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BRF
VanEck Brazil Small-Cap ETF

Fund Description

VanEck Brazil Small-Cap ETF (BRF®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® Brazil Small-Cap Index (MVBRFTR), which includes securities of small capitalization companies that are incorporated in Brazil or that are incorporated outside of Brazil but have at least 50% of their revenues/related assets in Brazil.

 
 

  • Fund Ticker

    BRF
  • Exchange

    NYSE Arca
  • Inception Date

    05/12/2009
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Index Ticker

    MVBRFTR
  • Index Rebalancing

    Quarterly

  as of 12/08/22

  • 30-Day SEC Yield1

    3.40%
  • Total Net Assets

    $24.4M
  • Number of Holdings

    113
  • Options

    Available
  • Gross Expense Ratio2

    0.84%
  • Net Expense Ratio/TER2

    0.59%
  • Distribution Frequency

    Annual
  • Next Distribution Date

    12/16/2022

Fund Highlights

  • Small Cap Focus
    Small caps may offer greater exposure to domestic growth, less exposure to global cyclicals

  • Largest Economy in Latin America
    Brazil has a vibrant economy with favorable demographics; nearly 40% of the population are under the age of 25

  • Pure Play  
    Companies must be incorporated in, or derive at least 50% of total revenues from Brazil to be added to the index

Trading Information

  • Fund Ticker

    BRF
  • Index Total Return Ticker

    MVBRFTR
  • NAV

    BRFNV
  • Intraday NAV (IIV)4

    BRFIV
  • Shares Outstanding

    1,750,000
  • Estimated Cash

    BRFEU
  • Total Cash

    BRFTC
  • CUSIP

    92189F825
  • ISIN

    US92189F8251
Source: Bloomberg

Fees and Expenses2

  • Management Fee

    0.50%
  • Other Expenses

    0.34%
  • Gross Expense Ratio

    0.84%
  • Fee Waivers and
    Expense Reimbursement

    -0.25%
  • Net Expense Ratio/TER2

    0.59%

2Expenses for BRF are capped contractually at 0.59% until May 1, 2023. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Investment Professionals

  • Portfolio Manager and Head of Equity ETFs
  • Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
  • Joined VanEck in 2005
  • CFA charterholder; member of the CFA Society New York
  • BA, Mathematics and Economics, New York University
  • Analyst for Equity ETFs
  • Joined VanEck in 2018
  • Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
  • BS, Finance, Providence College
  • Analyst for Equity ETFs
  • Joined VanEck in 2019
  • Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
  • BS, Accounting, Hunter College

Prices as of 12/08/22

NAV/
Market
Price
Volume
30-Day Avg./
Last Trading Day
Daily Change
NAV/
Last Price
YTD Change NAV/
Last Price
Premium/
Discount
30-Day
Median
Bid Ask
Spread
NAV
Chart
BRF $13.96
$13.94
24,197
16,016
$-0.35 / -2.42%
$-0.39 / -2.74%
-14.62%
-15.24%
$-0.02
-0.14%
0.40%

Premium/Discount History as of 12/08/22

Calendar Year 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Premium/Discount Charts NAV & Prem/Discount History
BRF Days closed at a premium 35 15 17 7 6
Days closed at NAV 19 11 7 3 4
Days closed at a discount 198 38 38 52 54

Performance History: Average Annual Total Returns* (%)

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/12/09
BRF (NAV) -11.28 -7.29 -9.01 -4.19 -12.78 -5.82 -6.19 -0.04
BRF (Share Price) -11.69 -7.11 -9.60 -4.03 -12.60 -5.79 -6.20 -0.05
MVBRFTR (Index) -11.15 -8.66 -10.31 -4.82 -12.72 -5.57 -5.84 0.49
Performance Differential (NAV - Index) -0.13 1.37 1.30 0.63 -0.06 -0.25 -0.35 -0.53
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/12/09
BRF (NAV) -4.74 9.35 -6.51 -17.80 -11.00 -6.48 -6.57 0.16
BRF (Share Price) -4.62 9.85 -7.17 -17.61 -10.89 -6.50 -6.60 0.15
MVBRFTR (Index) -5.26 9.24 -6.97 -17.79 -10.50 -6.02 -6.01 0.77
Performance Differential (NAV - Index) 0.52 0.11 0.46 -0.01 -0.50 -0.46 -0.56 -0.61

Top 10 Holdings (%) as of 11/30/22

Daily Holdings
Total Holdings: 112
Holding Name
Ticker
Shares
Market Value
(US$)
% of Net
Assets
3r Petroleum Oleo E Gas Sa
RRRP3 BZ
123,350
879,246 3.38
Kinea Indice De Precos Fii
KNIP11 BZ
49,207
870,191 3.34
Alupar Investimento Sa
ALUP11 BZ
158,137
844,722 3.24
Cia De Saneamento Do Parana
SAPR11 BZ
209,100
773,243 2.97
Ero Copper Corp
ERO CN
55,234
699,279 2.69
Br Malls Participacoes Sa
BRML3 BZ
372,450
628,005 2.41
Petroreconcavo Sa
RECV3 BZ
101,200
599,280 2.30
Karoon Gas Australia Ltd
KAR AU
366,748
579,905 2.23
Iguatemi Sa
IGTI11 BZ
147,650
538,321 2.07
Cshg Logistica Fi Imobiliario
HGLG11 BZ
16,227
515,358 1.98
Top 10 Total (%) 26.61
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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%)
as of 11/30/22

Country % of Net Assets
Brazil 86.76
Canada 3.08
Australia 2.23
France 1.62
Portugal 1.27
United States 1.26
Libya 0.74
Italy 0.61
Japan 0.60
Germany 0.57
Chile 0.49
Israel 0.38
United Kingdom 0.25
Other/Cash 0.16

Sector Weightings (%)
as of 11/30/22

Sector % of Net Assets
Consumer Discretionary 18.72
Industrials 11.95
Utilities 10.73
Energy 9.05
Real Estate 7.97
Consumer Staples 7.70
Financials 5.09
Information Technology 5.01
Health Care 4.64
Materials 4.38
Communication Services 1.29
n/a 13.30
Other/Cash 0.16

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