SPXI11

The It Now S&P 500 TRN Fundo de Índice (SPXI11) is a Brazilian exchange-traded fund designed to provide exposure to the U.S. equity market through investments linked to the S&P 500 Index. The ETF is managed by Itaú Asset Management and trades under the ticker SPXI11 on the B3.

Classified as an international equity ETF, the fund follows a passive management strategy. Its structure invests in a portfolio designed to track the performance of the S&P 500 Index, providing exposure to some of the largest publicly traded companies in the United States while maintaining U.S. dollar exposure.

Composition / Exposure profile

SPXI11 provides exposure primarily associated with:

• Large-cap U.S. companies.

• Information technology.

• Financial services.

• Communication services.

• Consumer-related sectors.

• Healthcare companies.

• U.S. equity markets.

• International diversification with U.S. dollar exposure.

The underlying exposure includes companies such as Microsoft, Apple, Amazon, Nvidia, Alphabet, Meta Platforms, and Tesla, among other constituents of the S&P 500 Index.

The ETF’s performance is particularly sensitive to U.S. economic conditions, Federal Reserve monetary policy, corporate earnings, and investor sentiment toward American equities.

Structure and costs

SPXI11 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. SPXI11 does not provide recurring income distributions, as gains generated by the portfolio are reinvested into the fund structure.

History and evolution of the ETF

The It Now S&P 500 TRN Fundo de Índice was launched in 2015 with the objective of expanding access to the U.S. equity market through the Brazilian stock exchange using an international index-based structure.

Since inception, the fund has become part of the growing international ETF segment in Brazil, reflecting increasing investor demand for geographic diversification and exposure to the world's largest equity market.

In recent years, SPXI11 has reflected fluctuations in U.S. equity markets, influenced by macroeconomic conditions, Federal Reserve policy decisions, corporate earnings results, and broader trends across global financial markets.

Additional Information

It Now S&P 500 TRN Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $1.14 Billion.

Over the past 12 months, It Now S&P 500 TRN Fundo de Índice recorded a return of 14.18%, with its price trading between $45.45 and $421.60 during the same period.

The ETF is traded under the ticker SPXI11.