FRWD vs HSCZ
Comparison between Nomura Transformational Technologies ETF (FRWD, ETF) and ISHARES CURRENCY HEDGED MSCI EAFE SMALL-CAP ETF (HSCZ, ETF).
FRWD vs HSCZ - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
FRWD
$223M
HSCZ
$222M
Expense Ratio
FRWD
0.65%
Winner
HSCZ
0.43%
Max Drawdown
Winner
FRWD
18.49%
HSCZ
37.11%
Sharpe Ratio
Winner
FRWD
1.95
HSCZ
1.88
5Y Beta
FRWD
1.96
Winner
HSCZ
0.66
P/E Ratio
FRWD
45.18
HSCZ
N/A
Forward P/E
FRWD
29.28
HSCZ
N/A
PEG Ratio
FRWD
0.40
HSCZ
N/A
5Y Dividends CAGR
FRWD
N/A
HSCZ
7.51%
5Y EPS CAGR
FRWD
33.63%
HSCZ
N/A
P/S Ratio
FRWD
4.74
HSCZ
N/A
P/B Ratio
FRWD
13.38
HSCZ
N/A
FRWD vs HSCZ - Holdings Comparison
FRWD and HSCZ have 1 common holdings. Overlap is -35.83%
FRWD's top 25 holdings weight is 100.00%. HSCZ's top 25 holdings weight is 175.34%.
| Rank | FRWD | HSCZ |
|---|---|---|
| #1 | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 9.01% | ISHARES MSCI EAFE SMALL-CAP ETF (SCZ) - 99.35% |
| #2 | NVIDIA CORP (NVDA) - 8.12% | JPY/USD PURCHASED (n/a) - 35.81% |
| #3 | ADVANCED MICRO DEVICES INC (AMD) - 7.55% | EUR/USD PURCHASED (n/a) - 17.18% |
| #4 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 5.84% | GBP/USD PURCHASED (n/a) - 11.89% |
| #5 | LAM RESEARCH CORP (LRCX) - 5.67% | AUD/USD PURCHASED (n/a) - 10.43% |
| #6 | WESTERN DIGITAL CORP (WDC) - 5.22% | SEK/USD PURCHASED (n/a) - 4.65% |
| #7 | BROADCOM INC (AVGO) - 4.79% | ILS/USD PURCHASED (n/a) - 4.51% |
| #8 | MICRON TECHNOLOGY INC (MU) - 4.76% | CHF/USD PURCHASED (n/a) - 4.32% |
| #9 | ASML HOLDING NV ADR (ASML) - 4.75% | NOK/USD PURCHASED (n/a) - 2.43% |
| #10 | SAMSUNG ELECTRONICS CO LTD (n/a) - 4.33% | SGD/USD PURCHASED (n/a) - 2.06% |
| #11 | MICROSOFT CORP (MSFT) - 4.07% | DKK/USD PURCHASED (n/a) - 1.83% |
| #12 | TEXAS INSTRUMENTS INC (TXN) - 3.70% | HKD/USD PURCHASED (n/a) - 1.70% |
| #13 | CELESTICA INC ORDINARY SHARES (SUBORDINATE VOTING) (CLS) - 3.43% | CASH OFFSET (n/a) - 0.63% |
| #14 | AMAZON.COM INC (AMZN) - 3.41% | NZD/USD PURCHASED (n/a) - 0.36% |
| #15 | NETFLIX INC (NFLX) - 3.29% | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 0.05% |
| #16 | KRATOS DEFENSE & SECURITY SOLUTIONS INC (KTOS) - 2.98% | USD CASH (n/a) - 0.00% |
| #17 | SPOTIFY TECHNOLOGY SA (SPOT) - 2.90% | CHF CASH (n/a) - 0.00% |
| #18 | ALPHABET INC CLASS A (GOOGL) - 2.88% | NZD/USD SOLD (n/a) - -0.36% |
| #19 | DOORDASH INC ORDINARY SHARES CLASS A (DASH) - 2.58% | HKD/USD SOLD (n/a) - -1.70% |
| #20 | SERVICENOW INC (NOW) - 2.32% | DKK/USD SOLD (n/a) - -1.83% |
| #21 | CADENCE DESIGN SYSTEMS INC (CDNS) - 2.11% | SGD/USD SOLD (n/a) - -2.06% |
| #22 | SHOPIFY INC REGISTERED SHS -A- SUBORD VTG (SHOP) - 1.96% | NOK/USD SOLD (n/a) - -2.43% |
| #23 | BOOKING HOLDINGS INC (BKNG) - 1.85% | CHF/USD SOLD (n/a) - -4.32% |
| #24 | MERCADOLIBRE INC (MELI) - 1.82% | ILS/USD SOLD (n/a) - -4.51% |
| #25 | INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 0.66% | SEK/USD SOLD (n/a) - -4.65% |
| Total Holdings | 26 | 29 |
FRWD vs HSCZ - Historical Returns
Returns include dividend reinvestment.
