Market VectorsTM Brazil Small-Cap Index (MVRIO)
MVRIO is a rules-based index intended to give investors a means of tracking the overall performance of companies that are domiciled and primarily listed in Brazil or offshore listings outside Brazil that are expected to generate at least 50% of their revenues in Brazil.
MVRIO will include only common stocks and stocks with similar characteristics. Any stocks which have had 10 or more non-trading days in a three month period prior to a quarterly review are ineligible for inclusion in the index.
The index is free-float adjusted – the number of shares outstanding is reduced to exclude closely held shares from the index calculation. In addition, stocks must meet strict size and liquidity requirements, e.g. a full market capitalisation larger than USD 150 million, a three months average-daily-trading volume of at least USD 1 million and a monthly trading volume of at least 250,000 shares over the last six months.
The Index is calculated with the stock prices converted to U.S. Dollars. The Market VectorsTM Brazil index is reviewed quarterly and changes are implemented on the third Friday of every quarter-end month (i.e. March, June, September and December). Changes become effective on the next trading day.
Rulebook Download
MVRIO will include only common stocks and stocks with similar characteristics. Any stocks which have had 10 or more non-trading days in a three month period prior to a quarterly review are ineligible for inclusion in the index.
The index is free-float adjusted – the number of shares outstanding is reduced to exclude closely held shares from the index calculation. In addition, stocks must meet strict size and liquidity requirements, e.g. a full market capitalisation larger than USD 150 million, a three months average-daily-trading volume of at least USD 1 million and a monthly trading volume of at least 250,000 shares over the last six months.
The Index is calculated with the stock prices converted to U.S. Dollars. The Market VectorsTM Brazil index is reviewed quarterly and changes are implemented on the third Friday of every quarter-end month (i.e. March, June, September and December). Changes become effective on the next trading day.
| Ticker symbols | MVRIO Price index ticker | MVRIO TRN index ticker |
| Reuters RIC | .MVRIO | .MVRIOTR |
| Bloomberg Ticker | MVRIO | MVRIOTR |
Rulebook DownloadTop 5 Holdings
To ensure portfolio diversity, the weighting cap factors are applied to individual companies when they exceed a certain weight in the Index. If a stock exceeds the maximum weight of 8%, then the weight will be reduced to the maximum weight and the excess weight shall be re-distributed proportionally across all other Index constituents. This process is repeated until no stocks have weights exceeding the maximum weight. Weighting cap factors are kept constant between the quarterly reviews.
Here you can find more information on rebalancing.
Daily constituents - PRICE Index
Corporate actions - PRICE Index
Daily constituents - TRN Index
Corporate actions - TRN IndexSector weightings
