HSCZ vs IIF

Comparison between ISHARES CURRENCY HEDGED MSCI EAFE SMALL-CAP ETF (HSCZ, ETF) and Morgan Stanley India Investment Fund Inc (IIF, ETF).

5-Year PerformanceHSCZ has outperformed IIF, delivering a return of +11.2% compared to +8.6%

HSCZ vs IIF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HSCZ(ETF)	IIF(ETF)
Net Assets	$244M	$244M
Expense Ratio	0.43%	N/A
Max Drawdown	37.11%	85.15%
Sharpe Ratio	1.40	-0.69
5Y Beta	0.63	0.46
5Y Dividends CAGR	17.81%	128.74%

Net Assets

HSCZ

$244M

Winner

IIF

$244M

Expense Ratio

HSCZ

0.43%

IIF

N/A

Max Drawdown

Winner

HSCZ

37.11%

IIF

85.15%

Sharpe Ratio

Winner

HSCZ

1.40

IIF

-0.69

5Y Beta

HSCZ

0.63

Winner

IIF

0.46

5Y Dividends CAGR

HSCZ

17.81%

Winner

IIF

128.74%

HSCZ vs IIF - Historical Returns

Returns include dividend reinvestment.

Period	HSCZ	IIF
1 month	+3.26%	+4.98%
3 months	+3.32%	+7.39%
6 months	+5.67%	-3.19%
1 year	+22.44%	-8.06%
5 years(CAGR)	+11.20%	+8.59%
10 years(CAGR)	+12.13%	+8.01%
Max(CAGR)	+10.78%	+13.79%

HSCZ

+3.26%

Winner

IIF

+4.98%

HSCZ

+3.32%

Winner

IIF

+7.39%

Winner

HSCZ

+5.67%

IIF

-3.19%

Winner

HSCZ

+22.44%

IIF

-8.06%

5Y(CAGR)

Winner

HSCZ

+11.20%

IIF

+8.59%

10Y(CAGR)

Winner

HSCZ

+12.13%

IIF

+8.01%

Max(CAGR)

HSCZ

+10.78%

Winner

IIF

+13.79%

HSCZ vs IIF - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HSCZ	IIF
2026	+14.58%	-6.96%
2025	+25.75%	+5.62%
2024	+13.38%	+30.11%
2023	+15.69%	+21.08%
2022	-12.14%	-10.32%
2021	+17.57%	+30.04%
2020	+5.21%	+5.23%
2019	+27.16%	+0.04%
2018	-13.89%	-21.78%
2017	+23.03%	+50.17%
2016	+8.91%	+8.14%
2015	+0.28%	-6.26%
2014	N/A	+58.58%
2013	N/A	-7.61%
2012	N/A	+27.71%
2011	N/A	-43.26%
2010	N/A	+22.07%
2009	N/A	+68.48%
2008	N/A	-55.37%
2007	N/A	+77.20%
2006	N/A	+43.07%
2005	N/A	+31.95%
2004	N/A	+16.57%
2003	N/A	+170.13%
2002	N/A	+14.42%
2001	N/A	-11.08%
2000	N/A	-26.41%
1999	N/A	+36.82%

HSCZ vs IIF Drawdown Comparison

The maximum drawdown for HSCZ was -34.89%, occurring on Mar 16, 2020. Recovery took 198 trading sessions.

The maximum drawdown for IIF was -66.78%, occurring on Nov 20, 2008. Recovery took 694 trading sessions.

The current HSCZ drawdown is -0.13%. The current IIF drawdown is -11.10%.

Rank	HSCZ	IIF
#1	-34.89% Feb 12, 2020 - Nov 23, 2020	-66.78% Jan 2, 2008 - Oct 4, 2010
#2	-20.59% May 22, 2018 - Nov 1, 2019	-59.10% Jan 23, 2018 - Aug 30, 2021
#3	-20.10% Sep 7, 2021 - Dec 19, 2023	-54.90% Feb 8, 2000 - Aug 22, 2003
#4	-17.04% Jul 20, 2015 - Oct 7, 2016	-49.86% Nov 5, 2010 - Nov 18, 2014
#5	-12.81% Mar 19, 2025 - May 8, 2025	-36.83% May 10, 2006 - Jul 9, 2007
#6	-9.83% Jul 16, 2024 - Sep 26, 2024	-34.47% Jan 13, 2004 - Dec 21, 2004
#7	-9.61% Feb 27, 2026 - Apr 17, 2026	-28.32% Mar 5, 2015 - Feb 2, 2017
#8	-7.84% Jan 23, 2018 - May 10, 2018	-24.17% Jun 27, 2025 - Mar 30, 2026
#9	-4.24% Jan 17, 2020 - Feb 12, 2020	-23.35% Jan 12, 2022 - Dec 6, 2023
#10	-3.96% Apr 16, 2021 - Jun 1, 2021	-21.21% Sep 19, 2005 - Jan 6, 2006
#11	-3.64% Feb 18, 2025 - Mar 17, 2025	-17.77% Mar 4, 2005 - Jun 22, 2005
#12	-3.54% Jul 12, 2021 - Jul 23, 2021	-17.61% Sep 27, 2024 - Jun 11, 2025
#13	-3.48% Oct 27, 2025 - Nov 28, 2025	-15.76% Nov 4, 2003 - Dec 1, 2003
#14	-3.36% Apr 17, 2026 - May 11, 2026	-15.75% Jul 23, 2007 - Sep 19, 2007
#15	-3.16% Nov 8, 2017 - Dec 18, 2017	-15.56% Oct 29, 2007 - Dec 5, 2007

Correlation

Correlation between HSCZ and IIF is 0.91 which considered as a very strong positive correlation - the stocks move almost identically together.

0.91

-101

Dividend Comparison (2000 - 2026)

HSCZ vs IIF dividend yield comparison.

Year	HSCZ	IIF
2026	1.30%	0.00%
2025	3.25%	7.95%
2024	3.26%	10.67%
2023	2.98%	14.61%
2022	26.91%	19.62%
2021	2.90%	3.75%
2020	1.46%	0.02%
2019	4.66%	0.14%
2018	6.15%	30.40%
2017	2.52%	15.23%
2016	2.57%	4.46%
2015	1.75%	0.16%
2011	0.00%	8.41%
2010	0.00%	9.64%
2008	0.00%	152.11%
2007	0.00%	52.30%
2006	0.00%	10.43%
2005	0.00%	10.39%
2004	0.00%	0.30%
2003	0.00%	0.75%
2002	0.00%	0.13%
2001	0.00%	12.29%
2000	0.00%	14.49%