SCZ vs WSML: Grades, Fees and Holdings Compared

iShares MSCI EAFE Small-Cap ETF

SCZANasdaq

iShares MSCI World Small-Cap ETF

WSMLANasdaq

Overlap

33.9%by weight

Expense ratio

WSML −0.10pt a year

SCZ0.40%WSML0.30%

Avg volume · 30D

SCZ 78.8×the volume

SCZ1.3MWSML16.5K

SCZ vs WSML Performance

Oct 31, 2025 – Nov 2, 2026

+13.1%SCZ+16.4%WSML

Expense ratio: SCZ 0.40%; WSML 0.30%, better
Fund size: SCZ $12.7B; WSML $660M
1Y total return: SCZ +13.1%; WSML +16.4%, better
Yield (12M): SCZ 3.20%, better; WSML 2.84%
Holdings: SCZ 2039; WSML 3686
Avg volume (30D): SCZ 1.3M sh, better; WSML 16.5K sh
NAV per share: SCZ $82.65; WSML $34.02
52W range

ETF.net Grade

Pillar letters and Scores for SCZ, WSML, with each pillar’s weight
Pillar	SCZ	WSML
Cost30% weight	A70	A87Higher
Mission25% weight	A100Higher	A88
Risk15% weight	C49	B69Higher
Tradability15% weight	A92Higher	D30
Holdings10% weight	A76Higher	A74
Durability5% weight	A85Higher	C49

Rank among International Small-Cap funds

How we build Categories ›

Same Category. SCZ and WSML 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 1st and WSML 6th 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 5ADFISDimensional International Small Cap ETFScore 74
Rank 6AWSMLiShares MSCI World Small-Cap ETFScore 72
Rank 7AGWXState Street SPDR S&P International Small Cap ETFScore 71

Our read on each fund

ETF.net Research

SCZAiShares MSCI EAFE Small-Cap ETF

WSMLAiShares MSCI World 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.

WSML One ticker for small caps across the whole developed world, US included. Most funds on this shelf stop at the water's edge; WSML holds the full map, at 0.30% a year.

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.

WSML The Fund seeks to track an index composed of small-capitalization equities from developed markets globally.

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.

WSML The MSCI World Small Cap index spans 23 developed markets including the US, so roughly 3,500 small caps arrive in one holding instead of an ex-US fund plus a US one.msci.com
At 0.30%, the fee undercuts the typical charge in its peer group and iShares' own EAFE small-cap fund, SCZ, at 0.40%.
Straight market-cap weighting, no factor tilts, and it has tracked its index closely so far, which lands it in the upper half of its peer group overall.ishares.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.

WSML A 2025 launch that trades thinly next to the veterans of the category. Limit orders matter, and the risk read rests on a short history.
Because the index includes US names, it overlaps with a US small-cap fund rather than sitting beside one. Ex-US peers like VSS and SCHC leave that slice out.msci.com
Dividends land once or twice a year, not quarterly, and foreign holdings are unhedged, so currency moves ride along with the stocks.ishares.com

Full SCZ profile⁠

Full WSML profile⁠

SCZ vs WSML Holdings

How SCZ and WSML differ

Overlap by weight

33.9%

Shared holdings make up 97.9% of SCZ and 34.2% of WSML.

Level by level

Countryby domicile29.5%
Holdings1,830 in both33.9%
Sector11 Sectors88.1%
Asset classEquity100%

Sector

Sector weights in SCZ and WSML, widest gap first
Sector	More in SCZMore in WSML	SCZ	WSML
Health Care	WSML +5.9 points	6.1%	12.0%
Industrials	SCZ +4.3 points	23.2%	18.9%
Technology	WSML +2.6 points	10.4%	13.0%
Materials	SCZ +2.4 points	10.6%	8.2%
Real Estate	SCZ +1.9 points	9.6%	7.7%
Energy	WSML +1.6 points	3.7%	5.3%
Financials	WSML +1.4 points	13.1%	14.5%
Consumer Staples	SCZ +1.3 points	5.4%	4.1%
Communication	SCZ +1.1 points	4.2%	3.1%
Consumer Discretionary	SCZ +1.0 points	11.4%	10.4%
Utilities	WSML +0.5 points	2.2%	2.7%

Country, concentration and asset class

Country by domicile

Country weights in SCZ and WSML, widest gap first
Country	More in SCZMore in WSML	SCZ	WSML
United States	WSML +66.0 points	0.0%	66.0%
Japan	SCZ +24.9 points	38.2%	13.3%
United Kingdom	SCZ +8.6 points	13.2%	4.6%
Australia	SCZ +7.0 points	10.9%	3.9%
Canada	WSML +4.5 points	0.0%	4.5%
Sweden	SCZ +3.5 points	5.4%	1.9%
Switzerland	SCZ +2.9 points	4.5%	1.6%
Israel	SCZ +2.9 points	4.4%	1.5%
Other countries (10)	SCZ +20.7 points	23.4%	2.7%

Outside the US: SCZ 96% developed, 4% emerging. WSML 95% developed, 5% emerging.

