iShares Currency Hedged MSCI EAFE Small-Cap ETF (HSCZ) Performance
HSCZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.3% since Dec 31, 2025
- 1 year
- +13.6% total return
- 5 years
- +10.1% a year
- 10 years
- +11.2% a year
- Since first price
- +10.2% a year since 2015
HSCZ trailing returns vs SPY, QQQ, AGG
| Period | HSCZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.0% | −3.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.3% | −0.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.4% | +2.0% | +7.8% | +8.4% | −1.5% |
| YTD | +10.3% | +8.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.6% | +9.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +77.0%+21.0%/yr | +61.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +61.9%+10.1%/yr | +12.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +189.4%+11.2%/yr | +70.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionJul 14, 2015 | +197.9%+10.2%/yr | +70.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HSCZ vs SPY
From Jul 14, 2015: HSCZ grew to $29,789, SPY to $43,373.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HSCZ returns by calendar year
8 of 10 full years positive. Best 2019 (+27.7%), worst 2018 (−14.0%). 2026 is year to date.
HSCZ annual returns table
| Year | HSCZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.3% | −9.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +25.7% | −12.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.9% | −9.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.0% | −9.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.5% | −19.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +17.8% | −6.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +6.4% | −34.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +27.7% | −7.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.0% | −20.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +24.5% | −3.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +6.9% | −14.3% | +12.0% | +7.1% | +2.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HSCZ largest drawdowns
Now 4.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2020 | −34.9% | Mar 16, 2020 | Nov 23, 2020 | 33 days | 9 months |
| May 22, 2018 | −20.7% | Dec 24, 2018 | Nov 1, 2019 | 7 months | 1.4 years |
| Sep 7, 2021 | −20.1% | Sep 29, 2022 | Dec 19, 2023 | 1.1 years | 2.3 years |
| Jul 20, 2015 | −17.0% | Feb 11, 2016 | Oct 3, 2016 | 7 months | 1.2 years |
| Mar 19, 2025 | −12.8% | Apr 8, 2025 | May 8, 2025 | 20 days | 50 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HSCZ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2015 |
|---|---|---|---|---|
| Annualized return | +19.6% | +11.1% | +11.6% | +10.5% |
| Volatility (annualized) | 9.6% | 11.7% | 13.4% | 13.5% |
| Sharpe ratio | 1.48 | 0.66 | 0.72 | 0.66 |
| Sortino ratio | 2.66 | 1.04 | 1.06 | 0.96 |
| Best month | +6.0% | +7.1% | +10.5% | +10.5% |
| Worst month | −6.6% | −7.1% | −16.7% | −16.7% |
| Best 12 months | +35.4% | +35.4% | +56.2% | +56.2% |
| Worst 12 months | +5.6% | −16.4% | −16.4% | −16.4% |
| Positive months | 72% | 62% | 66% | 64% |
| Beta vs S&P 500 | 0.56 | 0.62 | 0.74 | — |
| Correlation with S&P 500 | 0.72 | 0.83 | 0.85 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HSCZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 124 | −16.4% | +13.0% | +56.2% | 77% |
| 3-year (a year) | 100 | −1.4% | +9.3% | +20.2% | 99% |
| 5-year (a year) | 76 | +3.6% | +9.9% | +14.7% | 100% |
| 10-year (a year) | 16 | +9.4% | +11.3% | +12.3% | 100% |
Every holding period starting at a month-end since 2015. Returns for 3 years and longer are annualized.
HSCZ performance overview
iShares Currency Hedged MSCI EAFE Small-Cap ETF (HSCZ) returned +13.6% over the past year and +11.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2015 it has returned +10.2% a year, turning $10,000 into about $29,789. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −34.9%, from Feb 12, 2020 to Mar 16, 2020, and it took 8 months to get back to the old high. HSCZ finished 8 of its 10 full calendar years with a gain; the best year was 2019 (+27.7%) and the worst 2018 (−14.0%). Volatility has been 13.5% a year.
Related: HSCZ chart, HSCZ holdings, HSCZ dividends. See the HSCZ overview for the latest quote and fund facts.
HSCZ performance FAQ
What is the HSCZ return over the past year?
HSCZ returned +13.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.9%.
What is the average annual return of HSCZ?
HSCZ has returned +10.1% a year over 5 years, +11.2% a year over 10 years, +10.2% a year since July 14, 2015 (total return, distributions reinvested).
How much would $10,000 invested in HSCZ be worth?
$10,000 invested in HSCZ at its first recorded close on July 14, 2015 would be worth about $29,789 on October 23, 2026 with distributions reinvested.
What was the worst year for HSCZ?
The worst calendar year was 2018, with a total return of −14.0%. The best was 2019 at +27.7%.
What is the biggest drawdown of HSCZ?
The largest peak-to-trough decline was −34.9% between February 12, 2020 and March 16, 2020. It recovered to the old high on November 23, 2020, 8 months after the bottom.
How volatile is HSCZ?
Over the past 3 years HSCZ had an annualized volatility of 9.6% and a Sharpe ratio of 1.48 (excess return over 1–3 month T-bills per unit of risk).