iShares MSCI South Africa ETF

10-Year Study

EZA.US · · US · ETF

Executive Summary: iShares MSCI South Africa ETF has compounded at 9.0% annually over the last 10 years, with a maximum drawdown of 53.9% and an annualized volatility of 26.8%.

1Y CAGR
+52.9%
3Y CAGR
+32.8%
5Y CAGR
+11.3%
10Y CAGR
+9.0%

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 →
53.9%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.29
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.41
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
25.5%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · +75.2%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · -25.2%
% 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.
20266.411.5-16.96.5————————5.0%
20254.41.58.42.95.44.2-1.38.711.1-0.54.78.775.2%
2024-6.1-5.35.42.41.28.45.13.27.3-2.1-3.9-7.17.2%
20236.5-9.33.01.7-13.89.312.1-12.3-3.8-0.68.24.61.5%
20229.33.85.5-13.70.9-10.3-0.1-6.1-9.55.417.0-3.1-5.2%
20210.25.36.8-0.17.6-7.1-0.92.1-4.80.0-4.64.47.9%
2020-9.0-9.8-29.510.47.16.96.5-1.0-0.60.310.911.2-5.2%
201914.2-6.8-2.58.2-6.66.1-5.5-7.4-0.94.5-0.19.19.8%
20183.1-1.1-3.7-4.2-5.5-6.16.3-10.3-2.2-10.09.5-2.4-25.2%
20174.80.20.46.01.7-3.96.03.9-6.02.06.910.436.0%
2016———5.1-9.88.59.2-9.16.7-1.4-8.14.12.9%

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 26.8%. The dominant macroeconomic risk driver is VWO.US, accounting for 33.3% of variance. Idiosyncratic stock-specific factors contribute 15.8%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0110507.4386240167
2016-05-019481.226624004348
2016-06-0110283.862957598145
2016-07-0111232.708326255548
2016-08-0110213.846928343984
2016-09-0110902.17831078222
2016-10-0110752.448399082099
2016-11-019885.26266048557
2016-12-0110290.19435856731
2017-01-0110781.541958657495
2017-02-0110807.0837567136
2017-03-0110846.369327605214
2017-04-0111492.9752334125
2017-05-0111687.519110021216
2017-06-0111237.341058672011
2017-07-0111916.870249518966
2017-08-0112386.413122368993
2017-09-0111639.524002186647
2017-10-0111869.338414926046
2017-11-0112683.618349326553
2017-12-0113997.368607987448
2018-01-0114427.347946000868
2018-02-0114271.348403097136
2018-03-0113739.38718215595
2018-04-0113167.399153136514
2018-05-0112445.434133354745
2018-06-0111684.55416127468
2018-07-0112421.43657943746
2018-08-0111138.478548904666
2018-09-0110890.843558803272
2018-10-019798.692334063246
2018-11-0110726.412442901572
2018-12-0110464.32332766081
2019-01-0111947.384513702078
2019-02-0111136.378376875868
2019-03-0110854.275857595982
2019-04-0111744.100215267632
2019-05-0110964.195155397287
2019-06-0111627.75686184883
2019-07-0110991.806240599411
2019-08-0110183.579743223087
2019-09-0110092.129605322081
2019-10-0110549.411179709867
2019-11-0110538.786780034774
2019-12-0111492.913463646948
2020-01-0110464.29244277803
2020-02-019438.018673000126
2020-03-016649.7314559442575
2020-04-017340.935132480704
2020-05-017865.792830383311
2020-06-018405.50615690138
2020-07-018951.736193685278
2020-08-018865.845334684032
2020-09-018808.615646899312
2020-10-018834.836912376499
2020-11-019800.854275857595
2020-12-0110896.495492351356
2021-01-0110918.85614748149
2021-02-0111495.47690891739
2021-03-0112273.4671060556
2021-04-0112261.020498296697
2021-05-0113195.566166228617
2021-06-0112257.12900306687
2021-07-0112144.244756519025
2021-08-0112397.624334816835
2021-09-0111798.05610547805
2021-10-0111798.05610547805
2021-11-0111261.215073058189
2021-12-0111758.523455524224
2022-01-0112855.801570805137
2022-02-0113344.89457445264
2022-03-0114072.20267895473
2022-04-0112148.78483428716
2022-05-0112257.746700722397
2022-06-0110999.249497348534
2022-07-0110988.872176735653
2022-08-0110313.234481118525
2022-09-019329.550964689313
2022-10-019834.333488787242
2022-11-0111506.626351599683
2022-12-0111149.68976135251
2023-01-0111875.299197301896
2023-02-0110773.728083315058
2023-03-0111099.748905903029
2023-04-0111291.667567475744
2023-05-019737.910884759236
2023-06-0110642.189367570254
2023-07-0111931.664108368876
2023-08-0110462.964392818645
2023-09-0110064.333210823297
2023-10-0110002.810524332655
2023-11-0110818.75824240309
2023-12-0111317.857948070156
2024-01-0110621.836229820588
2024-02-0110061.213837662879
2024-03-0110608.277766281737
2024-04-0110865.579724692154
2024-05-0110992.856326613814
2024-06-0111918.04387506447
2024-07-0112520.577053149793
2024-08-0112919.486199090128
2024-09-0113865.891662008196
2024-10-0113579.774107967372
2024-11-0113054.298712409236
2024-12-0112128.246387240835
2025-01-0112660.73265118922
2025-02-0112848.821587297665
2025-03-0113928.248240333802
2025-04-0114330.492953613993
2025-05-0115108.946423993848
2025-06-0115739.46130587461
2025-07-0115534.478338887462
2025-08-0116887.359744026093
2025-09-0118770.22573760821
2025-10-0118673.58693940077
2025-11-0119543.305238384968
2025-12-0121248.799350182064
2026-01-0122607.73419234487
2026-02-0125202.064345564773
2026-03-0120939.95052241779
2026-04-0122308.150829413527
Annual Return Matrix
YearAnnual Return
20170.3602628016771765
2018-0.25240781887465213
20190.09829494978115028
2020-0.05189441068899636
20210.0791105694283043
2022-0.05177807370751808
20230.015082768248902978
20240.07160263389848076
20250.7520092082344434
20260.049854651162790864
Total Factor Risk
0.2675035984732854
VTI.US Exposure
-0.12673927325665166
VEA.US Exposure
0.016279668616841263
VWO.US Exposure
0.3329318818184111
QQQ.US Exposure
0.015144491057946371
VTV.US Exposure
0.18792940092723992
IJR.US Exposure
-0.016513690688223333
QUAL.US Exposure
0.00499309361775342
SHV.US Exposure
0.07848250300004768
TLT.US Exposure
0.05754911757536341
LQD.US Exposure
-0.07504588895935893
HYG.US Exposure
0.035646173481805314
GLD.US Exposure
0.18250921201634154
USO.US Exposure
-0.0018114855545150678
VNQ.US Exposure
-0.031933427821565816
BTC-USD.CC Exposure
-0.00407585456363786
CPER.US Exposure
-0.018290931170246903
VIX.INDX Exposure
0.11390815088087446
UUP.US Exposure
0.0393406425546731
TIP.US Exposure
0.05185987309165402
Idiosyncratic Exposure
0.15783634337524804
Value Score
46.6
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
62.5
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
26.8%

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 →8.5x
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →5.21%
Market Cap$18.7B
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 →
+0.6%
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 →
+13.3%
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 →
11.5% 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 →
1.37
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is iShares MSCI South Africa ETF a high-risk investment?

iShares MSCI South Africa ETF (EZA.US) has an annualized volatility of 26.8% and experienced a maximum drawdown of 53.9% over the last 10 years. Its primary macro risk driver is VWO.US.

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

Over the past 10 years, EZA.US has generated a Compound Annual Growth Rate (CAGR) of 9.0%. 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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