VanEck Vectors Brazil Small-Cap ETF
ALTAR
Score™
3.1% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
14.4x P/Sales
ratio
1.0x
P/BV
ratio
1.7x Div.
yield
3.2%


  • 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) $51
Currency USD
Expense ratio 63 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 77
Wgt avg mkt cap (mns) $1,126
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 7.0%
Small cap (<$2bn) 85.9%
Developed mkts 8.2%
Emerging mkts 91.8%

TOP TEN HOLDINGS
TERNA PARTICIPACOES S.A-UNIT 4.3 %
CIA DE SANEAMENTO DO PARANA SA - S 3.7 %
CYRELA BRAZIL REALTY 3.4 %
ALUPAR INVESTIMENTO SA-UNIT 3.3 %
OI S.A. SPONSORED ADR 3.2 %
QUALICORP SA 2.9 %
FLEURY SA 2.9 %
COMPANHIA DE LOCACAO DAS AMERICAS 2.8 %
EZ TEC EMPREENDIMENTOS E PAR 2.8 %
RHI MAGNESITA NV 2.7 %
Total 32.0 %

TOP COUNTRY EXPOSURE
BRAZIL 83.1 %
AUSTRIA 2.7 %
CANADA 2.4 %
URUGUAY 1.1 %
UNITED STATES 0.9 %
CHILE 0.8 %
JAPAN 0.8 %
LUXEMBOURG 0.5 %
ISRAEL 0.4 %


HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-32.8% -24.2% 9.0% -4.8% 0.9%

Market Correlations
versus... Beta R-squared
S&P500 1.15 27%
MSCI EAFE 1.56 41%
MSCI Emg. Mkts. 1.34 50%

Technical Indicators
Recent close $17.81
30d moving avg. $18.04
Annualized volatility 38.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.4%
Bid/Ask (% of price) 0.58%
ADV underlying (mns) $548

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the VanEck Vectors 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: 63 bp ALTAR Score™: 3.1%


