SCZ vs. GWX
Compare and contrast key facts about iShares MSCI EAFE Small-Cap ETF (SCZ) and SPDR S&P International Small Cap ETF (GWX).
SCZ and GWX 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. GWX is a passively managed fund by State Street that tracks the performance of the S&P Developed Ex-U.S. Under USD2 Billion Index. It was launched on Apr 20, 2007. Both SCZ and GWX 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. GWX - Performance Comparison
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SCZ vs. GWX - 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% |
GWX SPDR S&P International Small Cap ETF | 3.35% | 35.89% | 0.21% | 10.94% | -19.98% | 9.66% | 13.41% | 18.18% | -18.97% | 28.88% |
Returns By Period
In the year-to-date period, SCZ achieves a 1.14% return, which is significantly lower than GWX's 3.35% return. Both investments have delivered pretty close results over the past 10 years, with SCZ having a 7.69% annualized return and GWX not far behind at 7.39%.
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%
GWX
- 1D
- 3.25%
- 1M
- -9.05%
- YTD
- 3.35%
- 6M
- 6.84%
- 1Y
- 36.16%
- 3Y*
- 14.03%
- 5Y*
- 5.10%
- 10Y*
- 7.39%
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SCZ vs. GWX - Expense Ratio Comparison
Both SCZ and GWX have an expense ratio of 0.40%.
Return for Risk
SCZ vs. GWX — Risk / Return Rank
SCZ
GWX
SCZ vs. GWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Small-Cap ETF (SCZ) and SPDR S&P International Small Cap ETF (GWX). 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 | GWX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 2.17 | -0.46 |
Sortino ratioReturn per unit of downside risk | 2.31 | 2.86 | -0.55 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.42 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.94 | -0.65 |
Martin ratioReturn relative to average drawdown | 9.00 | 11.98 | -2.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SCZ | GWX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 2.17 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.31 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.43 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.21 | +0.04 |
Correlation
The correlation between SCZ and GWX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SCZ vs. GWX - Dividend Comparison
SCZ's dividend yield for the trailing twelve months is around 3.26%, more than GWX's 2.74% 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% |
GWX SPDR S&P International Small Cap ETF | 2.74% | 2.83% | 2.71% | 2.64% | 2.71% | 2.75% | 1.74% | 3.41% | 2.94% | 5.18% | 4.21% | 2.67% |
Drawdowns
SCZ vs. GWX - Drawdown Comparison
The maximum SCZ drawdown since its inception was -61.86%, roughly equal to the maximum GWX drawdown of -63.25%. Use the drawdown chart below to compare losses from any high point for SCZ and GWX.
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Drawdown Indicators
| SCZ | GWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.86% | -63.25% | +1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -11.91% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -36.87% | -34.58% | -2.29% |
Max Drawdown (10Y)Largest decline over 10 years | -41.07% | -45.27% | +4.20% |
Current DrawdownCurrent decline from peak | -8.53% | -9.05% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -13.17% | -14.85% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.92% | -0.01% |
Volatility
SCZ vs. GWX - Volatility Comparison
iShares MSCI EAFE Small-Cap ETF (SCZ) and SPDR S&P International Small Cap ETF (GWX) have volatilities of 7.37% and 7.73%, 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.
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Volatility by Period
| SCZ | GWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.37% | 7.73% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 10.71% | 11.67% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.38% | 16.79% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 16.55% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 17.24% | +0.11% |