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BRF
VanEck Vectors Brazil Small-Cap ETF

  • Fund Description

    VanEck Vectors® 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 is comprised of 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
    • Commencement

      05/12/2009
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      MVBRFTR
    • Index Rebalancing

      Quarterly
  •  
    as of 11/22/17

    • 30-Day SEC Yield1

      0.89%
    • Total Net Assets

      $112.5M
    • Number of Holdings

      58
    • Options

      Available
    • Gross Expense Ratio2

      0.69%
    • Net Expense Ratio/TER2

      0.60%
    • Distribution Frequency

      Annual
    • Next Distribution Date

      12/15/2017
  • Portfolio Composition (%)
    as of 11/22/17

    • % of Net Assets
    • Stocks

      100.00
    • Bonds

      0.00
    • Other

      0.00
    • Cash

      0.00
  • Daily HoldingsDaily Holdings (%) as of 11/22/17

    Total Holdings: 58
    Holding Name
    Ticker
    SharesMarket Value
    (US$)
    % of Net
    Assets
    Cvc Brasil Operadora E Agencia De Viage
    CVCB3 BZ
    421,500
    6,026,2845.36
    Smiles Fidelidade Sa
    SMLS3 BZ
    171,750
    4,276,1723.80
    Odontoprev Sa
    ODPV3 BZ
    808,550
    4,195,2123.73
    Cosan Ltd
    CZZ US
    445,831
    4,164,0623.70
    Alupar Investimento Sa
    ALUP11 BZ
    743,337
    4,034,3623.58
    Totvs Sa
    TOTS3 BZ
    386,550
    3,944,1433.50
    Cia De Saneamento Do Parana
    SAPR4 BZ
    954,100
    3,515,2923.12
    Duratex Sa
    DTEX3 BZ
    1,169,875
    3,512,0923.12
    Mrv Engenharia E Participacoes Sa
    MRVE3 BZ
    736,100
    3,164,1072.81
    Iguatemi Empresa De Shopping Centers Sa
    IGTA3 BZ
    262,800
    3,142,7762.79
    Via Varejo Sa
    VVAR11 BZ
    436,900
    3,008,0572.67
    Aes Tiete Energia Sa
    TIET11 BZ
    692,000
    2,918,7452.59
    Cia De Saneamento De Minas Gerais-Copas
    CSMG3 BZ
    210,096
    2,771,8292.46
    Linx Sa
    LINX3 BZ
    398,950
    2,700,9922.40
    Ecorodovias Infraestrutura E Logistica
    ECOR3 BZ
    680,340
    2,679,6672.38
    Grendene Sa
    GRND3 BZ
    315,250
    2,678,9022.38
    Cia Hering
    HGTX3 BZ
    284,700
    2,558,8042.27
    Metalurgica Gerdau Sa
    GOAU4 BZ
    1,631,500
    2,509,6892.23
    Alpargatas Sa
    ALPA4 BZ
    448,855
    2,422,1802.15
    Sonda Sa
    SONDA CI
    1,355,227
    2,394,1322.13
    Cyrela Brazil Realty Sa Empreendimentos
    CYRE3 BZ
    594,850
    2,306,0492.05
    B2w Cia Digital
    BTOW3 BZ
    397,848
    2,218,4921.97
    Iochpe Maxion Sa
    MYPK3 BZ
    309,425
    2,084,3291.85
    Ez Tec Empreendimentos E Participacoes
    EZTC3 BZ
    284,644
    1,995,9691.77
    Cia Energetica De Sao Paulo
    CESP6 BZ
    499,400
    1,987,1301.77
    Arezzo Industria E Comercio Sa
    ARZZ3 BZ
    121,350
    1,845,9921.64
    Marcopolo Sa
    POMO4 BZ
    1,539,550
    1,795,2821.60
    Fii Btg Pactual Corporate Office Fund
    BRCR11 BZ
    55,920
    1,734,2761.54
    Adecoagro Sa
    AGRO US
    175,631
    1,663,2261.48
    Instituto Hermes Pardini Sa
    PARD3 BZ
    163,950
    1,641,8391.46
    Modec Inc
    6269 JP
    66,500
    1,610,7761.43
    Gol Linhas Aereas Inteligentes Sa
    GOL US
    171,275
    1,532,9111.36
    Aliansce Shopping Centers Sa
    ALSC3 BZ
    281,173
    1,506,8451.34
    Light Sa
    LIGT3 BZ
    262,100
    1,394,8751.24
    Eletropaulo Metropolitana Eletricidade
    ELPL4 BZ
    275,450
    1,361,7021.21
    Ser Educacional Sa
    SEER3 BZ
    141,275
    1,327,5751.18
    Randon Sa Implementos E Participacoes
    RAPT4 BZ
    566,100
    1,235,9961.10
    Oi Sa
    OIBR3 BZ
    858,600
    1,235,5491.10
    Br Properties Sa
    BRPR3 BZ
    330,550
    1,149,1951.02
    Magnesita Refratarios Sa
    MAGG3 BZ
    79,150
    1,124,2621.00
    Valid Solucoes E Servicos De Seguranca
    VLID3 BZ
    207,140
    1,124,2251.00
    Marfrig Global Foods Sa
    MRFG3 BZ
    504,250
    1,104,0830.98
    Banco Abc Brasil Sa
    ABCB4 BZ
    213,383
    1,095,9010.97
    Minerva Sa/Brazil
    BEEF3 BZ
    272,150
    982,4540.87
    Mahle-Metal Leve Sa
    LEVE3 BZ
    130,200
    946,9020.84
    Tupy Sa
    TUPY3 BZ
    165,850
    946,4210.84
    Gaec Educacao Sa
    ANIM3 BZ
    123,200
    922,7390.82
    Alliar Medicos A Frente Sa
    AALR3 BZ
    188,050
    922,0540.82
    Wiz Solucoes E Corretagem De Seguros Sa
    WIZS3 BZ
    221,750
    851,4030.76
    Cia De Gas De Sao Paulo - Comgas
    CGAS5 BZ
    51,292
    826,7100.73
    Slc Agricola Sa
    SLCE3 BZ
    113,750
    811,3910.72
    Qgep Participacoes Sa
    QGEP3 BZ
    269,750
    696,0430.62
    Prumo Logistica Sa
    PRML3 BZ
    203,509
    691,1130.61
    Even Construtora E Incorporadora Sa
    EVEN3 BZ
    304,400
    503,1800.45
    Atento Sa
    ATTO US
    37,494
    363,6920.32
    Jsl Sa
    JSLG3 BZ
    143,750
    359,3300.32
    Iochpe Maxion Sa
    MYPK12 BZ
    7,727
    20,8730.02
    Other/Cash
    --
    --
    -2,7870.00
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Important Disclosure

