Brazil sees record retail investor inflows into exchange-traded funds

Brazil’s ETF market is having its moment. The number of retail investors holding exchange-traded funds on B3, the country’s stock exchange, has surged to roughly 929,000 as of August 2026. That’s a 39% jump from a year earlier, and it represents the kind of acceleration that exchange executives are calling an “inflection point” for the industry. Total assets under management in the ETF space have climbed to R$142 billion, a figure that has nearly tripled over the past two years. Even now it accounts for only about 1% of the country’s broader fund industry. A product lineup that’s expanding fast The number of locally issued ETFs on B3 has grown to 219, a 55% increase year over year. On top of that, investors can access 312 Brazilian Depositary Receipts of international ETFs, giving them exposure to foreign markets without the hassle of opening overseas brokerage accounts. The momentum has been building throughout 2026. By June, the market had already attracted around 870,000 investors and R$126 billion in AUM, powered by R$30.5 billion in net inflows for the first half of the year alone. Why Brazilians are warming up to passive investing Lower fees are the most obvious driver. Brazi...