VanEck Brazil Small-Cap ETF
ALTAR
Score™		 12.1% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.4x P/Sales
ratio		 0.6x
P/BV
ratio		 0.9x Div.
yield		 2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Brazil Small-Cap ETF objective is replicate as closely as possible the price and yield performance of the VanEck Vectors Brazil Small-Cap Index. The Fund invests in in securitie

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date May 12, 2009
Assets (mns) $21
Currency USD
Expense ratio 66 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 94
Wgt avg mkt cap (mns) $1,101
Large cap (>$10bn) 1.9%
Mid cap ($2-10bn) 3.0%
Small cap (<$2bn) 87.3%
Developed mkts 9.6%
Emerging mkts 90.4%

TOP TEN HOLDINGS
ALUPAR INVESTIMENTO SA-UNIT 4.1 %
BRAVA ENERGIA 3.4 %
CYRELA BRAZIL REALTY 3.1 %
CIA DE SANEAMENTO DO PARANA SA - S 3.1 %
FLEURY SA 2.8 %
CURY CONSTRUTORA E INCORPORADORA S 2.8 %
USINAS SIDER MINAS GER-PF A 2.6 %
SYLVAMO CORPORATION 2.4 %
BRADESPAR SA -PREF 2.4 %
ORIZON VALORIZACAO DE RESIDUOS SA 2.2 %
Total 28.9 %

TOP COUNTRY EXPOSURE
BRAZIL 80.6 %
UNITED STATES 2.4 %
ISRAEL 2.2 %
URUGUAY 2.0 %
AUSTRALIA 1.8 %
CANADA 1.6 %
LUXEMBOURG 0.6 %
BRITAIN 0.5 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
2.5% 12.8% -3.7% 4.8% 1.8%

Market Correlations
versus... Beta R-squared
S&P500 1.19 27%
MSCI EAFE 1.18 41%
MSCI Emg. Mkts. 0.72 32%

Technical Indicators
Recent close $15.93
30d moving avg. $16.45
Annualized volatility 29.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.95%
ADV underlying (mns) $378

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 208 potential alternatives to the VanEck Brazil Small-Cap ETF ETF based on the alternatives' overlap in portfolio holdings with BRF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: BRF Expense: 66 bp ALTAR Score™: 12.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH BRF
Ticker Fund
Name		 Overlap1
vs BRF
(%)		 Expense
ratio
(bp)		 Savings
vs BRF
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs BRF
(%)
SDIV Global X Superdividend ETF 12.0 58 8 13.7 +1.6
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 9.4 80 -14 13.0 +0.9
JIVE JPMorgan International Value ETF 6.6 55 11 8.2 -3.9
DVYE iShares Emerging Markets Dividend ETF 6.0 49 17 17.8 +5.7
WOOD iShares Global Timber & Forestry ETF 3.5 42 24 11.0 -1.1
BRAZ Global X Brazil Active ETF 2.8 75 -9 10.5 -1.6
DEEP Roundhill Acquirers Deep Value ETF 2.6 80 -14 14.9 +2.8
ARGT Global X MSCI Argentina ETF 2.6 59 7 3.3 -8.8
PBJ Invesco Food & Beverage ETF 2.6 57 9 7.8 -4.3
EWX SPDR S&P Emerging Markets Small Cap ETF 2.4 65 1 7.2 -4.9
AVEE Avantis Emerging Markets Small Cap Equity ETF 2.2 42 24 8.4 -3.7
EYLD Cambria Emerging Shareholder Yield ETF 2.1 66 0 9.5 -2.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.0 58 8 9.0 -3.1
CGV Conductor Global Equity Value ETF 2.0 130 -64 8.1 -4.0
PEJ Invesco Leisure and Entertainment ETF 2.0 58 8 0.8 -11.3
CBSE Clough Select Equity ETF 2.0 85 -19 0.4 -11.7
PSCM Invesco S&P SmallCap Materials ETF 1.7 29 37 10.6 -1.5
