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HSCZ vs. HLI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSCZ vs. HLI

Last updated Jun 14, 2026

HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) is Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index, while HLI (Houlihan Lokey, Inc.) is a stock. Over the past 10 years, HSCZ returned 12.35%/yr vs 21.76%/yr for HLI. At a 0.42 correlation, their price movements are largely independent.

Performance

HSCZ vs. HLI - Performance Comparison

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

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Returns By Period

In the year-to-date period, HSCZ achieves a 10.99% return, which is significantly higher than HLI's -20.15% return. Over the past 10 years, HSCZ has underperformed HLI with an annualized return of 12.35%, while HLI has yielded a comparatively higher 21.76% annualized 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%

HLI

1D
1.67%
1M
-8.19%
YTD
-20.15%
6M
-22.50%
1Y
-18.32%
3Y*
16.18%
5Y*
13.63%
10Y*
21.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSCZ vs. HLI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%-13.99%24.52%
HLI
Houlihan Lokey, Inc.		-20.15%1.64%47.04%40.67%-13.88%57.04%40.61%36.33%-17.20%49.30%

Correlation

The correlation between HSCZ and HLI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Aug 13, 2015

0.42

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Currency Hedged MSCI EAFE Small Cap ETF

Houlihan Lokey, Inc.

Often compared with HSCZ:
HSCZ vs. HEFAHSCZ vs. MSMLXHSCZ vs. ISVLHSCZ vs. EWUSHSCZ vs. HEWJHSCZ vs. HEZUHSCZ vs. DEMSX
Often compared with HLI:
HLI vs. TFII.TOHLI vs. COSTHLI vs. SPYHLI vs. IBKRHLI vs. BAHHLI vs. JEFHLI vs. AVGO

Return for Risk

HSCZ vs. HLI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HSCZ
HSCZ Risk / Return Rank: 8080
Overall Rank
HSCZ Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
HSCZ Sortino Ratio Rank: 8787
Sortino Ratio Rank
HSCZ Omega Ratio Rank: 8585
Omega Ratio Rank
HSCZ Calmar Ratio Rank: 6767
Calmar Ratio Rank
HSCZ Martin Ratio Rank: 7575
Martin Ratio Rank
HLI
HLI Risk / Return Rank: 1515
Overall Rank
HLI Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
HLI Sortino Ratio Rank: 1313
Sortino Ratio Rank
HLI Omega Ratio Rank: 1313
Omega Ratio Rank
HLI Calmar Ratio Rank: 2121
Calmar Ratio Rank
HLI Martin Ratio Rank: 1818
Martin Ratio Rank
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.

HSCZ vs. HLI - 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 Houlihan Lokey, Inc. (HLI). 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.

HSCZHLIDifference
Sharpe ratioReturn per unit of total volatility
2.45
-0.78

+3.22

Sortino ratioReturn per unit of downside risk
3.44
-0.94

+4.37

Omega ratioGain probability vs. loss probability

1.45

0.88

+0.57

Calmar ratioReturn relative to maximum drawdown

2.95

-0.59

+3.54

Martin ratioReturn relative to average drawdown

12.57

-1.12

+13.69

HSCZ vs. HLI - Sharpe Ratio Comparison

The current HSCZ Sharpe Ratio is 2.45, which is higher than the HLI Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of HSCZ and HLI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HSCZ vs. HLI - Drawdown Comparison

The maximum HSCZ drawdown since its inception was -34.89%, roughly equal to the maximum HLI drawdown of -36.57%. Use the drawdown chart below to compare losses from any high point for HSCZ and HLI.

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Drawdown Indicators

HSCZHLIDifference

Max Drawdown

Largest peak-to-trough decline

-34.89%

-36.57%

+1.68%

Max Drawdown (1Y)

Largest decline over 1 year

-9.61%

-34.38%

+24.77%

Max Drawdown (3Y)

Largest decline over 3 years

-12.81%

-34.38%

+21.57%

Max Drawdown (5Y)

Largest decline over 5 years

-20.11%

-36.57%

+16.46%

Max Drawdown (10Y)

Largest decline over 10 years

-34.89%

-36.57%

+1.68%

Current Drawdown

Current decline from peak

-0.60%

-33.28%

+32.68%

Average Drawdown

Average peak-to-trough decline

-4.64%

-9.59%

+4.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

18.07%

-15.82%

Volatility

HSCZ vs. HLI - Volatility Comparison

The current volatility for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) is 4.08%, while Houlihan Lokey, Inc. (HLI) has a volatility of 8.26%. This indicates that HSCZ experiences smaller price fluctuations and is considered to be less risky than HLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HSCZHLIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.08%

8.26%

-4.18%

Volatility (6M)

Calculated over the trailing 6-month period

9.68%

19.38%

-9.70%

Volatility (1Y)

Calculated over the trailing 1-year period

11.60%

26.11%

-14.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.52%

27.97%

-14.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.68%

26.89%

-11.21%

Dividends

HSCZ vs. HLI - Dividend Comparison

HSCZ's dividend yield for the trailing twelve months is around 2.93%, more than HLI's 1.81% yield.

PositionTTM20252024202320222021202020192018201720162015
HLI
Houlihan Lokey, Inc.		1.81%1.36%1.30%1.82%2.32%1.56%1.90%2.46%2.74%1.76%2.12%0.57%
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 HLI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HLI has higher volatility (8.26%) compared to HSCZ (4.08%). In terms of maximum drawdown, HSCZ dropped -34.89% vs HLI's -36.57%.

HSCZ currently has the higher Sharpe Ratio (2.45 vs -0.78), 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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