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AUSF

Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 380 Mid-Cap Value funds, based on risk-adjusted returns as of 03/31/2024

 

Reasons to Consider AUSF

Outperformance Potential

AUSF seeks to outperform traditional market capitalization weighted indexes by allocating across three factors – minimum volatility, value, and momentum – that have historically demonstrated advantages compared to broad benchmark indexes.

Dynamic Factor Allocation

AUSF either allocates to two factors with a 50% / 50% weighting, or all three factors with a weighting of 40% / 40% / 20% depending on the trailing returns of each factor.

Tax Efficient

Dynamically allocating across multiple factors within one ETF can result in tax efficiencies compared to buying and selling individual factor ETFs.

Key Information As of 05/02/24

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $247.30 million
NAV $39.07
Fact Sheet View the document

ETF Summary

The Global X Adaptive U.S. Factor ETF (AUSF) seeks to outperform traditional cap-weighted indexes by employing a dynamic multi-factor investment strategy that allocates across three factors: minimum volatility, value, and momentum.

ETF Objective

The Global X Adaptive U.S. Factor ETF (AUSF) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Adaptive Wealth Strategies® U.S. Factor Index.

Trading Details As of 05/02/24

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 6,330,002
Number of Holdings 191
30-Day Median Bid-Ask Spread 0.25%

