SCZ vs. TNBMX
SCZ (iShares MSCI EAFE Small-Cap ETF) and TNBMX (T. Rowe Price International Bond Fund (USD Hedged)) are both funds - SCZ is a Foreign Small & Mid Cap Equities fund tracking the MSCI EAFE Small Cap Index, while TNBMX is a Global Bonds fund managed by T. Rowe Price. Over the past 5 years, SCZ returned 4.76%/yr vs 1.45%/yr for TNBMX. At a 0.14 correlation, their price movements are largely independent. SCZ charges 0.40%/yr vs 0.53%/yr for TNBMX.
Performance
SCZ vs. TNBMX - Performance Comparison
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Returns By Period
In the year-to-date period, SCZ achieves a 7.96% return, which is significantly higher than TNBMX's 0.74% return.
SCZ
- 1D
- 0.22%
- 1M
- -2.48%
- YTD
- 7.96%
- 6M
- 10.42%
- 1Y
- 21.47%
- 3Y*
- 15.34%
- 5Y*
- 4.76%
- 10Y*
- 8.12%
TNBMX
- 1D
- -0.12%
- 1M
- 0.11%
- YTD
- 0.74%
- 6M
- 1.40%
- 1Y
- 4.14%
- 3Y*
- 5.67%
- 5Y*
- 1.45%
- 10Y*
- —
SCZ vs. TNBMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCZ iShares MSCI EAFE Small-Cap ETF | 7.96% | 32.08% | 1.52% | 12.98% | -21.27% | 10.12% | 11.71% | 24.68% | -17.64% | 7.01% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 0.74% | 5.25% | 5.00% | 10.32% | -12.30% | -1.63% | 5.73% | 10.77% | 1.72% | 1.35% |
Correlation
The correlation between SCZ and TNBMX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2017 | 0.14 |
The correlation between SCZ and TNBMX shifts across timeframes, from 0.14 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCZ vs. TNBMX — Risk / Return Rank
SCZ
TNBMX
SCZ vs. TNBMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Small-Cap ETF (SCZ) and T. Rowe Price International Bond Fund (USD Hedged) (TNBMX). 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 | TNBMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.38 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.85 | +0.04 |
| Martin ratioReturn relative to average drawdown | 7.18 | 6.28 | +0.90 |
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 | TNBMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 1.69 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.40 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.86 | -0.60 |
Drawdowns
SCZ vs. TNBMX - Drawdown Comparison
The maximum SCZ drawdown since its inception was -61.86%, which is greater than TNBMX's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for SCZ and TNBMX.
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Drawdown Indicators
| SCZ | TNBMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.86% | -15.78% | -46.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -2.32% | -9.11% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -2.32% | -12.74% |
Max Drawdown (5Y)Largest decline over 5 years | -36.87% | -15.48% | -21.39% |
Max Drawdown (10Y)Largest decline over 10 years | -41.07% | — | — |
Current DrawdownCurrent decline from peak | -3.23% | -0.63% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -13.06% | -3.06% | -10.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.68% | +2.32% |
Volatility
SCZ vs. TNBMX - Volatility Comparison
iShares MSCI EAFE Small-Cap ETF (SCZ) has a higher volatility of 4.69% compared to T. Rowe Price International Bond Fund (USD Hedged) (TNBMX) at 0.81%. This indicates that SCZ's price experiences larger fluctuations and is considered to be riskier than TNBMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCZ | TNBMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.69% | 0.81% | +3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 2.15% | +10.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.71% | 2.54% | +12.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.78% | 3.63% | +13.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.45% | 3.32% | +14.13% |
SCZ vs. TNBMX - Expense Ratio Comparison
SCZ has a 0.40% expense ratio, which is lower than TNBMX's 0.53% expense ratio.
Dividends
SCZ vs. TNBMX - Dividend Comparison
SCZ's dividend yield for the trailing twelve months is around 3.05%, less than TNBMX's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCZ iShares MSCI EAFE Small-Cap ETF | 3.05% | 3.30% | 3.50% | 2.96% | 1.99% | 2.96% | 1.52% | 3.52% | 2.79% | 2.38% | 2.82% | 2.06% |
TNBMX T. Rowe Price International Bond Fund (USD Hedged) | 4.79% | 4.76% | 4.24% | 2.85% | 10.20% | 2.84% | 1.90% | 4.65% | 8.20% | 0.64% | 0.00% | 0.00% |
Frequently Asked Questions
SCZ and TNBMX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCZ has higher volatility (4.69%) compared to TNBMX (0.81%). In terms of maximum drawdown, SCZ dropped -61.86% vs TNBMX's -15.78%.
TNBMX currently has the higher Sharpe Ratio (1.69 vs 1.47), 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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