The Brazil Broad-Based Index (IBrA) is compiled as a weighted average of a theoretical portfolio of stocks pursuant to criteria set forth in this methodology.
The indices compiled by BM&FBOVESPA adopt concepts and practices set forth in the Concepts and Practices Manual for BM&FBOVESPA Indices.
The IBrA is designed to gauge the stock market’s average performance tracking changes in the prices (by round lots) of all stocks actively traded on the cash market operated by BM&FBOVESPA (as long as certain minimum liquidity and active trading criteria are met), so as to offer a broad-based view of the stock market as a whole.
The IBrA is a total return index (see the Concepts and Practices Manual for BM&FBOVESPA Indices).
The IBrA is composed exclusively of shares and units representing shares of BM&FBOVESPA-listed issuers that meet the inclusion criteria set forth below.
The index universe excludes Brazilian Depositary Receipts (BDRs) and shares of issuers under judicial or extrajudicial reorganization, government- or court-ordered administration or intervention, as well as shares otherwise designated to be under exceptional trading status (see the Concepts and Practices Manual for BM&FBOVESPA Indices).