MOAT vs. HSCZ

Last updated Jun 14, 2026

MOAT (VanEck Morningstar Wide Moat ETF) and HSCZ (iShares Currency Hedged MSCI EAFE Small Cap ETF) are both exchange-traded funds - MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index, while HSCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small-Cap 100% Hedged to USD Index. Both are passively managed. Over the past 10 years, MOAT returned 13.47%/yr vs 12.35%/yr for HSCZ. A 0.66 correlation means they provide meaningful diversification when combined. MOAT charges 0.47%/yr vs 0.43%/yr for HSCZ.

Performance

MOAT vs. HSCZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat ETF (MOAT) 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, MOAT achieves a -0.66% return, which is significantly lower than HSCZ's 10.99% return. Over the past 10 years, MOAT has outperformed HSCZ with an annualized return of 13.47%, while HSCZ has yielded a comparatively lower 12.35% annualized return.

MOAT

• 1D: 0.41%
• 1M: 3.19%
• YTD: -0.66%
• 6M: -1.22%
• 1Y: 14.57%
• 3Y*: 10.55%
• 5Y*: 7.78%
• 10Y*: 13.47%

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)

MOAT vs. HSCZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MOAT VanEck Morningstar Wide Moat ETF	-0.66%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%
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%

Correlation

The correlation between MOAT and HSCZ is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015	0.66

The correlation between MOAT and HSCZ shifts across timeframes, from 0.60 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

MOAT vs. HSCZ - Sectors Allocation Comparison

Sectors	MOAT	HSCZ
Technology	33.8%	10.8%
Consumer Defensive	17.0%	3.9%
Healthcare	15.9%	4.8%
Industrials	13.8%	24.4%
Financial Services	9.0%	13.3%
Consumer Cyclical	7.3%	10.8%
Communication Services	2.4%	3.1%
Real Estate	0.8%	9.5%
Basic Materials	-	10.8%
Energy	-	3.8%
Utilities	-	2.4%

Return for Risk

MOAT vs. HSCZ — Risk / Return Rank

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

MOAT

MOAT Risk / Return Rank: 26
MOAT Sharpe Ratio Rank: 28
MOAT Sortino Ratio Rank: 28
MOAT Omega Ratio Rank: 26
MOAT Calmar Ratio Rank: 24
MOAT Martin Ratio Rank: 26

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.

MOAT vs. HSCZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat ETF (MOAT) 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.

	MOAT	HSCZ	Difference
Sharpe ratio: Return per unit of total volatility	0.91	2.45	-1.54
Sortino ratio: Return per unit of downside risk	1.39	3.44	-2.05
Omega ratio: Gain probability vs. loss probability	1.16	1.45	-0.29
Calmar ratio: Return relative to maximum drawdown	1.02	2.95	-1.94
Martin ratio: Return relative to average drawdown	3.11	12.57	-9.46

MOAT vs. HSCZ - Sharpe Ratio Comparison

The current MOAT Sharpe Ratio is 0.91, which is lower than the HSCZ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of MOAT 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

MOAT vs. HSCZ - Drawdown Comparison

The maximum MOAT drawdown since its inception was -33.31%, roughly equal to the maximum HSCZ drawdown of -34.89%. Use the drawdown chart below to compare losses from any high point for MOAT and HSCZ.

Drawdown Indicators

	MOAT	HSCZ	Difference
Max Drawdown Largest peak-to-trough decline	-33.31%	-34.89%	+1.58%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-9.61%	-2.82%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-12.81%	-8.63%
Max Drawdown (5Y) Largest decline over 5 years	-23.96%	-20.11%	-3.85%
Max Drawdown (10Y) Largest decline over 10 years	-33.31%	-34.89%	+1.58%
Current Drawdown Current decline from peak	-4.45%	-0.60%	-3.85%
Average Drawdown Average peak-to-trough decline	-3.83%	-4.64%	+0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	2.25%	+1.81%

Volatility

MOAT vs. HSCZ - Volatility Comparison

VanEck Morningstar Wide Moat ETF (MOAT) and iShares Currency Hedged MSCI EAFE Small Cap ETF (HSCZ) have volatilities of 4.13% and 4.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MOAT	HSCZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	4.08%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	9.68%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	13.93%	11.60%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	13.52%	+4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	15.68%	+3.00%

MOAT vs. HSCZ - Expense Ratio Comparison

MOAT has a 0.47% expense ratio, which is higher than HSCZ's 0.43% expense ratio.

Dividends

MOAT vs. HSCZ - Dividend Comparison

MOAT's dividend yield for the trailing twelve months is around 1.36%, less 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%
MOAT VanEck Morningstar Wide Moat ETF	1.36%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both MOAT and HSCZ in my portfolio?

MOAT and HSCZ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOAT or HSCZ?

MOAT has higher volatility (4.13%) compared to HSCZ (4.08%). In terms of maximum drawdown, MOAT dropped -33.31% vs HSCZ's -34.89%.

Which ETF is better, MOAT or HSCZ?

On 10-year performance, MOAT leads with 13.47% vs 12.35% for HSCZ. On fees, HSCZ is cheaper at 0.43% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MOAT or HSCZ?

Over the 10-year period, MOAT has performed better with a 13.47% return vs 12.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MOAT or HSCZ?

HSCZ is cheaper with a 0.43% expense ratio, compared with 0.47% for MOAT.

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

HSCZ has the higher dividend yield at 2.93%, compared with 1.36% for MOAT.

What is the main difference between MOAT and HSCZ?

MOAT is categorized as Large Cap Blend Equities, while HSCZ is Foreign Small & Mid Cap Equities. MOAT tracks Morningstar Wide Moat Focus Index, while HSCZ tracks MSCI EAFE Small-Cap 100% Hedged to USD Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.47% for MOAT and 0.43% for HSCZ.

Which has better risk-adjusted returns?

HSCZ currently has the higher Sharpe Ratio (2.45 vs 0.91), 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.