USDB11

The Trend ETF USD Fundo de Índice (USDB11) is a Brazilian exchange-traded fund designed to provide exposure to the U.S. dollar against the Brazilian real through investments linked to a currency benchmark based on the USD/BRL exchange rate. The ETF is managed by XP Asset Management and trades under the ticker USDB11 on the B3.

Classified as a currency ETF, the fund follows a passive management strategy. Its objective is to provide investors with indirect exposure to the U.S. dollar through financial instruments linked to exchange-rate movements in the Brazilian market.

Composition / Exposure profile

USDB11 provides exposure primarily associated with:

• U.S. dollar futures contracts traded in Brazil.

• USD/BRL exchange-rate movements.

• Currency-linked financial instruments.

• Brazilian foreign-exchange markets.

• Dollar-denominated exposure.

• Currency-diversification strategies.

• Derivatives-based investment structures.

• International macroeconomic trends.

The ETF seeks to reflect the performance of the USD/BRL exchange rate, a widely used benchmark for measuring the value of the U.S. dollar relative to the Brazilian real. The ETF’s performance is particularly sensitive to monetary-policy decisions in Brazil and the United States, capital flows, interest-rate differentials, and global risk sentiment.

Structure and costs

USDB11 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 and incurs additional costs related to the rolling of futures contracts and other instruments used in the strategy. USDB11 does not apply a performance fee and does not provide recurring income distributions.

History and evolution of the ETF

The Trend ETF USD Fundo de Índice was launched with the objective of facilitating access to U.S. dollar exposure through the Brazilian stock exchange using a structure based on currency derivatives.

Since inception, the fund has become part of the growing segment of currency-focused ETFs available in Brazil, reflecting increasing investor interest in exchange-rate diversification and international portfolio allocation.

In recent years, USDB11 has reflected fluctuations in the USD/BRL exchange rate, influenced by macroeconomic conditions, monetary-policy decisions, foreign-capital flows, geopolitical developments, and broader global market dynamics.

Additional Information

Trend ETF USD Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $-.

Over the past 12 months, Trend ETF USD Fundo de Índice recorded a return of -5.26%, with its price trading between $94.70 and $107.87 during the same period.

The ETF is traded under the ticker USDB11.