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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 04/24/24

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $243.33 million
NAV $39.70
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 04/24/24

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 6,130,002
Number of Holdings 192
30-Day Median Bid-Ask Spread 0.25%

Distributions As of 04/24/24

30-Day SEC Yield 2.67%
Distribution Frequency Quarterly

ETF Prices As of 04/24/24

NAV $39.70 Daily Change $0.08 0.20%
Market Price $39.75 Daily Change $0.09 0.23%

Performance History

As of recent month & quarter-end (03/31/24)
As of recent month & quarter-end (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 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%
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 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%

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 04/24/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.07 IBM IBM 2005973 184.10 27,490 5,060,909.00
1.97 T AT&T INC 2831811 16.81 286,740 4,820,099.40
1.87 VZ VERIZON COMMUNIC 2090571 39.49 115,875 4,575,903.75
1.68 WM WASTE MANAGEMENT INC 2937667 210.43 19,524 4,108,435.32
1.66 RSG REPUBLIC SERVICES INC 2262530 191.99 21,199 4,069,996.01
1.63 WMT WALMART INC 2936921 59.87 66,587 3,986,563.69
1.60 COR CENCORA INC 2795393 237.95 16,405 3,903,569.75
1.57 BRK/B BERKSHIRE HATH-B 2073390 405.95 9,473 3,845,564.35
1.56 MRK MERCK & CO. INC. 2778844 127.00 30,077 3,819,779.00
1.49 TMUS T-MOBILE US INC B94Q9V0 164.18 22,180 3,641,512.40
1.47 PNM PNM RESOURCES INC 2707826 36.24 99,214 3,595,763.40
1.45 MMC MARSH & MCLENNAN COS 2567741 200.95 17,641 3,544,958.95
1.44 LMT LOCKHEED MARTIN CORP 2522096 459.14 7,667 3,520,226.38
1.44 ROP ROPER TECHNOLOGIES INC 2749602 538.01 6,541 3,519,123.41
1.39 CME CME GROUP INC 2965839 212.59 15,981 3,397,400.79
1.39 AJG ARTHUR J GALLAGHER & CO 2359506 236.81 14,317 3,390,408.77
1.37 DOX AMDOCS LTD 2256908 86.74 38,559 3,344,607.66
1.37 JNJ JOHNSON & JOHNSON 2475833 148.53 22,471 3,337,617.63
1.35 MCD MCDONALD'S CORP 2550707 276.75 11,958 3,309,376.50
1.34 ACI ALBERTSONS COS-A BYNQ369 19.94 164,579 3,281,705.26
1.28 CSCO CISCO SYSTEMS INC 2198163 48.35 64,600 3,123,410.00
1.22 VRSN VERISIGN INC 2142922 185.55 16,083 2,984,200.65
1.19 BMY BRISTOL-MYERS SQUIBB CO 2126335 48.86 59,771 2,920,411.06
1.18 EA ELECTRONIC ARTS INC 2310194 128.14 22,507 2,884,046.98
1.09 V VISA INC-CLASS A SHARES B2PZN04 275.02 9,721 2,673,469.42
1.06 KO COCA-COLA CO/THE 2206657 61.55 42,225 2,598,948.75
1.02 NSIT INSIGHT ENTERPRISES INC 2475060 184.36 13,545 2,497,156.20
1.01 PEP PEPSICO INC 2681511 177.41 13,884 2,463,160.44
