VanEck Brazil Small-Cap ETF
ALTAR
Score™		 11.7% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.8x P/Sales
ratio		 0.7x
P/BV
ratio		 0.9x Div.
yield		 2.8%


  • 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) $22
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 95
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 3.9 %
CYRELA BRAZIL REALTY 3.6 %
FLEURY SA 3.3 %
CURY CONSTRUTORA E INCORPORADORA S 3.0 %
BRAVA ENERGIA 2.8 %
CIA DE SANEAMENTO DO PARANA SA - S 2.8 %
ORIZON VALORIZACAO DE RESIDUOS SA 2.6 %
BRADESPAR SA -PREF 2.3 %
COGNA EDUCACAO S.A. 2.2 %
USINAS SIDER MINAS GER-PF A 2.1 %
Total 28.5 %

TOP COUNTRY EXPOSURE
BRAZIL 78.8 %
UNITED STATES 2.1 %
CANADA 2.0 %
ISRAEL 1.9 %
URUGUAY 1.8 %
AUSTRALIA 1.7 %
LUXEMBOURG 0.7 %
BRITAIN 0.4 %



HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.4% 7.8% -1.6% 3.1% 1.6%

Market Correlations
versus... Beta R-squared
S&P500 1.19 28%
MSCI EAFE 1.20 42%
MSCI Emg. Mkts. 0.65 31%

Technical Indicators
Recent close $16.61
30d moving avg. $16.08
Annualized volatility 29.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.6%
Bid/Ask (% of price) 0.93%
ADV underlying (mns) $378

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 207 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™: 11.7%


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
(%)
SDIV Global X Superdividend ETF 10.1 58 8 13.8 +2.1
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 9.2 80 -14 12.1 +0.4
DVYE iShares Emerging Markets Dividend ETF 5.7 49 17 16.7 +5.0
WOOD iShares Global Timber & Forestry ETF 3.3 42 24 11.1 -0.6
DEEP Roundhill Acquirers Deep Value ETF 2.5 80 -14 14.9 +3.2
PBJ Invesco Food & Beverage ETF 2.5 57 9 8.3 -3.4
ARGT Global X MSCI Argentina ETF 2.5 59 7 3.2 -8.5
BRAZ Global X Brazil Active ETF 2.2 75 -9 9.7 -2.0
EWX SPDR S&P Emerging Markets Small Cap ETF 2.2 65 1 6.6 -5.1
AVEE Avantis Emerging Markets Small Cap Equity ETF 2.2 42 24 7.6 -4.1
EYLD Cambria Emerging Shareholder Yield ETF 2.0 66 0 8.4 -3.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 2.0 58 8 8.4 -3.3
ILIT iShares Lithium Miners and Producers ETF 2.0 47 19 4.3 -7.4
LITP Sprott Lithium Miners ETF 2.0 65 1 1.3 -10.4
ION ProShares S&P Global Core Battery Metals ETF 2.0 58 8 6.4 -5.3
CGV Conductor Global Equity Value ETF 2.0 130 -64 7.6 -4.1
CBSE Clough Select Equity ETF 1.8 85 -19 0.4 -11.3
PEJ Invesco Leisure and Entertainment ETF 1.8 58 8 0.9 -10.8
PSCM Invesco S&P SmallCap Materials ETF 1.7 29 37 10.4 -1.3
IZRL ARK Israel Innovative Technology ETF 1.5 49 17 1.5 -10.2
PBW Invesco WilderHill Clean Energy ETF 1.5 66 0 -3.3 -15.0
REMX VanEck Rare Earth/Strategic Metals ETF 1.5 54 12 3.5 -8.2
CUT Invesco MSCI Global Timber ETF 1.4 61 5 8.2 -3.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.4 70 -4 6.4 -5.3
HAIL State Street SPDR S&P Kensho Smart Mobility ETF 1.2 45 21 -1.5 -13.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.2 59 7 8.3 -3.4
