ETF Evaluator:
Global X Brazil Active ETF ()
Follow This ETF
(as of Aug 25)
Best Performing in Focused Region Over the Last Year
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Risk
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ETF Details
Global X Brazil Active ETF Overview
Global X Brazil Active ETF (BRAZ) is an actively managed International Equity Focused Region exchange-traded fund (ETF). Global X Funds launched the ETF in 2023.
The investment seeks to achieve long-term capital growth.
The fund is an actively managed exchange traded fund (“ETF”) advised by Global X Management Company LLC (the “Adviser”) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, measured at the time of purchase, in equity securities: (i) of issuers domiciled in Brazil; and/or (ii) that are tied economically to Brazil. The fund is non-diversified.
About Global X Brazil Active ETF (BRAZ)
There are 2 members of the management team with an average tenure of 2.96 years: William Dorson (2023) and Paul Dmitriev (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI EM NR USD index with a weighting of 100% and MSCI Brazil NR USD index with a weighting of 100%. Global X Brazil Active ETF has 28 securities in its portfolio. The top 10 holdings constitute 71.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Global X Brazil Active ETF is part of the Equity global asset class and is within the International Equity ETF group. Global X Brazil Active ETF has 96.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.8% There is 96.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Global X Brazil Active ETF has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $1 billion average for the Focused Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BRAZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Global X Brazil Active ETF expense ratio is above average compared to funds in the Focused Region category. Global X Brazil Active ETF has an expense ratio of 0.75%, which is 45% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Global X Brazil Active ETF has a portfolio turnover rate of 36%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 26% for the Focused Region category.
Recently, in the month of July 2026, Global X Brazil Active ETF returned 6.1%, which earned it a grade of A, as the Focused Region category had an average return of 1.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Global X Brazil Active ETF has a trailing yield of 2.57%, which is below the 5.57% category average.
The fund normally distributes its income semi-annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Global X Brazil Active ETF Grades
Year to date, the ETF has returned 13.8%, 3.2 percentage points better than the category, which translates into a grade of B. The fund has returned 42.3% over the past year (grade of A).
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BRAZ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BRAZ Return (NAV) | 6.1% | -7.1% | 42.3% | na | na | na |
| BRAZ Return (Price) | 6.3% | -7.2% | 42.3% | na | na | na |
| NAV +/- Price Return | -0.182% | 0.107% | 0.042% | na | na | na |
| Focused Region Avg | 1.8% | 1.8% | 29.5% | 85.6% | 9.2% | 8.4% |
| BRAZ Grade (NAV) | A | F | A | na | na | na |
| +/- Category (NAV) | 4.3% | -8.9% | 12.9% | na | na | na |
| BRAZ Tax-Cost Ratio | na | na | 1.1% | na | na | na |
BRAZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BRAZ Return (NAV) | 13.8% | 45.0% | -29.0% | na | na | na | na | na | na | na | na |
| BRAZ Return (Price) | 14.4% | 45.3% | -29.8% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.046% | 0.008% | 0.025% | na | na | na | na | na | na | na | na |
| Focused Region Avg | 10.6% | 40.0% | 7.6% | 33.4% | -15.0% | 8.3% | 3.6% | 20.0% | -13.7% | 26.4% | 13.0% |
| BRAZ Grade (NAV) | B | B | F | na | na | na | na | na | na | na | na |
| +/- Category | 3.2% | 5.0% | -36.6% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 2.6% |
| Total Assets: | $ 10 Mil |
| Share Class Assets: | $ 10 Mil |
| Turnover: | 36.4% |
| Expense Ratio: | 0.75% |
| Index Fund: | No |
| Index Tracked: | MSCI EM NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.0 years | |||
| Average Tenure: 3.0 years | |||
| Managers (Year): Dorson William (2023), Dmitriev Paul (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 28 |
| % in Top 10 Holdings: | 71.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 96.7% |
Portfolio Allocation |
|
| Domestic Stock: | 2.8% |
| Foreign Stock: | 96.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Global X Funds |
| Phone Number: | 888-493-8631 |
| Website: | www.globalxfunds.com |
| Inception Date: | August 16, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.52% |
