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
19.8 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) | $20 |
| 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 +
| INTER & CO INC | 14.7 % |
| AMBIPAR PARTICIPACOES E EMPREENDIMENTOS | 4.5 % |
| ALUPAR INVESTIMENTO SA-UNIT | 3.1 % |
| BRAVA ENERGIA | 3.0 % |
| AREZZO INDUSTRIA E COMERCIO | 2.9 % |
| MARCOPOLO SA-PREF | 2.9 % |
| CYRELA BRAZIL REALTY | 2.8 % |
| MODEC INC | 2.7 % |
| MARFRIG ALIMENTOS SA | 2.7 % |
| SANTOS BRASIL PARTICIPACOES SA | 2.6 % |
Constituent Breakdown
| Number of holdings | 101 |
| Herfindahl-Hirschman Index | 371 |
| Wgt avg mkt cap (mns) | $799 |
| Large cap (>$10bn) | 0.0% |
| Mid cap ($2-10bn) | 4.1% |
| Small cap (<$2bn) | 86.4% |
| Developed mkts. | 9.1% |
| Emerging mkts. | 90.9% |
Country Exposure
 |
BRAZIL | 73.3 % |
 |
JAPAN | 2.7 % |
 |
AUSTRALIA | 2.7 % |
 |
URUGUAY | 2.5 % |
 |
LUXEMBOURG | 1.4 % |
 |
BRITAIN | 0.8 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -23.3% | -4.6% | -6.4% | -2.7% | -8.3% | -2.9% | -0.5% | Volatility | 25.6% | 26.4% | 29.6% | 32.2% | 39.1% | 34.4% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.11 | 36% |
| MSCI EAFE | 0.90 | 25% |
| MSCI Emg Mkts | 0.65 | 13% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.59% |
| ADV of underlying (mns) | $368 |
Technical Indicators
| Recent close | $13.53 |
| 30d moving avg. | $14.37 |
| Annualized volatility | 31.9% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 0.3% |
| 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 | 54.4% | -7 bp | +1.3% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 11/15/2024
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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
9.7%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. BRF's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places BRF in the 68th 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. | 64.4 | 44.2 | 108.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .