HSCZ vs. RAIIX
Compare and contrast key facts about iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) and Manning & Napier Rainier International Discovery Series (RAIIX).
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. RAIIX is managed by Manning & Napier. It was launched on Mar 27, 2012.
Performance
HSCZ vs. RAIIX - Performance Comparison
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HSCZ vs. RAIIX - 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% |
RAIIX Manning & Napier Rainier International Discovery Series | -2.12% | 27.00% | 0.62% | 6.55% | -30.41% | 14.09% | 41.45% | 24.94% | -18.03% | 42.04% |
Returns By Period
In the year-to-date period, HSCZ achieves a 1.96% return, which is significantly higher than RAIIX's -2.12% return. Over the past 10 years, HSCZ has outperformed RAIIX with an annualized return of 11.13%, while RAIIX has yielded a comparatively lower 7.61% 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%
RAIIX
- 1D
- -0.75%
- 1M
- -12.00%
- YTD
- -2.12%
- 6M
- -2.81%
- 1Y
- 22.60%
- 3Y*
- 8.01%
- 5Y*
- 1.06%
- 10Y*
- 7.61%
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HSCZ vs. RAIIX - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is lower than RAIIX's 1.12% expense ratio.
Return for Risk
HSCZ vs. RAIIX — Risk / Return Rank
HSCZ
RAIIX
HSCZ vs. RAIIX - 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 Manning & Napier Rainier International Discovery Series (RAIIX). 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 | RAIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.92 | 1.41 | +0.51 |
Sortino ratioReturn per unit of downside risk | 2.62 | 1.93 | +0.70 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.28 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.66 | +0.95 |
Martin ratioReturn relative to average drawdown | 10.63 | 6.76 | +3.87 |
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 | RAIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 1.41 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.06 | +0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.45 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.56 | +0.06 |
Correlation
The correlation between HSCZ and RAIIX 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. RAIIX - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 3.19%, more than RAIIX's 2.89% 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% |
RAIIX Manning & Napier Rainier International Discovery Series | 2.89% | 2.83% | 0.14% | 1.31% | 0.00% | 11.60% | 1.67% | 0.28% | 0.38% | 0.13% | 0.00% | 0.05% |
Drawdowns
HSCZ vs. RAIIX - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, smaller than the maximum RAIIX drawdown of -39.87%. Use the drawdown chart below to compare losses from any high point for HSCZ and RAIIX.
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Drawdown Indicators
| HSCZ | RAIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -39.87% | +4.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.88% | -12.00% | +2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -39.87% | +19.76% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -39.87% | +4.98% |
Current DrawdownCurrent decline from peak | -6.61% | -12.00% | +5.39% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -11.23% | +6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.95% | -0.51% |
Volatility
HSCZ vs. RAIIX - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) is 5.41%, while Manning & Napier Rainier International Discovery Series (RAIIX) has a volatility of 6.04%. This indicates that HSCZ experiences smaller price fluctuations and is considered to be less risky than RAIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | RAIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 6.04% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 8.49% | 10.41% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.44% | 15.50% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.37% | 16.78% | -3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 16.85% | -1.20% |