VIDI Vident International Equity Strategy ETF 1.1 61 5 7.9 -3.8
VRAI Virtus Real Asset Income ETF 1.0 55 11 8.2 -3.5
DEM WisdomTree Emerging Markets High Dividend Fund 0.9 63 3 9.8 -1.9
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 0.9 30 36 13.7 +2.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 0.9 90 -24 3.4 -8.3
ITEQ BlueStar Israel Technology ETF 0.9 75 -9 1.3 -10.4
SYLD Cambria Shareholder Yield ETF 0.8 59 7 9.7 -2.0
DEXC Dimensional Emerging Markets ex China Core EquityETF 0.7 53 13 4.9 -6.8
DGRS WisdomTree US Smallcap Quality Dividend Growth Fund 0.7 38 28 8.9 -2.8
CCNR ALPS CoreCommodity Natural Resources ETF 0.7 39 27 7.8 -3.9
ROSC Hartford Multifactor Small Cap ETF 0.7 34 32 7.1 -4.6
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.7 8 58 6.3 -5.4
FLBR Franklin FTSE Brazil ETF 0.6 19 47 11.2 -0.5
AVES Avantis Emerging Markets Value ETF 0.6 36 30 8.9 -2.8
WBIY WBI Power Factor High Dividend ETF 0.6 100 -34 11.6 -0.1
GRPZ Invesco S&P SmallCap 600 GARP ETF 0.6 35 31 5.9 -5.8
FYT First Trust Small Cap Value AlphaDEX Fund 0.6 73 -7 9.4 -2.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.6 41 25 6.8 -4.9
CARZ First Trust NASDAQ Global Auto Index Fund 0.5 70 -4 2.4 -9.3
AVSE Avantis Responsible Emerging Markets Equity ETF 0.5 33 33 6.5 -5.2
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 0.5 58 8 -2.0 -13.7
TTAC FCF US Quality ETF 0.5 59 7 6.0 -5.7
AVXC Avantis Emerging Markets Ex-China Equity ETF 0.5 33 33 5.9 -5.8
EFRA iShares Environmental Infrastructure and Industrials ETF 0.5 47 19 5.2 -6.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.4 38 28 6.8 -4.9
SMLV State Street SPDR US Small Cap Low Volatility Index ETF 0.4 12 54 3.3 -8.4
SETM Sprott Energy Transition Materials ETF 0.4 65 1 1.8 -9.9
FLLA Franklin FTSE Latin America ETF 0.4 19 47 10.4 -1.3
XSHQ Invesco S&P SmallCap Quality ETF 0.3 29 37 6.9 -4.8
XCNY SPDR S&P Emerging Markets ex-China ETF 0.3 15 51 5.5 -6.2
EDIV SPDR S&P Emerging Markets Dividend ETF 0.3 49 17 8.9 -2.8
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.3 44 22 9.2 -2.5
FYX First Trust Small Cap Core AlphaDEX Fund 0.3 61 5 5.2 -6.5
HAPS Harbor Human Capital Factor US Small Cap ETF 0.3 60 6 3.2 -8.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -29 9.4 -2.3
DFAE Dimensional Emerging Core Equity Market ETF 0.3 35 31 6.8 -4.9
EBIZ Global X E-Commerce ETF 0.3 50 16 4.9 -6.8
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 0.3 80 -14 8.7 -3.0
DFEV Dimensional Emerging Markets Value ETF 0.3 43 23 9.0 -2.7
SQLV Royce Quant Small-Cap Quality Value ETF 0.3 60 6 7.4 -4.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.3 58 8 3.6 -8.1
SCOW Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF 0.3 59 7 7.9 -3.8
VEGI iShares MSCI Agriculture Producers ETF 0.3 39 27 7.1 -4.6
