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Launched · SEC filings

VanEck Brazil Small-Cap ETF

BRFNYSE ArcaVanEckC

$12.95−0.01 (−0.08%)

At close: Nov 2, 2026, 4:00 PM ET

C54/ 100

Rank 4 of 7 in Brazil

C54/100Rank 4 of 7inBrazil
Intraday session: down, 79 prints from 12.96 to 12.95. Range 12.95 to 13.21. Use the arrow keys to read each point.13.0513.1013.1513.2010 AM12 PM2 PM4 PM
Expense ratio
0.60%*
Fund size
$18M
1Y total return
−16.1%
Yield · Last 12 months
6.86%
Holdings
92
Avg volume · 30D
10.1K sh
52W range
low $12.92high $21.17
Launched
Filings
SEC EDGAR

*After a fee waiver that ends May 1, 2027. Without it: 1.17%.

The ETF.net BRF Grade

C

Score 54 out of 100

Category
Brazil⁠
Rank
4 of 7
Six-pillar profile for BRF. Scores out of 100: Cost 37, Risk 34, Mission 93, Tradability 36, Holdings 75, Durability 51. Strongest: Mission (93). Weakest: Risk (34). Leans toward Mission.

Score 54 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D37 out of 100
    Rank 5 of 7

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A93 out of 100
    Rank 1 of 5

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D34 out of 100
    Rank 4 of 7

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 6 of 7

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A75 out of 100
    Rank 1 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C51 out of 100
    Rank 4 of 7

Our read on BRF

ETF.net Research

In short

CBrazil without the giants. BRF tracks an index of roughly 90 Brazilian small caps, a narrower and more domestic slice than the broad country funds, and it has been doing that job since 2009.

Stated mandate

The fund seeks to replicate, before fees and expenses, the price and yield performance of the MVIS Brazil Small-Cap Index.

Why people hold it

  • A pure index play on Brazilian small caps: roughly 90 names, one mandate, no drift into other markets or size bands.
  • A different cut of Brazil than broad-market peers EWZ and FLBR: same country, opposite end of the size spectrum.
  • Live since 2009, with more than a decade of real trading history across Brazil's boom and bust cycles.
  • Rules-based from top to bottom: it replicates the MVIS Brazil Small-Cap Index rather than letting a manager pick the winners.

Worth knowing

  • The 0.60% fee sits at the middle of the Brazil ETF pack, and broad-market FLBR charges 0.19%. The premium buys the small-cap tilt, not a discount.
  • A small fund that trades lightly, so spreads tend to be wider than on the headline Brazil ETFs, especially away from Brazilian market hours.
  • One country, one size band: currency moves and local politics land harder here than in a diversified emerging-markets fund. Income arrives once or twice a year, not monthly.

BRF Holdings

Holdings pillarA75 out of 100Rank 1 of 5 in Brazil
Asset class
Stocks
Holdings
92
Top-10 weight
30%
Largest holding
ALUP11.SA3.8%

Sectors

  • Industrials17.8%
  • Consumer Discretionary15.6%
  • Real Estate14.8%
  • Materials12.6%
  • Financials9.3%
  • Consumer Staples8.7%
  • Utilities8.5%
  • Health Care5.9%
  • Energy3.1%
  • Technology2.1%
  • Communication1.5%

Geography

  • Brazil91.47%
  • Australia2.65%
  • Israel2.42%
  • United States2.07%
  • Canada1.39%

Developed 4% · Emerging 96% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1ALUP11.SAAlupar Investimento Sa3.78%116,793$678K35
2FLRY3.SAFleury Sa3.52%164,137$632K45
3PAGSPagseguro Digital Ltd3.51%77,969$629K69
4SMFT3.SASmartfit Escola De Ginastica E Danca Sa3.46%215,000$620K46
5INTRInter & Co Inc2.72%117,244$489K32
6SAPR11.SACia De Saneamento Do Parana2.62%79,500$470K43
7ORVR3.SAOrizon Valorizacao De Residuos Sa2.56%155,800$459K33
8CYRE3.SACyrela Brazil Realty Sa Empreendimentos2.56%142,350$459K44
9GGPS3.SAGps Participacoes E Empreendimentos Sa2.50%229,700$448K40
10CURY3.SACury Construtora E Incorporadora Sa2.46%90,750$441K43
11ITRNIturan Location And Control Ltd2.38%7,993$427K30
12SLVMSylvamo Corp2.03%11,274$364K124
13ARCOArcos Dorados Holdings Inc2.03%52,726$364K8
14AURE3.SAAuren Energia Sa2.01%177,600$362K43
15SLCE3.SASlc Agricola Sa1.91%108,762$343K36

Showing 1–15 of 92 holdings

BRF Performance

Launched May 12, 2009

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BRF$8,394
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. BRF $8,394. SPY $11,199. Use the arrow keys to read each point.$8,000$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BRF. Periods over one year show the average yearly return.
PeriodBRF
Year to date−19.2%
1 month−20.9%
3 months−20.2%
1 year−16.1%
3 yearsper year+0.4%
5 yearsper year−0.4%
10 yearsper year+0.2%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BRF
YearReturn barBRF
2026 YTD−19.2%
2025+54.2%
2024−34.9%
2023+37.1%
2022−14.5%
2021−20.3%
2020−21.0%

BRF in the news

BRF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
6.86%Last 12 months
Payout per share
$0.89Last 12 months
Last payment
$0.89 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 10 payments from 2017 to 2026 YTD. Dec 18, 2017 $1.06; Dec 20, 2018 $0.51; Dec 27, 2018 $0.07; Dec 23, 2019 $0.70; Dec 21, 2020 $0.35; Dec 20, 2021 $0.49; Dec 19, 2022 $0.56; Dec 18, 2023 $0.88; Dec 23, 2024 $0.45; Dec 22, 2025 $0.89. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.89
Dec 23, 2024Dec 24, 2024$0.45
Dec 18, 2023Dec 22, 2023$0.88
Dec 19, 2022Dec 23, 2022$0.56
Dec 20, 2021Dec 27, 2021$0.49
Dec 21, 2020Dec 28, 2020$0.35
Dec 23, 2019Dec 30, 2019$0.70
Dec 27, 2018Jan 3, 2019$0.07
Dec 20, 2018Dec 27, 2018$0.51
Dec 18, 2017Dec 22, 2017$1.06
Dec 19, 2016Dec 23, 2016$0.68
Dec 21, 2015Dec 28, 2015$0.40

See all 18 payments⁠

$10,000 in BRF 10 years ago paid $3,821 in dividends.⁠

BRF Risk

Risk pillarD34 out of 100Rank 4 of 7 in Brazil
How much the fund’s monthly returns vary, scaled to a year.
27.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.01
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−41.5%
Trough Jan 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.30
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BRF Cost

Compare BRF and FLBR

Overpaying vs FLBR, cheapest in Brazil

$7,865

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BRF 0.60%

    $11,817

  • FLBR 0.19% Cheapest

    $3,952

$10,000
30 years

Cost over time

  • BRF 0.60%
  • FLBR 0.19%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530BRF $11,817FLBR $3,952

Year by year

YearBRFFLBROverpaying
10$1,076$347$729
20$4,116$1,351$2,765
30$11,817$3,952$7,865
How the 0.60% is worked out

Full fee 1.17%− waiver 0.57%= you pay 0.60%

The waiver ends May 1, 2027. After that the fee is 1.17% unless VanEck renews it. Source: prospectus, Apr 2026.

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