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BRF vs BRZU

VanEck Brazil Small-Cap ETF

BRFCNYSE Arca

Direxion Daily MSCI Brazil Bull 2X ETF

BRZUDNYSE Arca

Overlap

0.0%by weight

Expense ratio

BRF −0.72pt a year

BRF0.60%BRZU1.32%

Avg volume · 30D

BRZU 6.8×the volume

BRF10.1KBRZU68.4K

10Y return · a year

BRF +25.2pt

BRF+0.2%BRZU−25.0%

BRF vs BRZU Performance

Oct 29, 2021 – Oct 30, 2026

−1.9%BRF+32.8%BRZU

Oct 29, 2021 to Oct 30, 2026. BRF −1.9%. BRZU +32.8%. Use the arrow keys to read each point.100%150%Oct 2021Apr 2024Oct 2026
Expense ratio
BRF 0.60%, better
BRZU 1.32%
Fund size
BRF $18M
BRZU $129M
1Y total return
BRF −16.1%
BRZU −2.8%, better
Yield (12M)
BRF 6.86%, better
BRZU 2.88%
Holdings
BRF 92
BRZU 8
Avg volume (30D)
BRF 10.1K sh
BRZU 68.4K sh, better
NAV per share
BRF $13.03
BRZU $73.25
52W range

ETF.net Grade

BRF: Cost 37, Risk 34, Mission 93, Tradability 36, Holdings 75, Durability 51. BRZU: Cost 8, Risk 30, Mission not scored, Tradability 56, Holdings not scored, Durability 50.
Pillar letters and Scores for BRF, BRZU, with each pillar’s weight
PillarBRFBRZU
Cost30% weightD37HigherF8
Mission25% weightA93Not scored
Risk15% weightD34HigherD30
Tradability15% weightD36B56Higher
Holdings10% weightA75Not scored
Durability5% weightC51HigherC50

Rank among Brazil funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BRF and BRZU are both graded against the same 7 Brazil funds, so their Grades compare head to head.

Brazil⁠

Category · 7 funds
See all 7 ›

BRF ranks 4th and BRZU 7th of 7 funds in the Brazil Category.

  1. Rank 1AFLBRFranklin FTSE Brazil ETFScore 77
  2. Rank 2AEWZiShares MSCI Brazil ETFScore 71
  3. Rank 3BEWZSiShares MSCI Brazil Small-Cap ETFScore 62
  4. Rank 4CBRFVanEck Brazil Small-Cap ETFScore 54
  5. Rank 5CBRAZGlobal X Brazil Active ETFScore 50
  6. Rank 6CBRZXCorgi Brazil 2x Daily ETFScore 40
  7. Rank 7DBRZUDirexion Daily MSCI Brazil Bull 2X ETFScore 27

Our read on each fund

ETF.net Research

BRFCVanEck Brazil Small-Cap ETF

BRZUDDirexion Daily MSCI Brazil Bull 2X ETF

In short

BRF Brazil 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.

BRZU Brazil with the volume knob turned up. BRZU aims for 200% of the MSCI Brazil 25/50 Index's move each trading day, resets every session, and is the only geared name on a Brazil shelf otherwise full of plain index trackers.

Stated mandate

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

BRZU The fund seeks daily investment results, before fees and expenses, equal to 200% of the MSCI Brazil 25/50 Index’s daily performance. It does not target that multiple over periods longer than one trading day.

Why people hold it

  • BRF 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.
  • BRZU The only geared Brazil fund in its peer group. FLBR, EWZ and EWZS give you the index; BRZU aims for twice its daily move, inside an ordinary brokerage account with no margin or futures paperwork.direxion.com
  • The mandate is stated without hedging: 200% of the MSCI Brazil 25/50 Index, before fees, for one trading day. Direxion says outright it does not target that multiple over any longer stretch.direxion.com
  • Trading since 2013, so this is a seasoned product, not a fresh launch, and it has run through several full cycles of Brazilian equity turbulence.

Worth knowing

  • BRF 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.
  • BRZU Daily reset is the whole story. Hold longer than a session and compounding takes over, so multi-day results can land far from 2x the index's move over that same window, especially in choppy tape.
  • The 1.32% expense ratio sits well above what unlevered Brazil index funds charge, which is the toll for the geared structure.
  • It trades thinly next to the household-name Brazil funds. Limit orders and a glance at the spread do real work here.

Full BRF profile⁠

Full BRZU profile⁠

BRF vs BRZU Holdings

How BRF and BRZU differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BRF and 0.0% of BRZU.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors55.3%
  • Countryby domicile93.1%
  • Asset classEquity100%

Sector

Sector weights in BRF and BRZU, widest gap first
SectorMore in BRFMore in BRZU
FinancialsBRZU +24.5 points
EnergyBRZU +15.3 points
Real EstateBRF +14.8 points
Consumer DiscretionaryBRF +13.9 points
IndustrialsBRF +5.8 points
Consumer StaplesBRF +4.5 points
UtilitiesBRZU +4.2 points
Health CareBRF +3.6 points
TechnologyBRF +2.1 points
MaterialsBRZU +0.5 points
CommunicationBRZU +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in BRF and BRZU, widest gap first
CountryMore in BRFMore in BRZU
BrazilBRZU +6.8 points
AustraliaBRF +2.7 points
IsraelBRF +2.4 points
CanadaBRF +1.4 points
United StatesBRF +0.4 points

Outside the US: BRF 4% developed, 96% emerging. BRZU 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

  • BRF29.7%
  • BRZU100.0%

Securities held

  • BRF89
  • BRZU3

Asset class

BRF
Equity
BRZU
Equity

Holdings

  • Only in BRF89
  • In both0
  • Only in BRZU3

Only in BRF

89 securities, 100% of BRF by weight

  • Alupar Investimento Sa3.78%
  • Fleury Sa3.52%
  • Pagseguro Digital Ltd3.51%

Only in BRZU

3 securities, 33.2% of BRZU by weight

  • Ishares Msci Brazil Etf21.44%
  • Goldman Sachs Fin Gov 465 Institut8.60%
  • Goldman Finl Sq Trsry Inst 5063.11%

Weight gaps

BRF and BRZU share no securities.

All 92 BRF holdings⁠All 9 BRZU holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BRF vs BRZU Cost

Overpaying BRZU vs BRF

$11,851

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

  • BRF 0.60%

    $11,817

  • BRZU 1.32%

    $23,668

$10,000
30 years

Cost over time

  • BRF 0.60%
  • BRZU 1.32%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530BRZU $23,668BRF $11,817

Year by year

YearBRFBRZUOverpaying
10$1,076$2,296$1,220
20$4,116$8,507$4,391
30$11,817$23,668$11,851

Expense ratio

  • 0.60%BRF, cheaper
  • 1.32%BRZU
  • Middle half of Brazil funds
  • Median 0.59%

BRF 5th cheapest of 7 funds

BRZU 7th cheapest of 7 funds

BRF vs BRZU Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BRF 6.86%, better
BRZU 2.88%
Payout (12M)
BRF $0.89
BRZU $2.03
Last payment
BRF $0.89
BRZU $0.26
Ex-dividend
BRF Dec 22, 2025
BRZU Sep 22, 2026
Paid on
BRF Dec 26, 2025
BRZU Sep 29, 2026
Frequency
BRF Annual
BRZU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BRFAnnual · 10 paymentsAll BRF payments⁠
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.$0$102017202020232026YTD
BRZUQuarterly · 29 paymentsAll BRZU payments⁠
One bar per payment. 29 payments from 2017 to 2026 YTD. Dec 19, 2017 $10.37; Sep 25, 2018 $3.81; Dec 27, 2018 $5.26; Jun 25, 2019 $6.88; Dec 23, 2019 $5.99; Mar 24, 2020 $0.25; Jun 23, 2020 $0.35; Dec 22, 2020 $0.32; Jun 22, 2021 $0.60; Dec 21, 2021 $3.59; Mar 22, 2022 $0.15; Jun 22, 2022 $0.84; Sep 20, 2022 $0.08; Dec 20, 2022 $2.15; Mar 21, 2023 $0.13; Jun 21, 2023 $1.11; Sep 19, 2023 $0.31; Dec 21, 2023 $1.78; Mar 19, 2024 $0.33; Jun 25, 2024 $1.39; Sep 24, 2024 $0.40; Dec 23, 2024 $1.49; Mar 25, 2025 $0.03; Jun 24, 2025 $0.77; Sep 23, 2025 $0.01; Dec 23, 2025 $1.09; Mar 24, 2026 $0.25; Jun 23, 2026 $0.43; Sep 22, 2026 $0.26. Use the arrow keys to read each point.$0$102017202020232026YTD

BRF vs BRZU Risk

Fall from peak · 5 years

  • BRF
  • BRZU
Oct 29, 2021 to Oct 30, 2026. Worst fall: BRZU −62.9% · Jan 2025. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
BRF 27.7%, betterBRZU 50.7%
Return per unit of riskSharpe ratio, 3 years
BRF −0.01BRZU 0.22, better
Worst fallMax drawdown, 5 years
BRF −41.5%, betterBRZU −62.9%
Market sensitivityBeta, 5 years
BRF 1.30BRZU 0.80

BRF and BRZU in the news

All news⁠

Popular comparisons

  • BRFCvsFLBRA

    VanEck Brazil Small-Cap ETF · Franklin FTSE Brazil ETF

    Expense ratio
    0.60% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BRZUDvsFLBRA

    Direxion Daily MSCI Brazil Bull 2X ETF · Franklin FTSE Brazil ETF

    Expense ratio
    1.32% · 0.19%
    Category
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  • BRFCvsEWZA

    VanEck Brazil Small-Cap ETF · iShares MSCI Brazil ETF

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    0.60% · 0.59%
    Category
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  • BRZUDvsEWZA

    Direxion Daily MSCI Brazil Bull 2X ETF · iShares MSCI Brazil ETF

    Expense ratio
    1.32% · 0.59%
    Category
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  • BRFCvsEWZSB

    VanEck Brazil Small-Cap ETF · iShares MSCI Brazil Small-Cap ETF

    Expense ratio
    0.60% · 0.59%
    Category
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  • BRZUDvsEWZSB

    Direxion Daily MSCI Brazil Bull 2X ETF · iShares MSCI Brazil Small-Cap ETF

    Expense ratio
    1.32% · 0.59%
    Category
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