The Nu High Beta ETF (HIGH11) is a Brazilian exchange-traded fund designed to provide exposure to stocks with greater sensitivity to market movements through investments linked to the Ibovespa Smart High Beta B3 Index. 

The ETF is managed by Nu Asset Management Ltda. and administered by Banco BNP Paribas Brasil S.A. It trades under the ticker HIGH11 on the B3, offering investors access to a high-beta strategy within the Brazilian equity market.

Classified as an equity ETF, the fund follows a passive management strategy. Its objective is to replicate the performance of the Ibovespa Smart High Beta B3 Index, which selects stocks that historically exhibit greater volatility and sensitivity relative to the traditional Ibovespa benchmark.

Composition / Exposure profile

HIGH11 provides exposure primarily associated with:

• High-beta Brazilian equities.

• Factor-based investment strategies.

• Growth-oriented stocks.

• Cyclical sectors of the economy.

• Companies with higher market sensitivity.

• Domestic equity-market exposure.

• Quantitative investment methodologies.

• Higher-volatility equity allocations.

The benchmark is designed to identify stocks with greater responsiveness to changes in market conditions, providing exposure to companies that historically exhibit larger price movements relative to the Ibovespa.

Performance is generally influenced by investor risk appetite, economic growth expectations, capital flows, interest-rate conditions, and the performance of sectors that tend to be more sensitive to market cycles.

Structure and costs

HIGH11 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 0.50% per year, in addition to operational expenses associated with maintaining and replicating the benchmark.

HIGH11 does not apply a performance fee and does not provide recurring income distributions, as dividends and other proceeds received from underlying holdings are automatically reinvested and reflected in the ETF’s share value.

History and evolution of the ETF

The Nu High Beta ETF was launched in 2024 with the objective of providing exposure to the Brazilian equity market through a factor-based strategy focused on high-beta stocks, allowing investors to gain amplified exposure to market cycles.

Since inception, the fund has become part of the growing segment of factor-based ETFs in Brazil, reflecting increased investor interest in quantitative investment approaches and risk-factor strategies.

In recent periods, HIGH11 has reflected movements in the Brazilian stock market with greater intensity than broad-market benchmarks, influenced by macroeconomic developments, capital flows, investor sentiment, and the performance of sectors and companies that exhibit higher sensitivity to market fluctuations.

Additional Information

Nu High Beta ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $27.25 million.

Over the past 12 months, Nu High Beta ETF recorded a return of -6.17%, with its price trading between $78.05 and $107.92 during the same period.

The ETF is traded under the ticker HIGH11.