ATLASiShares MSCI South Africa ETF (EZA): outlook, holdings and fees
iShares MSCI South Africa ETF (EZA) is an exchange-traded fund and is managed by iShares. The expense ratio is 0.59% and the yield is 8.20%. The ten largest holdings are 63% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on EZA
| Last price | $63.22 (+2.3%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 52% |
| Likely 1-month range (50%) | $60.56 – $66.37 |
| Normal 1-day range (±1σ) | ±1.6% |
| Distribution yield | 8.20% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
EZA fund facts
| Issuer | iShares |
|---|---|
| Theme | Other strategies |
| Assets under management | $466M |
| Expense ratio | 0.59% |
| Number of holdings | 27 |
| Portfolio turnover | 5% |
| Inception | Feb 3, 2003 |
| Exchange | NYSE |
The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The underlying index is designed to measure the performance of the large- and mid-capitalization segments of the equity market in South Africa. The underlying index uses a capping methodology that limits the weight of any single "group entity" to a maximum of 25% of the underlying index weight. The fund is non-diversified.
EZA top holdings
| Holding | Sector | Weight |
|---|---|---|
| AngloGold Ashanti Ltd ANG | Basic Materials | 13.00% |
| Gold Fields Ltd GFI | Basic Materials | 8.88% |
| Naspers Limited NPN | Consumer Cyclical | 8.83% |
| Firstrand Ltd FSR | Financial Services | 6.96% |
| Standard Bank Group Ltd SBK | Financial Services | 5.89% |
| MTN Group Ltd MTN | Communication Services | 4.63% |
| Capitec Bank Holdings Ltd CPI | Financial Services | 4.40% |
| Valterra Platinum Limited VAL | Basic Materials | 4.11% |
| Absa Group Ltd ABG | Financial Services | 3.36% |
| Impala Platinum Holdings Ltd IMP | Basic Materials | 3.04% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
EZA sector breakdown
| Sector | Weight |
|---|---|
| Basic Materials | 37.6% |
| Financial Services | 34.8% |
| Consumer Cyclicals | 13.1% |
| Communication Services | 6.8% |
| Consumer Defensive | 3.0% |
| Real Estate | 1.9% |
| Industrials | 1.6% |
| Healthcare | 1.2% |
By region: Africa/Middle East 84.1%, North America 12.8%, Europe Emerging 1.8%, Europe Developed 1.3%.
EZA returns and risk
| Year to date | -5.5% |
|---|---|
| 1 year | +8.7% |
| 3 years (annualised) | +25.7% |
| 5 years (annualised) | +11.2% |
| 10 years (annualised) | +7.2% |
| Volatility (3 years) | 23.1% |
| Sharpe ratio (3 years) | 0.98 |
Past returns do not guarantee future results.
EZA: frequently asked questions
What does EZA invest in?
iShares MSCI South Africa ETF invests in a portfolio of securities. Its largest holdings are AngloGold Ashanti Ltd (13.0%), Gold Fields Ltd (8.9%), Naspers Limited (8.8%), Firstrand Ltd (7.0%), Standard Bank Group Ltd (5.9%).
What is the EZA expense ratio?
0.59% a year: about $59.00 for every $10,000 invested.
What is the EZA dividend yield?
8.20%. ATLAS does not hold the exact distribution dates for ETFs.
Will EZA go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 52%, with a likely range (50%) of $60.56 to $66.37 from $63.22 today. It is a probability, not a prediction.
How has EZA performed?
Year to date -5.5%, one year +8.7%, three years +25.7% a year, five years +11.2% a year. Past returns do not guarantee future results.
Similar ETFs: Other strategies
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- iShares Russell 3000 ETF (IWV)
- Vanguard Mortgage-Backed Securities ETF (VMBS)
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- iShares Preferred and Income Securities ETF (PFF)
Educational information, not investment advice. Disclaimer