FDTS vs SCZ: Grades, Fees and Holdings Compared

First Trust Developed Markets ex-US Small Cap AlphaDEX Fund

FDTSFNasdaq

iShares MSCI EAFE Small-Cap ETF

SCZANasdaq

Overlap

8.1%by weight

Expense ratio

SCZ −0.40pt a year

FDTS0.80%SCZ0.40%

Avg volume · 30D

SCZ 986.2×the volume

FDTS1.24KSCZ1.23M

10Y return · a year

FDTS +2.0pt

FDTS+10.1%SCZ+8.1%

FDTS vs SCZ Performance

Nov 9, 2021 – Nov 9, 2026

+65.2%FDTS+25.7%SCZ

Expense ratio: FDTS 0.80%; SCZ 0.40%, better
Fund size: FDTS $13M; SCZ $12.6B
1Y total return: FDTS +24.4%, better; SCZ +14.1%
Yield (12M): FDTS 2.73%; SCZ 3.20%, better
Holdings: FDTS 408; SCZ 2033
Avg volume (30D): FDTS 1.24K sh; SCZ 1.23M sh, better
NAV per share: FDTS $64.65; SCZ $80.92
52W range

ETF.net Grade

Pillar letters and Scores for FDTS, SCZ, with each pillar’s weight
Pillar	FDTS	SCZ
Cost30% weight	F7	A70Higher
Mission25% weight	Not scored	A100
Risk15% weight	D39	C47Higher
Tradability15% weight	F10	A79Higher
Holdings10% weight	C43	A76Higher
Durability5% weight	D27	A87Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. FDTS 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 4th and FDTS 16th of 16 funds in the International Small-Cap Category.

Rank 1ASCHCSchwab International Small-Cap Equity ETFScore 81
Rank 2AFNDCSchwab Fundamental International Small Company Index ETFScore 78
Rank 2AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 78
Rank 4ASCZiShares MSCI EAFE Small-Cap ETFScore 76
Rank 5AWSMLiShares MSCI World Small-Cap ETFScore 74
Rank 15FASCIabrdn International Small Cap Active ETFScore 24
Rank 16FFDTSFirst Trust Developed Markets ex-US Small Cap AlphaDEX FundScore 19

Our read on each fund

ETF.net Research

FDTSFFirst Trust Developed Markets ex-US Small Cap AlphaDEX Fund

SCZAiShares MSCI EAFE Small-Cap ETF

In short

FDTS Small caps outside the US, picked by rulebook instead of size: FDTS ranks developed-market small companies on growth and value marks, then holds roughly 400 of them. It has run this way since 2012.

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

FDTS The fund seeks to track, before fees and expenses, the price and yield performance of the Nasdaq AlphaDEX® Developed Markets Ex-US Small CapTM Index.

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

FDTS Runs a real screen. Stocks are ranked on growth and value marks under First Trust's AlphaDEX rules, not simply held because they are the biggest names on the board.ftportfolios.com
Roughly 400 holdings across developed-market small caps outside the US, so no single stock carries the portfolio.
Live since 2012, which means this methodology has a real-money record through several market cycles rather than a backtest. Cash goes out quarterly.

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

FDTS The sticker is 0.80% a year against a 0.38% median in its international multifactor group. INTF charges 0.16%, FDEV 0.18%.
A small fund that trades thinly, so bid-ask spreads and fill quality matter more here than with the giants of its peer group.
Fee and thin trading land it in the bottom quartile of its peer group on our overall read, even though the basket itself is built well.

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 FDTS profile⁠

Full SCZ profile⁠

FDTS vs SCZ Holdings

How FDTS and SCZ differ

Overlap by weight

8.1%

Shared holdings make up 52.2% of FDTS and 8.1% of SCZ.

