Credit: iStock
Performance showed a clear divide between Latin America and international markets. ARGE11 gained 1.37% and BOVA11 rose 1.28%. DOLB11 remained close to unchanged, declining 0.08%. SPXR11, SPXI11, WRLD11, PKIN11 and IVWO11 posted losses ranging from 0.51% to 1.75%.
In Brazil, the Ibovespa gained 1.42% to 188,269 points. Banks and Petrobras led the advance, while a 1.10% decline in Vale limited the result. Brent crude moved above $107 per barrel, supporting energy producers, while the US dollar fell 0.19% to approximately BRL 5.10.
International conditions remained less favorable. The S&P 500 declined 0.58% as higher oil prices and rising Treasury yields renewed concerns about inflation and US interest rates. In China, the CSI 300 fell 0.53%, increasing pressure on Asian and emerging-market exposures.
ARGE11 (Investo): +1.37%
ARGE11 led the group with a 1.37% gain. The ETF tracks a portfolio of US-listed ADRs of Argentine companies, with significant exposure to energy, banks, steel, telecommunications and building materials.
The largest holdings were YPF at 19.91%, Grupo Financiero Galicia at 16.86%, Ternium at 13.69%, Pampa Energía at 12.02% and Banco Macro at 7.99%. These five companies represented more than 70% of the portfolio.
Argentina’s equity market also advanced. The S&P Merval gained 1.53% to 3,157,852 points. Strength in energy and banks favored an ETF with substantial exposure to both sectors.
ARGE11 is up 2.23% for the week and 2.47% for the month. It is down 0.67% for the year but remains up 52.41% over 12 months.
BOVA11 (iShares): +1.28%
BOVA11 gained 1.28%, tracking the recovery in Brazilian equities. Its return remained close to the Ibovespa’s 1.42% advance.
Banks were among the session’s main drivers. Bradesco preferred shares gained 3.88%, Banco do Brasil rose 2.80% and Itaú Unibanco preferred shares advanced 1.83%. The financial index gained 2.33%, outperforming the broad market.
Petrobras also provided support, with its preferred shares gaining 1.45% as Brent crude moved above $107. Vale declined 1.10% amid weaker iron ore prices and prevented a stronger index advance.
BOVA11 is up 1.80% for the week, 9.42% for the month, 17.22% for the year and 33.09% over 12 months.
DOLB11 (BTG Pactual): -0.08%
DOLB11 declined 0.08% and remained close to unchanged. The US dollar ended the session near BRL 5.10, down 0.19% against the Brazilian real despite strengthening against other currencies internationally.
Higher oil prices and international caution supported the dollar, but flows into Brazilian equities and improved perceptions of the domestic environment favored the real. These opposing forces limited the ETF’s movement.
DOLB11 is down 0.45% for the week and 3.65% for the year. It is up 0.36% for the month and down 0.91% over 12 months.
SPXR11 (Itaú Asset): -0.51%
SPXR11 declined 0.51%. The fund tracks S&P 500 futures through a Brazilian real quanto structure, reducing the direct influence of currency changes on returns.
The S&P 500 fell 0.58% to 7,592 points. Higher oil prices and rising Treasury yields increased inflation concerns, while producer-price data reinforced expectations of higher US interest rates.
Because the quanto structure is designed to isolate US equity-market performance, SPXR11’s decline remained close to the index’s loss. It also outperformed SPXI11, which faced additional pressure from the currency movement.
SPXR11 is down 1.12% for the week and 1.22% for the month. Despite recent weakness, it remains up 17.36% for the year and 27.31% over 12 months.
SPXI11 (Itaú Asset): -0.75%
SPXI11 declined 0.75%. Like SPXR11, the fund tracks large US companies, but it also incorporates changes in the US dollar against the Brazilian real.
The S&P 500’s 0.58% decline was combined with a weaker dollar in the Brazilian market. This currency effect helps explain why SPXI11 lost 0.24 percentage point more than SPXR11.
The difference illustrates the impact of currency exposure. SPXR11’s quanto structure concentrated its return on the US index movement, while SPXI11 also reflected the dollar’s decline against the real.
SPXI11 is down 2.17% for the week and 2.21% for the month. It remains up 2.99% for the year and 10.16% over 12 months.
WRLD11 (Investo): -0.95%
WRLD11 declined 0.95%. The fund replicates the Vanguard Total World Stock ETF, known by the ticker VT, and provides exposure to approximately 10,000 companies across developed and emerging markets.
The United States represented 62.04% of the portfolio, followed by Japan, the United Kingdom, Taiwan, Canada and China. The largest holdings included Nvidia, Apple, Microsoft, Amazon, Alphabet, Broadcom, Taiwan Semiconductor and Meta Platforms.
The large US allocation transmitted the S&P 500’s decline to the fund. Losses in other developed markets and weaker Chinese equities added pressure, while the stronger Brazilian real reduced international returns when converted into local currency.
WRLD11 is down 2.34% for the week and 1.71% for the month. It remains up 4.40% for the year and 11.27% over 12 months.
PKIN11 (Bradesco Asset): -1.24%
PKIN11 declined 1.24%. The fund provides exposure to large Chinese companies included in the CSI 300, which consists of stocks traded in Shanghai and Shenzhen.
The CSI 300 fell 0.53%, from 4,572.60 to 4,548.39 points. Next-quarter index futures also declined, from 4,397.60 to 4,378.80 points.
The decline in Chinese equities was amplified in the local share price by the difference between Chinese trading hours and price formation on the B3. The result also reflected the fund’s structure and possible differences between its market price and net asset value.
PKIN11 is down 1.90% for the week, 3.85% for the month and 7.38% for the year. It remains up 0.63% over 12 months.
IVWO11 (Investo): -1.75%
IVWO11 posted the group’s largest decline, losing 1.75%. The fund replicates the Vanguard FTSE Emerging Markets ETF, traded in the United States under the ticker VWO, and holds approximately 6,000 companies across more than 20 emerging economies.
Taiwan represented 30.80% of the portfolio, China 27.60% and India 17.00%. The largest holdings included Taiwan Semiconductor at 14.93%, Tencent at 3.18%, Alibaba at 2.32% and MediaTek at 1.30%.
Taiwan and China together represented 58.40% of the geographic exposure. Weakness in Chinese equities, pressure on international technology stocks and a stronger Brazilian real pushed the ETF to the bottom of the ranking.
IVWO11 is down 2.96% for the week and 0.79% for the month. Annual and 12-month returns were not yet available in the dataset.
Exclusive DEX PRO data. This content is provided for informational purposes only and does not constitute a recommendation to invest in, buy or sell any asset.
