Brazil’s Shopping Mall FIIs (Fundos de Investimento Imobiliário) offer investors exposure to one of the most established segments of the country’s real estate market. These funds typically hold equity stakes in large, income-generating shopping centers across Brazil, providing attractive yields and inflation-linked rental contracts. On this page, you’ll find a sortable comparison of key metrics, including dividend yields, market caps, and price-to-book values for every Shopping Mall FII in the IFIX, along with links to fund overviews and in-depth analyses.
Shopping FIIs are one of the largest components of both the HERT11 ETF and IFIX index.
The median dividend yield of Shopping Mall FIIs in the IFIX is 10.88% and the median book value is 0.80x.
This information was last updated on July 4, 2025, and is for educational purposes only. Dividend yields are based on distributions during the trailing 12 months.
For more on how I choose high-quality Brazilian REITs (FIIs), check out my FII guide, or explore the FII managers behind the funds on this list.
Shopping Mall FIIs in the IFIX
| Ticker | Manager | IFIX % | M Cap. | Div % | P/BV | Overview |
|---|---|---|---|---|---|---|
| XPML11 | XP Asset Management | 4.241% | R$5.9B | 10.57% | 0.89 | Read |
| VISC11 | Vinci Partners | 2.125% | R$3.0B | 9.41% | 0.83 | Read |
| HGBS11 | Hedge Investments | 1.791% | R$2.6B | 9.91% | 0.90 | Read |
| HSML11 | HSI Investimentos | 1.257% | R$1.8B | 10.30% | 0.78 | Read |
| MALL11 | Genial | 1.016% | R$1.4B | 9.64% | 0.84 | |
| GZIT11 | Gazit Asset | 0.727% | R$1.0B | 20.13% | 0.51 | |
| CPSH11 | Capitania Investimentos | 0.551% | R$0.8B | 12.58% | 0.82 | |
| BBIG11 | BB Asset | 0.502% | R$0.7B | 14.15% | 0.75 | |
| BPML11 | BTG Pactual | 0.426% | R$0.6B | 17.18% | 0.61 | |
| AJFI11 | Capitania Investimentos | 0.165% | R$0.2B | 11.18% | 0.60 |
📝 Fund Deep Dives
For a closer look at two of the top-performing Shopping Mall FIIs, explore my in-depth analyses below:
- XPML11 Deep Dive: A comprehensive breakdown of XP Malls, covering dividend profile, acquisitions, and long-term strategy.
- HGBS11 Deep Dive: An in-depth review of HGBS11’s assets, yield sustainability, and valuation relative to peers.
These deep dives go beyond surface-level metrics to assess management quality, tenant mix, and forward-looking risks.