HSCZ vs. GDE
HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - HSCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index, while GDE is a Gold fund actively managed by WisdomTree. HSCZ is passively managed, while GDE is actively managed. Over the past 3 years, HSCZ returned 18.32%/yr vs 42.64%/yr for GDE. A 0.54 correlation means they provide meaningful diversification when combined. HSCZ charges 0.43%/yr vs 0.20%/yr for GDE.
Performance
HSCZ vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, HSCZ achieves a 10.99% return, which is significantly higher than GDE's 3.16% return.
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%
GDE
- 1D
- 0.67%
- 1M
- -9.22%
- YTD
- 3.16%
- 6M
- 4.00%
- 1Y
- 40.98%
- 3Y*
- 42.64%
- 5Y*
- —
- 10Y*
- —
HSCZ vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 10.99% | 25.74% | 12.89% | 17.03% | -4.16% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.16% | 73.76% | 44.79% | 33.85% | -8.58% |
Correlation
The correlation between HSCZ and GDE is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.54 |
The correlation between HSCZ and GDE has been stable across timeframes, ranging from 0.50 to 0.54 - a consistent structural relationship.
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Return for Risk
HSCZ vs. GDE — Risk / Return Rank
HSCZ
GDE
HSCZ vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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.
| HSCZ | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.26 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.83 | +1.12 |
| Martin ratioReturn relative to average drawdown | 12.57 | 5.36 | +7.21 |
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Drawdowns
HSCZ vs. GDE - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for HSCZ and GDE.
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Drawdown Indicators
| HSCZ | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -32.01% | -2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -22.66% | +13.05% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -22.66% | +9.85% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -16.53% | +15.93% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -7.93% | +3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 7.73% | -5.48% |
Volatility
HSCZ vs. GDE - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) is 4.08%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 10.77%. This indicates that HSCZ experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 10.77% | -6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 25.97% | -16.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 29.88% | -18.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 27.09% | -13.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 27.09% | -11.41% |
HSCZ vs. GDE - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
HSCZ vs. GDE - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 2.93%, less than GDE's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.19% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 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
HSCZ and GDE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDE has higher volatility (10.77%) compared to HSCZ (4.08%). In terms of maximum drawdown, HSCZ dropped -34.89% vs GDE's -32.01%.
On 3-year performance, GDE leads with 42.64% vs 18.32% for HSCZ. On fees, GDE is cheaper at 0.20% 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.
Over the 3-year period, GDE has performed better with a 42.64% return vs 18.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.43% for HSCZ.
GDE has the higher dividend yield at 4.19%, compared with 2.93% for HSCZ.
HSCZ is categorized as Foreign Small & Mid Cap Equities, while GDE is Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.43% for HSCZ and 0.20% for GDE.
HSCZ currently has the higher Sharpe Ratio (2.45 vs 1.39), 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.
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