Brazilian equities posted strong gains in the first quarter of 2026, supported by higher commodity prices, resilient domestic demand, and improving fiscal expectations.
The Global X Brazil Active ETF gained 18.07% (NAV return) in the first quarter, taking 12-month returns up to 55.58%.
Sector positioning and stock selection within energy and financials drove positive attribution.
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The MSCI Brazil Index (Net) continued to show momentum and advanced over 19% in the first quarter,1 as allocators appeared to see value in single-digit valuation multiples, commodity exposure, easing monetary policy, and a meaningful political calendar.
