VanEck Brazil Small-Cap ETF
ALTAR
Score™		 9.7% info Recommen-
dation		 OVERWEIGHT
2024E    2025E
P/E
ratio		 8.9x P/Sales
ratio		 0.0x
P/BV
ratio		 1.2x Div.
yield		 3.6%


  • 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) $20
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 101
Wgt avg mkt cap (mns) $799
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 4.1%
Small cap (<$2bn) 86.4%
Developed mkts 9.1%
Emerging mkts 90.9%

TOP TEN HOLDINGS
INTER & CO INC 14.7 %
AMBIPAR PARTICIPACOES E EMPREENDIM 4.5 %
ALUPAR INVESTIMENTO SA-UNIT 3.1 %
BRAVA ENERGIA 3.0 %
AREZZO INDUSTRIA E COMERCIO 2.9 %
MARCOPOLO SA-PREF 2.9 %
CYRELA BRAZIL REALTY 2.8 %
MODEC INC 2.7 %
MARFRIG ALIMENTOS SA 2.7 %
SANTOS BRASIL PARTICIPACOES SA 2.6 %
Total 41.9 %

TOP COUNTRY EXPOSURE
BRAZIL 73.3 %
JAPAN 2.7 %
AUSTRALIA 2.7 %
URUGUAY 2.5 %
LUXEMBOURG 1.4 %
BRITAIN 0.8 %
ISRAEL 0.5 %
CHILE 0.4 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-23.3% -4.6% -8.3% -2.9% -0.5%

Market Correlations
versus... Beta R-squared
S&P500 1.11 36%
MSCI EAFE 0.90 25%
MSCI Emg. Mkts. 0.65 13%

Technical Indicators
Recent close $13.61
30d moving avg. $14.37
Annualized volatility 31.9%
Short interest (ETF) 0.3%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.3%
Bid/Ask (% of price) 0.59%
ADV underlying (mns) $368

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 119 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™: 9.7%


