SCZ vs TISC: Grades, Fees and Holdings Compared

iShares MSCI EAFE Small-Cap ETF

SCZANasdaq

Thrivent International Small Cap ETF

TISCDNasdaq

Overlap

31.2%by weight

Expense ratio

SCZ −0.15pt a year

SCZ0.40%TISC0.55%

Avg volume · 30D

SCZ 33.3×the volume

SCZ1.3MTISC39.1K

SCZ vs TISC Performance

Jul 31, 2026 – Oct 30, 2026

−1.4%SCZ−1.0%TISC

Expense ratio: SCZ 0.40%, better; TISC 0.55%
Fund size: SCZ $12.7B; TISC $115M
1Y total return: SCZ +12.2%; TISC No data
Yield (12M): SCZ 3.22%; TISC No data
Holdings: SCZ 2039; TISC 608
Avg volume (30D): SCZ 1.3M sh, better; TISC 39.1K sh
NAV per share: SCZ $82.65; TISC $23.05
52W range

ETF.net Grade

Pillar letters and Scores for SCZ, TISC, with each pillar’s weight
Pillar	SCZ	TISC
Cost30% weight	A70Higher	D33
Mission25% weight	A100	Not scored
Risk15% weight	B55	B58Higher
Tradability15% weight	A92Higher	D34
Holdings10% weight	A76Higher	D33
Durability5% weight	A85Higher	D29

Rank among International Small-Cap funds

How we build Categories ›

Same Category. SCZ and TISC 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 TISC 13th 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 13DAZTDAztlan Global Stock Selection Dm SMID ETFScore 38
Rank 13DTISCThrivent International Small Cap ETFScore 38
Rank 15FASCIabrdn International Small Cap Active ETFScore 22

Our read on each fund

ETF.net Research

SCZAiShares MSCI EAFE Small-Cap ETF

TISCDThrivent International Small Cap ETF

In short

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.

TISC Most international small-cap ETFs just track an index. TISC goes the other way: Thrivent's own managers pick developed-market small caps outside the US, spread across roughly 600 names in growth, value and core styles.

Stated mandate

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.

TISC The Fund seeks long-term capital appreciation.

Why people hold it

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.

TISC Active in a corner of the market dominated by index trackers. There is no underlying index to hug; Thrivent's in-house managers choose the non-US developed-market small caps.thriventfunds.com thriventfunds.com 2
Active without being a concentrated bet: roughly 600 holdings, spanning growth, value and core styles.thriventfunds.com
Developed markets only, so it skips the emerging-market slice built into all-world ex-US small-cap funds like VSS.thriventfunds.com
Run by a Fortune 500 firm that has managed an active small-mid cap ETF since 2022, so this is not its first ETF rodeo.thrivent.com thriventfunds.com

Worth knowing

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.

TISC Costs 0.55% a year, above the category median of 0.47% and many times the 0.06% charged by index staples SCHC and VSS. Stockpicking is the thing you are paying for.
Launched in June 2026, so there is no multi-year record to judge the managers' international small-cap calls against.thrivent.com
Younger and smaller than the category's index heavyweights, so it changes hands less often, which can widen the gap between bid and ask.

Full SCZ profile⁠

Full TISC profile⁠

SCZ vs TISC Holdings

How SCZ and TISC differ

Overlap by weight

31.2%

Shared holdings make up 85.3% of TISC and 36.1% of SCZ.

Level by level

Holdings519 in both31.2%
Countryby domicile90.1%
Asset classEquity100%

Sector

No Sector split for TISC.

Country, concentration and asset class

Country by domicile

Country weights in SCZ and TISC, widest gap first
Country	More in SCZMore in TISC	SCZ	TISC
Switzerland	SCZ +2.6 points	4.5%	1.9%
Norway	SCZ +1.7 points	2.7%	1.0%
Sweden	SCZ +1.7 points	5.4%	3.7%
United States	TISC +1.4 points	0.0%	1.4%
Netherlands	TISC +1.3 points	1.6%	2.9%
Finland	TISC +1.2 points	0.0%	1.2%
Portugal	TISC +1.1 points	0.0%	1.1%
France	TISC +1.1 points	3.7%	4.8%
Other countries (15)	Same weight	82.1%	82.1%

Outside the US: SCZ 96% developed, 4% emerging. TISC 96% developed, 4% emerging.

Concentration

Weight in the 10 largest Holdings

SCZ2.6%
TISC10.3%

Securities held

SCZ2,023
TISC606

Asset class

SCZ: Equity
TISC: Equity

Holdings

Only in SCZ1,504
In both519
Only in TISC87

Only in SCZ

1,504 securities, 63.3% of SCZ by weight

Baycurrent Inc0.30%
Weir PLC0.25%
Psp Swiss Property AG0.24%
Subsea0.22%
Als0.21%
Nippon Express Holdings0.21%
Al Sydbank0.21%
Stockland Stapled Units Ltd0.21%
Dcc Energy PLC0.20%
Rohm0.20%
Fukuoka Financial Group0.20%
Games Workshop Group PLC0.20%
Misumi Group0.19%
Cochlear0.19%
Aedifica NV0.19%
Taiyo Yuden Ltd0.19%
Meiji Holdings Ltd0.19%
Saipem0.18%
Icg PLC0.18%
Brother Industries0.18%
Croda International PLC0.18%
Toyo Suisan Ltd0.18%
Car Group0.18%
Jyske Bank0.17%
Ringkjobing Landbobank0.17%
Nissan Chemical Corp0.17%
Whitbread PLC0.17%
Yaskawa Electric0.16%
Kyoto Financial Group0.16%
Barratt Redrow PLC0.16%
Sekisui Chemical0.16%
Lion Finance Group PLC0.16%
Ssab Class B0.16%
Sysmex0.16%
Aberdeen Group PLC0.15%
Rotork PLC0.15%
Merlin Properties Reit0.15%
Londonmetric Property Reit PLC0.15%
Metlen Energy & Metals PLC0.15%
Georg Fischer AG0.15%
Gunma Bank0.15%
Kyuden Holdings0.15%
Mirvac Group Stapled Units0.15%
Matsukiyokara0.15%
Sparebank Sr-Norge0.15%
Skylark Holdings0.15%
Asahi Intecc0.14%
Burberry Group PLC0.14%
Horiba0.14%
Yokohama Rubber0.14%

Only in TISC

87 securities, 14.6% of TISC by weight

Msci Eafe DEC26 Ifus 202612185.04%
Asr Nederland NV Common Stock EUR.160.39%
Sekisui House Ltd Common Stock0.30%
Industrivarden Ab A Shs Common Stock SEK2.50.30%
Nn Group NV Common Stock EUR.120.30%
Unibail Rodamco Westfield Reit EUR5.00.29%
Daiwa Securities Group Inc Common Stock0.29%
Ssc Government Mm Gvmxx0.27%
M+g PLC Common Stock GBP.050.27%
Ipsen Common Stock EUR1.00.26%
Nippon Yusen Kk Common Stock0.26%
Japan Exchange Group Inc Common Stock0.24%
Banco De Sabadell SA Common Stock EUR.1250.24%
Qbe Insurance Group Ltd Common Stock0.23%
Italgas Spa Common Stock0.21%
Repsol SA Common Stock EUR1.00.21%
Disco Corp Common Stock0.20%
Bunzl PLC Common Stock GBP.32142860.20%
Kokusai Electric Corp Common Stock0.19%
Icg PLC Common Stock GBP.26250.19%
Japan Post Insurance Co Ltd Common Stock0.18%
Erste Group Bank AG Common Stock0.18%
Asahi Group Holdings Ltd Common Stock0.18%
Fed Home Ln Discount Nt Discount Not 01/27 0.000000.17%
Subaru Corp Common Stock0.16%
Kingfisher PLC Common Stock GBP.1571430.16%
Nitori Holdings Co Ltd Common Stock0.15%
Screen Holdings Co Ltd Common Stock0.15%
Shimizu Corp Common Stock0.14%
Daiwa House Industry Co Ltd Common Stock0.14%
Mitsubishi Hc Capital Inc Common Stock0.14%
Ck Hutchison Holdings Ltd Common Stock HKD1.00.13%
Bouygues SA Common Stock EUR1.00.13%
Orion Oyj Class B Common Stock EUR.650.13%
Mitsubishi Chemical Group Co Common Stock0.12%
Intl Consolidated Airline Di Common Stock EUR.10.12%
Opc Energy Ltd Common Stock0.12%
Befesa SA Common Stock0.11%
Agc Inc Common Stock0.10%
Singapore Airlines Ltd Common Stock0.10%
Forvia Common Stock EUR7.00.10%
Mapfre SA Common Stock EUR.10.10%
Fed Home Ln Discount Nt Discount Not 11/26 0.000000.09%
Fed Home Ln Discount Nt Discount Not 12/26 0.000000.09%
Ryohin Keikaku Co Ltd Common Stock0.08%
Rexel SA Common Stock EUR5.00.08%
Sanrio Co Ltd Common Stock0.08%
Carrefour SA Common Stock EUR2.50.07%
Wh Group Ltd Common Stock USD.00010.07%
Gea Group AG Common Stock0.07%

Weight gaps

The 100 widest of 519 Holdings in both funds.