Concentration

Weight in the 10 largest Holdings

SCZ2.6%
WSML2.7%

Securities held

SCZ2,023
WSML3,670

Asset class

SCZ: Equity
WSML: Equity

Holdings

Only in SCZ193
In both1,830
Only in WSML1,840

Only in SCZ

193 securities, 2.1% of SCZ by weight

Wilh. Wilhelmsen Holding A0.03%
Barrenjoey Group0.03%
Mitsubishi Pencil Ltd0.02%
Cirsa Enterprises Sau0.02%
Retail Estates NV0.02%
Tkc Corp0.02%
Mos Food Services Inc0.02%
Health and Happiness (H&H) Interna0.02%
Sbs Holdings0.02%
Trusco Nakayama Corp0.02%
Generation Development Group Ltd0.02%
Totech Corp0.02%
T Hasegawa Ltd0.02%
Arclands Corp0.02%
Komeri Ltd0.02%
Mitsuboshi Belting Ltd0.02%
Polypeptide N AG0.02%
Doutor Nichires Holdings Ltd0.02%
Yellow Hat Ltd0.02%
Yuasa Ltd0.02%
Maeda Kosen Ltd0.02%
Hemnet Group0.02%
Central Glass Ltd0.02%
Yamazen0.02%
Yokogawa Bridge Holdings Corp0.02%
Metawater Ltd0.02%
Avarda Bank0.02%
Japan Wool Textile Ltd0.02%
Crystal International Group Ltd0.02%
Royal Holdings Ltd0.02%
Galilei Holdings0.01%
Onward Holdings Ltd0.01%
T.s. Lines0.01%
S&B Foods Inc0.01%
Hochiki0.01%
Ricoh Leasing0.01%
Tsurumi Manufacturing Ltd0.01%
Nishio Holdings Ltd0.01%
Damico International Shipping SA0.01%
Champion Real Estate Investment Tr0.01%
Konishi Ltd0.01%
Tokyotokeiba Ltd0.01%
Kohnan Shoji Ltd0.01%
Funai Soken Holdings Inc0.01%
Takamatsu Construction Group Ltd0.01%
Redox0.01%
Zuken Inc0.01%
Paratus Energy Ser Ltd0.01%
Morita Holdings Corp0.01%
W.a.g Payment Solutions PLC0.01%

Only in WSML

1,840 securities, 65.9% of WSML by weight

Moderna0.72%
Tenet Healthcare Corp0.23%
Us Foods Holding0.22%
Viatris0.21%
Guardant Health0.21%
Roku Class A0.19%
Ovintiv0.19%
Rubrik Class A0.19%
Royal Gold0.19%
Permian Resources Class A0.19%
Apa0.18%
Woodward0.18%
East West Bancorp0.17%
Hf Sinclair0.17%
Revvity0.17%
Itt Inc0.17%
Host Hotels & Resorts Reit0.17%
Charles River Laboratories Interna0.17%
Nutanix Class A0.17%
Zebra Technologies Corp Class A0.17%
Td Synnex0.16%
Reinsurance Group of America0.16%
Jones Lang Lasalle0.16%
Tyler Technologies0.16%
Wesco International0.16%
Stanley Black & Decker0.16%
Exelixis Inc0.16%
Docusign0.15%
Macom Technology Solutions0.15%
Allegion PLC0.15%
Hasbro0.15%
Dynatrace Inc0.15%
Halozyme Therapeutics0.15%
Api Group0.15%
Performance Food Group0.15%
Godaddy Class A0.15%
James Hardie Industries PLC0.15%
Carlisle Companies0.15%
Caci International Inc Class A0.14%
Clean Harbors Inc0.14%
Medpace Holdings0.14%
Trimble Inc0.14%
Gartner0.14%
Manhattan Associates0.14%
Lincoln Electric Holdings0.14%
Equitable Holdings0.14%
Renaissancere Holding0.14%
Aramark0.14%
Ralph Lauren Class A0.14%
Assurant Inc0.14%

Weight gaps

The 100 widest of 1,830 Holdings in both funds.

