The Inter EQI Teva Market Gurus ETF (GURU11) is a Brazilian exchange-traded fund designed to track the performance of the Teva Grandes Gurus do Mercado Index, a benchmark built around positions disclosed by selected Brazilian equity funds.

The ETF trades under the ticker GURU11 on the B3 and is currently identified by the exchange as being managed by Inter/EQI. Classified as an equity ETF, GURU11 follows a passive strategy relative to its benchmark and provides an unconventional form of equity exposure by systematically tracking positions disclosed by professional investment funds.

The underlying index is designed to measure the performance of a theoretical portfolio consisting of stocks, units, and BDRs based on the portfolios of selected Brazilian equity funds. Rather than relying exclusively on conventional company-level selection factors, the strategy therefore incorporates investment decisions reflected in the holdings of professional fund managers.

Composition / Exposure Profile

GURU11 provides exposure primarily to:

• Stocks selected based on the portfolios of Brazilian equity funds.

• Eligible units and BDRs.

• Multiple equity market sectors.

• Investment allocations originally implemented by professional fund managers.

• Brazilian equities and, through BDRs, potential international market exposure.

The defining characteristic of GURU11 is the methodology used to construct its benchmark. Rather than selecting companies exclusively according to conventional factors such as market capitalization, liquidity, sector classification, or fundamental metrics, the index uses disclosed holdings from selected Brazilian equity funds as an input for portfolio construction.

The resulting portfolio brings together securities represented in the strategies of the selected funds, allowing the benchmark to systematically reflect part of their investment allocations without requiring investors to purchase shares of each underlying fund individually.

Structure and Costs

GURU11 shares trade on the secondary market on the B3 during regular trading hours. The standard trading lot consists of one share, with prices quoted in Brazilian reais.

BTG Pactual Serviços Financeiros serves as the fund's fiduciary administrator. At launch, EuQueroInvestir Gestão de Recursos was identified as investment manager, while Inter Asset Gestão de Recursos served as co-manager.

Portfolio holdings can change over time according to the benchmark methodology and changes in the portfolios used as references by the index. Returns generated by the underlying securities are reflected in the ETF's net asset value and share price.

History and Evolution of the ETF

The Inter EQI Teva Market Gurus ETF was launched in 2021, when GURU11 shares began trading on the B3. The ETF was introduced to provide investors with exchange-traded access to a strategy based on positions held by selected Brazilian equity funds.

GURU11 introduced an unconventional approach to Brazil's ETF market. Instead of tracking a broad-market, sector, or company-factor benchmark, its underlying index uses equity fund portfolios as an input for constructing its investment universe.

Since its launch, the strategy's composition has been able to evolve alongside changes in the portfolios disclosed by the funds considered under the benchmark methodology. GURU11's exposure therefore reflects both broader equity market conditions and changes in the investment allocations incorporated into the Teva Grandes Gurus do Mercado Index.

Additional Information

Inter EQI Teva ETF Grandes Gurus do Mercado (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $-.

Over the past 12 months, Inter EQI Teva ETF Grandes Gurus do Mercado recorded a return of 0.00%, with its price trading between $0.00 and $0.00 during the same period.

The ETF is traded under the ticker GURU11.