EZA

iShares MSCI South Africa ETF

iShares South Africa Index Fund is an exchange-traded fund incorporated in the USA. The Fund's objective is to provide investment results that correspond to the price and yield performance of publicly traded securities in the South African market, as measured by the MSCI South African Index. The Index consists of stocks primarily traded on the Johannesburg Stock Exchange.


Passive, Concentrated

MANAGEMENT MATRIX

AFK

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorBarclays Global Fund Advisors
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateFeb 03, 2003
Assets (mns)$266
Expense ratio58 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
FIRSTRAND LTD 8.4 %
GOLD FIELDS LTD 6.9 %
STANDARD BANK GROUP LTD 6.6 %
CAPITEC BANK HOLDINGS LTD 4.9 %
BID CORP. LTD. 4.1 %
MTN GROUP LIMITED 4.1 %
ABSA GROUP LTD 3.5 %
SHOPRITE HOLDINGS LTD 3.4 %
SANLAM LTD 3.3 %
NEDBANK GROUP LTD 2.7 %
Constituent Breakdown
Number of holdings32
Herfindahl-Hirschman Index 575
Wgt avg mkt cap (mns)$7,192
Large cap (>$10bn)36.9%
Mid cap ($2-10bn)63.1%
Small cap (<$2bn)0.0%
Developed mkts.0.0%
Emerging mkts.100.0%
Country Exposure
SOUTH AFRICA 75.6 %
LUXEMBOURG 1.7 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 5.0% -7.9% -0.5% 0.2% 0.0% 8.0%
Market Correlations
versus...BetaR-squared
S&P 5000.9138%
MSCI EAFE1.2061%
MSCI Emg Mkts1.0651%
Liquidity Measures
Avg. volume (000)170
Turnover2.5%
Avg. Bid/Ask (% of price)0.13%
ADV of underlying (mns)$380
Technical Indicators
Recent close$39.17
30d moving avg.$40.09
Annualized volatility26.4%
Relative strength (RSI)58
Short interest (ETF)2.2%
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. EZA
Expenses
vs. EZA
ALTAR Score™
vs. EZA
AFK VanEck Africa Index ETF   18.4%   +40 bp -2.1%
Risk and Returns: EZA 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
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
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Earnings 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
  2023 2024E Fwd Est 2025E
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 --%
1.2 9.1 1.4 5.2% --
Based on closing prices from 3/28/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
EZA



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™

EZA

10.9%

Cat. Avg

6.2%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™10.9%
Recommendation

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

Category Overview
There are 165 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 6.2% and a standard deviation of 4.9%. EZA's ALTAR Score™ is approximately 1.0 standard deviations above the category average. This places EZA in the 83rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
EZA
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)
EZA 58.0 12.5 70.5
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.