Holding weights in SCZ and WSML, widest gap first
Holding	More in SCZMore in WSML	SCZ	WSML
Baycurrent Inc	SCZ +0.20 points	0.30%	0.10%
Bluescope Steel	SCZ +0.19 points	0.29%	0.10%
Imi PLCIMI.L	SCZ +0.17 points	0.26%	0.09%
Weir PLCWEIR.L	SCZ +0.16 points	0.25%	0.09%
Psp Swiss Property AG	SCZ +0.16 points	0.24%	0.08%
Storebrand	SCZ +0.16 points	0.23%	0.07%
Hiscox LtdHSX.L	SCZ +0.15 points	0.23%	0.08%
Food & Life Companies	SCZ +0.16 points	0.23%	0.07%
Frontline PLC	SCZ +0.15 points	0.23%	0.08%
Mebuki Financial Group Inc	SCZ +0.14 points	0.22%	0.08%
Subsea	SCZ +0.14 points	0.22%	0.08%
Shizuoka Financial Group Inc	SCZ +0.14 points	0.22%	0.08%
Gaztransport & Technigaz SA	SCZ +0.15 points	0.22%	0.07%
Als	SCZ +0.14 points	0.21%	0.07%
Spie SA	SCZ +0.14 points	0.21%	0.07%
Nippon Express Holdings	SCZ +0.14 points	0.21%	0.07%
Orica	SCZ +0.14 points	0.21%	0.07%
Stockland Stapled Units Ltd	SCZ +0.14 points	0.21%	0.07%
Accelleron N AG	SCZ +0.14 points	0.21%	0.07%
Al Sydbank	SCZ +0.14 points	0.21%	0.07%
Ramsay Health Care	SCZ +0.13 points	0.20%	0.07%
Dcc Energy PLCDCC.L	SCZ +0.13 points	0.20%	0.07%
Isetan Mitsukoshi Holdings	SCZ +0.13 points	0.20%	0.07%
Rohm	SCZ +0.13 points	0.20%	0.07%
St Jamess Place PLCSTJ.L	SCZ +0.13 points	0.20%	0.07%
Games Workshop Group PLCGAW.L	SCZ +0.14 points	0.20%	0.06%
Fukuoka Financial Group	SCZ +0.13 points	0.20%	0.07%
Lottomatica Group	SCZ +0.13 points	0.19%	0.06%
Niterra	SCZ +0.12 points	0.19%	0.07%
Aedifica NV	SCZ +0.13 points	0.19%	0.06%
Taiyo Yuden Ltd	SCZ +0.13 points	0.19%	0.06%
Nkt	SCZ +0.12 points	0.19%	0.07%
Saipem	SCZ +0.12 points	0.18%	0.06%
Cochlear	SCZ +0.13 points	0.19%	0.06%
Technology One	SCZ +0.13 points	0.19%	0.06%
Charter Hall Group Stapled Units	SCZ +0.12 points	0.18%	0.06%
Thyssenkrupp AG	SCZ +0.12 points	0.19%	0.07%
Shimadzu	SCZ +0.13 points	0.18%	0.06%
Imcd NV	SCZ +0.13 points	0.19%	0.06%
Misumi Group	SCZ +0.12 points	0.19%	0.07%
Sandfire Resources	SCZ +0.13 points	0.19%	0.06%
Gpt Group Stapled Units	SCZ +0.13 points	0.19%	0.06%
SCOUT24 N	SCZ +0.12 points	0.19%	0.07%
Sojitz Corp	SCZ +0.12 points	0.18%	0.06%
Brother Industries	SCZ +0.12 points	0.18%	0.06%
Jfe Holdings	SCZ +0.12 points	0.18%	0.06%
Meiji Holdings Ltd	SCZ +0.12 points	0.19%	0.07%
Ampol	SCZ +0.12 points	0.18%	0.06%
Icg PLCICG.L	SCZ +0.12 points	0.18%	0.06%
Ackermans & Van Haaren NV	SCZ +0.12 points	0.18%	0.06%
Sonic Healthcare	SCZ +0.12 points	0.18%	0.06%
Nice	SCZ +0.12 points	0.18%	0.06%
Croda International PLCCRDA.L	SCZ +0.12 points	0.18%	0.06%
Jyske Bank	SCZ +0.11 points	0.17%	0.06%
Ngk	SCZ +0.12 points	0.18%	0.06%
Ringkjobing Landbobank	SCZ +0.11 points	0.17%	0.06%
Getinge B	SCZ +0.11 points	0.17%	0.06%
Trend Micro	SCZ +0.12 points	0.17%	0.05%
Car Group	SCZ +0.12 points	0.18%	0.06%
Toyo Suisan Ltd	SCZ +0.12 points	0.18%	0.06%
Bezeq Israeli Telecommunication Co	SCZ +0.12 points	0.17%	0.05%
Wpp PLCWPP.L	SCZ +0.12 points	0.17%	0.05%
Whitbread PLCWTB.L	SCZ +0.11 points	0.17%	0.06%
Barratt Redrow PLCBTRW.L	SCZ +0.11 points	0.16%	0.05%
Howden Joinery Group PLCHWDN.L	SCZ +0.11 points	0.16%	0.05%
Nissan Chemical Corp	SCZ +0.11 points	0.17%	0.06%
Clal Insurance Enterprises Ltd	SCZ +0.11 points	0.17%	0.06%
Andritz AG	SCZ +0.11 points	0.17%	0.06%
Lion Finance Group PLCBGEO.L	SCZ +0.11 points	0.16%	0.05%
Yaskawa Electric	SCZ +0.11 points	0.16%	0.05%
Seiko Epson	SCZ +0.11 points	0.16%	0.05%
Iss A’s	SCZ +0.11 points	0.16%	0.05%
Ricoh	SCZ +0.11 points	0.17%	0.06%
Sekisui Chemical	SCZ +0.11 points	0.16%	0.05%
Kyoto Financial Group	SCZ +0.10 points	0.16%	0.06%
British Land ReitBLND.L	SCZ +0.10 points	0.16%	0.06%
Omron	SCZ +0.11 points	0.17%	0.06%
Scor	SCZ +0.11 points	0.17%	0.06%
Sysmex	SCZ +0.11 points	0.16%	0.05%
Konecranes	SCZ +0.11 points	0.16%	0.05%
Edenred	SCZ +0.11 points	0.17%	0.06%
Jb Hi-Fi Ltd	SCZ +0.11 points	0.16%	0.05%
Hachijuni Nagano Bank	SCZ +0.10 points	0.16%	0.06%
Ssab Class B	SCZ +0.10 points	0.16%	0.06%
Nordex	SCZ +0.11 points	0.16%	0.05%
Autotrader Group PLCAUTO.L	SCZ +0.10 points	0.16%	0.06%
Convatec Group PLCCTEC.L	SCZ +0.10 points	0.16%	0.06%
Perseus Mining Ltd	SCZ +0.10 points	0.15%	0.05%
Persimmon PLCPSN.L	SCZ +0.10 points	0.15%	0.05%
Metlen Energy & Metals PLCMTLN.L	SCZ +0.10 points	0.15%	0.05%
Georg Fischer AG	SCZ +0.10 points	0.15%	0.05%
Rotork PLCROR.L	SCZ +0.10 points	0.15%	0.05%
Balfour Beatty PLCBBY.L	SCZ +0.11 points	0.16%	0.05%
Aberdeen Group PLCABDN.L	SCZ +0.10 points	0.15%	0.05%
Merlin Properties Reit	SCZ +0.10 points	0.15%	0.05%
Mineral Resources	SCZ +0.10 points	0.15%	0.05%
Ono Pharmaceutical	SCZ +0.10 points	0.15%	0.05%
Galenica AG	SCZ +0.10 points	0.15%	0.05%
Mirvac Group Stapled Units	SCZ +0.10 points	0.15%	0.05%
Sumco	SCZ +0.10 points	0.15%	0.05%

