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BRF vs. ESPO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BRF vs. ESPO

Last updated Jul 16, 2026
Documentation

BRF (VanEck Vectors Brazil Small-Cap ETF) and ESPO (VanEck Video Gaming and eSports ETF) are both exchange-traded funds - BRF is a Latin America Equities fund tracking the MVIS Brazil Small-Cap Index, while ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index. Both are passively managed. Over the past 5 years, BRF returned -2.76%/yr vs 7.63%/yr for ESPO. At a 0.38 correlation, their price movements are largely independent. BRF charges 0.60%/yr vs 0.55%/yr for ESPO.

Performance

BRF vs. ESPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Brazil Small-Cap ETF (BRF) and VanEck Video Gaming and eSports ETF (ESPO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, BRF achieves a 3.92% return, which is significantly higher than ESPO's -11.22% return.

BRF

1D
-1.26%
1M
-2.97%
6M
-0.81%
YTD
3.92%
1Y
20.63%
3Y*
2.55%
5Y*
-2.76%
10Y*
4.25%

ESPO

1D
0.47%
1M
4.05%
6M
-12.88%
YTD
-11.22%
1Y
-11.42%
3Y*
17.67%
5Y*
7.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BRF vs. ESPO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
BRF
VanEck Vectors Brazil Small-Cap ETF		3.92%54.17%-35.02%37.21%-14.38%-20.40%-21.07%40.66%6.51%
ESPO
VanEck Video Gaming and eSports ETF		-11.22%25.79%47.61%33.64%-34.71%-2.13%83.93%42.36%-12.49%

Correlation

The correlation between BRF and ESPO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2018

0.38

BRF vs. ESPO - Sectors Allocation Comparison

Sectors
BRF
ESPO

Real Estate

15.7%

-

Industrials

14.0%

-

Basic Materials

12.8%

-

Consumer Cyclical

12.6%
14.0%

Consumer Defensive

10.1%

-

Utilities

9.6%

-

Financial Services

9.2%

-

Healthcare

6.1%

-

Energy

4.9%

-

Technology

4.1%
75.3%

Communication Services

-

10.6%

Real Estate

BRF
15.7%
ESPO

-

Industrials

BRF
14.0%
ESPO

-

Basic Materials

BRF
12.8%
ESPO

-

Consumer Cyclical

BRF
12.6%
ESPO
14.0%

Consumer Defensive

BRF
10.1%
ESPO

-

Utilities

BRF
9.6%
ESPO

-

Financial Services

BRF
9.2%
ESPO

-

Healthcare

BRF
6.1%
ESPO

-

Energy

BRF
4.9%
ESPO

-

Technology

BRF
4.1%
ESPO
75.3%

Communication Services

BRF

-

ESPO
10.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Vectors Brazil Small-Cap ETF

VanEck Video Gaming and eSports ETF

Often compared with BRF:
BRF vs. EWZBRF vs. EWZSBRF vs. FLNBRF vs. KSABRF vs. TMFCBRF vs. GDXBRF vs. FLBR
Often compared with ESPO:
ESPO vs. HEROESPO vs. ESGB.LESPO vs. GAMRESPO vs. NERDESPO vs. VGTESPO vs. MDLZESPO vs. SNSR

Return for Risk

BRF vs. ESPO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BRF
BRF Risk / Return Rank: 2424
Overall Rank
BRF Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
BRF Sortino Ratio Rank: 2424
Sortino Ratio Rank
BRF Omega Ratio Rank: 2424
Omega Ratio Rank
BRF Calmar Ratio Rank: 2626
Calmar Ratio Rank
BRF Martin Ratio Rank: 2525
Martin Ratio Rank
ESPO
ESPO Risk / Return Rank: 55
Overall Rank
ESPO Sharpe Ratio Rank: 44
Sharpe Ratio Rank
ESPO Sortino Ratio Rank: 44
Sortino Ratio Rank
ESPO Omega Ratio Rank: 44
Omega Ratio Rank
ESPO Calmar Ratio Rank: 66
Calmar Ratio Rank
ESPO Martin Ratio Rank: 66
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BRF vs. ESPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Brazil Small-Cap ETF (BRF) and VanEck Video Gaming and eSports ETF (ESPO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

