This wave of the Brazilian market is indeed fierce, and the premium rate of related ETFs has also started to rise recently. I remember when this product was first launched, it was extremely popular on the first day, but by the second day the premium had returned to a more rational level—that’s when I felt it was a good allocation opportunity.

Interestingly, there still aren’t that many people in the market paying attention to it. This product has shown pretty solid performance. While the Nasdaq has been a bit weak lately, it’s still climbing steadily. Of course, the volatility of this kind of emerging market ETF is always there, but looking at its performance over certain periods, it has definitely delivered some pleasant surprises.

The premium rate is a metric worth watching. Now that positive premiums are starting to appear, it shows that capital inflows are accelerating. That said, any investment needs to match your own risk tolerance. With a single-market product like Brazil, concentration is high, so proper position management is key.