JIVE JPMorgan International Value ETF 0.2 55 11 7.8 -3.9
GWX SPDR S&P International Small Cap ETF 0.2 40 26 5.7 -6.0
VWO Vanguard FTSE Emerging Markets ETF 0.2 7 59 9.1 -2.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.2 45 21 9.5 -2.2
RZV Invesco S&P Smallcap 600 Pure Value ETF 0.2 35 31 6.9 -4.8
BSVO EA Bridgeway Omni Small-Cap Value ETF 0.2 47 19 7.3 -4.4
DES WisdomTree U.S. SmallCap Dividend Fund 0.2 38 28 8.0 -3.7
AVEM Avantis Emerging Markets Equity ETF 0.2 33 33 6.9 -4.8
LIT Global X Lithium & Battery Tech ETF 0.2 75 -9 5.6 -6.1
FTAG First Trust Indxx Global Agriculture ETF 0.2 70 -4 6.7 -5.0
AVUV Avantis U.S. Small Cap Value ETF 0.2 25 41 7.8 -3.9
SAGP Strategas Global Policy Opportunities ETF 0.2 65 1 4.9 -6.8
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 4 3.4 -8.3
CCSO Carbon Collective Climate Solutions US Equity ETF 0.2 35 31 1.0 -10.7
EIS iShares MSCI Israel ETF 0.2 58 8 6.7 -5.0
IEMG iShares Core MSCI Emerging Markets ETF 0.2 9 57 8.0 -3.7
RWJ Invesco S&P SmallCap 600 Revenue ETF 0.2 39 27 7.2 -4.5
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 27 7.9 -3.8
FLQS Franklin U.S. Small Cap Multifactor Index ETF 0.2 35 31 5.9 -5.8
FTRI First Trust Indxx Global Natural Resources Income ETF 0.2 70 -4 6.2 -5.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 36 6.2 -5.5
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.2 10 56 8.8 -2.9
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.2 29 37 6.4 -5.3
ISMD Inspire Small/Mid Cap ETF 0.2 54 12 4.9 -6.8
EES WisdomTree U.S. SmallCap Fund 0.2 38 28 7.7 -4.0
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.1 12 54 8.8 -2.9
XC WisdomTree Emerging Markets Ex-China Fund 0.1 32 34 6.5 -5.2
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.1 50 16 4.8 -6.9
AFSM First Trust Active Factor Small Cap ETF 0.1 75 -9 5.5 -6.2
RWX SPDR Dow Jones International Real Estate ETF 0.1 59 7 7.3 -4.4
IJS iShares S&P Small-Cap 600 Value ETF 0.1 18 48 8.7 -3.0
SLYV State Street SPDR S&P 600 Small Cap Value ETF 0.1 15 51 8.8 -2.9
VIOV Vanguard S&P Small-Cap 600 Value ETF 0.1 10 56 8.8 -2.9
AVDV Avantis International Small Cap Value ETF 0.1 36 30 7.4 -4.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.1 50 16 7.9 -3.8
FAB First Trust Multi Cap Value AlphaDEX Fund 0.1 67 -1 8.3 -3.4
SPEM SPDR Portfolio Emerging Markets ETF 0.1 7 59 9.4 -2.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.1 20 46 0.8 -10.9
DEHP Dimensional Emerging Markets High Profitability ETF 0.1 41 25 4.7 -7.0
DISV Dimensional International Small Cap Value ETF 0.1 42 24 7.7 -4.0
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -23 4.3 -7.4
VFVA Vanguard U.S. Value Factor ETF 0.1 13 53 8.8 -2.9
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF 0.1 15 51 6.2 -5.5
NANR SPDR S&P North American Natural Resources ETF 0.1 35 31 5.8 -5.9
FNDA Schwab Fundamental US Small Co. Index ETF 0.1 25 41 6.1 -5.6
