HSCZ vs SCHC: Grades, Fees and Holdings Compared

iShares Currency Hedged MSCI EAFE Small-Cap ETF

HSCZCNYSE Arca

Schwab International Small-Cap Equity ETF

SCHCANYSE Arca

Overlap

49.9%by weight

Expense ratio

SCHC −0.77pt a year

HSCZ0.83%SCHC0.06%

Avg volume · 30D

SCHC 14.6×the volume

HSCZ22.7KSCHC332K

10Y return · a year

HSCZ +3.6pt

HSCZ+11.6%SCHC+8.0%

HSCZ vs SCHC Performance

Nov 2, 2021 – Nov 2, 2026

+63.3%HSCZ+29.4%SCHC

Expense ratio: HSCZ 0.83%; SCHC 0.06%, better
Fund size: HSCZ $257M; SCHC $5.5B
1Y total return: HSCZ +15.8%, better; SCHC +10.1%
Yield (12M): HSCZ 3.12%; SCHC 3.49%, better
Holdings: HSCZ 2036; SCHC 2325
Avg volume (30D): HSCZ 22.7K sh; SCHC 332K sh, better
NAV per share: HSCZ $42.56; SCHC $48.02
52W range

ETF.net Grade

Pillar letters and Scores for HSCZ, SCHC, with each pillar’s weight
Pillar	HSCZ	SCHC
Cost30% weight	F0	A97Higher
Mission25% weight	Not scored	A100
Risk15% weight	A89Higher	D35
Tradability15% weight	A74Higher	B60
Holdings10% weight	A74Higher	B68
Durability5% weight	B57	A75Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. HSCZ and SCHC 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 ›

SCHC ranks 3rd and HSCZ 12th of 16 funds in the International Small-Cap Category.

Rank 1ASCZiShares MSCI EAFE Small-Cap ETFScore 79
Rank 1AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 79
Rank 3ASCHCSchwab International Small-Cap Equity ETFScore 78
Rank 4AFNDCSchwab Fundamental International Small Company Index ETFScore 75
Rank 11CDDLSWisdomTree Dynamic International SmallCap Equity ETFScore 50
Rank 12CHSCZiShares Currency Hedged MSCI EAFE Small-Cap ETFScore 46
Rank 13DAZTDAztlan Global Stock Selection Dm SMID ETFScore 38

Our read on each fund

ETF.net Research

HSCZCiShares Currency Hedged MSCI EAFE Small-Cap ETF

SCHCASchwab International Small-Cap Equity ETF

In short

HSCZ The hedged twin of the standard EAFE small-cap fund: the same universe of smaller companies in developed markets outside the US and Canada, with the currency swing dialed out by tracking a 100% hedged-to-USD index.

SCHC The bargain end of international small caps: Schwab charges 0.06% where the typical fund in this group sits near 0.40%. Roughly 2,200 stocks from developed markets outside the US, with Canada and South Korea in the mix.

Stated mandate

HSCZ The fund seeks to track an index of small-cap equities in international markets excluding the United States and Canada, while reducing the effect of currency fluctuations.

SCHC The fund seeks to track, before fees and expenses, the total return of the FTSE Developed Small Cap ex US Liquid Index.

Why people hold it

HSCZ Tracks the MSCI EAFE Small Cap 100% Hedged to USD Index, so the euro, yen and pound drive less of the result and the underlying businesses drive more.ishares.com
Currency hedging is everywhere in large-cap international funds and scarce down in small caps. This is BlackRock's version of that rarer combination.ishares.com
Broad, rules-based index exposure across developed markets outside the US and Canada, diversified rather than concentrated, and running under iShares since 2015.

SCHC 0.06% a year, against a peer-group median near 0.40%. In a corner of the market where fees usually run high, that gap is most of the pitch.schwabassetmanagement.com
About 2,200 holdings across developed markets outside the US. Broad enough that it behaves like the asset class rather than a concentrated bet.
Counts Canada and South Korea as developed markets, covering ground that EAFE-built rivals such as SCZ leave out by design.schwabassetmanagement.com ishares.com
Trading since 2010 and has tracked its FTSE developed small-cap benchmark tightly, one of the cleaner index implementations in its peer group.

Worth knowing

HSCZ Hedging is not free. The expense ratio sits well above the median for international small-cap funds, and above its own unhedged sibling SCZ.
The hedge cuts both ways. When the dollar weakens, unhedged peers such as SCZ and VSS collect that currency tailwind and this fund, by design, does not.
A smaller, thinly traded fund next to the giants of its category, so bid-ask spreads can be wider and limit orders matter more.

SCHC Foreign small caps swing harder than large caps, and holdings are priced in local currencies, so exchange-rate moves feed straight into results.
Developed markets only. Emerging-market small caps sit outside the mandate, which is where wider ex-US peers like VSS reach further.
Moderately traded rather than a top-of-tape name, and distributions land once or twice a year instead of quarterly.

Full HSCZ profile⁠

Full SCHC profile⁠

HSCZ vs SCHC Holdings

How HSCZ and SCHC differ

Overlap by weight

49.9%

Shared holdings make up 68.7% of SCHC and 50.0% of HSCZ.

Level by level

Holdings1,321 in both49.9%
Countryby domicile71.7%
Asset classEquity100%

Sector

No Sector split for HSCZ.

Country, concentration and asset class

Country by domicile

Country weights in HSCZ and SCHC, widest gap first
Country	More in HSCZMore in SCHC	HSCZ	SCHC
Japan	HSCZ +15.9 points	38.2%	22.3%
Canada	SCHC +12.2 points	0.0%	12.2%
South Korea	SCHC +6.8 points	0.0%	6.8%
Australia	HSCZ +4.5 points	10.9%	6.4%
Israel	HSCZ +2.9 points	4.5%	1.6%
Poland	SCHC +1.9 points	0.0%	1.9%
United Kingdom	HSCZ +1.5 points	13.1%	11.6%
United States	SCHC +1.3 points	0.0%	1.3%
Other countries (23)	SCHC +2.7 points	33.3%	36.0%

Outside the US: HSCZ 96% developed, 4% emerging. SCHC 88% developed, 12% emerging.

Concentration

Weight in the 10 largest Holdings

HSCZ2.7%
SCHC2.8%

Securities held

HSCZ2,020
SCHC2,309

Asset class

HSCZ: Equity
SCHC: Equity

Holdings

Only in HSCZ699
In both1,321
Only in SCHC988

Only in HSCZ

699 securities, 50.1% of HSCZ by weight

Eur/Usd0.33%
Baycurrent Inc0.30%
Bluescope Steel0.29%
Imi PLC0.26%
Jpy/Usd0.25%
Weir PLC0.25%
Psp Swiss Property AG0.24%
Hiscox Ltd0.23%
Food & Life Companies0.23%
Subsea0.22%
Shizuoka Financial Group Inc0.22%
Mebuki Financial Group Inc0.22%
Als0.21%
Orica0.21%
Nippon Express Holdings0.21%
Accelleron N AG0.21%
Spie SA0.21%
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%
Misumi Group0.19%
SCOUT24 N0.19%
Cochlear0.19%
Sandfire Resources0.19%
Imcd 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%
Toyo Suisan Ltd0.18%
Car Group0.18%

