A1G.AX vs. EZA

Last updated Jun 4, 2026

A1G.AX (African Gold Limited) is a stock, while EZA (iShares MSCI South Africa ETF) is Emerging Markets Equities fund tracking the MSCI South Africa Index. At a 0.03 correlation, their price movements are largely independent.

Performance

A1G.AX vs. EZA - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in African Gold Limited (A1G.AX) and iShares MSCI South Africa ETF (EZA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

A1G.AX is traded in AUD, while EZA is traded in USD. To make them comparable, the EZA values have been converted to AUD using the latest available exchange rates.

Returns By Period

A1G.AX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EZA

• 1D: -1.75%
• 1M: 0.42%
• YTD: -8.79%
• 6M: -2.16%
• 1Y: 22.13%
• 3Y*: 23.43%
• 5Y*: 10.59%
• 10Y*: 7.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

A1G.AX vs. EZA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
A1G.AX African Gold Limited	57.58%	1,100.00%	103.58%	-66.24%	-47.52%	-10.46%	44.28%	-43.31%
EZA iShares MSCI South Africa ETF	-8.79%	62.48%	17.94%	1.58%	1.09%	14.24%	-13.51%	6.56%

Correlation

The correlation between A1G.AX and EZA is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (All Time) Calculated using the full available price history since Feb 15, 2019	0.03

Return for Risk

A1G.AX vs. EZA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EZA

EZA Risk / Return Rank: 30
EZA Sharpe Ratio Rank: 30
EZA Sortino Ratio Rank: 29
EZA Omega Ratio Rank: 30
EZA Calmar Ratio Rank: 30
EZA Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

A1G.AX vs. EZA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for African Gold Limited (A1G.AX) and iShares MSCI South Africa ETF (EZA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	A1G.AX	EZA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.84	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.19	—

Drawdowns

Drawdown Indicators

	A1G.AX	EZA	Difference
Max Drawdown Largest peak-to-trough decline	—	-50.68%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-22.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.71%	—
Current Drawdown Current decline from peak	—	-18.00%	—
Average Drawdown Average peak-to-trough decline	—	-13.74%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.15%	—

Volatility

Volatility by Period

	A1G.AX	EZA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.59%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	23.30%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.72%	—

Dividends

A1G.AX vs. EZA - Dividend Comparison

A1G.AX has not paid dividends to shareholders, while EZA's dividend yield for the trailing twelve months is around 6.32%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
A1G.AX African Gold Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EZA iShares MSCI South Africa ETF	6.32%	6.16%	7.26%	2.84%	3.90%	2.05%	5.51%	12.27%	3.81%	1.55%	4.10%	3.03%

Frequently Asked Questions

Can I hold both A1G.AX and EZA in my portfolio?

A1G.AX and EZA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.