AFK ETF: What Is It? — Returns, Expense Ratio, Holdings & Alternative ETFs at a Glance
The VanEck Africa Index ETF (AFK) tracks the MVIS GDP Africa Index and offers diversified exposure to listed and Africa-related companies, with a heavy weighting toward South Africa, Egypt, and Nigeria, positioning it as a steady emerging-markets diversifier.
SubscribeWhat Is the VanEck Africa Index ETF?
It is an Africa-focused ETF that tracks the MVIS GDP Africa Index. The fund includes companies domiciled in Africa as well as companies domiciled outside the continent that generate a significant share of their revenue and assets in Africa.
It is well suited to long-term investors seeking diversified exposure to Africa within the broader emerging-markets universe.
The ETF is managed by VanEck using a passive (index-tracking) approach.
How Does the VanEck Africa Index ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | MVIS GDP Africa Index |
| Management Style | Passive (Index Tracking) |
| Rebalancing Cycle | Quarterly |
| Dividend Schedule | Annual |
| Total Expense Ratio | 0.76% |
Country weights are set in line with each country's GDP share, combining locally listed African-domiciled companies with non-African firms that derive a significant portion of their revenue and assets from Africa. Rebalancing is carried out on a quarterly basis per the index methodology.
- One of the few listed ETFs with dedicated Africa exposure
- GDP-weighted methodology for country allocations
VanEck Africa Index ETF Size and Cost (AUM · Expense Ratio)
Assets under management (AUM) stand at $107.0M, with a total expense ratio of 0.76% per year.
Because the number of listed products in the Africa-focused category is limited, there are relatively few directly comparable peer ETFs.
VanEck Africa Index ETF Performance and Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe fund tends to move in tandem with broader emerging-market equities and the cycles of the materials and financials sectors, typically exhibiting wider swings than developed-market indices. It is also highly sensitive to country-specific developments.
Given its narrow Africa-focused mandate, fund flows respond sharply to shifts in investor sentiment toward emerging markets overall, and the category itself is relatively small in scale.
VanEck Africa Index ETF: Strengths and Weaknesses
The standout advantage is diversified Africa exposure that is hard to access through other listed products, while relatively thin liquidity is the main drawback.
Key Strengths
Points to Watch
VanEck Africa Index ETF Alternatives and Related Products
Single-region Africa ETFs are rare, so the comparison table below features other region-focused ETFs such as EZU, VPL, AIA, and ILF. Each tracks a different region — Europe, Asia-Pacific, and Latin America — making them more useful as regional-diversification references than direct substitutes. Investors seeking broader emerging-markets exposure may also consider broad emerging-market index ETFs such as EEM.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 EZU | iShares MSCI EMU ETF | $68.98 | -0.9% | $9.8B | 0.50% | 2.67% | +15.1% |
 VPL | Vanguard FTSE Pacific ETF | $115.81 | -1.6% | $8.8B | 0.07% | 2.61% | +31.2% |
 AIA | iShares Asia 50 ETF | $139.41 | -2.4% | $5.0B | 0.50% | 0.9% | +57.0% |
 ILF | iShares Latin America 40 ETF | $36.22 | +0.2% | $4.0B | 0.47% | 2.69% | +32.0% |
 CGNG | Capital Group New Geography Equity ETF | $36.65 | -1.5% | $3.1B | 0.64% | 0.59% | +21.4% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 BMRC | Bank of Marin Bancorp | - | $27.71 | +1.2% | $448.7M | - | 3.61% |
 NTB | Bank of N T Butterfield & Son Ltd | - | $60.05 | +0.6% | $2.4B | 10.6 | 3.33% |
| AU | AngloGold Ashanti Plc | 0.04% | $103.88 | -4.3% | $52.5B | 13.9 | 4.69% |
| GFI | Gold Fields Ltd ADR | 0.03% | $45.68 | -2.9% | $40.9B | 9.4 | 4.9% |
 GLNG | Golar Lng | 0.03% | $52.69 | +1.4% | $5.4B | 81.3 | 1.71% |
| GFI | Gold Fields Ltd ADR | 0.03% | $45.68 | -2.9% | $40.9B | 9.4 | 4.9% |
 IAG | Iamgold Corp | 0.03% | $20.09 | -2.2% | $11.5B | 10.2 | - |
| B | Barrick Mining Corp | 0.03% | $43.46 | -2.5% | $71.5B | 11.2 | 2.46% |
VanEck Africa Index ETF Investor Checklist
Before investing in AFK, here are the key checkpoints to review. Given its regional focus, liquidity and emerging-market risks should be assessed in advance, and country weightings should be examined alongside them.
| Checkpoint | What to Verify | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check fee level given the niche regional mandate | Top tier within the category |
| 💧 Liquidity | Review average daily volume and bid-ask spreads | Relatively low |
| 🌍 Country Concentration | Track trends in South Africa, Egypt, and Nigeria weightings | Notable single-country concentration |
| 💱 Currency and Political Risk | Monitor emerging-market currency and political volatility | Ongoing monitoring required |
Thin liquidity and the political and currency volatility typical of emerging markets are the main drivers of short-term price swings. Heavy country weightings can also make the fund sensitive to single-country developments.
The product is well suited to investors seeking diversified Africa exposure that is difficult to access through other listed instruments. Given its lower liquidity, investors are advised to carefully consider both the timing and size of their trades.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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