EZA vs. FTEC

Last updated Jun 25, 2026

EZA (iShares MSCI South Africa ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - EZA is a Emerging Markets Equities fund tracking the MSCI South Africa Index, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, EZA returned 7.44%/yr vs 25.18%/yr for FTEC. At a 0.48 correlation, their price movements are largely independent. EZA charges 0.59%/yr vs 0.08%/yr for FTEC.

Performance

EZA vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI South Africa ETF (EZA) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZA achieves a -7.64% return, which is significantly lower than FTEC's 22.66% return. Over the past 10 years, EZA has underperformed FTEC with an annualized return of 7.44%, while FTEC has yielded a comparatively higher 25.18% annualized return.

EZA

• 1D: -2.74%
• 1M: -5.60%
• YTD: -7.64%
• 6M: -9.12%
• 1Y: 25.36%
• 3Y*: 23.33%
• 5Y*: 9.54%
• 10Y*: 7.44%

FTEC

• 1D: -0.73%
• 1M: -0.38%
• YTD: 22.66%
• 6M: 20.59%
• 1Y: 43.89%
• 3Y*: 30.26%
• 5Y*: 19.62%
• 10Y*: 25.18%

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

EZA vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EZA iShares MSCI South Africa ETF	-7.64%	75.20%	7.16%	1.51%	-5.18%	7.91%	-5.19%	9.83%	-25.24%	36.03%
FTEC Fidelity MSCI Information Technology Index ETF	22.66%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between EZA and FTEC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.48

EZA vs. FTEC - Sectors Allocation Comparison

Sectors	EZA	FTEC
Basic Materials	39.0%	0.0%
Financial Services	33.5%	0.6%
Consumer Cyclical	14.3%	0.0%
Communication Services	6.5%	0.0%
Consumer Defensive	2.5%	-
Real Estate	1.6%	-
Industrials	1.5%	0.6%
Healthcare	1.1%	-
Energy	-	0.3%
Technology	-	98.3%
Utilities	-	-

Return for Risk

EZA vs. FTEC — Risk / Return Rank

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

EZA

EZA Risk / Return Rank: 24
EZA Sharpe Ratio Rank: 24
EZA Sortino Ratio Rank: 24
EZA Omega Ratio Rank: 24
EZA Calmar Ratio Rank: 25
EZA Martin Ratio Rank: 23

FTEC

FTEC Risk / Return Rank: 59
FTEC Sharpe Ratio Rank: 66
FTEC Sortino Ratio Rank: 58
FTEC Omega Ratio Rank: 59
FTEC Calmar Ratio Rank: 61
FTEC Martin Ratio Rank: 52

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.

EZA vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa ETF (EZA) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EZA	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	0.79	1.94	-1.15
Sortino ratio: Return per unit of downside risk	1.23	2.47	-1.24
Omega ratio: Gain probability vs. loss probability	1.16	1.33	-0.17
Calmar ratio: Return relative to maximum drawdown	1.09	2.71	-1.62
Martin ratio: Return relative to average drawdown	2.71	8.29	-5.58

EZA vs. FTEC - Sharpe Ratio Comparison

The current EZA Sharpe Ratio is 0.79, which is lower than the FTEC Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of EZA and FTEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EZA vs. FTEC - Drawdown Comparison

The maximum EZA drawdown since its inception was -64.64%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for EZA and FTEC.

Drawdown Indicators

	EZA	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-64.64%	-34.95%	-29.69%
Max Drawdown (1Y) Largest decline over 1 year	-23.31%	-16.26%	-7.05%
Max Drawdown (3Y) Largest decline over 3 years	-23.31%	-27.30%	+3.99%
Max Drawdown (5Y) Largest decline over 5 years	-34.94%	-34.95%	+0.01%
Max Drawdown (10Y) Largest decline over 10 years	-62.25%	-34.95%	-27.30%
Current Drawdown Current decline from peak	-22.13%	-8.39%	-13.74%
Average Drawdown Average peak-to-trough decline	-16.92%	-5.57%	-11.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.39%	5.31%	+4.08%

Volatility

EZA vs. FTEC - Volatility Comparison

iShares MSCI South Africa ETF (EZA) and Fidelity MSCI Information Technology Index ETF (FTEC) have volatilities of 11.36% and 11.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZA	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.36%	11.39%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	27.46%	18.57%	+8.89%
Volatility (1Y) Calculated over the trailing 1-year period	32.18%	22.79%	+9.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.92%	25.60%	+3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.28%	24.86%	+6.42%

EZA vs. FTEC - Expense Ratio Comparison

EZA has a 0.59% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

EZA vs. FTEC - Dividend Comparison

EZA's dividend yield for the trailing twelve months is around 8.11%, more than FTEC's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EZA iShares MSCI South Africa ETF	8.11%	6.16%	7.26%	2.84%	3.90%	2.05%	5.51%	12.27%	3.81%	1.55%	4.10%	3.03%
FTEC Fidelity MSCI Information Technology Index ETF	0.36%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%

Frequently Asked Questions

Can I hold both EZA and FTEC in my portfolio?

EZA and FTEC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZA or FTEC?

FTEC has higher volatility (11.39%) compared to EZA (11.36%). In terms of maximum drawdown, EZA dropped -64.64% vs FTEC's -34.95%.

Which ETF is better, EZA or FTEC?

On 10-year performance, FTEC leads with 25.18% vs 7.44% for EZA. On fees, FTEC is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZA or FTEC?

Over the 10-year period, FTEC has performed better with a 25.18% return vs 7.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZA or FTEC?

FTEC is cheaper with a 0.08% expense ratio, compared with 0.59% for EZA.

Which ETF pays a higher dividend yield, EZA or FTEC?

EZA has the higher dividend yield at 8.11%, compared with 0.36% for FTEC.

What is the main difference between EZA and FTEC?

EZA is categorized as Emerging Markets Equities, while FTEC is Technology Equities. EZA tracks MSCI South Africa Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.59% for EZA and 0.08% for FTEC.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (1.94 vs 0.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.