ASCI vs SCZ: Grades, Fees and Holdings Compared

abrdn International Small Cap Active ETF

ASCIFNasdaq

iShares MSCI EAFE Small-Cap ETF

SCZANasdaq

Overlap

2.5%by weight

Expense ratio

SCZ −0.30pt a year

ASCI0.70%SCZ0.40%

Avg volume · 30D

SCZ 300.9×the volume

ASCI4.32KSCZ1.3M

ASCI vs SCZ Performance

Oct 31, 2025 – Oct 30, 2026

+2.8%ASCI+12.2%SCZ

Expense ratio: ASCI 0.70%; SCZ 0.40%, better
Fund size: ASCI $69M; SCZ $12.7B
1Y total return: ASCI +2.8%; SCZ +12.2%, better
Yield (12M): ASCI No data; SCZ 3.22%
Holdings: ASCI 55; SCZ 2039
Avg volume (30D): ASCI 4.32K sh; SCZ 1.3M sh, better
NAV per share: ASCI $35.44; SCZ $82.65
52W range

ETF.net Grade

Pillar letters and Scores for ASCI, SCZ, with each pillar’s weight
Pillar	ASCI	SCZ
Cost30% weight	F20	A70Higher
Mission25% weight	Not scored	A100
Risk15% weight	F20	B55Higher
Tradability15% weight	D29	A92Higher
Holdings10% weight	F16	A76Higher
Durability5% weight	C42	A85Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. ASCI and SCZ are both graded against the same 16 International Small-Cap funds, so their Grades compare head to head.

International Small-Cap⁠

Category · 16 funds

See all 16 ›

SCZ ranks 2nd and ASCI 15th of 16 funds in the International Small-Cap Category.

Rank 1ASCHCSchwab International Small-Cap Equity ETFScore 80
Rank 2ASCZiShares MSCI EAFE Small-Cap ETFScore 79
Rank 3AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 78
Rank 13DTISCThrivent International Small Cap ETFScore 38
Rank 15FASCIabrdn International Small Cap Active ETFScore 22
Rank 16FFDTSFirst Trust Developed Markets ex-US Small Cap AlphaDEX FundScore 20

Our read on each fund

ETF.net Research

ASCIFabrdn International Small Cap Active ETF

SCZAiShares MSCI EAFE Small-Cap ETF

In short

ASCI A 1996-vintage stock picker that stepped into an ETF wrapper in 2025: active international small-cap, chosen on quality, growth and momentum, at 0.70% net of a waiver through February 28, 2028 in an aisle built on cheap index trackers.

SCZ The purist's take on foreign small caps: developed markets only, outside the US and Canada. Trading since 2007, SCZ follows the MSCI EAFE Small Cap Index, so Japan, Europe and Australia are in and emerging markets stay out.

Stated mandate

ASCI The Fund seeks long-term growth of capital and invests primarily in equity securities of small non-U.S. companies.

SCZ The fund seeks to track an index of small-cap equities from developed markets outside the United States and Canada, providing international diversification and exposure to overseas small-cap stocks.

Why people hold it

ASCI Real stock picking, not index sampling: the team screens non-U.S. small companies on quality, growth and momentum, with at least 80% of net assets committed to that hunting ground.sec.gov aberdeeninvestments.com
Room to roam: up to 35% of net assets can sit in emerging-market securities, and the fund typically carries full currency exposure to the markets it holds.sec.gov
The history predates the ticker. ASCI took over the assets of the abrdn International Small Cap Fund, a mutual fund dating to 1996, in October 2025, strategy and team intact.aberdeeninvestments.com aberdeeninvestments.com 2

SCZ A clean, literal mandate: small companies in developed markets outside the US and Canada, with nothing else slipping into the basket.ishares.com
It follows its stated index closely, one of the tighter implementations in the international small-cap group.
Live since December 2007 and now a multi-billion-dollar fund that trades actively, the kind of scale that supports steady day-to-day liquidity.
The 0.40% fee lands right at the median for its category, so the EAFE-specific screen doesn't carry a premium price.

Worth knowing

ASCI Active comes at a price: 0.70% net of a waiver through February 28, 2028 (1.11% gross), above the category median, against 0.06% at index peers SCHC and VSS.
No index to lean on. Results ride on the team's picks, and the prospectus allows significant concentration in a single country or region plus heavy industrials exposure.sec.gov
Smaller and more thinly traded than the category's index heavyweights, a trade-off that typically shows up as wider bid-ask spreads.

SCZ Median is not cheap here. VSS and SCHC charge 0.06% for their own ex-US small-cap baskets, several times less than SCZ's 0.40%.
Developed markets only. Emerging-market small caps sit outside the mandate, unlike all-world peers such as VSS.
The index is unhedged, so currency moves land on top of small-cap price swings, a bumpier ride than developed large-cap benchmarks.

