FTEC vs. EZA

Last updated Jun 25, 2026

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

Performance

FTEC vs. EZA - Performance Comparison

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

Returns By Period

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

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%

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%

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

FTEC vs. EZA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

The correlation between FTEC and EZA 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

FTEC vs. EZA - Sectors Allocation Comparison

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

Return for Risk

FTEC vs. EZA — Risk / Return Rank

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

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

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

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.

FTEC vs. EZA - Risk-Adjusted Trends Comparison

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

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.

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

FTEC vs. EZA - Sharpe Ratio Comparison

The current FTEC Sharpe Ratio is 1.94, which is higher than the EZA Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of FTEC and EZA, 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

FTEC vs. EZA - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

FTEC vs. EZA - Volatility Comparison

Fidelity MSCI Information Technology Index ETF (FTEC) and iShares MSCI South Africa ETF (EZA) have volatilities of 11.39% and 11.36%, 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

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

FTEC vs. EZA - Expense Ratio Comparison

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

Dividends

FTEC vs. EZA - Dividend Comparison

FTEC's dividend yield for the trailing twelve months is around 0.36%, less than EZA's 8.11% 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 FTEC and EZA in my portfolio?

FTEC and EZA 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, FTEC or EZA?

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

Which ETF is better, FTEC or EZA?

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, FTEC or EZA?

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, FTEC or EZA?

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

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

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

What is the main difference between FTEC and EZA?

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

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.