Summary
Highlights
The B3 has launched the XSPI11, an ETF offering 1.5x exposure to the S&P 500 with monthly dividend payments. This new ETF, from Buenavista, began trading on April 7, 2026. This video will cover its features, compare it to SPYI11, discuss costs, and suggest ideal portfolio allocations.
The 'boosted' strategy of XSPI11 allows for leveraged exposure to an asset while generating monthly income through covered calls. Unlike traditional leveraged ETFs, it merges income generation with increased exposure to asset appreciation. While SPYI11 limits upside movement, XSPI11 allows investors to capture more of the S&P 500's growth while still executing covered calls for synthetic dividends. The 1.5x boost is achieved through a combination of selling puts and buying calls, a bullish options strategy.
XSPI11 is more expensive than SPYI11, with a nearly 1% annual fee compared to SPYI11's 0.83%. Additionally, XSPI11 offers less predictability in annual yield compared to SPYI11, where covered call strategies make yield forecasting easier. XSPI11 is better suited for investors who are more optimistic about the S&P 500's performance, as it provides 150% exposure. Conversely, SPYI11 is for those prioritizing income over aggressive asset exposure, typically performing best in sideways markets.
The S&P 500 is diversified but concentrated in a few large-cap tech companies, making it unsuitable as a 'neutral base' ETF. Diversification across geographies and maintaining a maximum allocation of 20% to XSPI11 is recommended. Over-reliance on a single geography, such as the US, with a high percentage like 25% or more, is not advisable, especially for investors looking for growth outside of established markets like Asia ex-China.
XSPI11 debuted strongly, closing at R$100.17 with a good trading volume of 3,000 contracts. The presenter anticipates its success. For those interested in investing, the video recommends using Touro for zero brokerage on ETFs and access to a course on long-term investment analysis, particularly useful for accumulation ETFs like DIVO11 or BOVA11.