Full ASCI profile⁠

Full SCZ profile⁠

ASCI vs SCZ Holdings

How ASCI and SCZ differ

Overlap by weight

2.5%

Shared holdings make up 50.4% of ASCI and 2.5% of SCZ.

Level by level

Holdings26 in both2.5%
Countryby domicile58.8%
Asset classEquity100%

Sector

No Sector split for ASCI.

Country, concentration and asset class

Country by domicile

Country weights in ASCI and SCZ, widest gap first
Country	More in ASCIMore in SCZ	ASCI	SCZ
Japan	SCZ +15.5 points	22.7%	38.2%
India	ASCI +8.1 points	8.1%	0.0%
Sweden	SCZ +5.4 points	0.0%	5.4%
South Korea	ASCI +5.3 points	5.3%	0.0%
Taiwan	ASCI +5.1 points	5.1%	0.0%
South Africa	ASCI +4.2 points	4.2%	0.0%
Canada	ASCI +4.1 points	4.1%	0.0%
Australia	SCZ +3.4 points	7.5%	10.9%
Other countries (18)	SCZ +2.6 points	42.9%	45.5%

Outside the US: ASCI 67% developed, 33% emerging. SCZ 96% developed, 4% emerging.

Concentration

Weight in the 10 largest Holdings

ASCI35.8%
SCZ2.6%

Securities held

ASCI54
SCZ2,023

Asset class

ASCI: Equity
SCZ: Equity

Holdings

Only in ASCI28
In both26
Only in SCZ1,997

Only in ASCI

28 securities, 49.5% of ASCI by weight

Diploma PLC Common Stock GBP.054.26%
Asics Corp Common Stock4.19%
Ssc Government Mm Gvmxx3.94%
Welspun Corp Ltd Common Stock INR5.03.15%
Coway Co Ltd Common Stock KRW500.03.12%
Ces Energy Solutions Corp Common Stock3.07%
Regional Sab De Cv Common Stock2.85%
Navin Fluorine International Common Stock INR2.02.56%
Sinbon Electronics Co Ltd Common Stock TWD10.02.49%
Avalon Technologies Ltd Common Stock INR2.02.03%
Fabrinet Common Stock USD.012.01%
Hd Hyundai Marine Solution C Common Stock KRW500.01.94%
Finecobank Spa Common Stock EUR.331.38%
Taiwan Union Technology Corp Common Stock TWD10.01.36%
Tatton Asset Management PLC Common Stock GBP.21.31%
Fpt Corp Common Stock VND10000.01.31%
Fleury SA Common Stock1.21%
Cury Construtora E Incorpora Common Stock1.18%
Nova Ltd Common Stock1.12%
Shanghai Conant Optical Co H Common Stock CNY1.01.09%
Makalot Industrial Co Ltd Common Stock TWD10.01.04%
COM7 Pcl F Foreign Sh. THB.25 A1.00%
Extendicare Inc Common Stock0.87%
Borregaard Asa Common Stock NOK1.00.83%
Vnd0.19%
Hkd<0.01%
Cad<0.01%
Chf<0.01%

Only in SCZ

1,997 securities, 96.8% of SCZ by weight

Bluescope Steel0.29%
Imi PLC0.26%
Weir PLC0.25%
Psp Swiss Property AG0.24%
Storebrand0.23%
Frontline PLC0.23%
Hiscox Ltd0.23%
Food & Life Companies0.23%
Subsea0.22%
Shizuoka Financial Group Inc0.22%
Mebuki Financial Group Inc0.22%
Orica0.21%
Nippon Express Holdings0.21%
Accelleron N AG0.21%
Spie SA0.21%
Al Sydbank0.21%
Stockland Stapled Units Ltd0.21%
Ramsay Health Care0.20%
Dcc Energy PLC0.20%
St Jamess Place PLC0.20%
Isetan Mitsukoshi Holdings0.20%
Rohm0.20%
Fukuoka Financial Group0.20%
Games Workshop Group PLC0.20%
Niterra0.19%
Lottomatica Group0.19%
Nkt0.19%
Thyssenkrupp AG0.19%
SCOUT24 N0.19%
Cochlear0.19%
Sandfire Resources0.19%
Imcd NV0.19%
Aedifica NV0.19%
Gpt Group Stapled Units0.19%
Technology One0.19%
Taiyo Yuden Ltd0.19%
Meiji Holdings Ltd0.19%
Shimadzu0.18%
Charter Hall Group Stapled Units0.18%
Sojitz Corp0.18%
Saipem0.18%
Jfe Holdings0.18%
Icg PLC0.18%
Ampol0.18%
Brother Industries0.18%
Ackermans & Van Haaren NV0.18%
Sonic Healthcare0.18%
Croda International PLC0.18%
Ngk0.18%
Nice0.18%

Weight gaps

All 26 Holdings in both funds, largest gap first.

