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SCZ vs. SCHC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SCZ vs. SCHC

Last updated Aug 6, 2026
Documentation

SCZ (iShares MSCI EAFE Small-Cap ETF) and SCHC (Schwab International Small-Cap Equity ETF) are both Foreign Small & Mid Cap Equities funds - SCZ tracks the MSCI EAFE Small Cap Index while SCHC tracks the FTSE Developed Small Cap ex U.S. Liquid Index. Both are passively managed. Over the past 10 years, SCZ returned 8.46%/yr vs 8.16%/yr for SCHC. Their 0.95 correlation means they have historically moved very closely together. SCZ charges 0.40%/yr vs 0.08%/yr for SCHC.

Performance

SCZ vs. SCHC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Small-Cap ETF (SCZ) and Schwab International Small-Cap Equity ETF (SCHC). 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 12.37% return, which is significantly higher than SCHC's 10.26% return. Both investments have delivered pretty close results over the past 10 years, with SCZ having a 8.46% annualized return and SCHC not far behind at 8.16%.

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%

SCHC

1D
0.62%
1M
2.16%
6M
2.14%
YTD
10.26%
1Y
20.46%
3Y*
17.21%
5Y*
6.41%
10Y*
8.16%
ALL TIME*
7.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

SCHC

Schwab International Small-Cap Equity ETF
$14.08M$15.27M$17.11M

SCZ

iShares MSCI EAFE Small-Cap ETF
$136.46M$136.20M$129.54M

SCZ vs. SCHC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SCZ
iShares MSCI EAFE Small-Cap ETF		12.37%32.08%1.52%12.98%-21.27%10.12%11.71%24.68%-17.64%32.72%
SCHC
Schwab International Small-Cap Equity ETF		10.26%37.59%1.97%14.36%-21.74%12.02%10.48%23.10%-18.60%29.42%

Correlation

The correlation between SCZ and SCHC is 0.94, meaning they have usually moved in the same direction, including during past declines.

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

0.94

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

0.96

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

0.97

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

0.96

Correlation (All Time)
Calculated using the full available price history since Jan 14, 2010

0.95

The correlation between SCZ and SCHC has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

SCZ vs. SCHC - Sectors Allocation Comparison

Sectors
SCZ
SCHC

Industrials

24.2%
20.4%

Financial Services

12.7%
16.0%

Consumer Cyclical

12.5%
9.3%

Technology

11.0%
8.1%

Real Estate

9.9%
6.2%

Basic Materials

9.7%
13.3%

Healthcare

6.1%
5.0%

Consumer Defensive

4.8%
3.9%

Communication Services

3.6%
2.6%

Energy

3.3%
5.5%

Utilities

2.1%
2.8%

Industrials

SCZ
24.2%
SCHC
20.4%

Financial Services

SCZ
12.7%
SCHC
16.0%

Consumer Cyclical

SCZ
12.5%
SCHC
9.3%

Technology

SCZ
11.0%
SCHC
8.1%

Real Estate

SCZ
9.9%
SCHC
6.2%

Basic Materials

SCZ
9.7%
SCHC
13.3%

Healthcare

SCZ
6.1%
SCHC
5.0%

Consumer Defensive

SCZ
4.8%
SCHC
3.9%

Communication Services

SCZ
3.6%
SCHC
2.6%

Energy

SCZ
3.3%
SCHC
5.5%

Utilities

SCZ
2.1%
SCHC
2.8%

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

Schwab International Small-Cap Equity ETF

Often compared with SCZ:
SCZ vs. VSSSCZ vs. AVDVSCZ vs. IWMSCZ vs. IEFASCZ vs. VPLSCZ vs. IDEVSCZ vs. ISCF
Often compared with SCHC:
SCHC vs. VSSSCHC vs. FNDCSCHC vs. AVUVSCHC vs. SCHDSCHC vs. VBSCHC vs. FDNSCHC vs. QQQ