Level by level

Holdings215 in both8.1%
Countryby domicile66.5%
Sector11 Sectors83.1%
Asset classStocks100%

Sector

Sector weights in FDTS and SCZ, widest gap first
Sector	Gap	FDTS	SCZ
Consumer Discretionary	FDTS +6.7 points	19.6%	12.9%
Real Estate	SCZ +6.3 points	3.5%	9.8%
Health Care	SCZ +3.4 points	3.6%	7.0%
Industrials	SCZ +3.4 points	19.9%	23.3%
Materials	FDTS +3.0 points	12.8%	9.8%
Consumer Staples	FDTS +2.7 points	7.9%	5.2%
Energy	FDTS +2.7 points	6.1%	3.4%
Technology	SCZ +2.4 points	6.7%	9.1%
Financials	FDTS +1.8 points	14.6%	12.8%
Utilities	SCZ +1.1 points	1.2%	2.3%
Communication	SCZ +0.3 points	4.2%	4.5%

Country, concentration and asset class

Country by domicile

Country weights in FDTS and SCZ, widest gap first
Country	Gap	FDTS	SCZ
South Korea	FDTS +15.2 points	15.2%	0.0%
China	FDTS +8.8 points	8.8%	0.0%
Canada	FDTS +6.4 points	6.4%	0.0%
United Kingdom	SCZ +5.0 points	8.4%	13.4%
Australia	SCZ +4.9 points	6.0%	10.9%
Sweden	SCZ +3.8 points	1.7%	5.5%
Switzerland	SCZ +3.6 points	1.0%	4.6%
Israel	SCZ +2.6 points	1.7%	4.3%
Other countries (18)	SCZ +10.6 points	50.8%	61.4%

Outside the US: FDTS 73% developed, 27% emerging. SCZ 96% developed, 4% emerging.

Concentration

Weight in the 10 largest Holdings

FDTS5.3%
SCZ2.6%

Securities held

FDTS399
SCZ2,017

Asset class

FDTS: Stocks
SCZ: Stocks

Holdings

Only in FDTS184
In both215
Only in SCZ1,802

Only in FDTS

184 securities, 47.3% of FDTS by weight

Youngone Holdings Co., Ltd.0.52%
361 Degrees International Limited0.49%
NHN Corporation0.49%
Topsports International Holdings Limited0.49%
Kameda Seika Co., Ltd.0.48%
Youngone Corporation0.48%
Kyung Dong Navien Co., Ltd.0.46%
Hankook & Company Co., Ltd.0.45%
Halfords Group Plc0.44%
SL Corp.0.44%
SK Discovery Co., Ltd.0.43%
Mattr Corp.0.43%
Mitsui Matsushima Holdings Co., Ltd.0.43%
Regal Partners Limited0.42%
Lotte Rental Co., Ltd.0.42%
Amerigo Resources Ltd.0.42%
Hi-Lex Corporation0.42%
Sebang Global Battery Co., Ltd.0.42%
Orezone Gold Corporation0.41%
Olam Group Ltd0.41%
Press Kogyo Co., Ltd.0.41%
Cosmecca Korea Co., Ltd.0.41%
Q Technology (Group) Company Limited0.40%
Generation Capital Ltd.0.40%
Global New Material International Holdings Limited0.39%
Funding Circle Holdings Plc0.39%
Xtep International Holdings Limited0.39%
Russel Metals Inc.0.39%
Riken Technos Corporation0.38%
Daiki Aluminium Industry Co., Ltd.0.37%
Netmarble Corporation0.37%
Centerra Gold Inc.0.37%
Okeanis Eco Tankers Corp.0.37%
Kumho Petrochemical Co., Ltd.0.37%
TK Corporation0.36%
Rural Funds Group0.36%
2nd Retailing Co., Ltd.0.36%
Kumho Tire Co., Inc.0.36%
Aecon Group Inc.0.36%
Sinofert Holdings Limited0.36%
DN Automotive Corporation0.36%
LOTTE Fine Chemical Co., Ltd.0.36%
KCC Corporation0.35%
Innocean Worldwide Inc.0.35%
Kamei Corporation0.35%
Binggrae Co., Ltd.0.35%
CapitaLand India Trust0.35%
DoubleUGames Co., Ltd.0.35%
Aya Gold & Silver Inc.0.35%
F&F Co., Ltd.0.34%

