BRF
VanEck Brazil Small-Cap ETF
BRF
VanEck Brazil Small-Cap ETF
-
NAV$16.85
as of December 05, 2025 -
YTD RETURNS52.00%
as of December 05, 2025 -
Total Net Assets$22.74M
as of December 05, 2025 -
Gross Expense Ratio0.97%
-
Net Expense Ratio0.60%
-
Inception Date05/12/2009
About BRF
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.
Overview
Why BRF
- 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
Performance
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) | 7.41 | 11.97 | 58.83 | 43.13 | 10.37 | 1.21 | 8.16 | 1.77 |
| BRF (Share Price) | 7.48 | 12.14 | 59.60 | 45.52 | 10.29 | 1.12 | 8.11 | 1.75 |
| MVBRFTR (Index) | 7.43 | 11.94 | 59.29 | 43.47 | 11.67 | 1.92 | 8.97 | 2.43 |
| Performance Differential (NAV - Index) | -0.02 | 0.03 | -0.46 | -0.34 | -1.30 | -0.71 | -0.81 | -0.66 |
| 1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 05/12/09 |
|
|---|---|---|---|---|---|---|---|---|
| BRF (NAV) | 3.75 | 5.84 | 47.17 | 13.90 | 6.63 | 3.11 | 8.09 | 1.32 |
| BRF (Share Price) | 4.04 | 5.69 | 48.08 | 13.68 | 6.62 | 3.05 | 7.99 | 1.31 |
| MVBRFTR (Index) | 3.79 | 6.38 | 47.69 | 14.33 | 7.58 | 3.84 | 8.82 | 1.98 |
| Performance Differential (NAV - Index) | -0.04 | -0.54 | -0.52 | -0.43 | -0.95 | -0.73 | -0.73 | -0.66 |
$-1.33
/
-7.34%
Fees
Holdings
Daily Holdings (%) as of 12/04/2025
Download XLS|
Ticker
|
Holding Name |
% of Net Assets |
Identifier (FIGI)
|
Shares
|
Asset Class |
Market Value (US$) |
Notional Value |
|---|---|---|---|---|---|---|---|
|
CYRE3 BZ |
Cyrela Brazil Realty Sa Empreendimentos | 5.02 |
BBG000BHPKD3 |
171,050 |
Stock | 1,232,952 | -- |
|
ERO US |
Ero Copper Corp | 4.34 |
BBG00J09YMM8 |
42,414 |
Stock | 1,065,864 | -- |
|
CSMG3 BZ |
Cia De Saneamento De Minas Gerais-Copas | 3.76 |
BBG000M50TV5 |
114,438 |
Stock | 923,983 | -- |
|
ALUP11 BZ |
Alupar Investimento Sa | 3.58 |
BBG000PQHMW2 |
135,693 |
Stock | 878,727 | -- |
|
COGN3 BZ |
Cogna Educacao | 2.88 |
BBG000DN7YR3 |
937,700 |
Stock | 706,093 | -- |
|
SAPR11 BZ |
Cia De Saneamento Do Parana | 2.77 |
BBG00JBB34P2 |
91,700 |
Stock | 679,975 | -- |
|
IGTI11 BZ |
Iguatemi Sa | 2.75 |
BBG0131XR464 |
130,450 |
Stock | 675,328 | -- |
|
DIRR3 BZ |
Direcional Engenharia Sa | 2.74 |
BBG000P8N9L6 |
191,200 |
Stock | 673,081 | -- |
|
CURY3 BZ |
Cury Construtora E Incorporadora Sa | 2.55 |
BBG00C0463Z3 |
86,150 |
Stock | 626,820 | -- |
|
BRAV3 BZ |
3r Petroleum Oleo E Gas Sa | 2.21 |
BBG00Y4RJKF0 |
209,559 |
Stock | 541,645 | -- |
|
VIVA3 BZ |
Vivara Participacoes Sa | 2.12 |
BBG00Q29WNZ6 |
76,800 |
Stock | 520,477 | -- |
|
POMO4 BZ |
Marcopolo Sa | 1.95 |
BBG000C0CX36 |
384,840 |
Stock | 478,872 | -- |
|
FLRY3 BZ |
Fleury Sa | 1.94 |
BBG000PRQZM2 |
164,737 |
Stock | 477,274 | -- |
|
AURE3 BZ |
Auren Energia Sa | 1.94 |
BBG00P348290 |
196,000 |
Stock | 475,605 | -- |
|
ARCO US |
Arcos Dorados Holdings Inc | 1.88 |
BBG001LR99L2 |
60,572 |
Stock | 462,164 | -- |
|
ORVR3 BZ |
Orizon Valorizacao De Residuos Sa | 1.74 |
BBG00YLW5FR3 |
34,750 |
Stock | 428,156 | -- |
|
ECOR3 BZ |
Ecorodovias Infraestrutura E Logistica | 1.72 |
BBG000QSPZ95 |
196,990 |
Stock | 423,124 | -- |
|
BRAP4 BZ |
Bradespar Sa | 1.66 |
BBG000C25R24 |
104,400 |
Stock | 407,219 | -- |
|
MGLU3 BZ |
Magazine Luiza Sa | 1.59 |
BBG000PWYLV3 |
178,000 |
Stock | 390,377 | -- |
|
BPAN4 BZ |
Banco Pan Sa | 1.59 |
BBG000RYJY28 |
172,700 |
Stock | 389,807 | -- |
|
UNIP6 BZ |
Unipar Carbocloro Sa | 1.54 |
BBG000C2BCY5 |
30,700 |
Stock | 378,545 | -- |
|
EZTC3 BZ |
Ez Tec Empreendimentos E Participacoes | 1.52 |
BBG000RCQF01 |
94,452 |
Stock | 373,039 | -- |
|
MDIA3 BZ |
M Dias Branco Sa | 1.51 |
BBG000BS37N1 |
75,500 |
Stock | 370,532 | -- |
|
BRSR6 BZ |
Banco Do Estado Do Rio Grande Do Sul Sa | 1.40 |
BBG000QJ32T0 |
121,950 |
Stock | 343,211 | -- |
|
ODPV3 BZ |
Odontoprev Sa | 1.38 |
BBG000QBXR73 |
151,190 |
Stock | 338,410 | -- |
|
KAR AU |
Karoon Gas Australia Ltd | 1.35 |
BBG000N80D34 |
308,361 |
Stock | 330,577 | -- |
|
SLCE3 BZ |
Slc Agricola Sa | 1.33 |
BBG000R7T985 |
104,100 |
Stock | 327,465 | -- |
|
AZZA3 BZ |
Arezzo Industria E Comercio Sa | 1.33 |
BBG001BGWLL4 |
60,875 |
Stock | 326,719 | -- |
|
BEEF3 BZ |
Minerva Sa/Brazil | 1.32 |
BBG000Q6CG80 |
275,400 |
Stock | 324,546 | -- |
|
YDUQ3 BZ |
Yduqs Participacoes Sa | 1.30 |
BBG000RPWPQ5 |
118,800 |
Stock | 319,809 | -- |
|
IRBR3 BZ |
Irb Brasil Resseguros Sa | 1.29 |
BBG000BJ00L1 |
33,023 |
Stock | 317,731 | -- |
|
USIM5 BZ |
Usinas Siderurgicas De Minas Gerais Sa | 1.26 |
BBG000K59S31 |
280,300 |
Stock | 309,214 | -- |
|
JHSF3 BZ |
Jhsf Participacoes Sa | 1.22 |
BBG000PGKZ06 |
196,850 |
Stock | 299,793 | -- |
|
MRVE3 BZ |
Mrv Engenharia E Participacoes Sa | 1.20 |
BBG000QWT9X3 |
169,400 |
Stock | 294,342 | -- |
|
ITRN US |
Ituran Location And Control Ltd | 1.15 |
BBG000HBTSH5 |
7,186 |
Stock | 283,416 | -- |
|
ABCB4 BZ |
Banco Abc Brasil Sa | 1.06 |
BBG000QJ56H2 |
54,998 |
Stock | 261,217 | -- |
|
CEAB3 BZ |
C&A Modas Ltda | 1.06 |
BBG00Q883N02 |
89,050 |
Stock | 259,503 | -- |
|
SIMH3 BZ |
Simpar Sa | 1.03 |
BBG00BRFV5W1 |
184,000 |
Stock | 252,513 | -- |
|
TEND3 BZ |
Construtora Tenda Sa | 1.00 |
BBG000H4NQT8 |
48,000 |
Stock | 245,781 | -- |
|
TTEN3 BZ |
Tres Tentos Agroindustrial Sa | 1.00 |
BBG001XGV714 |
74,950 |
Stock | 245,222 | -- |
|
MOVI3 BZ |
Movida Participacoes Sa | 0.90 |
BBG00CP5CGT4 |
85,850 |
Stock | 220,441 | -- |
|
ALPA4 BZ |
Alpargatas Sa | 0.88 |
BBG000BC1CL9 |
97,250 |
Stock | 216,943 | -- |
|
DXCO3 BZ |
Dexco Sa | 0.88 |
BBG000QBDM58 |
212,400 |
Stock | 216,316 | -- |
|
SMTO3 BZ |
Sao Martinho S/A | 0.88 |
BBG000QVK054 |
86,100 |
Stock | 215,410 | -- |
|
VAMO3 BZ |
Vamos Locacao De Caminhoes Maquinas E E | 0.79 |
BBG00LBBR3V6 |
247,350 |
Stock | 193,240 | -- |
|
VINP US |
Vinci Partners Investments Ltd | 0.79 |
BBG00YRJVVX5 |
15,494 |
Stock | 193,055 | -- |
|
LEVE3 BZ |
Mahle Metal Leve Sa | 0.78 |
BBG000BYQRF8 |
30,200 |
Stock | 190,454 | -- |
|
RECV3 BZ |
Petroreconcavo Sa | 0.69 |
BBG001BJ1DZ5 |
81,300 |
Stock | 169,271 | -- |
|
VULC3 BZ |
Vulcabras Sa | 0.69 |
BBG000C2H6T8 |
43,100 |
Stock | 168,439 | -- |
|
LWSA3 BZ |
Lwsa Sa | 0.63 |
BBG000TZV8X2 |
170,400 |
Stock | 153,654 | -- |
|
MDNE3 BZ |
Moura Dubeux Engenharia S/A | 0.62 |
BBG000F2F582 |
29,100 |
Stock | 153,004 | -- |
|
HBSA3 BZ |
Hidrovias Do Brasil Sa | 0.62 |
BBG002D7HFJ3 |
204,715 |
Stock | 151,839 | -- |
|
MYPK3 BZ |
Iochpe Maxion Sa | 0.61 |
BBG000BZPMJ3 |
77,752 |
Stock | 149,004 | -- |
|
BAK US |
Braskem Sa | 0.60 |
BBG000BDJYK1 |
49,858 |
Stock | 148,078 | -- |
|
SBFG3 BZ |
Grupo Sbf Sa | 0.59 |
BBG003MC9592 |
51,500 |
Stock | 145,327 | -- |
|
KEPL3 BZ |
Kepler Weber Sa | 0.59 |
BBG000BYJY43 |
77,950 |
Stock | 143,807 | -- |
|
CBAV3 BZ |
Cia Brasileira De Aluminio | 0.57 |
BBG000BZNY36 |
121,550 |
Stock | 140,495 | -- |
|
INTB3 BZ |
Intelbras Sa Industria De Telecomunicac | 0.57 |
BBG001BJ1JK8 |
55,200 |
Stock | 140,389 | -- |
|
AFYA US |
Afya Ltd | 0.56 |
BBG00PK9C4C7 |
8,975 |
Stock | 136,420 | -- |
|
RAPT4 BZ |
Randon Sa Implementos E Participacoes | 0.53 |
BBG000C0L9J2 |
101,200 |
Stock | 129,547 | -- |
|
VTEX US |
Vtex | 0.52 |
BBG011M1L5H6 |
31,712 |
Stock | 126,848 | -- |
|
PETZ3 BZ |
Pet Center Comercio E Participacoes Sa | 0.49 |
BBG005PTZGL0 |
136,250 |
Stock | 120,808 | -- |
|
PNVL3 BZ |
Dimed Sa Distribuidora Da Medicamentos | 0.49 |
BBG000C09194 |
57,950 |
Stock | 119,346 | -- |
|
RANI3 BZ |
Irani Papel E Embalagem Sa | 0.48 |
BBG000C0KBW3 |
70,800 |
Stock | 118,621 | -- |
|
AGRO3 BZ |
Brasilagro - Co Brasileira De Proprieda | 0.47 |
BBG000P1P859 |
30,950 |
Stock | 116,411 | -- |
|
GRND3 BZ |
Grendene Sa | 0.46 |
BBG000PVXD17 |
108,600 |
Stock | 113,465 | -- |
|
GUAR3 BZ |
Guararapes Confeccoes Sa | 0.46 |
BBG000BX7WK4 |
51,050 |
Stock | 112,440 | -- |
|
FESA4 BZ |
Cia Ferro Ligas Da Bahia - Ferbasa | 0.45 |
BBG000BW1ZW2 |
83,600 |
Stock | 110,165 | -- |
|
PLPL3 BZ |
Plano & Plano Desenvolvimento Imobiliar | 0.45 |
BBG00W8ZZHK5 |
35,600 |
Stock | 109,775 | -- |
|
VLID3 BZ |
Valid Solucoes E Servicos De Seguranca | 0.44 |
BBG000NXBD73 |
26,100 |
Stock | 108,241 | -- |
|
MILS3 BZ |
Mills Estruturas E Servicos De | 0.44 |
BBG000QBGBD0 |
43,750 |
Stock | 107,397 | -- |
|
FRAS3 BZ |
Fras-Le Sa | 0.42 |
BBG000C1CYG8 |
21,900 |
Stock | 103,315 | -- |
|
RAIZ4 BZ |
Raizen Sa | 0.40 |
BBG0020BM0M1 |
605,450 |
Stock | 98,020 | -- |
|
ONCO3 BZ |
Oncoclinicas Do Brasil Servicos Medicos | 0.40 |
BBG003PFZTW5 |
242,650 |
Stock | 97,297 | -- |
|
LIGT3 BZ |
Light S?A | 0.38 |
BBG000BND430 |
89,700 |
Stock | 93,380 | -- |
|
SONDA CI |
Sonda Sa | 0.34 |
BBG000F7R6Y7 |
221,025 |
Stock | 84,426 | -- |
|
LOGG3 BZ |
Log Commercial Properties E Participaco | 0.33 |
BBG001XFGVX5 |
16,400 |
Stock | 81,999 | -- |
|
CAML3 BZ |
Camil Alimentos Sa | 0.28 |
BBG000PRSWS1 |
63,250 |
Stock | 69,497 | -- |
|
TGMA3 BZ |
Tegma Gestao Logistica | 0.26 |
BBG000KLPQD1 |
9,100 |
Stock | 64,463 | -- |
|
TUPY3 BZ |
Tupy Sa | 0.24 |
BBG000C256X6 |
24,300 |
Stock | 58,416 | -- |
|
PGMN3 BZ |
Empreendimentos Pague Menos S/A | 0.23 |
BBG001BJ3FF0 |
48,722 |
Stock | 57,600 | -- |
|
ARML3 BZ |
Armac Locacao Logistica E Servicos Sa | 0.21 |
BBG00YDGW1Z9 |
56,300 |
Stock | 52,357 | -- |
|
AGRO US |
Adecoagro Sa | 0.21 |
BBG001DCNPK3 |
6,020 |
Stock | 50,749 | -- |
|
BLAU3 BZ |
Blau Farmaceutica Sa | 0.20 |
BBG00FWQBZ94 |
19,450 |
Stock | 48,945 | -- |
|
CSED3 BZ |
Cruzeiro Do Sul Educacional Sa | 0.18 |
BBG002F3XB56 |
37,350 |
Stock | 45,000 | -- |
|
BHIA3 BZ |
Grupo Casas Bahia Sa | 0.15 |
BBG000BWXYF9 |
59,000 |
Stock | 37,985 | -- |
|
MATD3 BZ |
Hospital Mater Dei Sa | 0.15 |
BBG001BJ3CQ5 |
38,800 |
Stock | 35,790 | -- |
|
ZAMP3 BZ |
Zamp Sa | 0.11 |
BBG007LNZ7H8 |
41,615 |
Stock | 27,419 | -- |
|
VULC9 BZ |
Vulcabras Sa | 0.11 |
BBG01YBHDTD2 |
6,736 |
Stock | 26,262 | -- |
|
2324825D AU |
Esg Minerals Ltd | 0.00 |
BBG01K8HVYQ1 |
26,308 |
Stock | 696 | -- |
|
OIBR3 BZ |
Oi Sa | 0.00 |
BBG000PJXHR7 |
1 |
Stock | 0 | -- |
|
-BRL CASH- |
0.07 |
-- |
93,135 |
Cash Bal | 17,533 | -- | |
|
-USD CASH- |
0.06 |
-- |
15,384 |
Cash Bal | 15,384 | -- | |
|
-CAD CASH- |
0.00 |
-- |
2 |
Cash Bal | 2 | -- | |
|
-AUD CASH- |
0.00 |
-- |
0 |
Cash Bal | 0 | -- | |
|
-- |
Other/Cash | 0.32 |
-- |
0 |
Cash | 78,715 | -- |
Portfolio
3-YR Risk Measures as of 11/30/2025
-
Beta vs. S&P 500 Index1.30
-
Correlation vs. S&P 500 Index0.93
-
Volatility (Standard Deviation)27.15
-
Sharpe Ratio0.32
Currency Exposure (%) as of 11/30/2025