0.89 PG PROCTER & GAMBLE CO/THE 2704407 162.60 13,317 2,165,344.20
0.87 CBOE CBOE GLOBAL MARKETS INC B5834C5 179.39 11,914 2,137,252.46
0.79 BR BROADRIDGE FINL B1VP7R6 195.08 9,857 1,922,903.56
0.65 DLB DOLBY LABORATO-A B04NJM9 79.58 20,085 1,598,364.30
0.65 RTX RTX CORPORATION BM5M5Y3 101.02 15,624 1,578,336.48
0.64 GRMN GARMIN LTD B3Z5T14 142.79 10,924 1,559,837.96
0.63 GM GENERAL MOTORS CO B665KZ5 45.08 34,252 1,544,080.16
0.63 UAL UNITED AIRLINES B4QG225 52.67 29,079 1,531,590.93
0.62 CHE CHEMED CORP 2190084 617.95 2,446 1,511,505.70
0.61 AL AIR LEASE CORP B3XS562 51.40 28,818 1,481,245.20
0.60 MO ALTRIA GROUP INC 2692632 42.92 34,185 1,467,220.20
0.59 VAC MARRIOTT VACATIONS WORLD B45K9N8 103.17 13,960 1,440,253.20
0.59 HP HELMERICH & PAYNE 2420101 42.43 33,714 1,430,485.02
0.58 CHRD CHORD ENERGY CORP BLDDYB1 183.59 7,729 1,418,967.11
0.58 ADM ARCHER-DANIELS-MIDLAND CO 2047317 61.56 22,943 1,412,371.08
0.58 AAP ADVANCE AUTO PARTS INC 2822019 76.53 18,422 1,409,835.66
0.58 BG BUNGE GLOBAL SA BQ6BPG9 105.79 13,319 1,409,017.01
0.58 DTM DT MIDSTREAM INC BN7L880 64.17 21,956 1,408,916.52
0.58 SYF SYNCHRONY FINANCIAL BP96PS6 45.02 31,286 1,408,495.72
0.58 HOG HARLEY-DAVIDSON INC 2411053 39.44 35,668 1,406,745.92
0.58 CHK CHESAPEAKE ENERGY CORP BMZ5LZ5 90.69 15,508 1,406,420.52
0.57 F FORD MOTOR CO 2615468 12.95 107,708 1,394,818.60
0.57 OKE ONEOK INC 2130109 80.95 17,229 1,394,687.55
0.57 C CITIGROUP INC 2297907 62.47 22,296 1,392,831.12
0.56 AM ANTERO MIDSTREAM CORP BJBT0Q4 14.02 97,705 1,369,824.10
0.56 WMB WILLIAMS COS INC 2967181 39.25 34,868 1,368,569.00
0.56 DD DUPONT DE NEMOURS INC BK0VN47 73.96 18,479 1,366,706.84
0.56 AIRC APARTMENT INCOME REIT CO BN6QGL5 38.47 35,481 1,364,954.07
0.56 EMN EASTMAN CHEMICAL CO 2298386 96.36 14,157 1,364,168.52
0.55 OGN ORGANON & CO BLDC8J4 18.71 72,214 1,351,123.94
0.54 CIVI CIVITAS RESOURCES INC BMG9GG2 73.56 18,067 1,329,008.52
0.54 KMI KINDER MORGAN INC B3NQ4P8 18.81 70,218 1,320,800.58
0.54 ARW ARROW ELECTRONICS INC 2051404 127.58 10,330 1,317,901.40
0.54 TMHC TAYLOR MORRISON HOME CORP B832462 56.35 23,382 1,317,575.70
0.54 SNX TD SYNNEX CORP 2002554 117.24 11,191 1,312,032.84
0.54 GILD GILEAD SCIENCES INC 2369174 67.08 19,546 1,311,145.68
0.53 WU WESTERN UNION CO B1F76F9 13.59 96,023 1,304,952.57
0.53 OMF ONEMAIN HOLDINGS INC BYSZB89 51.31 25,432 1,304,915.92
0.53 ABG ASBURY AUTOMOTIVE GROUP 2855855 221.54 5,887 1,304,205.98
0.53 UNM UNUM GROUP 2433842 51.61 25,198 1,300,342.79
0.53 PTEN PATTERSON-UTI ENERGY INC 2672537 11.53 112,729 1,299,765.37
0.53 ALLY ALLY FINANCIAL INC B72XK05 39.76 32,558 1,294,506.08
0.53 CE CELANESE CORP B05MZT4 155.43 8,253 1,282,763.79
0.52 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 100.78 12,705 1,280,409.90