BRFESPODifference
Sharpe ratioReturn per unit of total volatility
0.71
-0.61

+1.32

Sortino ratioReturn per unit of downside risk
1.14
-0.74

+1.88

Omega ratioGain probability vs. loss probability

1.14

0.91

+0.23

Calmar ratioReturn relative to maximum drawdown

1.05

-0.39

+1.44

Martin ratioReturn relative to average drawdown

2.60

-0.65

+3.26

BRF vs. ESPO - Sharpe Ratio Comparison

The current BRF Sharpe Ratio is 0.71, which is higher than the ESPO Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of BRF and ESPO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BRF vs. ESPO - Drawdown Comparison

The maximum BRF drawdown since its inception was -82.26%, which is greater than ESPO's maximum drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for BRF and ESPO.

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Drawdown Indicators

BRFESPODifference

Max Drawdown

Largest peak-to-trough decline

-82.26%

-50.99%

-31.27%

Max Drawdown (1Y)

Largest decline over 1 year

-19.81%

-29.43%

+9.62%

Max Drawdown (3Y)

Largest decline over 3 years

-37.81%

-29.43%

-8.38%

Max Drawdown (5Y)

Largest decline over 5 years

-46.60%

-48.33%

+1.73%

Max Drawdown (10Y)

Largest decline over 10 years

-60.43%

—

—

Current Drawdown

Current decline from peak

-49.34%

-23.86%

-25.48%

Average Drawdown

Average peak-to-trough decline

-45.75%

-15.18%

-30.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.94%

17.58%

-9.64%

Volatility

BRF vs. ESPO - Volatility Comparison

VanEck Vectors Brazil Small-Cap ETF (BRF) has a higher volatility of 6.94% compared to VanEck Video Gaming and eSports ETF (ESPO) at 4.85%. This indicates that BRF's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BRFESPODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.94%

4.85%

+2.09%

Volatility (6M)

Calculated over the trailing 6-month period

23.32%

15.08%

+8.24%

Volatility (1Y)

Calculated over the trailing 1-year period

29.01%

18.82%

+10.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.62%

25.09%

+6.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.83%

25.63%

+8.20%

BRF vs. ESPO - Expense Ratio Comparison

BRF has a 0.60% expense ratio, which is higher than ESPO's 0.55% expense ratio.

Dividends

BRF vs. ESPO - Dividend Comparison

BRF's dividend yield for the trailing twelve months is around 5.33%, more than ESPO's 1.40% yield.

PositionTTM20252024202320222021202020192018201720162015
BRF
VanEck Vectors Brazil Small-Cap ETF		5.33%5.54%4.08%5.02%4.13%2.96%1.66%2.54%2.89%4.53%4.25%3.84%
ESPO
VanEck Video Gaming and eSports ETF		1.40%1.24%0.44%0.96%0.91%3.36%0.12%0.22%0.04%0.00%0.00%0.00%

Frequently Asked Questions

BRF and ESPO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BRF has higher volatility (6.94%) compared to ESPO (4.85%). In terms of maximum drawdown, BRF dropped -82.26% vs ESPO's -50.99%.

On 5-year performance, ESPO leads with 7.63% vs -2.76% for BRF. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 4.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ESPO has performed better with a 7.63% return vs -2.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ESPO is cheaper with a 0.55% expense ratio, compared with 0.60% for BRF.

BRF has the higher dividend yield at 5.33%, compared with 1.40% for ESPO.

BRF is categorized as Latin America Equities, while ESPO is Gaming. BRF tracks MVIS Brazil Small-Cap Index, while ESPO tracks MVIS Global Video Gaming and eSports Index. Their fees differ too: 0.60% for BRF and 0.55% for ESPO.

BRF currently has the higher Sharpe Ratio (0.71 vs -0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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