AUSF


Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 383 Mid-Cap Value funds, based on risk-adjusted returns as of 01/31/2024

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 02/28/24

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $222.51 million
NAV $39.04
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 02/27/24

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 5,700,002
Number of Holdings 192
30-Day Median Bid-Ask Spread 0.26%

Distributions As of 02/28/24

30-Day SEC Yield 1.96%
Distribution Frequency Quarterly

ETF Prices As of 02/28/24

NAV $39.04 Daily Change $0.00 0.00%
Market Price $39.05 Daily Change $0.00 0.00%

Performance History

As of recent
(12/31/23)
As of recent
(12/31/23)
Fund NAV Market Price Index
1 Year 22.15% 22.23% 22.61%
3 Years 15.79% 15.85% 16.17%
5 Years 14.27% 14.26% 14.65%
Since Inception 10.96% 10.96% 11.32%
1 Year 24.41% 24.70% 24.86%
3 Years 16.26% 16.40% 16.63%
5 Years 12.79% 12.78% 13.14%
Since Inception 11.13% 11.15% 11.48%
Year-to-Date 22.15% 22.23% 22.61%
1 Month 8.18% 8.18% 8.22%
3 Months 18.79% 18.79% 18.94%
Since Inception 74.56% 74.56% 77.61%
Year-to-Date 1.72% 1.83% 1.73%
1 Month 1.72% 1.83% 1.73%
3 Months 21.65% 21.78% 21.80%
Since Inception 77.56% 77.75% 80.68%

