Smart Fit Joins Brazil’s Benchmark Ibovespa Stock Index

Brazil · Markets

Key Facts

—First-time inclusion Low-cost gym chain Smart Fit joined Brazil’s benchmark Ibovespa index for the first time since its 2021 IPO, effective May 5, 2025.

—Index liquidity boost Being listed on the most-traded index typically attracts automatic investment from funds and ETFs, boosting a stock’s daily trading volume.

—BTG’s buy thesis Analysts at BTG Pactual maintain a buy rating, citing Smart Fit’s unmatched scale, improving margins, and a fragmented market ripe for consolidation.