ESPO vs. HSCZ

Last updated Jun 14, 2026

ESPO (VanEck Vectors Video Gaming and eSports ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both exchange-traded funds - ESPO is a Large Cap Growth Equities fund tracking the MVIS Global Video Gaming and eSports 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, ESPO returned 5.49%/yr vs 10.94%/yr for HSCZ. A 0.63 correlation means they provide meaningful diversification when combined. ESPO charges 0.55%/yr vs 0.43%/yr for HSCZ.

Performance

ESPO vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Video Gaming and eSports ETF (ESPO) 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, ESPO achieves a -15.10% return, which is significantly lower than HSCZ's 10.99% return.

ESPO

• 1D: -0.29%
• 1M: -2.74%
• YTD: -15.10%
• 6M: -16.17%
• 1Y: -14.01%
• 3Y*: 16.96%
• 5Y*: 5.49%
• 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)

ESPO vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ESPO VanEck Vectors Video Gaming and eSports ETF	-15.10%	25.79%	47.61%	33.64%	-34.71%	-2.13%	83.93%	42.36%	-12.49%
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%	-10.58%

Correlation

The correlation between ESPO and HSCZ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.63

The correlation between ESPO and HSCZ shifts across timeframes, from 0.48 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.

ESPO vs. HSCZ - Sectors Allocation Comparison

Sectors	ESPO	HSCZ
Technology	56.2%	10.8%
Communication Services	29.4%	3.1%
Consumer Cyclical	14.2%	10.8%
Basic Materials	-	10.8%
Consumer Defensive	-	3.9%
Energy	-	3.8%
Financial Services	-	13.3%
Healthcare	-	4.8%
Industrials	-	24.4%
Real Estate	-	9.5%
Utilities	-	2.4%

Return for Risk

ESPO vs. HSCZ — Risk / Return Rank

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

ESPO

ESPO Risk / Return Rank: 4
ESPO Sharpe Ratio Rank: 3
ESPO Sortino Ratio Rank: 4
ESPO Omega Ratio Rank: 4
ESPO Calmar Ratio Rank: 5
ESPO Martin Ratio Rank: 5

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.

ESPO vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Video Gaming and eSports ETF (ESPO) 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.

	ESPO	HSCZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	2.45	-3.24
Sortino ratio: Return per unit of downside risk	-1.02	3.44	-4.46
Omega ratio: Gain probability vs. loss probability	0.88	1.45	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.54	2.95	-3.49
Martin ratio: Return relative to average drawdown	-0.94	12.57	-13.51

ESPO vs. HSCZ - Sharpe Ratio Comparison

The current ESPO Sharpe Ratio is -0.80, which is lower than the HSCZ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of ESPO 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

ESPO vs. HSCZ - Drawdown Comparison

The maximum ESPO drawdown since its inception was -50.99%, which is greater than HSCZ's maximum drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for ESPO and HSCZ.

Drawdown Indicators

	ESPO	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-50.99%	-34.89%	-16.10%
Max Drawdown (1Y) Largest decline over 1 year	-27.81%	-9.61%	-18.20%
Max Drawdown (3Y) Largest decline over 3 years	-27.81%	-12.81%	-15.00%
Max Drawdown (5Y) Largest decline over 5 years	-48.33%	-20.11%	-28.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.89%	—
Current Drawdown Current decline from peak	-27.19%	-0.60%	-26.59%
Average Drawdown Average peak-to-trough decline	-15.06%	-4.64%	-10.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.95%	2.25%	+13.70%

Volatility

ESPO vs. HSCZ - Volatility Comparison

VanEck Vectors Video Gaming and eSports ETF (ESPO) has a higher volatility of 4.42% compared to iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) at 4.08%. This indicates that ESPO'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

	ESPO	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.08%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	14.67%	9.68%	+4.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.83%	11.60%	+7.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.10%	13.52%	+11.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.71%	15.68%	+10.03%

ESPO vs. HSCZ - Expense Ratio Comparison

ESPO has a 0.55% expense ratio, which is higher than HSCZ's 0.43% expense ratio.

Dividends

ESPO vs. HSCZ - Dividend Comparison

ESPO's dividend yield for the trailing twelve months is around 1.47%, less than HSCZ's 2.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESPO VanEck Vectors Video Gaming and eSports ETF	1.47%	1.24%	0.44%	0.96%	0.91%	3.36%	0.12%	0.22%	0.04%	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 ESPO and HSCZ in my portfolio?

ESPO and HSCZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESPO or HSCZ?

ESPO has higher volatility (4.42%) compared to HSCZ (4.08%). In terms of maximum drawdown, ESPO dropped -50.99% vs HSCZ's -34.89%.

Which ETF is better, ESPO or HSCZ?

On 5-year performance, HSCZ leads with 10.94% vs 5.49% for ESPO. On fees, HSCZ is cheaper at 0.43% per year. On volatility, HSCZ has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ESPO or HSCZ?

Over the 5-year period, HSCZ has performed better with a 10.94% return vs 5.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESPO or HSCZ?

HSCZ is cheaper with a 0.43% expense ratio, compared with 0.55% for ESPO.

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

HSCZ has the higher dividend yield at 2.93%, compared with 1.47% for ESPO.

What is the main difference between ESPO and HSCZ?

ESPO is categorized as Large Cap Growth Equities, while HSCZ is Foreign Small & Mid Cap Equities. ESPO tracks MVIS Global Video Gaming and eSports Index, while HSCZ tracks MSCI EAFE Small-Cap 100% Hedged to USD Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.55% for ESPO and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.45 vs -0.80), 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.