AVDS vs. HSCZ

Last updated Jun 4, 2026

AVDS (Avantis International Small Cap Equity ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both Foreign Small & Mid Cap Equities funds. AVDS is actively managed, while HSCZ is passively managed. Over the past year, AVDS returned 32.62% vs 28.62% for HSCZ. Their correlation of 0.84 suggests significant overlap in exposure. AVDS charges 0.30%/yr vs 0.43%/yr for HSCZ.

Performance

AVDS vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Small Cap Equity ETF (AVDS) 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, AVDS achieves a 12.02% return, which is significantly higher than HSCZ's 10.57% return.

AVDS

• 1D: -1.09%
• 1M: 2.73%
• YTD: 12.02%
• 6M: 15.40%
• 1Y: 32.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HSCZ

• 1D: -0.17%
• 1M: 4.13%
• YTD: 10.57%
• 6M: 13.25%
• 1Y: 28.62%
• 3Y*: 18.68%
• 5Y*: 10.97%
• 10Y*: 11.62%

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

AVDS vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVDS Avantis International Small Cap Equity ETF	12.02%	38.18%	3.20%	3.79%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	10.57%	25.74%	12.89%	4.79%

Correlation

The correlation between AVDS and HSCZ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 21, 2023	0.84

The correlation between AVDS and HSCZ has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

AVDS vs. HSCZ - Sectors Allocation Comparison

Sectors	AVDS	HSCZ
Industrials	22.6%	23.3%
Basic Materials	17.0%	13.7%
Consumer Cyclical	12.8%	8.1%
Financial Services	12.1%	16.0%
Technology	9.7%	9.8%
Energy	6.1%	4.1%
Consumer Defensive	5.1%	2.9%
Healthcare	4.5%	3.3%
Real Estate	3.2%	9.6%
Utilities	3.2%	3.5%
Communication Services	2.9%	3.5%

Return for Risk

AVDS vs. HSCZ — Risk / Return Rank

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

AVDS

AVDS Risk / Return Rank: 61
AVDS Sharpe Ratio Rank: 65
AVDS Sortino Ratio Rank: 65
AVDS Omega Ratio Rank: 64
AVDS Calmar Ratio Rank: 52
AVDS Martin Ratio Rank: 57

HSCZ

HSCZ Risk / Return Rank: 73
HSCZ Sharpe Ratio Rank: 78
HSCZ Sortino Ratio Rank: 80
HSCZ Omega Ratio Rank: 80
HSCZ Calmar Ratio Rank: 60
HSCZ Martin Ratio Rank: 69

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.

AVDS vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Small Cap Equity ETF (AVDS) 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.

	AVDS	HSCZ	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.57	-0.36
Sortino ratio: Return per unit of downside risk	3.04	3.63	-0.59
Omega ratio: Gain probability vs. loss probability	1.40	1.48	-0.09
Calmar ratio: Return relative to maximum drawdown	2.63	2.99	-0.36
Martin ratio: Return relative to average drawdown	10.24	12.84	-2.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVDS vs. HSCZ - Sharpe Ratio Comparison

The current AVDS Sharpe Ratio is 2.21, which is comparable to the HSCZ Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of AVDS 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.

Sharpe Ratios by Period

	AVDS	HSCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	2.57	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	0.67	+0.60

Drawdowns

AVDS vs. HSCZ - Drawdown Comparison

The maximum AVDS drawdown since its inception was -13.51%, smaller than the maximum HSCZ drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for AVDS and HSCZ.

Drawdown Indicators

	AVDS	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-13.51%	-34.89%	+21.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.44%	-9.61%	-2.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.89%	—
Current Drawdown Current decline from peak	-1.73%	-0.98%	-0.75%
Average Drawdown Average peak-to-trough decline	-2.84%	-4.65%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	2.23%	+0.96%

Volatility

AVDS vs. HSCZ - Volatility Comparison

Avantis International Small Cap Equity ETF (AVDS) has a higher volatility of 4.46% compared to iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) at 3.44%. This indicates that AVDS's price experiences larger fluctuations and is considered to be riskier than HSCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVDS	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	3.44%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	12.43%	9.20%	+3.23%
Volatility (1Y) Calculated over the trailing 1-year period	14.87%	11.21%	+3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.36%	13.46%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	15.66%	-0.30%

AVDS vs. HSCZ - Expense Ratio Comparison

AVDS has a 0.30% expense ratio, which is lower than HSCZ's 0.43% expense ratio.

Dividends

AVDS vs. HSCZ - Dividend Comparison

AVDS's dividend yield for the trailing twelve months is around 2.16%, less than HSCZ's 2.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDS Avantis International Small Cap Equity ETF	2.16%	2.37%	3.07%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	2.94%	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 AVDS and HSCZ in my portfolio?

AVDS and HSCZ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVDS or HSCZ?

AVDS has higher volatility (4.46%) compared to HSCZ (3.44%). In terms of maximum drawdown, AVDS dropped -13.51% vs HSCZ's -34.89%.

Which ETF is better, AVDS or HSCZ?

On 1-year performance, AVDS leads with 32.62% vs 28.62% for HSCZ. On fees, AVDS is cheaper at 0.30% per year. On volatility, HSCZ has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVDS or HSCZ?

Over the 1-year period, AVDS has performed better with a 32.62% return vs 28.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVDS or HSCZ?

AVDS is cheaper with a 0.30% expense ratio, compared with 0.43% for HSCZ.

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

HSCZ has the higher dividend yield at 2.94%, compared with 2.16% for AVDS.

What is the main difference between AVDS and HSCZ?

They also come from different issuers: Avantis and iShares. Their fees differ too: 0.30% for AVDS and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.57 vs 2.21), 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.