iShares MSCI South Africa ETF (EZA): Historical Returns

Data Source: from January 2004 to February 2024 (~20 years)
Consolidated Returns as of 29 February 2024
Category: Stocks
iShares MSCI South Africa ETF (EZA) ETF
ETF • LIVE PERFORMANCE (USD currency)
5.28%
February 2024

In the last 20 Years, the iShares MSCI South Africa ETF (EZA) ETF obtained a 4.75% compound annual return, with a 26.81% standard deviation.

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The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: North America
  • Country: U.S.

Investment Returns as of Feb 29, 2024

The iShares MSCI South Africa ETF (EZA) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
ISHARES MSCI SOUTH AFRICA ETF (EZA) ETF
Consolidated returns as of 29 February 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Feb 29, 2024
  1 Day Time ET(*) Mar 2024 1M 6M 1Y 5Y 10Y 20Y MAX
(~20Y)
iShares MSCI South Africa ETF (EZA) ETF n.a. n.a. -5.28 -3.83 -6.62 -2.04 -1.06 4.75 4.94
US Inflation Adjusted return -5.28 -4.91 -9.09 -5.90 -3.73 2.13 2.30
Returns over 1 year are annualized | Available data source: since Jan 2004
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Jan 2024. Pending updates, the monthly inflation is set at 0% for the subsequent periods. Current inflation (annualized) is 1Y: 2.71% , 5Y: 4.10% , 10Y: 2.77% , 20Y: 2.56%

In 2023, the iShares MSCI South Africa ETF (EZA) ETF granted a 2.82% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI South Africa ETF (EZA) ETF: Dividend Yield page.

Capital Growth as of Feb 29, 2024

An investment of 1$, since March 2004, now would be worth 2.53$, with a total return of 152.86% (4.75% annualized).

The Inflation Adjusted Capital now would be 1.52$, with a net total return of 52.44% (2.13% annualized).
An investment of 1$, since January 2004, now would be worth 2.64$, with a total return of 164.23% (4.94% annualized).

The Inflation Adjusted Capital now would be 1.58$, with a net total return of 58.27% (2.30% annualized).

Investment Metrics as of Feb 29, 2024

Metrics of iShares MSCI South Africa ETF (EZA) ETF, updated as of 29 February 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
ISHARES MSCI SOUTH AFRICA ETF (EZA) ETF
Advanced Metrics
Data Source: 1 January 2004 - 29 February 2024 (~20 years)
Swipe left to see all data
Metrics as of Feb 29, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~20Y)
Investment Return (%) -5.28 -6.99 -3.83 -6.62 -4.33 -2.04 -1.06 4.75 4.94
Infl. Adjusted Return (%) details -5.28 -7.49 -4.91 -9.09 -9.33 -5.90 -3.73 2.13 2.30
US Inflation (%) 0.00 0.54 1.14 2.71 5.52 4.10 2.77 2.56 2.57
Pending updates, the monthly inflation after Jan 2024 is set at 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y MAX
Deepest Drawdown Depth (%) -16.17 -33.64 -43.48 -53.99 -57.08 -57.08
Start to Recovery (# months) details 7* 23* 23 73* 38 38
Start (yyyy mm) 2023 08 2022 04 2019 05 2018 02 2007 11 2007 11
Start to Bottom (# months) 3 6 11 26 16 16
Bottom (yyyy mm) 2023 10 2022 09 2020 03 2020 03 2009 02 2009 02
Bottom to End (# months) 4 17 12 47 22 22
End (yyyy mm) - - 2021 03 - 2010 12 2010 12
Longest Drawdown Depth (%)
same as
deepest

