Historical series Itaú Asset launches first Brazilian ETF to offer access to the US stock market without exchange rate variations
With an initial investment of less than R$ 100.00, SPXR11 still has exposure to the interest rate differential between Brazil and the U.S.
Itaú Asset has started trading SPXR11 on B3, the first Brazilian ETF to offer access to the US stock market without exchange rate variations. The new product is the 23rd member of the Index Funds family of Brazil’s largest private asset manager. SPXR11 seeks to deliver the return of the S&P500, the index that brings together the 500 largest US companies, and offers exposure to the interest rate differential between Brazil and the US, through a financial structure that involves allocation in CDI and in specific international market derivatives.
Based on a historical analysis of similar strategies, it was identified that the return on this type of investment has been, on average, S&P 500 + 8% per year.
“SPXR11 is another important innovation from Itaú Asset in contributing to the development of the ETF segment in Brazil; it was launched to meet the growing demand from investors for international diversification,” says Renato Eid, superintendent of indexed strategies and responsible investment at Itaú Asset. “We always emphasize the importance of taking a long-term view in investments, making regular and consistent contributions, helping to smooth out market volatility and allowing for the gradual accumulation of capital,” he concludes.
SPXR11’s administration fee is 0.25%, with a 15% IR tax on capital gains for any investment period, without IOF and without eating quotas. The minimum initial investment is the value of one share, starting at less than R$100, which may change according to market fluctuations.
Aimed at a wide audience, including individuals and institutional investors, SPXR11 is available for investment at in the main brokers operating in the Brazilian market. This launch reinforces Itaú Asset’s commitment to offering innovative and accessible solutions, connecting local investors to the best global opportunities.