The BB ETF Corn (CORN11) is a Brazilian exchange-traded fund designed to provide exposure to corn prices through investments linked to the B3 Corn Futures Index (IFMILHO B3). The ETF is managed by BB Gestão de Recursos DTVM S.A. and trades under the ticker CORN11 on the B3.

Classified as a commodity ETF, the fund follows a passive management strategy. Its objective is to track the performance of the B3 Corn Futures Index, which reflects the behavior of a theoretical portfolio based on corn futures contracts traded in the Brazilian market.

Composition / Exposure profile

CORN11 provides exposure primarily associated with:

• Corn futures contracts traded on the B3.

• Agricultural commodity markets.

• Derivatives-based investment strategies.

• Brazilian agribusiness exposure.

• Grain-market dynamics.

• Commodity-price fluctuations.

• Agricultural supply-and-demand trends.

• Alternative portfolio-diversification strategies.

The fund offers investors access to one of Brazil’s most important agricultural commodities without requiring direct participation in the futures market.

Performance is generally influenced by weather conditions, crop yields, planting and harvest cycles, global supply-and-demand dynamics, export activity, and broader macroeconomic and currency-related factors affecting agricultural markets.

Structure and costs

CORN11 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).

According to the fund’s regulations, the ETF does not charge a global management fee, performance fee, or exit fee. Trading occurs on the stock exchange with financial settlement on a D+2 basis. The fund has an indefinite duration and is classified for tax purposes as a variable-income investment vehicle.

History and evolution of the ETF

The BB ETF Corn was launched in 2022 with the objective of providing investors with access to the agricultural commodities market through the B3, with a specific focus on corn.

Since inception, the fund has become part of the growing segment of commodity-focused ETFs in Brazil, expanding diversification opportunities within the domestic exchange-traded fund market.

In recent years, CORN11 has reflected fluctuations in corn prices, influenced by weather conditions, harvest expectations, global supply-and-demand trends, export volumes, and broader macroeconomic and currency factors that affect agricultural commodity markets.

Additional Information

BB ETF Corn (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $26.54 million.

Over the past 12 months, BB ETF Corn recorded a return of 14.24%, with its price trading between $6.37 and $8.69 during the same period.

The ETF is traded under the ticker CORN11.