The It Now S&P Kensho Moonshots ETF (SHOT11) was a Brazilian exchange-traded fund designed to track the performance of the S&P Kensho Moonshots Index, a benchmark developed by S&P Dow Jones Indices to identify U.S.-traded companies considered to be in the early stages of innovation.

Managed by Itaú Asset Management, the ETF traded under the ticker SHOT11 on the B3 and provided Brazilian investors with exposure to U.S. companies identified as innovative according to the benchmark's quantitative methodology. Classified as an international equity ETF, SHOT11 followed a passive management strategy.

The fund sought to replicate its benchmark primarily by investing in the stocks included in the S&P Kensho Moonshots Index and traded on international exchanges. Its structure permitted unrestricted investment abroad, allowing the portfolio to maintain exposure to the securities represented in the benchmark.

Composition / Exposure Profile

SHOT11 provided exposure primarily to:

• Innovative companies traded in the U.S. market.

• U.S. small- and mid-cap equities.

• Companies considered to be in the early stages of innovation cycles.

• Businesses developing innovative technologies, products, and services.

• The U.S. equity market.

• U.S. dollar currency exposure.

The S&P Kensho Moonshots Index was designed to identify 50 U.S.-traded companies with strong early-stage innovation characteristics. Its methodology used quantitative criteria to identify businesses associated with innovative products and services.

The strategy had substantial exposure to smaller companies compared with major broad-market U.S. indexes. During SHOT11's existence, approximately 85% of the companies represented in the benchmark were classified as small or mid caps, according to the B3. The index portfolio was reviewed twice a year.

Structure and Costs

While the fund was in operation, SHOT11 shares traded on the secondary market on the B3 during regular trading hours. The fund charged an annual management fee of 0.50%.

SHOT11 did not make recurring income distributions. Dividends and other proceeds generated by its underlying investments were incorporated into the fund's net asset value. The ETF subsequently ceased trading, with its final B3 trading records dating to 2024.

History and Evolution of the ETF

The It Now S&P Kensho Moonshots ETF was launched in 2021 by Itaú Asset Management to provide Brazilian investors with exchange-traded access to U.S. companies identified as being in the early stages of innovation.

SHOT11 expanded the range of international thematic ETFs available in Brazil by introducing a strategy focused on innovative companies rather than the large-cap businesses that dominate traditional broad-market U.S. indexes.

During its time on the market, the ETF's performance reflected conditions affecting growth-oriented and smaller U.S. companies, including interest rates, access to capital, technological developments, corporate growth expectations, investor risk appetite, and currency movements.

In 2024, SHOT11 ceased trading on the B3, ending its history as a standalone Brazilian ETF.

Additional Information

It Now S&P Kensho Moonshots ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $-.

Over the past 12 months, It Now S&P Kensho Moonshots ETF recorded a return of -, with its price trading between $13.32 and $13.32 during the same period.

The ETF is traded under the ticker SHOT11.