The Buena Vista DEX Vettafi Neos Energy Infrastructure High Income ETF (PIPE11) is a Brazilian exchange-traded fund designed to provide exposure to the global energy infrastructure sector while generating recurring income through an options-based strategy. The ETF is managed by Buena Vista Capital and trades under the ticker PIPE11 on the B3.

Classified as a strategy-based ETF, the fund does not exclusively replicate a traditional equity index. Its structure combines investments linked to energy and infrastructure assets with derivatives strategies designed to generate monthly income while maintaining exposure to the underlying market.

Composition / Exposure profile

PIPE11 provides exposure primarily associated with:

• Global energy infrastructure companies.

• Midstream energy businesses.

• Energy transportation and storage assets.

• International infrastructure investments.

• U.S. dollar exposure.

• Options-based income strategies.

• Commodity-related sectors.

• Monthly income-generation structures.

The ETF’s performance is particularly sensitive to energy-market conditions, commodity-price movements, infrastructure demand, and investor sentiment toward income-oriented investment strategies.

Changes in global energy consumption, interest rates, regulatory developments, and macroeconomic conditions may directly affect the fund’s behavior. The ETF may also reflect developments associated with oil and natural gas markets, energy-transition trends, and global infrastructure investment cycles.

Structure and costs

PIPE11 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. PIPE11 distributes monthly income to shareholders, with applicable withholding taxes on distributions according to the fund's structure and prevailing regulations.

History and evolution of the ETF

The Buena Vista DEX Vettafi Neos Energy Infrastructure High Income ETFwas launched in 2026 with the objective of providing a monthly-income alternative linked to the global energy and infrastructure sector through the Brazilian stock exchange.

Since inception, the fund has become part of the growing segment of strategy-based ETFs in Brazil, combining international diversification with options-driven income generation.

In recent periods, PIPE11 has reflected both fluctuations in energy-sector assets and the results of its options strategy, influenced by commodity prices, global energy-market dynamics, and broader macroeconomic conditions.

Additional Information

Buena Vista DEX Vettafi Neos Energy Infrastructure High Income ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $9.00 million.

Over the past 12 months, Buena Vista DEX Vettafi Neos Energy Infrastructure High Income ETF recorded a return of -, with its price trading between $94.83 and $104.71 during the same period.

The ETF is traded under the ticker PIPE11.