iShares MSCI South Africa ETF
ALTAR
Score™		 9.0% info Recommen-
dation		 OVERWEIGHT
2025E    2026E
P/E
ratio		 12.7x P/Sales
ratio		 1.7x
P/BV
ratio		 2.3x Div.
yield		 3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
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.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Barclays Global Fund Advisors
Website www.ishares.com
Inception date Feb 03, 2003
Assets (mns) $663
Currency USD
Expense ratio 58 bp
Distributions Semi-annual

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 27
Wgt avg mkt cap (mns) $14,835
Large cap (>$10bn) 47.2%
Mid cap ($2-10bn) 52.8%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
ANGLOGOLD ASHANTI PLC 11.9 %
NASPERS LIMITED LTD CLASS N 10.8 %
GOLD FIELDS LTD 8.4 %
FIRSTRAND LTD 7.0 %
STANDARD BANK GROUP LTD 6.2 %
MTN GROUP LIMITED 4.6 %
CAPITEC BANK HOLDINGS LTD 4.5 %
ANGLO PLATINUM LTD 4.0 %
ABSA GROUP LTD 3.5 %
IMPALA PLATINUM HOLDINGS LTD 3.2 %
Total 64.1 %

TOP COUNTRY EXPOSURE
SOUTH AFRICA 70.6 %
LUXEMBOURG 1.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.9% 41.9% 10.2% 8.5% 9.5%

Market Correlations
versus... Beta R-squared
S&P500 1.56 35%
MSCI EAFE 1.54 56%
MSCI Emg. Mkts. 1.23 61%

Technical Indicators
Recent close $66.28
30d moving avg. $68.78
Annualized volatility 24.7%
Short interest (ETF) 16.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 209
Turnover 2.1%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $286