Holding weights in ASCI and SCZ, widest gap first
Holding	More in ASCIMore in SCZ	ASCI	SCZ
Baycurrent Inc Common Stock	ASCI +3.80 points	4.10%	0.30%
Misumi Group Inc Common Stock	ASCI +3.21 points	3.40%	0.19%
Fagron Common Stock	ASCI +3.14 points	3.19%	0.05%
Als Ltd Common Stock	ASCI +3.10 points	3.31%	0.21%
Nissan Chemical Corp Common Stock	ASCI +3.03 points	3.20%	0.17%
Ventia Services Group Pty Lt Common Stock	ASCI +2.81 points	2.90%	0.09%
Atalaya Mining Copper SA Common Stock GBP.075ATYM.L	ASCI +2.50 points	2.54%	0.04%
Kasumigaseki Capital Co Ltd Common Stock	ASCI +2.31 points	2.33%	0.02%
Gaztransport Et Techniga SA Common Stock EUR.01	ASCI +2.11 points	2.33%	0.22%
Japan Elevator Service Holdi Common Stock	ASCI +2.10 points	2.14%	0.04%
Hill & Smith PLC Common Stock GBP.25HILS.L	ASCI +2.01 points	2.10%	0.09%
Ringkjoebing Landbobank A/S Common Stock DKK1.0	ASCI +1.99 points	2.16%	0.17%
Pan African Resources PLC Common Stock GBP.01PAF.L	ASCI +1.93 points	2.02%	0.09%
Koninklijke Heijmans NV Cva Dutch Cert EUR.3	ASCI +1.82 points	1.88%	0.06%
Cie Automotive SA Common Stock EUR.25	ASCI +1.69 points	1.73%	0.04%
Nihon M+a Center Holdings In Common Stock	ASCI +1.49 points	1.52%	0.03%
Bachem Holding AG Common Stock CHF.01	ASCI +1.47 points	1.56%	0.09%
Cts Eventim AG & Co Kgaa Common Stock	ASCI +1.40 points	1.52%	0.12%
Imdex Ltd Common Stock	ASCI +0.98 points	1.01%	0.03%
Interparfums SA Common Stock EUR3.0	ASCI +0.96 points	0.99%	0.03%
Helios Towers PLC Common Stock GBP.01HTWS.L	ASCI +0.88 points	0.95%	0.07%
Avon Technologies PLC Common Stock GBP1.0AVON.L	ASCI +0.88 points	0.91%	0.03%
Tokyo Seimitsu Co Ltd Common Stock	ASCI +0.77 points	0.88%	0.11%
Chemring Group PLC Common Stock GBP.01CHG.L	ASCI +0.54 points	0.60%	0.06%
Renk Group AG Common Stock	ASCI +0.47 points	0.57%	0.10%
Brunello Cucinelli Spa Common Stock	ASCI +0.46 points	0.55%	0.09%

All ASCI holdings⁠All 2,025 SCZ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ASCI vs SCZ Cost

Overpaying ASCI vs SCZ

$5,516

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ASCI 0.70%
$13,606
SCZ 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

ASCI 0.70%
SCZ 0.40%
Overpaying

Year by year

Year	ASCI	SCZ	Overpaying
10	$1,250	$723	$527
20	$4,760	$2,793	$1,967
30	$13,606	$8,090	$5,516

Expense ratio

0.70%ASCI
0.40%SCZ, cheaper

SCZ0.40%ASCI0.70%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

SCZ 6th cheapest of 16 funds

ASCI 13th cheapest of 16 funds

ASCI vs SCZ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ASCI No data; SCZ 3.22%
Payout (12M): ASCI No data; SCZ $2.67
Last payment: ASCI $0.28; SCZ $1.17
Ex-dividend: ASCI Dec 19, 2025; SCZ Jun 15, 2026
Paid on: ASCI Dec 24, 2025; SCZ Jun 18, 2026
Frequency: ASCI Irregular; SCZ Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ASCIIrregular · 1 paymentAll ASCI payments⁠

SCZTwice a year · 20 paymentsAll SCZ payments⁠

ASCI vs SCZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ASCI 15.7%since Nov 2025SCZ 13.6%
Return per unit of riskSharpe ratio, 3 years: ASCI 0.004since Nov 2025SCZ 1.04
Worst fallMax drawdown, 5 years: ASCI −11.2%since Oct 2025SCZ −35.5%
Market sensitivityBeta, 5 years: ASCI 1.06SCZ 1.00; Market = 1

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