EZA
iShares MSCI South Africa ETF
#3 of 10 in Emerging Markets by own-history percentile (high → low)
Relative to SPY
Relative price history
EZA ÷ SPY, 10-year range, as of Sep 18, 2026
How the reading moved
These changes re-score an older EZA÷SPY ratio against today's 10-year window, so they show whether the relative price has drifted toward the highs or lows of its own history — not a peer ranking and not a return forecast.
- About one week: +16.1 pts (from 18% on Aug 31, 2026 to 34.1% now)
- About one month: +22.8 pts (from 11.3% on Jul 31, 2026 to 34.1% now)
Emerging Markets
Where this sits among peers
Emerging Markets · EZA highlighted · same axes as the category chart on the home page
Top holdings
Holdings snapshot as of Jul 17, 2026.
What moves this
EZA blends heavy mining and materials exposure with a smaller financials complement, so its relative valuation is pulled in two directions at once by global commodity cycles on one hand and domestic political and currency (rand) risk on the other.
FAQ
What drives this fund more — commodities or domestic politics?
Both matter: global commodity-price cycles drive the mining-heavy portion of the index, while domestic political and currency developments affect the financials and broader economy — the two don't always move together.
Why is the South African rand described as a risk factor here?
The rand has a history of significant volatility tied to both global risk sentiment and domestic political developments, adding a currency layer on top of the underlying equity market's moves for this dollar-denominated fund.
Is this fund similar to Australia's given both are commodity-heavy?
There's a structural similarity in commodity exposure, but South Africa carries meaningfully higher currency and political-risk volatility than Australia has historically shown.
Emerging Markets