LITP Sprott Lithium Miners ETF 1.6 65 1 1.4 -10.7
ILIT iShares Lithium Miners and Producers ETF 1.6 47 19 4.5 -7.6
ION ProShares S&P Global Core Battery Metals ETF 1.6 58 8 7.0 -5.1
IZRL ARK Israel Innovative Technology ETF 1.6 49 17 1.4 -10.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.5 70 -4 7.1 -5.0
PBW Invesco WilderHill Clean Energy ETF 1.5 66 0 -3.4 -15.5
CUT Invesco MSCI Global Timber ETF 1.4 61 5 7.9 -4.2
HAIL State Street SPDR S&P Kensho Smart Mobility ETF 1.3 45 21 -1.5 -13.6
REMX VanEck Rare Earth/Strategic Metals ETF 1.3 54 12 3.9 -8.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.2 59 7 9.2 -2.9
VRAI Virtus Real Asset Income ETF 1.0 55 11 8.1 -4.0
DEM WisdomTree Emerging Markets High Dividend Fund 0.9 63 3 10.6 -1.5
SYLD Cambria Shareholder Yield ETF 0.9 59 7 9.7 -2.4
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 0.9 30 36 12.9 +0.8
ITEQ BlueStar Israel Technology ETF 0.9 75 -9 1.3 -10.8
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.9 90 -24 4.2 -7.9
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.7 53 13 5.7 -6.4
DGRS WisdomTree US Smallcap Quality Dividend Growth Fund 0.7 38 28 8.6 -3.5
EMC Global X Emerging Markets Great Consumer ETF 0.7 75 -9 7.8 -4.3
ROSC Hartford Multifactor Small Cap ETF 0.7 34 32 6.8 -5.3
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.7 8 58 6.7 -5.4
FYT First Trust Small Cap Value AlphaDEX Fund 0.6 73 -7 9.0 -3.1
FLBR Franklin FTSE Brazil ETF 0.6 19 47 12.0 -0.1
AVES Avantis Emerging Markets Value ETF 0.6 36 30 9.6 -2.5
GRPZ Invesco S&P SmallCap 600 GARP ETF 0.6 35 31 5.7 -6.4
CCNR ALPS CoreCommodity Natural Resources ETF 0.6 39 27 8.6 -3.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 25 7.4 -4.7
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 33 7.2 -4.9
DSMC Distillate Small/Mid Cash Flow ETF 0.5 55 11 10.1 -2.0
EFRA iShares Environmental Infrastructure and Industrials ETF 0.5 47 19 4.9 -7.2
TTAC FCF US Quality ETF 0.5 59 7 5.8 -6.3
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.5 33 33 6.7 -5.4
VIDI Vident International Equity Strategy ETF 0.5 61 5 8.5 -3.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 28 7.6 -4.5
WBIY WBI Power Factor High Dividend ETF 0.4 100 -34 11.4 -0.7
CARZ First Trust NASDAQ Global Auto Index Fund 0.4 70 -4 2.7 -9.4
SMLV State Street SPDR US Small Cap Low Volatility Index ETF 0.4 12 54 3.2 -8.9
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.4 58 8 -2.1 -14.2
EBIZ Global X E-Commerce ETF 0.4 50 16 4.4 -7.7
SETM Sprott Energy Transition Materials ETF 0.4 65 1 2.2 -9.9
XCNY SPDR S&P Emerging Markets ex-China ETF 0.4 15 51 6.0 -6.1
FLLA Franklin FTSE Latin America ETF 0.4 19 47 10.8 -1.3
XSHQ Invesco S&P SmallCap Quality ETF 0.3 29 37 6.7 -5.4
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 17 9.0 -3.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.3 44 22 9.5 -2.6
FYX First Trust Small Cap Core AlphaDEX Fund 0.3 61 5 5.0 -7.1
DFEV Dimensional Emerging Markets Value ETF 0.3 43 23 10.1 -2.0
HAPS Harbor Human Capital Factor US Small Cap ETF 0.3 60 6 3.2 -8.9
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 31 7.5 -4.6
SCOW Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF 0.3 59 7 8.0 -4.1
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 -4 7.0 -5.1
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.3 80 -14 10.0 -2.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -29 10.5 -1.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.3 58 8 3.9 -8.2
SQLV Royce Quant Small-Cap Quality Value ETF 0.3 60 6 7.2 -4.9
GWX SPDR S&P International Small Cap ETF 0.2 40 26 6.3 -5.8
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.2 47 19 7.3 -4.8
VEGI iShares MSCI Agriculture Producers ETF 0.2 39 27 7.5 -4.6
VWO Vanguard FTSE Emerging Markets ETF 0.2 7 59 9.5 -2.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.2 45 21 9.6 -2.5
RZV Invesco S&P Smallcap 600 Pure Value ETF 0.2 35 31 6.7 -5.4
DES WisdomTree U.S. SmallCap Dividend Fund 0.2 38 28 7.7 -4.4
AVEM Avantis Emerging Markets Equity ETF 0.2 33 33 7.6 -4.5
SAGP Strategas Global Policy Opportunities ETF 0.2 65 1 4.7 -7.4
AVUV Avantis U.S. Small Cap Value ETF 0.2 25 41 7.7 -4.4
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 4 3.3 -8.8
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 27 8.7 -3.4
IEMG iShares Core MSCI Emerging Markets ETF 0.2 9 57 8.8 -3.3
FTRI First Trust Indxx Global Natural Resources Income ETF 0.2 70 -4 6.9 -5.2
LIT Global X Lithium & Battery Tech ETF 0.2 75 -9 6.0 -6.1
RWJ Invesco S&P SmallCap 600 Revenue ETF 0.2 39 27 6.9 -5.2
EIS iShares MSCI Israel ETF 0.2 58 8 7.1 -5.0
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.2 35 31 5.7 -6.4
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 36 6.6 -5.5
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.2 10 56 8.4 -3.7
ISMD Inspire Small/Mid Cap ETF 0.2 54 12 4.8 -7.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.2 29 37 6.3 -5.8
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.2 50 16 5.2 -6.9
EES WisdomTree U.S. SmallCap Fund 0.2 38 28 7.5 -4.6
AFSM First Trust Active Factor Small Cap ETF 0.1 75 -9 5.5 -6.6
CCSO Carbon Collective Climate Solutions US Equity ETF 0.1 35 31 1.0 -11.1
SLYV State Street SPDR S&P 600 Small Cap Value ETF 0.1 15 51 8.7 -3.4
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 34 6.5 -5.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 0.1 10 56 8.7 -3.4
IJS iShares S&P Small-Cap 600 Value ETF 0.1 18 48 8.6 -3.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 54 8.4 -3.7
AVDV Avantis International Small Cap Value ETF 0.1 36 30 8.1 -4.0
RWX SPDR Dow Jones International Real Estate ETF 0.1 59 7 7.0 -5.1
FAB First Trust Multi Cap Value AlphaDEX Fund 0.1 67 -1 8.1 -4.0
SPEM SPDR Portfolio Emerging Markets ETF 0.1 7 59 9.8 -2.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.1 20 46 0.9 -11.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.1 50 16 8.9 -3.2
DISV Dimensional International Small Cap Value ETF 0.1 42 24 8.2 -3.9
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -23 4.4 -7.7
NANR SPDR S&P North American Natural Resources ETF 0.1 35 31 6.5 -5.6
DEHP Dimensional Emerging Markets High Profitability ETF 0.1 41 25 5.3 -6.8
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF 0.1 15 51 6.0 -6.1
VFVA Vanguard U.S. Value Factor ETF 0.1 13 53 8.7 -3.4
FNDA Schwab Fundamental US Small Co. Index ETF 0.1 25 41 6.0 -6.1
IWN iShares Russell 2000 Value ETF 0.1 24 42 4.6 -7.5
XJR iShares ESG Screened S&P Small-Cap ETF 0.1 12 54 6.0 -6.1
VTWV Vanguard Russell 2000 Value ETF 0.1 10 56 4.7 -7.4
VAW Vanguard Materials ETF 0.1 9 57 5.1 -7.0
FMAT Fidelity MSCI Materials Index ETF 0.1 8 58 5.1 -7.0
CSA VictoryShares US Small Cap Volatility Wtd ETF 0.1 35 31 6.7 -5.4
DHS WisdomTree U.S. High Dividend Fund 0.1 38 28 7.8 -4.3
VSGX Vanguard ESG International Stock ETF 0.1 10 56 6.8 -5.3
IJR iShares Core S&P Small Cap ETF 0.1 6 60 6.1 -6.0
VIOO Vanguard S&P Small-Cap 600 ETF 0.1 7 59 6.0 -6.1
SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF 0.1 3 63 6.2 -5.9
AVSC Avantis U.S Small Cap Equity ETF 0.1 25 41 4.4 -7.7
VXUS Vanguard Total International Stock ETF 0.1 5 61 6.8 -5.3
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 59 6.8 -5.3
IPKW Invesco International BuyBack Achievers ETF 0.1 55 11 7.9 -4.2
FSMD Fidelity Small-Mid Multifactor ETF 0.1 15 51 6.6 -5.5
VEXC Vanguard Emerging Markets Ex-China ETF 0.1 7 59 6.0 -6.1
VFQY Vanguard U.S. Quality Factor ETF 0.1 13 53 5.3 -6.8
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 49 17 13.6 +1.5
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.1 9 57 3.6 -8.5
PSC Principal U.S. Small-Cap ETF 0.1 38 28 3.5 -8.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 46 3.9 -8.2
ISCF iShares International SmallCap Equity Factor ETF 0.0 23 43 7.4 -4.7
SCZ iShares MSCI EAFE Small-Cap ETF 0.0 40 26 6.3 -5.8
DFAT Dimensional U.S. Targeted Value ETF 0.0 28 38 8.3 -3.8
DFIS Dimensional International Small Cap ETF 0.0 39 27 6.3 -5.8
IWM iShares Russell 2000 ETF 0.0 19 47 2.6 -9.5
RSSL Global X Russell 2000 ETF 0.0 8 58 2.7 -9.4
AVDS Avantis International Small Cap Equity ETF 0.0 30 36 6.2 -5.9
DFSV Dimensional US Small Cap Value ETF 0.0 31 35 8.4 -3.7
VTWO Vanguard Russell 2000 ETF 0.0 7 59 2.7 -9.4
SCHC Schwab International Small-Cap Equity ETF 0.0 11 55 6.9 -5.2
WSML iShares MSCI World Small-Cap ETF 0.0 15 51 5.4 -6.7
IGE iShares North American Natural Resources ETF 0.0 41 25 5.8 -6.3
RWO SPDR Dow Jones Global Real Estate ETF 0.0 50 16 6.0 -6.1
DFAS Dimensional U.S. Small Cap ETF 0.0 26 40 5.5 -6.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 57 5.0 -7.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.0 33 33 7.3 -4.8
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.0 39 27 3.4 -8.7
GINN Goldman Sachs Innovate Equity ETF 0.0 52 14 3.8 -8.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.0 32 34 8.1 -4.0
SCHA Schwab U.S. Small-Cap ETF 0.0 4 62 4.4 -7.7
ISCV iShares Morningstar Small Cap Value ETF 0.0 6 60 7.4 -4.7
DXIV Dimensional International Vector Equity ETF 0.0 34 32 6.6 -5.5
AVSU Avantis Responsible U.S. Equity ETF 0.0 15 51 5.0 -7.1
ISCG iShares Morningstar Small-Cap Growth ETF 0.0 6 60 2.8 -9.3
PKW Invesco Buyback Achievers ETF 0.0 62 4 7.0 -5.1
ISCB iShares Morningstar Small-Cap ETF 0.0 4 62 5.3 -6.8
DXUV Dimensional US Vector Equity ETF 0.0 28 38 5.2 -6.9
VT Vanguard Total World Stock ETF 0.0 6 60 5.1 -7.0
EBI Longview Advantage ETF 0.0 35 31 5.9 -6.2
SMMD iShares Russell 2500 ETF 0.0 15 51 5.4 -6.7
VXF Vanguard Extended Market ETF 0.0 5 61 3.8 -8.3
DFIC Dimensional International Core Equity 2 ETF 0.0 23 43 6.3 -5.8
VYMI Vanguard International High Dividend Yield ETF 0.0 17 49 7.8 -4.3
VLU State Street SPDR S&P 1500 Value Tilt ETF 0.0 12 54 6.1 -6.0
IPAC iShares Core MSCI Pacific ETF 0.0 9 57 5.6 -6.5
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 27 6.9 -5.2
IEFA iShares Core MSCI EAFE ETF 0.0 7 59 6.1 -6.0
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 4 62 6.9 -5.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.0 29 37 5.6 -6.5
DTD WisdomTree U.S. Total Dividend Fund 0.0 28 38 5.6 -6.5
PRF Invesco FTSE RAFI US 1000 ETF 0.0 34 32 5.5 -6.6
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 41 4.9 -7.2
FESM Fidelity Enhanced Small Cap ETF 0.0 28 38 2.2 -9.9
AVDE Avantis International Equity ETF 0.0 23 43 6.3 -5.8
AVUS Avantis U.S. Equity ETF 0.0 15 51 4.8 -7.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 17 6.2 -5.9
SMLF iShares U.S. SmallCap Equity Factor ETF 0.0 15 51 4.9 -7.2
DFUV Dimensional US Marketwide Value ETF 0.0 22 44 6.0 -6.1
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 48 4.7 -7.4
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 41 6.1 -6.0
VPL Vanguard FTSE Pacific ETF 0.0 7 59 5.5 -6.6
DFAI Dimensional International Core Equity Market ETF 0.0 18 48 6.0 -6.1
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 49 4.7 -7.4
DCOR Dimensional US Core Equity 1 ETF 0.0 14 52 4.6 -7.5
VYM Vanguard High Dividend Yield Index ETF 0.0 6 60 6.0 -6.1
SCHE Schwab Emerging Markets Equity ETF 0.0 11 55 9.8 -2.3
DFAU Dimensional US Core Equity Market ETF 0.0 12 54 4.4 -7.7
VEA Vanguard FTSE Developed Markets ETF 0.0 3 63 6.0 -6.1
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 57 4.3 -7.8
VTI Vanguard Total Stock Market ETF 0.0 3 63 4.2 -7.9
SCHB Schwab U.S. Broad Market ETF 0.0 3 63 4.3 -7.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 63 4.2 -7.9
VTHR Vanguard Russell 3000 ETF 0.0 7 59 4.2 -7.9
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market 0.0 3 63 4.5 -7.6
DFUS Dimensional U.S. Equity ETF 0.0 9 57 4.2 -7.9
IWV iShares Russell 3000 ETF 0.0 20 46 4.1 -8.0
AVUQ Avantis U.S. Quality ETF 0.0 15 51 3.8 -8.3
ACVF American Conservative Values ETF 0.0 75 -9 3.8 -8.3
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 45 3.1 -9.0
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF 0.0 12 54 4.0 -8.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 VanEck Brazil Small-Cap ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.5 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 66 bp
Equals: ALTAR Score 12.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.64 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.