VanEck Africa Index ETF

10-Year Study

AFK.US · · US · ETF

Executive Summary: VanEck Africa Index ETF has compounded at 6.6% annually over the last 10 years, with a maximum drawdown of 47.7% and an annualized volatility of 21.1%.

1Y CAGR
+56.1%
3Y CAGR
+26.0%
5Y CAGR
+7.0%
10Y CAGR
+6.6%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
47.7%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.23
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.31
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
20.9%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +74.7%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · -19.6%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
70%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20264.39.6-15.79.5————————5.4%
20257.0-0.55.62.16.76.43.97.08.7-1.83.19.574.7%
2024-3.2-1.610.81.76.5-0.33.40.52.7-2.1-1.8-4.112.1%
20236.4-4.9-1.7-0.9-6.2-0.98.1-8.1-3.4-6.15.60.9-12.1%
20222.03.7-0.1-8.2-2.6-11.62.9-3.7-9.42.513.4-5.0-17.3%
2021-1.74.70.12.94.3-3.2-0.60.9-5.32.9-5.74.13.0%
2020-5.2-8.9-27.916.73.97.04.83.0-1.51.211.17.74.3%
201911.3-0.7-1.02.5-6.47.1-4.3-4.9-0.81.71.25.39.9%
20185.2-2.20.1-1.7-3.3-3.61.0-6.4-3.9-5.91.4-1.9-19.6%
20177.4-1.6-0.11.31.90.26.63.7-2.80.94.63.528.2%
2016———12.2-6.91.53.9-2.92.4-1.0-5.44.77.5%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 21.1%. The dominant macroeconomic risk driver is VEA.US, accounting for 46.5% of variance. Idiosyncratic stock-specific factors contribute 10.7%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0111220.914850657939
2016-05-0110449.209775116618
2016-06-0110602.52036482629
2016-07-0111020.051521269928
2016-08-0110697.62584418297
2016-09-0110956.624660586229
2016-10-0110850.936433892643
2016-11-0110269.511940402423
2016-12-0110747.893894033281
2017-01-0111540.764464248416
2017-02-0111350.692752210543
2017-03-0111339.831511522665
2017-04-0111486.527884146766
2017-05-0111703.752697904338
2017-06-0111730.905799624034
2017-07-0112507.484508807354
2017-08-0112969.156861379935
2017-09-0112610.666295342198
2017-10-0112724.778945902666
2017-11-0113308.570632876143
2017-12-0113780.616862772402
2018-01-0114501.2184084105
2018-02-0114185.267701733625
2018-03-0114201.907679454152
2018-04-0113963.517371022768
2018-05-0113497.876488198846
2018-06-0113015.665250992135
2018-07-0113148.645826080903
2018-08-0112306.064192717398
2018-09-0111829.35319919237
2018-10-0111136.461741975912
2018-11-0111297.22202882406
2018-12-0111086.054445450116
2019-01-0112343.52154842303
2019-02-0112253.289702708347
2019-03-0112129.220914850657
2019-04-0112433.753394137715
2019-05-0111633.015386757641
2019-06-0112461.950845923555
2019-07-0111926.19926199262
2019-08-0111336.976954675209
2019-09-0111249.530042470235
2019-10-0111438.487781104224
2019-11-0111570.980992828796
2019-12-0112180.881431455824
2020-01-0111553.366288379864
2020-02-0110526.352433335654
2020-03-017590.12741070807
2020-04-018857.202534289494
2020-05-019205.458469679037
2020-06-019847.9426303697
2020-07-0110323.957390517302
2020-08-0110637.610527048666
2020-09-0110480.052913736687
2020-10-0110610.596672004456
2020-11-0111790.364130056394
2020-12-0112702.569101162711
2021-01-0112490.635661073593
2021-02-0113082.782148576203
2021-03-0113101.51082642902
2021-04-0113487.92035090162
2021-05-0114073.800738007383
2021-06-0113625.078326254963
2021-07-0113544.036761122326
2021-08-0113668.66253568196
2021-09-0112945.693796560608
2021-10-0113325.837220636358
2021-11-0112568.5441760078
2021-12-0113084.244238668804
2022-01-0113344.357028475946
2022-02-0113832.068509364339
2022-03-0113819.118568544178
2022-04-0112687.53046021026
2022-05-0112355.914502541253
2022-06-0110918.679941516397
2022-07-0111237.345958365244
2022-08-0110822.878228782289
2022-09-019800.181020678132
2022-10-0110042.400612685371
2022-11-0111386.966511174545
2022-12-0110819.188191881918
2023-01-0111516.32667270069
2023-02-0110947.155886653207
2023-03-0110757.78040799276
2023-04-0110659.402631762166
2023-05-019997.284689828031
2023-06-019902.94506718652
2023-07-0110701.176634407853
2023-08-019835.619299589222
2023-09-019505.535055350554
2023-10-018922.926965118708
2023-11-019424.771983568893
2023-12-019509.364338926409
2024-01-019206.154703056463
2024-02-019061.477407226903
2024-03-0110039.963795864374
2024-04-0110208.661143215206
2024-05-0110873.772888672283
2024-06-0110846.20204692613
2024-07-0111211.376453387176
2024-08-0111266.518136879482
2024-09-0111569.727772749426
2024-10-0111322.007937060504
2024-11-0111114.948130613382
2024-12-0110660.168488477337
2025-01-0111404.372345610247
2025-02-0111342.337951681406
2025-03-0111983.15115226624
2025-04-0112231.219104643875
2025-05-0113051.242776578709
2025-06-0113891.944579823157
2025-07-0114429.436747197662
2025-08-0115445.79823156722
2025-09-0116793.009816890622
2025-10-0116496.692891457216
2025-11-0117006.614217085567
2025-12-0118624.242846202047
2026-01-0119417.948896470098
2026-02-0121276.89201420316
2026-03-0117928.009468773933
2026-04-0119633.78124347281
Annual Return Matrix
YearAnnual Return
20170.28216904620008787
2018-0.19553278667818574
20190.09875713594885349
20200.042828400608159845
20210.030047082166327677
2022-0.1731132502168372
2023-0.12106489227521944
20240.12101798906159611
20250.7470870996394796
20260.0542056074766355
Total Factor Risk
0.21143018854704249
VTI.US Exposure
0.4163416390265003
VEA.US Exposure
0.4651529243397567
VWO.US Exposure
0.07177471880604969
QQQ.US Exposure
-0.0770951379507559
VTV.US Exposure
0.003971831225364198
IJR.US Exposure
-0.052837956704647866
QUAL.US Exposure
-0.1525110279332275
SHV.US Exposure
0.058492403138611176
TLT.US Exposure
-0.015070345414023498
LQD.US Exposure
0.035682812839837146
HYG.US Exposure
-0.04255545812894796
GLD.US Exposure
0.16244743341551532
USO.US Exposure
-0.003451218369970048
VNQ.US Exposure
-0.032023567776274874
BTC-USD.CC Exposure
0.0029539207828762144
CPER.US Exposure
0.02804718827137538
VIX.INDX Exposure
0.02234010019503095
UUP.US Exposure
-0.04099733675793899
TIP.US Exposure
0.04239289475960811
Idiosyncratic Exposure
0.10694418223526168
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
21.1%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+2.5%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+13.7%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
7.7% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.13
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is VanEck Africa Index ETF a high-risk investment?

VanEck Africa Index ETF (AFK.US) has an annualized volatility of 21.1% and experienced a maximum drawdown of 47.7% over the last 10 years. Its primary macro risk driver is VEA.US.

What is the 10-year return of AFK.US?

Over the past 10 years, AFK.US has generated a Compound Annual Growth Rate (CAGR) of 6.6%. It has had a positive return in 70% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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