The Buena Vista Billionaires Select ETF (RICO11) is a Brazilian exchange-traded fund designed to provide exposure to U.S. companies selected based on the investment holdings of prominent billionaire investors through investments linked to the Bloomberg US Billionaires Investment Select Index (BBISP). The ETF is managed by Buena Vista Capital and trades under the ticker RICO11 on the B3.

Classified as an international equity ETF, the fund follows a passive management strategy. Its objective is to replicate the performance of the Bloomberg US Billionaires Investment Select Index, which tracks approximately 50 U.S.-listed companies with significant ownership by prominent billionaire investors, subject to diversification and concentration limits.

Composition / Exposure profile

RICO11 provides exposure primarily associated with:

• U.S. large-cap companies.

• Technology-sector businesses.

• Growth-oriented equities.

• Companies with significant billionaire ownership.

• U.S. equity markets.

• International diversification strategies.

• U.S. dollar exposure.

• Factor-based investment approaches.

The underlying portfolio may include companies such as Nvidia, Broadcom, Microsoft, Amazon, and Alphabet, among other businesses that meet the benchmark’s ownership and eligibility criteria.

The strategy is designed to capture exposure to companies that have attracted meaningful investments from highly influential market participants, while maintaining diversification across sectors and industries.

Structure and costs

RICO11 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 0.55% per year and does not apply a performance fee.

Trading occurs on the stock exchange with settlement on a D+2 basis. The fund maintains exposure to the U.S. dollar and is subject to the tax treatment generally applicable to equity investments, including taxation on capital gains.

History and evolution of the ETF

The Buena Vista Billionaires Select ETF was launched in 2025 with the objective of providing Brazilian investors with exposure to the U.S. stock market through a strategy based on the investment allocations of prominent billionaire investors.

Since inception, the fund has become part of the growing international ETF segment in Brazil, expanding opportunities for geographic diversification and access to global equity markets.

In recent periods, RICO11 has reflected fluctuations in the U.S. stock market, influenced by macroeconomic conditions, Federal Reserve policy decisions, corporate earnings, and the performance of large global companies included in the benchmark.

Additional Information

Buena Vista Billionaires Select ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $2.95 million.

Over the past 12 months, Buena Vista Billionaires Select ETF recorded a return of -1.81%, with its price trading between $27.79 and $34.60 during the same period.

The ETF is traded under the ticker RICO11.