HSCZ vs. WM
HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) is Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index, while WM (Waste Management, Inc.) is a stock. Over the past 10 years, HSCZ returned 12.35%/yr vs 15.36%/yr for WM. At a 0.28 correlation, their price movements are largely independent.
Performance
HSCZ vs. WM - 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 WM's 0.71% return. Over the past 10 years, HSCZ has underperformed WM with an annualized return of 12.35%, while WM has yielded a comparatively higher 15.36% 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%
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
HSCZ vs. WM - 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% |
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
Correlation
The correlation between HSCZ and WM is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015 | 0.28 |
The correlation between HSCZ and WM shifts across timeframes, from -0.04 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HSCZ vs. WM — Risk / Return Rank
HSCZ
WM
HSCZ vs. WM - 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 Waste Management, Inc. (WM). 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 | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.76 | ||
| Sortino ratioReturn per unit of downside risk | +3.75 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.96 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | -0.36 | +3.31 |
| Martin ratioReturn relative to average drawdown | 12.57 | -0.79 | +13.36 |
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Drawdowns
HSCZ vs. WM - Drawdown Comparison
The maximum HSCZ drawdown since its inception was -34.89%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for HSCZ and WM.
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Drawdown Indicators
| HSCZ | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.89% | -77.85% | +42.96% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -16.70% | +7.09% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -18.14% | +5.33% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -18.14% | -1.97% |
Max Drawdown (10Y)Largest decline over 10 years | -34.89% | -30.07% | -4.82% |
Current DrawdownCurrent decline from peak | -0.60% | -10.24% | +9.64% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -17.69% | +13.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 7.58% | -5.33% |
Volatility
HSCZ vs. WM - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) is 4.08%, while Waste Management, Inc. (WM) has a volatility of 6.13%. This indicates that HSCZ experiences smaller price fluctuations and is considered to be less risky than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSCZ | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 6.13% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 14.08% | -4.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 19.03% | -7.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.52% | 18.62% | -5.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.68% | 19.54% | -3.86% |
Dividends
HSCZ vs. WM - Dividend Comparison
HSCZ's dividend yield for the trailing twelve months is around 2.93%, more than WM's 1.61% 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% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
HSCZ and WM have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WM has higher volatility (6.13%) compared to HSCZ (4.08%). In terms of maximum drawdown, HSCZ dropped -34.89% vs WM's -77.85%.
HSCZ currently has the higher Sharpe Ratio (2.45 vs -0.32), 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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