EZA vs. IBIT
EZA (iShares MSCI South Africa ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - EZA is a Emerging Markets Equities fund tracking the MSCI South Africa Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, EZA returned 28.73% vs -45.30% for IBIT. At a 0.26 correlation, their price movements are largely independent. EZA charges 0.59%/yr vs 0.25%/yr for IBIT.
Performance
EZA vs. IBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EZA achieves a -6.17% return, which is significantly higher than IBIT's -32.49% return.
EZA
- 1D
- 1.59%
- 1M
- -7.53%
- YTD
- -6.17%
- 6M
- -7.67%
- 1Y
- 28.73%
- 3Y*
- 24.11%
- 5Y*
- 9.89%
- 10Y*
- 8.07%
IBIT
- 1D
- -1.03%
- 1M
- -22.03%
- YTD
- -32.49%
- 6M
- -32.23%
- 1Y
- -45.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EZA vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EZA iShares MSCI South Africa ETF | -6.17% | 75.20% | 14.71% |
IBIT iShares Bitcoin Trust ETF | -32.49% | -6.41% | 89.87% |
Correlation
The correlation between EZA and IBIT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.26 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EZA vs. IBIT — Risk / Return Rank
EZA
IBIT
EZA vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa ETF (EZA) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.83 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | -0.86 | +2.10 |
| Martin ratioReturn relative to average drawdown | 3.04 | -1.47 | +4.50 |
Loading charts...
Drawdowns
EZA vs. IBIT - Drawdown Comparison
The maximum EZA drawdown since its inception was -64.64%, which is greater than IBIT's maximum drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for EZA and IBIT.
Loading charts...
Drawdown Indicators
| EZA | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.64% | -52.98% | -11.66% |
Max Drawdown (1Y)Largest decline over 1 year | -23.31% | -52.98% | +29.67% |
Max Drawdown (3Y)Largest decline over 3 years | -23.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.25% | — | — |
Current DrawdownCurrent decline from peak | -20.89% | -52.98% | +32.09% |
Average DrawdownAverage peak-to-trough decline | -16.92% | -16.97% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.48% | 30.94% | -21.46% |
Volatility
EZA vs. IBIT - Volatility Comparison
The current volatility for iShares MSCI South Africa ETF (EZA) is 10.79%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.43%. This indicates that EZA experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EZA | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.79% | 13.43% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 27.45% | 34.60% | -7.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.15% | 44.41% | -12.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.93% | 50.21% | -21.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.28% | 50.21% | -18.93% |
EZA vs. IBIT - Expense Ratio Comparison
EZA has a 0.59% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
EZA vs. IBIT - Dividend Comparison
EZA's dividend yield for the trailing twelve months is around 7.99%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZA iShares MSCI South Africa ETF | 7.99% | 6.16% | 7.26% | 2.84% | 3.90% | 2.05% | 5.51% | 12.27% | 3.81% | 1.55% | 4.10% | 3.03% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EZA and IBIT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.43%) compared to EZA (10.79%). In terms of maximum drawdown, EZA dropped -64.64% vs IBIT's -52.98%.
On 1-year performance, EZA leads with 28.73% vs -45.30% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, EZA has been the lower-risk option at 10.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EZA has performed better with a 28.73% return vs -45.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.59% for EZA.
EZA has the higher dividend yield at 7.99%, compared with 0.00% for IBIT.
EZA is categorized as Emerging Markets Equities, while IBIT is Cryptocurrency. EZA tracks MSCI South Africa Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.59% for EZA and 0.25% for IBIT.
EZA currently has the higher Sharpe Ratio (0.90 vs -1.02), 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.
Find the right allocation for EZA and IBIT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer