HSCZ vs. GSST
HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) and GSST (Goldman Sachs Ultra Short Bond ETF) 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 GSST is a Ultrashort Bond fund actively managed by Goldman Sachs. HSCZ is passively managed, while GSST is actively managed. Over the past 5 years, HSCZ returned 10.94%/yr vs 3.77%/yr for GSST. At a correlation of -0.03, they often move in opposite directions. HSCZ charges 0.43%/yr vs 0.16%/yr for GSST.
Performance
HSCZ vs. GSST - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HSCZ achieves a 10.99% return, which is significantly higher than GSST's 1.66% 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%
GSST
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 1.66%
- 6M
- 1.89%
- 1Y
- 4.57%
- 3Y*
- 5.52%
- 5Y*
- 3.77%
- 10Y*
- —
HSCZ vs. GSST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 10.99% | 25.74% | 12.89% | 17.03% | -11.46% | 17.75% | 6.40% | 9.69% |
GSST Goldman Sachs Ultra Short Bond ETF | 1.66% | 5.20% | 6.01% | 6.08% | 0.13% | 0.05% | 1.74% | 2.64% |
Correlation
The correlation between HSCZ and GSST is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2019 | -0.03 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HSCZ vs. GSST — Risk / Return Rank
HSCZ
GSST
HSCZ vs. GSST - 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 Goldman Sachs Ultra Short Bond ETF (GSST). 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 | GSST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.50 | ||
| Sortino ratioReturn per unit of downside risk | -13.07 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 3.93 | -2.48 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 29.85 | -26.90 |
| Martin ratioReturn relative to average drawdown | 12.57 | 184.69 | -172.12 |
Loading charts...
Drawdowns
HSCZ vs. GSST - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, which is greater than GSST's maximum drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for HSCZ and GSST.
Loading charts...
Drawdown Indicators
| HSCZ | GSST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -3.51% | -31.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -0.15% | -9.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -0.25% | -12.56% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -1.19% | -18.92% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | 0.00% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -0.16% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 0.02% | +2.23% |
Volatility
HSCZ vs. GSST - Volatility Comparison
iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) has a higher volatility of 4.08% compared to Goldman Sachs Ultra Short Bond ETF (GSST) at 0.13%. This indicates that HSCZ's price experiences larger fluctuations and is considered to be riskier than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HSCZ | GSST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 0.13% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 0.41% | +9.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 0.58% | +11.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 0.63% | +12.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 0.86% | +14.82% |
HSCZ vs. GSST - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is higher than GSST's 0.16% expense ratio.
Dividends
HSCZ vs. GSST - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 2.93%, less than GSST's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 4.31% | 4.56% | 5.45% | 4.98% | 1.97% | 0.71% | 1.12% | 1.66% | 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 GSST have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSCZ has higher volatility (4.08%) compared to GSST (0.13%). In terms of maximum drawdown, HSCZ dropped -34.89% vs GSST's -3.51%.
On 5-year performance, HSCZ leads with 10.94% vs 3.77% for GSST. On fees, GSST is cheaper at 0.16% per year. On volatility, GSST has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HSCZ has performed better with a 10.94% return vs 3.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSST is cheaper with a 0.16% expense ratio, compared with 0.43% for HSCZ.
GSST has the higher dividend yield at 4.31%, compared with 2.93% for HSCZ.
HSCZ is categorized as Foreign Small & Mid Cap Equities, while GSST is Ultrashort Bond. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.43% for HSCZ and 0.16% for GSST.
GSST currently has the higher Sharpe Ratio (7.94 vs 2.45), 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.
Find the right allocation for HSCZ and GSST
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer