$ITUB vs $XP: Weighing a Stable Brazilian Bank Against a Growth-Oriented Platform ITUB is a diversified universal bank, while XP is an asset-light investment platform and brokerage — two very different business models within Brazil's financial sector. Both names rallied sharply in recent weeks after Brazil's first-round presidential election, though XP posted a much larger single-session surge than ITUB, reflecting higher sensitivity to capital-markets sentiment. ITUB offers a substantial dividend yield and very low volatility (beta near 0.1), appealing to income-focused investors; XP offers faster growth potential but carries greater price swings.