SCZ vs. FDTS

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI EAFE Small-Cap ETF (SCZ) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS).

SCZ and FDTS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCZ is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Small Cap Index. It was launched on Dec 10, 2007. FDTS is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX DM Ex-US Small Cap Index. It was launched on Feb 15, 2012. Both SCZ and FDTS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SCZ vs. FDTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Small-Cap ETF (SCZ) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS). The values are adjusted to include any dividend payments, if applicable.

SCZ vs. FDTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCZ iShares MSCI EAFE Small-Cap ETF	1.14%	32.08%	1.52%	12.98%	-21.27%	10.12%	11.71%	24.68%	-17.64%	32.72%
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	11.04%	51.17%	2.44%	10.96%	-15.34%	11.79%	12.90%	18.71%	-23.71%	36.01%

Returns By Period

In the year-to-date period, SCZ achieves a 1.14% return, which is significantly lower than FDTS's 11.04% return. Over the past 10 years, SCZ has underperformed FDTS with an annualized return of 7.69%, while FDTS has yielded a comparatively higher 10.43% annualized return.

SCZ

• 1D: 3.06%
• 1M: -8.53%
• YTD: 1.14%
• 6M: 4.20%
• 1Y: 27.73%
• 3Y*: 13.29%
• 5Y*: 4.46%
• 10Y*: 7.69%

FDTS

• 1D: 3.04%
• 1M: -9.63%
• YTD: 11.04%
• 6M: 16.94%
• 1Y: 59.05%
• 3Y*: 21.33%
• 5Y*: 10.78%
• 10Y*: 10.43%

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

SCZ vs. FDTS - Expense Ratio Comparison

SCZ has a 0.40% expense ratio, which is lower than FDTS's 0.80% expense ratio.

FDTS

First Trust Developed Markets ex-US Small Cap AlphaDEX Fund

SCZ

iShares MSCI EAFE Small-Cap ETF

Return for Risk

SCZ vs. FDTS — Risk / Return Rank

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

SCZ

SCZ Risk / Return Rank: 85
SCZ Sharpe Ratio Rank: 86
SCZ Sortino Ratio Rank: 87
SCZ Omega Ratio Rank: 87
SCZ Calmar Ratio Rank: 83
SCZ Martin Ratio Rank: 83

FDTS

FDTS Risk / Return Rank: 97
FDTS Sharpe Ratio Rank: 98
FDTS Sortino Ratio Rank: 98
FDTS Omega Ratio Rank: 97
FDTS Calmar Ratio Rank: 97
FDTS Martin Ratio Rank: 97

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.

SCZ vs. FDTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Small-Cap ETF (SCZ) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS). 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.

	SCZ	FDTS	Difference
Sharpe ratio Return per unit of total volatility	1.71	3.16	-1.46
Sortino ratio Return per unit of downside risk	2.31	3.90	-1.60
Omega ratio Gain probability vs. loss probability	1.34	1.60	-0.26
Calmar ratio Return relative to maximum drawdown	2.29	4.68	-2.39
Martin ratio Return relative to average drawdown	9.00	18.83	-9.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCZ vs. FDTS - Sharpe Ratio Comparison

The current SCZ Sharpe Ratio is 1.71, which is lower than the FDTS Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of SCZ and FDTS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SCZ	FDTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	3.16	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.37	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.42	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.36	-0.11

Correlation

The correlation between SCZ and FDTS is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SCZ vs. FDTS - Dividend Comparison

SCZ's dividend yield for the trailing twelve months is around 3.26%, more than FDTS's 2.71% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCZ iShares MSCI EAFE Small-Cap ETF	3.26%	3.30%	3.50%	2.96%	1.99%	2.96%	1.52%	3.52%	2.79%	2.38%	2.82%	2.06%
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	2.71%	2.94%	3.94%	2.90%	3.71%	3.01%	2.02%	2.30%	1.96%	2.08%	1.78%	1.73%

Drawdowns

SCZ vs. FDTS - Drawdown Comparison

The maximum SCZ drawdown since its inception was -61.86%, which is greater than FDTS's maximum drawdown of -51.26%. Use the drawdown chart below to compare losses from any high point for SCZ and FDTS.

Drawdown Indicators

	SCZ	FDTS	Difference
Max Drawdown Largest peak-to-trough decline	-61.86%	-51.26%	-10.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-12.61%	+1.18%
Max Drawdown (5Y) Largest decline over 5 years	-36.87%	-33.11%	-3.76%
Max Drawdown (10Y) Largest decline over 10 years	-41.07%	-51.26%	+10.19%
Current Drawdown Current decline from peak	-8.53%	-9.95%	+1.42%
Average Drawdown Average peak-to-trough decline	-13.17%	-10.74%	-2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.13%	-0.22%

Volatility

SCZ vs. FDTS - Volatility Comparison

The current volatility for iShares MSCI EAFE Small-Cap ETF (SCZ) is 7.37%, while First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) has a volatility of 7.97%. This indicates that SCZ experiences smaller price fluctuations and is considered to be less risky than FDTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCZ	FDTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	7.97%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	12.60%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.38%	18.77%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	29.14%	-12.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	24.75%	-7.40%