BRF

VanEck Brazil Small-Cap ETF

Q: What is 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.

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.

Resources

Fact Sheet

Summary Prospectus

REGULATORY DOCUMENTS

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Why BRF

True small-cap exposure to Brazilian companies primarily driven by domestic growth

Access Latin America’s largest economy, supported by a young and growing population

Invest in companies incorporated in or generating at least 50% of their revenues from Brazil

Performance

Performance History:
Average Annual Total Returns* (%)

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	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 05/12/09
BRF (NAV)	-6.50	12.68	12.68	50.60	16.33	2.76	7.83	2.27
BRF (Market Price)	-6.15	14.12	14.12	51.42	16.40	2.96	7.96	2.30
MVBRFTR (Index)	-7.04	11.92	11.92	51.14	16.94	3.36	8.33	2.90
Performance Differential (NAV - Index)	0.54	0.76	0.76	-0.54	-0.61	-0.60	-0.50	-0.63

	1 MO	3 MO	YTD	1 YR	3 YR	5 YR	10 YR	LIFE 05/12/09
BRF (NAV)	-6.50	12.68	12.68	50.60	16.33	2.76	7.83	2.27
BRF (Market Price)	-6.15	14.12	14.12	51.42	16.40	2.96	7.96	2.30
MVBRFTR (Index)	-7.04	11.92	11.92	51.14	16.94	3.36	8.33	2.90
Performance Differential (NAV - Index)	0.54	0.76	0.76	-0.54	-0.61	-0.60	-0.50	-0.63

*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.

Prices as of 04/06/2026

	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	$18.46 $18.46	7,711 819	$-0.01 / -0.06% $-0.00 / -0.01%	+14.35% +15.12%	$0.00 -0.02%	0.76%