Return for Risk

SCZ vs. SCHC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SCZ
SCZ Risk / Return Rank: 4848
Overall Rank
SCZ Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
SCZ Sortino Ratio Rank: 4848
Sortino Ratio Rank
SCZ Omega Ratio Rank: 4848
Omega Ratio Rank
SCZ Calmar Ratio Rank: 4444
Calmar Ratio Rank
SCZ Martin Ratio Rank: 5050
Martin Ratio Rank
SCHC
SCHC Risk / Return Rank: 4242
Overall Rank
SCHC Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
SCHC Sortino Ratio Rank: 4242
Sortino Ratio Rank
SCHC Omega Ratio Rank: 4242
Omega Ratio Rank
SCHC Calmar Ratio Rank: 4141
Calmar Ratio Rank
SCHC Martin Ratio Rank: 4141
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. SCHC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Small-Cap ETF (SCZ) and Schwab International Small-Cap Equity ETF (SCHC). 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.

SCZSCHCDifference
Sharpe ratioReturn per unit of total volatility
1.37
1.24

+0.14

Sortino ratioReturn per unit of downside risk
1.98
1.78

+0.21

Omega ratioGain probability vs. loss probability

1.25

1.23

+0.02

Calmar ratioReturn relative to maximum drawdown

1.82

1.65

+0.18

Martin ratioReturn relative to average drawdown

6.62

5.08

+1.54

SCZ vs. SCHC - Sharpe Ratio Comparison

The current SCZ Sharpe Ratio is 1.37, which is comparable to the SCHC Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of SCZ and SCHC, 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. SCHC - Drawdown Comparison

The maximum SCZ drawdown since its inception was -61.86%, which is greater than SCHC's maximum drawdown of -43.94%. Use the drawdown chart below to compare losses from any high point for SCZ and SCHC.

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Drawdown Indicators

SCZSCHCDifference

Max Drawdown

Largest peak-to-trough decline

-61.86%

-43.94%

-17.92%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-12.48%

+1.05%

Max Drawdown (3Y)

Largest decline over 3 years

-14.52%

-13.85%

-0.67%

Max Drawdown (5Y)

Largest decline over 5 years

-36.87%

-36.48%

-0.39%

Max Drawdown (10Y)

Largest decline over 10 years

-41.07%

-43.94%

+2.87%

Current Drawdown

Current decline from peak

0.00%

-2.59%

+2.59%

Average Drawdown

Average peak-to-trough decline

-12.96%

-10.01%

-2.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.14%

4.04%

-0.90%

Volatility

SCZ vs. SCHC - Volatility Comparison

The current volatility for iShares MSCI EAFE Small-Cap ETF (SCZ) is 4.36%, while Schwab International Small-Cap Equity ETF (SCHC) has a volatility of 4.85%. This indicates that SCZ experiences smaller price fluctuations and is considered to be less risky than SCHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SCZSCHCDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.36%

4.85%

-0.49%

Volatility (6M)

Calculated over the trailing 6-month period

13.04%

14.39%

-1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

15.19%

16.64%

-1.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.84%

17.68%

-0.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.17%

17.83%

-0.66%

SCZ vs. SCHC - Expense Ratio Comparison

SCZ has a 0.40% expense ratio, which is higher than SCHC's 0.08% expense ratio.

Dividends

SCZ vs. SCHC - Dividend Comparison

SCZ's dividend yield for the trailing twelve months is around 3.10%, less than SCHC's 3.36% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHC
Schwab International Small-Cap Equity ETF		3.36%3.66%3.72%2.94%1.78%3.02%1.62%3.23%2.51%2.73%2.01%2.34%
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

With a correlation of 0.94, SCZ and SCHC 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.

SCHC has higher volatility (4.85%) compared to SCZ (4.36%). In terms of maximum drawdown, SCZ dropped -61.86% vs SCHC's -43.94%.

On 10-year performance, SCZ leads with 8.46% vs 8.16% for SCHC. On fees, SCHC is cheaper at 0.08% per year. On volatility, SCZ has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SCZ has performed better with a 8.46% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SCHC is cheaper with a 0.08% expense ratio, compared with 0.40% for SCZ.

SCHC has the higher dividend yield at 3.36%, compared with 3.10% for SCZ.

SCZ tracks MSCI EAFE Small Cap Index, while SCHC tracks FTSE Developed Small Cap ex U.S. Liquid Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.40% for SCZ and 0.08% for SCHC.

SCZ currently has the higher Sharpe Ratio (1.37 vs 1.24), 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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