Distributions As of 05/02/24

30-Day SEC Yield 2.77%
Distribution Frequency Quarterly

ETF Prices As of 05/02/24

NAV $39.07 Daily Change $0.12 0.31%
Market Price $39.12 Daily Change $0.21 0.54%

Performance History

As of recent
(03/31/24)
As of recent
(03/31/24)
Fund NAV Market Price Index
1 Year 37.68% 37.74% 38.28%
3 Years 15.43% 15.28% 15.80%
5 Years 14.31% 14.27% 14.68%
Since Inception 12.45% 12.42% 12.82%
1 Year 29.67% 29.58% 30.19%
3 Years 12.22% 12.19% 12.58%
5 Years 12.53% 12.49% 12.89%
Since Inception 11.32% 11.30% 11.69%
Year-to-Date 10.58% 10.44% 10.71%
1 Month 4.68% 4.47% 4.72%
3 Months 10.58% 10.44% 10.71%
Since Inception 93.02% 92.79% 96.63%
Year-to-Date 5.44% 5.34% 5.57%
1 Month -4.64% -4.62% -4.64%
3 Months 3.66% 3.44% 3.78%
Since Inception 84.06% 83.87% 87.50%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Top Holdings As of 05/02/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
1.90 VZ VERIZON COMMUNIC 2090571 38.93 120,724 4,699,785.32
1.78 IBM IBM 2005973 164.69 26,666 4,391,623.54
1.71 T AT&T INC 2831811 16.82 251,111 4,223,687.02
1.53 JNJ JOHNSON & JOHNSON 2475833 149.92 25,289 3,791,326.88
1.53 TMUS T-MOBILE US INC B94Q9V0 164.91 22,868 3,771,161.88
1.51 MRK MERCK & CO. INC. 2778844 128.26 29,201 3,745,320.26
1.51 LMT LOCKHEED MARTIN CORP 2522096 463.20 8,044 3,725,980.80
1.50 ACI ALBERTSONS COS-A BYNQ369 20.72 178,795 3,704,632.40
1.50 BRK/B BERKSHIRE HATH-B 2073390 400.60 9,234 3,699,140.40
1.50 GD GENERAL DYNAMICS CORP 2365161 287.36 12,868 3,697,748.48
1.48 WM WASTE MANAGEMENT INC 2937667 207.16 17,715 3,669,839.40
1.48 WMT WALMART INC 2936921 59.71 61,266 3,658,192.86
1.47 MMC MARSH & MCLENNAN COS 2567741 199.36 18,287 3,645,696.32
1.46 RSG REPUBLIC SERVICES INC 2262530 186.44 19,330 3,603,885.20
1.45 V VISA INC-CLASS A SHARES B2PZN04 267.61 13,365 3,576,607.65
1.43 AJG ARTHUR J GALLAGHER & CO 2359506 238.54 14,774 3,524,189.96
1.40 CME CME GROUP INC 2965839 207.48 16,633 3,451,014.84
1.39 ROP ROPER TECHNOLOGIES INC 2749602 510.82 6,741 3,443,437.62
1.39 COR CENCORA INC 2795393 224.74 15,314 3,441,668.36
1.38 LIN LINDE PLC BNZHB81 419.62 8,158 3,423,259.96
1.35 DOX AMDOCS LTD 2256908 83.64 39,899 3,337,152.36
1.34 MCD MCDONALD'S CORP 2550707 273.28 12,142 3,318,165.76
1.26 CSCO CISCO SYSTEMS INC 2198163 46.79 66,803 3,125,712.37
1.20 EA ELECTRONIC ARTS INC 2310194 128.50 23,142 2,973,747.00
1.13 VRSN VERISIGN INC 2142922 168.34 16,567 2,788,888.78
1.11 KO COCA-COLA CO/THE 2206657 61.99 44,270 2,744,297.30
1.03 PEP PEPSICO INC 2681511 175.45 14,560 2,554,552.00
1.01 NSIT INSIGHT ENTERPRISES INC 2475060 178.42 13,990 2,496,095.80
0.91 PG PROCTER & GAMBLE CO/THE 2704407 163.84 13,693 2,243,461.12
0.87 CBOE CBOE GLOBAL MARKETS INC B5834C5 174.12 12,404 2,159,784.48
0.79 BR BROADRIDGE FINL B1VP7R6 195.35 10,038 1,960,923.30
0.61 MO ALTRIA GROUP INC 2692632 43.98 34,518 1,518,101.64
0.60 GILD GILEAD SCIENCES INC 2369174 65.33 22,570 1,474,498.10
0.59 KMI KINDER MORGAN INC B3NQ4P8 18.46 79,172 1,461,515.12
0.58 WMB WILLIAMS COS INC 2967181 38.54 37,317 1,438,197.18
0.57 DTM DT MIDSTREAM INC BN7L880 62.61 22,531 1,410,665.91
