BRZD – MicroSectors™ -3× Short Brazil Etns – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide three times leveraged inverse participation in the VettaFi Brazil Equity Fund-Tracking Index (the “Index”) from one leverage reset day to the next, before taking into account fees and charges. The index is a total return index that tracks the performance of the iShares® MSCI Brazil ETF and is designed to provide exposure to the large- and mid-capitalization segments of the equity market in Brazil through a single fund-tracking vehicle.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
BRZD	MicroSectors™ -3× Short Brazil Etns	ETF	Open	—	—	Aug 19, 2026	$3.78M	0.950%	—	—	—

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