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 02/28/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.09 IBM IBM 2005973 185.30 25,280 4,684,384.00
2.00 T AT&T INC 2831811 16.96 263,563 4,470,028.48
1.91 VZ VERIZON COMMUNIC 2090571 40.10 106,464 4,269,206.40
1.66 WM WASTE MANAGEMENT INC 2937667 207.26 17,906 3,711,197.56
1.64 WMT WALMART INC 2936921 59.62 61,542 3,669,134.04
1.62 BRK/B BERKSHIRE HATH-B 2073390 412.14 8,801 3,627,244.14
1.61 RSG REPUBLIC SERVICES INC 2262530 185.95 19,438 3,614,496.10
1.60 COR CENCORA INC 2795393 236.13 15,142 3,575,480.46
1.58 MRK MERCK & CO. INC. 2778844 128.19 27,691 3,549,709.29
1.53 PNM PNM RESOURCES INC 2707826 37.61 91,353 3,435,786.33
1.50 MMC MARSH & MCLENNAN COS 2567741 206.08 16,294 3,357,867.52
1.49 JNJ JOHNSON & JOHNSON 2475833 161.55 20,699 3,343,923.45
1.49 TMUS T-MOBILE US INC B94Q9V0 163.15 20,474 3,340,333.10
1.47 ROP ROPER TECHNOLOGIES INC 2749602 543.45 6,049 3,287,329.05
1.45 CME CME GROUP INC 2965839 220.84 14,754 3,258,273.36
1.45 MCD MCDONALD'S CORP 2550707 293.52 11,040 3,240,460.80
1.45 AJG ARTHUR J GALLAGHER & CO 2359506 244.87 13,223 3,237,916.01
1.44 DOX AMDOCS LTD 2256908 91.07 35,509 3,233,804.63
1.38 ACI ALBERTSONS COS-A BYNQ369 20.50 150,713 3,089,616.50
1.37 LMT LOCKHEED MARTIN CORP 2522096 429.33 7,124 3,058,546.92
1.31 EA ELECTRONIC ARTS INC 2310194 140.08 20,953 2,935,096.24
1.29 CSCO CISCO SYSTEMS INC 2198163 48.06 60,190 2,892,731.40
1.28 VRSN VERISIGN INC 2142922 194.41 14,796 2,876,490.36
1.27 BMY BRISTOL-MYERS SQUIBB CO 2126335 50.92 55,697 2,836,091.24
1.15 V VISA INC-CLASS A SHARES B2PZN04 285.63 9,049 2,584,665.87
1.06 KO COCA-COLA CO/THE 2206657 60.40 39,327 2,375,350.80
1.05 NSIT INSIGHT ENTERPRISES INC 2475060 186.37 12,621 2,352,175.77
0.97 CBOE CBOE GLOBAL MARKETS INC B5834C5 195.78 11,116 2,176,290.48
0.96 PEP PEPSICO INC 2681511 165.77 12,918 2,141,352.27
0.89 PG PROCTER & GAMBLE CO/THE 2704407 160.05 12,393 1,983,499.65
0.83 BR BROADRIDGE FINL B1VP7R6 201.45 9,185 1,850,318.25
0.68 DLB DOLBY LABORATO-A B04NJM9 81.85 18,699 1,530,513.15
0.64 CHE CHEMED CORP 2190084 628.84 2,278 1,432,497.52
0.63 TPR TAPESTRY INC BF09HX3 47.72 29,488 1,407,167.36
0.62 GRMN GARMIN LTD B3Z5T14 137.30 10,168 1,396,066.40
0.59 GILD GILEAD SCIENCES INC 2369174 72.70 18,202 1,323,285.40
0.59 RTX RTX CORPORATION BM5M5Y3 89.92 14,574 1,310,494.08
0.58 MO ALTRIA GROUP INC 2692632 40.99 31,833 1,304,834.67
0.58 GM GENERAL MOTORS CO B665KZ5 40.51 31,900 1,292,269.00
0.55 F FORD MOTOR CO 2615468 12.30 100,358 1,234,403.40
0.55 VAC MARRIOTT VACATIONS WORLD B45K9N8 94.43 12,994 1,227,023.42
0.54 UAL UNITED AIRLINES B4QG225 44.76 27,105 1,213,219.80
0.54 PTEN PATTERSON-UTI ENERGY INC 2672537 11.53 105,043 1,211,145.79
0.54 HOG HARLEY-DAVIDSON INC 2411053 36.40 33,232 1,209,644.80
0.54 HP HELMERICH & PAYNE 2420101 38.50 31,404 1,209,054.00
0.54 AM ANTERO MIDSTREAM CORP BJBT0Q4 13.25 91,027 1,206,107.75
0.54 BBY BEST BUY CO INC 2094670 79.68 15,070 1,200,777.60
0.54 OGN ORGANON & CO BLDC8J4 17.83 67,300 1,199,959.00
0.54 ALB ALBEMARLE CORP 2046853 132.06 9,086 1,199,897.16
0.54 DD DUPONT DE NEMOURS INC BK0VN47 69.63 17,219 1,198,958.97
0.53 OKE ONEOK INC 2130109 74.37 16,053 1,193,861.61
0.53 SYF SYNCHRONY FINANCIAL BP96PS6 40.87 29,144 1,191,115.28
0.53 CHK CHESAPEAKE ENERGY CORP BMZ5LZ5 82.05 14,458 1,186,278.90
0.53 AXS AXIS CAPITAL HOLDINGS LTD 2677606 62.64 18,903 1,184,083.92
0.53 WU WESTERN UNION CO B1F76F9 13.14 89,471 1,175,648.94
0.52 TMHC TAYLOR MORRISON HOME CORP B832462 55.24 21,194 1,170,756.56
0.52 GLW CORNING INC 2224701 32.09 36,448 1,169,616.32
0.52 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 98.79 11,823 1,167,994.17
0.52 DTM DT MIDSTREAM INC BN7L880 57.00 20,444 1,165,308.00
0.52 HUN HUNTSMAN CORP B0650B9 25.28 45,982 1,162,424.96
0.52 BG BUNGE GLOBAL SA BQ6BPG9 93.74 12,395 1,161,907.30
0.52 CHRD CHORD ENERGY CORP BLDDYB1 161.59 7,183 1,160,700.97
0.52 VTRS VIATRIS INC BMWS3X9 12.29 94,437 1,160,630.73
0.52 UNM UNUM GROUP 2433842 49.36 23,476 1,158,775.36
0.52 CMC COMMERCIAL METALS CO 2213260 54.19 21,368 1,157,931.92
0.51 CE CELANESE CORP B05MZT4 149.42 7,707 1,151,579.94
0.51 CF CF INDUSTRIES HO B0G4K50 79.90 14,397 1,150,320.30
0.51 DOW DOW INC BHXCF84 55.10 20,817 1,147,016.70
0.51 WMB WILLIAMS COS INC 2967181 35.26 32,474 1,145,033.24
0.51 C CITIGROUP INC 2297907 55.05 20,784 1,144,159.20
0.51 EMN EASTMAN CHEMICAL CO 2298386 86.49 13,191 1,140,889.59
0.51 CIVI CIVITAS RESOURCES INC BMG9GG2 67.51 16,849 1,137,475.99
0.50 TAP MOLSON COORS-B B067BM3 62.45 18,080 1,129,096.00
0.50 ARW ARROW ELECTRONICS INC 2051404 116.82 9,616 1,123,341.12
0.50 M MACY'S INC 2345022 18.41 61,011 1,123,212.51
0.50 AAP ADVANCE AUTO PARTS INC 2822019 66.42 16,910 1,123,162.20
0.50 KMI KINDER MORGAN INC B3NQ4P8 17.15 65,430 1,122,124.50
0.50 ABG ASBURY AUTOMOTIVE GROUP 2855855 208.29 5,384 1,121,433.36
0.50 CVS CVS HEALTH CORP 2577609 75.19 14,901 1,120,406.19
0.50 ADM ARCHER-DANIELS-MIDLAND CO 2047317 53.01 20,994 1,112,891.94
0.50 OMF ONEMAIN HOLDINGS INC BYSZB89 46.88 23,710 1,111,524.80
0.50 MTG MGIC INVESTMENT CORP 2548616 19.91 55,779 1,110,559.89
0.50 FYBR FRONTIER COMMUNI BP0V999 23.81 46,557 1,108,522.17
0.49 ALLY ALLY FINANCIAL INC B72XK05 36.23 30,332 1,098,928.36
0.49 RDN RADIAN GROUP INC 2173911 28.99 37,865 1,097,706.35
0.49 JNPR JUNIPER NETWORKS INC 2431846 36.83 29,755 1,095,876.65
0.49 HBAN HUNTINGTON BANCSHARES INC 2445966 12.90 84,609 1,091,456.10
0.49 FNB FNB CORP 2041308 13.31 81,912 1,090,248.72
0.49 MDT MEDTRONIC PLC BTN1Y11 83.36 13,052 1,088,014.72
0.49 LAD LITHIA MOTORS INC 2515030 290.49 3,743 1,087,304.07
0.49 X UNITED STATES STEEL CORP 2824770 47.51 22,872 1,086,648.72
0.48 LNC LINCOLN NATIONAL CORP 2516378 27.24 39,687 1,081,073.88
0.48 HPQ HP INC BYX4D52 28.72 37,391 1,073,869.52
0.48 SNX TD SYNNEX CORP 2002554 102.80 10,435 1,072,718.00
0.48 PNC PNC FINANCIAL SE 2692665 145.69 7,361 1,072,424.09
0.48 USB US BANCORP 2736035 41.22 26,014 1,072,297.08
0.48 FITB FIFTH THIRD BANCORP 2336747 33.58 31,893 1,070,966.94
0.48 RITM RITHM CAPITAL CORP BRJ9GW0 10.63 100,735 1,070,813.05
0.48 MTB M & T BANK CORP 2340168 138.13 7,750 1,070,507.50
0.48 AGNC AGNC INVESTMENT CORP BYYHJL8 9.39 113,852 1,069,070.28
0.48 KHC KRAFT HEINZ CO/THE BYRY499 35.54 30,062 1,068,403.48
0.48 MOS MOSAIC CO/THE B3NPHP6 30.89 34,581 1,068,207.09
0.48 AL AIR LEASE CORP B3XS562 39.77 26,844 1,067,585.88
0.48 KEY KEYCORP 2490911 13.92 76,637 1,066,787.04
0.48 AVT AVNET INC 2066505 46.34 22,998 1,065,727.32
0.48 STWD STARWOOD PROPERT B3PQ520 19.78 53,852 1,065,192.56
0.48 CMCSA COMCAST CORP-CLASS A 2044545 42.15 25,238 1,063,781.70
0.48 SNV SYNOVUS FINANCIAL CORP BMH4NJ8 37.16 28,625 1,063,705.00