same as
deepest
-33.64
same as
deepest
-53.99 -53.99
Start to Recovery (# months) details 23* 73* 73*
Start (yyyy mm) 2023 08 2022 04 2022 04 2018 02 2018 02 2018 02
Start to Bottom (# months) 3 6 6 26 26 26
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2020 03 2020 03 2020 03
Bottom to End (# months) 4 17 17 47 47 47
End (yyyy mm) - - - - - -
Longest negative period (# months) details 12* 36* 60* 120* 196* 196*
Period Start (yyyy mm) 2023 03 2021 03 2019 03 2014 03 2007 11 2007 11
Period End (yyyy mm) 2024 02 2024 02 2024 02 2024 02 2024 02 2024 02
Annualized Return (%) -6.62 -4.33 -2.04 -1.06 -0.53 -0.53
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -17.04 -35.89 -44.12 -55.64 -57.79 -57.79
Start to Recovery (# months) details 7* 33* 23 73* 38 38
Start (yyyy mm) 2023 08 2021 06 2019 05 2018 02 2007 11 2007 11
Start to Bottom (# months) 7 16 11 26 16 16
Bottom (yyyy mm) 2024 02 2022 09 2020 03 2020 03 2009 02 2009 02
Bottom to End (# months) 0 17 12 47 22 22
End (yyyy mm) - - 2021 03 - 2010 12 2010 12
Longest Drawdown Depth (%)
same as
deepest

same as
deepest
-35.89
same as
deepest
-36.91 -36.91
Start to Recovery (# months) details 33* 80 80
Start (yyyy mm) 2023 08 2021 06 2021 06 2018 02 2011 05 2011 05
Start to Bottom (# months) 7 16 16 26 58 58
Bottom (yyyy mm) 2024 02 2022 09 2022 09 2020 03 2016 02 2016 02
Bottom to End (# months) 0 17 17 47 22 22
End (yyyy mm) - - - - 2017 12 2017 12
Longest negative period (# months) details 12* 36* 60* 120* 218* 218*
Period Start (yyyy mm) 2023 03 2021 03 2019 03 2014 03 2006 01 2006 01
Period End (yyyy mm) 2024 02 2024 02 2024 02 2024 02 2024 02 2024 02
Annualized Return (%) -9.09 -9.33 -5.90 -3.73 -0.37 -0.37
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y MAX
Standard Deviation (%) 27.45 25.73 27.90 25.28 26.81 26.72
Sharpe Ratio -0.43 -0.26 -0.14 -0.09 0.13 0.04
Sortino Ratio -0.59 -0.36 -0.18 -0.12 0.17 0.05
Ulcer Index 10.23 19.13 19.32 22.34 20.39 20.30
Ratio: Return / Standard Deviation -0.24 -0.17 -0.07 -0.04 0.18 0.18
Ratio: Return / Deepest Drawdown -0.41 -0.13 -0.05 -0.02 0.08 0.09
% Positive Months details 50% 50% 51% 52% 55% 55%
Positive Months 6 18 31 63 133 134
Negative Months 6 18 29 57 107 108
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y MAX
Best 10 Years Return (%) - Annualized -1.06 13.10 13.10
Worst 10 Years Return (%) - Annualized -3.71 -3.71
Best 10 Years Return (%) - Annualized -3.73 10.50 10.50
Worst 10 Years Return (%) - Annualized -5.35 -5.35
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y MAX
Over the latest 20Y
Best Rolling Return (%) - Annualized 84.57 38.45 18.87 13.10 4.75
Worst Rolling Return (%) - Annualized -52.86 -15.09 -11.63 -3.71
% Positive Periods 57% 66% 65% 79% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 67.91 23.28 14.06 7.98 9.22
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 3.17
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 79.86 34.17 16.47 10.50 2.13
Worst Rolling Return (%) - Annualized -54.55 -16.69 -13.20 -5.35
% Positive Periods 54% 51% 57% 57% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 67.91 23.28 14.06 7.98 9.22
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 3.17
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 2004 - Feb 2024)
Best Rolling Return (%) - Annualized 84.57 38.45 18.87 13.10 5.60
Worst Rolling Return (%) - Annualized -52.86 -15.09 -11.63 -3.71 4.75
% Positive Periods 57% 66% 66% 79% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 67.91 23.28 14.06 7.98 9.22
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 3.17
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 79.86 34.17 16.47 10.50 2.94
Worst Rolling Return (%) - Annualized -54.55 -16.69 -13.20 -5.35 2.13
% Positive Periods 54% 51% 57% 57% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 67.91 23.28 14.06 7.98 9.22
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - 3.17
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Feb 29, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of iShares MSCI South Africa ETF (EZA) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

ISHARES MSCI SOUTH AFRICA ETF (EZA) ETF
Monthly correlations as of 29 February 2024
Swipe left to see all data
Correlation vs EZA
Asset Class 1 Year 5 Years 10 Years Since
Jan 2004
VTI
US Total Stock Market
0.60
0.70
0.61
0.66
SPY
US Large Cap
0.59
0.69
0.60
0.65
IJR
US Small Cap
0.60
0.75
0.58
0.63
VNQ
US REITs
0.66
0.65
0.55
0.57
QQQ
US Technology
0.34
0.52
0.46
0.55
PFF
Preferred Stocks
0.44
0.62
0.53
0.44
EFA
EAFE Stocks
0.78
0.81
0.73
0.78
VT
World All Countries
0.69
0.78
0.71
0.76
EEM
Emerging Markets
0.79
0.82
0.82
0.86
VGK
Europe
0.78
0.81
0.71
0.75
VPL
Pacific
0.72
0.78
0.73
0.78
FLLA
Latin America
0.77
0.80
0.75
0.79
BND
US Total Bond Market
0.52
0.36
0.35
0.28
TLT
Long Term Treasuries
0.50
0.02
0.08
-0.01
BIL
US Cash
-0.05
-0.14
-0.10
-0.04
TIP
TIPS
0.56
0.39
0.43
0.36
LQD
Invest. Grade Bonds
0.58
0.53
0.52
0.40
HYG
High Yield Bonds
0.65
0.70
0.64
0.57
CWB
US Convertible Bonds
0.60
0.63
0.57
0.62
BNDX
International Bonds
0.41
0.36
0.32
0.25
EMB
Emerg. Market Bonds
0.71
0.72
0.68
0.65
GLD
Gold
0.34
0.36
0.36
0.38
DBC
Commodities
0.54
0.65
0.50
0.53

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

ISHARES MSCI SOUTH AFRICA ETF (EZA) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 March 2004 - 29 February 2024 (20 Years)
Data Source: 1 January 2004 - 29 February 2024 (~20 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-57.08% Nov 2007 Feb 2009 16 Dec 2010 22 38 28.03
-53.99% Feb 2018 Mar 2020 26 in progress 47 73 25.74
-34.95% May 2015 Feb 2016 10 Dec 2017 22 32 18.43
-25.52% May 2011 Sep 2011 5 Aug 2014 35 40 11.74
-24.39% May 2006 Sep 2006 5 Mar 2007 6 11 13.46
-14.76% Apr 2004 Apr 2004 1 Sep 2004 5 6 7.03
-14.09% Mar 2005 May 2005 3 Aug 2005 3 6 8.51
-12.17% Jan 2011 Jan 2011 1 Apr 2011 3 4 6.39
-9.18% Oct 2005 Oct 2005 1 Dec 2005 2 3 4.76
-9.14% Sep 2014 Sep 2014 1 Apr 2015 7 8 4.49
-6.71% Feb 2006 Feb 2006 1 Mar 2006 1 2 3.87
-6.53% Jan 2005 Jan 2005 1 Feb 2005 1 2 3.77
-6.13% May 2007 Jul 2007 3 Sep 2007 2 5 3.55
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Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 23 10.5 Months 9.54%
 
