iShares MSCI South Africa ETF (EZA)
| Assets | $502.95M |
| Expense Ratio | 0.59% |
| PE Ratio | 14.75 |
| Shares Out | 7.90M |
| Dividend (ttm) | $3.04 |
| Dividend Yield | 4.70% |
| Ex-Dividend Date | Jun 16, 2025 |
| Payout Frequency | Semi-Annual |
| Payout Ratio | 70.48% |
| Volume | 453,892 |
| Open | 66.39 |
| Previous Close | 65.23 |
| Day's Range | 64.50 - 66.39 |
| 52-Week Low | 39.74 |
| 52-Week High | 67.71 |
| Beta | 0.79 |
| Holdings | 34 |
| Inception Date | Feb 3, 2003 |
About EZA
Fund Home PageThe iShares MSCI South Africa ETF (EZA) is an exchange-traded fund that is based on the MSCI South Africa 25-50 index. The fund tracks the performance of a market-cap-weighted index of South African stocks. It captures 85% of the publicly available market, excluding all small-caps. EZA was launched on Feb 3, 2003 and is issued by BlackRock.
Top 10 Holdings
65.68% of assets| Name | Symbol | Weight |
|---|---|---|
| Naspers Limited | NPN | 16.03% |
| Gold Fields Limited | GFI | 8.99% |
| AngloGold Ashanti plc | AU | 8.80% |
| FirstRand Limited | FSR | 6.54% |
| VALTERRA PLATINUM LTD | AMS.JO | 5.23% |
| Standard Bank Group Limited | SBK | 5.21% |
| Capitec Bank Holdings Limited | CPI | 4.49% |
| MTN Group Limited | MTN | 4.08% |
| Impala Platinum Holdings Limited | IMP | 3.20% |
| Sanlam Limited | SLM | 3.11% |
Dividends
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jun 16, 2025 | $0.62572 | Jun 23, 2025 |
| Dec 17, 2024 | $2.41539 | Dec 20, 2024 |
| Jun 11, 2024 | $0.62656 | Jun 17, 2024 |
| Dec 20, 2023 | $0.50611 | Dec 27, 2023 |
| Jun 7, 2023 | $0.68074 | Jun 13, 2023 |
| Dec 13, 2022 | $0.65729 | Dec 19, 2022 |
Performance
EZA had a total return of 37.36% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.15%.
News
Country ETFs Looking For Record Years
Now in the home stretch of Q3, international stocks have had a banner year in 2025. Whereas the United States' S&P 500 is currently up 12.7% year to date, the MSCI All World Ex. US ETFs have gained we...
EZA: Should You Get Specific Exposure To South Africa?
I rate EZA a hold due to recent explosive growth; I recommend waiting for a 10% price drop before buying. EZA offers dynamic exposure to South Africa's finance and materials sectors, but is highly con...
EZA: Gold And Banks Keep Working
EZA has outperformed gold, global banks, and the S&P 500 since October 2023, driven by strong momentum and a bullish macro backdrop. The ETF offers a compelling valuation, with a P/E just above 10 and...
EZA: Pressure Likely To Persist
A continued rise in sovereign and country risks pose threats, especially given the emerging faultlines in the GNU and South Africa's tariff vulnerabilities. Foreign operators listed on the JSE might e...
EZA: Great Dividends But Low Growth
South Africa offers investment opportunities, but growth remains low; EZA ETF provides access with a 7.37% dividend yield and a low expense ratio of 0.59%. EZA is concentrated in Financials, Basic Mat...
EZA: A Low Valuation But High-Risk Investment
iShares MSCI South Africa ETF has high exposure to economically sensitive sectors, leading to potential volatility, especially during economic downturns. EZA's lack of technology sector exposure weake...
South Africa's Stock Rally May Have Legs
Continued little improvements in South Africa can go a long way. More privatization can boost growth.
China Outperforms The Rest Of The World
Shanghai CSI 300 has gone from a 52-week low to a 52-week high in only a couple of weeks. Other than China and Hong Kong, Australia is the only other international market starting the week at a 52-wee...
Market strengths here… and abroad
Market strengths here… and abroad.
Highest And Lowest Country ETF Dividend Yields
US equities have outperformed the rest of the world for a long time now. While the US is up 58% on a total return basis during the current bull market, the rest of the world is up 13.5 percentage poin...
EZA: Overreaction To GNU Government And Lower Inflation
The iShares MSCI South Africa ETF has surged over 15% in six months due to a favorable election result and a potential regional interest rate pivot. Despite improved investor sentiment, I'm cautiously...
The Investment Case For South Africa: EZA Is The Ultimate 'Buy Low' Opportunity
South Africa is perceived as corrupt and dangerous, but the country also has excellent demographics, strong geography, and a considerable existing capital base. SA's equity market is heavily discounte...
South African Stocks Show Life After an Election and Power-Grid Fixes
Still, there's a long way to go as the country tries to end corruption, dysfunction, and high unemployment with a coalition government. Bond yields are down and stocks are up.
EZA: Resource Rich And Under The Radar
iShares MSCI South Africa ETF (EZA) provides easy access to South African equities, tracking the MSCI South Africa 25/50 Index. The fund has a concentrated portfolio, with top holdings in companies li...
EZA ETF: South Africa's Election Looms
The iShares MSCI South Africa ETF faces a complex outlook, with various systemic and asset-specific variables playing a role. South Africa's upcoming national election could lead to a coalition govern...
EZA: Plentiful Risks In Africa's Powerhouse
The iShares MSCI South Africa ETF is the largest ETF focused on exposure to Africa, with $300 million in assets under management. EZA offers a compelling value play, with holdings trading at just 1.5 ...
EZA: Concerns Around The Rand
The JSE and South African markets feature some interesting picks, with Naspers being an example of a company that has a marquis portfolio. However, particularly in the financial exposures, there are r...
EZA: A Systematic Review
South Africa's central bank policy seems indeterminate as voting members are in a standoff. Bond market volatility and an uncertain policy rate environment could impact the iShares MSCI South Africa E...
The Rugby World Cup starts this week. But who would be the investment winners?
The Rugby Union World Cup starts in France on September 8. Prepare for several weeks of sweaty scrums, rambunctious rucks and muscular mauls.
Weighing South Africa's Pluses, Minuses
South Africa's structural issues are well documented and will have a long-term impact on the economic growth potential of the country. Recent market movement of South African assets suggests a bit of ...
Emerging Markets (EEM) Attempts A Break-Out
Both last year and again this year, emerging market equities have seen modest outperformance relative to developed markets. That has also been the case in July with an average gain of 5.24% for EM cou...
EZA: A Much Improved Outlook (Rating Upgrade)
Although economic trend growth remains of concern, key indicators suggest that South Africa's cyclical outlook has improved, providing the iShares MSCI South Africa ETF with latitude to perform. A cur...
EZA: Avoid The ETF And Focus On Stock Picking
Governmental issues in South Africa have put a heavy toll on the economy, the biggest of which is load shedding. The long-term outlook for the economy seems mixed. In the short term, the yield curve l...
EZA ETF: More Pain Ahead, Unfortunately
The iShares MSCI South Africa ETF is at risk of losing more value as qualitative and quantitative risk premiums exacerbate. The EZA ETF's sector allocation is overly exposed to telecommunication compa...
EZA: South African Stocks Offer High Returns But Remain Risky (Rating Upgrade)
EZA invests in South African stocks. The fund seems to offer a very compelling return profile, even adjusted for historical realized volatility.
Load Shedding Program Weakens Business Capacity And Outlook In South Africa In April
South African companies struggled with multiple headwinds at the start of the second quarter, load shedding in particular. A renewed rise in new business thus largely translated into a pile-up in back...
GDP Growth In Sub-Saharan Africa Likely To Slow In 2023
Inflation is expected to remain elevated longer in Sub-Saharan Africa than in other regions. The surge in global commodities prices in 2021 gave room to Sub-Saharan Africa countries to adopt fiscal co...
EZA: Beware Of South Africa's Greylisting And Eskom Crisis
South Africa's regional risks continue to rise, with a greylisting adding to the nation's woes. Although systemic risks are rife, lucrative regional opportunities exist. However, BlackRock's iShares M...
EZA: Caution Is Warranted
The iShares MSCI South Africa ETF has compounded at an impressive rate since inception, reflecting the underlying growth potential of the region. Yet, the ETF could underperform near-term amid uncerta...
Blended Solutions For Better Emerging Market Development
The COP27 presented a number of challenges that nations will face in the coming years. At present, “pure” green activities represent a very small portion of global GDP and an even smaller portion of e...
EZA: Excess Regional Risk And Terrible Allocation
Anecdotally, the ETF's investment thesis lacks novelty and "boots on the ground" research. South Africa's systemic risk premium is at a multi-decade high amid skyrocketing reinsurance rates triggered ...
Peak Inflation May Hint At Peak Rates In Emerging Markets
Central banks across emerging markets have reacted to elevated inflation by significantly tightening monetary policy, in some cases, well ahead of the U.S. Federal Reserve and the European Central Ban...
South Africa: From Apocalypse To Fantasia
Economy headed for recession as brief commodity boost fades. Worsening energy crisis amplifies economic woes.
Will U.S.-China Competition Shape Kenya's Trade Trajectory?
Kenya's much anticipated presidential election recently concluded with the Supreme Court confirming President William Ruto's victory. A cursory look at Kenya's international trade reveals some strikin...
EZA: Keep An Eye On Global Macro
With the MSCI South Africa 25/50 Index lying at the crux of it, EZA oversees a portfolio of around $332 million disproportionately spread between 37 equity holdings. EZA has seen strong momentum earli...
Sub-Saharan Africa Feels Inflationary Heat From Russia-Ukraine War
Rising input costs and weaker exchange rates of local currencies are primarily responsible for the rapid price increases in recent months. The spike in global oil prices has increased the demand for r...
iShares MSCI South Africa ETF: A High-Beta Play
EZA has outperformed other pockets of global equities this year. EZA's valuations are still cheap, but its high-beta qualities make it something of a risky bet in the current environment.
Tide Of Rising Prices Stems Economic Recovery In Sub-Saharan Africa
The S&P Global Sub-Saharan Africa PMI posted at 52.3 in March, remaining above the 50.0 neutral mark.
EZA: South Africa Has A Bleak Economic Outlook
EZA provides exposure to a basket of South African mid and large caps.
Restoring the Rally in South Africa's Stocks Will Take Time
Riots in South Africa and rising cases of Covid have shaken investor confidence. It may not be the right time to buy the market dip.
South Africa's Endgame - Longer And More Painful Now?
High commodity prices, benign global liquidity, and depressed imports result in large current account surplus. The large current account surplus will support the currency at current levels over the ne...
South Africa's Beaten-Down Stocks Deserve a Second Look
South Africa beat back a Covid spike earlier this year, state finances remain tight, and stocks are poised for a post-pandemic recovery.
EZA: South African Equities Look Expensive
EZA gives U.S. investors the chance to invest directly in South African equities through a U.S.-listed, USD-denominated ETF. Unfortunately, South African equities look expensive. While the USD/ZAR exc...