0.56 CHE CHEMED CORP 2190084 559.65 2,487 1,391,849.55
0.56 SYF SYNCHRONY FINANCIAL BP96PS6 45.00 30,813 1,386,585.00
0.56 COLB COLUMBIA BANKING 2176608 19.75 69,510 1,372,822.50
0.55 FHN FIRST HORIZON CORP 2341484 15.67 86,281 1,352,023.27
0.54 PRGO PERRIGO CO PLC BGH1M56 33.06 40,698 1,345,475.88
0.54 AME AMETEK INC 2089212 163.34 8,234 1,344,941.56
0.54 OZK BANK OZK BZ56Q65 46.25 29,070 1,344,487.50
0.54 ONB OLD NATIONAL BANCORP 2658441 17.03 78,725 1,340,686.75
0.54 ALB ALBEMARLE CORP 2046853 125.30 10,689 1,339,331.70
0.54 OGN ORGANON & CO BLDC8J4 19.50 68,615 1,337,992.50
0.54 ETRN EQUITRANS MIDSTREAM CORP BFMWBV6 13.44 99,066 1,331,447.04
0.54 JXN JACKSON FINANCIAL INC-A BMFX6P4 69.42 19,126 1,327,726.92
0.54 GLW CORNING INC 2224701 33.57 39,463 1,324,772.91
0.54 PFE PFIZER INC 2684703 27.70 47,814 1,324,447.80
0.54 FITB FIFTH THIRD BANCORP 2336747 36.89 35,855 1,322,690.95
0.53 MAN MANPOWERGROUP INC 2562490 76.17 17,351 1,321,625.67
0.53 ZION ZIONS BANCORP NA 2989828 42.72 30,881 1,319,236.32
0.53 KBH KB HOME 2485070 66.11 19,955 1,319,225.05
0.53 OMF ONEMAIN HOLDINGS INC BYSZB89 50.81 25,881 1,315,013.61
0.53 WAL WESTERN ALLIANCE BANCORP B0CCGJ4 59.96 21,904 1,313,363.84
0.53 FMC FMC CORP 2328603 60.53 21,678 1,312,169.34
0.53 CADE CADENCE BANK BMCS168 28.73 45,664 1,311,926.72
0.53 ALLY ALLY FINANCIAL INC B72XK05 38.80 33,708 1,307,870.40
0.53 RITM RITHM CAPITAL CORP BRJ9GW0 11.25 116,220 1,307,475.00
0.53 FNB FNB CORP 2041308 13.64 95,517 1,302,851.88
0.53 LBRDK LIBERTY BROADBAND-C BRTLC06 51.45 25,212 1,297,157.40
0.52 UAL UNITED AIRLINES B4QG225 51.68 25,086 1,296,444.48
0.52 CRBG COREBRIDGE FINANCIAL INC BMTX0G9 28.12 46,083 1,295,853.96
0.52 MTG MGIC INVESTMENT CORP 2548616 20.51 63,088 1,293,934.88
0.52 AVT AVNET INC 2066505 48.64 26,560 1,291,878.40
0.52 TXN TEXAS INSTRUMENTS INC 2885409 175.80 7,337 1,289,844.60
0.52 CFG CITIZENS FINANCIAL GROUP BQRX1X3 34.99 36,809 1,287,946.91
0.52 PB PROSPERITY BANCSHARES INC 2310257 62.52 20,588 1,287,161.76
0.52 MTB M & T BANK CORP 2340168 146.27 8,794 1,286,298.38
0.52 GM GENERAL MOTORS CO B665KZ5 44.67 28,793 1,286,183.31
0.52 KRC KILROY REALTY CORP 2495529 34.27 37,513 1,285,570.51
0.52 PNC PNC FINANCIAL SE 2692665 155.68 8,254 1,284,982.72
0.52 C CITIGROUP INC 2297907 61.01 21,017 1,282,247.17
0.52 RDN RADIAN GROUP INC 2173911 30.74 41,685 1,281,396.90
0.52 AL AIR LEASE CORP B3XS562 50.78 25,183 1,278,792.74
0.52 VTRS VIATRIS INC BMWS3X9 11.60 110,146 1,277,693.60
0.52 BMY BRISTOL-MYERS SQUIBB CO 2126335 43.70 29,235 1,277,569.50
0.52 RF REGIONS FINANCIAL CORP B01R311 19.64 64,824 1,273,143.36
0.52 CMA COMERICA INC 2212870 51.87 24,542 1,272,993.54
0.51 WFC WELLS FARGO & CO 2649100 59.83 21,257 1,271,806.31
0.51 HBAN HUNTINGTON BANCSHARES INC 2445966 13.67 92,975 1,270,968.25
0.51 F FORD MOTOR CO 2615468 12.49 101,545 1,268,297.05
0.51 RPRX ROYALTY PHARMA PLC- CL A BMVP7Y0 28.76 44,015 1,265,871.40
0.51 COF CAPITAL ONE FINA 2654461 141.81 8,886 1,260,123.66
0.51 USB US BANCORP 2736035 40.97 30,754 1,259,991.38
0.51 KEY KEYCORP 2490911 14.87 84,728 1,259,905.36
0.51 UNM UNUM GROUP 2433842 51.69 24,372 1,259,788.68
0.51 AGNC AGNC INVESTMENT CORP BYYHJL8 9.30 135,247 1,257,797.10
0.51 CAG CONAGRA BRANDS INC 2215460 30.85 40,561 1,251,306.85
0.51 AM ANTERO MIDSTREAM CORP BJBT0Q4 13.96 89,567 1,250,355.32
0.51 UBSI UNITED BANKSHARES INC 2905794 33.82 36,961 1,250,021.02
0.51 IP INTERNATIONAL PAPER CO 2465254 35.81 34,872 1,248,766.32
0.50 STWD STARWOOD PROPERT B3PQ520 19.37 64,316 1,245,800.92
0.50 MDT MEDTRONIC PLC BTN1Y11 80.92 15,366 1,243,416.72
0.50 SNX TD SYNNEX CORP 2002554 116.42 10,638 1,238,475.96
0.50 CMC COMMERCIAL METALS CO 2213260 56.46 21,885 1,235,627.10
0.50 ARW ARROW ELECTRONICS INC 2051404 122.71 10,025 1,230,167.75
0.50 CE CELANESE CORP B05MZT4 156.38 7,863 1,229,615.94
0.50 SIG SIGNET JEWELERS LTD B3CTNK6 97.40 12,595 1,226,753.00
0.50 HPQ HP INC BYX4D52 27.94 43,884 1,226,118.96
0.49 EMN EASTMAN CHEMICAL CO 2298386 95.92 12,739 1,221,924.88
0.49 M MACY'S INC 2345022 19.12 63,906 1,221,882.72
0.49 NOV NOV INC BN2RYW9 18.56 65,788 1,221,025.28
0.49 CHK CHESAPEAKE ENERGY CORP BMZ5LZ5 86.79 14,028 1,217,490.12
0.49 KHC KRAFT HEINZ CO/THE BYRY499 36.72 33,132 1,216,607.04
0.49 OKE ONEOK INC 2130109 76.95 15,740 1,211,193.00
0.49 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 98.78 12,261 1,211,141.58
0.49 BKR BAKER HUGHES CO BDHLTQ5 31.72 37,948 1,203,710.56
0.49 ABG ASBURY AUTOMOTIVE GROUP 2855855 208.45 5,770 1,202,756.50
0.49 ADM ARCHER-DANIELS-MIDLAND CO 2047317 59.35 20,235 1,200,947.25
0.49 HPE HEWLETT PACKA BYVYWS0 16.53 72,512 1,198,623.36
0.49 CMCSA COMCAST CORP-CLASS A 2044545 38.36 31,246 1,198,596.56
0.48 GPS GAP INC/THE 2360326 20.79 57,294 1,191,142.26
0.48 WBS WEBSTER FINANCIAL CORP 2945143 44.40 26,763 1,188,277.20
0.48 CHRD CHORD ENERGY CORP BLDDYB1 175.29 6,771 1,186,888.59
0.48 BCC BOISE CASCADE CO B9BP4R1 134.48 8,815 1,185,441.20
0.48 CIVI CIVITAS RESOURCES INC BMG9GG2 70.55 16,767 1,182,911.85
0.48 LAD LITHIA MOTORS INC 2515030 251.20 4,695 1,179,384.00
0.48 BG BUNGE GLOBAL SA BQ6BPG9 101.36 11,611 1,176,890.96
0.47 BBY BEST BUY CO INC 2094670 72.44 16,037 1,161,720.28
0.47 HP HELMERICH & PAYNE 2420101 37.83 30,692 1,161,078.36
0.47 AGCO AGCO CORP 2010278 110.63 10,453 1,156,415.39
0.47 X UNITED STATES STEEL CORP 2824770 37.05 31,039 1,149,994.95
0.46 GEN GEN DIGITAL INC BJN4XN5 19.68 58,287 1,147,088.16
0.46 PTEN PATTERSON-UTI ENERGY INC 2672537 10.59 108,259 1,146,462.81
0.46 MOS MOSAIC CO/THE B3NPHP6 28.41 40,116 1,139,695.56
0.45 TAP MOLSON COORS-B B067BM3 57.80 19,109 1,104,500.20
0.42 MCK MCKESSON CORP 2378534 530.27 1,959 1,038,798.93
0.42 INTC INTEL CORP 2463247 30.51 34,017 1,037,858.67
0.39 CVS CVS HEALTH CORP 2577609 55.15 17,687 975,438.05
0.30 YUM YUM! BRANDS INC 2098876 135.07 5,495 742,209.65
0.29 AMGN AMGEN INC 2023607 278.39 2,576 717,132.64
0.26 PSX PHILLIPS 66 B78C4Y8 143.87 4,386 631,013.82
0.24 DGX QUEST DIAGNOSTICS INC 2702791 136.34 4,393 598,941.62
0.18 LLY ELI LILLY & CO 2516152 755.91 573 433,136.43
0.17 CACI CACI INTL-A 2159267 410.96 1,050 431,508.00
0.17 PGR PROGRESSIVE CORP 2705024 209.03 2,046 427,675.38
0.16 EME EMCOR GROUP INC 2474164 356.29 1,115 397,263.35
0.14 ABBV ABBVIE INC B92SR70 160.81 2,197 353,299.57
0.13 CHD CHURCH & DWIGHT CO INC 2195841 105.88 3,123 330,663.24