CSA VictoryShares US Small Cap Volatility Wtd ETF 0.1 35 31 6.8 -4.9
IWN iShares Russell 2000 Value ETF 0.1 24 42 4.6 -7.1
FMAT Fidelity MSCI Materials Index ETF 0.1 8 58 5.2 -6.5
DHS WisdomTree U.S. High Dividend Fund 0.1 38 28 7.9 -3.8
VTWV Vanguard Russell 2000 Value ETF 0.1 10 56 4.8 -6.9
XJR iShares ESG Screened S&P Small-Cap ETF 0.1 12 54 6.1 -5.6
VAW Vanguard Materials ETF 0.1 9 57 5.2 -6.5
VSGX Vanguard ESG International Stock ETF 0.1 10 56 6.4 -5.3
AVSC Avantis U.S Small Cap Equity ETF 0.1 25 41 4.5 -7.2
VIOO Vanguard S&P Small-Cap 600 ETF 0.1 7 59 6.1 -5.6
IJR iShares Core S&P Small Cap ETF 0.1 6 60 6.3 -5.4
SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF 0.1 3 63 6.3 -5.4
VXUS Vanguard Total International Stock ETF 0.1 5 61 6.5 -5.2
IPKW Invesco International BuyBack Achievers ETF 0.1 55 11 7.7 -4.0
FSMD Fidelity Small-Mid Multifactor ETF 0.1 15 51 6.5 -5.2
IXUS iShares Core MSCI Total International Stock ETF 0.1 7 59 6.5 -5.2
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.1 9 57 3.7 -8.0
VFQY Vanguard U.S. Quality Factor ETF 0.1 13 53 5.4 -6.3
PSC Principal U.S. Small-Cap ETF 0.1 38 28 3.6 -8.1
PXH Invesco FTSE RAFI Emerging Markets ETF 0.1 49 17 13.0 +1.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 46 3.9 -7.8
VEXC Vanguard Emerging Markets Ex-China ETF 0.0 7 59 5.5 -6.2
ISCF iShares International SmallCap Equity Factor ETF 0.0 23 43 7.1 -4.6
SCZ iShares MSCI EAFE Small-Cap ETF 0.0 40 26 6.0 -5.7
DFSV Dimensional US Small Cap Value ETF 0.0 31 35 8.5 -3.2
DFAT Dimensional U.S. Targeted Value ETF 0.0 28 38 8.4 -3.3
AVDS Avantis International Small Cap Equity ETF 0.0 30 36 5.9 -5.8
RSSL Global X Russell 2000 ETF 0.0 8 58 2.7 -9.0
DFIS Dimensional International Small Cap ETF 0.0 39 27 6.0 -5.7
IWM iShares Russell 2000 ETF 0.0 19 47 2.6 -9.1
VTWO Vanguard Russell 2000 ETF 0.0 7 59 2.7 -9.0
RWO SPDR Dow Jones Global Real Estate ETF 0.0 50 16 6.4 -5.3
SCHC Schwab International Small-Cap Equity ETF 0.0 11 55 6.5 -5.2
DFAS Dimensional U.S. Small Cap ETF 0.0 26 40 5.5 -6.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.0 39 27 3.5 -8.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.0 33 33 6.6 -5.1
GINN Goldman Sachs Innovate Equity ETF 0.0 52 14 3.7 -8.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.0 32 34 7.4 -4.3
IGE iShares North American Natural Resources ETF 0.0 41 25 5.3 -6.4
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 57 4.8 -6.9
SCHA Schwab U.S. Small-Cap ETF 0.0 4 62 4.4 -7.3
ISCV iShares Morningstar Small Cap Value ETF 0.0 6 60 7.6 -4.1
DXIV Dimensional International Vector Equity ETF 0.0 34 32 6.4 -5.3
AVSU Avantis Responsible U.S. Equity ETF 0.0 15 51 4.9 -6.8
PKW Invesco Buyback Achievers ETF 0.0 62 4 6.9 -4.8
ISCB iShares Morningstar Small-Cap ETF 0.0 4 62 5.4 -6.3
WSML iShares MSCI World Small-Cap ETF 0.0 15 51 5.3 -6.4