0.52 FITB FIFTH THIRD BANCORP 2336747 37.23 34,245 1,274,941.35
0.52 HPE HEWLETT PACKA BYVYWS0 16.93 75,242 1,273,847.06
0.52 CAG CONAGRA BRANDS INC 2215460 31.57 40,349 1,273,817.93
0.52 DOW DOW INC BHXCF84 56.98 22,329 1,272,306.42
0.52 AXS AXIS CAPITAL HOLDINGS LTD 2677606 62.58 20,289 1,269,685.62
0.52 TPR TAPESTRY INC BF09HX3 40.03 31,630 1,266,148.90
0.51 PNC PNC FINANCIAL SE 2692665 158.06 7,907 1,249,780.42
0.51 HBAN HUNTINGTON BANCSHARES INC 2445966 13.76 90,783 1,249,174.08
0.51 RDN RADIAN GROUP INC 2173911 30.63 40,637 1,244,711.31
0.51 KHC KRAFT HEINZ CO/THE BYRY499 38.57 32,246 1,243,728.22
0.51 TAP MOLSON COORS-B B067BM3 63.70 19,424 1,237,308.80
0.51 MTB M & T BANK CORP 2340168 147.96 8,338 1,233,690.48
0.50 GLW CORNING INC 2224701 31.52 39,094 1,232,242.88
0.50 CMC COMMERCIAL METALS CO 2213260 53.70 22,922 1,230,911.40
0.50 KEY KEYCORP 2490911 14.93 82,265 1,228,216.45
0.50 M MACY'S INC 2345022 18.73 65,463 1,226,121.99
0.50 CF CF INDUSTRIES HO B0G4K50 79.25 15,447 1,224,174.75
0.50 LNC LINCOLN NATIONAL CORP 2516378 28.65 42,585 1,220,060.25
0.50 RF REGIONS FINANCIAL CORP B01R311 19.77 61,684 1,219,492.68
0.50 MTG MGIC INVESTMENT CORP 2548616 20.35 59,853 1,218,008.55
0.50 AVT AVNET INC 2066505 49.24 24,678 1,215,144.72
0.49 RITM RITHM CAPITAL CORP BRJ9GW0 11.13 108,127 1,203,453.51
0.49 BBY BEST BUY CO INC 2094670 74.43 16,162 1,202,937.66
0.49 FNB FNB CORP 2041308 13.67 87,918 1,201,839.06
0.49 FOXA FOX CORP - CLASS A BJJMGL2 31.71 37,748 1,196,989.08
0.49 PB PROSPERITY BANCSHARES INC 2310257 65.08 18,273 1,189,206.84
0.48 HUN HUNTSMAN CORP B0650B9 23.99 49,342 1,183,714.58
0.48 FHN FIRST HORIZON CORP 2341484 14.93 78,455 1,171,333.15
0.48 VTRS VIATRIS INC BMWS3X9 11.55 101,367 1,170,788.85
0.48 ONB OLD NATIONAL BANCORP 2658441 16.59 70,271 1,165,795.89
0.48 USB US BANCORP 2736035 41.61 27,904 1,161,085.44
0.47 AGNC AGNC INVESTMENT CORP BYYHJL8 9.36 122,168 1,143,492.48
0.47 CMA COMERICA INC 2212870 52.95 21,583 1,142,819.85
0.47 FYBR FRONTIER COMMUNI BP0V999 22.86 49,959 1,142,062.74
0.46 SNV SYNOVUS FINANCIAL CORP BMH4NJ8 36.82 30,725 1,131,294.50
0.46 MOS MOSAIC CO/THE B3NPHP6 30.49 37,101 1,131,209.49
0.46 OZK BANK OZK BZ56Q65 46.37 24,388 1,130,871.56
0.46 JNPR JUNIPER NETWORKS INC 2431846 35.36 31,939 1,129,363.04
0.46 IP INTERNATIONAL PAPER CO 2465254 34.43 32,773 1,128,374.39
0.46 HPQ HP INC BYX4D52 28.10 40,121 1,127,400.10
0.46 PARA PARAMOUNT GLOBAL-CLASS B BKTNTR9 12.68 88,890 1,127,125.20
0.46 MDT MEDTRONIC PLC BTN1Y11 80.38 14,018 1,126,766.84
0.46 ALB ALBEMARLE CORP 2046853 115.27 9,758 1,124,804.66
0.46 PRGO PERRIGO CO PLC BGH1M56 31.23 35,916 1,121,656.68
0.46 STWD STARWOOD PROPERT B3PQ520 19.40 57,800 1,121,320.00
0.46 UBSI UNITED BANKSHARES INC 2905794 34.76 32,045 1,113,884.20
0.45 CMCSA COMCAST CORP-CLASS A 2044545 40.21 27,086 1,089,128.06
0.44 CVS CVS HEALTH CORP 2577609 67.77 15,993 1,083,845.61
0.43 GEN GEN DIGITAL INC BJN4XN5 20.83 50,527 1,052,477.41
0.42 KRC KILROY REALTY CORP 2495529 33.71 30,716 1,035,436.36
0.42 QGEN QIAGEN N.V. BMGBZP0 41.52 24,423 1,014,042.96
0.41 NVST ENVISTA HOLDINGS CORP BK63SF3 20.28 49,702 1,007,956.56
0.41 LAD LITHIA MOTORS INC 2515030 248.34 4,037 1,002,548.58
0.39 WBA WALGREENS BOOTS BTN1Y44 17.81 53,011 944,125.91
0.38 LEG LEGGETT & PLATT INC 2510682 18.20 51,056 929,219.20
0.37 X UNITED STATES STEEL CORP 2824770 36.60 24,552 898,603.20
0.35 VLY VALLEY NATIONAL BANCORP 2935326 7.84 109,803 860,855.52
0.31 YUM YUM! BRANDS INC 2098876 141.81 5,342 757,549.02
0.29 PSX PHILLIPS 66 B78C4Y8 157.79 4,422 697,747.38
0.28 AMGN AMGEN INC 2023607 273.01 2,483 677,883.83
0.24 DGX QUEST DIAGNOSTICS INC 2702791 137.55 4,188 576,059.40
0.20 MCK MCKESSON CORP 2378534 535.42 915 489,909.30
0.18 LLY ELI LILLY & CO 2516152 732.20 583 426,872.60
0.17 PGR PROGRESSIVE CORP 2705024 212.20 1,916 406,575.20
0.16 OTHER PAYABLE & RECEIVABLES 1.00 401,422 401,422.41
0.16 CACI CACI INTL-A 2159267 379.38 1,031 391,140.78
0.16 EME EMCOR GROUP INC 2474164 338.89 1,153 390,740.17
0.16 ABBV ABBVIE INC B92SR70 167.80 2,291 384,429.80
0.14 NYCB NY COMM BANCORP 2711656 3.06 114,847 351,431.82
0.13 SNA SNAP-ON INC 2818740 273.59 1,202 328,855.18
0.13 CHD CHURCH & DWIGHT CO INC 2195841 107.35 2,932 314,750.20
0.13 GD GENERAL DYNAMICS CORP 2365161 281.11 1,101 309,502.11
0.12 KR KROGER CO 2497406 56.15 5,406 303,546.90
0.12 TW TRADEWEB MARKE-A BJXMVK2 102.96 2,790 287,258.40
0.11 COST COSTCO WHOLESALE CORP 2701271 722.73 370 267,410.10
0.11 SAIC SCIENCE APPLICATIONS INTE BDTZZG7 128.47 2,006 257,710.82
0.11 NVR NVR INC 2637785 7,798.28 33 257,343.24
0.10 TRV TRAVELERS COS INC/THE 2769503 213.43 1,181 252,060.83
0.10 AFL AFLAC INC 2026361 84.28 2,880 242,726.40
0.10 SO SOUTHERN CO/THE 2829601 73.91 3,274 241,981.34
0.10 HSY HERSHEY CO/THE 2422806 188.14 1,244 234,046.16
0.10 CASY CASEY'S GENERAL 2179414 315.64 741 233,889.24
0.09 ED CONSOLIDATED EDISON INC 2216850 93.43 2,415 225,633.45
0.09 DUK DUKE ENERGY CORP B7VD3F2 98.96 2,271 224,738.16
0.09 FCN FTI CONSULTING INC 2351449 213.74 1,033 220,793.42
0.09 XOM EXXON MOBIL CORP 2326618 121.05 1,784 215,953.20
0.09 ADP AUTOMATIC DATA PROCESSING 2065308 246.61 873 215,290.53
0.09 HII HUNTINGTON INGAL B40SSC9 275.84 776 214,051.84
0.09 ORI OLD REPUBLIC INTL CORP 2659109 30.30 6,967 211,100.10
0.09 WRB WR BERKLEY CORP 2093644 77.85 2,709 210,895.65
0.09 LDOS LEIDOS HOLDINGS INC BDV82B8 128.90 1,630 210,107.00
0.09 CAH CARDINAL HEALTH INC 2175672 103.54 2,022 209,357.88
0.08 MDLZ MONDELEZ INTER-A B8CKK03 71.31 2,888 205,943.28
