The BTG Pactual Inflation-Linked Bond ETF (SFIX11) is a Brazilian exchange-traded fund designed to provide exposure to inflation-linked government bonds through investments linked to the Teva ITBR IPCA 95/5 Index. The ETF is managed by BTG Pactual Asset Management and trades under the ticker SFIX11 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 Teva ITBR IPCA 95/5 Index, which tracks the total return of a portfolio composed primarily of Brazilian inflation-linked government bonds (NTN-Bs) selected according to liquidity and representativeness criteria.

Composition / Exposure profile

SFIX11 provides exposure primarily associated with:

• Inflation-linked Brazilian government bonds (NTN-Bs).

• IPCA-indexed fixed-income securities.

• Brazilian sovereign debt.

• Medium- and long-term real interest rates.

• Inflation-protection strategies.

• Domestic fixed-income markets.

• Government-bond investments.

• Long-term purchasing-power preservation.

The portfolio is designed to provide diversified exposure to inflation-linked federal securities, offering investors access to one of the main segments of the Brazilian fixed-income market.

Performance is generally influenced by changes in inflation expectations, real interest-rate movements, Central Bank policy decisions, fiscal conditions, and broader macroeconomic developments affecting the government-bond market.

Structure and costs

SFIX11 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, in addition to operational expenses associated with portfolio management and index replication. The ETF does not apply a performance fee. SFIX11 does not provide recurring income distributions, as returns generated by the underlying securities are incorporated directly into the ETF’s share value.

History and evolution of the ETF

The BTG Pactual Inflation-Linked Bond ETF was created to facilitate access to inflation-linked fixed-income investments through the Brazilian stock exchange using a passive strategy based on federal government bonds.

Since inception, the fund has become part of the growing fixed-income ETF segment in Brazil, expanding investors’ access to instruments designed to preserve purchasing power over the long term.

In recent years, SFIX11 has reflected fluctuations in inflation expectations and real interest rates, influenced by monetary-policy decisions, macroeconomic conditions, and developments in the Brazilian government-bond market.

Additional Information

BTG Pactual Inflation-Linked Bond ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $10.07 million.

Over the past 12 months, BTG Pactual Inflation-Linked Bond ETF recorded a return of -, with its price trading between $100.76 and $111.12 during the same period.

The ETF is traded under the ticker SFIX11.