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 128 potential alternatives to the iShares MSCI South Africa ETF ETF based on the alternatives' overlap in portfolio holdings with EZA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EZA Expense: 58 bp ALTAR Score™: 9.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EZA
Ticker Fund
Name		 Overlap1
vs EZA
(%)		 Expense
ratio
(bp)		 Savings
vs EZA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs EZA
(%)
FTHF First Trust Emerging Markets Human Flourishing ETF 15.5 75 -17 5.3 -3.7
JIVE JPMorgan International Value ETF 12.4 55 3 8.2 -0.9
OBOR KraneShares MSCI One Belt One Road Index ETF 9.0 79 -21 7.4 -1.6
XC WisdomTree Emerging Markets Ex-China Fund 8.5 32 26 6.5 -2.6
EMDM First Trust Bloomberg Emerging Market Democracies ETF 8.2 75 -17 6.0 -3.0
EDIV SPDR S&P Emerging Markets Dividend ETF 6.8 49 9 8.8 -0.2
RING iShares MSCI Global Gold Miners ETF 5.9 39 19 3.8 -5.2
EELV Invesco S&P Emerging Markets Low Volatility ETF 5.8 29 29 8.7 -0.3
GMET VanEck Green Metals ETF 5.4 63 -5 0.7 -8.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 5.3 70 -12 9.4 +0.4
ION ProShares S&P Global Core Battery Metals ETF 4.9 58 0 5.6 -3.4
LDEM iShares ESG MSCI EM Leaders ETF 4.9 17 41 12.3 +3.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 4.7 39 19 13.5 +4.5
PXH Invesco FTSE RAFI Emerging Markets ETF 3.9 49 9 13.2 +4.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 3.8 44 14 9.4 +0.4
ECON Columbia Emerging Markets Consumer ETF 3.5 49 9 6.2 -2.8
VEXC Vanguard Emerging Markets Ex-China ETF 3.5 7 51 5.6 -3.4
EYLD Cambria Emerging Shareholder Yield ETF 3.5 66 -8 8.8 -0.3
JHEM John Hancock Multifactor Emerging Markets ETF 3.4 49 9 7.2 -1.8
DWX SPDR S&P International Dividend ETF 3.4 45 13 6.6 -2.4
FRDM Freedom 100 Emerging Markets ETF 3.3 49 9 5.0 -4.0
XCEM Columbia EM Core ex-China ETF 3.3 16 42 4.7 -4.4
EMMF WisdomTree Emerging Markets Multifactor Fund 3.1 48 10 8.2 -0.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 3.1 50 8 7.9 -1.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 3.0 35 23 9.8 +0.8
CGV Conductor Global Equity Value ETF 3.0 130 -72 7.5 -1.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.0 32 26 7.1 -1.9
JADE JPMorgan Active Developing Markets Equity ETF 2.9 65 -7 5.8 -3.2
XCNY SPDR S&P Emerging Markets ex-China ETF 2.9 15 43 5.6 -3.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 2.9 24 34 5.0 -4.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.9 45 13 7.7 -1.3
MEM Matthews Emerging Markets Equity Active ETF 2.8 79 -21 8.1 -0.9
EMM Global X Emerging Markets ex-China ETF 2.8 75 -17 4.5 -4.5
STXE Strive Emerging Markets Ex-China ETF 2.8 32 26 4.9 -4.1
EMXC iShares MSCI Emerging Markets ex China ETF 2.7 25 33 4.8 -4.2
EEMO Invesco S&P Emerging Markets Momentum ETF 2.7 29 29 6.0 -3.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 2.6 32 26 4.6 -4.4
ESGE iShares ESG Aware MSCI EM ETF 2.5 25 33 7.9 -1.1
PICK iShares MSCI Global Metals & Mining Producers ETF 2.5 39 19 7.7 -1.3
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.5 33 25 5.8 -3.2
SCHE Schwab Emerging Markets Equity ETF 2.4 11 47 9.3 +0.3
DSTX Distillate International Fundamental Stability & Value ETF 2.3 55 3 6.6 -2.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 2.3 88 -30 7.5 -1.5
RNEM First Trust Emerging Markets Equity Select ETF 2.3 75 -17 8.0 -1.0
VWO Vanguard FTSE Emerging Markets ETF 2.3 7 51 9.0 +0.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.3 66 -8 6.9 -2.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 2.3 30 28 7.6 -1.4
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.2 70 -12 3.7 -5.3
DEM WisdomTree Emerging Markets High Dividend Fund 2.2 63 -5 10.0 +1.0
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 2.2 30 28 7.4 -1.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 2.2 36 22 7.3 -1.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.2 60 -2 6.5 -2.5
BKEM BNY Mellon Emerging Markets Equity ETF 2.2 11 47 7.6 -1.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 2.2 15 43 8.8 -0.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 2.2 15 43 7.7 -1.4
EEM iShares MSCI Emerging Markets ETF 2.1 69 -11 7.5 -1.6
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 2.1 69 -11 7.1 -1.9
SPEM SPDR Portfolio Emerging Markets ETF 2.1 7 51 9.3 +0.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 2.1 33 25 6.4 -2.6
SDEM Global X MSCI SuperDividend Emerging Markets ETF 2.0 67 -9 12.6 +3.5
ARKF ARK Fintech Innovation ETF 1.9 75 -17 0.3 -8.7
NUEM Nuveen ESG Emerging Markets Equity ETF 1.9 36 22 5.9 -3.2
IEMG iShares Core MSCI Emerging Markets ETF 1.8 9 49 7.9 -1.2
EMC Global X Emerging Markets Great Consumer ETF 1.8 75 -17 6.8 -2.2
AVES Avantis Emerging Markets Value ETF 1.8 36 22 8.7 -0.4
DFAE Dimensional Emerging Core Equity Market ETF 1.8 35 23 6.7 -2.3
EMXF iShares ESG Advanced MSCI EM ETF 1.8 16 42 6.4 -2.6
AVSE Avantis Responsible Emerging Markets Equity ETF 1.8 33 25 6.4 -2.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 1.8 53 5 4.8 -4.2
DEHP Dimensional Emerging Markets High Profitability ETF 1.6 41 17 4.5 -4.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.6 59 -1 8.1 -0.9
AVEM Avantis Emerging Markets Equity ETF 1.6 33 25 6.7 -2.3
DFEV Dimensional Emerging Markets Value ETF 1.5 43 15 9.0 -0.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.5 38 20 6.7 -2.3
FEM First Trust Emerging Markets AlphaDEX Fund 1.5 80 -22 8.7 -0.3
WWJD Inspire International ETF 1.5 80 -22 6.3 -2.8
RCGE RockCreek Global Equality ETF 1.5 95 -37 6.0 -3.0
URA Global X Uranium ETF 1.4 69 -11 0.9 -8.1
FPXI First Trust International Equity Opportunities ETF 1.3 70 -12 3.5 -5.5
TTAI FCF International Quality ETF 1.3 59 -1 6.8 -2.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.3 90 -32 3.6 -5.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.2 41 17 6.6 -2.4
SCHY Schwab International Dividend Equity ETF 1.2 14 44 8.3 -0.7
EMGF iShares Emerging Markets Equity Factor ETF 1.2 25 33 8.5 -0.6
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.2 46 12 7.8 -1.2
IGRO iShares International Dividend Growth ETF 1.2 15 43 6.7 -2.4
SLVP iShares MSCI Global Silver Miners ETF 1.1 39 19 4.5 -4.5
FRGN Horizon International Equity ETF 1.1 75 -17 7.6 -1.5
NXTG First Trust Indxx NextG ETF 0.9 70 -12 3.4 -5.7
VIDI Vident International Equity Strategy ETF 0.9 61 -3 7.9 -1.1
VYMI Vanguard International High Dividend Yield ETF 0.9 17 41 7.9 -1.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.8 42 16 3.9 -5.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.8 41 17 5.9 -3.2
FDEM Fidelity Emerging Markets Multifactor ETF 0.8 25 33 9.9 +0.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.8 18 40 6.4 -2.6
BLES Inspire Global Hope ETF 0.7 61 -3 5.7 -3.3
ROAM Hartford Multifactor Emerging Markets ETF 0.7 44 14 7.3 -1.7
CWI SPDR MSCI ACWI ex-US ETF 0.7 30 28 6.3 -2.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.7 34 24 6.2 -2.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.7 45 13 9.5 +0.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.7 4 54 6.6 -2.5
VSGX Vanguard ESG International Stock ETF 0.7 10 48 6.4 -2.6
VXUS Vanguard Total International Stock ETF 0.6 5 53 6.5 -2.5
IXUS iShares Core MSCI Total International Stock ETF 0.6 7 51 6.4 -2.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 28 6.2 -2.8
CCNR ALPS CoreCommodity Natural Resources ETF 0.5 39 19 8.1 -0.9
HAP VanEck Natural Resources ETF 0.5 50 8 6.8 -2.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 49 4.8 -4.2
UMMA Wahed Dow Jones Islamic World ETF 0.3 65 -7 3.3 -5.7
AQLT iShares MSCI Global Quality Factor ETF 0.3 18 40 0.0 -9.0
ACWI iShares MSCI ACWI ETF 0.3 32 26 4.6 -4.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.2 25 33 5.9 -3.1
VT Vanguard Total World Stock ETF 0.2 6 52 5.0 -4.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.2 47 11 7.0 -2.0
JSTC Adasina Social Justice All Cap Global ETF 0.2 89 -31 4.2 -4.8
KLMT Invesco MSCI Global Climate 500 ETF 0.2 10 48 5.0 -4.0
GLOF iShares Global Equity Factor ETF 0.2 20 38 5.5 -3.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.1 20 38 4.7 -4.3
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 46 4.4 -4.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.1 45 13 6.6 -2.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.1 95 -37 9.7 +0.7
DEW WisdomTree Global High Dividend Fund 0.1 58 0 7.1 -1.9
AVSD Avantis Responsible International Equity ETF 0.0 23 35 5.9 -3.1
AVDE Avantis International Equity ETF 0.0 23 35 6.2 -2.8
DFIV Dimensional International Value ETF 0.0 27 31 7.7 -1.3
DFAI Dimensional International Core Equity Market ETF 0.0 18 40 5.9 -3.1
DFIC Dimensional International Core Equity 2 ETF 0.0 23 35 6.1 -2.9
DIHP Dimensional International High Profitability ETF 0.0 29 29 5.6 -3.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares MSCI South Africa ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.5 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 9.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.63 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.