DISV vs. HSCZ

Last updated Jun 4, 2026

DISV (Dimensional International Small Cap Value ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both Foreign Small & Mid Cap Equities funds. DISV is actively managed, while HSCZ is passively managed. Over the past 3 years, DISV returned 24.35%/yr vs 18.68%/yr for HSCZ. Their correlation of 0.83 suggests significant overlap in exposure. DISV charges 0.42%/yr vs 0.43%/yr for HSCZ.

Performance

DISV vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Small Cap Value ETF (DISV) and iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DISV having a 10.83% return and HSCZ slightly lower at 10.57%.

DISV

• 1D: -1.06%
• 1M: 3.34%
• YTD: 10.83%
• 6M: 15.28%
• 1Y: 34.34%
• 3Y*: 24.35%
• 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)

DISV vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DISV Dimensional International Small Cap Value ETF	10.83%	47.42%	5.87%	19.52%	-9.72%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	10.57%	25.74%	12.89%	17.03%	-5.60%

Correlation

The correlation between DISV and HSCZ is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Mar 25, 2022	0.83

The correlation between DISV and HSCZ has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

DISV vs. HSCZ - Sectors Allocation Comparison

Sectors	DISV	HSCZ
Financial Services	18.6%	16.0%
Basic Materials	18.3%	13.7%
Industrials	18.1%	23.3%
Consumer Cyclical	15.3%	8.1%
Energy	9.2%	4.1%
Consumer Defensive	4.3%	2.9%
Technology	4.1%	9.8%
Communication Services	3.4%	3.5%
Real Estate	3.2%	9.6%
Healthcare	3.0%	3.3%
Utilities	2.6%	3.5%

Return for Risk

DISV vs. HSCZ — Risk / Return Rank

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

DISV

DISV Risk / Return Rank: 65
DISV Sharpe Ratio Rank: 72
DISV Sortino Ratio Rank: 71
DISV Omega Ratio Rank: 69
DISV Calmar Ratio Rank: 54
DISV Martin Ratio Rank: 58

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.

DISV vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Small Cap Value ETF (DISV) 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.

	DISV	HSCZ	Difference
Sharpe ratio Return per unit of total volatility	2.39	2.57	-0.17
Sortino ratio Return per unit of downside risk	3.28	3.63	-0.35
Omega ratio Gain probability vs. loss probability	1.43	1.48	-0.06
Calmar ratio Return relative to maximum drawdown	2.72	2.99	-0.27
Martin ratio Return relative to average drawdown	10.27	12.84	-2.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DISV vs. HSCZ - Sharpe Ratio Comparison

The current DISV Sharpe Ratio is 2.39, which is comparable to the HSCZ Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of DISV 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

	DISV	HSCZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.57	-0.17
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	0.93	0.67	+0.26

Drawdowns

DISV vs. HSCZ - Drawdown Comparison

The maximum DISV drawdown since its inception was -26.77%, smaller than the maximum HSCZ drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for DISV and HSCZ.

Drawdown Indicators

	DISV	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-26.77%	-34.89%	+8.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.69%	-9.61%	-3.08%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-12.81%	-1.34%
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	-2.48%	-0.98%	-1.50%
Average Drawdown Average peak-to-trough decline	-4.90%	-4.65%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	2.23%	+1.12%

Volatility

DISV vs. HSCZ - Volatility Comparison

Dimensional International Small Cap Value ETF (DISV) has a higher volatility of 4.16% compared to iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) at 3.44%. This indicates that DISV'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

	DISV	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	3.44%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	9.20%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.45%	11.21%	+3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	13.46%	+3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	15.66%	+1.70%

DISV vs. HSCZ - Expense Ratio Comparison

DISV has a 0.42% expense ratio, which is lower than HSCZ's 0.43% expense ratio.

Dividends

DISV vs. HSCZ - Dividend Comparison

DISV's dividend yield for the trailing twelve months is around 2.39%, less than HSCZ's 2.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DISV Dimensional International Small Cap Value ETF	2.39%	2.69%	2.77%	2.73%	1.23%	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 DISV and HSCZ in my portfolio?

DISV and HSCZ have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DISV or HSCZ?

DISV has higher volatility (4.16%) compared to HSCZ (3.44%). In terms of maximum drawdown, DISV dropped -26.77% vs HSCZ's -34.89%.

Which ETF is better, DISV or HSCZ?

On 3-year performance, DISV leads with 24.35% vs 18.68% for HSCZ. On fees, DISV is cheaper at 0.42% 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, DISV or HSCZ?

Over the 3-year period, DISV has performed better with a 24.35% return vs 18.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DISV or HSCZ?

DISV is cheaper with a 0.42% expense ratio, compared with 0.43% for HSCZ.

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

HSCZ has the higher dividend yield at 2.94%, compared with 2.39% for DISV.

What is the main difference between DISV and HSCZ?

They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.42% for DISV and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.57 vs 2.39), 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.