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
(%)
EWZS iShares MSCI Brazil Small-Cap ETF 55.4 59 4 4.3 +1.3
FBZ First Trust Brazil AlphaDEX Fund 10.1 80 -17 6.7 +3.6
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 5.5 80 -17 17.9 +14.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 4.3 69 -6 7.6 +4.6
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 4.1 63 0 12.5 +9.4
FLBR Franklin FTSE Brazil ETF 3.6 19 44 5.2 +2.1
EWX SPDR S&P Emerging Markets Small Cap ETF 3.0 65 -2 6.0 +2.9
DVYE iShares Emerging Markets Dividend ETF 3.0 49 14 16.4 +13.3
FLLA Franklin FTSE Latin America ETF 2.5 19 44 6.6 +3.5
COPX Global X Copper Miners ETF 1.8 65 -2 6.3 +3.2
AGT iShares MSCI Argentina & Global Exposure ETF A 1.6 59 4 4.8 +1.7
ARGT Global X MSCI Argentina ETF 1.6 60 3 4.8 +1.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 1.5 50 13 10.3 +7.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.2 44 19 8.9 +5.8
AWAY ETFMG Travel Tech ETF 1.2 75 -12 0.5 -2.5
EDUT Global X Education ETF 1.2 50 13 1.3 -1.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.1 59 4 10.8 +7.8
DEM WisdomTree Emerging Markets High Dividend Fund 0.9 63 0 14.0 +10.9
AVEM Avantis Emerging Markets Equity ETF 0.9 33 30 8.7 +5.6
XSD SPDR S&P Semiconductor ETF 0.9 35 28 3.7 +0.7
JETS US Global Jets ETF 0.9 60 3 2.8 -0.3
ECH iShares MSCI Chile ETF 0.8 59 4 8.0 +4.9
CALF Pacer US Small Cap Cash Cows 100 ETF 0.8 59 4 10.1 +7.0
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.7 11 52 6.4 +3.4
KMED KraneShares Emerging Markets Healthcare Index ETF 0.7 79 -16 2.0 -1.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.6 95 -32 9.2 +6.1
BATT Amplify Advanced Battery Metals & Materials ETF 0.6 72 -9 2.2 -0.8
REMX VanEck Vectors Rare Earth/Strategic Metals ETF 0.6 60 3 1.5 -1.5
SDIV Global X SuperDividend ETF 0.6 59 4 13.1 +10.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 0.6 40 23 7.2 +4.1
ROAM Hartford Multifactor Emerging Markets ETF 0.5 44 19 14.4 +11.4
CROP IQ Global Agribusiness Small Cap ETF 0.5 76 -13 4.8 +1.8
XCEM Columbia EM Core ex-China ETF 0.5 16 47 7.0 +4.0
EYLD Cambria Emerging Shareholder Yield ETF 0.5 66 -3 17.1 +14.1
VEGI iShares MSCI Global Agriculture Producers ETF 0.5 39 24 5.5 +2.5
IFLY ETFMG Drone Economy Strategy ETF 0.5 68 -5 2.1 -1.0
VWO Vanguard FTSE Emerging Markets ETF 0.5 10 53 8.0 +4.9
IEMG iShares Core MSCI Emerging Markets ETF 0.5 13 50 7.8 +4.7
CUT Invesco MSCI Global Timber ETF 0.5 61 2 8.7 +5.6
GBUY Goldman Sachs Motif New Age Consumer ETF 0.4 50 13 1.8 -1.3
VIDI Vident International Equity Fund 0.4 59 4 10.9 +7.8
IPKW Invesco International BuyBack Achievers ETF 0.4 55 8 8.2 +5.2
BUY USCF SummerHaven SHPEI Index Fund 0.4 80 -17 8.5 +5.4
RNEM Emerging Markets Equity Select ETF 0.4 75 -12 11.4 +8.3
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 0.4 10 53 9.2 +6.1
PSCT Invesco S&P SmallCap Information Technology ETF 0.4 29 34 5.3 +2.2
SSLY Syntax Stratified SmallCap ETF 0.4 30 33 5.9 +2.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 0.4 45 18 9.3 +6.3
ITEQ BlueStar Israel Technology ETF 0.4 75 -12 1.5 -1.6
IZRL ARK Israel Innovative Technology ETF 0.4 49 14 1.4 -1.7
SQLV Legg Mason Small-Cap Quality Value 0.4 62 1 7.2 +4.2
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 24 6.8 +3.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 49 14 7.6 +4.6
ISEM Invesco Strategic Emerging Markets ETF 0.3 35 28 10.2 +7.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.3 32 31 6.1 +3.1
AVDV Avantis International Small Cap Value ETF 0.3 36 27 7.6 +4.5
EIS iShares MSCI Israel ETF 0.3 59 4 8.2 +5.2
EWUS iShares MSCI United Kingdom Small Cap ETF 0.3 59 4 8.2 +5.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.2 12 51 7.1 +4.1
XKST SPDR Kensho Smart Mobility ETF 0.2 45 18 5.0 +1.9
PXH Invesco FTSE RAFI Emerging Markets ETF 0.2 50 13 13.2 +10.1
SCHE Schwab Emerging Markets Equity ETF 0.2 11 52 7.9 +4.8
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 0.2 24 39 6.5 +3.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 0.2 15 48 8.6 +5.5
SPEM SPDR Portfolio Emerging Markets ETF 0.2 11 52 7.8 +4.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.2 86 -23 2.1 -0.9
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 0.2 29 34 0.0 -3.0
TPSC Timothy Plan US Small Cap Core ETF 0.2 52 11 7.6 +4.5
INFR Legg Mason Global Infrastructure ETF 0.2 40 23 6.0 +3.0
VNQI Vanguard Global ex-US Real Estate Index Fund 0.2 12 51 10.1 +7.0
AFSM First Trust Active Factor Small Cap ETF 0.2 75 -12 5.2 +2.1
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 0.2 40 23 6.0 +3.0
ISDS Invesco Strategic Developed ex-US Small Company ETF 0.2 35 28 6.7 +3.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 0.1 29 34 12.0 +9.0
ISRA VanEck Vectors Israel ETF 0.1 62 1 6.2 +3.1
IXUS ishares Core MSCI Total International Stock ETF 0.1 9 54 7.3 +4.2
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.1 39 24 12.6 +9.6
VSGX Vanguard ESG International Stock ETF 0.1 17 46 7.0 +3.9
IWC iShares Micro-Cap ETF 0.1 60 3 -3.4 -6.5
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 0.1 39 24 6.2 +3.1
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 0.1 35 28 7.6 +4.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 54 5.7 +2.6
IJS iShares S&P Small-cap 600 Value ETF 0.1 25 38 8.1 +5.0
VXUS Vanguard Total International Stock Index Fund 0.1 8 55 7.4 +4.4
SLYV SPDR S&P 600 Small Cap Value ETF 0.1 15 48 8.2 +5.1
HAP VanEck Vectors Natural Resources ETF 0.1 50 13 5.9 +2.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.1 39 24 8.2 +5.2
VIOV Vanguard S&P Small-Cap 600 Value ETF 0.1 15 48 8.2 +5.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 0.1 39 24 5.8 +2.8
PSC Principal U.S. Small Cap Index ETF 0.1 38 25 6.3 +3.2
AVUV Avantis U.S. Small Cap Value ETF 0.1 25 38 8.0 +5.0
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 0.1 35 28 7.7 +4.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 0.1 29 34 4.6 +1.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 0.1 20 43 4.7 +1.7
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.1 39 24 3.9 +0.8
GUNR Flexshares Morningstar Global Upstream Natural Resources 0.1 46 17 5.5 +2.4
VYMI Vanguard International High Dividend Yield ETF 0.1 32 31 9.9 +6.8
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 0.1 58 5 8.2 +5.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.1 58 5 7.7 +4.7

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

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

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 6.0 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 3.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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