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PDNvsHSCZETF Comparison

ETF 1

PDN

Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF

This fund is part of

DM Blended Cap

-1.13%

Full PDN fund page

VS

ETF 2

HSCZ

iShares Currency Hedged MSCI EAFE Small-Cap ETF

This fund is part of

DM Small Cap

-0.99%

Full HSCZ fund page

Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) belongs to the DM Blended Cap segment. iShares Currency Hedged MSCI EAFE Small-Cap ETF (HSCZ) is part of the DM Small Cap segment. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Non-Energy Materials. PDN is less expensive with a Total Expense Ratio (TER) of 0.47%, versus 0.83% for HSCZ. PDN is up 8.49% year-to-date (YTD) with -$40M in YTD flows. HSCZ performs better with 11.09% YTD performance, and +$68M in YTD flows. Run a side-by-side ETF comparison of PDN and HSCZ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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PDN vs HSCZ performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/30/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PDN HSCZ	-2.29%-1.98%	-1.22%-0.94%	+8.49%+11.09%	+12.41%+14.45%	+75.09%+77.03%	+36.38%+61.77%
Flows	PDN HSCZ	-+$3M	-$7M+$18M	-$40M+$68M	-$57M+$64M	-$325M+$92M	-$152M+$117M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PDN HSCZ	+11.32%+9.64%	+14.24%+12.39%	+13.92%+12.75%	+14.98%+13.62%
Max drawdown	PDN HSCZ	-5.34%-4.48%	-11.76%-9.57%	-12.82%-12.82%	-32.12%-19.85%
Max drawdown duration	PDN HSCZ	57d78d	163d46d	211d49d	1053d771d

Trading data

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	PDN	HSCZ
Last sale 10/30/2026 at 1:30 PM	$44.96	$42.61
Previous close 10/29/2026	$45.51	$43.08
Consolidated volume 10/29/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

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	PDN	HSCZ
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/30/2026 at 1:30 PM

Live

Closed

	PDN	HSCZ
Last price	$44.96	$42.61
1D performance	-1.21%	-1.09%
AuM	$342.13 M	$256.66 M
E/R	0.47%	0.83%

Characteristics

	PDN	HSCZ
Management strategy	Passive	Passive
Provider	Invesco	iShares
Benchmark	RAFI Fundamental Select Developed ex-US 1500 Index	MSCI EAFE Small Cap Index
N° of holdings	1563	2
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	September 27, 2007	June 29, 2015
ESG	No	No

More PDN data on Trackinsight

More HSCZ data on Trackinsight

Exposure

Countries

PDN

Japan

29.97%

Canada

8.3%

United Kingdom

8.25%

Republic of Korea

7.95%

Other

45.53%

HSCZ

Japan

37.21%

United Kingdom

11.81%

Australia

10.49%

Other

40.49%

Sectors

PDN

Finance

22.88%

Industrials

18.68%

Non-Energy Materi.

12.5%

Technology

10.12%

Consumer Non-Cycl.

8.1%

Consumer Cyclical.

7.13%

Other

20.59%

HSCZ

Finance

23.68%

Industrials

18.53%

Non-Energy Materi.

12.66%

Technology

11.21%

Consumer Cyclical.

7.28%

Other

26.64%

Diversification

PDN

Total weight of top 15 holdings out of 15

3.29%

HSCZ

Total weight of top 2 holdings out of 2

99.91%

Top 15 holdings

Data as of September 30, 2026

PDN

Atlassian Corp.

0.30%

Vår Energi ASA

0.22%

Tokai Carbon Co., Ltd.

0.22%

Banco Comercial Português SA

0.22%

ASMPT Ltd.

0.22%

Tower Semiconductor Ltd.

0.22%

GFL Environmental, Inc.

0.22%

Beazley Plc

0.21%

Jyske Bank A/S

0.21%

Getinge AB

0.21%

Andritz AG

0.21%

Sega Sammy Holdings, Inc.

0.21%

Hachijuni Nagano Bank, Ltd.

0.21%

Macnica Holdings, Inc.

0.21%

Daewoo Engineering & Construction Co. Ltd.

0.20%

HSCZ

US4642882736

99.87%

BlackRock Cash Funds - Treasury

0.03%

Frequently asked questions about PDN and HSCZ

How have the PDN and HSCZ ETFs performed in 2026?

As of October 30, 2026, PDN is up 8.49% year-to-date (YTD), while HSCZ has returned 11.09%. That puts HSCZ better performer ahead so far this year.

Which ETF is attracting more investor money: PDN or HSCZ?

Year-to-date, the PDN ETF saw -$40M in flows, compared to +$68M for HSCZ.

Which ETF is more volatile: PDN or HSCZ?

Over the past year, PDN had a volatility of 14.24%, while HSCZ experienced 12.39%.

Which ETF is bigger: PDN or HSCZ?

As of October 30, 2026, PDN holds $342.13 M in assets under management (AUM), while HSCZ manages $256.66 M.

What sectors do the PDN and HSCZ ETFs invest in?

PDN leans toward sectors like Finance, Industrials and Non-Energy Materials. Meanwhile, HSCZ focuses on Finance, Industrials and Non-Energy Materials.

What are the top holdings of the PDN ETF and HSCZ ETF?

PDN top holdings include Atlassian Corp., Vår Energi ASA and Tokai Carbon Co., Ltd.. HSCZ holds in its top three: US4642882736 and BlackRock Cash Funds - Treasury.

PDNvsHSCZETF Comparison

Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF

iShares Currency Hedged MSCI EAFE Small-Cap ETF

PDN vs HSCZ performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the PDN and HSCZ ETFs performed in 2026?

As of October 30, 2026, PDN is up 8.49% year-to-date (YTD), while HSCZ has returned 11.09%. That puts HSCZ better performer ahead so far this year.

Which ETF is attracting more investor money: PDN or HSCZ?

Year-to-date, the PDN ETF saw -$40M in flows, compared to +$68M for HSCZ.

Which ETF is more volatile: PDN or HSCZ?

Over the past year, PDN had a volatility of 14.24%, while HSCZ experienced 12.39%.

Which ETF is bigger: PDN or HSCZ?

As of October 30, 2026, PDN holds $342.13 M in assets under management (AUM), while HSCZ manages $256.66 M.

What sectors do the PDN and HSCZ ETFs invest in?

PDN leans toward sectors like Finance, Industrials and Non-Energy Materials. Meanwhile, HSCZ focuses on Finance, Industrials and Non-Energy Materials.

What are the top holdings of the PDN ETF and HSCZ ETF?

PDN top holdings include Atlassian Corp., Vår Energi ASA and Tokai Carbon Co., Ltd.. HSCZ holds in its top three: US4642882736 and BlackRock Cash Funds - Treasury.

Which ETF is more diversified: PDN or HSCZ?

PDN holds 1563 securities with 3.29% of its assets in the top 15. HSCZ has 2015 securities and a top 15 weight of 99.91%.

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