Holding weights in SCZ and TISC, widest gap first
Holding	More in SCZMore in TISC	SCZ	TISC
Aurizon Holdings	TISC +0.61 points	0.13%	0.74%
Bam Groep Koninklijke NV	TISC +0.55 points	0.09%	0.64%
Ovs Spa	TISC +0.54 points	0.03%	0.57%
Construcciones Y Auxiliar De Ferro	TISC +0.51 points	0.04%	0.55%
Nippon Shokubai Ltd	TISC +0.48 points	0.05%	0.53%
Tsubakimoto Chain	TISC +0.46 points	0.03%	0.48%
Tp Icap Group PLCTCAP.L	TISC +0.42 points	0.09%	0.51%
Tokai Tokyo Financial Holdings	TISC +0.42 points	0.03%	0.45%
Ituran Location and Control LtdITRN	TISC +0.41 points	0.02%	0.43%
Yamada Holdings	TISC +0.40 points	0.06%	0.46%
Balfour Beatty PLCBBY.L	TISC +0.39 points	0.16%	0.55%
Nippon Electric Glass	TISC +0.39 points	0.06%	0.45%
Ctt Correios De Portugal	TISC +0.39 points	0.01%	0.40%
Kenon Holdings Ltd	TISC +0.38 points	0.03%	0.41%
Louis Hachette Group SA	TISC +0.38 points	0.03%	0.41%
Bluescope Steel	TISC +0.36 points	0.29%	0.65%
Academedia	TISC +0.36 points	0.02%	0.38%
Conduit Holdings LtdCRE.L	TISC +0.35 points	0.02%	0.37%
Ig Group Holdings PLCIGG.L	TISC +0.35 points	0.11%	0.46%
Dicker Data Ltd	TISC +0.34 points	0.04%	0.38%
Keller Group PLCKLR.L	TISC +0.35 points	0.08%	0.43%
Yokogawa Bridge Holdings Corp	TISC +0.34 points	0.02%	0.36%
Azimut Holding	TISC +0.34 points	0.12%	0.46%
Sojitz Corp	TISC +0.34 points	0.18%	0.52%
Japan Airlines	TISC +0.33 points	0.08%	0.41%
Cosmo Energy Holdings	TISC +0.33 points	0.08%	0.41%
Iss A’s	TISC +0.33 points	0.16%	0.49%
Man Group PLCEMG.L	TISC +0.32 points	0.14%	0.46%
Wereldhave NV	TISC +0.32 points	0.02%	0.34%
Nsd Ltd	TISC +0.31 points	0.04%	0.35%
Kier Group PLCKIE.L	TISC +0.31 points	0.05%	0.36%
Dksh Holding AG	TISC +0.30 points	0.10%	0.40%
Sonae SA	TISC +0.31 points	0.05%	0.36%
Ackermans & Van Haaren NV	TISC +0.30 points	0.18%	0.48%
Sinch	TISC +0.30 points	0.07%	0.37%
Hyakujushi Bank	TISC +0.30 points	0.05%	0.35%
Imi PLCIMI.L	TISC +0.30 points	0.26%	0.56%
Shawbrook Group PLCSHAW.L	TISC +0.30 points	0.01%	0.31%
Nrw Holdings	TISC +0.30 points	0.05%	0.35%
Ren Redes Energeticas Nacionais SA	TISC +0.29 points	0.04%	0.33%
Sacyr	TISC +0.29 points	0.07%	0.36%
Nanto Bank	TISC +0.29 points	0.04%	0.33%
Biprogy	TISC +0.28 points	0.07%	0.35%
Japan Petroleum Exploration	TISC +0.28 points	0.05%	0.33%
Attendo	TISC +0.28 points	0.04%	0.32%
Ts Tech Ltd	TISC +0.28 points	0.02%	0.30%
Orica	TISC +0.27 points	0.21%	0.48%
Okumura Corp	TISC +0.27 points	0.03%	0.30%
Dyno Nobel	TISC +0.27 points	0.14%	0.41%
Inabata Ltd	TISC +0.27 points	0.03%	0.30%
Ventia Services Group Ltd	TISC +0.27 points	0.09%	0.36%
Logista Cia De Distribucion Integr	TISC +0.26 points	0.07%	0.33%
Fcc Ltd	TISC +0.27 points	0.02%	0.29%
Dts	TISC +0.26 points	0.03%	0.29%
Meitec Group Holdings Inc	TISC +0.26 points	0.04%	0.30%
Vstecs Holdings Ltd	TISC +0.26 points	0.02%	0.28%
Molten Ventures PLCGROW.L	TISC +0.25 points	0.04%	0.29%
Coca-Cola Bottlers Japan Holdings	TISC +0.25 points	0.07%	0.32%
Juroku Financial Group Inc	TISC +0.25 points	0.06%	0.31%
Pirelli & C	TISC +0.24 points	0.09%	0.33%
Morgan Sindall Group PLCMGNS.L	TISC +0.24 points	0.07%	0.31%
Regis Resources	TISC +0.24 points	0.09%	0.33%
Huhtamaki	TISC +0.24 points	0.08%	0.32%
Comfortdelgro Corporation	TISC +0.24 points	0.06%	0.30%
Tieto	TISC +0.24 points	<0.01%	0.24%
Corbion NV Class C	TISC +0.23 points	0.05%	0.28%
Bic SA	TISC +0.23 points	0.04%	0.27%
Scor	TISC +0.23 points	0.17%	0.40%
Amano Corp	TISC +0.23 points	0.03%	0.26%
Dmg Mori	TISC +0.23 points	0.07%	0.30%
Nomura Real Estate Holdings Inc	TISC +0.22 points	0.09%	0.31%
Venture Corporation	TISC +0.22 points	0.09%	0.31%
Toyo Seikan Group Holdings	TISC +0.22 points	0.08%	0.30%
Kissei Pharmaceutical Ltd	TISC +0.22 points	0.02%	0.24%
Hanwa Ltd	TISC +0.21 points	0.05%	0.26%
Uol Group Ltd	TISC +0.22 points	0.08%	0.30%
Powerx Inc	TISC +0.21 points	<0.01%	0.22%
Sesa	TISC +0.21 points	0.02%	0.23%
Sbm Offshore	TISC +0.21 points	0.14%	0.35%
Noba Bank Group	TISC +0.21 points	0.05%	0.26%
Sumitomo Forestry	TISC +0.22 points	0.10%	0.32%
Nufarm	TISC +0.21 points	0.02%	0.23%
Saizeriya Ltd	TISC +0.20 points	0.04%	0.25%
Doshisha Ltd	TISC +0.21 points	0.01%	0.22%
Suzuken Ltd	TISC +0.20 points	0.06%	0.26%
Frontline PLC	TISC +0.20 points	0.23%	0.43%
Mitsubishi Materials	TISC +0.20 points	0.10%	0.30%
Takamatsu Construction Group Ltd	TISC +0.20 points	0.01%	0.21%
Quilter PLCQLT.L	TISC +0.20 points	0.09%	0.29%
Voestalpine AG	TISC +0.20 points	0.14%	0.34%
Alten SA	TISC +0.20 points	0.08%	0.28%
Riskified Ltd Class ARSKD	TISC +0.20 points	0.02%	0.22%
North Pacific Bank Ltd	TISC +0.19 points	0.06%	0.25%
Perenti Ltd	TISC +0.20 points	0.03%	0.23%
Tokyo Tatemono	TISC +0.20 points	0.10%	0.30%
Greatland Resources Ltd	TISC +0.19 points	0.10%	0.29%
Ambea	TISC +0.19 points	0.04%	0.23%
Nippon Television Holdings Inc	TISC +0.19 points	0.03%	0.22%
Umicore SA	TISC +0.19 points	0.13%	0.32%
Chudenko Corp	TISC +0.19 points	0.02%	0.21%

