AFK

VanEck Africa Index ETF

VanEck Vectors Africa Index ETF seeks investment results that correspond to the price and yield performance of the Dow Jones Africa Titans 50 Index.


Passive, Semi-Diverse

MANAGEMENT MATRIX

FLZA

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorVan Eck Associates Corp
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateJul 10, 2008
Assets (mns)$46
Expense ratio77 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMulti-Factor
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
MTN NIGERIA COMMUNICATIONS PLC 5.6 %
ATTIJARIWAFA BANK 4.3 %
AIRTEL AFRICA PLC 4.3 %
GUARANTY TRUST HOLDING COMPANY PLC 3.8 %
COMMERCIAL INTL BANK-SP GDR 3.8 %
IVANHOE MINES LTD. CLASS A 3.7 %
ANGLO AMERICAN PLC 3.7 %
SAFARICOM PLC 3.6 %
ZENITH BANK LTD 3.6 %
EQUITY BANK LTD 2.9 %
Constituent Breakdown
Number of holdings81
Herfindahl-Hirschman Index 264
Wgt avg mkt cap (mns)$5,359
Large cap (>$10bn)15.4%
Mid cap ($2-10bn)49.3%
Small cap (<$2bn)24.8%
Developed mkts.28.8%
Emerging mkts.71.2%
Country Exposure
SOUTH AFRICA 28.0 %
NIGERIA 14.4 %
BRITAIN 12.6 %
MOROCCO 12.3 %
KENYA 8.1 %
CANADA 7.5 %
AUSTRALIA 5.2 %
EGYPT 3.8 %
UNITED STATES 3.3 %
CHINA 1.6 %
Historical Performance


Standardized Annual Returns (as of 02/28/2023)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
1.2% -20.9% -8.5% 1.3% -5.1% -3.0% -3.4%
Market Correlations
versus...BetaR-squared
S&P 5001.0466%
MSCI EAFE1.1477%
MSCI Emg Mkts1.0779%
Liquidity Measures
Avg. volume (000)12
Turnover0.4%
Avg. Bid/Ask (% of price)0.44%
ADV of underlying (mns)$1,079
Technical Indicators
Recent close$15.02
30d moving avg.$16.25
Annualized volatility26.8%
Relative strength (RSI)24
Short interest (ETF)0.3%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Comparable ETFs Based on Overlap
Ticker Fund Name Overlap
vs. AFK
Expenses
vs. AFK
ALTAR Score™
vs. AFK
FLZA Franklin FTSE South Africa ETF   22.8%   -58 bp -1.2%
EZA iShares MSCI South Africa ETF   21.3%   -20 bp -0.5%
NGE Global X MSCI Nigeria ETF   14.4%   +14 bp +14.5%
Risk and Returns: AFK vs. Comps (1 YR)

Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.

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Results & Estimates
  2018 2019 2020 2021 2022 2023E 2024E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2022 2023E Fwd Est 2024E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.3 7.5 1.3 5.4% --
Based on closing prices from 3/17/2023
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
AFK



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

AFK

11.0%

Cat. Avg

8.5%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™11.0%
Recommendation

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

Category Overview
There are 185 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 8.5% and a standard deviation of 4.4%. AFK's ALTAR Score™ is approximately 0.6 standard deviations above the category average. This places AFK in the 72nd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
AFK
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
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Today's Trading

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
AFK 77.0 44.2 121.2
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.