    VanEck only serves professional clients in countries where the funds are registered or where funds can be sold in accordance with local private placement rules. 

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. Distributions may vary from time to time. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Vectors Brazil Small-Cap ETF would have been 0.81% on 11/22/2017.

    2BRF Fees & Expenses: Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses) from exceeding 0.59% of the Fund's average daily net assets per year until at least May 1, 2018. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio".

    3Morningstar Ratings : If applicable, when the ETF is rated three stars or more for any given period. ©Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. 

    4IIV is an abbreviation for the intraday indicative value of an ETF's Shares (and is also known as the Indicative Optimized Portfolio Value or IOPV), and is disseminated every 15 seconds during regular trading hours. The IIV is based on the current market value of the securities and/or cash required to be deposited in exchange for a Creation Unit. The IIV does not necessarily reflect the precise composition of the current portfolio of securities held by the Fund at a particular point in time or the best possible valuation of the current portfolio. Therefore, the IIV should not be viewed as a "real-time" update of the Fund's NAV, which is computed only once a day. The Fund is not involved in, or responsible for, the calculation or dissemination of the IIV and makes no warranty as to its accuracy.

    6The S&P 500® Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

    An investment in the Fund may be subject to risks which include, among others, investing in Brazilian issuers, foreign securities, emerging market issuers, foreign currency, depositary receipts, basic materials sector, consumer discretionary sector, health care sector, utilities sector, small- and medium- capitalization companies, cash transactions, equity securities, market, operational, index tracking, authorized participant concentration, no guarantee of active trading market, trading issues, replication management, fund shares trading, premium/discount risk and liquidity of fund shares and concentration risks, all of which may adversely affect the Fund. Foreign and emerging markets investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, changes in currency exchange rates, unstable governments, and limited trading capacity which may make these investments volatile in price or difficult to trade. Small- and medium-capitalization companies may be subject to elevated risks. The Fund's assets may be concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.

    MVIS Brazil Small-Cap Index is the exclusive property of MV Index Solutions GmbH (a wholly owned subsidiary of the Adviser), which has contracted with Solactive AG to maintain and calculate the Index. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards MV Index Solutions GmbH, Solactive AG has no obligation to point out errors in the Index to third parties. The VanEck Vectors Brazil Small-Cap ETF is not sponsored, endorsed, sold or promoted by MV Index Solutions GmbH and MV Index Solutions GmbH makes no representation regarding the advisability of investing in the Fund.

    The S&P 500 Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2017 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit www.spdji.com. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.

    Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Investors can not invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.

    The "Net Asset Value" (NAV) of a VanEck Vectors Exchange Traded Fund (ETF) 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. VanEck Vectors ETF investors should not expect to buy or sell shares at NAV.

    Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units" and otherwise can be bought and sold only through exchange trading. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown because of differences in timing, the amount invested, and fees and expenses.

    Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus , which contains this and other information, call 800.826.2333 or visit vaneck.com/etfs . Please read the prospectus and summary prospectus carefully before investing.

    This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.