NSDV11

The Nu Ibovespa Smart Dividendos ETF (NSDV11) is a Brazilian exchange-traded fund designed to provide exposure to Brazilian companies with a consistent history of dividend payments through investments linked to the Ibovespa Smart Dividendos Index. The ETF is managed by Nu Asset Management and trades under the ticker NSDV11 on the B3.

Classified as an equity ETF, the fund follows a passive management strategy. Its structure invests in a portfolio of stocks selected according to criteria related to dividend consistency, profitability, and financial stability, seeking exposure to companies with strong shareholder-return characteristics.

Composition / Exposure profile

NSDV11 provides exposure primarily associated with:

• Dividend-paying Brazilian companies.

• Electric utility businesses.

• Financial institutions.

• Insurance companies.

• Energy-sector companies.

• Real estate developers.

• Consumer-related businesses.

• Dividend-focused investment strategies.

The underlying exposure may include companies such as CPFL Energia, Cemig, Taesa, Itaúsa, BB Seguridade, Banco do Brasil, Petrobras, Cyrela, Vulcabras, and Lavvi, among other constituents of the Ibovespa Smart Dividendos Index.

The ETF’s performance is particularly sensitive to corporate earnings, dividend-distribution policies, interest-rate conditions, and investor demand for income-oriented equities.

Structure and costs

NSDV11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF’s market price with its net asset value (NAV).

The fund charges a management fee and does not apply a performance fee. NSDV11 does not provide recurring cash distributions, as dividends received from underlying holdings are automatically reinvested into the portfolio.

History and evolution of the ETF

The Nu Ibovespa Smart Dividendos ETF was launched in 2023 with the objective of providing exposure to Brazilian dividend-paying companies through an index-based methodology focused on financial quality and shareholder returns.

Since inception, the fund has become part of the growing segment of dividend-focused ETFs in Brazil, reflecting investor interest in income generation and exposure to companies with stable business models.

In recent periods, NSDV11 has reflected the performance of Brazilian dividend-oriented equities, influenced by macroeconomic conditions, corporate earnings results, interest-rate cycles, and developments in the domestic equity market.

Additional Information

Nu Ibovespa Smart Dividendos ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $64.69 Millions.

Over the past 12 months, Nu Ibovespa Smart Dividendos ETF recorded a return of 20.63%, with its price trading between $120.00 and $169.48 during the same period.

The ETF is traded under the ticker NSDV11.