VanEck Brazil Small-Cap ETF (BRF) Performance
BRF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +25.9% since Dec 31, 2025
- 1 year
- +34.3% total return
- 5 years
- +7.9% a year
- 10 years
- +4.7% a year
- Since first price
- +3.0% a year since 2009
BRF trailing returns vs SPY, QQQ, AGG
| Period | BRF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +24.5% | +24.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +25.3% | +25.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.7% | +4.7% | +7.8% | +8.4% | −1.5% |
| YTD | +25.9% | +25.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +34.3% | +27.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +53.4%+15.3%/yr | +32.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +46.5%+7.9%/yr | +17.7% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +58.4%+4.7%/yr | +8.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −12.8%−0.9%/yr | −53.5% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionMay 14, 2009 | +66.7%+3.0%/yr | −17.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BRF vs SPY
From May 14, 2009: BRF grew to $16,665, SPY to $115,951.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BRF returns by calendar year
7 of 16 full years positive. Best 2016 (+60.0%), worst 2015 (−48.8%). 2026 is year to date.
BRF annual returns table
| Year | BRF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +25.9% | −26.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +54.2% | −12.1% | +17.7% | +20.8% | +7.2% |
| 2024 | −35.0% | −34.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +37.2% | −22.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −14.4% | −37.6% | −18.2% | −32.6% | −13.0% |
| 2021 | −20.4% | −39.8% | +28.7% | +27.4% | −1.8% |
| 2020 | −21.1% | −60.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +40.7% | −16.3% | +31.2% | +39.0% | +8.5% |
| 2018 | −12.1% | −38.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +54.6% | −16.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +60.0% | −20.1% | +12.0% | +7.1% | +2.4% |
| 2015 | −48.8% | −49.9% | +1.2% | +9.4% | +0.5% |
| 2014 | −25.7% | −38.5% | +13.5% | +19.2% | +6.0% |
| 2013 | −29.2% | −35.0% | +32.3% | +36.6% | −2.0% |
| 2012 | +18.7% | −27.2% | +16.0% | +18.1% | +3.8% |
| 2011 | −27.9% | −36.6% | +1.9% | +3.4% | +7.7% |
| 2010 | +24.5% | −24.8% | +15.1% | +19.9% | +6.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BRF largest drawdowns
Now 36.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 21, 2011 | −81.7% | Jan 21, 2016 | not yet | 4.8 years | 15.5 years so far |
| Jan 11, 2010 | −24.8% | May 20, 2010 | Aug 17, 2010 | 4 months | 7 months |
| Nov 4, 2010 | −15.4% | Feb 10, 2011 | Apr 21, 2011 | 3 months | 6 months |
| Oct 15, 2009 | −12.5% | Oct 28, 2009 | Nov 9, 2009 | 13 days | 25 days |
| Jun 11, 2009 | −10.8% | Jun 22, 2009 | Jul 15, 2009 | 11 days | 34 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BRF risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +5.0% | +1.3% | +3.5% | +1.0% |
| Volatility (annualized) | 25.3% | 29.5% | 32.7% | 32.5% |
| Sharpe ratio | 0.14 | 0.07 | 0.21 | 0.16 |
| Sortino ratio | 0.22 | 0.10 | 0.30 | 0.23 |
| Best month | +15.3% | +16.3% | +24.7% | +24.7% |
| Worst month | −10.5% | −22.9% | −43.2% | −43.2% |
| Best 12 months | +75.4% | +75.4% | +75.4% | +106.4% |
| Worst 12 months | −35.0% | −35.0% | −41.8% | −60.0% |
| Positive months | 56% | 55% | 52% | 51% |
| Beta vs S&P 500 | 0.60 | 0.75 | 0.97 | — |
| Correlation with S&P 500 | 0.29 | 0.40 | 0.45 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BRF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 198 | −60.0% | −3.2% | +106.4% | 48% |
| 3-year (a year) | 174 | −37.6% | −3.6% | +40.1% | 41% |
| 5-year (a year) | 150 | −25.4% | −3.6% | +19.5% | 38% |
| 10-year (a year) | 90 | −8.4% | −3.0% | +11.0% | 27% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
BRF performance overview
VanEck Brazil Small-Cap ETF (BRF) returned +34.3% over the past year and +4.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned +3.0% a year, turning $10,000 into about $16,665. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −81.7%, from Apr 21, 2011 to Jan 21, 2016; the fund has not yet regained that high. BRF finished 7 of its 16 full calendar years with a gain; the best year was 2016 (+60.0%) and the worst 2015 (−48.8%). Volatility has been 32.5% a year.
Related: BRF chart, BRF holdings, BRF dividends. See the BRF overview for the latest quote and fund facts.
BRF performance FAQ
What is the BRF return over the past year?
BRF returned +34.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 27.1%.
What is the average annual return of BRF?
BRF has returned +7.9% a year over 5 years, +4.7% a year over 10 years, +3.0% a year since May 14, 2009 (total return, distributions reinvested).
How much would $10,000 invested in BRF be worth?
$10,000 invested in BRF at its first recorded close on May 14, 2009 would be worth about $16,665 on October 23, 2026 with distributions reinvested.
What was the worst year for BRF?
The worst calendar year was 2015, with a total return of −48.8%. The best was 2016 at +60.0%.
What is the biggest drawdown of BRF?
The largest peak-to-trough decline was −81.7% between April 21, 2011 and January 21, 2016. It has not yet recovered to that high; it is 36.8% below its peak.
How volatile is BRF?
Over the past 3 years BRF had an annualized volatility of 25.3% and a Sharpe ratio of 0.14 (excess return over 1–3 month T-bills per unit of risk).