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SCZ vs. ISCF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCZ vs. ISCF

Last updated Aug 2, 2026
Documentation

SCZ (iShares MSCI EAFE Small-Cap ETF) and ISCF (iShares MSCI Intl Small-Cap Multifactor ETF) are both Foreign Small & Mid Cap Equities funds from iShares - SCZ tracks the MSCI EAFE Small Cap Index while ISCF tracks the MSCI World exUSA SmallCap Diversified Multi-Factor. Both are passively managed. Over the past 10 years, SCZ returned 8.23%/yr vs 9.22%/yr for ISCF. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.40% expense ratio.

Performance

SCZ vs. ISCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Small-Cap ETF (SCZ) and iShares MSCI Intl Small-Cap Multifactor ETF (ISCF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SCZ achieves a 9.73% return, which is significantly higher than ISCF's 8.61% return. Over the past 10 years, SCZ has underperformed ISCF with an annualized return of 8.23%, while ISCF has yielded a comparatively higher 9.22% annualized return.

SCZ

1D
-0.56%
1M
0.50%
6M
4.04%
YTD
9.73%
1Y
19.33%
3Y*
15.04%
5Y*
5.28%
10Y*
8.23%
ALL TIME*
5.52%

ISCF

1D
-0.45%
1M
1.07%
6M
2.34%
YTD
8.61%
1Y
18.60%
3Y*
16.29%
5Y*
7.33%
10Y*
9.22%
ALL TIME*
8.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ISCF

iShares MSCI Intl Small-Cap Multifactor ETF
$1.26M$1.80M$2.25M

SCZ

iShares MSCI EAFE Small-Cap ETF
$120.33M$145.28M$127.06M

SCZ vs. ISCF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCZ
iShares MSCI EAFE Small-Cap ETF		9.73%32.08%1.52%12.98%-21.27%10.12%11.71%24.68%-17.64%32.72%
ISCF
iShares MSCI Intl Small-Cap Multifactor ETF		8.61%33.65%4.75%11.50%-15.07%13.31%7.65%26.32%-18.76%38.13%

Correlation

The correlation between SCZ and ISCF is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.98

Correlation (3Y)
Balances recent behavior with more history.

0.97

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.97

Correlation (10Y)
Provides a long-term view across more market conditions.

0.93

Correlation (All Time)
Calculated using the full available price history since May 1, 2015

0.89

The correlation between SCZ and ISCF has been stable across timeframes, ranging from 0.89 to 0.98 - a consistent structural relationship.

SCZ vs. ISCF - Sectors Allocation Comparison

Sectors
SCZ
ISCF

Industrials

24.2%
23.3%

Financial Services

12.7%
13.6%

Consumer Cyclical

12.5%
12.7%

Technology

11.0%
10.1%

Real Estate

9.9%
8.6%

Basic Materials

9.7%
10.9%

Healthcare

6.1%
5.2%

Consumer Defensive

4.8%
3.7%

Communication Services

3.6%
3.4%

Energy

3.3%
4.4%

Utilities

2.1%
3.4%

Industrials

SCZ
24.2%
ISCF
23.3%

Financial Services

SCZ
12.7%
ISCF
13.6%

Consumer Cyclical

SCZ
12.5%
ISCF
12.7%

Technology

SCZ
11.0%
ISCF
10.1%

Real Estate

SCZ
9.9%
ISCF
8.6%

Basic Materials

SCZ
9.7%
ISCF
10.9%

Healthcare

SCZ
6.1%
ISCF
5.2%

Consumer Defensive

SCZ
4.8%
ISCF
3.7%

Communication Services

SCZ
3.6%
ISCF
3.4%

Energy

SCZ
3.3%
ISCF
4.4%

Utilities

SCZ
2.1%
ISCF
3.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI EAFE Small-Cap ETF

iShares MSCI Intl Small-Cap Multifactor ETF

Often compared with SCZ:
SCZ vs. VSSSCZ vs. AVDVSCZ vs. IWMSCZ vs. IEFASCZ vs. VPLSCZ vs. IDEVSCZ vs. VOO
Often compared with ISCF:
ISCF vs. ISVLISCF vs. VSSISCF vs. AVDVISCF vs. HSCZISCF vs. AVUVISCF vs. FISMXISCF vs. SPY

Return for Risk

SCZ vs. ISCF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SCZ
SCZ Risk / Return Rank: 5353
Overall Rank
SCZ Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SCZ Sortino Ratio Rank: 5555
Sortino Ratio Rank
SCZ Omega Ratio Rank: 5454
Omega Ratio Rank
SCZ Calmar Ratio Rank: 4848
Calmar Ratio Rank
SCZ Martin Ratio Rank: 5454
Martin Ratio Rank
ISCF
ISCF Risk / Return Rank: 5050
Overall Rank
ISCF Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
ISCF Sortino Ratio Rank: 5151
Sortino Ratio Rank
ISCF Omega Ratio Rank: 5050
Omega Ratio Rank
ISCF Calmar Ratio Rank: 4747
Calmar Ratio Rank
ISCF Martin Ratio Rank: 5151
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SCZ vs. ISCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Small-Cap ETF (SCZ) and iShares MSCI Intl Small-Cap Multifactor ETF (ISCF). 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.

SCZISCFDifference
Sharpe ratioReturn per unit of total volatility
1.31
1.25

+0.06

Sortino ratioReturn per unit of downside risk
1.90
1.81

+0.09

Omega ratioGain probability vs. loss probability

1.24

1.23

+0.01

Calmar ratioReturn relative to maximum drawdown

1.74

1.67

+0.07

Martin ratioReturn relative to average drawdown

6.32

5.92

+0.40

SCZ vs. ISCF - Sharpe Ratio Comparison

The current SCZ Sharpe Ratio is 1.31, which is comparable to the ISCF Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of SCZ and ISCF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SCZ vs. ISCF - Drawdown Comparison

The maximum SCZ drawdown since its inception was -61.86%, which is greater than ISCF's maximum drawdown of -40.79%. Use the drawdown chart below to compare losses from any high point for SCZ and ISCF.

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Drawdown Indicators

SCZISCFDifference

Max Drawdown

Largest peak-to-trough decline

-61.86%

-40.79%

-21.07%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-11.34%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-14.52%

-13.25%

-1.27%

Max Drawdown (5Y)

Largest decline over 5 years

-36.87%

-30.70%

-6.17%

Max Drawdown (10Y)

Largest decline over 10 years

-41.07%

-40.79%

-0.28%

Current Drawdown

Current decline from peak

-1.64%

-1.43%

-0.21%

Average Drawdown

Average peak-to-trough decline

-12.97%

-8.07%

-4.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

3.20%

-0.06%

Volatility

SCZ vs. ISCF - Volatility Comparison

iShares MSCI EAFE Small-Cap ETF (SCZ) and iShares MSCI Intl Small-Cap Multifactor ETF (ISCF) have volatilities of 4.71% and 4.73%, 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

SCZISCFDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.71%

4.73%

-0.02%

Volatility (6M)

Calculated over the trailing 6-month period

13.09%

12.96%

+0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

15.18%

15.15%

+0.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.83%

16.74%

+0.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.16%

17.16%

0.00%

SCZ vs. ISCF - Expense Ratio Comparison

Both SCZ and ISCF have an expense ratio of 0.40%.

Dividends

SCZ vs. ISCF - Dividend Comparison

SCZ's dividend yield for the trailing twelve months is around 3.18%, less than ISCF's 3.65% yield.

PositionTTM20252024202320222021202020192018201720162015
ISCF
iShares MSCI Intl Small-Cap Multifactor ETF		3.65%3.76%4.29%3.94%2.73%3.93%2.30%2.87%2.14%1.97%2.89%1.46%
SCZ
iShares MSCI EAFE Small-Cap ETF		3.18%3.30%3.50%2.96%1.99%2.96%1.52%3.52%2.79%2.38%2.82%2.06%

Frequently Asked Questions

With a correlation of 0.98, SCZ and ISCF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

ISCF has higher volatility (4.73%) compared to SCZ (4.71%). In terms of maximum drawdown, SCZ dropped -61.86% vs ISCF's -40.79%.

On 10-year performance, ISCF leads with 9.22% vs 8.23% for SCZ. Both ETFs have the same 0.40% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ISCF has performed better with a 9.22% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCZ and ISCF have the same expense ratio: 0.40% per year.

ISCF has the higher dividend yield at 3.65%, compared with 3.18% for SCZ.

SCZ tracks MSCI EAFE Small Cap Index, while ISCF tracks MSCI World exUSA SmallCap Diversified Multi-Factor.

SCZ currently has the higher Sharpe Ratio (1.31 vs 1.25), 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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