| Brazilian Real | 87.37 |
| U.S. Dollar | 10.40 |
| Australian Dollar | 1.31 |
| Chilean Peso | 0.35 |
| Other/Cash | 0.57 |
Sector Weightings (%) as at 11/30/2025
-
Sector
% of Net Assets -
Consumer Discretionary
33.50 -
Utilities
12.33 -
Materials
11.78 -
Industrials
11.28 -
Consumer Staples
7.76 -
Financials
6.12 -
Real Estate
4.91 -
Energy
4.24 -
Health Care
4.16 -
Information Technology
3.30 -
n/a
0.03 -
Other/Cash
0.57
Country Weightings (%) as at 11/30/2025
-
Country
% of Net Assets -
Brazil
96.01 -
Australia
1.31 -
Israel
1.21 -
United Kingdom
0.55 -
Chile
0.35 -
Other/Cash
0.57
Distributions
Yields as of 12/05/2025
Annual
3.04%
2.66%
2.66%
Distribution History
| Year | Ex-date |
Record Date |
Payable date |
Dividend Income‡ |
Short-Term Capital Gains |
Long-Term Capital Gains |
Return of Capital |
Total Distributions |
|---|---|---|---|---|---|---|---|---|
| 2024 | 12/23/2024 | 12/23/2024 | 12/24/2024 | $ 0.4483 | -- | -- | -- | $ 0.45 |
| 2023 | 12/18/2023 | 12/19/2023 | 12/22/2023 | $ 0.8824 | -- | -- | -- | $ 0.88 |
| 2022 | 12/19/2022 | 12/20/2022 | 12/23/2022 | $ 0.5553 | -- | -- | $ 0.0018 | $ 0.56 |
| 2021 | 12/20/2021 | 12/21/2021 | 12/27/2021 | $ 0.4877 | -- | -- | -- | $ 0.49 |
| 2020 | 12/21/2020 | 12/22/2020 | 12/28/2020 | $ 0.3529 | -- | -- | -- | $ 0.35 |
| 2019 | 12/23/2019 | 12/24/2019 | 12/30/2019 | $ 0.6972 | -- | -- | -- | $ 0.70 |
| 2018 | 12/27/2018 | 12/28/2018 | 01/03/2019 | $ 0.0680 | -- | -- | -- | $ 0.07 |
| 2018 | 12/20/2018 | 12/21/2018 | 12/27/2018 | $ 0.5110 | -- | -- | -- | $ 0.51 |
| 2017 | 12/18/2017 | 12/19/2017 | 12/22/2017 | $ 1.0630 | -- | -- | -- | $ 1.06 |
| 2016 | 12/19/2016 | 12/21/2016 | 12/23/2016 | $ 0.6760 | -- | -- | -- | $ 0.68 |
| 2015 | 12/21/2015 | 12/23/2015 | 12/28/2015 | $ 0.3990 | -- | -- | -- | $ 0.40 |
| 2014 | 12/22/2014 | 12/24/2014 | 12/29/2014 | $ 0.8920 | -- | -- | -- | $ 0.89 |
| 2013 | 12/27/2013 | 12/31/2013 | 01/03/2014 | $ 0.0180 | -- | -- | -- | $ 0.02 |
| 2013 | 12/23/2013 | 12/26/2013 | 12/30/2013 | $ 0.5300 | -- | -- | -- | $ 0.53 |
| 2012 | 12/24/2012 | 12/27/2012 | 12/31/2012 | $ 0.6160 | -- | $ 0.0250 | -- | $ 0.64 |
| 2011 | 12/23/2011 | 12/28/2011 | 12/30/2011 | $ 1.1180 | $ 0.1970 | $ 3.8170 | -- | $ 5.13 |
| 2010 | 12/23/2010 | 12/28/2010 | 12/30/2010 | $ 0.7840 | $ 1.5500 | $ 1.2410 | -- | $ 3.58 |
| 2009 | 12/23/2009 | 12/28/2009 | 12/30/2009 | $ 0.1990 | $ 0.2520 | -- | -- | $ 0.45 |
‡All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.
Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.
The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.