1M
Winner
FRWD
+13.14%
HSCZ
+2.16%
3M
Winner
FRWD
+42.01%
HSCZ
+8.70%
6M
Winner
FRWD
+36.60%
HSCZ
+13.13%
1Y
FRWD
N/A
HSCZ
+29.00%
5Y(CAGR)
FRWD
N/A
HSCZ
+11.13%
10Y(CAGR)
FRWD
N/A
HSCZ
+12.40%
Max(CAGR)
Winner
FRWD
+110.57%
HSCZ
+10.64%
FRWD vs HSCZ - Annual Returns (2015 - 2026)
Returns include dividend reinvestment.
| Year | FRWD | HSCZ |
|---|---|---|
| 2026 | +36.60% | +10.84% |
| 2025 | N/A | +25.75% |
| 2024 | N/A | +13.38% |
| 2023 | N/A | +15.69% |
| 2022 | N/A | -12.14% |
| 2021 | N/A | +17.57% |
| 2020 | N/A | +5.21% |
| 2019 | N/A | +27.16% |
| 2018 | N/A | -13.89% |
| 2017 | N/A | +23.03% |
| 2016 | N/A | +8.91% |
| 2015 | N/A | +0.28% |
FRWD vs HSCZ Drawdown Comparison
The maximum drawdown for FRWD was -18.49%, occurring on Mar 30, 2026. Recovery took 53 trading sessions.
The maximum drawdown for HSCZ was -34.89%, occurring on Mar 16, 2020. Recovery took 198 trading sessions.
The current HSCZ drawdown is -0.18%.
| Rank | FRWD | HSCZ |
|---|---|---|
| #1 | -18.49% Jan 28, 2026 - Apr 15, 2026 | -34.89% Feb 12, 2020 - Nov 23, 2020 |
| #2 | -9.94% Jun 2, 2026 - Jun 15, 2026 | -20.59% May 22, 2018 - Nov 1, 2019 |
| #3 | -5.01% May 14, 2026 - May 22, 2026 | -20.10% Sep 7, 2021 - Dec 19, 2023 |
| #4 | -2.67% Apr 24, 2026 - May 1, 2026 | -17.04% Jul 20, 2015 - Oct 7, 2016 |
| #5 | -1.87% Jan 16, 2026 - Jan 22, 2026 | -12.81% Mar 19, 2025 - May 8, 2025 |
| #6 | -1.60% May 11, 2026 - May 14, 2026 | -9.83% Jul 16, 2024 - Sep 26, 2024 |
| #7 | -1.53% Jan 13, 2026 - Jan 16, 2026 | -9.61% Feb 27, 2026 - Apr 17, 2026 |
| #8 | -1.34% May 6, 2026 - May 8, 2026 | -7.84% Jan 23, 2018 - May 10, 2018 |
| #9 | -0.89% Apr 22, 2026 - Apr 24, 2026 | -4.24% Jan 17, 2020 - Feb 12, 2020 |
| #10 | -0.59% Apr 17, 2026 - Apr 22, 2026 | -3.96% Apr 16, 2021 - Jun 1, 2021 |
| #11 | -0.09% May 1, 2026 - May 5, 2026 | -3.64% Feb 18, 2025 - Mar 17, 2025 |
| #12 | N/A | -3.54% Jul 12, 2021 - Jul 23, 2021 |
| #13 | N/A | -3.48% Oct 27, 2025 - Nov 28, 2025 |
| #14 | N/A | -3.36% Apr 17, 2026 - May 11, 2026 |
| #15 | N/A | -3.16% Nov 8, 2017 - Dec 18, 2017 |
Correlation
Correlation between FRWD and HSCZ is 0.82 which considered as a strong positive correlation - the stocks tend to move together.
0.82
-101
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