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IBOV

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+1.42%

USD/BRL

5.6412

-0.38%

SELIC

14.25 % a.a.

+0.50pp

IPCA 12M

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Analysis2/20/2026·10 min read

Global allocation from Brazil: hedged vs. unhedged strategies

How currency hedging changes the risk-return profile of international ETFs for BRL-based investors.

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Latest Posts

Analysis2/20/2026

Global allocation from Brazil: hedged vs. unhedged strategies

How currency hedging changes the risk-return profile of international ETFs for BRL-based investors.

10 min read↑ 290 reads

Analysis2/28/2026

Fixed income ETFs: when IMAB11 beats direct NTN-B

Scenarios where the inflation-linked bond ETF outperforms buying Tesouro Direto individually, factoring in liquidity and mark-to-market.

9 min read↑ 312 reads

Analysis3/5/2026

Sector rotation: timing the Ibovespa with macro indicators

Using SELIC cycles and PMI data to tilt sector exposure between financials, commodities, and utilities.

13 min read↑ 387 reads

Analysis3/10/2026

Dividend ETFs: DIVO11 vs. BBSD11 head-to-head

A side-by-side comparison of Brazil's two most popular dividend ETFs across yield, volatility, and tax efficiency.

11 min read↑ 445 reads

Opinion3/15/2026

The problem with most "diversified" portfolios in Brazil

Why the typical 60/40 allocation doesn't translate well to the Brazilian market, and what a locally-optimized split looks like.

9 min read↑ 623 reads

System Review3/20/2026

HASH11: one year in — was it worth it?

A retrospective on the crypto ETF after 12 months of live performance. Tracking error, liquidity, and correlation with traditional assets.

7 min read↓ 104 reads

Technical3/25/2026

Automating rebalance alerts with Python and B3 data

A step-by-step guide to building a portfolio drift monitor that pings you when allocations deviate beyond your target bands.

15 min read↑ 891 reads

Macro3/30/2026

What the yield curve is telling us about 2026 H2

DI futures are pricing in rate cuts starting August. We analyze the curve shape, historical precedents, and what it means for asset allocation.

6 min read↑ 276 reads

Analysis4/4/2026

Local vs. Cloud API: cost drag analysis

A quantitative breakdown of the total cost of owning local infrastructure versus using cloud APIs directly, including latency, egress, and maintenance implications.

10 min read↑ 518 reads

Strategy4/7/2026

Building a component-based architecture with local modules

How to construct a multi-module system using only local components, targeting reliability, momentum, and low-latency premiums.

8 min read↑ 342 reads

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