HSCZ vs. OSMAX
Compare and contrast key facts about iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) and Invesco International Small-Mid Company Fund (OSMAX).
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. OSMAX is managed by Invesco. It was launched on Nov 16, 1997.
Performance
HSCZ vs. OSMAX - Performance Comparison
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HSCZ vs. OSMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 3.75% | 25.74% | 12.89% | 17.03% | -11.46% | 17.75% | 6.40% | 27.89% | -13.99% | 24.52% |
OSMAX Invesco International Small-Mid Company Fund | -4.14% | 16.81% | -6.57% | 12.33% | -31.19% | 13.64% | 24.76% | 19.33% | -9.47% | 37.92% |
Returns By Period
In the year-to-date period, HSCZ achieves a 3.75% return, which is significantly higher than OSMAX's -4.14% return. Over the past 10 years, HSCZ has outperformed OSMAX with an annualized return of 11.32%, while OSMAX has yielded a comparatively lower 5.74% annualized return.
HSCZ
- 1D
- 1.75%
- 1M
- -3.90%
- YTD
- 3.75%
- 6M
- 9.45%
- 1Y
- 29.76%
- 3Y*
- 17.57%
- 5Y*
- 10.22%
- 10Y*
- 11.32%
OSMAX
- 1D
- 2.90%
- 1M
- -6.07%
- YTD
- -4.14%
- 6M
- -4.33%
- 1Y
- 9.10%
- 3Y*
- 2.98%
- 5Y*
- -1.39%
- 10Y*
- 5.74%
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HSCZ vs. OSMAX - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is lower than OSMAX's 1.33% expense ratio.
Return for Risk
HSCZ vs. OSMAX — Risk / Return Rank
HSCZ
OSMAX
HSCZ vs. OSMAX - 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 Invesco International Small-Mid Company Fund (OSMAX). 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 | OSMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 0.65 | +1.42 |
Sortino ratioReturn per unit of downside risk | 2.81 | 1.01 | +1.80 |
Omega ratioGain probability vs. loss probability | 1.44 | 1.13 | +0.32 |
Calmar ratioReturn relative to maximum drawdown | 3.00 | 0.50 | +2.50 |
Martin ratioReturn relative to average drawdown | 12.08 | 1.69 | +10.40 |
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 | OSMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 0.65 | +1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | -0.08 | +0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.34 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.51 | +0.12 |
Correlation
The correlation between HSCZ and OSMAX is 0.73, 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. OSMAX - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 3.14%, less than OSMAX's 21.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF | 3.14% | 3.25% | 3.26% | 2.98% | 26.91% | 2.90% | 1.46% | 4.66% | 6.15% | 2.52% | 2.57% | 1.75% |
OSMAX Invesco International Small-Mid Company Fund | 21.00% | 20.13% | 10.49% | 2.36% | 0.28% | 10.00% | 8.13% | 0.37% | 10.95% | 2.95% | 0.15% | 0.07% |
Drawdowns
HSCZ vs. OSMAX - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, smaller than the maximum OSMAX drawdown of -78.32%. Use the drawdown chart below to compare losses from any high point for HSCZ and OSMAX.
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Drawdown Indicators
| HSCZ | OSMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -78.32% | +43.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.80% | -12.10% | +2.30% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -44.11% | +24.00% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -44.11% | +9.22% |
Current DrawdownCurrent decline from peak | -4.98% | -22.39% | +17.41% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -19.07% | +14.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 3.59% | -1.13% |
Volatility
HSCZ vs. OSMAX - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) is 5.32%, while Invesco International Small-Mid Company Fund (OSMAX) has a volatility of 6.53%. This indicates that HSCZ experiences smaller price fluctuations and is considered to be less risky than OSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | OSMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 6.53% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.66% | 10.40% | -1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.48% | 15.64% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.38% | 17.94% | -4.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 17.08% | -1.43% |