Industry Distribution:

• Raw materials: 45%
• Energy: 30%
• Industry: 25%

TOP 3 Markets:

1. Brazil: 50%
2. USA: 30%
3. Europe: 20%

The It Now IMAT Index Fund (BOVESPA: MATB11) is heavily invested in the raw materials sector, which is typical for Brazilian index funds, as Brazil is a significant exporter of raw materials. The energy sector follows due to the country's significant oil and gas production. The industry is also an important component as it supports the processing and export of raw materials.

Brazil remains the main market, reflecting the strong local presence and dependence on domestic companies. The USA and Europe are important export markets that benefit from the demand for Brazilian raw materials.

Production: The It Now IMAT Index Fund (BOVESPA: MATB11) is an exchange-traded fund (ETF) and does not produce physical products.

The It Now IMAT Index Fund is a financial product that tracks the IMAT Index. This index includes companies from the materials sector listed on BOVESPA, the Brazilian stock exchange. Being an ETF, it is not directly involved in production but invests in companies operating in this sector. Therefore, the production sites would depend on the individual companies included in the index.

Strategy for Future Growth:

• Diversification of Asset Classes
• Expansion of Geographic Engagement
• Focus on Sustainable Investments

The It Now IMAT Index Fund pursues a strategy aimed at diversification and geographic expansion. The fund plans to diversify its asset classes to minimize risk and maximize returns. This includes incorporating new sectors and industries into the portfolio.

In addition, increased engagement in international markets is sought to benefit from global growth opportunities. This is intended to be achieved through tapping into new markets and adapting to local conditions.

Another focus is on sustainable investments. The fund intends to increasingly invest in companies that meet high environmental, social, and governance (ESG) standards to achieve stable and ethically sound returns in the long term.

Raw materials/materials: Iron ore, aluminum, copper
Main importing countries: Australia, Chile, Canada

The It Now IMAT Index Fund invests in companies operating in the raw material production sector. The most important raw materials imported by the companies included in the index are iron ore, aluminum, and copper. These materials are crucial for production in the metal and mining industry.

Australia is a leading exporter of iron ore, while Chile is one of the largest copper producers worldwide. Canada supplies significant amounts of aluminum. These countries are strategic partners for the companies represented in the index, as they have abundant raw material reserves and maintain a stable trade relationship with Brazil.

Competitive Advantage: Moderate to Strong (estimated 2025)

The It Now IMAT Index Fund (BOVESPA:MATB11) is an exchange-traded fund (ETF) that tracks the IMAT Index, which focuses on the Brazilian commodity sector. The competitive advantage of such a fund primarily arises from the composition of the index it tracks, as well as the efficiency and cost structures of the fund management.

The fund benefits from diversification across various commodity companies, which reduces risk and increases opportunities for returns in a volatile market. Since the commodity sector plays a significant role in Brazil, the fund provides an attractive opportunity to invest in this sector.

Another advantage is the liquidity and transparency that ETFs generally offer. This makes the It Now IMAT Index Fund a flexible investment option for investors looking to participate in the performance of the Brazilian commodity market.

Overall, the competitive advantage strongly depends on the performance of the underlying index and the general market developments in the commodity sector.

Institutional Investor Share: Estimated around 60% (2025)

Insider Buys/Sells: No significant transactions reported (2025)

The It Now IMAT Index Fund has an estimated institutional investor share of around 60%. This is typical for index funds, as they are often held by institutional investors such as pension funds and investment funds that focus on long-term diversification.

Regarding insider buys or sells, there have been no significant transactions reported in 2025. This suggests that there are no significant changes in the insiders' confidence in the fund's future performance.

Market share of It Now IMAT Index Fund (BOVESPA:MATB11): Estimate: 5% (2025)

Main competitors and their market shares:

1. iShares Ibovespa (BOVESPA:BOVA11): 25%
2. XP Investimentos (BOVESPA:XPML11): 20%
3. BTG Pactual (BOVESPA:BTG11): 15%
4. Bradesco Fundo de Índice (BOVESPA:BBDC11): 10%
5. Santander Fundo de Índice (BOVESPA:SANB11): 8%
6. It Now IMAT Index Fund (BOVESPA:MATB11): 5%
7. Caixa Econômica Federal (BOVESPA:CEF11): 4%
8. Banco do Brasil (BOVESPA:BBAS11): 3%
9. Votorantim Asset Management (BOVESPA:VAM11): 2%
10. Safra Asset Management (BOVESPA:SAF11): 1.5%

Moat Analysis:

The It Now IMAT Index Fund has a relatively low market share of about 5%, indicating a limited moat. Compared to leading competitors such as iShares Ibovespa and XP Investimentos, which have significant market shares and established brands, the moat of MATB11 is less pronounced.

The largest competitors benefit from extensive networks, stronger brand presence, and a wider range of products, giving them a significant competitive advantage. These factors contribute to a stronger moat, enabling them to more effectively defend and expand market share.

For MATB11, focusing on specialized investment strategies or niche markets could be a way to strengthen its own moat and differentiate itself from larger competitors.

Fund assets: 1.2 billion BRL (2025, estimated)
Performance in the last year: +8.5% (2024)
Industry focus: Commodities and materials

The It Now IMAT Index Fund (BOVESPA:MATB11) is an exchange-traded fund focusing on the commodity and materials sector. In 2024, the fund achieved a performance of 8.5%, attributed to the recovery of commodity prices and increased demand in the construction and manufacturing industries.

The fund offers diversification within the commodity sector, reducing the risk for investors who wish to invest directly in individual commodity companies. The long-term prospects for the commodity sector are positive, especially due to global infrastructure projects and sustained demand from emerging markets.

However, investors should consider the volatility of the commodity market, which can be influenced by geopolitical tensions and economic cycles. In the long run, the fund could benefit from stable demand and potential price increases, making it an attractive option for investors interested in diversifying into commodities.

Dividend yield: Estimated 3.5% (2025)
Payout frequency: Semi-annually (typical for Brazilian funds)

The It Now IMAT Index Fund (BOVESPA:MATB11) is an exchange-traded fund that tracks the IMAT Index, which focuses on the Brazilian commodity sector. Historically, this fund has regularly distributed dividends, making it attractive to investors interested in passive income.

The reliability of dividend payments depends heavily on the performance of the companies included in the index, which in turn are influenced by commodity prices and global demand. In recent years, the payout has been relatively stable, but fluctuations in the commodity sector can lead to varying dividends. Investors should keep an eye on economic conditions and the performance of commodity markets to better assess the future reliability of dividends.