HSCZ vs FRWD
Comparison between ISHARES CURRENCY HEDGED MSCI EAFE SMALL-CAP ETF (HSCZ, ETF) and Nomura Transformational Technologies ETF (FRWD, ETF).
HSCZ vs FRWD - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
HSCZ
$222M
Winner
FRWD
$223M
Expense Ratio
Winner
HSCZ
0.43%
FRWD
0.65%
Max Drawdown
HSCZ
37.11%
Winner
FRWD
18.49%
Sharpe Ratio
HSCZ
1.82
Winner
FRWD
1.89
5Y Beta
Winner
HSCZ
0.66
FRWD
1.97
P/E Ratio
HSCZ
N/A
FRWD
45.18
Forward P/E
HSCZ
N/A
FRWD
29.28
PEG Ratio
HSCZ
N/A
FRWD
0.40
5Y Dividends CAGR
HSCZ
7.51%
FRWD
N/A
5Y EPS CAGR
HSCZ
N/A
FRWD
33.63%
P/S Ratio
HSCZ
N/A
FRWD
4.74
P/B Ratio
HSCZ
N/A
FRWD
13.38
HSCZ vs FRWD - Holdings Comparison
HSCZ and FRWD have 1 common holdings. Overlap is -35.83%
HSCZ's top 25 holdings weight is 175.34%. FRWD's top 25 holdings weight is 100.00%.
| Rank | HSCZ | FRWD |
|---|---|---|
| #1 | ISHARES MSCI EAFE SMALL-CAP ETF (SCZ) - 99.35% | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 9.01% |
| #2 | JPY/USD PURCHASED (n/a) - 35.81% | NVIDIA CORP (NVDA) - 8.12% |
| #3 | EUR/USD PURCHASED (n/a) - 17.18% | ADVANCED MICRO DEVICES INC (AMD) - 7.55% |
| #4 | GBP/USD PURCHASED (n/a) - 11.89% | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 5.84% |
| #5 | AUD/USD PURCHASED (n/a) - 10.43% | LAM RESEARCH CORP (LRCX) - 5.67% |
| #6 | SEK/USD PURCHASED (n/a) - 4.65% | WESTERN DIGITAL CORP (WDC) - 5.22% |
| #7 | ILS/USD PURCHASED (n/a) - 4.51% | BROADCOM INC (AVGO) - 4.79% |
| #8 | CHF/USD PURCHASED (n/a) - 4.32% | MICRON TECHNOLOGY INC (MU) - 4.76% |
| #9 | NOK/USD PURCHASED (n/a) - 2.43% | ASML HOLDING NV ADR (ASML) - 4.75% |
| #10 | SGD/USD PURCHASED (n/a) - 2.06% | SAMSUNG ELECTRONICS CO LTD (n/a) - 4.33% |
| #11 | DKK/USD PURCHASED (n/a) - 1.83% | MICROSOFT CORP (MSFT) - 4.07% |
| #12 | HKD/USD PURCHASED (n/a) - 1.70% | TEXAS INSTRUMENTS INC (TXN) - 3.70% |
| #13 | CASH OFFSET (n/a) - 0.63% | CELESTICA INC ORDINARY SHARES (SUBORDINATE VOTING) (CLS) - 3.43% |
| #14 | NZD/USD PURCHASED (n/a) - 0.36% | AMAZON.COM INC (AMZN) - 3.41% |
| #15 | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 0.05% | NETFLIX INC (NFLX) - 3.29% |
| #16 | USD CASH (n/a) - 0.00% | KRATOS DEFENSE & SECURITY SOLUTIONS INC (KTOS) - 2.98% |
| #17 | CHF CASH (n/a) - 0.00% | SPOTIFY TECHNOLOGY SA (SPOT) - 2.90% |
| #18 | NZD/USD SOLD (n/a) - -0.36% | ALPHABET INC CLASS A (GOOGL) - 2.88% |
| #19 | HKD/USD SOLD (n/a) - -1.70% | DOORDASH INC ORDINARY SHARES CLASS A (DASH) - 2.58% |
| #20 | DKK/USD SOLD (n/a) - -1.83% | SERVICENOW INC (NOW) - 2.32% |
| #21 | SGD/USD SOLD (n/a) - -2.06% | CADENCE DESIGN SYSTEMS INC (CDNS) - 2.11% |
| #22 | NOK/USD SOLD (n/a) - -2.43% | SHOPIFY INC REGISTERED SHS -A- SUBORD VTG (SHOP) - 1.96% |
| #23 | CHF/USD SOLD (n/a) - -4.32% | BOOKING HOLDINGS INC (BKNG) - 1.85% |
| #24 | ILS/USD SOLD (n/a) - -4.51% | MERCADOLIBRE INC (MELI) - 1.82% |
| #25 | SEK/USD SOLD (n/a) - -4.65% | INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 0.66% |
| Total Holdings | 29 | 26 |
HSCZ vs FRWD - Historical Returns
Returns include dividend reinvestment.
