Does the Caixinha Nubank pay IOF in the first 30 days?

Yes. Because it holds a CDB, redemptions within 30 days incur IOF on the yield, plus income tax on the regressive table starting at 22.5%.

Is GPOS11 covered by the FGC?

No, and it does not need to be. The fund holds Brazilian government bonds with sovereign guarantee, so the FGC's R$250,000-per-institution limit does not apply.

How fast can I get money out of GPOS11?

You sell on the exchange and receive funds at D+1, the next business day after the sale. A Friday sale settles the following Monday.

Why does the ETF reach the 15% tax rate immediately?

Its tax depends on the fund's average repricing term, the PMR, reported at 885 days thanks to the 10% long-bond slice, which exceeds the 720-day threshold for the 15% rate.

Which option won over 10 years in the video?

GPOS11, at R$44,833 on a R$20,000 investment, ahead of Tesouro Selic at R$43,378, the Caixinha at R$43,052 and a 90%-of-CDI CDB at R$36,305, per the video's own spreadsheet.

Caixinha Nubank vs Tesouro Selic: Which Wins?

For a Brazilian emergency fund, the video's own simulation finds GPOS11 ahead over 10 years, with Tesouro Selic close behind and a big-bank CDB at 90% of CDI trailing badly. Caixinha Nubank vs Tesouro Selic is close on yield; taxes and protection decide the rest.

Caixinha Nubank vs Tesouro Selic at a glance

In the video's simulation, Tesouro Selic narrowly beats the Caixinha Nubank: R$20,000 grows to R$43,378 in the Selic Treasury versus R$43,052 in the Caixinha over 10 years, with GPOS11 at R$44,833 and a 90%-of-CDI CDB at R$36,305 — so the race is close, but Selic edges ahead.

These figures come from the video's own simulation, published in October 2026 by Thiago Nigro of the Grupo Primo channel O Primo Rico, and they are first-party calculations, not independent audit results.

The four options serve the same goal, an emergency fund, but differ on yield benchmark, tax treatment and credit protection:

Option	Net CDI (video simulation)	Tax on redemption	Credit protection
Caixinha Nubank	90.5%	IOF plus regressive IR	FGC, up to R$250k
Tesouro Selic	90.8%	IOF plus regressive IR	Federal government
GPOS11 ETF	90.8%	15% via fund PMR	Federal government bonds
Big-bank CDB (90% CDI)	81%	IOF plus regressive IR	FGC, up to R$250k

Nubank is a digital bank and its Caixinha holds a CDB, which is why it falls under the FGC. The Tesouro Selic is the LFT government bond bought through Tesouro Direto. GPOS11 is an ETF listed on B3, the Brazilian exchange.

Why the ETF mixes 90% Selic and 10% IPCA+

The ETF blends roughly 90% Selic and 10% IPCA+ to capture a modest return boost from inflation-linked bonds while keeping volatility near that of pure Tesouro Selic. A small IPCA+ slice raises expected return faster than it adds risk, because the two bond types move almost independently of each other.

The 10% IPCA+ slice exists because inflation-linked bonds beat CDI more often as the holding period grows. The video reports that NTN-B bonds beat CDI in 52% of one-year windows, 62% of five-year windows and 89% of ten-year windows, with an average spread of about 2.51 percentage points over ten years. Those are historical backtest figures presented by the creator.

The problem with going 100% into NTN-B is volatility. The video measures NTN-B volatility at 12.5%, roughly 59 times the 0.21% it reports for CDI and LFT, and notes drawdowns near 30% for the NTN-B 2045 bond. Mixing matters because the correlation between Tesouro Selic and Tesouro IPCA+ is given as 0.012, so adding a small inflation-linked slice raises return faster than risk. The video's chosen blend is about 90% Selic and 10% IPCA+, the composition behind GPOS11.

How taxes change the short-term answer

Taxes are where GPOS11 pulls ahead in the short term. A CDB or the Caixinha redeemed within 30 days incurs IOF, and income tax follows a regressive table starting at 22.5%, as detailed by the Brazilian Federal Revenue Service. An ETF charges tax based on the fund's average repricing term, the PMR, not on how long you held the share.

Because GPOS11 keeps a 10% long-bond slice, the video states its PMR averages 885 days, above the 720-day threshold where the rate drops to 15%. The result in the video's 15-day scenario: the Caixinha keeps only 37% of CDI and Tesouro Selic 36.8%, while GPOS11 keeps 85.7%, since exchange-traded redemption carries no IOF and the 15% minimum rate applies from day one.

FGC protection and the R$20 million problem

The FGC, Brazil's Credit Guarantee Fund, covers up to R$250,000 per CPF per institution. The video opens with a friend holding R$20 million in a single CDB; if that bank failed, under 2% of her wealth would be protected. Spreading deposits across institutions is the only way to extend FGC coverage.

Tesouro Selic and GPOS11 avoid this limit entirely because both hold Brazilian government bonds with sovereign guarantee. That is a structural advantage for large balances, independent of yield.

Liquidity and how to actually buy

GPOS11 trades on B3 like a stock. You sell the shares through your brokerage's home broker and the money arrives at D+1, the next business day. The video suggests keeping a small slice of the reserve in an instant-redemption product and the bulk in GPOS11.

The trade-off the video names is custody cost: it claims the ETF's fee is about half the custody fee of Tesouro Selic. Verify the current fee schedule on the fund's page before relying on that, since ETF fees change and this figure comes from the issuer's own materials, Grupo Primo.

What the numbers do and do not prove

Every simulation result here comes from one video's spreadsheet, dated October 2026, built by Thiago Nigro's team, with preparation support credited to contributors including Gustavo dev doido. Nobody has independently reproduced the projections, and past NTN-B versus CDI statistics are backtests, not guarantees. The direction of the argument, that tax treatment and the 90/10 mix favor GPOS11 over long horizons, is internally consistent, but treat the specific reais figures as scenario outputs under assumed CDI paths.

The creator's claim that GPOS11 will become synonymous with emergency funds is marketing, not evidence. The defensible conclusions are narrower: avoid big-bank CDBs at 90% of CDI for reserves, mind the FGC ceiling on large balances, and check whether the ETF's PMR-based tax advantage fits your own holding period.

FAQ

Does the Caixinha Nubank pay IOF in the first 30 days? Yes. Because it holds a CDB, redemptions within 30 days incur IOF on the yield, plus income tax on the regressive table starting at 22.5%.

Is GPOS11 covered by the FGC? No, and it does not need to be. The fund holds Brazilian government bonds with sovereign guarantee, so the FGC's R$250,000-per-institution limit does not apply.

How fast can I get money out of GPOS11? You sell on the exchange and receive funds at D+1, the next business day after the sale. A Friday sale settles the following Monday.

Why does the ETF reach the 15% tax rate immediately? Its tax depends on the fund's average repricing term, the PMR, reported at 885 days thanks to the 10% long-bond slice, which exceeds the 720-day threshold for the 15% rate.

Which option won over 10 years in the video? GPOS11, at R$44,833 on a R$20,000 investment, ahead of Tesouro Selic at R$43,378, the Caixinha at R$43,052 and a 90%-of-CDI CDB at R$36,305, per the video's own spreadsheet.

Turn this kind of video into a written guide

A spreadsheet walkthrough like this one is exactly the kind of content that gets lost in a 12-minute video: the tables, the tax logic and the caveats deserve a page readers can scan and cite. If you produce videos like O Primo Rico's comparison, Skala Blog turns a YouTube URL into a transcription and then into a structured article, keeping your numbers and your argument intact so your audience can find the answer without scrubbing a timeline.

Source video