The BTG Pactual Long-Term Selic ETF (LLFT11) is a Brazilian exchange-traded fund designed to provide exposure to Brazilian government securities linked to the Selic rate through investments tied to a domestic fixed-income benchmark. The ETF is managed by BTG Pactual Asset Management and trades under the ticker LLFT11 on the B3.

Classified as a fixed-income ETF, the fund follows a passive management strategy. Its objective is to replicate the performance of the ITBR SELIC LP Teva Long-Term Treasury Selic Index, which seeks to measure the total return of a portfolio composed of Selic-linked government bonds selected according to liquidity and maturity criteria.

Composition / Exposure profile

LLFT11 provides exposure primarily associated with:

• Brazilian government bonds (LFTs).

• Selic-linked fixed-income securities.

• Brazilian sovereign debt.

• Post-fixed interest-rate exposure.

• Domestic fixed-income markets.

• Low-volatility investment strategies.

• Capital-preservation allocations.

• Brazilian monetary-policy dynamics.

The benchmark focuses on Treasury securities that meet minimum liquidity requirements and maintain a minimum time to maturity, providing diversified exposure within the Selic-linked bond universe.

Performance is generally influenced by changes in the Selic rate, Central Bank policy decisions, fixed-income market conditions, and broader macroeconomic developments affecting Brazilian government debt.

Structure and costs

LLFT11 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 total annual fee of approximately 0.19%, according to its fund materials.

LLFT11 does not apply a performance fee and does not provide recurring income distributions, as gains generated by the portfolio are automatically incorporated into the ETF’s share value.

History and evolution of the ETF

The BTG Pactual Long-Term Selic ETF was launched in 2025 with the objective of facilitating access to the Selic rate through the Brazilian stock exchange using a passive investment structure based on federal government securities.

Since inception, the fund has become part of the growing fixed-income ETF segment in Brazil, expanding investor access to low-volatility strategies linked to Brazil’s benchmark interest rate.

In recent periods, LLFT11 has closely tracked movements in the CDI and Selic rate, reflecting the dynamics of Brazilian monetary policy while maintaining the relatively low volatility characteristics typically associated with short-term government bonds.

Additional Information

BTG Pactual Long-Term Selic ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $1.84 billion.

Over the past 12 months, BTG Pactual Long-Term Selic ETF recorded a return of 14.72%, with its price trading between $101.96 and $116.91 during the same period.

The ETF is traded under the ticker LLFT11.