HSCZ vs. OAKEX
HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) and OAKEX (Oakmark International Small Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, HSCZ returned 12.54%/yr vs 7.98%/yr for OAKEX. A 0.69 correlation means they provide meaningful diversification when combined. HSCZ charges 0.43%/yr vs 1.34%/yr for OAKEX.
Performance
HSCZ vs. OAKEX - Performance Comparison
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Returns By Period
In the year-to-date period, HSCZ achieves a 10.35% return, which is significantly higher than OAKEX's -2.37% return. Over the past 10 years, HSCZ has outperformed OAKEX with an annualized return of 12.54%, while OAKEX has yielded a comparatively lower 7.98% annualized return.
HSCZ
- 1D
- -1.36%
- 1M
- -0.07%
- YTD
- 10.35%
- 6M
- 10.73%
- 1Y
- 27.70%
- 3Y*
- 19.25%
- 5Y*
- 11.06%
- 10Y*
- 12.54%
OAKEX
- 1D
- 0.00%
- 1M
- -1.38%
- YTD
- -2.37%
- 6M
- -2.28%
- 1Y
- 4.87%
- 3Y*
- 10.60%
- 5Y*
- 4.17%
- 10Y*
- 7.98%
HSCZ vs. OAKEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 10.35% | 25.74% | 12.89% | 17.03% | -11.46% | 17.75% | 6.40% | 27.89% | -13.99% | 24.52% |
OAKEX Oakmark International Small Cap Fund | -2.37% | 29.51% | -3.00% | 19.59% | -14.50% | 17.90% | 5.00% | 31.91% | -23.71% | 26.03% |
Correlation
The correlation between HSCZ and OAKEX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015 | 0.69 |
The correlation between HSCZ and OAKEX has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.
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Return for Risk
HSCZ vs. OAKEX — Risk / Return Rank
HSCZ
OAKEX
HSCZ vs. OAKEX - 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 Oakmark International Small Cap Fund (OAKEX). 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 | OAKEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.07 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 0.27 | +2.62 |
| Martin ratioReturn relative to average drawdown | 12.32 | 0.79 | +11.53 |
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Drawdowns
HSCZ vs. OAKEX - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, smaller than the maximum OAKEX drawdown of -70.12%. Use the drawdown chart below to compare losses from any high point for HSCZ and OAKEX.
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Drawdown Indicators
| HSCZ | OAKEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -70.12% | +35.23% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -17.18% | +7.57% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -17.18% | +4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -38.40% | +18.29% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -49.61% | +14.72% |
Current DrawdownCurrent decline from peak | -1.36% | -7.40% | +6.04% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -13.48% | +8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 5.96% | -3.71% |
Volatility
HSCZ vs. OAKEX - Volatility Comparison
iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) and Oakmark International Small Cap Fund (OAKEX) have volatilities of 3.94% and 3.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | OAKEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 3.93% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.76% | 11.75% | -1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.64% | 15.01% | -3.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 17.73% | -4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.47% | 18.62% | -3.15% |
HSCZ vs. OAKEX - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is lower than OAKEX's 1.34% expense ratio.
Dividends
HSCZ vs. OAKEX - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 2.95%, less than OAKEX's 5.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 2.95% | 3.25% | 3.26% | 2.98% | 26.91% | 2.90% | 1.46% | 4.66% | 6.15% | 2.52% | 2.57% | 1.75% |
OAKEX Oakmark International Small Cap Fund | 5.37% | 5.24% | 6.38% | 1.83% | 1.89% | 0.61% | 1.87% | 0.21% | 8.93% | 3.64% | 3.09% | 5.06% |
Frequently Asked Questions
HSCZ and OAKEX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSCZ has higher volatility (3.94%) compared to OAKEX (3.93%). In terms of maximum drawdown, HSCZ dropped -34.89% vs OAKEX's -70.12%.
HSCZ currently has the higher Sharpe Ratio (2.39 vs 0.31), 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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