DXIV vs. HSCZ

Last updated Jul 14, 2026

DXIV (Dimensional International Vector Equity ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both Foreign Small & Mid Cap Equities funds. DXIV is actively managed, while HSCZ is passively managed. Over the past year, DXIV returned 23.46% vs 23.97% for HSCZ. A 0.77 correlation means they provide meaningful diversification when combined. DXIV charges 0.30%/yr vs 0.43%/yr for HSCZ.

Performance

DXIV vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional International Vector Equity ETF (DXIV) 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, DXIV achieves a 9.11% return, which is significantly lower than HSCZ's 10.91% return.

DXIV

• 1D: -1.43%
• 1M: -1.82%
• 6M: 5.85%
• YTD: 9.11%
• 1Y: 23.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HSCZ

• 1D: -0.82%
• 1M: -0.07%
• 6M: 6.51%
• YTD: 10.91%
• 1Y: 23.97%
• 3Y*: 18.66%
• 5Y*: 10.93%
• 10Y*: 11.98%

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

DXIV vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DXIV Dimensional International Vector Equity ETF	9.11%	39.12%	-3.78%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	10.91%	25.74%	3.55%

Correlation

The correlation between DXIV and HSCZ is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.77

The correlation between DXIV and HSCZ has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

DXIV vs. HSCZ - Sectors Allocation Comparison

Sectors	DXIV	HSCZ
Industrials	19.1%	24.2%
Financial Services	17.4%	12.5%
Basic Materials	13.1%	10.2%
Consumer Cyclical	11.6%	12.3%
Energy	8.8%	3.4%
Technology	8.1%	10.8%
Healthcare	6.4%	5.9%
Consumer Defensive	6.1%	4.7%
Communication Services	5.5%	3.8%
Utilities	2.4%	2.2%
Real Estate	1.4%	9.9%

Return for Risk

DXIV vs. HSCZ — Risk / Return Rank

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

DXIV

DXIV Risk / Return Rank: 61
DXIV Sharpe Ratio Rank: 64
DXIV Sortino Ratio Rank: 63
DXIV Omega Ratio Rank: 62
DXIV Calmar Ratio Rank: 55
DXIV Martin Ratio Rank: 60

HSCZ

HSCZ Risk / Return Rank: 76
HSCZ Sharpe Ratio Rank: 81
HSCZ Sortino Ratio Rank: 82
HSCZ Omega Ratio Rank: 81
HSCZ Calmar Ratio Rank: 63
HSCZ Martin Ratio Rank: 72

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.

DXIV vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional International Vector Equity ETF (DXIV) 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.

	DXIV	HSCZ	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.04	-0.37
Sortino ratio: Return per unit of downside risk	2.33	2.89	-0.57
Omega ratio: Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.17	2.51	-0.33
Martin ratio: Return relative to average drawdown	8.34	10.57	-2.23

DXIV vs. HSCZ - Sharpe Ratio Comparison

The current DXIV Sharpe Ratio is 1.67, which is comparable to the HSCZ Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of DXIV 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

DXIV vs. HSCZ - Drawdown Comparison

The maximum DXIV drawdown since its inception was -13.71%, smaller than the maximum HSCZ drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for DXIV and HSCZ.

Drawdown Indicators

	DXIV	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-13.71%	-34.89%	+21.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-9.61%	-1.23%
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	-2.88%	-2.14%	-0.74%
Average Drawdown Average peak-to-trough decline	-2.44%	-4.62%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	2.27%	+0.55%

Volatility

DXIV vs. HSCZ - Volatility Comparison

Dimensional International Vector Equity ETF (DXIV) has a higher volatility of 4.67% compared to iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) at 3.75%. This indicates that DXIV'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

	DXIV	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	3.75%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	10.01%	+2.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	11.81%	+2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.44%	13.52%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.44%	15.33%	+0.11%

DXIV vs. HSCZ - Expense Ratio Comparison

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

Dividends

DXIV vs. HSCZ - Dividend Comparison

DXIV's dividend yield for the trailing twelve months is around 2.43%, less than HSCZ's 3.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXIV Dimensional International Vector Equity ETF	2.43%	2.50%	0.64%	0.00%	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	3.14%	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 DXIV and HSCZ in my portfolio?

DXIV and HSCZ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DXIV or HSCZ?

DXIV has higher volatility (4.67%) compared to HSCZ (3.75%). In terms of maximum drawdown, DXIV dropped -13.71% vs HSCZ's -34.89%.

Which ETF is better, DXIV or HSCZ?

On 1-year performance, HSCZ leads with 23.97% vs 23.46% for DXIV. On fees, DXIV is cheaper at 0.30% per year. On volatility, HSCZ has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DXIV or HSCZ?

Over the 1-year period, HSCZ has performed better with a 23.97% return vs 23.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DXIV or HSCZ?

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

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

HSCZ has the higher dividend yield at 3.14%, compared with 2.43% for DXIV.

What is the main difference between DXIV and HSCZ?

They also come from different issuers: Dimensional Fund Advisors and iShares. Their fees differ too: 0.30% for DXIV and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.04 vs 1.67), 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.