Fees

Holdings

Daily Holdings (%) as of 04/06/2026

Download XLS

Total Holdings: 95

Ticker	Holding Name	% of Net Assets	Identifier (FIGI)	Shares	Asset Class	Market Value (US$)	Notional Value
ALUP11 BZ	Alupar Investimento Sa	3.91	BBG000PQHMW2	142,793	Stock	974,790	--
CYRE3 BZ	Cyrela Brazil Realty Sa Empreendimentos	3.47	BBG000BHPKD3	165,450	Stock	864,537	--
SAPR11 BZ	Cia De Saneamento Do Parana	3.30	BBG00JBB34P2	93,100	Stock	823,346	--
BRAV3 BZ	3r Petroleum Oleo E Gas Sa	3.15	BBG00Y4RJKF0	191,359	Stock	784,616	--
CURY3 BZ	Cury Construtora E Incorporadora Sa	2.96	BBG00C0463Z3	105,350	Stock	737,607	--
COGN3 BZ	Cogna Educacao	2.73	BBG000DN7YR3	1,085,610	Stock	681,400	--
POMO4 BZ	Marcopolo Sa	2.46	BBG000C0CX36	506,194	Stock	612,817	--
FLRY3 BZ	Fleury Sa	2.37	BBG000PRQZM2	190,737	Stock	590,071	--
SGML	Sigma Lithium Corp	2.34	BBG00L95H2Y2	40,234	Stock	583,795	--
SLVM	Sylvamo Corp	2.17	BBG0122M8031	13,017	Stock	541,117	--
DIRR3 BZ	Direcional Engenharia Sa	2.06	BBG000P8N9L6	197,900	Stock	514,550	--
AURE3 BZ	Auren Energia Sa	2.02	BBG00P348290	206,300	Stock	502,315	--
ORVR3 BZ	Orizon Valorizacao De Residuos Sa	1.93	BBG00YLW5FR3	34,150	Stock	482,117	--
ITRN	Ituran Location And Control Ltd	1.92	BBG000HBTSH5	9,328	Stock	478,433	--
ARCO	Arcos Dorados Holdings Inc	1.91	BBG001LR99L2	57,125	Stock	476,994	--
BRAP4 BZ	Bradespar Sa	1.89	BBG000C25R24	103,400	Stock	471,384	--
BRSR6 BZ	Banco Do Estado Do Rio Grande Do Sul Sa	1.79	BBG000QJ32T0	128,350	Stock	444,956	--
JHSF3 BZ	Jhsf Participacoes Sa	1.74	BBG000PGKZ06	207,950	Stock	434,404	--
SLCE3 BZ	Slc Agricola Sa	1.72	BBG000R7T985	120,062	Stock	428,822	--
KAR AU	Karoon Gas Australia Ltd	1.72	BBG000N80D34	295,869	Stock	428,153	--
ODPV3 BZ	Odontoprev Sa	1.70	BBG000QBXR73	159,090	Stock	424,463	--
USIM5 BZ	Usinas Siderurgicas De Minas Gerais Sa	1.66	BBG000K59S31	312,400	Stock	414,020	--
VIVA3 BZ	Vivara Participacoes Sa	1.64	BBG00Q29WNZ6	80,800	Stock	408,706	--
IGTI11 BZ	Iguatemi Sa	1.63	BBG0131XR464	75,050	Stock	406,602	--
UNIP6 BZ	Unipar Carbocloro Sa	1.56	BBG000C2BCY5	32,300	Stock	390,032	--
ECOR3 BZ	Ecorodovias Infraestrutura E Logistica	1.49	BBG000QSPZ95	207,390	Stock	371,574	--
IRBR3 BZ	Irb Brasil Resseguros Sa	1.48	BBG000BJ00L1	34,723	Stock	368,718	--
AZZA3 BZ	Arezzo Industria E Comercio Sa	1.47	BBG001BGWLL4	78,475	Stock	365,989	--
HAPV3 BZ	Hapvida Participacoes E Investimentos S	1.46	BBG00K6RD2X4	175,200	Stock	363,606	--
MDIA3 BZ	M Dias Branco Sa	1.43	BBG000BS37N1	79,500	Stock	355,939	--
EZTC3 BZ	Ez Tec Empreendimentos E Participacoes	1.41	BBG000RCQF01	126,400	Stock	350,262	--
SMTO3 BZ	Sao Martinho S/A	1.39	BBG000QVK054	90,600	Stock	346,657	--
MGLU3 BZ	Magazine Luiza Sa	1.35	BBG000PWYLV3	196,630	Stock	337,011	--
CEAB3 BZ	C&A Modas Ltda	1.24	BBG00Q883N02	132,850	Stock	308,758	--
MRVE3 BZ	Mrv Engenharia E Participacoes Sa	1.21	BBG000QWT9X3	196,100	Stock	302,569	--
TEND3 BZ	Construtora Tenda Sa	1.20	BBG000H4NQT8	48,900	Stock	298,947	--
ABCB4 BZ	Banco Abc Brasil Sa	1.18	BBG000QJ56H2	57,898	Stock	295,113	--
MDNE3 BZ	Moura Dubeux Engenharia S/A	1.06	BBG000F2F582	42,900	Stock	264,934	--
YDUQ3 BZ	Yduqs Participacoes Sa	1.05	BBG000RPWPQ5	114,600	Stock	262,112	--
CBAV3 BZ	Cia Brasileira De Aluminio	1.05	BBG000BZNY36	127,850	Stock	260,865	--
BEEF3 BZ	Minerva Sa/Brazil	0.99	BBG000Q6CG80	298,000	Stock	247,848	--
VAMO3 BZ	Vamos Locacao De Caminhoes Maquinas E E	0.96	BBG00LBBR3V6	345,450	Stock	240,322	--
LEVE3 BZ	Mahle Metal Leve Sa	0.92	BBG000BYQRF8	33,500	Stock	229,342	--
TTEN3 BZ	Tres Tentos Agroindustrial Sa	0.90	BBG001XGV714	72,650	Stock	224,329	--
ALPA4 BZ	Alpargatas Sa	0.88	BBG000BC1CL9	97,950	Stock	219,462	--
SIMH3 BZ	Simpar Sa	0.87	BBG00BRFV5W1	98,600	Stock	216,320	--
RECV3 BZ	Petroreconcavo Sa	0.87	BBG001BJ1DZ5	80,000	Stock	215,933	--
MOVI3 BZ	Movida Participacoes Sa	0.86	BBG00CP5CGT4	91,150	Stock	213,791	--
DXCO3 BZ	Dexco Sa	0.84	BBG000QBDM58	215,408	Stock	210,132	--
VULC3 BZ	Vulcabras Sa	0.72	BBG000C2H6T8	54,136	Stock	179,470	--
VINP	Vinci Partners Investments Ltd	0.70	BBG00YRJVVX5	16,466	Stock	173,716	--
PGMN3 BZ	Empreendimentos Pague Menos S/A	0.67	BBG001BJ3FF0	151,389	Stock	167,391	--
FESA4 BZ	Cia Ferro Ligas Da Bahia - Ferbasa	0.63	BBG000BW1ZW2	101,400	Stock	157,044	--
INTB3 BZ	Intelbras Sa Industria De Telecomunicac	0.63	BBG001BJ1JK8	58,100	Stock	156,482	--
GRND3 BZ	Grendene Sa	0.58	BBG000PVXD17	160,100	Stock	144,356	--
RIAA3 BZ	Guararapes Confeccoes Sa	0.57	BBG000BX7WK4	79,450	Stock	142,044	--
AFYA	Afya Ltd	0.57	BBG00PK9C4C7	9,446	Stock	141,596	--
PNVL3 BZ	Dimed Sa Distribuidora Da Medicamentos	0.56	BBG000C09194	49,550	Stock	138,558	--
MILS3 BZ	Mills Estruturas E Servicos De	0.53	BBG000QBGBD0	48,950	Stock	131,743	--
KEPL3 BZ	Kepler Weber Sa	0.53	BBG000BYJY43	84,250	Stock	131,465	--
HBSA3 BZ	Hidrovias Do Brasil Sa	0.53	BBG002D7HFJ3	172,415	Stock	131,337	--
AGRO	Adecoagro Sa	0.49	BBG001DCNPK3	8,067	Stock	122,618	--
MYPK3 BZ	Iochpe Maxion Sa	0.49	BBG000BZPMJ3	69,152	Stock	122,553	--
LWSA3 BZ	Lwsa Sa	0.49	BBG000TZV8X2	165,700	Stock	121,392	--
RANI3 BZ	Irani Papel E Embalagem Sa	0.48	BBG000C0KBW3	65,700	Stock	120,394	--
SBFG3 BZ	Grupo Sbf Sa	0.47	BBG003MC9592	49,600	Stock	118,360	--
AGRO3 BZ	Brasilagro - Co Brasileira De Proprieda	0.47	BBG000P1P859	29,250	Stock	117,090	--
VTEX	Vtex	0.45	BBG011M1L5H6	28,156	Stock	112,906	--
BAK	Braskem Sa	0.41	BBG000BDJYK1	30,609	Stock	101,316	--
RAPT4 BZ	Randon Sa Implementos E Participacoes	0.40	BBG000C0L9J2	99,300	Stock	99,376	--
VLID3 BZ	Valid Solucoes E Servicos De Seguranca	0.40	BBG000NXBD73	25,400	Stock	98,815	--
AUAU3 BZ	Uniao Pet Participacoes Sa	0.38	BBG0118WVSD7	136,350	Stock	95,386	--
PLPL3 BZ	Plano & Plano Desenvolvimento Imobiliar	0.38	BBG00W8ZZHK5	36,200	Stock	94,544	--
LOGG3 BZ	Log Commercial Properties E Participaco	0.37	BBG001XFGVX5	17,300	Stock	93,357	--
LIGT3 BZ	Light S?A	0.36	BBG000BND430	85,000	Stock	90,516	--
CAML3 BZ	Camil Alimentos Sa	0.34	BBG000PRSWS1	66,550	Stock	85,741	--
TFCO4 BZ	Track & Field Co Sa	0.33	BBG00S5067J0	26,600	Stock	81,309	--
ONCO3 BZ	Oncoclinicas Do Brasil Servicos Medicos	0.28	BBG003PFZTW5	251,250	Stock	69,818	--
FRAS3 BZ	Fras-Le Sa	0.27	BBG000C1CYG8	16,000	Stock	68,247	--
TUPY3 BZ	Tupy Sa	0.27	BBG000C256X6	26,900	Stock	67,066	--
RAIZ4 BZ	Raizen Sa	0.27	BBG0020BM0M1	637,150	Stock	66,859	--
TGMA3 BZ	Tegma Gestao Logistica	0.23	BBG000KLPQD1	9,600	Stock	58,204	--
BLAU3 BZ	Blau Farmaceutica Sa	0.22	BBG00FWQBZ94	26,565	Stock	55,184	--
CSED3 BZ	Cruzeiro Do Sul Educacional Sa	0.18	BBG002F3XB56	39,250	Stock	43,780	--
ARML3 BZ	Armac Locacao Logistica E Servicos Sa	0.17	BBG00YDGW1Z9	41,700	Stock	42,623	--
BHIA3 BZ	Grupo Casas Bahia Sa	0.13	BBG000BWXYF9	59,100	Stock	32,501	--
ABCB10 BZ	Banco Abc Brasil Sa	0.08	BBG01Z9WZWP5	3,770	Stock	19,253	--
MOVI1 BZ	Movida Participacoes Sa	0.01	BBG020TZGSR0	16,359	Stock	2,225	--
SIMH1 BZ	Simpar Sa	0.01	BBG020TYTFN1	38,564	Stock	1,349	--
2324825D AU	Esg Minerals Ltd	0.00	BBG01K8HVYQ1	26,308	Stock	728	--
OIBR3 BZ	Oi Sa	0.00	BBG000PJXHR7	1	Stock	0	--
ZAMP3 BZ	Zamp Sa	0.00	BBG007LNZ7H8	41,615	Stock	0	--
-USD CASH-		0.19	--	47,475	Cash Bal	47,475	--
-CAD CASH-		0.00	--	2	Cash Bal	2	--
-BRL CASH-		-0.02	--	-19,348	Cash Bal	-3,760	--
--	Other/Cash	0.46	--	0	Cash	113,418	--

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These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Portfolio

3-YR Risk Measures as of 03/31/2026

Beta vs. S&P 500 Index

Beta is a measure of sensitivity to market movements.

0.99
Correlation vs. S&P 500 Index

Correlation measures the extent of linear association between the ETF performance and the index performance.

0.44
Volatility (Standard Deviation)

Volatility is the annualized standard deviation of monthly returns.

27.37
Sharpe Ratio

Sharpe ratio measures risk-adjusted return, and represents the return less the risk free rate divided by the standard deviation.

0.52

Currency Exposure (%) as of 03/31/2026

Brazilian Real	86.86
U.S. Dollar	10.73
Australian Dollar	1.69
Other/Cash	0.72

Sector Weightings (%) as at 03/31/2026

Sector
% of Net Assets
Consumer Discretionary
31.19
Materials
12.84
Industrials
11.61
Utilities
9.47
Consumer Staples
9.23
Health Care
5.98
Energy
5.66
Financials
5.09
Real Estate
4.63
Information Technology
3.48
n/a
0.10
Other/Cash
0.72

Country Weightings (%) as at 03/31/2026

Country
% of Net Assets
Brazil
91.64
United States
2.24
Israel
1.86
Australia
1.69
United Kingdom
0.46
n/a
1.39
Other/Cash
0.72

Distributions

Yields as of 04/06/2026

Distribution Frequency

Annual

30-Day SEC Yield

5.12%

Distribution Yield

4.81%

12 Month Yield

4.81%

Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Brazil Small-Cap ETF would have been 4.55% on 04/06/26. Distributions may vary from time to time.

Distribution History

Year	Ex-date	Record Date	Payable date	Dividend Income^‡	Short-Term Capital Gains	Long-Term Capital Gains	Return of Capital	Total Distributions
2025	12/22/2025	12/22/2025	12/26/2025	$ 0.8889	--	--	--	$ 0.89
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	$ 0.5571	--	--	$ 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.

Click here to access more detailed yearend tax information

BRF

VanEck Brazil Small-Cap ETF

BRF

VanEck Brazil Small-Cap ETF

About BRF

Resources

Overview

Why BRF

Performance

Performance History:
Average Annual Total Returns* (%)

Prices as of 04/06/2026

Fees

Holdings

Daily Holdings (%) as of 04/06/2026

Portfolio

3-YR Risk Measures as of 03/31/2026

Currency Exposure (%) as of 03/31/2026

Sector Weightings (%) as at 03/31/2026

Country Weightings (%) as at 03/31/2026

Distributions

Yields as of 04/06/2026

Distribution History

Team

Literature

BRF VanEck Brazil Small-Cap ETF

BRF VanEck Brazil Small-Cap ETF

About BRF

Resources

Overview

Why BRF

Performance

Performance History:Average Annual Total Returns* (%)

Prices as of 04/06/2026

Fees

Holdings

Daily Holdings (%) as of 04/06/2026

Portfolio

3-YR Risk Measures as of 03/31/2026

Currency Exposure (%) as of 03/31/2026

Sector Weightings (%) as at 03/31/2026

Country Weightings (%) as at 03/31/2026

Distributions

Yields as of 04/06/2026

Distribution History

Team

Literature

BRF

VanEck Brazil Small-Cap ETF

BRF

VanEck Brazil Small-Cap ETF

Performance History:
Average Annual Total Returns* (%)