Only in SCZ

1,802 securities, 91.2% of SCZ by weight

Baycurrent Inc0.30%
Bluescope Steel0.27%
Imi PLC0.26%
Psp Swiss Property AG0.25%
Storebrand0.24%
Hiscox Ltd0.24%
Weir PLC0.24%
St Jamess Place PLC0.22%
Stockland Stapled Units Ltd0.22%
Spie SA0.22%
Gaztransport & Technigaz SA0.22%
Shizuoka Financial Group Inc0.22%
Al Sydbank0.22%
Als0.21%
Accelleron N AG0.21%
Subsea0.21%
Mebuki Financial Group Inc0.21%
Lottomatica Group0.21%
Dcc Energy PLC0.21%
Orica0.21%
Games Workshop Group PLC0.21%
Ramsay Health Care0.21%
Cochlear0.20%
Niterra0.20%
SCOUT24 N0.20%
Food & Life Companies0.20%
Charter Hall Group Stapled Units0.20%
Gpt Group Stapled Units0.20%
Aedifica NV0.20%
Nippon Express Holdings0.20%
Nkt0.20%
Imcd NV0.19%
Thyssenkrupp AG0.19%
Technology One0.19%
Icg PLC0.19%
Frontline PLC0.19%
Fukuoka Financial Group0.19%
Isetan Mitsukoshi Holdings0.19%
Car Group0.19%
Ackermans & Van Haaren NV0.19%
Meiji Holdings Ltd0.19%
Jfe Holdings0.18%
Jyske Bank0.18%
Sonic Healthcare0.18%
Croda International PLC0.18%
Misumi Group0.18%
Nordex0.18%
Ringkjobing Landbobank0.18%
Whitbread PLC0.18%
Sandfire Resources0.18%

Weight gaps

The 100 widest of 215 Holdings in both funds.