ISCG iShares Morningstar Small-Cap Growth ETF 0.0 6 60 2.8 -8.9
DXUV Dimensional US Vector Equity ETF 0.0 28 38 5.1 -6.6
VT Vanguard Total World Stock ETF 0.0 6 60 4.9 -6.8
SMMD iShares Russell 2500 ETF 0.0 15 51 5.5 -6.2
SFGV Sequoia Global Value ETF 0.0 23 43 7.0 -4.7
VXF Vanguard Extended Market ETF 0.0 5 61 3.7 -8.0
DFIC Dimensional International Core Equity 2 ETF 0.0 23 43 6.1 -5.6
VYMI Vanguard International High Dividend Yield ETF 0.0 17 49 7.6 -4.1
EBI Longview Advantage ETF 0.0 35 31 5.8 -5.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 27 6.6 -5.1
VLU State Street SPDR S&P 1500 Value Tilt ETF 0.0 12 54 6.1 -5.6
FESM Fidelity Enhanced Small Cap ETF 0.0 28 38 2.2 -9.5
AVDE Avantis International Equity ETF 0.0 23 43 6.1 -5.6
AVUS Avantis U.S. Equity ETF 0.0 15 51 4.7 -7.0
IPAC iShares Core MSCI Pacific ETF 0.0 9 57 5.2 -6.5
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.0 49 17 5.9 -5.8
PRF Invesco FTSE RAFI US 1000 ETF 0.0 34 32 5.4 -6.3
DTD WisdomTree U.S. Total Dividend Fund 0.0 28 38 5.6 -6.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.0 29 37 5.6 -6.1
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.0 25 41 4.8 -6.9
SMLF iShares U.S. SmallCap Equity Factor ETF 0.0 15 51 4.9 -6.8
IEFA iShares Core MSCI EAFE ETF 0.0 7 59 5.9 -5.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.0 4 62 6.6 -5.1
DFAI Dimensional International Core Equity Market ETF 0.0 18 48 5.9 -5.8
DFUV Dimensional US Marketwide Value ETF 0.0 22 44 5.8 -5.9
FNDB Schwab Fundamental US Broad Market Index ETF 0.0 25 41 6.0 -5.7
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 48 4.6 -7.1
VPL Vanguard FTSE Pacific ETF 0.0 7 59 4.9 -6.8
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 49 4.6 -7.1
VYM Vanguard High Dividend Yield Index ETF 0.0 6 60 6.0 -5.7
DCOR Dimensional US Core Equity 1 ETF 0.0 14 52 4.5 -7.2
SCHE Schwab Emerging Markets Equity ETF 0.0 11 55 9.3 -2.4
DFAU Dimensional US Core Equity Market ETF 0.0 12 54 4.3 -7.4
VEA Vanguard FTSE Developed Markets ETF 0.0 3 63 5.8 -5.9
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 57 4.1 -7.6
VTI Vanguard Total Stock Market ETF 0.0 3 63 4.1 -7.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.0 3 63 4.1 -7.6
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market 0.0 3 63 4.4 -7.3
SCHB Schwab U.S. Broad Market ETF 0.0 3 63 4.2 -7.5
IWV iShares Russell 3000 ETF 0.0 20 46 4.0 -7.7
VTHR Vanguard Russell 3000 ETF 0.0 7 59 4.1 -7.6
DFUS Dimensional U.S. Equity ETF 0.0 9 57 4.1 -7.6
ACVF American Conservative Values ETF 0.0 75 -9 3.7 -8.0
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF 0.0 12 54 3.9 -7.8
AVUQ Avantis U.S. Quality ETF 0.0 15 51 3.7 -8.0
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 45 3.0 -8.7

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 11.7 %
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.