DD = 0% 9.54%
 
0% < DD <= -5% 28 8.6 Months 11.62%
 
DD <= -5% 21.16%
 
-5% < DD <= -10% 32 7.5 Months 13.28%
 
DD <= -10% 34.44%
 
-10% < DD <= -15% 34 7.1 Months 14.11%
 
DD <= -15% 48.55%
 
-15% < DD <= -20% 40 6.0 Months 16.60%
 
DD <= -20% 65.15%
 
-20% < DD <= -25% 36 6.7 Months 14.94%
 
DD <= -25% 80.08%
 
-25% < DD <= -30% 17 14.2 Months 7.05%
 
DD <= -30% 87.14%
 
-30% < DD <= -35% 15 16.1 Months 6.22%
 
DD <= -35% 93.36%
 
-35% < DD <= -40% 5 48.2 Months 2.07%
 
DD <= -40% 95.44%
 
-40% < DD <= -45% 2 120.5 Months 0.83%
 
DD <= -45% 96.27%
 
-45% < DD <= -50% 4 60.3 Months 1.66%
 
DD <= -50% 97.93%
 
-50% < DD <= -55% 4 60.3 Months 1.66%
 
DD <= -55% 99.59%
 
-55% < DD <= -60% 1 241.0 Months 0.41%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-57.79% Nov 2007 Feb 2009 16 Dec 2010 22 38 29.63
-55.64% Feb 2018 Mar 2020 26 in progress 47 73 32.00
-36.91% May 2011 Feb 2016 58 Dec 2017 22 80 17.19
-25.17% May 2006 Sep 2006 5 Mar 2007 6 11 14.04
-14.89% Apr 2004 Apr 2004 1 Sep 2004 5 6 7.42
-14.62% Mar 2005 May 2005 3 Aug 2005 3 6 8.96
-12.46% Jan 2011 Jan 2011 1 Apr 2011 3 4 6.73
-9.32% Oct 2005 Oct 2005 1 Dec 2005 2 3 4.78
-6.89% May 2007 Jul 2007 3 Sep 2007 2 5 4.09
-6.76% Feb 2006 Feb 2006 1 Apr 2006 2 3 3.38
-6.48% Jan 2005 Jan 2005 1 Feb 2005 1 2 3.74
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 20 12.1 Months 8.30%
 
DD = 0% 8.30%
 
0% < DD <= -5% 15 16.1 Months 6.22%
 
DD <= -5% 14.52%
 
-5% < DD <= -10% 32 7.5 Months 13.28%
 
DD <= -10% 27.80%
 
-10% < DD <= -15% 34 7.1 Months 14.11%
 
DD <= -15% 41.91%
 
-15% < DD <= -20% 27 8.9 Months 11.20%
 
DD <= -20% 53.11%
 
-20% < DD <= -25% 34 7.1 Months 14.11%
 
DD <= -25% 67.22%
 
-25% < DD <= -30% 29 8.3 Months 12.03%
 
DD <= -30% 79.25%
 
-30% < DD <= -35% 12 20.1 Months 4.98%
 
DD <= -35% 84.23%
 
-35% < DD <= -40% 15 16.1 Months 6.22%
 
DD <= -40% 90.46%
 
-40% < DD <= -45% 13 18.5 Months 5.39%
 
DD <= -45% 95.85%
 
-45% < DD <= -50% 4 60.3 Months 1.66%
 
DD <= -50% 97.51%
 
-50% < DD <= -55% 4 60.3 Months 1.66%
 
DD <= -55% 99.17%
 
-55% < DD <= -60% 2 120.5 Months 0.83%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-57.08% Nov 2007 Feb 2009 16 Dec 2010 22 38 28.03
-53.99% Feb 2018 Mar 2020 26 in progress 47 73 25.74
-34.95% May 2015 Feb 2016 10 Dec 2017 22 32 18.43
-25.52% May 2011 Sep 2011 5 Aug 2014 35 40 11.74
-24.39% May 2006 Sep 2006 5 Mar 2007 6 11 13.46
-14.76% Apr 2004 Apr 2004 1 Sep 2004 5 6 7.03
-14.09% Mar 2005 May 2005 3 Aug 2005 3 6 8.51
-12.17% Jan 2011 Jan 2011 1 Apr 2011 3 4 6.39
-9.18% Oct 2005 Oct 2005 1 Dec 2005 2 3 4.76
-9.14% Sep 2014 Sep 2014 1 Apr 2015 7 8 4.49
-6.71% Feb 2006 Feb 2006 1 Mar 2006 1 2 3.87
-6.53% Jan 2005 Jan 2005 1 Feb 2005 1 2 3.77
-6.13% May 2007 Jul 2007 3 Sep 2007 2 5 3.55
-0.98% Jan 2004 Jan 2004 1 Feb 2004 1 2 0.56
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 24 10.1 Months 9.88%
 