Only in SCHC

988 securities, 31.0% of SCHC by weight

South Bow0.29%
Dpm Metals0.28%
Eldorado Gold0.28%
Capital Power Corp0.27%
Prairiesky Royalty0.23%
G Mining Ventures Corp0.23%
Or Royalties Inc0.23%
B2GOLD0.22%
Ssr Mining0.21%
Oceanagold Corporation Corp0.20%
Capstone Copper Corp0.20%
Methanex0.20%
Definity Financial0.20%
Nexgen Energy0.19%
Blackberry0.19%
Onex0.19%
Chartwell Retirement Residences Re0.18%
Tamarack Valley Energy Ltd0.18%
Motor Oil (Hellas) Corinth Refiner0.18%
Brookfield Infrastructure Corp Cla0.18%
Cd Projekt Red0.18%
Benefit Systems0.17%
Riocan Real Estate Investment Trus0.17%
Ssc Government Mm Gvmxx0.16%
K92 Mining0.16%
Gibson Energy0.16%
Bank of Cyprus Holding0.16%
Colliers International Group Subor0.16%
Algonquin Power Utilities0.16%
Zabka Group Societe Anonyme SA0.16%
Torex Gold Resources0.16%
Athabasca Oil0.15%
Mda Space0.15%
Northland Power Inc0.15%
Centerra Gold0.15%
Brookfield Renewable Subordinate V0.15%
Jusung Engineering Ltd0.15%
Kinaxis Inc0.14%
Transalta0.14%
Peyto Exploration & Development0.14%
Discovery Mining Ltd0.14%
Baytex Energy0.14%
Granite Real Estate Investment Sta0.14%
Pge Polska Grupa Energetyczna SA0.14%
Bank Millennium SA0.13%
First Capital Realty Real Estate I0.13%
West Fraser Timber0.13%
Montage Gold0.13%
Russel Metals0.13%
Jumbo0.13%

Weight gaps

The 100 widest of 1,321 Holdings in both funds.

