HSCZ vs. ISCAX
Compare and contrast key facts about iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) and Federated Hermes International Small-Mid Company Fund (ISCAX).
HSCZ is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Small-Cap 100% Hedged to USD Index. It was launched on Jun 29, 2015. ISCAX is managed by Federated. It was launched on Feb 27, 1996.
Performance
HSCZ vs. ISCAX - Performance Comparison
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HSCZ vs. ISCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 1.96% | 25.74% | 12.89% | 17.03% | -11.46% | 17.75% | 6.40% | 27.89% | -13.99% | 24.52% |
ISCAX Federated Hermes International Small-Mid Company Fund | -3.05% | 34.01% | 5.67% | 12.61% | -23.62% | 5.98% | 31.26% | 31.76% | -18.88% | 34.73% |
Returns By Period
In the year-to-date period, HSCZ achieves a 1.96% return, which is significantly higher than ISCAX's -3.05% return. Over the past 10 years, HSCZ has outperformed ISCAX with an annualized return of 11.13%, while ISCAX has yielded a comparatively lower 8.69% annualized return.
HSCZ
- 1D
- 2.14%
- 1M
- -6.61%
- YTD
- 1.96%
- 6M
- 7.54%
- 1Y
- 27.45%
- 3Y*
- 16.89%
- 5Y*
- 9.84%
- 10Y*
- 11.13%
ISCAX
- 1D
- -1.61%
- 1M
- -11.91%
- YTD
- -3.05%
- 6M
- -2.49%
- 1Y
- 20.20%
- 3Y*
- 13.19%
- 5Y*
- 4.79%
- 10Y*
- 8.69%
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HSCZ vs. ISCAX - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is lower than ISCAX's 1.24% expense ratio.
Return for Risk
HSCZ vs. ISCAX — Risk / Return Rank
HSCZ
ISCAX
HSCZ vs. ISCAX - 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 Federated Hermes International Small-Mid Company Fund (ISCAX). 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.
| HSCZ | ISCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.92 | 1.25 | +0.67 |
Sortino ratioReturn per unit of downside risk | 2.62 | 1.77 | +0.86 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.25 | +0.16 |
Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.93 | +0.68 |
Martin ratioReturn relative to average drawdown | 10.63 | 8.49 | +2.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HSCZ | ISCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 1.25 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.29 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.51 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.48 | +0.14 |
Correlation
The correlation between HSCZ and ISCAX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
HSCZ vs. ISCAX - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 3.19%, less than ISCAX's 7.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 3.19% | 3.25% | 3.26% | 2.98% | 26.91% | 2.90% | 1.46% | 4.66% | 6.15% | 2.52% | 2.57% | 1.75% |
ISCAX Federated Hermes International Small-Mid Company Fund | 7.68% | 7.45% | 0.00% | 0.84% | 0.79% | 7.79% | 5.80% | 4.89% | 15.53% | 6.51% | 0.92% | 12.23% |
Drawdowns
HSCZ vs. ISCAX - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, smaller than the maximum ISCAX drawdown of -71.55%. Use the drawdown chart below to compare losses from any high point for HSCZ and ISCAX.
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Drawdown Indicators
| HSCZ | ISCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -71.55% | +36.66% |
Max Drawdown (1Y)Largest decline over 1 year | -9.88% | -11.91% | +2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -40.33% | +20.22% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -40.33% | +5.44% |
Current DrawdownCurrent decline from peak | -6.61% | -11.91% | +5.30% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -22.33% | +17.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 3.00% | -0.56% |
Volatility
HSCZ vs. ISCAX - Volatility Comparison
iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) has a higher volatility of 5.41% compared to Federated Hermes International Small-Mid Company Fund (ISCAX) at 4.86%. This indicates that HSCZ's price experiences larger fluctuations and is considered to be riskier than ISCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | ISCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 4.86% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 8.49% | 10.44% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.44% | 17.22% | -2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.37% | 17.28% | -3.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 17.29% | -1.64% |