EZA vs. WREE.L

Last updated Jun 13, 2026

EZA (iShares MSCI South Africa ETF) and WREE.L (WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD Acc) are both exchange-traded funds - EZA is a Emerging Markets Equities fund tracking the MSCI South Africa Index, while WREE.L is a Commodity Producers Equities fund tracking the WisdomTree Strategic Metals and Rare Earths Miners Index. Both are passively managed. Over the past year, EZA returned 30.30% vs 86.50% for WREE.L. A 0.58 correlation means they provide meaningful diversification when combined. EZA charges 0.59%/yr vs 0.50%/yr for WREE.L.

Performance

EZA vs. WREE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI South Africa ETF (EZA) and WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD Acc (WREE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EZA is traded in USD, while WREE.L is traded in GBp. To make them comparable, the WREE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EZA achieves a -2.81% return, which is significantly lower than WREE.L's 7.52% return.

EZA

• 1D: 0.89%
• 1M: -5.51%
• YTD: -2.81%
• 6M: 2.77%
• 1Y: 30.30%
• 3Y*: 23.45%
• 5Y*: 9.50%
• 10Y*: 8.12%

WREE.L

• 1D: 0.00%
• 1M: -18.55%
• YTD: 7.52%
• 6M: 16.99%
• 1Y: 86.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EZA vs. WREE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZA iShares MSCI South Africa ETF	-2.81%	75.20%	16.62%
WREE.L WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD Acc	7.52%	115.45%	7,447.09%

Correlation

The correlation between EZA and WREE.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 22, 2024	0.58

The correlation between EZA and WREE.L has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

EZA vs. WREE.L — Risk / Return Rank

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

EZA

EZA Risk / Return Rank: 29
EZA Sharpe Ratio Rank: 30
EZA Sortino Ratio Rank: 28
EZA Omega Ratio Rank: 30
EZA Calmar Ratio Rank: 31
EZA Martin Ratio Rank: 28

WREE.L

WREE.L Risk / Return Rank: 59
WREE.L Sharpe Ratio Rank: 52
WREE.L Sortino Ratio Rank: 51
WREE.L Omega Ratio Rank: 69
WREE.L Calmar Ratio Rank: 74
WREE.L Martin Ratio Rank: 51

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. WREE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa ETF (EZA) and WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD Acc (WREE.L). 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	WREE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.51	-0.56
Sortino ratio: Return per unit of downside risk	1.41	2.13	-0.72
Omega ratio: Gain probability vs. loss probability	1.18	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	1.31	3.04	-1.73
Martin ratio: Return relative to average drawdown	3.41	7.22	-3.81

EZA vs. WREE.L - Sharpe Ratio Comparison

The current EZA Sharpe Ratio is 0.95, which is lower than the WREE.L Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of EZA and WREE.L, 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. WREE.L - Drawdown Comparison

The maximum EZA drawdown since its inception was -64.64%, which is greater than WREE.L's maximum drawdown of -28.46%. Use the drawdown chart below to compare losses from any high point for EZA and WREE.L.

Drawdown Indicators

	EZA	WREE.L	Difference
Max Drawdown Largest peak-to-trough decline	-64.64%	-28.46%	-36.18%
Max Drawdown (1Y) Largest decline over 1 year	-23.31%	-28.46%	+5.15%
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 Drawdown Current decline from peak	-18.05%	-20.09%	+2.04%
Average Drawdown Average peak-to-trough decline	-16.92%	-9.75%	-7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.93%	11.98%	-3.05%

Volatility

EZA vs. WREE.L - Volatility Comparison

The current volatility for iShares MSCI South Africa ETF (EZA) is 11.34%, while WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD Acc (WREE.L) has a volatility of 13.93%. This indicates that EZA experiences smaller price fluctuations and is considered to be less risky than WREE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZA	WREE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.34%	13.93%	-2.59%
Volatility (6M) Calculated over the trailing 6-month period	27.03%	32.35%	-5.32%
Volatility (1Y) Calculated over the trailing 1-year period	31.92%	57.20%	-25.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.86%	5,433.65%	-5,404.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.43%	5,433.65%	-5,402.22%

EZA vs. WREE.L - Expense Ratio Comparison

EZA has a 0.59% expense ratio, which is higher than WREE.L's 0.50% expense ratio.

Dividends

EZA vs. WREE.L - Dividend Comparison

EZA's dividend yield for the trailing twelve months is around 6.34%, while WREE.L 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	6.34%	6.16%	7.26%	2.84%	3.90%	2.05%	5.51%	12.27%	3.81%	1.55%	4.10%	3.03%
WREE.L WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD Acc	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

Can I hold both EZA and WREE.L in my portfolio?

EZA and WREE.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EZA or WREE.L?

On fees, WREE.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EZA or WREE.L?

WREE.L is cheaper with a 0.50% expense ratio, compared with 0.59% for EZA.

What is the main difference between EZA and WREE.L?

EZA is categorized as Emerging Markets Equities, while WREE.L is Commodity Producers Equities. EZA tracks MSCI South Africa Index, while WREE.L tracks WisdomTree Strategic Metals and Rare Earths Miners Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for EZA and 0.50% for WREE.L.