Holding weights in HSCZ and SCHC, widest gap first
Holding	More in HSCZMore in SCHC	HSCZ	SCHC
Storebrand	SCHC +0.10 points	0.23%	0.33%
Bridgepoint Group PLCBPT.L	SCHC +0.09 points	0.06%	0.15%
Frontline PLC	SCHC +0.08 points	0.23%	0.31%
Tieto	SCHC +0.08 points	<0.01%	0.08%
Gaztransport & Technigaz SA	SCHC +0.07 points	0.22%	0.29%
Insilico Medicine Cayman Topco	SCHC +0.07 points	0.02%	0.09%
Jyske Bank	SCHC +0.07 points	0.17%	0.24%
Acerinox	SCHC +0.07 points	0.09%	0.16%
Voestalpine AG	SCHC +0.07 points	0.14%	0.21%
Lottomatica Group	SCHC +0.07 points	0.19%	0.26%
Londonmetric Property Reit PLCLMP.L	SCHC +0.07 points	0.15%	0.22%
Aedifica NV	SCHC +0.06 points	0.19%	0.25%
Ringkjobing Landbobank	SCHC +0.07 points	0.17%	0.24%
Nkt	SCHC +0.06 points	0.19%	0.25%
Nexans SA	SCHC +0.06 points	0.14%	0.20%
Tritax Big Box Reit PLCBBOX.L	SCHC +0.07 points	0.13%	0.20%
Thyssenkrupp AG	SCHC +0.06 points	0.19%	0.25%
Allfunds Group PLC	SCHC +0.06 points	0.09%	0.15%
Avanza Bank Holding	SCHC +0.06 points	0.12%	0.18%
Konecranes	SCHC +0.06 points	0.16%	0.22%
Teleperformance	SCHC +0.06 points	0.11%	0.17%
Vallourec SA	SCHC +0.06 points	0.11%	0.17%
Wpp PLCWPP.L	SCHC +0.05 points	0.17%	0.22%
Efg International AG	SCHC +0.05 points	0.06%	0.11%
Flsmidth and Co Class B	SCHC +0.05 points	0.10%	0.15%
Technip Energies	SCHC +0.05 points	0.14%	0.19%
Man Group PLCEMG.L	SCHC +0.06 points	0.14%	0.20%
Al Sydbank	SCHC +0.05 points	0.21%	0.26%
Iss A’s	SCHC +0.05 points	0.16%	0.21%
Galenica AG	SCHC +0.05 points	0.15%	0.20%
Rotork PLCROR.L	SCHC +0.06 points	0.15%	0.21%
Georg Fischer AG	SCHC +0.05 points	0.15%	0.20%
Elis SA	SCHC +0.05 points	0.11%	0.16%
Perseus Mining Ltd	SCHC +0.06 points	0.15%	0.21%
Rightmove PLCRMV.L	SCHC +0.05 points	0.15%	0.20%
Lion Finance Group PLCBGEO.L	SCHC +0.05 points	0.16%	0.21%
Balfour Beatty PLCBBY.L	SCHC +0.05 points	0.16%	0.21%
Daishi Hokuetsu Financial Group	SCHC +0.05 points	0.09%	0.14%
Aberdeen Group PLCABDN.L	SCHC +0.05 points	0.15%	0.20%
EasyjetEZJ.L	SCHC +0.05 points	0.08%	0.13%
Metaplanet Kk	SCHC +0.05 points	0.02%	0.07%
Glanbia PLC	SCHC +0.05 points	0.13%	0.18%
Persimmon PLCPSN.L	SCHC +0.05 points	0.15%	0.20%
Valmet Corp	SCHC +0.05 points	0.13%	0.18%
Dno	SCHC +0.05 points	0.03%	0.08%
Harbour Energy PLCHBR.L	SCHC +0.05 points	0.09%	0.14%
Sbm Offshore	SCHC +0.05 points	0.14%	0.19%
Rs Group PLC	SCHC +0.05 points	0.14%	0.19%
Alk-Abello Class B	SCHC +0.05 points	0.14%	0.19%
Codan	SCHC +0.05 points	0.13%	0.18%
Van Lanschot Kempen NV	SCHC +0.05 points	0.05%	0.10%
Enagas SA	SCHC +0.05 points	0.13%	0.18%
Sparebank Sr-Norge	SCHC +0.04 points	0.15%	0.19%
Sectra Class B	SCHC +0.04 points	0.13%	0.17%
Unite Group Reit PLCUTG.L	SCHC +0.04 points	0.08%	0.12%
Mondi PLCMNDI.L	SCHC +0.04 points	0.13%	0.17%
Mycronic	SCHC +0.05 points	0.13%	0.18%
Ig Group Holdings PLCIGG.L	SCHC +0.05 points	0.11%	0.16%
Umicore SA	SCHC +0.04 points	0.13%	0.17%
Investec PLCINVP.L	SCHC +0.04 points	0.14%	0.18%
Shiga Bank	SCHC +0.04 points	0.08%	0.12%
Adecco Group AG	SCHC +0.04 points	0.14%	0.18%
Capricorn Metals Ltd Def	SCHC +0.04 points	0.10%	0.14%
Zegona Communications PLCZEG.L	SCHC +0.05 points	0.11%	0.16%
B&M European Value Retail PLCBME.L	SCHC +0.04 points	0.10%	0.14%
Nexi	SCHC +0.04 points	0.09%	0.13%
Bam Groep Koninklijke NV	SCHC +0.04 points	0.09%	0.13%
Azimut Holding	SCHC +0.04 points	0.12%	0.16%
Softcat PLCSCT.L	SCHC +0.04 points	0.08%	0.12%
Lagercrantz Group Class B	SCHC +0.04 points	0.13%	0.17%
Entain PLCENT.L	SCHC +0.04 points	0.11%	0.15%
Leg Immobilien N	SCHC +0.04 points	0.12%	0.16%
Aixtron	SCHC +0.04 points	0.11%	0.15%
Vault Minerals	SCHC +0.04 points	0.11%	0.15%
Aalberts	SCHC +0.04 points	0.13%	0.17%
Reply	SCHC +0.03 points	0.10%	0.13%
North Pacific Bank Ltd	SCHC +0.04 points	0.06%	0.10%
Renk Group AG	SCHC +0.04 points	0.10%	0.14%
Hyakugo Bank	SCHC +0.04 points	0.07%	0.11%
Taylor Wimpey PLCTW.L	SCHC +0.03 points	0.11%	0.14%
Loomis Class B	SCHC +0.03 points	0.11%	0.14%
Greatland Resources Ltd	SCHC +0.04 points	0.10%	0.14%
Computacenter PLCCCC.L	SCHC +0.04 points	0.11%	0.15%
Nishi-Nippon Financial Holdings In	SCHC +0.04 points	0.09%	0.13%
Cranswick PLCCWK.L	SCHC +0.03 points	0.11%	0.14%
Kbc Ancora NV	SCHC +0.04 points	0.11%	0.15%
Tecan Group AG	SCHC +0.03 points	0.11%	0.14%
Banca Generali	SCHC +0.04 points	0.10%	0.14%
Colonial Sfl Socimi SA	SCHC +0.03 points	0.05%	0.08%
Sulzer AG	SCHC +0.03 points	0.11%	0.14%
Citizen Watch Ltd	SCHC +0.03 points	0.08%	0.11%
Sanki Engineering	SCHC +0.03 points	0.05%	0.08%
Protector Forsikring	SCHC +0.04 points	0.07%	0.11%
Drax Group PLCDRX.L	SCHC +0.04 points	0.10%	0.14%
Mandatum	SCHC +0.04 points	0.08%	0.12%
Serco Group PLCSRP.L	SCHC +0.03 points	0.11%	0.14%
Inficon Holding AG	SCHC +0.04 points	0.10%	0.14%
Berkeley Group Holdings (The)BKG.L	SCHC +0.03 points	0.12%	0.15%
Qinetiq Group PLCQQ.L	SCHC +0.03 points	0.09%	0.12%
Lakefront Biother NV	SCHC +0.03 points	0.03%	0.06%

All HSCZ holdings⁠All 2,336 SCHC 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.

HSCZ vs SCHC Cost

Overpaying HSCZ vs SCHC

$14,589

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

HSCZ 0.83%
$15,859
SCHC 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

HSCZ 0.83%
SCHC 0.06%
Overpaying

Year by year

Year	HSCZ	SCHC	Overpaying
10	$1,474	$110	$1,364
20	$5,581	$432	$5,149
30	$15,859	$1,270	$14,589

Expense ratio

0.83%HSCZ
0.06%SCHC, cheaper

SCHC0.06%HSCZ0.83%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

SCHC cheapest of 16 funds

HSCZ 16th cheapest of 16 funds

HSCZ vs SCHC Dividends

Last 12 months to Nov 2, 2026

Yield (12M): HSCZ 3.12%; SCHC 3.49%, better
Payout (12M): HSCZ $1.34; SCHC $1.68
Last payment: HSCZ $0.57; SCHC $0.11
Ex-dividend: HSCZ Jul 2, 2026; SCHC Jun 24, 2026
Paid on: HSCZ Jul 8, 2026; SCHC Jun 29, 2026
Frequency: HSCZ Twice a year; SCHC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

HSCZTwice a year · 23 paymentsAll HSCZ payments⁠

SCHCTwice a year · 16 paymentsAll SCHC payments⁠

HSCZ vs SCHC Risk

Fall from peak · 5 years

HSCZ
SCHC

Risk facts

VolatilityStd dev, 3 years: HSCZ 9.3%, betterSCHC 14.9%
Return per unit of riskSharpe ratio, 3 years: HSCZ 1.56, betterSCHC 1.01
Worst fallMax drawdown, 5 years: HSCZ −19.9%, betterSCHC −35.8%
Market sensitivityBeta, 5 years: HSCZ 0.60SCHC 1.13; Market = 1

HSCZ and SCHC in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026SCHC

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HSCZ vs SCHC

In short

Stated mandate

Why people hold it

Worth knowing

How HSCZ and SCHC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HSCZ

Only in SCHC

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%

How HSCZ and SCHC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HSCZ

Only in SCHC

Weight gaps