All 2,025 SCZ holdings⁠All 628 TISC 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.

SCZ vs TISC Cost

Overpaying TISC vs SCZ

$2,814

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

SCZ 0.40%
$8,090
TISC 0.55%
$10,904

Amount$10,000

Years30 years

Cost over time

SCZ 0.40%
TISC 0.55%
Overpaying

Year by year

Year	SCZ	TISC	Overpaying
10	$723	$988	$265
20	$2,793	$3,790	$997
30	$8,090	$10,904	$2,814

Expense ratio

0.40%SCZ, cheaper
0.55%TISC

SCZ0.40%TISC0.55%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

SCZ 6th cheapest of 16 funds

TISC 11th cheapest of 16 funds

SCZ vs TISC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SCZ 3.22%; TISC No data
Payout (12M): SCZ $2.67; TISC None
Last payment: SCZ $1.17; TISC No data
Ex-dividend: SCZ Jun 15, 2026; TISC No data
Paid on: SCZ Jun 18, 2026; TISC No data
Frequency: SCZ Twice a year; TISC No data

Distribution history

Per share, 2017 to 2026, same scale for both

SCZTwice a year · 20 paymentsAll SCZ payments⁠

TISCAll TISC payments⁠

No distribution history available.

SCZ vs TISC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: SCZ 13.6%TISC No data
Return per unit of riskSharpe ratio, 3 years: SCZ 1.04TISC No data
Worst fallMax drawdown, 5 years: SCZ −35.5%TISC No data
Market sensitivityBeta, 5 years: SCZ 1.00TISC 0.90; Market = 1

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