0.13 KR KROGER CO 2497406 55.09 5,745 316,492.05
0.13 TW TRADEWEB MARKE-A BJXMVK2 105.50 2,928 308,904.00
0.12 SNA SNAP-ON INC 2818740 266.87 1,139 303,964.93
0.12 SAIC SCIENCE APPLICATIONS INTE BDTZZG7 129.84 2,288 297,073.92
0.12 TRV TRAVELERS COS INC/THE 2769503 214.37 1,369 293,472.53
0.11 SO SOUTHERN CO/THE 2829601 75.33 3,532 266,065.56
0.11 ED CONSOLIDATED EDISON INC 2216850 95.25 2,791 265,842.75
0.11 DUK DUKE ENERGY CORP B7VD3F2 99.31 2,647 262,873.57
0.10 COST COSTCO WHOLESALE CORP 2701271 732.44 350 256,354.00
0.10 CASY CASEY'S GENERAL 2179414 316.58 789 249,781.62
0.10 WRB WR BERKLEY CORP 2093644 79.01 3,089 244,061.89
0.10 RTX RTX CORPORATION BM5M5Y3 101.89 2,359 240,358.51
0.10 LDOS LEIDOS HOLDINGS INC BDV82B8 142.66 1,677 239,240.82
0.10 CAH CARDINAL HEALTH INC 2175672 102.98 2,304 237,265.92
0.10 MDLZ MONDELEZ INTER-A B8CKK03 70.50 3,358 236,739.00
0.10 GRMN GARMIN LTD B3Z5T14 165.33 1,429 236,256.57
0.10 HON HONEYWELL INTL 2020459 193.64 1,214 235,078.96
0.09 AFL AFLAC INC 2026361 84.04 2,742 230,437.68
0.09 AKAM AKAMAI TECHNOLOGIES INC 2507457 99.74 2,274 226,808.76
0.09 ORI OLD REPUBLIC INTL CORP 2659109 30.64 7,259 222,415.76
0.09 XOM EXXON MOBIL CORP 2326618 116.24 1,865 216,787.60
0.09 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 336.24 640 215,193.60
0.09 KMB KIMBERLY-CLARK CORP 2491839 136.50 1,564 213,486.00
0.09 HII HUNTINGTON INGAL B40SSC9 245.19 870 213,315.30
0.09 BDX BECTON DICKINSON AND CO 2087807 240.35 881 211,748.35
0.09 NOC NORTHROP GRUMMAN CORP 2648806 475.00 445 211,375.00
0.09 VRTX VERTEX PHARM 2931034 400.16 527 210,884.32
0.08 PNW PINNACLE WEST CAPITAL 2048804 75.04 2,758 206,960.32
0.08 OTHER PAYABLE & RECEIVABLES 1.00 206,262 206,261.58
0.08 ATR APTARGROUP INC 2045247 145.92 1,413 206,184.96
0.08 CVX CHEVRON CORP 2838555 160.73 1,271 204,287.83
0.08 REGN REGENERON PHARMACEUTICALS 2730190 937.61 216 202,523.76
0.08 ICE INTERCONTINENTAL BFSSDS9 126.54 1,565 198,035.10
0.08 SON SONOCO PRODUCTS CO 2821395 55.61 3,547 197,248.67
0.08 AAPL APPLE INC 2046251 173.03 1,122 194,139.66
0.08 QGEN QIAGEN N.V. BMGBZP0 42.68 4,512 192,572.16
0.08 DRI DARDEN RESTAURANTS INC 2289874 147.86 1,297 191,774.42
0.08 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,006.23 188 189,171.24
0.08 VRSK VERISK ANALYTICS INC B4P9W92 233.76 808 188,878.08
0.08 ADP AUTOMATIC DATA PROCESSING 2065308 242.03 776 187,815.28
0.08 TJX TJX COMPANIES INC 2989301 94.91 1,970 186,972.70
0.08 BSX BOSTON SCIENTIFIC CORP 2113434 72.03 2,592 186,701.76
0.08 FDS FACTSET RESEARCH 2329770 423.36 440 186,278.40
0.08 L LOEWS CORP 2523022 76.53 2,408 184,284.24
0.07 UNH UNITEDHEALTH GROUP INC 2917766 492.97 370 182,398.90
0.07 DLB DOLBY LABORATO-A B04NJM9 79.71 2,261 180,224.31
0.07 HIG HARTFORD FINL SV 2476193 97.49 1,837 179,089.13
0.07 MA MASTERCARD INC - A B121557 441.10 400 176,440.00
0.07 PKG PACKAGING CORP OF AMERICA 2504566 175.34 985 172,709.90
0.07 NEU NEWMARKET CORP B01CGF1 539.52 298 160,776.96
0.07 PCAR PACCAR INC 2665861 106.46 1,508 160,541.68
0.05 CASH 1.00 128,709 128,709.09
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 04/30/24

