IDVO vs. HSCZ

Last updated Jun 14, 2026

IDVO (Amplify CWP International Enhanced Dividend Income ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both exchange-traded funds - IDVO is a Derivative Income fund actively managed by Amplify, while HSCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index. IDVO is actively managed, while HSCZ is passively managed. Over the past 3 years, IDVO returned 22.78%/yr vs 18.32%/yr for HSCZ. A 0.72 correlation means they provide meaningful diversification when combined. IDVO charges 0.65%/yr vs 0.43%/yr for HSCZ.

Performance

IDVO vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP International Enhanced Dividend Income ETF (IDVO) and iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDVO achieves a 14.60% return, which is significantly higher than HSCZ's 10.99% return.

IDVO

• 1D: 0.52%
• 1M: 0.18%
• YTD: 14.60%
• 6M: 15.00%
• 1Y: 35.61%
• 3Y*: 22.78%
• 5Y*: —
• 10Y*: —

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IDVO vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	14.60%	36.46%	10.16%	17.53%	6.42%
HSCZ iShares Currency Hedged MSCI EAFE Small Cap ETF	10.99%	25.74%	12.89%	17.03%	1.39%

Correlation

The correlation between IDVO and HSCZ 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 (All Time) Calculated using the full available price history since Sep 8, 2022	0.72

The correlation between IDVO and HSCZ has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.

IDVO vs. HSCZ - Sectors Allocation Comparison

Sectors	IDVO	HSCZ
Financial Services	19.9%	13.3%
Basic Materials	17.1%	10.8%
Energy	12.5%	3.8%
Technology	10.7%	10.8%
Communication Services	10.3%	3.1%
Consumer Defensive	8.2%	3.9%
Healthcare	7.8%	4.8%
Industrials	7.2%	24.4%
Consumer Cyclical	3.2%	10.8%
Utilities	3.2%	2.4%
Real Estate	-	9.5%

Return for Risk

IDVO vs. HSCZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IDVO

IDVO Risk / Return Rank: 75
IDVO Sharpe Ratio Rank: 76
IDVO Sortino Ratio Rank: 73
IDVO Omega Ratio Rank: 75
IDVO Calmar Ratio Rank: 74
IDVO Martin Ratio Rank: 76

HSCZ

HSCZ Risk / Return Rank: 80
HSCZ Sharpe Ratio Rank: 86
HSCZ Sortino Ratio Rank: 87
HSCZ Omega Ratio Rank: 85
HSCZ Calmar Ratio Rank: 67
HSCZ Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IDVO vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP International Enhanced Dividend Income ETF (IDVO) and iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ). 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.

	IDVO	HSCZ	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.45	-0.36
Sortino ratio: Return per unit of downside risk	2.81	3.44	-0.62
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.07
Calmar ratio: Return relative to maximum drawdown	3.30	2.95	+0.35
Martin ratio: Return relative to average drawdown	12.60	12.57	+0.03

IDVO vs. HSCZ - Sharpe Ratio Comparison

The current IDVO Sharpe Ratio is 2.09, which is comparable to the HSCZ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of IDVO and HSCZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IDVO vs. HSCZ - Drawdown Comparison

The maximum IDVO drawdown since its inception was -15.46%, smaller than the maximum HSCZ drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for IDVO and HSCZ.

Drawdown Indicators

	IDVO	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.46%	-34.89%	+19.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.37%	-9.61%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-12.81%	-2.65%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.89%	—
Current Drawdown Current decline from peak	-0.84%	-0.60%	-0.24%
Average Drawdown Average peak-to-trough decline	-2.30%	-4.64%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.25%	+0.46%

Volatility

IDVO vs. HSCZ - Volatility Comparison

Amplify CWP International Enhanced Dividend Income ETF (IDVO) has a higher volatility of 6.41% compared to iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) at 4.08%. This indicates that IDVO's price experiences larger fluctuations and is considered to be riskier than HSCZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDVO	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	4.08%	+2.33%
Volatility (6M) Calculated over the trailing 6-month period	13.94%	9.68%	+4.26%
Volatility (1Y) Calculated over the trailing 1-year period	16.40%	11.60%	+4.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.50%	13.52%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.50%	15.68%	+0.82%

IDVO vs. HSCZ - Expense Ratio Comparison

IDVO has a 0.65% expense ratio, which is higher than HSCZ's 0.43% expense ratio.

Dividends

IDVO vs. HSCZ - Dividend Comparison

IDVO's dividend yield for the trailing twelve months is around 5.46%, more than HSCZ's 2.93% 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%
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.46%	5.42%	6.14%	5.72%	1.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IDVO and HSCZ in my portfolio?

IDVO and HSCZ 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.

Which is riskier, IDVO or HSCZ?

IDVO has higher volatility (6.41%) compared to HSCZ (4.08%). In terms of maximum drawdown, IDVO dropped -15.46% vs HSCZ's -34.89%.

Which ETF is better, IDVO or HSCZ?

On 3-year performance, IDVO leads with 22.78% vs 18.32% for HSCZ. On fees, HSCZ is cheaper at 0.43% per year. On volatility, HSCZ has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDVO or HSCZ?

Over the 3-year period, IDVO has performed better with a 22.78% return vs 18.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDVO or HSCZ?

HSCZ is cheaper with a 0.43% expense ratio, compared with 0.65% for IDVO.

Which ETF pays a higher dividend yield, IDVO or HSCZ?

IDVO has the higher dividend yield at 5.46%, compared with 2.93% for HSCZ.

What is the main difference between IDVO and HSCZ?

IDVO is categorized as Derivative Income, while HSCZ is Foreign Small & Mid Cap Equities. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.65% for IDVO and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.45 vs 2.09), 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.