The XP US ESG Leaders ETF (USAL11) is a Brazilian exchange-traded fund designed to track the performance of the MSCI USA Extended ESG Leaders Index. Managed by XP Asset Management, the ETF trades on the B3 and provides Brazilian investors with indirect exposure to U.S. equities through an ESG-focused investment strategy.

Classified as an international equity ETF, USAL11 follows a passive management strategy. Rather than investing directly in individual stocks, the fund primarily invests in shares of an underlying international ETF that seeks to replicate the performance of the MSCI USA Extended ESG Leaders Index.

The benchmark is composed of U.S. large- and mid-cap companies selected according to environmental, social, and governance (ESG) criteria. It applies MSCI's ESG methodology to overweight companies with stronger sustainability characteristics while maintaining broad exposure to the U.S. equity market.

Composition / Exposure Profile

USAL11 provides exposure primarily to:

• U.S. large- and mid-cap equities.

• Companies with strong environmental, social, and governance (ESG) profiles.

• An international ETF linked to the MSCI USA Extended ESG Leaders Index.

• Multiple sectors of the U.S. economy, including technology, healthcare, financials, consumer discretionary, communication services, and industrials.

• The U.S. equity market with a sustainability-focused investment approach.

The ETF seeks to capture the performance of companies that demonstrate relatively strong ESG characteristics compared with their industry peers while preserving broad market representation. The underlying index uses a free-float market capitalization weighting methodology combined with ESG screening and selection criteria established by MSCI.

As a result, the fund's performance is primarily influenced by movements in the U.S. stock market, corporate earnings, interest-rate expectations, monetary policy, and broader trends affecting companies with strong ESG credentials.

Structure and Costs

USAL11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption are carried out by authorized participants, helping to keep the ETF's market price aligned with its net asset value (NAV).

The fund charges a management fee, in addition to the fees and operating expenses associated with the underlying international ETF in which it invests.

USAL11 does not charge a performance fee and does not make recurring income distributions. Dividends and other proceeds generated by the underlying holdings are automatically reinvested into the fund. The ETF has an indefinite term.

History and Evolution of the ETF

The XP US ESG Leaders ETF was launched to provide Brazilian investors with convenient access to the U.S. equity market through an ESG-oriented investment strategy using an international ETF structure.

Since its inception, USAL11 has become part of the growing range of international ETFs listed on the B3, reflecting increased investor demand for globally diversified portfolios that incorporate sustainability considerations. 

Over time, the fund's performance has mirrored developments in the U.S. equity market while also reflecting the long-term evolution of ESG investing, influenced by macroeconomic conditions, monetary policy, corporate earnings, and shifts in investor preferences toward sustainable investment strategies.

Additional Information

XP US ESG Leaders ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $614.03 million.

Over the past 12 months, XP US ESG Leaders ETF recorded a return of -, with its price trading between $14.25 and $16.57 during the same period.

The ETF is traded under the ticker USAL11.