Holding weights in FDTS and SCZ, widest gap first
Holding	Gap	FDTS	SCZ
NewPrinces SpA	FDTS +0.58 points	0.59%	0.01%
Health and Happiness (H&H) International Holdings Limited	FDTS +0.57 points	0.59%	0.02%
NTG Nordic Transport Group A/S	FDTS +0.48 points	0.50%	0.02%
Happinet Corporation	FDTS +0.49 points	0.52%	0.03%
Saga PlcSAGA.L	FDTS +0.48 points	0.51%	0.03%
Lakefront Biotherapeutics N.V.	FDTS +0.47 points	0.50%	0.03%
Chow Sang Sang Holdings International Limited	FDTS +0.46 points	0.48%	0.02%
Charter Hall Retail REIT	FDTS +0.46 points	0.50%	0.04%
Megmilk Snow Brand Co., Ltd.	FDTS +0.44 points	0.47%	0.03%
Conduit Holdings Ltd.CRE.L	FDTS +0.44 points	0.46%	0.02%
SBS Holdings, Inc.	FDTS +0.43 points	0.45%	0.02%
Japan Pulp and Paper Co., Ltd.	FDTS +0.43 points	0.45%	0.02%
Luk Fook Holdings (International) Limited	FDTS +0.42 points	0.45%	0.03%
IP Group PlcIPO.L	FDTS +0.42 points	0.45%	0.03%
Stadler Rail AG	FDTS +0.42 points	0.48%	0.06%
Sapporo Breweries Limited	FDTS +0.42 points	0.54%	0.12%
Shinagawa Refra Co., Ltd.	FDTS +0.40 points	0.41%	<0.01%
Georgia Capital PlcCGEO.L	FDTS +0.40 points	0.45%	0.05%
Etablissements Maurel et Prom	FDTS +0.40 points	0.41%	0.01%
Bure Equity AB	FDTS +0.39 points	0.44%	0.05%
Dfds A/S	FDTS +0.39 points	0.41%	0.02%
Man Wah Holdings Ltd.	FDTS +0.39 points	0.40%	0.01%
Shibuya Corporation	FDTS +0.39 points	0.40%	0.01%
Yellow Cake PlcYCA.L	FDTS +0.39 points	0.44%	0.05%
LEG Immobilien SE	FDTS +0.37 points	0.50%	0.13%
Television Francaise 1	FDTS +0.37 points	0.38%	<0.01%
United Energy Group, Ltd.	FDTS +0.37 points	0.39%	0.02%
Shizuoka Gas Co., Ltd.	FDTS +0.36 points	0.37%	<0.01%
Matsuda Sangyo Co., Ltd.	FDTS +0.36 points	0.37%	0.01%
HomeCo Daily Needs REIT	FDTS +0.35 points	0.39%	0.04%
DeNA Co., Ltd.	FDTS +0.35 points	0.37%	0.02%
Kaga Electronics Co., Ltd.	FDTS +0.34 points	0.37%	0.03%
Beach Energy Limited	FDTS +0.34 points	0.37%	0.03%
RAIZNEXT Corporation	FDTS +0.34 points	0.35%	0.01%
Karoon Energy Ltd	FDTS +0.34 points	0.36%	0.02%
Arena REIT	FDTS +0.34 points	0.36%	0.02%
Oil Refineries Ltd.	FDTS +0.33 points	0.37%	0.04%
Topre Corporation	FDTS +0.33 points	0.35%	0.02%
Formula Systems (1985) Ltd.	FDTS +0.33 points	0.36%	0.03%
BWP Property Group Ltd	FDTS +0.33 points	0.37%	0.04%
Keller Group PlcKLR.L	FDTS +0.32 points	0.40%	0.08%
Ayalon Insurance Company Ltd.	FDTS +0.33 points	0.34%	0.01%
K+s AG	FDTS +0.32 points	0.39%	0.07%
J D Wetherspoon PlcJDW.L	FDTS +0.31 points	0.34%	0.03%
Shaftesbury Capital PlcSHC.L	FDTS +0.31 points	0.39%	0.08%
Construcciones y Auxiliar de Ferrocarriles SA	FDTS +0.31 points	0.35%	0.04%
Artience Co., Ltd.	FDTS +0.31 points	0.34%	0.03%
Nippon Shinyaku Co., Ltd.	FDTS +0.31 points	0.34%	0.03%
The Toho Bank, Ltd.	FDTS +0.31 points	0.34%	0.03%
Hosiden Corporation	FDTS +0.30 points	0.32%	0.02%
Dicker Data Limited	FDTS +0.31 points	0.34%	0.03%
The Oita Bank, Ltd.	FDTS +0.30 points	0.33%	0.03%
MegaChips Corporation	FDTS +0.30 points	0.31%	0.01%
Hanwa Co., Ltd.	FDTS +0.29 points	0.34%	0.05%
Aryt Industries, Ltd.	FDTS +0.29 points	0.30%	<0.01%
Toyo Tire Corporation	FDTS +0.29 points	0.38%	0.09%
Tasmea Limited	FDTS +0.28 points	0.30%	0.02%
Seria Co., Ltd.	FDTS +0.28 points	0.31%	0.03%
Draegerwerk AG & Company KGaA (Preference)	FDTS +0.28 points	0.31%	0.03%
Nittetsu Mining Co., Ltd.	FDTS +0.28 points	0.30%	0.02%
Iwatani Corporation	FDTS +0.26 points	0.32%	0.06%
MIXI Inc.	FDTS +0.27 points	0.29%	0.02%
Okinawa Financial Group, Inc.	FDTS +0.26 points	0.28%	0.02%
Hilton Food Group PlcHFG.L	FDTS +0.26 points	0.28%	0.02%
CITIC Telecom International Holdings Limited	FDTS +0.26 points	0.27%	0.01%
Johnson Electric Holdings Limited	FDTS +0.26 points	0.28%	0.02%
CMC Markets PlcCMCX.L	FDTS +0.26 points	0.28%	0.02%
Yue Yuen Industrial (Holdings) Limited	FDTS +0.26 points	0.30%	0.04%
Okasan Securities Group Inc.	FDTS +0.26 points	0.28%	0.02%
Proximus S.A. de droit public	FDTS +0.25 points	0.28%	0.03%
UACJ Corp.	FDTS +0.25 points	0.30%	0.05%
Zealand Pharma A/S	FDTS +0.25 points	0.31%	0.06%
Genus PlcGNS.L	FDTS +0.25 points	0.31%	0.06%
Chesnara PlcCSN.L	FDTS +0.24 points	0.27%	0.03%
Tokai Rika Co., Ltd.	FDTS +0.24 points	0.27%	0.03%
San ju San Financial Group, Inc.	FDTS +0.24 points	0.26%	0.02%
KYB Corporation	FDTS +0.23 points	0.26%	0.03%
CCI Group Inc	FDTS +0.24 points	0.27%	0.03%
Nishi-Nippon Railroad Co., Ltd.	FDTS +0.23 points	0.26%	0.03%
Tadano Ltd.	FDTS +0.23 points	0.25%	0.02%
JOST Werke AG	FDTS +0.23 points	0.26%	0.03%
Iino Kaiun Kaisha, Ltd.	FDTS +0.23 points	0.25%	0.02%
Cosmo Energy Holdings Co., Ltd.	FDTS +0.23 points	0.30%	0.07%
Metals X Limited	FDTS +0.23 points	0.26%	0.03%
The Awa Bank, Ltd.	FDTS +0.23 points	0.28%	0.05%
Kier Group PlcKIE.L	FDTS +0.23 points	0.28%	0.05%
The Ogaki Kyoritsu Bank, Ltd.	FDTS +0.23 points	0.27%	0.04%
Senshu Electric Co., Ltd.	FDTS +0.22 points	0.24%	0.02%
The Bank of Iwate, Ltd.	FDTS +0.22 points	0.24%	0.02%
Tsubakimoto Chain Co.	FDTS +0.23 points	0.26%	0.03%
Aichi Financial Group, Inc.	FDTS +0.22 points	0.27%	0.05%
NRW Holdings Limited	FDTS +0.22 points	0.27%	0.05%
Dowa Holdings Co., Ltd.	FDTS +0.22 points	0.29%	0.07%
Sumitomo Rubber Industries, Ltd.	FDTS +0.22 points	0.28%	0.06%
DOF Group ASA	FDTS +0.22 points	0.27%	0.05%
Hokuriku Electric Power Company	FDTS +0.21 points	0.24%	0.03%
Hakuto Co., Ltd.	FDTS +0.21 points	0.22%	<0.01%
Macmahon Holdings Limited	FDTS +0.20 points	0.22%	0.02%
Granges AB	FDTS +0.20 points	0.25%	0.05%
Sinch AB	FDTS +0.20 points	0.27%	0.07%

