BRAZ
Global X Brazil Active ETF
BRAZ is an actively managed ETF offering exposure to the Brazilian Economy. BRAZ screens for companies with quality business models and management teams across Brazil, focusing on domestic-driven growth over a 4-5 year investing horizon.
Fund Basics
| Fund sponsor | Global X |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 17, 2023 |
| Assets (mns) | $3 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| PETROLEO BRASILEIRO S.A.-ADR | 10.2 % |
| VALE SA-SP ADR | 9.6 % |
| ITAU UNIBANCO HLDNG-PREF ADR | 8.4 % |
| HRT PARTICIPACOES EM PETROLE | 6.0 % |
| BANCO BRADESCO-ADR | 5.4 % |
| 3R PETROLEUM OLEO E GAS SA | 4.2 % |
| ITAUSA-INVESTIMENTOS ITAU-PR | 4.2 % |
| LOCALIZA RENT A CAR | 4.0 % |
| CENTRAIS ELEC BRAS-SP ADR CM | 3.6 % |
| RAIA DROGASIL SA | 3.6 % |
Constituent Breakdown
| Number of holdings | 27 |
| Herfindahl-Hirschman Index | 499 |
| Wgt avg mkt cap (mns) | $28,797 |
| Large cap (>$10bn) | 56.1% |
| Mid cap ($2-10bn) | 23.5% |
| Small cap (<$2bn) | 7.0% |
| Developed mkts. | 2.8% |
| Emerging mkts. | 97.2% |
Country Exposure
 |
BRAZIL | 89.3 % |
 |
ARGENTINA | 2.8 % |
 |
CAYMAN ISLANDS | 2.6 % |
 |
URUGUAY | 2.0 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -6.0% | -- | -- | -- | -- | -- | 8.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.45% |
| ADV of underlying (mns) | $1,739 |
Technical Indicators
| Recent close | $25.65 |
| 30d moving avg. | $27.42 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 65 |
| Short interest (ETF) | 3.3% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BRAZ |
Expenses vs. BRAZ |
ALTAR Score™ vs. BRAZ |
|---|---|---|---|---|
| ILF | iShares Latin America 40 ETF | 38.6% | -27 bp | +0.0% |
| EWZ | iShares MSCI Brazil ETF | 21.5% | -17 bp | +1.6% |
| FLBR | Franklin FTSE Brazil ETF | 18.9% | -56 bp | +2.1% |
| FTRI | First Trust Indxx Global Natural Resources Income ETF | 12.2% | -5 bp | +0.6% |
| FLLA | Franklin FTSE Latin America ETF | 11.9% | -56 bp | +1.4% |
Risk and Returns: BRAZ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 5/1/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BRAZ
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
BRAZ
10.2%
Cat. Avg
7.7%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 10.2% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 163 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.7% and a standard deviation of
3.8%. BRAZ's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places BRAZ in the 75th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
BRAZ
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BRAZ | 75.0 | 45.0 | 120 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .