ETF Evaluator:
VanEck Africa ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Focused Region Over the Last Year
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Risk
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Risk
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ETF Details
VanEck Africa ETF Overview
VanEck Africa ETF (AFK) is a passively managed International Equity Focused Region exchange-traded fund (ETF). VanEck launched the ETF in 2008.
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® GDP Africa Index.
The fund normallyinvests at least 80% of its total assets in securities that comprise the fund’s benchmark index. The index includes securities of African companies. African companies generally include local listings of companies that are incorporated in Africa and listings of companies incorporated outside of Africa but that have at least 50% of their revenues/related assets in Africa.
About VanEck Africa ETF (AFK)
There are 2 members of the management team with an average tenure of 9.66 years: Peter Liao (2008) and Ralph Lasta (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MVIS GDP Africa NR USD index with a weighting of 100%. VanEck Africa ETF has 79 securities in its portfolio. The top 10 holdings constitute 36.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VanEck Africa ETF is part of the Equity global asset class and is within the International Equity ETF group. VanEck Africa ETF has 94.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 5.0% There is 94.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VanEck Africa ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $96 million in total assets, which is below the $1 billion average for the Focused Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AFK Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VanEck Africa ETF expense ratio is above average compared to funds in the Focused Region category. VanEck Africa ETF has an expense ratio of 0.76%, which is 47% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VanEck Africa ETF has a portfolio turnover rate of 36%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 26% for the Focused Region category.
Recently, in the month of July 2026, VanEck Africa ETF returned 0.7%, which earned it a grade of C, as the Focused Region category had an average return of 1.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VanEck Africa ETF has a trailing yield of 1.04%, which is below the 5.57% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VanEck Africa ETF Grades
Year to date, the ETF has returned -0.3%, 10.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 27.7% over the past year (grade of C), 19.1% over the past three years (grade of B) and 6.3% per year over the past five years (grade of D) and 5.0% per year over the past 10 years (grade of D).
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AFK Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AFK Return (NAV) | 0.7% | -3.8% | 27.7% | 19.1% | 6.3% | 5.0% |
| AFK Return (Price) | 1.7% | -2.6% | 26.1% | 19.3% | 6.1% | 5.1% |
| NAV +/- Price Return | -0.940% | -1.188% | 1.587% | -0.287% | 0.225% | -0.120% |
| Focused Region Avg | 1.8% | 1.8% | 29.5% | 85.6% | 9.2% | 8.4% |
| AFK Grade (NAV) | C | D | C | B | D | D |
| +/- Category (NAV) | -1.0% | -5.6% | -1.8% | -66.6% | -2.9% | -3.4% |
| AFK Tax-Cost Ratio | na | na | 0.4% | 0.4% | 0.9% | 1.1% |
AFK Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AFK Return (NAV) | -0.3% | 68.5% | 10.7% | -8.4% | -18.3% | 3.8% | 2.3% | 8.6% | -17.7% | 26.1% | 14.0% |
| AFK Return (Price) | -2.3% | 74.7% | 12.1% | -12.1% | -17.3% | 3.0% | 4.4% | 9.8% | -19.5% | 28.2% | 14.3% |
| NAV +/- Price Ret | 6.582% | 0.090% | 0.128% | 0.448% | -0.054% | -0.209% | 0.879% | 13.5% | 10.5% | 8.2% | 2.3% |
| Focused Region Avg | 10.6% | 40.0% | 7.6% | 33.4% | -15.0% | 8.3% | 3.6% | 20.0% | -13.7% | 26.4% | 13.0% |
| AFK Grade (NAV) | F | A | A | F | D | D | C | F | D | C | B |
| +/- Category | -10.9% | 28.5% | 3.2% | -41.8% | -3.3% | -4.5% | -1.3% | -11.3% | -4.0% | -0.3% | 1.0% |
| Risk Measures | |
| Beta: | 1.10 |
| R-Squared: | 63% |
| Standard Deviation: | 19.1% |
| Category Risk Index: | 0.24 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.55 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 97 Mil |
| Share Class Assets: | $ 97 Mil |
| Turnover: | 36.0% |
| Expense Ratio: | 0.76% |
| Index Fund: | Yes |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 18.1 years | |||
| Average Tenure: 9.7 years | |||
| Managers (Year): Liao Peter (2008), Lasta Ralph (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 79 |
| % in Top 10 Holdings: | 36.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.8% |
Portfolio Allocation |
|
| Domestic Stock: | 5.0% |
| Foreign Stock: | 94.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | July 10, 2008 |
Expenses and Fees
| Expense Ratio (%): | 0.76% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.52% |
