Short definitions for terms you will see in our TFSA ETF research. This is education only — not financial advice.
- ETF (exchange-traded fund)
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A basket of assets (shares, bonds, gold, etc.) that trades on a stock exchange like a single share.
ETFs often track an index or theme (e.g. gold, property, world equities).
- TFSA (Tax-Free Savings Account)
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A South African account where growth and withdrawals are tax-free within annual and lifetime contribution limits set by SARS.
- MAX change (on a chart)
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The percentage change shown when the chart timeframe is set to MAX — i.e. over all history the platform displays.
A 10-year MAX and a 1-year MAX are not comparable; always note the timeframe when ranking funds.
- Risk factor
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A label (e.g. conservative, moderate, aggressive) that platforms use to describe how volatile an investment might be.
Higher risk often means larger ups and downs — not guaranteed higher returns.
- TER (total expense ratio)
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The annual cost of running the fund, expressed as a percentage of assets. A TER of 0.25% means roughly R25 per year per R10,000 invested, before other fees.
Lower TER is generally better for long-term buy-and-hold, all else equal. We are not recording TER in the 2026 snapshot yet.
- EAC (effective annual cost)
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A broader South African disclosure that can include TER plus transaction costs, advice fees, and other charges.
Useful for comparing true cost; not yet captured in our manual research workflow.
- Dividend yield
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Income paid to holders, often shown as a percentage of price. Important for income-focused portfolios; less central for pure long-term growth comparisons.
- Bid, ask, and last price
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Bid is what buyers offer; ask is what sellers want; last is the most recent trade.
EasyEquities quotes can be delayed (e.g. 15 minutes). Our snapshot captures are manual and may be outdated.