1M
HSCZ
+1.43%
Winner
FRWD
+6.20%
3M
HSCZ
+8.11%
Winner
FRWD
+36.62%
6M
HSCZ
+13.18%
Winner
FRWD
+29.03%
1Y
HSCZ
+28.26%
FRWD
N/A
5Y(CAGR)
HSCZ
+10.94%
FRWD
N/A
10Y(CAGR)
HSCZ
+11.75%
FRWD
N/A
Max(CAGR)
HSCZ
+10.61%
Winner
FRWD
+86.01%
HSCZ vs FRWD - Annual Returns (2015 - 2026)
Returns include dividend reinvestment.
| Year | HSCZ | FRWD |
|---|---|---|
| 2026 | +10.37% | +29.03% |
| 2025 | +25.75% | N/A |
| 2024 | +13.38% | N/A |
| 2023 | +15.69% | N/A |
| 2022 | -12.14% | N/A |
| 2021 | +17.57% | N/A |
| 2020 | +5.21% | N/A |
| 2019 | +27.16% | N/A |
| 2018 | -13.89% | N/A |
| 2017 | +23.03% | N/A |
| 2016 | +8.91% | N/A |
| 2015 | +0.28% | N/A |
HSCZ vs FRWD Drawdown Comparison
The maximum drawdown for HSCZ was -34.89%, occurring on Mar 16, 2020. Recovery took 198 trading sessions.
The maximum drawdown for FRWD was -18.49%, occurring on Mar 30, 2026. Recovery took 53 trading sessions.
The current HSCZ drawdown is -0.60%. The current FRWD drawdown is -5.06%.
| Rank | HSCZ | FRWD |
|---|---|---|
| #1 | -34.89% Feb 12, 2020 - Nov 23, 2020 | -18.49% Jan 28, 2026 - Apr 15, 2026 |
| #2 | -20.59% May 22, 2018 - Nov 1, 2019 | -9.94% Jun 2, 2026 - Jun 10, 2026 |
| #3 | -20.10% Sep 7, 2021 - Dec 19, 2023 | -5.01% May 14, 2026 - May 22, 2026 |
| #4 | -17.04% Jul 20, 2015 - Oct 7, 2016 | -2.67% Apr 24, 2026 - May 1, 2026 |
| #5 | -12.81% Mar 19, 2025 - May 8, 2025 | -1.87% Jan 16, 2026 - Jan 22, 2026 |
| #6 | -9.83% Jul 16, 2024 - Sep 26, 2024 | -1.60% May 11, 2026 - May 14, 2026 |
| #7 | -9.61% Feb 27, 2026 - Apr 17, 2026 | -1.53% Jan 13, 2026 - Jan 16, 2026 |
| #8 | -7.84% Jan 23, 2018 - May 10, 2018 | -1.34% May 6, 2026 - May 8, 2026 |
| #9 | -4.24% Jan 17, 2020 - Feb 12, 2020 | -0.89% Apr 22, 2026 - Apr 24, 2026 |
| #10 | -3.96% Apr 16, 2021 - Jun 1, 2021 | -0.59% Apr 17, 2026 - Apr 22, 2026 |
| #11 | -3.64% Feb 18, 2025 - Mar 17, 2025 | -0.09% May 1, 2026 - May 5, 2026 |
| #12 | -3.54% Jul 12, 2021 - Jul 23, 2021 | N/A |
| #13 | -3.48% Oct 27, 2025 - Nov 28, 2025 | N/A |
| #14 | -3.36% Apr 17, 2026 - May 11, 2026 | N/A |
| #15 | -3.16% Nov 8, 2017 - Dec 18, 2017 | N/A |
Correlation
Correlation between HSCZ and FRWD is 0.81 which considered as a strong positive correlation - the stocks tend to move together.
0.81
-101
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