ETF Evaluator:
iShares MSCI EAFE Small-Cap ETF (SCZ)
Follow This ETF
(as of Aug 12)
Best Performing in Foreign Small/Mid Blend Over the Last Year
| 26.1% | Avantis International Small Cp Eq ETF (AVDS) |
| 23.3% | Dimensional International Small Cap ETF (DFIS) |
| 22.2% | iShares Currency Hdgd MSCI EAFE SmCp ETF (HSCZ) |
| 20.5% | Foreign Small/Mid Blend () |
| 20.4% | iShares MSCI EAFE Small-Cap ETF (SCZ) |
Risk
Index
Risk
Index
ETF Details
iShares MSCI EAFE Small-Cap ETF Overview
iShares MSCI EAFE Small-Cap ETF (SCZ) is a passively managed International Equity Foreign Small/Mid Blend exchange-traded fund (ETF). iShares launched the ETF in 2007.
The investment seeks to track the investment results of the MSCI EAFE Small Cap Index composed of small-capitalization developed market equities, excluding the U.S. and Canada.
The fund generally will invest at least 80% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The index represents the small-capitalization segment of the MSCI EAFE IMI Index.
About iShares MSCI EAFE Small-Cap ETF (SCZ)
There are 4 members of the management team with an average tenure of 4.42 years: Jennifer Hsui (2012), Peter Sietsema (2025), Matt Waldron (2025) and Steven White (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI EAFE Small Cap NR USD index with a weighting of 100%. iShares MSCI EAFE Small-Cap ETF has 2076 securities in its portfolio. The top 10 holdings constitute 2.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares MSCI EAFE Small-Cap ETF is part of the Equity global asset class and is within the International Equity ETF group. iShares MSCI EAFE Small-Cap ETF has 98.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.0% There is 98.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares MSCI EAFE Small-Cap ETF has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $13 billion in total assets, which is above the $3 billion average for the Foreign Small/Mid Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SCZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares MSCI EAFE Small-Cap ETF expense ratio is average compared to funds in the Foreign Small/Mid Blend category. iShares MSCI EAFE Small-Cap ETF has an expense ratio of 0.40%, which is 3% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares MSCI EAFE Small-Cap ETF has a portfolio turnover rate of 18%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 17% for the Foreign Small/Mid Blend category.
Recently, in the month of July 2026, iShares MSCI EAFE Small-Cap ETF returned 1.4%, which earned it a grade of C, as the Foreign Small/Mid Blend category had an average return of 1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares MSCI EAFE Small-Cap ETF has a trailing yield of 3.18%, which is above the 2.98% category average.
The fund normally distributes its income semi-annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares MSCI EAFE Small-Cap ETF Grades
Year to date, the ETF has returned 9.7%, 1.0 percentage points better than the category, which translates into a grade of C. The fund has returned 20.4% over the past year (grade of C), 14.7% over the past three years (grade of D) and 5.3% per year over the past five years (grade of D) and 8.1% per year over the past 10 years (grade of C).
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SCZ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SCZ Return (NAV) | 1.4% | 1.4% | 20.4% | 14.7% | 5.3% | 8.1% |
| SCZ Return (Price) | 2.0% | 1.8% | 19.8% | 14.6% | 5.3% | 8.1% |
| NAV +/- Price Return | -0.564% | -0.352% | 0.668% | 0.030% | 0.004% | -0.049% |
| Foreign Small/Mid Blend Avg | 1.2% | 0.2% | 20.5% | 15.6% | 6.6% | 8.5% |
| SCZ Grade (NAV) | C | C | C | D | D | C |
| +/- Category (NAV) | 0.2% | 1.2% | -0.1% | -0.9% | -1.3% | -0.4% |
| SCZ Tax-Cost Ratio | na | na | 1.1% | 1.1% | 1.0% | 0.9% |
SCZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SCZ Return (NAV) | 9.7% | 32.1% | 1.3% | 12.9% | -21.2% | 10.0% | 12.1% | 24.7% | -17.8% | 32.5% | 2.4% |
| SCZ Return (Price) | 9.7% | 32.1% | 1.5% | 13.0% | -21.2% | 10.1% | 11.7% | 24.7% | -17.6% | 32.7% | 2.6% |
| NAV +/- Price Ret | -0.002% | -0.001% | 0.145% | 0.009% | 0.001% | 0.012% | -0.032% | -0.3% | -0.9% | 0.7% | 8.5% |
| Foreign Small/Mid Blend Avg | 8.7% | 33.8% | 3.8% | 13.9% | -18.4% | 12.5% | 10.3% | 23.5% | -17.6% | 30.2% | 4.1% |
| SCZ Grade (NAV) | C | D | F | D | D | F | B | C | B | B | F |
| +/- Category | 1.0% | -1.7% | -2.4% | -1.0% | -2.8% | -2.5% | 1.7% | 1.2% | -0.2% | 2.3% | -1.7% |
| Risk Measures | |
| Beta: | 1.00 |
| R-Squared: | 86% |
| Standard Deviation: | 15.0% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.22 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 3.2% |
| Total Assets: | $ 13,203 Mil |
| Share Class Assets: | $ 13,203 Mil |
| Turnover: | 18.0% |
| Expense Ratio: | 0.40% |
| Index Fund: | Yes |
| Index Tracked: | MSCI ACWI Ex USA NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.7 years | |||
| Average Tenure: 4.4 years | |||
| Managers (Year): Hsui Jennifer (2012), Sietsema Peter (2025), Waldron Matt (2025), White Steven (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 2076 |
| % in Top 10 Holdings: | 2.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.1% |
Portfolio Allocation |
|
| Domestic Stock: | 1.0% |
| Foreign Stock: | 98.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 0.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | www.ishares.com |
| Inception Date: | December 10, 2007 |
Expenses and Fees
| Expense Ratio (%): | 0.40% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.39% |
