SCZ vs. KOKU
SCZ (iShares MSCI EAFE Small-Cap ETF) and KOKU (Xtrackers MSCI Kokusai Equity ETF) are both exchange-traded funds - SCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small Cap Index, while KOKU is a Large Cap Growth Equities fund tracking the MSCI Kokusai Index (World ex Japan). Both are passively managed. Over the past 5 years, SCZ returned 5.64%/yr vs 12.02%/yr for KOKU. Their 0.79 correlation means they have sometimes moved together and sometimes differently. SCZ charges 0.40%/yr vs 0.09%/yr for KOKU.
Performance
SCZ vs. KOKU - Performance Comparison
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Returns By Period
In the year-to-date period, SCZ achieves a 12.37% return, which is significantly lower than KOKU's 13.09% return.
SCZ
- 1D
- 0.61%
- 1M
- 1.44%
- 6M
- 5.42%
- YTD
- 12.37%
- 1Y
- 20.75%
- 3Y*
- 16.45%
- 5Y*
- 5.64%
- 10Y*
- 8.46%
- ALL TIME*
- 5.65%
KOKU
- 1D
- -0.08%
- 1M
- 3.85%
- 6M
- 11.74%
- YTD
- 13.09%
- 1Y
- 23.73%
- 3Y*
- 20.69%
- 5Y*
- 12.02%
- 10Y*
- —
- ALL TIME*
- 18.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.46K | $14.80K | $42.63K | |
| $136.46M | $136.20M | $129.54M |
SCZ vs. KOKU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SCZ iShares MSCI EAFE Small-Cap ETF | 12.37% | 32.08% | 1.52% | 12.98% | -21.27% | 10.12% | 54.36% |
KOKU Xtrackers MSCI Kokusai Equity ETF | 13.09% | 21.45% | 19.45% | 24.23% | -17.83% | 23.84% | 42.72% |
Correlation
The correlation between SCZ and KOKU is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2020 | 0.79 |
The correlation between SCZ and KOKU has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.
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Return for Risk
SCZ vs. KOKU — Risk / Return Rank
SCZ
KOKU
SCZ vs. KOKU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Small-Cap ETF (SCZ) and Xtrackers MSCI Kokusai Equity ETF (KOKU). 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.
| SCZ | KOKU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.34 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.64 | -0.81 |
| Martin ratioReturn relative to average drawdown | 6.62 | 11.19 | -4.57 |
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Drawdowns
SCZ vs. KOKU - Drawdown Comparison
The maximum SCZ drawdown since its inception was -61.86%, which is greater than KOKU's maximum drawdown of -25.77%. Use the drawdown chart below to compare losses from any high point for SCZ and KOKU.
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Drawdown Indicators
| SCZ | KOKU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.86% | -25.77% | -36.09% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -9.04% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -14.52% | -17.73% | +3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -36.87% | -25.77% | -11.10% |
Max Drawdown (10Y)Largest decline over 10 years | -41.07% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.08% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -12.96% | -4.74% | -8.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 2.13% | +1.01% |
Volatility
SCZ vs. KOKU - Volatility Comparison
iShares MSCI EAFE Small-Cap ETF (SCZ) has a higher volatility of 4.36% compared to Xtrackers MSCI Kokusai Equity ETF (KOKU) at 3.42%. This indicates that SCZ's price experiences larger fluctuations and is considered to be riskier than KOKU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCZ | KOKU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 3.42% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 13.04% | 10.34% | +2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 12.70% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 16.50% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 16.74% | +0.43% |
SCZ vs. KOKU - Expense Ratio Comparison
SCZ has a 0.40% expense ratio, which is higher than KOKU's 0.09% expense ratio.
Dividends
SCZ vs. KOKU - Dividend Comparison
SCZ's dividend yield for the trailing twelve months is around 3.10%, more than KOKU's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KOKU Xtrackers MSCI Kokusai Equity ETF | 1.39% | 1.48% | 1.63% | 1.76% | 1.98% | 1.89% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCZ iShares MSCI EAFE Small-Cap ETF | 3.10% | 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
SCZ and KOKU have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCZ has higher volatility (4.36%) compared to KOKU (3.42%). In terms of maximum drawdown, SCZ dropped -61.86% vs KOKU's -25.77%.
On 5-year performance, KOKU leads with 12.02% vs 5.64% for SCZ. On fees, KOKU is cheaper at 0.09% per year. On volatility, KOKU has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KOKU has performed better with a 12.02% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KOKU is cheaper with a 0.09% expense ratio, compared with 0.40% for SCZ.
SCZ has the higher dividend yield at 3.10%, compared with 1.39% for KOKU.
SCZ is categorized as Foreign Small & Mid Cap Equities, while KOKU is Large Cap Growth Equities. SCZ tracks MSCI EAFE Small Cap Index, while KOKU tracks MSCI Kokusai Index (World ex Japan). They also come from different issuers: iShares and Deutsche Bank. Their fees differ too: 0.40% for SCZ and 0.09% for KOKU.
KOKU currently has the higher Sharpe Ratio (1.88 vs 1.37), 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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