DD = 0% 9.88%
 
0% < DD <= -5% 29 8.4 Months 11.93%
 
DD <= -5% 21.81%
 
-5% < DD <= -10% 32 7.6 Months 13.17%
 
DD <= -10% 34.98%
 
-10% < DD <= -15% 34 7.1 Months 13.99%
 
DD <= -15% 48.97%
 
-15% < DD <= -20% 40 6.1 Months 16.46%
 
DD <= -20% 65.43%
 
-20% < DD <= -25% 36 6.8 Months 14.81%
 
DD <= -25% 80.25%
 
-25% < DD <= -30% 17 14.3 Months 7.00%
 
DD <= -30% 87.24%
 
-30% < DD <= -35% 15 16.2 Months 6.17%
 
DD <= -35% 93.42%
 
-35% < DD <= -40% 5 48.6 Months 2.06%
 
DD <= -40% 95.47%
 
-40% < DD <= -45% 2 121.5 Months 0.82%
 
DD <= -45% 96.30%
 
-45% < DD <= -50% 4 60.8 Months 1.65%
 
DD <= -50% 97.94%
 
-50% < DD <= -55% 4 60.8 Months 1.65%
 
DD <= -55% 99.59%
 
-55% < DD <= -60% 1 243.0 Months 0.41%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-57.79% Nov 2007 Feb 2009 16 Dec 2010 22 38 29.63
-55.64% Feb 2018 Mar 2020 26 in progress 47 73 32.00
-36.91% May 2011 Feb 2016 58 Dec 2017 22 80 17.19
-25.17% May 2006 Sep 2006 5 Mar 2007 6 11 14.04
-14.89% Apr 2004 Apr 2004 1 Sep 2004 5 6 7.42
-14.62% Mar 2005 May 2005 3 Aug 2005 3 6 8.96
-12.46% Jan 2011 Jan 2011 1 Apr 2011 3 4 6.73
-9.32% Oct 2005 Oct 2005 1 Dec 2005 2 3 4.78
-6.89% May 2007 Jul 2007 3 Sep 2007 2 5 4.09
-6.76% Feb 2006 Feb 2006 1 Apr 2006 2 3 3.38
-6.48% Jan 2005 Jan 2005 1 Feb 2005 1 2 3.74
-1.40% Jan 2004 Jan 2004 1 Feb 2004 1 2 0.81
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 21 11.6 Months 8.64%
 
DD = 0% 8.64%
 
0% < DD <= -5% 16 15.2 Months 6.58%
 
DD <= -5% 15.23%
 
-5% < DD <= -10% 32 7.6 Months 13.17%
 
DD <= -10% 28.40%
 
-10% < DD <= -15% 34 7.1 Months 13.99%
 
DD <= -15% 42.39%
 
-15% < DD <= -20% 27 9.0 Months 11.11%
 
DD <= -20% 53.50%
 
-20% < DD <= -25% 34 7.1 Months 13.99%
 
DD <= -25% 67.49%
 
-25% < DD <= -30% 29 8.4 Months 11.93%
 
DD <= -30% 79.42%
 
-30% < DD <= -35% 12 20.3 Months 4.94%
 
DD <= -35% 84.36%
 
-35% < DD <= -40% 15 16.2 Months 6.17%
 
DD <= -40% 90.53%
 
-40% < DD <= -45% 13 18.7 Months 5.35%
 
DD <= -45% 95.88%
 
-45% < DD <= -50% 4 60.8 Months 1.65%
 
DD <= -50% 97.53%
 
-50% < DD <= -55% 4 60.8 Months 1.65%
 
DD <= -55% 99.18%
 
-55% < DD <= -60% 2 121.5 Months 0.82%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 

Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

ISHARES MSCI SOUTH AFRICA ETF (EZA) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 March 2004 - 29 February 2024 (20 Years)
Data Source: 1 January 2004 - 29 February 2024 (~20 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -52.86 11/2007
10/2008
0.47$ -16.37 0.83$ 3.56 1.03$ 32.88 1.32$ 84.57 04/2020
03/2021
1.84$ -6.62 42.79%
2Y -30.49 04/2018
03/2020
0.48$ -8.34 0.84$ 3.07 1.06$ 22.71 1.50$ 55.72 03/2009
02/2011
2.42$ -13.15 39.17%
3Y -15.09 04/2017
03/2020
0.61$ -3.39 0.90$ 2.70 1.08$ 12.41 1.42$ 38.45 05/2004
04/2007
2.65$ -4.33 33.66%
5Y -11.63 04/2015
03/2020
0.53$ -3.12 0.85$ 3.10 1.16$ 10.81 1.67$ 18.87 03/2009
02/2014
2.37$ -2.04 34.25%
7Y -7.18 04/2013
03/2020
0.59$ -0.98 0.93$ 2.88 1.21$ 8.85 1.81$ 20.04 05/2004
04/2011
3.59$ -1.03 25.48%
10Y -3.71 04/2010
03/2020
0.68$ -0.51 0.95$ 2.26 1.24$ 8.11 2.18$ 13.10 05/2004
04/2014
3.42$ -1.06 20.66%
15Y -0.73 11/2007
10/2022
0.89$ 1.46 1.24$ 3.11 1.58$ 5.19 2.13$ 8.36 05/2004
04/2019
3.33$ 5.19 3.28%
20Y 4.75 03/2004
02/2024
2.52$ 4.75 2.52$ 4.75 2.52$ 4.75 2.52$ 4.75 03/2004
02/2024
2.52$ 4.75 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -54.55 11/2007
10/2008
0.45$ -17.58 0.82$ 1.37 1.01$ 28.10 1.28$ 79.86 04/2020
03/2021
1.79$ -9.09 45.85%
2Y -31.65 04/2018
03/2020
0.46$ -10.87 0.79$ 0.23 1.00$ 19.25 1.42$ 52.46 03/2009
02/2011
2.32$ -16.75 48.39%
3Y -16.69 04/2017
03/2020
0.57$ -5.62 0.84$ 0.12 1.00$ 10.05 1.33$ 34.17 05/2004
04/2007
2.41$ -9.33 48.78%
5Y -13.20 04/2015
03/2020
0.49$ -5.28 0.76$ 1.10 1.05$ 8.39 1.49$ 16.47 03/2009
02/2014
2.14$ -5.90 42.54%
7Y -8.57 04/2013
03/2020
0.53$ -3.04 0.80$ 0.67 1.04$ 6.58 1.56$ 17.02 05/2004
04/2011
3.00$ -4.34 45.22%
10Y -5.35 04/2010
03/2020
0.57$ -2.67 0.76$ 0.46 1.04$ 5.87 1.76$ 10.50 05/2004
04/2014
2.71$ -3.73 42.98%
15Y -3.04 11/2007
10/2022
0.62$ -0.87 0.87$ 0.98 1.15$ 3.00 1.55$ 6.15 05/2004
04/2019
2.44$ 2.58 31.15%
20Y 2.13 03/2004
02/2024
1.52$ 2.13 1.52$ 2.13 1.52$ 2.13 1.52$ 2.13 03/2004
02/2024
1.52$ 2.13 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -52.86 11/2007
10/2008
0.47$ -15.73 0.84$ 3.89 1.03$ 33.48 1.33$ 84.57 04/2020
03/2021
1.84$ -6.62 42.42%
2Y -30.49 04/2018
03/2020
0.48$ -8.34 0.84$ 3.24 1.06$ 24.09 1.53$ 55.72 03/2009
02/2011
2.42$ -13.15 38.81%
3Y -15.09 04/2017
03/2020
0.61$ -3.39 0.90$ 2.73 1.08$ 12.68 1.43$ 38.45 05/2004
04/2007
2.65$ -4.33 33.33%
5Y -11.63 04/2015
03/2020
0.53$ -3.12 0.85$ 3.21 1.17$ 10.81 1.67$ 18.87 03/2009
02/2014
2.37$ -2.04 33.88%
7Y -7.18 04/2013
03/2020
0.59$ -0.98 0.93$ 2.93 1.22$ 8.96 1.82$ 20.04 05/2004
04/2011
3.59$ -1.03 25.16%
10Y -3.71 04/2010
03/2020
0.68$ -0.51 0.95$ 2.26 1.25$ 8.90 2.34$ 13.10 05/2004
04/2014
3.42$ -1.06 20.33%
15Y -0.73 11/2007
10/2022
0.89$ 1.46 1.24$ 3.14 1.59$ 5.70 2.29$ 8.36 05/2004
04/2019
3.33$ 5.19 3.17%
20Y 4.75 03/2004
02/2024
2.52$ 4.75 2.52$ 5.31 2.81$ 5.60 2.97$ 5.60 01/2004
12/2023
2.97$ 4.75 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -54.55 11/2007
10/2008
0.45$ -17.36 0.82$ 1.44 1.01$ 28.44 1.28$ 79.86 04/2020
03/2021
1.79$ -9.09 45.45%
2Y -31.65 04/2018
03/2020
0.46$ -10.87 0.79$ 0.30 1.00$ 20.59 1.45$ 52.46 03/2009
02/2011
2.32$ -16.75 47.95%
3Y -16.69 04/2017
03/2020
0.57$ -5.62 0.84$ 0.32 1.00$ 10.34 1.34$ 34.17 05/2004
04/2007
2.41$ -9.33 48.31%
5Y -13.20 04/2015
03/2020
0.49$ -5.28 0.76$ 1.12 1.05$ 8.39 1.49$ 16.47 03/2009
02/2014
2.14$ -5.90 42.08%
7Y -8.57 04/2013
03/2020
0.53$ -3.04 0.80$ 0.94 1.06$ 6.94 1.59$ 17.02 05/2004
04/2011
3.00$ -4.34 44.65%
10Y -5.35 04/2010
03/2020
0.57$ -2.67 0.76$ 0.50 1.05$ 6.67 1.90$ 10.50 05/2004
04/2014
2.71$ -3.73 42.28%
15Y -3.04 11/2007
10/2022
0.62$ -0.87 0.87$ 1.09 1.17$ 3.60 1.70$ 6.15 05/2004
04/2019
2.44$ 2.58 30.16%
20Y 2.13 03/2004
02/2024
1.52$ 2.13 1.52$ 2.67 1.69$ 2.94 1.78$ 2.94 01/2004
12/2023
1.78$ 2.13 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the iShares MSCI South Africa ETF (EZA) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in iShares MSCI South Africa ETF (EZA) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.19
60%
-3.06
40%
-3.37
60%
1.31
60%
-0.95
60%
0.98
60%
2.43
40%
-4.94
20%
-3.95
0%
1.93
75%
6.29
60%
5.19
80%
Best 9.3
2022
5.3
2021
6.8
2021
10.4
2020
7.6
2021
9.3
2023
12.1
2023
2.1
2021
-0.6
2020
5.4
2022
17.0
2022
11.1
2020
Worst -9.0
2020
-9.8
2020
-29.5
2020
-13.7
2022
-13.8
2023
-10.2
2022
-5.5
2019
-12.3
2023
-9.5
2022
-0.6
2023
-4.6
2021
-3.1
2022
Monthly Seasonality over the period Feb 2004 - Feb 2024
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
2.53
70%
-2.39
40%
0.26
60%
2.02
70%
-2.54
50%
0.74
60%
2.95
60%
-4.57
30%
-3.70
10%
1.29
67%
3.30
50%
2.34
60%
Best 14.2
2019
5.3
2021
18.3
2016
10.4
2020
7.6
2021
9.3
2023
12.1
2023
3.9
2017
6.7
2016
6.6
2014
17.0
2022
11.1
2020
Worst -9.0
2020
-9.8
2020
-29.5
2020
-13.7
2022
-13.8
2023
-10.2
2022
-5.5
2019
-12.3
2023
-9.5
2022
-10.0
2018
-8.1
2016
-11.0
2015
Monthly Seasonality over the period Feb 2004 - Feb 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
-0.74
48%
-0.30
57%
2.14
60%
2.01
65%
-2.26
40%
-0.15
55%
3.03
70%
-1.97
40%
-0.95
40%
0.80
63%
3.04
55%
3.98
70%
Best 17.0
2006
8.3
2005
21.4
2009
10.8
2008
18.4
2009
9.3
2023
15.2
2010
7.5
2005
15.1
2010
15.4
2007
17.0
2022
14.3
2010
Worst -13.9
2009
-9.8
2020
-29.5
2020
-14.8
2004
-15.6
2006
-10.2
2022
-5.5
2019
-12.3
2023
-17.9
2011
-29.6
2008
-8.1
2016
-11.0
2015
Monthly Seasonality over the period Feb 2004 - Feb 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the iShares MSCI South Africa ETF (EZA) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

ISHARES MSCI SOUTH AFRICA ETF (EZA) ETF
Monthly Returns Distribution
Data Source: 1 March 2004 - 29 February 2024 (20 Years)
Data Source: 1 January 2004 - 29 February 2024 (~20 years)
133 Positive Months (55%) - 107 Negative Months (45%)
134 Positive Months (55%) - 108 Negative Months (45%)
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(Scroll down to see all data)
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