GOVE11

The It Now Governance ETF Fundo de Índice (GOVE11) is a Brazilian exchange-traded fund designed to provide exposure to companies with high corporate-governance standards through investments linked to the IGC Trade Index (IGCT). The ETF is managed by Itaú Asset Management and trades under the ticker GOVE11 on the B3.

Classified as an equity ETF, the fund follows a passive management strategy. Its objective is to replicate the performance of the IGC Trade Index, which tracks companies listed on the Novo Mercado and Levels 1 and 2 of B3’s corporate-governance segments, subject to additional liquidity and eligibility criteria.

Composition / Exposure profile

GOVE11 provides exposure primarily associated with:

• Companies listed on Novo Mercado.

• Companies listed on B3 Governance Levels 1 and 2.

• Highly liquid Brazilian equities.

• Financial-sector companies.

• Utility businesses.

• Energy-sector companies.

• Basic-materials producers.

• Governance-focused investment strategies.

The portfolio includes companies that meet strict governance and liquidity requirements, representing approximately the most actively traded stocks within B3’s differentiated corporate-governance segments.

Sector exposure is diversified across financials, utilities, energy, materials, industrials, and consumer-related businesses, providing broad participation in the Brazilian economy while emphasizing governance quality.

Structure and costs

GOVE11 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 that may reach approximately 0.50% per year and does not apply a performance fee.

GOVE11 does not provide recurring income distributions, as dividends and other proceeds received from underlying holdings are reinvested into the portfolio. The fund has an indefinite duration, with financial settlement occurring on a D+2 basis and intraday trading available on the secondary market.

History and evolution of the ETF

The It Now Governance ETF Fundo de Índice was launched in 2011 with the objective of providing investors with exposure to Brazilian companies recognized for their higher standards of corporate governance.

Since inception, the fund has become part of the domestic equity ETF segment, serving investors seeking diversified exposure to companies that adhere to enhanced governance, transparency, and listing requirements.

In recent years, GOVE11 has reflected the performance of the Brazilian stock market, influenced by sector-specific developments, corporate results, investor sentiment, and broader macroeconomic conditions affecting the companies included in the benchmark.

Additional Information

It Now Governance ETF Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $24.69 million.

Over the past 12 months, It Now Governance ETF Fundo de Índice recorded a return of 23.76%, with its price trading between $57.59 and $86.47 during the same period.

The ETF is traded under the ticker GOVE11.