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AUSF vs. HSCZ - Drawdown Comparison

The maximum AUSF drawdown since its inception was -44.25%, which is greater than HSCZ's maximum drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for AUSF and HSCZ.

Drawdown Indicators

	AUSF	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-44.25%	-34.89%	-9.36%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-9.61%	+3.77%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-12.81%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-14.23%	-20.11%	+5.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.89%	—
Current Drawdown Current decline from peak	0.00%	-0.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-4.21%	-4.64%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	2.25%	-0.23%

Volatility

AUSF vs. HSCZ - Volatility Comparison

The current volatility for Global X Adaptive U.S. Factor ETF (AUSF) is 2.70%, while iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) has a volatility of 4.08%. This indicates that AUSF experiences smaller price fluctuations and is considered to be less risky than HSCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUSF	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	4.08%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	6.72%	9.68%	-2.96%
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	11.60%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.66%	13.52%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	15.68%	+3.36%

AUSF vs. HSCZ - Expense Ratio Comparison

AUSF has a 0.27% expense ratio, which is lower than HSCZ's 0.43% expense ratio.

Dividends

AUSF vs. HSCZ - Dividend Comparison

AUSF's dividend yield for the trailing twelve months is around 2.69%, less than HSCZ's 2.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUSF Global X Adaptive U.S. Factor ETF	2.69%	2.78%	2.63%	1.83%	2.51%	2.22%	2.95%	4.02%	1.46%	0.00%	0.00%	0.00%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	2.93%	3.25%	3.26%	2.98%	26.91%	2.90%	1.46%	4.66%	6.15%	2.52%	2.57%	1.75%

Frequently Asked Questions

Can I hold both AUSF and HSCZ in my portfolio?

AUSF and HSCZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUSF or HSCZ?

HSCZ has higher volatility (4.08%) compared to AUSF (2.70%). In terms of maximum drawdown, AUSF dropped -44.25% vs HSCZ's -34.89%.

Which ETF is better, AUSF or HSCZ?

On 5-year performance, AUSF leads with 13.35% vs 10.94% for HSCZ. On fees, AUSF is cheaper at 0.27% per year. On volatility, AUSF has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUSF or HSCZ?

Over the 5-year period, AUSF has performed better with a 13.35% return vs 10.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUSF or HSCZ?

AUSF is cheaper with a 0.27% expense ratio, compared with 0.43% for HSCZ.

Which ETF pays a higher dividend yield, AUSF or HSCZ?

HSCZ has the higher dividend yield at 2.93%, compared with 2.69% for AUSF.

What is the main difference between AUSF and HSCZ?

AUSF is categorized as Mid Cap Value Equities, while HSCZ is Foreign Small & Mid Cap Equities. AUSF tracks Adaptive Wealth Strategies U.S. Factor Index, while HSCZ tracks MSCI EAFE Small-Cap 100% Hedged to USD Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.27% for AUSF and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.45 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.