HSCZiShares Currency Hedged MSCI EAFE Small-Cap ETF
HSCZ Fund Description
HSCZ tracks an index of small-cap stocks from developed markets outside the US and Canada, hedged against movements in the underlying currencies for US investors.
HSCZ Factset Analytics Insight
HSCZ, launched July 1, 2015, offers no-frills exposure to small-cap developed-market stocks outside the US and Canada, with a currency hedge for US investors. The fund holds large and liquid SCZ to provide the equity exposure, which in turn holds the underlying stocks directly. This structure is akin to a Russian doll, rather than a derivative. Still, derivatives are used for the FX hedge: 1-month forward contracts. We see little additional risk from the forwards themselves, which should provide effective, but not perfect, hedging. HSCZ charges a reasonable fee, but tracking stats won’t be helpful as a gauge of holding costs. Its tracking error will look bad because its NAV is based on the market price of SCZ, which can trade when the index’s stock markets are closed. In all, HSCZ offers a straightforward basket of currency-hedged stocks. Trade the new fund with care.
HSCZ MSCI ESG Analytics Insight
iShares Currency Hedged MSCI EAFE Small-Cap ETF has an MSCI ESG Fund Rating of A based on a score of 6.14 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. iShares Currency Hedged MSCI EAFE Small-Cap ETF ranks in the 51st percentile within its peer group and in the 44th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
HSCZ Portfolio Data
HSCZ Index Data
HSCZ Portfolio Management
HSCZ Tax Exposures
HSCZ Fund Structure
HSCZ Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of HSCZ. HSCZ is rated a N/A out of 5.
HSCZ Top 10 Holdings
HSCZ Economic Development
HSCZ Performance Statistics
HSCZ MSCI ESG Ratings
HSCZ Benchmark Comparison Summary
HSCZ Benchmark Comparison Market Cap Size