Financial investments
a comparative study between fixed income and variable income
DOI:
https://doi.org/10.12662/2359-618xregea.v14i2.p187-209.2025Keywords:
economy, financial investments, fixed income, variable income, diversification, investor profileAbstract
This article aims to characterize and compare fixed and variable income securities by means of a review and, subsequently, to analyze the behavior of the yield in relation to the investor profile using a hypothetical practical case study. Finally, considerations are made about the relevance of asset diversification. Among the results, we highlight the wide variety of fixed and variable income securities, which meet different objectives, whose main characteristics include risks, terms, liquidity, profitability, minimum value, guarantees, nomenclature, and issuance; the trade-off relationship between risk and return; the small disparity between fixed and variable income products, influenced by the interest rates practiced in the country; the potential of leverage to generate higher returns, although this compromises the security of the invested resources, due to the risk concentrated in a few assets; and the relevance of capital diversification and knowledge of the investor profile. The findings reinforce the fundamental principle of investments: higher returns are intrinsically linked to higher risk, exposing investors to greater volatility in the search for higher yields. In the case analyzed, the disparity in profitability between assets, with the exception of cryptocurrencies and gold, is mitigated by high interest rates, which boost fixed-income returns. Although variable income usually presents higher returns, this scenario may change depending on current monetary policy.
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