BTG Pactual Launches Tevacol ETF in Colombia

Banco BTG Pactual launched the Tevacol exchange-traded fund on the Colombian stock exchange on Thursday, 10 September 2026. The new vehicle provides exposure to the 13 most liquid stocks in the Colombian equity market.

The basket undergoes rebalancing twice a year. Camilo Aristizabal, CIO of BTG Pactual Colombia, explained that the product aims to deliver more investment alternatives to Colombian retail investors and diversify risk across multiple issuers.

Tevacol will compete with existing instruments such as the iColcap fund, which tracks Colombia's benchmark stock index. Aristizabal noted that Tevacol holds fewer issuers and caps its largest constituent at a maximum weight of 25%. In contrast, the most prominent stock in competing funds accounts for up to 40%.

The fund does not distribute dividends, which Aristizabal highlighted as a potential tax advantage. Brazilian index provider Teva created the methodology and rules used by BTG Pactual for the index.