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
349.9 M
ASSETS UNDER MGMT
58 bp
EXPENSES
Fund Basics
| Fund sponsor | Barclays Global Fund Advisors |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 03, 2003 |
| Assets (mns) | $350 |
| Expense ratio | 58 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NASPERS LIMITED LTD CLASS N | 16.8 % |
| FIRSTRAND LTD | 7.7 % |
| GOLD FIELDS LTD | 7.6 % |
| ANGLOGOLD ASHANTI PLC | 6.9 % |
| STANDARD BANK GROUP LTD | 6.6 % |
| MTN GROUP LIMITED | 4.7 % |
| CAPITEC BANK HOLDINGS LTD | 4.4 % |
| SANLAM LTD | 3.4 % |
| ABSA GROUP LTD | 3.4 % |
| HARMONY GOLD MINING CO LTD | 3.3 % |
Constituent Breakdown
| Number of holdings | 29 |
| Herfindahl-Hirschman Index | 639 |
| Wgt avg mkt cap (mns) | $9,001 |
| Large cap (>$10bn) | 47.2% |
| Mid cap ($2-10bn) | 52.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 0.0% |
| Emerging mkts. | 100.0% |
Country Exposure
 |
SOUTH AFRICA | 71.3 % |
 |
LUXEMBOURG | 1.5 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.9% | 21.4% | 6.5% | -2.9% | 5.3% | -0.3% | 7.3% | Volatility | 19.8% | 24.9% | 25.7% | 28.6% | 33.0% | 31.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 43% |
| MSCI EAFE | 1.16 | 57% |
| MSCI Emg Mkts | 1.22 | 64% |
Liquidity Measures
| Avg. volume (000) | 127 |
| Turnover | 1.7% |
| Avg. Bid/Ask (% of price) | 0.13% |
| ADV of underlying (mns) | $286 |
Technical Indicators
| Recent close | $46.65 |
| 30d moving avg. | $46.67 |
| Annualized volatility | 26.6% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 5.0% |
| 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 |
|---|---|---|---|---|
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 17.7% | +17 bp | -1.1% |
| AFK | VanEck Africa Index ETF | 17.2% | +40 bp | +1.7% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/2/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
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 Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
EZA
10.9%
Cat. Avg
9.9%
ALTAR Score™ Calculation
Category Overview
There are 156 funds in the Emerging Equity category, with an average ALTAR Score™
of 9.9% and a standard deviation of
4.1%. EZA's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places EZA in the 60th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EZASELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| EZA (58 bp) Percentile rank | 61 |
Peer Group Expense Ratio Distribution
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. | 55.8 | 20.1 | 75.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .