BRAX11

The iShares IBrX-100 ETF Fundo de Índice (BRAX11) is a Brazilian exchange-traded fund designed to provide exposure to the Brazilian equity market through investments linked to the IBrX-100 Index. The ETF is managed by BlackRock Brasil and trades under the ticker BRAX11 on the B3.

Classified as an equity ETF, the fund follows a passive management strategy. Its objective is to replicate the composition and weighting of the IBrX-100 through a full-replication approach, providing investors with exposure to 100 of the most traded and representative stocks in the Brazilian market.

Composition / Exposure profile

BRAX11 provides exposure primarily associated with:

• Large-cap Brazilian companies.

• Financial institutions.

• Energy-sector companies.

• Mining and materials businesses.

• Consumer-related sectors.

• Retail and wholesale companies.

• Industrial companies.

• Broad Brazilian equity-market exposure.

The underlying exposure may include companies such as Vale, Petrobras, Itaú Unibanco, Bradesco, Banco do Brasil, Ambev, Assaí, and Allos, among other constituents of the IBrX-100 Index.

The ETF seeks to reflect the performance of the IBrX-100, a benchmark widely used by institutional and retail investors as a representation of the Brazilian equity market.

Structure and costs

BRAX11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, helping to align the ETF’s market price with its net asset value (NAV).

The fund charges a management fee of approximately 0.20% per year, calculated on its net assets. BRAX11 does not apply a performance fee and does not provide recurring income distributions, as dividends and other proceeds received from underlying holdings are reflected in the fund’s share value.

History and evolution of the ETF

The iShares IBrX-100 ETF Fundo de Índice was created with the objective of replicating the performance of the IBrX-100, offering investors a convenient way to gain exposure to Brazil’s leading publicly traded companies through a single exchange-traded instrument.

Over time, the fund has become one of the established ETFs focused on the Brazilian equity market, reflecting the growing adoption of passive-investment strategies among local investors.

In recent years, BRAX11 has reflected fluctuations in the Brazilian stock market, influenced by macroeconomic developments, corporate earnings, commodity prices, interest-rate conditions, and broader market sentiment.

Additional Information

iShares IBrX-100 ETF Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $130.35 Millions.

Over the past 12 months, iShares IBrX-100 ETF Fundo de Índice recorded a return of 24.46%, with its price trading between $110.62 and $169.00 during the same period.

The ETF is traded under the ticker BRAX11.