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The decline in technology ETFs on October 5 did not align with a widespread downturn among their major underlying stocks abroad. Nvidia, TSMC, and Broadcom finished the session higher, but the US dollar fell 4.12% against the Real, weighing on the value of international portfolios when converted into Brazilian currency.
CHIP11 fell 4.19%, NASD11 dropped 2.95%, and TECK11 lost 3.46%. HTEK11, whose exposure is concentrated in healthcare technology, registered a smaller decline of 0.97%.
The session highlighted two separate performance drivers that must be analyzed together: underlying company performance in home markets and foreign exchange impact on Brazilian share prices.
CHIP11 (Investo): -4.19%
CHIP11 offers exposure to the VanEck Semiconductor ETF (SMH), which gathers chipmakers, semiconductor design firms, and industry equipment suppliers. In recent portfolio weightings, Nvidia represented 19.44%, TSMC 9.44%, AMD 5.52%, and Broadcom 5.15%. Combined, these four positions accounted for 39.55% of the target ETF.
Movements among these stocks varied. Nvidia gained 2.12%, TSMC advanced 2.75%, and Broadcom rose 2.08%, while AMD slipped 0.34%. Applied Materials, an equipment manufacturer with a 4.72% weighting, finished up 0.41%. Therefore, the decline in the Brazilian ETF share price occurred during a session with positive contributions from several key holdings, offset by the negative impact of currency conversion.
The contrast with year-to-date performance remains striking: CHIP11 maintained a 58.39% gain YTD, alongside an 8.69% rise over one month. The expansion of artificial intelligence infrastructure provides a concrete backdrop for this trajectory. In its second fiscal quarter of 2027, ending in July, Nvidia reported revenue of $96.2 billion, up 106% year-over-year. The data center division generated $89 billion, representing 117% growth. These results demonstrate the scale of demand benefiting a significant portion of the semiconductor portfolio.
NASD11 (XP Asset): -2.95%
NASD11 tracks the Nasdaq-100, which combines major technology companies with communications, consumer, and other sectors.
Nvidia and Microsoft, with gains of 2.12% and 1.48% respectively, posted favorable moves, while Apple fell 0.24%. Nevertheless, the drop in the US dollar weighed on BRL asset conversion and contributed to the ETF’s negative return.
NASD11 accumulated 2.90% over one month and 11.52% year-to-date. The performance gap relative to CHIP11 reflects distinct asset allocations: the Nasdaq-100 participates in technology growth but distributes assets across businesses with diverse revenue streams and varying sensitivity to AI infrastructure expansion.
TECK11 (Itaú Asset): -3.46%
TECK11 tracks the NYSE FANG+ Index, concentrated across ten major companies with equal weightings on rebalancing dates. Portfolio constituents include Nvidia, Broadcom, Microsoft, and Apple, alongside digital platform, software, and tech firms.
The equal-weighted design alters each stock’s contribution to fund performance. At rebalancing, each constituent receives a 10% weight, ensuring moves across individual companies carry more balanced importance than in a market-cap weighted index. During the session, gains in Nvidia, Broadcom, and Microsoft faced negative drag from Apple and adverse currency translation.
The fund closed the day down 3.46%, bringing one-month returns to 0.95% and YTD gains to 10.58%.
HTEK11 (Itaú Asset): -0.97%
HTEK11 tracks the Morningstar US Exponential Technologies Healthcare Index, focusing on technologies and innovation applied to healthcare. Its portfolio features growth drivers tied to pharmaceuticals, biotechnology, and treatment development, distinct from chip investments and computing infrastructure.
Among companies in the August disclosed portfolio, AbbVie advanced 1.12% on October 5, while Amgen remained nearly flat at -0.01%.
The fund fell 0.97% on the day, but accumulated 4.62% over one month and 27.23% year-to-date.
Informational content, not an investment recommendation. Past performance is no guarantee of future results.
