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The Trend ETF LBMA Gold Fundo de Índice (GOLD11) is a Brazilian exchange-traded fund designed to provide exposure to international gold prices through investments linked to the global precious-metals market. The ETF is managed by XP Vista Asset Management Ltda. and trades under the ticker GOLD11 on the B3.
Classified as a commodity ETF, the fund follows a passive management strategy. Its structure primarily invests in shares of an international ETF backed by physical gold, seeking to reflect the performance of gold prices in global markets.
Diversification and sector exposure
GOLD11 provides exposure primarily associated with:
• Indirect exposure to physical gold.
• International gold-linked ETFs.
• Precious-metals markets.
• Gold bullion pricing.
• Defensive assets.
• Inflation-sensitive assets.
• Global commodity markets.
• International gold exposure.
The ETF’s performance is particularly sensitive to international gold-price movements, global macroeconomic conditions, and monetary-policy decisions by major central banks, including the Federal Reserve.
Structure and costs
GOLD11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF’s market price with its net asset value (NAV).
The fund charges a management fee, in addition to operational costs associated with the underlying international ETF structure. GOLD11 does not charge a performance fee and does not provide recurring income distributions.
History and evolution of the ETF
The Trend ETF LBMA Gold Fundo de Índice was launched in 2020 as part of the expansion of commodity-focused ETFs within the Brazilian market, seeking to facilitate access to gold exposure through the Brazilian stock exchange.
Since inception, the fund has reflected movements associated with international gold markets, including changes in inflation expectations, monetary-policy cycles, and fluctuations in global financial conditions.
In recent years, GOLD11 has reflected volatility in international gold prices, changes in real interest rates, geopolitical developments, and shifts in investor demand for defensive and inflation-sensitive assets.
Additional Information
Trend ETF LBMA Gold Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $2.32 Billions.
Over the past 12 months, Trend ETF LBMA Gold Fundo de Índice recorded a return of 17.62%, with its price trading between $18.73 and $29.17 during the same period.
The ETF is traded under the ticker GOLD11.