0.08 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,092.70 188 205,427.60
0.08 AKAM AKAMAI TECHNOLOGIES INC 2507457 102.19 1,992 203,562.48
0.08 LIN LINDE PLC BNZHB81 444.32 458 203,498.56
0.08 KMB KIMBERLY-CLARK CORP 2491839 137.78 1,474 203,087.72
0.08 NOC NORTHROP GRUMMAN CORP 2648806 474.57 427 202,641.39
0.08 CVX CHEVRON CORP 2838555 163.57 1,222 199,882.54
0.08 HON HONEYWELL INTL 2020459 194.79 1,026 199,854.54
0.08 FDS FACTSET RESEARCH 2329770 422.83 467 197,461.61
0.08 ADC AGREE REALTY CORP 2062161 58.37 3,362 196,239.94
0.08 MA MASTERCARD INC - A B121557 462.50 424 196,100.00
0.08 REGN REGENERON PHARMACEUTICALS 2730190 906.54 216 195,812.64
0.08 PNW PINNACLE WEST CAPITAL 2048804 74.54 2,585 192,685.90
0.08 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 345.11 546 188,430.06
0.08 ATR APTARGROUP INC 2045247 140.01 1,342 187,893.42
0.08 BDX BECTON DICKINSON AND CO 2087807 233.83 787 184,024.21
0.08 ICE INTERCONTINENTAL BFSSDS9 132.57 1,377 182,548.89
0.07 ORCL ORACLE CORP 2661568 115.34 1,577 181,891.18
0.07 AON AON PLC-CLASS A BLP1HW5 308.83 585 180,665.55
0.07 UNH UNITEDHEALTH GROUP INC 2917766 487.30 370 180,301.00
0.07 TJX TJX COMPANIES INC 2989301 95.28 1,865 177,697.20
0.07 NNN NNN REIT INC 2211811 41.14 4,302 176,984.28
0.07 SON SONOCO PRODUCTS CO 2821395 56.61 3,077 174,188.97
0.07 DRI DARDEN RESTAURANTS INC 2289874 156.61 1,109 173,680.49
0.07 VRTX VERTEX PHARM 2931034 400.76 433 173,529.08
0.07 AAPL APPLE INC 2046251 169.02 1,024 173,076.48
0.07 SJM JM SMUCKER CO/THE 2951452 118.55 1,351 160,161.05
0.07 APD AIR PRODS & CHEM 2011602 234.68 681 159,817.08
0.07 VRSK VERISK ANALYTICS INC B4P9W92 222.25 714 158,686.50
0.06 CASH 1.00 140,113 140,113.38
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 03/31/24

Sector Weight (%)
Financials 22.6
Information Technology 14.8
Health Care 11.8
Consumer Staples 10.2
Consumer Discretionary 9.2
Communication Services 8.4
Industrials 7.6
Materials 6.6
Energy 6.0
Utilities 1.8
Real Estate 1.0

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Information Technology Services 6.1
Pharmaceuticals: Major 5.9
Major Telecommunications 5.1
Regional Banks 4.7
Environmental Services 3.7
Food Retail 3.6
Insurance Brokers/Services 3.4
Finance/Rental/Leasing 3.2
Oil & Gas Pipelines 3.2
Major Banks 2.8
Aerospace & Defense 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 04/24/24

Return on Equity 14.90%
Weighted Avg. Market Cap 99,397 M
2023 2024
Price-to-earnings 12.20 12.19
Price-to-book value 1.91 1.74

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 03/31/24

Versus Beta
S&P 500 0.75
NASDAQ-100 0.45
MSCI EAFE 0.73
MSCI Emg. Mkts 0.44
Standard Deviation 15.40%

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.