EZA vs MSSM

Comparison between ISHARES MSCI SOUTH AFRICA ETF (EZA, ETF) and MORGAN STANLEY PATHWAY SMALL-MID CAP EQUITY ETF (MSSM, ETF).

EZA vs MSSM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	EZA(ETF)	MSSM(ETF)
Net Assets	$729M	$728M
Expense Ratio	0.59%	0.62%
Max Drawdown	68.15%	24.18%
Sharpe Ratio	0.84	1.50
5Y Beta	0.95	1.05
P/E Ratio	N/A	61.64
Forward P/E	N/A	14.99
5Y Dividends CAGR	-1.35%	N/A
5Y EPS CAGR	N/A	14.26%
Debt to Equity	N/A	56.02%
P/S Ratio	N/A	1.30
P/B Ratio	N/A	2.42

Net Assets

Winner

EZA

$729M

MSSM

$728M

Expense Ratio

Winner

EZA

0.59%

MSSM

0.62%

Max Drawdown

EZA

68.15%

Winner

MSSM

24.18%

Sharpe Ratio

EZA

0.84

Winner

MSSM

1.50

5Y Beta

Winner

EZA

0.95

MSSM

1.05

P/E Ratio

EZA

N/A

MSSM

61.64

Forward P/E

EZA

N/A

MSSM

14.99

5Y Dividends CAGR

EZA

-1.35%

MSSM

N/A

5Y EPS CAGR

EZA

N/A

MSSM

14.26%

Debt to Equity

EZA

N/A

MSSM

56.02%

P/S Ratio

EZA

N/A

MSSM

1.30

P/B Ratio

EZA

N/A

MSSM

2.42

EZA vs MSSM - Holdings Comparison

EZA and MSSM have 1 common holdings. Overlap is -0.03%

EZA's top 25 holdings weight is 97.40%. MSSM's top 25 holdings weight is 16.45%.

Rank	EZA	MSSM
#1	ANGLOGOLD ASHANTI PLC (AU) - 11.61%	US DOLLARS (n/a) - 2.65%
#2	NASPERS LTD CLASS N (n/a) - 10.42%	COMFORT SYSTEMS USA INC (FIX) - 1.11%
#3	GOLD FIELDS LTD (n/a) - 8.94%	ASCENDIS PHARMA AS ADR (ASND) - 0.96%
#4	FIRSTRAND LTD (n/a) - 6.94%	KYNDRYL HOLDINGS INC ORDINARY SHARES (KD) - 0.83%
#5	STANDARD BANK GROUP LTD (n/a) - 5.39%	RAMBUS INC (RMBS) - 0.68%
#6	MTN GROUP LTD (n/a) - 5.19%	CACI INTERNATIONAL INC CLASS A (CACI) - 0.64%
#7	CAPITEC BANK HOLDINGS LTD (n/a) - 4.60%	REGAL REXNORD CORP (RRX) - 0.62%
#8	VALTERRA PLATINUM LTD (n/a) - 4.43%	FTAI AVIATION LTD (FTAI) - 0.60%
#9	IMPALA PLATINUM HOLDINGS LTD (n/a) - 3.59%	BRINKER INTERNATIONAL INC (EAT) - 0.56%
#10	ABSA GROUP LTD (n/a) - 3.54%	CIENA CORP (CIEN) - 0.54%
#11	DISCOVERY LTD (n/a) - 2.84%	AERCAP HOLDINGS NV (AER) - 0.53%
#12	HARMONY GOLD MINING CO LTD (n/a) - 2.80%	ITT INC (ITT) - 0.53%
#13	SANLAM LTD (n/a) - 2.71%	ORMAT TECHNOLOGIES INC (ORA) - 0.52%
#14	SASOL LTD (n/a) - 2.61%	WINTRUST FINANCIAL CORP (WTFC) - 0.51%
#15	BID CORP LTD (n/a) - 2.60%	DYNATRACE INC ORDINARY SHARES (DT) - 0.51%
#16	SHOPRITE HOLDINGS LTD (n/a) - 2.59%	COMMVAULT SYSTEMS INC (CVLT) - 0.49%
#17	SIBANYE STILLWATER LTD ORDINARY SHARES (n/a) - 2.44%	n/a (n/a) - 0.49%
#18	NEDBANK GROUP LTD (n/a) - 2.19%	TEXAS CAPITAL BANCSHARES INC (TCBI) - 0.49%
#19	NORTHAM PLATINUM HOLDINGS LTD (n/a) - 2.02%	SEMTECH CORP (SMTC) - 0.48%
#20	REMGRO LTD (n/a) - 1.85%	INSMED INC (INSM) - 0.47%
#21	VODACOM GROUP LTD (n/a) - 1.81%	CASELLA WASTE SYSTEMS INC CLASS A (CWST) - 0.47%
#22	NEPI ROCKCASTLE NV (n/a) - 1.67%	CRITEO SA ADR (CRTO) - 0.46%
#23	REINET INVESTMENTS SCA (n/a) - 1.59%	AVIENT CORP (AVNT) - 0.44%
#24	BIDVEST GROUP LTD (n/a) - 1.53%	BADGER METER INC (BMI) - 0.44%
#25	PEPKOR HOLDINGS LTD (n/a) - 1.50%	NEXTRACKER INC ORDINARY SHARES CLASS A (NXT) - 0.43%
Total Holdings	35	1934

EZA vs MSSM - Historical Returns

Returns include dividend reinvestment.

Period	EZA	MSSM
1 month	-5.00%	+0.14%
3 months	-9.87%	+8.77%
6 months	+0.04%	+13.70%
1 year	+27.17%	+33.00%
5 years(CAGR)	+7.93%	N/A
10 years(CAGR)	+6.84%	N/A
Max(CAGR)	+9.16%	+13.21%

EZA

-5.00%

Winner

MSSM

+0.14%

EZA

-9.87%

Winner

MSSM

+8.77%

EZA

+0.04%

Winner

MSSM

+13.70%

EZA

+27.17%

Winner

MSSM

+33.00%

5Y(CAGR)

EZA

+7.93%

MSSM

N/A

10Y(CAGR)

EZA

+6.84%

MSSM

N/A

Max(CAGR)

EZA

+9.16%

Winner

MSSM

+13.21%

EZA vs MSSM - Annual Returns (2003 - 2026)

Returns include dividend reinvestment.

Year	EZA	MSSM
2026	-7.25%	+13.20%
2025	+73.49%	+11.21%
2024	+9.82%	-5.83%
2023	-1.59%	N/A
2022	-6.50%	N/A
2021	+7.43%	N/A
2020	-6.02%	N/A
2019	+9.97%	N/A
2018	-25.17%	N/A
2017	+34.76%	N/A
2016	+19.57%	N/A
2015	-24.50%	N/A
2014	+6.87%	N/A
2013	-7.68%	N/A
2012	+17.91%	N/A
2011	-15.89%	N/A
2010	+32.24%	N/A
2009	+47.87%	N/A
2008	-38.47%	N/A
2007	+18.24%	N/A
2006	+13.00%	N/A
2005	+24.77%	N/A
2004	+40.73%	N/A
2003	+47.69%	N/A

EZA vs MSSM Drawdown Comparison

The maximum drawdown for EZA was -64.67%, occurring on Oct 27, 2008. Recovery took 737 trading sessions.

The maximum drawdown for MSSM was -24.18%, occurring on Apr 8, 2025. Recovery took 175 trading sessions.

The current EZA drawdown is -21.12%. The current MSSM drawdown is -3.01%.

Rank	EZA	MSSM
#1	-64.67% Oct 31, 2007 - Oct 5, 2010	-24.18% Dec 9, 2024 - Aug 22, 2025
#2	-62.32% Jan 26, 2018 - May 23, 2025	-9.50% Feb 10, 2026 - Apr 14, 2026
#3	-45.03% Apr 28, 2015 - Dec 21, 2017	-7.11% Oct 27, 2025 - Dec 4, 2025
#4	-29.56% May 9, 2006 - Feb 22, 2007	-4.35% May 6, 2026 - May 26, 2026
#5	-25.94% Apr 29, 2011 - May 14, 2014	-3.84% Oct 6, 2025 - Oct 24, 2025
#6	-23.31% Feb 27, 2026 - Mar 20, 2026	-3.71% Dec 11, 2025 - Jan 6, 2026
#7	-20.25% Jul 23, 2007 - Oct 4, 2007	-3.26% Jan 22, 2026 - Feb 9, 2026
#8	-19.16% Apr 6, 2004 - Sep 16, 2004	-3.01% Jun 4, 2026 - Jun 5, 2026
#9	-18.04% Mar 9, 2005 - Aug 10, 2005	-2.47% Sep 18, 2025 - Oct 3, 2025
#10	-17.71% Sep 5, 2014 - Apr 28, 2015	-2.28% Apr 20, 2026 - Apr 30, 2026
#11	-13.68% Feb 1, 2006 - Apr 3, 2006	-1.63% Jan 15, 2026 - Jan 21, 2026
#12	-13.47% Feb 23, 2007 - Apr 2, 2007	-1.52% Aug 28, 2025 - Sep 5, 2025
#13	-13.40% Jan 3, 2011 - Apr 6, 2011	-1.04% Sep 11, 2025 - Sep 18, 2025
#14	-12.38% Jan 3, 2005 - Feb 24, 2005	-0.79% Jun 2, 2026 - Jun 4, 2026
#15	-11.13% Sep 30, 2005 - Nov 21, 2005	-0.78% May 28, 2026 - Jun 2, 2026

Correlation

Correlation between EZA and MSSM is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81

-101

Dividend Comparison (2003 - 2025)

EZA vs MSSM dividend yield comparison.

Year	EZA	MSSM
2025	6.16%	3.15%
2024	7.26%	0.00%
2023	2.84%	0.00%
2022	3.90%	0.00%
2021	2.05%	0.00%
2020	5.51%	0.00%
2019	12.27%	0.00%
2018	3.81%	0.00%
2017	1.55%	0.00%
2016	4.10%	0.00%
2015	3.03%	0.00%
2014	2.20%	0.00%
2013	2.44%	0.00%
2012	3.01%	0.00%
2011	3.15%	0.00%
2010	2.43%	0.00%
2009	3.70%	0.00%
2008	6.06%	0.00%
2007	2.01%	0.00%
2006	2.18%	0.00%
2005	2.00%	0.00%
2004	1.52%	0.00%
2003	2.42%	0.00%