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The Buena Vista U.S. Real Estate High Income ETF (CASA11) is a Brazilian exchange-traded fund designed to generate monthly income through a strategy linked to the U.S. real estate market. The ETF is managed by Buena Vista Capital and trades under the ticker CASA11 on the B3.
Classified as an international strategy-based income ETF, the fund combines exposure to U.S. real estate assets with derivatives strategies. Its structure seeks to replicate a portfolio based on the iShares U.S. Real Estate ETF (IYR), while implementing a covered call strategy intended to generate monthly income and capture part of the underlying asset appreciation.
Composition / Exposure profile
CASA11 provides exposure primarily associated with:
U.S. Real Estate Investment Trusts (REITs).
Commercial real estate.
Industrial and logistics properties.
Residential real estate.
Healthcare real estate.
Data centers and telecommunications towers.
U.S. dollar exposure.
Monthly income-generation strategies.
The underlying exposure may include companies such as Welltower, Prologis, Equinix, Simon Property Group, and American Tower, among other U.S. real estate companies.
The ETF’s performance is particularly sensitive to interest-rate movements, property-market conditions, occupancy trends, rental-income dynamics, and currency fluctuations between the Brazilian real and the U.S. dollar.
Structure and costs
CASA11 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 and may incur costs associated with the international investment structure. CASA11 does not apply a performance fee and distributes monthly income to shareholders, with applicable withholding taxes according to the fund’s structure and prevailing regulations.
History and evolution of the ETF
The Buena Vista U.S. Real Estate High Income ETF was launched in 2025 with the objective of providing a monthly-income alternative linked to a dollar-denominated real estate portfolio through the Brazilian stock exchange.
Since inception, the fund has become part of the growing segment of strategy-based ETFs in Brazil, combining global real estate exposure with derivatives-driven income generation.
In recent periods, CASA11 has reflected both the dynamics of the U.S. real estate market and the impact of options strategies, alongside currency movements between the Brazilian real and the U.S. dollar.
Additional Information
Buena Vista U.S. Real Estate High Income ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $20.06 Millions.
Over the past 12 months, Buena Vista U.S. Real Estate High Income ETF recorded a return of -0.31%, with its price trading between $83.94 and $100.64 during the same period.
The ETF is traded under the ticker CASA11.
