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.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
$ 448.3 M
ASSETS UNDER MGMT
59 bp
EXPENSES
Fund Basics
| Inception date | Feb 03, 2003 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Semi-annual |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ANGLOGOLD ASHANTI PLC | 11.9 % |
| GOLD FIELDS LTD | 8.6 % |
| NASPERS LIMITED CLASS N | 8.2 % |
| FIRSTRAND LTD | 7.5 % |
| STANDARD BANK GROUP LTD | 6.3 % |
| MTN GROUP LIMITED | 5.1 % |
| CAPITEC BANK HOLDINGS LTD | 4.8 % |
| ANGLO PLATINUM LTD | 3.8 % |
| ABSA GROUP LTD | 3.6 % |
| SASOL LTD | 3.6 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 557 |
| Wgt avg mkt cap (mns) | $14,423 |
| Large cap (>$10bn) | 56.6% |
| Mid cap ($2-10bn) | 20.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 1.4% |
| Emerging mkts. | 76.1% |
Sector Breakdown
Country Exposure
 |
SOUTH AFRICA | 76.1 % |
 |
LUXEMBOURG | 1.4 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -7.0% | -0.2% | 12.7% | 19.4% | 6.3% | 1.3% | 1.7% | 5.1% |
| Dividend Yield | 2.0% | 7.8% | 8.0% | 6.8% | 5.0% | 5.0% | 4.2% | 3.9% |
| Total Returns | -5.0% | 7.6% | 20.7% | 26.1% | 11.3% | 6.4% | 5.9% | 9.1% | Ann. Volatility | 35.3% | 33.5% | 29.2% | 28.3% | 29.0% | 31.1% | 34.5% | 33.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.63 | 40% |
| MSCI EAFE | 1.65 | 61% |
| MSCI Emg Mkts | 0.94 | 50% |
Liquidity Measures
| Avg. volume (000) | 166 |
| ADV traded (mns) | $10 |
| Turnover | 2.3% |
| Avg. Bid/Ask (% of price) | 0.15% |
Technical Indicators
| 30d moving avg. (EMA) | $65.22 |
| Relative strength (RSI) | 44 |
| MACD/Signal | -0.70/-0.88 |
| Bollinger Bands (Upper/Lower) | $65.77/$62.12 |
| Short interest (% of AUM) | 2.9% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. EZA |
Expenses vs. EZA |
ALTAR Score™ vs. EZA |
|---|---|---|---|---|
| AFK | VanEck Africa Index ETF | 22.0% | +17 bp | -1.3% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 13.6% | +16 bp | -3.2% |
| EART | Global X Rare Earth & Critical Materials ETF | 11.1% | 0 bp | -5.6% |
| EDIV | SPDR S&P Emerging Markets Dividend ETF | 10.1% | -10 bp | -2.4% |
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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| 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 | --% |
Based on closing prices from 10/26/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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 Rating
12.3%
ALTAR SCORE™
97th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 219 funds in the Emerging Equity category with an average
ALTAR Score™ of 8.1% and a standard deviation
of 2.3%. EZA's ALTAR Score™ is approximately 1.8 standard
deviations above the category average. This places EZA in the 97th percentile
among funds in the category.
Sell-Side Consensus
$
PRICE TARGET
-100.0%
UPSIDE