How to use the fixed income comparator
- Enter the amount you want to invest
- Enter the term in calendar days
- Fill in the rates for each option (Fixed Rate, %CDI, IPCA+, Selic)
- Enter your expectations for CDI and IPCA for the period
- Optionally, add custody fee if applicable
What is the fixed income comparator?
The fixed income comparator allows you to compare different types of fixed income investments considering taxes (regressive IR and IOF) and inflation.
It calculates the net final value of each option and the real return (discounting expected inflation), allowing a fair comparison between fixed-rate, floating-rate, and inflation-indexed investments.
The ranking shows which option offers the best net real return, helping you make more informed investment decisions.
Frequently Asked Questions
How does regressive IR calculation work?
Regressive IR varies by term: up to 180 days (22.5%), up to 360 days (20%), up to 720 days (17.5%), and above 720 days (15%). The tax is calculated on profit after deducting IOF, if applicable.
When is IOF applied?
IOF is only applied to redemptions with a term of less than 30 days. The rate decreases progressively from day 1 (96%) to day 29 (3%), being zero from day 30 onwards.
What does 'real return' mean?
Real return is the net return discounting expected inflation (IPCA). It shows the real purchasing power of the investment, i.e., how much you actually gained above inflation.
How does IPCA+ calculation work?
IPCA+ combines inflation (IPCA) with a real spread. For example, IPCA+5% means you receive IPCA plus 5% per year. The calculation considers both components in daily compounding.
Why use calendar days instead of business days?
We use calendar days and base 365 to simplify comparison. Although some investments use different conventions (such as 252 business days), our approach allows a consistent comparison between all options.
Important Notice
This calculator is a simulation tool and does not constitute investment advice. Results are based on market expectations and may vary. Always consult a qualified professional before making investment decisions.