BRF
VanEck Brazil Small-Cap ETF
VanEck Vectors Brazil Small-Cap ETF objective is replicate as closely as possible the price and yield performance of the VanEck Vectors Brazil Small-Cap Index. The Fund invests in in securitie
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
16.7 M
ASSETS UNDER MGMT
66 bp
EXPENSES
Fund Basics
| Fund sponsor | Van Eck Associates Corp |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | May 12, 2009 |
| Assets (mns) | $17 |
| Expense ratio | 66 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| AREZZO INDUSTRIA E COMERCIO | 3.6 % |
| ALUPAR INVESTIMENTO SA-UNIT | 3.4 % |
| BRAVA ENERGIA | 3.3 % |
| CYRELA BRAZIL REALTY | 3.3 % |
| MARFRIG ALIMENTOS SA | 3.0 % |
| MODEC INC | 2.9 % |
| SANTOS BRASIL PARTICIPACOES SA | 2.9 % |
| INTER & CO INC | 2.5 % |
| BANCO PANAMERICANO SA | 2.1 % |
| MARCOPOLO SA-PREF | 2.1 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 173 |
| Wgt avg mkt cap (mns) | $1,011 |
| Large cap (>$10bn) | 1.9% |
| Mid cap ($2-10bn) | 3.0% |
| Small cap (<$2bn) | 87.3% |
| Developed mkts. | 9.6% |
| Emerging mkts. | 90.4% |
Country Exposure
 |
BRAZIL | 77.7 % |
 |
JAPAN | 2.9 % |
 |
URUGUAY | 1.9 % |
 |
AUSTRALIA | 1.1 % |
 |
LUXEMBOURG | 1.1 % |
 |
ISRAEL | 0.8 % |
 |
BRITAIN | 0.6 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 6.8% | -28.4% | -5.8% | -11.9% | -12.6% | -4.4% | -- | -4.5% |
| Dividend Yield | 9.2% | 4.5% | 4.7% | 0.0% | 14.4% | 4.9% | -- | 3.5% |
| Total Returns | 16.0% | -23.9% | -1.1% | -12.0% | 1.7% | 0.5% | -- | -1.0% | Ann. Volatility | 27.8% | 28.1% | 28.5% | 32.2% | 39.5% | 34.5% | -- | 32.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 30% |
| MSCI EAFE | 1.04 | 31% |
| MSCI Emg Mkts | 0.80 | 18% |
Liquidity Measures
| Avg. volume (000) | 14 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.59% |
| ADV of underlying (mns) | $378 |
Technical Indicators
| Recent close | $12.85 |
| 30d moving avg. | $12.45 |
| Annualized volatility | 32.3% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.6% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BRF |
Expenses vs. BRF |
ALTAR Score™ vs. BRF |
|---|---|---|---|---|
| EWZS | iShares MSCI Brazil Small-Cap ETF | 41.9% | -7 bp | +0.3% |
| FEMS | First Trust Emerging Markets Small Cap AlphaDEX Fund | 13.5% | +14 bp | +1.2% |
Risk and Returns: BRF vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2024 | 2025E | Fwd Est | 2026E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/17/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BRF
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
BRF
13.1%
Cat. Avg
10.0%
ALTAR Score™ Calculation
Category Overview
There are 151 funds in the Emerging Equity category, with an average ALTAR Score™
of 10.0% and a standard deviation of
4.2%. BRF's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places BRF in the 77th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BRFSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| BRF (66 bp) Percentile rank | 52 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BRF | 66.0 | 59.3 | 125.3 |
| Peer Avg. | 48.7 | 41.5 | 90.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .