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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 07/01/22

  • 30-Day SEC Yield1

    2.88%

  • Total Net Assets

    $24.3M

  • Number of Holdings

    107

  • Options

    Available

  • Gross Expense Ratio2

    0.84%

  • Net Expense Ratio/TER2

    0.59%

  • Distribution Frequency

    Annual

  • Next Distribution Date

    12/16/2022
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How to Buy

Key Points

  • 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
  • Portfolio Manager and Analyst for Equity ETFs
  • Joined VanEck in 2007
  • Prior to his current role, held a portfolio administration position at VanEck
  • Previously, Portfolio Analyst at Evaluation Associates
  • BS, Business Administration (concentration in Financial Analysis), State University of New York at Buffalo
  • 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 07/01/22

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 $13.86
$13.80 		7,364
3,097 		$-0.12 / -0.87%
$-0.10 / -0.73% 		-15.24%
-16.11% 		$-0.06
-0.43% 		0.29%

Premium/Discount History as of 07/01/22

Calendar Year 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 35 10 15 17 7
BRF Days closed at NAV 19 1 11 7 3
Days closed at a discount 198 53 38 38 52

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/12/09
BRF (NAV) 2.02 5.21 10.60 -20.36 -3.79 1.35 -3.96 1.47
BRF (Share Price) 2.33 4.71 9.54 -20.47 -3.78 1.39 -3.92 1.43
MVBRFTR (Index) 2.45 4.71 10.30 -19.75 -3.19 2.01 -3.29 2.12
Performance Differential (NAV - Index) -0.43 0.50 0.30 -0.61 -0.60 -0.66 -0.67 -0.65
  1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
05/12/09
BRF (NAV) 16.76 22.75 22.75 5.33 0.15 3.14 -4.73 2.31
BRF (Share Price) 16.27 21.64 21.64 5.43 0.25 3.22 -4.74 2.28
MVBRFTR (Index) 15.59 21.76 21.76 5.59 0.54 3.95 -4.17 2.93
Performance Differential (NAV - Index) 1.17 0.99 0.99 -0.26 -0.39 -0.81 -0.56 -0.62

*Returns less than one year are not annualized.

The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Please call 800.826.2333 or visit vaneck.com for performance current to the most recent month ended.

The "Net Asset Value" (NAV) of a Fund is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF 's intraday trading value. Investors should not expect to buy or sell shares at NAV.

Top 10 Holdings (%) as of 05/31/22 Daily Holdings

Total Holdings: 108
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full data
Holding Name
Ticker
Shares
 Market Value
(US$) 		% of Net
Assets
3r Petroleum Oleo E Gas Sa
RRRP3 BZ
93,250
 956,526 3.02
Alupar Investimento Sa
ALUP11 BZ
159,437
 897,400 2.84
Cia De Saneamento Do Parana
SAPR11 BZ
210,800
 890,208 2.81
Unipar Carbocloro Sa
UNIP6 BZ
40,049
 847,066 2.68
Auren Energia Sa
AURE3 BZ
271,008
 796,051 2.52
Br Malls Participacoes Sa
BRML3 BZ
439,050
 780,628 2.47
Slc Agricola Sa
SLCE3 BZ
65,220
 752,715 2.38
Santos Brasil Participacoes Sa
STBP3 BZ
469,450
 719,108 2.27
Grupo De Moda Soma Sa
SOMA3 BZ
295,583
 705,287 2.23
Arezzo Industria E Comercio Sa
ARZZ3 BZ
41,350
 697,788 2.20
Top 10 Total (%) 25.41
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 05/31/22

  • Country

    % of Net Assets
  • ■

    Brazil

    88.29
  • ■

    Canada

    2.28
  • ■

    Australia

    1.60
  • ■

    France

    1.54
  • ■

    United States

    1.53
  • ■

    Portugal

    1.14
  • ■

    Italy

    0.81
  • ■

    Libya

    0.54
  • ■

    Germany

    0.47
  • ■

    Japan

    0.45
  • ■

    Israel

    0.45
  • ■

    Chile

    0.40
  • ■

    United Kingdom

    0.36
  • ■

    Other/Cash

    0.14

Sector Weightings (%) as of 05/31/22

  • Sector

    % of Net Assets
  • ■

    Consumer Discretionary

    22.6
  • ■

    Industrials

    11.7
  • ■

    Consumer Staples

    10.4
  • ■

    Utilities

    9.1
  • ■

    Real Estate

    7.7
  • ■

    Energy

    6.9
  • ■

    Materials

    5.9
  • ■

    Financials

    5.3
  • ■

    Health Care

    4.6
  • ■

    Information Technology

    4.0
  • ■

    Communication Services

    2.6
  • ■

    n/a

    9.1
  • ■

    Other/Cash

    0.1