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
(%)
EWZS iShares MSCI Brazil Small-Cap ETF 54.4 59 7 10.9 +1.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 7.3 80 -14 12.3 +2.6
BRAZ Global X Brazil Active ETF 7.1 75 -9 10.1 +0.4
FBZ First Trust Brazil AlphaDEX Fund 5.7 80 -14 13.3 +3.6
ARGT Global X MSCI Argentina ETF 3.9 59 7 5.4 -4.3
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.8 90 -24 6.1 -3.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.4 58 8 10.2 +0.5
EATZ AdvisorShares Restaurant ETF 2.2 101 -35 3.2 -6.5
EMM Global X Emerging Markets ex-China ETF 2.1 75 -9 4.2 -5.4
EWX SPDR S&P Emerging Markets Small Cap ETF 2.0 65 1 8.2 -1.5
SDIV Global X Superdividend ETF 1.9 58 8 14.9 +5.2
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.9 70 -4 7.7 -2.0
EYLD Cambria Emerging Shareholder Yield ETF 1.8 66 0 13.2 +3.5
EMC Global X Emerging Markets Great Consumer ETF 1.7 75 -9 4.5 -5.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.7 59 7 11.3 +1.6
DVYE iShares Emerging Markets Dividend ETF 1.5 49 17 18.8 +9.1
PBJ Invesco Food & Beverage ETF 1.4 57 9 6.2 -3.5
WOOD iShares Global Timber & Forestry ETF 1.3 42 24 9.8 +0.1
CGW Invesco S&P Global Water Index ETF 1.2 57 9 4.4 -5.3
FLBR Franklin FTSE Brazil ETF 1.2 19 47 13.2 +3.5
EFRA iShares Environmental Infrastructure and Industrials ETF 1.1 47 19 4.9 -4.8
LITP Sprott Lithium Miners ETF 1.0 65 1 16.9 +7.2
ILIT iShares Lithium Miners and Producers ETF 1.0 47 19 12.3 +2.6
LIMI Themes Lithium & Battery Metal Miners ETF 1.0 35 31 4.7 -5.0
VIDI Vident International Equity Strategy ETF 1.0 61 5 10.2 +0.5
AVES Avantis Emerging Markets Value ETF 0.8 36 30 11.6 +1.9
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.8 7 59 6.7 -3.0
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.8 80 -14 10.8 +1.1
IBUY Amplify Online Retail ETF 0.7 65 1 1.4 -8.3
FLLA Franklin FTSE Latin America ETF 0.7 19 47 13.2 +3.5
RNRG Global X Renewable Energy Producers ETF 0.6 66 0 5.5 -4.2
BGAIX Baron Global Advantage 0.6 75 -9 0.6 -9.1
BIGFX Baron International Growth Retail 0.6 75 -9 3.1 -6.5
XCNY SPDR S&P Emerging Markets ex-China ETF 0.5 15 51 6.3 -3.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.5 41 25 7.4 -2.3
FAN First Trust Global Wind Energy ETF 0.5 60 6 5.5 -4.2
IZRL ARK Israel Innovative Technology ETF 0.5 49 17 1.3 -8.4
DEEP Roundhill Acquirers Deep Value ETF 0.5 80 -14 21.0 +11.3
IWTR iShares MSCI Water Management Multisector ETF 0.5 47 19 5.0 -4.7
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 28 7.8 -1.9
CCNR ALPS CoreCommodity Natural Resources ETF 0.5 39 27 11.0 +1.4
FTRI First Trust Indxx Global Natural Resources Income ETF 0.4 70 -4 9.8 +0.1
AVEM Avantis Emerging Markets Equity ETF 0.4 33 33 8.9 -0.8
AQWA Global X Clean Water ETF 0.4 50 16 4.2 -5.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.4 44 22 10.6 +0.9
DEM WisdomTree Emerging Markets High Dividend Fund 0.4 63 3 18.9 +9.2
HAIL SPDR S&P Kensho Smart Mobility ETF 0.4 45 21 -3.0 -12.7
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 31 7.3 -2.4
CVY Invesco Zacks Multi-Asset Income ETF 0.3 106 -40 9.8 +0.1
VWO Vanguard FTSE Emerging Markets ETF 0.3 8 58 6.9 -2.8
DFEV Dimensional Emerging Markets Value ETF 0.3 43 23 11.1 +1.4
IEMG iShares Core MSCI Emerging Markets ETF 0.3 9 57 7.5 -2.2
CUT Invesco MSCI Global Timber ETF 0.3 61 5 8.4 -1.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -29 10.5 +0.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.3 58 8 4.6 -5.1
GWX SPDR S&P International Small Cap ETF 0.3 40 26 6.5 -3.2
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 27 9.2 -0.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 16 13.0 +3.3
EBIZ Global X E-Commerce ETF 0.2 50 16 2.1 -7.6
LIT Global X Lithium & Battery Tech ETF 0.2 75 -9 9.1 -0.6
AVDV Avantis International Small Cap Value ETF 0.2 36 30 8.1 -1.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 27 4.1 -5.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 36 8.0 -1.7
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 4 3.6 -6.1
PXH Invesco FTSE RAFI Emerging Markets ETF 0.2 49 17 12.2 +2.6
EIS iShares MSCI Israel ETF 0.2 58 8 8.5 -1.2
SMLF iShares U.S. SmallCap Equity Factor ETF 0.2 15 51 4.6 -5.1
SETM Sprott Energy Transition Materials ETF 0.2 65 1 6.0 -3.7
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 27 12.8 +3.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.2 10 56 7.7 -2.0
SPEM SPDR Portfolio Emerging Markets ETF 0.2 7 59 7.3 -2.4
SHPP Pacer Industrials and Logistics ETF 0.1 60 6 9.9 +0.2
VSGX Vanguard ESG International Stock ETF 0.1 12 54 6.8 -2.9
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.1 45 21 5.7 -4.0
RNEM First Trust Emerging Markets Equity Select ETF 0.1 75 -9 7.6 -2.1
RWX SPDR Dow Jones International Real Estate ETF 0.1 59 7 7.4 -2.3
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 34 6.0 -3.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 20 9.3 -0.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.1 33 33 8.2 -1.5
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.1 47 19 5.5 -4.2
VXUS Vanguard Total International Stock ETF 0.1 7 59 7.2 -2.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.1 12 54 7.2 -2.5
SCJ iShares MSCI Japan Small-Cap ETF 0.1 50 16 7.0 -2.7
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 59 7.2 -2.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 54 8.3 -1.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.1 32 34 6.2 -3.5
FDEM Fidelity Emerging Markets Multifactor ETF 0.1 25 41 12.3 +2.6
SCHC Schwab International Small-Cap Equity ETF 0.1 11 55 6.6 -3.1
SCZ iShares MSCI EAFE Small-Cap ETF 0.1 40 26 6.6 -3.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.1 39 27 12.5 +2.8
FILL iShares MSCI Global Energy Producers ETF 0.1 39 27 9.6 -0.1
BKSE BNY Mellon US Small Cap Core Equity ETF 0.1 4 62 4.8 -4.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.1 39 27 7.4 -2.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 17 7.0 -2.7
ISCF iShares International SmallCap Equity Factor ETF 0.1 23 43 9.1 -0.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 57 5.4 -4.3
GINN Goldman Sachs Innovate Equity ETF 0.1 52 14 2.8 -6.9
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -23 4.9 -4.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 27 7.2 -2.5
DFIS Dimensional International Small Cap ETF 0.0 39 27 6.9 -2.8
SCHE Schwab Emerging Markets Equity ETF 0.0 11 55 7.1 -2.6
RWO SPDR Dow Jones Global Real Estate ETF 0.0 50 16 6.1 -3.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 24 8.1 -1.6
VT Vanguard Total World Stock ETF 0.0 7 59 5.5 -4.2
VPL Vanguard FTSE Pacific ETF 0.0 8 58 7.7 -2.0
IPAC iShares Core MSCI Pacific ETF 0.0 9 57 7.2 -2.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 8 58 7.3 -2.4
VYMI Vanguard International High Dividend Yield ETF 0.0 22 44 9.8 +0.1
AVDE Avantis International Equity ETF 0.0 23 43 8.1 -1.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.0 15 51 10.2 +0.6
FNDA Schwab Fundamental US Small Co. Index ETF 0.0 25 41 6.0 -3.7
IEFA iShares Core MSCI EAFE ETF 0.0 7 59 7.1 -2.5
DFIC Dimensional International Core Equity 2 ETF 0.0 23 43 7.7 -2.0
DISV Dimensional International Small Cap Value ETF 0.0 42 24 9.1 -0.5
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 42 6.5 -3.2
DFAI Dimensional International Core Equity Market ETF 0.0 18 48 7.3 -2.4
VEA Vanguard FTSE Developed Markets ETF 0.0 5 61 7.3 -2.4
APIE ActivePassive International Equity ETF 0.0 45 21 8.1 -1.6
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 41 6.8 -2.9

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
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

Content on this tab for subscribers only

VALUATION METRICS
  2023 2024E 2025E
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:

OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.3 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 66 bp
Equals: ALTAR Score 9.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 CATEGORY
AVERAGE		 1.48
 
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.