The It Now Gold Hedged ETF (GLDI11) is a Brazilian exchange-traded fund designed to provide exposure to gold prices through investments linked to the IFGOLD B3 Index, while eliminating direct exposure to fluctuations in the U.S. dollar against the Brazilian real. The ETF is managed by Itaú Asset Management and trades under the ticker GLDI11 on the B3.

Classified as a commodity ETF, the fund follows a passive management strategy. Its objective is to track the performance of the IFGOLD B3 Index, which reflects the price of gold combined with the interest-rate differential between Brazil and the United States, providing exposure to the precious metal in local currency terms.

Composition / Exposure profile

GLDI11 provides exposure primarily associated with:

• Gold-price movements.

• Currency-hedged commodity exposure.

• Precious-metals investments.

• Inflation-protection strategies.

• Interest-rate-differential dynamics.

• Alternative portfolio diversification.

• Defensive investment allocations.

• Brazilian investors seeking gold exposure in local currency.

The fund is designed for investors seeking access to gold while reducing the impact of exchange-rate volatility between the Brazilian real and the U.S. dollar.

Performance is generally influenced by global gold prices, inflation expectations, interest-rate cycles, geopolitical uncertainty, and periods of elevated market risk, during which gold has historically been viewed as a defensive asset.

Structure and costs

GLDI11 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 0.40% per year, in addition to operational expenses and other costs provided for in its regulations.

GLDI11 does not apply a performance fee and does not provide recurring income distributions. Subscription occurs on a D+0 basis, while settlement takes place on D+2 business days. The fund has an indefinite duration.

History and evolution of the ETF

The It Now Gold Hedged ETF was developed as an alternative for investors seeking exposure to gold through the Brazilian market while mitigating foreign-exchange risk and incorporating interest-rate-differential effects into its structure.

Since inception, the fund has become part of the growing commodity ETF segment in Brazil, offering a local-currency approach to investing in one of the world's most widely followed precious metals.

In recent years, GLDI11 has reflected fluctuations in global gold prices, as well as the effects of inflation trends, interest-rate cycles, geopolitical uncertainty, and broader macroeconomic developments that influence demand for safe-haven assets.

Additional Information

It Now Gold Hedged ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $243.57 million.

Over the past 12 months, It Now Gold Hedged ETF recorded a return of -, with its price trading between $51.39 and $68.56 during the same period.

The ETF is traded under the ticker GLDI11.