All 2,025 SCZ holdings⁠All 3,679 WSML 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 WSML Cost

Overpaying SCZ vs WSML

$1,941

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

SCZ 0.40%
$8,090
WSML 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

SCZ 0.40%
WSML 0.30%
Overpaying

Year by year

Year	SCZ	WSML	Overpaying
10	$723	$545	$178
20	$2,793	$2,113	$680
30	$8,090	$6,149	$1,941

Expense ratio

0.40%SCZ
0.30%WSML, cheaper

WSML0.30%SCZ0.40%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

WSML 3rd cheapest of 16 funds

SCZ 6th cheapest of 16 funds

SCZ vs WSML Dividends

Last 12 months to Nov 2, 2026

Yield (12M): SCZ 3.20%, better; WSML 2.84%
Payout (12M): SCZ $2.67; WSML $0.97
Last payment: SCZ $1.17; WSML $0.29
Ex-dividend: SCZ Jun 15, 2026; WSML Jun 15, 2026
Paid on: SCZ Jun 18, 2026; WSML Jun 18, 2026
Frequency: SCZ Twice a year; WSML Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

SCZTwice a year · 20 paymentsAll SCZ payments⁠

WSMLTwice a year · 3 paymentsAll WSML payments⁠

SCZ vs WSML 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%WSML 13.3%since May 2025
Return per unit of riskSharpe ratio, 3 years: SCZ 1.04WSML 1.46since May 2025
Worst fallMax drawdown, 5 years: SCZ −35.5%WSML −10.7%since Apr 2025
Market sensitivityBeta, 5 years: SCZ 1.00WSML 0.89; Market = 1

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