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The BB ETF S&P/B3 DI Futures 3 Years Fundo de Índice (FIXA11) is a Brazilian exchange-traded fund designed to provide exposure to Brazilian interest-rate futures through investments linked to the S&P/B3 DI Futures 3 Years Index. The ETF is managed by BB Asset and trades under the ticker FIXA11 on the B3.
Classified as a fixed-income ETF, the fund follows a passive management strategy. Its structure invests in financial instruments linked to DI futures contracts, seeking to reflect market expectations for Brazilian interest rates over a medium-term horizon.
Composition / Exposure profile
FIXA11 provides exposure primarily associated with:
Brazilian DI futures contracts.
Interest-rate expectations.
Yield-curve strategies.
Monetary-policy trends.
Fixed-income derivatives.
Brazilian government securities used for cash management.
Domestic interest-rate markets.
Medium-term rate exposure.
The ETF’s performance is particularly sensitive to decisions by the Central Bank of Brazil, inflation expectations, fiscal developments, and shifts in market expectations regarding future interest rates.
Changes in monetary policy, economic growth projections, and financial-market liquidity may directly affect the fund’s behavior. The ETF may also reflect movements across Brazil’s fixed-income and derivatives markets.
Structure and costs
FIXA11 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 does not apply a performance fee and maintains a low overall fee structure according to its regulations. FIXA11 does not provide recurring income distributions, as gains generated by the portfolio are reinvested into the fund structure.
History and evolution of the ETF
The BB ETF S&P/B3 DI Futures 3 Years Fundo de Índice was launched in 2023 with the objective of providing exposure to Brazilian interest-rate dynamics through the B3 using an index-based futures strategy.
Since inception, the fund has become part of the growing fixed-income ETF segment in Brazil, expanding investor access to strategies based on interest-rate derivatives and yield-curve positioning.
In recent periods, FIXA11 has reflected fluctuations in monetary-policy expectations and Brazil’s interest-rate curve, influenced by inflation trends, Central Bank decisions, and broader domestic macroeconomic conditions.
Additional Information
BB ETF S&P/B3 DI Futures 3 Years Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $98.23 Millions.
Over the past 12 months, BB ETF S&P/B3 DI Futures 3 Years Fundo de Índice recorded a return of 10.09%, with its price trading between $17.24 and $19.21 during the same period.
The ETF is traded under the ticker FIXA11.
