HSCZ vs. VGIT
HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both exchange-traded funds - HSCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index, while VGIT is a Government Bonds fund tracking the Bloomberg U.S. Treasury 3-10 Year Index. Both are passively managed. Over the past 10 years, HSCZ returned 12.35%/yr vs 1.20%/yr for VGIT. At a correlation of -0.15, they often move in opposite directions. HSCZ charges 0.43%/yr vs 0.03%/yr for VGIT.
Performance
HSCZ vs. VGIT - Performance Comparison
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Returns By Period
In the year-to-date period, HSCZ achieves a 10.99% return, which is significantly higher than VGIT's -0.29% return. Over the past 10 years, HSCZ has outperformed VGIT with an annualized return of 12.35%, while VGIT has yielded a comparatively lower 1.20% 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%
VGIT
- 1D
- -0.12%
- 1M
- 0.16%
- YTD
- -0.29%
- 6M
- 0.04%
- 1Y
- 3.43%
- 3Y*
- 3.69%
- 5Y*
- 0.01%
- 10Y*
- 1.20%
HSCZ vs. VGIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGIT Vanguard Intermediate-Term Treasury ETF | -0.29% | 7.34% | 1.39% | 4.28% | -10.53% | -2.64% | 7.71% | 6.19% | 1.35% | 1.70% |
Correlation
The correlation between HSCZ and VGIT is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015 | -0.15 |
The correlation between HSCZ and VGIT shifts across timeframes, from -0.15 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HSCZ vs. VGIT — Risk / Return Rank
HSCZ
VGIT
HSCZ vs. VGIT - 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 Vanguard Intermediate-Term Treasury ETF (VGIT). 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 | VGIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.17 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.13 | +1.83 |
| Martin ratioReturn relative to average drawdown | 12.57 | 3.18 | +9.40 |
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Drawdowns
HSCZ vs. VGIT - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, which is greater than VGIT's maximum drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for HSCZ and VGIT.
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Drawdown Indicators
| HSCZ | VGIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -16.05% | -18.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -2.83% | -6.78% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -4.34% | -8.47% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -15.02% | -5.09% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -16.05% | -18.84% |
Current DrawdownCurrent decline from peak | -0.60% | -2.22% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -3.52% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 1.01% | +1.24% |
Volatility
HSCZ vs. VGIT - Volatility Comparison
iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) has a higher volatility of 4.08% compared to Vanguard Intermediate-Term Treasury ETF (VGIT) at 1.15%. This indicates that HSCZ's price experiences larger fluctuations and is considered to be riskier than VGIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | VGIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 1.15% | +2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 2.40% | +7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 3.34% | +8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 5.38% | +8.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 4.50% | +11.18% |
HSCZ vs. VGIT - Expense Ratio Comparison
HSCZ has a 0.43% expense ratio, which is higher than VGIT's 0.03% expense ratio.
Dividends
HSCZ vs. VGIT - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 2.93%, less than VGIT's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGIT Vanguard Intermediate-Term Treasury ETF | 3.86% | 3.79% | 3.67% | 2.73% | 1.74% | 1.69% | 2.23% | 2.24% | 2.05% | 1.67% | 1.69% | 1.69% |
Frequently Asked Questions
HSCZ and VGIT have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSCZ has higher volatility (4.08%) compared to VGIT (1.15%). In terms of maximum drawdown, HSCZ dropped -34.89% vs VGIT's -16.05%.
On 10-year performance, HSCZ leads with 12.35% vs 1.20% for VGIT. On fees, VGIT is cheaper at 0.03% per year. On volatility, VGIT has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HSCZ has performed better with a 12.35% return vs 1.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGIT is cheaper with a 0.03% expense ratio, compared with 0.43% for HSCZ.
VGIT has the higher dividend yield at 3.86%, compared with 2.93% for HSCZ.
HSCZ is categorized as Foreign Small & Mid Cap Equities, while VGIT is Government Bonds. HSCZ tracks MSCI EAFE Small-Cap 100% Hedged to USD Index, while VGIT tracks Bloomberg U.S. Treasury 3-10 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.43% for HSCZ and 0.03% for VGIT.
HSCZ currently has the higher Sharpe Ratio (2.45 vs 0.96), 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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