BRF
VanEck Brazil Small-Cap ETF
BRF
VanEck Brazil Small-Cap ETF
-
NAV$17.14
as of November 14, 2025 -
YTD RETURNS54.67%
as of November 14, 2025 -
Total Net Assets$23.14M
as of November 14, 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) | 0.47 | 15.34 | 47.87 | 23.55 | 3.56 | 4.14 | 7.16 | 1.34 |
| BRF (Share Price) | 0.29 | 15.89 | 48.50 | 23.30 | 3.30 | 4.18 | 7.02 | 1.32 |
| MVBRFTR (Index) | 0.39 | 15.29 | 48.27 | 23.93 | 4.82 | 4.86 | 7.81 | 2.00 |
| Performance Differential (NAV - Index) | 0.08 | 0.05 | -0.40 | -0.38 | -1.26 | -0.72 | -0.65 | -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 |
$0.10
/
+0.57%
Fees
Holdings
Daily Holdings (%) as of 11/13/2025
Download XLS|
Ticker
|
Holding Name |
% of Net Assets |
Identifier (FIGI)
|
Shares
|
Asset Class |
Market Value (US$) |
Notional Value |
|---|---|---|---|---|---|---|---|
|
CYRE3 BZ |
Cyrela Brazil Realty Sa Empreendimentos | 4.74 |
BBG000BHPKD3 |
170,350 |
Stock | 1,091,202 | -- |
|
ERO US |
Ero Copper Corp | 4.05 |
BBG00J09YMM8 |
42,240 |
Stock | 930,970 | -- |
|
ALUP11 BZ |
Alupar Investimento Sa | 3.78 |
BBG000PQHMW2 |
135,093 |
Stock | 869,183 | -- |
|
CSMG3 BZ |
Cia De Saneamento De Minas Gerais-Copas | 3.61 |
BBG000M50TV5 |
114,038 |
Stock | 830,784 | -- |
|
DIRR3 BZ |
Direcional Engenharia Sa | 2.83 |
BBG000P8N9L6 |
190,400 |
Stock | 650,065 | -- |
|
IGTI11 BZ |
Iguatemi Sa | 2.79 |
BBG0131XR464 |
129,850 |
Stock | 641,843 | -- |
|
COGN3 BZ |
Cogna Educacao | 2.74 |
BBG000DN7YR3 |
933,900 |
Stock | 631,008 | -- |
|
SAPR11 BZ |
Cia De Saneamento Do Parana | 2.68 |
BBG00JBB34P2 |
91,300 |
Stock | 617,058 | -- |
|
CURY3 BZ |
Cury Construtora E Incorporadora Sa | 2.61 |
BBG00C0463Z3 |
85,750 |
Stock | 601,235 | -- |
|
BRAV3 BZ |
3r Petroleum Oleo E Gas Sa | 2.51 |
BBG00Y4RJKF0 |
208,759 |
Stock | 577,604 | -- |
|
POMO4 BZ |
Marcopolo Sa | 2.23 |
BBG000C0CX36 |
383,240 |
Stock | 513,547 | -- |
|
FLRY3 BZ |
Fleury Sa | 2.13 |
BBG000PRQZM2 |
164,037 |
Stock | 490,707 | -- |
|
VIVA3 BZ |
Vivara Participacoes Sa | 2.09 |
BBG00Q29WNZ6 |
76,500 |
Stock | 479,925 | -- |
|
ARCO US |
Arcos Dorados Holdings Inc | 1.92 |
BBG001LR99L2 |
60,324 |
Stock | 442,175 | -- |
|
AURE3 BZ |
Auren Energia Sa | 1.81 |
BBG00P348290 |
195,200 |
Stock | 415,566 | -- |
|
ORVR3 BZ |
Orizon Valorizacao De Residuos Sa | 1.71 |
BBG00YLW5FR3 |
34,550 |
Stock | 393,398 | -- |
|
UNIP6 BZ |
Unipar Carbocloro Sa | 1.66 |
BBG000C2BCY5 |
30,600 |
Stock | 381,168 | -- |
|
BPAN4 BZ |
Banco Pan Sa | 1.61 |
BBG000RYJY28 |
172,300 |
Stock | 370,716 | -- |
|
MDIA3 BZ |
M Dias Branco Sa | 1.61 |
BBG000BS37N1 |
75,200 |
Stock | 370,575 | -- |
|
ECOR3 BZ |
Ecorodovias Infraestrutura E Logistica | 1.56 |
BBG000QSPZ95 |
196,190 |
Stock | 359,170 | -- |
|
BRAP4 BZ |
Bradespar Sa | 1.56 |
BBG000C25R24 |
104,000 |
Stock | 358,218 | -- |
|
EZTC3 BZ |
Ez Tec Empreendimentos E Participacoes | 1.53 |
BBG000RCQF01 |
94,052 |
Stock | 351,644 | -- |
|
ODPV3 BZ |
Odontoprev Sa | 1.48 |
BBG000QBXR73 |
150,590 |
Stock | 339,637 | -- |
|
AZZA3 BZ |
Arezzo Industria E Comercio Sa | 1.46 |
BBG001BGWLL4 |
60,675 |
Stock | 336,444 | -- |
|
BRSR6 BZ |
Banco Do Estado Do Rio Grande Do Sul Sa | 1.42 |
BBG000QJ32T0 |
121,450 |
Stock | 325,948 | -- |
|
BEEF3 BZ |
Minerva Sa/Brazil | 1.42 |
BBG000Q6CG80 |
274,300 |
Stock | 325,632 | -- |
|
KAR AU |
Karoon Gas Australia Ltd | 1.41 |
BBG000N80D34 |
307,098 |
Stock | 325,117 | -- |
|
SLCE3 BZ |
Slc Agricola Sa | 1.41 |
BBG000R7T985 |
103,700 |
Stock | 323,913 | -- |
|
IRBR3 BZ |
Irb Brasil Resseguros Sa | 1.38 |
BBG000BJ00L1 |
32,923 |
Stock | 316,402 | -- |
|
MGLU3 BZ |
Magazine Luiza Sa | 1.32 |
BBG000PWYLV3 |
177,200 |
Stock | 303,000 | -- |
|
YDUQ3 BZ |
Yduqs Participacoes Sa | 1.31 |
BBG000RPWPQ5 |
118,300 |
Stock | 302,311 | -- |
|
CEAB3 BZ |
C&A Modas Ltda | 1.24 |
BBG00Q883N02 |
88,750 |
Stock | 286,261 | -- |
|
USIM5 BZ |
Usinas Siderurgicas De Minas Gerais Sa | 1.21 |
BBG000K59S31 |
279,200 |
Stock | 277,701 | -- |
|
MRVE3 BZ |
Mrv Engenharia E Participacoes Sa | 1.18 |
BBG000QWT9X3 |
168,700 |
Stock | 272,546 | -- |
|
ITRN US |
Ituran Location And Control Ltd | 1.15 |
BBG000HBTSH5 |
7,157 |
Stock | 265,024 | -- |
|
JHSF3 BZ |
Jhsf Participacoes Sa | 1.14 |
BBG000PGKZ06 |
196,050 |
Stock | 261,970 | -- |
|
ABCB4 BZ |
Banco Abc Brasil Sa | 1.04 |
BBG000QJ56H2 |
54,698 |
Stock | 240,122 | -- |
|
TEND3 BZ |
Construtora Tenda Sa | 0.99 |
BBG000H4NQT8 |
47,800 |
Stock | 228,244 | -- |
|
ALPA4 BZ |
Alpargatas Sa | 0.96 |
BBG000BC1CL9 |
96,850 |
Stock | 221,906 | -- |
|
TTEN3 BZ |
Tres Tentos Agroindustrial Sa | 0.96 |
BBG001XGV714 |
74,650 |
Stock | 219,930 | -- |
|
SMTO3 BZ |
Sao Martinho S/A | 0.95 |
BBG000QVK054 |
85,700 |
Stock | 219,003 | -- |
|
DXCO3 BZ |
Dexco Sa | 0.93 |
BBG000QBDM58 |
211,600 |
Stock | 214,058 | -- |
|
LEVE3 BZ |
Mahle Metal Leve Sa | 0.83 |
BBG000BYQRF8 |
30,100 |
Stock | 191,617 | -- |
|
VINP US |
Vinci Partners Investments Ltd | 0.81 |
BBG00YRJVVX5 |
15,458 |
Stock | 185,496 | -- |
|
SIMH3 BZ |
Simpar Sa | 0.77 |
BBG00BRFV5W1 |
183,200 |
Stock | 177,030 | -- |
|
RECV3 BZ |
Petroreconcavo Sa | 0.75 |
BBG001BJ1DZ5 |
80,900 |
Stock | 171,925 | -- |
|
VAMO3 BZ |
Vamos Locacao De Caminhoes Maquinas E E | 0.73 |
BBG00LBBR3V6 |
246,350 |
Stock | 168,776 | -- |
|
MDNE3 BZ |
Moura Dubeux Engenharia S/A | 0.73 |
BBG000F2F582 |
29,000 |
Stock | 168,632 | -- |
|
MOVI3 BZ |
Movida Participacoes Sa | 0.71 |
BBG00CP5CGT4 |
85,550 |
Stock | 164,369 | -- |
|
VULC3 BZ |
Vulcabras Sa | 0.71 |
BBG000C2H6T8 |
42,900 |
Stock | 162,663 | -- |
|
MYPK3 BZ |
Iochpe Maxion Sa | 0.65 |
BBG000BZPMJ3 |
77,452 |
Stock | 150,125 | -- |
|
HBSA3 BZ |
Hidrovias Do Brasil Sa | 0.64 |
BBG002D7HFJ3 |
203,915 |
Stock | 147,785 | -- |
|
KEPL3 BZ |
Kepler Weber Sa | 0.64 |
BBG000BYJY43 |
77,550 |
Stock | 146,217 | -- |
|
BAK US |
Braskem Sa | 0.60 |
BBG000BDJYK1 |
49,654 |
Stock | 137,542 | -- |
|
SBFG3 BZ |
Grupo Sbf Sa | 0.59 |
BBG003MC9592 |
51,300 |
Stock | 136,614 | -- |
|
LWSA3 BZ |
Lwsa Sa | 0.58 |
BBG000TZV8X2 |
169,700 |
Stock | 133,237 | -- |
|
AFYA US |
Afya Ltd | 0.57 |
BBG00PK9C4C7 |
8,938 |
Stock | 130,942 | -- |
|
INTB3 BZ |
Intelbras Sa Industria De Telecomunicac | 0.56 |
BBG001BJ1JK8 |
55,000 |
Stock | 129,028 | -- |
|
VTEX US |
Vtex | 0.54 |
BBG011M1L5H6 |
31,582 |
Stock | 124,433 | -- |
|
RAPT4 BZ |
Randon Sa Implementos E Participacoes | 0.52 |
BBG000C0L9J2 |
100,800 |
Stock | 118,712 | -- |
|
FESA4 BZ |
Cia Ferro Ligas Da Bahia - Ferbasa | 0.50 |
BBG000BW1ZW2 |
83,300 |
Stock | 114,610 | -- |
|
AGRO3 BZ |
Brasilagro - Co Brasileira De Proprieda | 0.50 |
BBG000P1P859 |
30,750 |
Stock | 113,924 | -- |
|
RANI3 BZ |
Irani Papel E Embalagem Sa | 0.49 |
BBG000C0KBW3 |
70,500 |
Stock | 113,099 | -- |
|
CBAV3 BZ |
Cia Brasileira De Aluminio | 0.49 |
BBG000BZNY36 |
121,050 |
Stock | 112,175 | -- |
|
VLID3 BZ |
Valid Solucoes E Servicos De Seguranca | 0.47 |
BBG000NXBD73 |
26,000 |
Stock | 107,171 | -- |
|
PLPL3 BZ |
Plano & Plano Desenvolvimento Imobiliar | 0.46 |
BBG00W8ZZHK5 |
35,500 |
Stock | 105,459 | -- |
|
PNVL3 BZ |
Dimed Sa Distribuidora Da Medicamentos | 0.45 |
BBG000C09194 |
57,750 |
Stock | 104,634 | -- |
|
PETZ3 BZ |
Pet Center Comercio E Participacoes Sa | 0.45 |
BBG005PTZGL0 |
135,950 |
Stock | 103,147 | -- |
|
FRAS3 BZ |
Fras-Le Sa | 0.45 |
BBG000C1CYG8 |
21,900 |
Stock | 102,423 | -- |
|
MILS3 BZ |
Mills Estruturas E Servicos De | 0.44 |
BBG000QBGBD0 |
43,550 |
Stock | 101,920 | -- |
|
RAIZ4 BZ |
Raizen Sa | 0.43 |
BBG0020BM0M1 |
602,950 |
Stock | 99,004 | -- |
|
GUAR3 BZ |
Guararapes Confeccoes Sa | 0.43 |
BBG000BX7WK4 |
50,850 |
Stock | 98,083 | -- |
|
GRND3 BZ |
Grendene Sa | 0.42 |
BBG000PVXD17 |
108,200 |
Stock | 96,387 | -- |
|
LIGT3 BZ |
Light S?A | 0.41 |
BBG000BND430 |
89,400 |
Stock | 95,332 | -- |
|
ONCO3 BZ |
Oncoclinicas Do Brasil Servicos Medicos | 0.36 |
BBG003PFZTW5 |
241,650 |
Stock | 83,006 | -- |
|
SONDA CI |
Sonda Sa | 0.35 |
BBG000F7R6Y7 |
221,025 |
Stock | 80,901 | -- |
|
LOGG3 BZ |
Log Commercial Properties E Participaco | 0.33 |
BBG001XFGVX5 |
16,300 |
Stock | 75,586 | -- |
|
CAML3 BZ |
Camil Alimentos Sa | 0.30 |
BBG000PRSWS1 |
62,950 |
Stock | 68,315 | -- |
|
TGMA3 BZ |
Tegma Gestao Logistica | 0.29 |
BBG000KLPQD1 |
9,100 |
Stock | 66,192 | -- |
|
TUPY3 BZ |
Tupy Sa | 0.26 |
BBG000C256X6 |
24,200 |
Stock | 59,376 | -- |
|
ARML3 BZ |
Armac Locacao Logistica E Servicos Sa | 0.20 |
BBG00YDGW1Z9 |
56,100 |
Stock | 46,587 | -- |
|
AGRO US |
Adecoagro Sa | 0.20 |
BBG001DCNPK3 |
5,995 |
Stock | 45,802 | -- |
|
BLAU3 BZ |
Blau Farmaceutica Sa | 0.20 |
BBG00FWQBZ94 |
19,350 |
Stock | 44,993 | -- |
|
CSED3 BZ |
Cruzeiro Do Sul Educacional Sa | 0.19 |
BBG002F3XB56 |
37,150 |
Stock | 43,051 | -- |
|
PGMN3 BZ |
Empreendimentos Pague Menos S/A | 0.19 |
BBG001BJ3FF0 |
48,522 |
Stock | 42,584 | -- |
|
BHIA3 BZ |
Grupo Casas Bahia Sa | 0.16 |
BBG000BWXYF9 |
58,800 |
Stock | 37,066 | -- |
|
MATD3 BZ |
Hospital Mater Dei Sa | 0.15 |
BBG001BJ3CQ5 |
38,700 |
Stock | 33,964 | -- |
|
ZAMP3 BZ |
Zamp Sa | 0.13 |
BBG007LNZ7H8 |
41,515 |
Stock | 29,147 | -- |
|
VULC1 BZ |
Vulcabras Sa | 0.03 |
BBG01YBMQMH8 |
6,736 |
Stock | 7,882 | -- |
|
2324825D AU |
Esg Minerals Ltd | 0.00 |
BBG01K8HVYQ1 |
26,308 |
Stock | 687 | -- |
|
OIBR3 BZ |
Oi Sa | 0.00 |
BBG000PJXHR7 |
1 |
Stock | 0 | -- |
|
-USD CASH- |
1.37 |
-- |
316,291 |
Cash Bal | 316,291 | -- | |
|
-CLP CASH- |
0.00 |
-- |
840,844 |
Cash Bal | 904 | -- | |
|
-BRL CASH- |
0.00 |
-- |
461 |
Cash Bal | 87 | -- | |
|
-CAD CASH- |
0.00 |
-- |
2 |
Cash Bal | 2 | -- | |
|
-AUD CASH- |
0.00 |
-- |
0 |
Cash Bal | 0 | -- | |
|
-- |
Other/Cash | -1.13 |
-- |
0 |
Cash | -259,302 | -- |
Portfolio
3-YR Risk Measures as of 10/31/2025
-
Beta vs. S&P 500 Index1.31
-
Correlation vs. S&P 500 Index0.90
-
Volatility (Standard Deviation)27.80
-
Sharpe Ratio0.09
Currency Exposure (%) as of 10/31/2025
| Brazilian Real | 88.23 |
| U.S. Dollar | 9.92 |
| Australian Dollar | 1.44 |
| Chilean Peso | 0.36 |
| Other/Cash | 0.05 |
Sector Weightings (%) as at 10/31/2025
-
Sector
% of Net Assets -
Consumer Discretionary
32.24 -
Utilities
13.59 -
Materials
11.79 -
Industrials
10.72 -
Consumer Staples
8.43 -
Financials
6.03 -
Energy
4.82 -
Real Estate
4.68 -
Health Care
4.34 -
Information Technology
3.31 -
Other/Cash
0.05
Country Weightings (%) as at 10/31/2025
-
Country
% of Net Assets -
Brazil
96.29 -
Australia
1.44 -
Israel
1.23 -
United Kingdom
0.63 -
Chile
0.36 -
Other/Cash
0.05
Distributions
Yields as of 11/14/2025
Annual
2.99%
2.62%
2.62%
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.