Sector Weight (%)
Financials 22.7
Information Technology 14.5
Health Care 11.6
Consumer Staples 10.5
Consumer Discretionary 8.9
Communication Services 8.5
Industrials 8.0
Materials 6.3
Energy 6.0
Utilities 1.9
Real Estate 1.2

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Information Technology Services 5.8
Pharmaceuticals: Major 5.6
Major Telecommunications 5.1
Regional Banks 4.8
Environmental Services 3.9
Food Retail 3.6
Insurance Brokers/Services 3.5
Finance/Rental/Leasing 3.3
Oil & Gas Pipelines 3.2
Aerospace & Defense 2.9
Major Banks 2.8
Other 55.5

Source: new windowAltaVista Research, LLC

All Sector, Industry and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.

ETF Characteristics As of 05/02/24

Return on Equity 14.80%
Weighted Avg. Market Cap 97,791 M
2023 2024
Price-to-earnings 11.98 12.04
Price-to-book value 1.87 1.71

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 04/30/24

Versus Beta
S&P 500 0.77
NASDAQ-100 0.47
MSCI EAFE 0.74
MSCI Emg. Mkts 0.43
Standard Deviation 15.70%

Source: new windowAltaVista Research, LLC

ETF Documents

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

As of 03/31, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 380 during the last 3 years, 363 during the last 5 years. With respect to these Mid-Cap Value funds, AUSF received a Morningstar Rating of 5 stars for both periods. Past performance is not indicative of future results.

© 2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Investing involves risk, including the possible loss of principal. There is no guarantee that the Fund will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the Fund’s ability to adjust its exposure to the required levels in order to track the Underlying Index. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index. Performance of companies in the financial sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets.  AUSF is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times.

Since the Fund’s shares did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Adaptive Wealth Strategies® (AWS), nor does AWS make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with AWS.