All 403 FDTS holdings⁠All 2,022 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.

FDTS vs SCZ Cost

Overpaying FDTS vs SCZ

$7,256

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

FDTS 0.80%
$15,346
SCZ 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

FDTS 0.80%
SCZ 0.40%
Overpaying

Year by year

Year	FDTS	SCZ	Overpaying
10	$1,422	$723	$699
20	$5,393	$2,793	$2,600
30	$15,346	$8,090	$7,256

Expense ratio

0.80%FDTS
0.40%SCZ, cheaper

SCZ0.40%FDTS0.80%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

SCZ 6th cheapest of 16 funds

FDTS 15th cheapest of 16 funds

FDTS vs SCZ Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FDTS 2.73%; SCZ 3.20%, better
Payout (12M): FDTS $1.82; SCZ $2.67
Last payment: FDTS $0.28; SCZ $1.17
Ex-dividend: FDTS Sep 24, 2026; SCZ Jun 15, 2026
Paid on: FDTS Sep 30, 2026; SCZ Jun 18, 2026
Frequency: FDTS Quarterly; SCZ Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FDTSQuarterly · 39 paymentsAll FDTS payments⁠

SCZTwice a year · 20 paymentsAll SCZ payments⁠

FDTS vs SCZ Risk

Fall from peak · 5 years

FDTS
SCZ

Risk facts

VolatilityStd dev, 3 years: FDTS 16.7%SCZ 13.6%, better
Return per unit of riskSharpe ratio, 3 years: FDTS 1.20, betterSCZ 1.04
Worst fallMax drawdown, 5 years: FDTS −30.6%, betterSCZ −35.3%
Market sensitivityBeta, 5 years: FDTS 1.02SCZ 1.00; Market = 1

Popular comparisons

FDTSFvsSCHCA
First Trust Developed Markets ex-US Small Cap AlphaDEX Fund · Schwab International Small-Cap Equity ETF
Expense ratio
0.80% · 0.06%
Category
SCZAvsVSSA
iShares MSCI EAFE Small-Cap ETF · Vanguard FTSE All-World ex-US Small-Cap ETF
Expense ratio
0.40% · 0.06%
Category
FDTSFvsFNDCA
First Trust Developed Markets ex-US Small Cap AlphaDEX Fund · Schwab Fundamental International Small Company Index ETF
Expense ratio
0.80% · 0.39%
Category
SCZAvsSCHCA
iShares MSCI EAFE Small-Cap ETF · Schwab International Small-Cap Equity ETF
Expense ratio
0.40% · 0.06%
Category
FDTSFvsVSSA
First Trust Developed Markets ex-US Small Cap AlphaDEX Fund · Vanguard FTSE All-World ex-US Small-Cap ETF
Expense ratio
0.80% · 0.06%
Category
SCZAvsFNDCA
iShares MSCI EAFE Small-Cap ETF · Schwab Fundamental International Small Company Index ETF
Expense ratio
0.40% · 0.39%
Category