0.47 ONB OLD NATIONAL BANCORP 2658441 16.18 65,483 1,059,514.94
0.47 IP INTERNATIONAL PAPER CO 2465254 34.62 30,547 1,057,537.14
0.47 CAG CONAGRA BRANDS INC 2215460 28.13 37,577 1,057,041.01
0.47 RF REGIONS FINANCIAL CORP B01R311 18.33 57,484 1,053,681.72
0.47 PB PROSPERITY BANCSHARES INC 2310257 61.65 17,013 1,048,851.45
0.47 WBA WALGREENS BOOTS BTN1Y44 21.16 49,399 1,045,282.84
0.47 HPE HEWLETT PACKA BYVYWS0 14.86 70,118 1,041,953.48
0.46 FOXA FOX CORP - CLASS A BJJMGL2 29.44 35,186 1,035,875.84
0.46 KRC KILROY REALTY CORP 2495529 36.10 28,616 1,033,037.60
0.46 FHN FIRST HORIZON CORP 2341484 14.05 73,079 1,026,759.95
0.45 UBSI UNITED BANKSHARES INC 2905794 34.07 29,861 1,017,364.27
0.45 GEN GEN DIGITAL INC BJN4XN5 21.40 47,083 1,007,576.20
0.44 AIRC APARTMENT INCOME REIT CO BN6QGL5 30.12 33,045 995,315.40
0.44 QGEN QIAGEN N.V. BMGBZP0 43.20 22,743 982,497.60
0.44 LEG LEGGETT & PLATT INC 2510682 20.59 47,570 979,466.30
0.44 OZK BANK OZK BZ56Q65 43.09 22,708 978,487.72
0.44 CMA COMERICA INC 2212870 48.52 20,113 975,882.76
0.43 NVST ENVISTA HOLDINGS CORP BK63SF3 20.87 46,300 966,281.00
0.41 PARA PARAMOUNT GLOBAL-CLASS B BKTNTR9 11.06 82,842 916,232.52
0.40 PRGO PERRIGO CO PLC BGH1M56 26.41 33,480 884,206.80
0.37 VLY VALLEY NATIONAL BANCORP 2935326 8.00 102,285 818,280.00
0.31 YUM YUM! BRANDS INC 2098876 138.60 4,964 688,010.40
0.29 AMGN AMGEN INC 2023607 277.46 2,315 642,319.90
0.26 PSX PHILLIPS 66 B78C4Y8 141.24 4,128 583,038.72
0.22 DGX QUEST DIAGNOSTICS INC 2702791 125.66 3,894 489,320.04
0.22 NYCB NY COMM BANCORP 2711656 4.54 106,993 485,748.22
0.20 OTHER PAYABLE & RECEIVABLES 1.00 444,412 444,412.20
0.19 MCK MCKESSON CORP 2378534 523.06 814 425,770.84
0.18 LLY ELI LILLY & CO 2516152 757.64 541 409,883.24
0.16 ABBV ABBVIE INC B92SR70 178.00 2,008 357,424.00
0.16 CACI CACI INTL-A 2159267 372.08 947 352,359.76
0.15 PGR PROGRESSIVE CORP 2705024 192.03 1,790 343,733.70
0.15 EME EMCOR GROUP INC 2474164 305.45 1,069 326,526.05
0.14 SNA SNAP-ON INC 2818740 275.19 1,118 307,662.42
0.13 GD GENERAL DYNAMICS CORP 2365161 274.31 1,017 278,973.27
0.12 TW TRADEWEB MARKE-A BJXMVK2 105.84 2,580 273,067.20
0.12 CHD CHURCH & DWIGHT CO INC 2195841 100.12 2,722 272,526.64
0.12 SAIC SCIENCE APPLICATIONS INTE BDTZZG7 140.01 1,880 263,218.80
0.11 COST COSTCO WHOLESALE CORP 2701271 747.96 328 245,330.88
0.11 KR KROGER CO 2497406 48.53 5,028 244,008.84
0.11 TRV TRAVELERS COS INC/THE 2769503 220.42 1,097 241,800.74
0.11 CASH 1.00 235,759 235,758.76
0.10 HSY HERSHEY CO/THE 2422806 186.21 1,160 216,003.60
0.10 WRB WR BERKLEY CORP 2093644 84.56 2,541 214,866.96
0.10 HII HUNTINGTON INGAL B40SSC9 291.85 734 214,217.90
0.10 CASY CASEY'S GENERAL 2179414 304.12 699 212,579.88
0.10 NVR NVR INC 2637785 7,584.99 28 212,379.72
0.09 CAH CARDINAL HEALTH INC 2175672 111.66 1,896 211,707.36
0.09 SO SOUTHERN CO/THE 2829601 66.81 3,064 204,705.84
0.09 FCN FTI CONSULTING INC 2351449 214.72 949 203,769.28
0.09 AKAM AKAMAI TECHNOLOGIES INC 2507457 108.14 1,866 201,789.24
0.09 FDS FACTSET RESEARCH 2329770 465.99 425 198,045.75
0.09 AFL AFLAC INC 2026361 80.56 2,453 197,613.68
0.09 MDLZ MONDELEZ INTER-A B8CKK03 73.19 2,678 196,002.82
0.09 ED CONSOLIDATED EDISON INC 2216850 86.65 2,247 194,702.55
0.09 DUK DUKE ENERGY CORP B7VD3F2 90.74 2,103 190,826.22
0.09 LDOS LEIDOS HOLDINGS INC BDV82B8 126.56 1,504 190,346.24
0.08 ORI OLD REPUBLIC INTL CORP 2659109 29.03 6,505 188,840.15
0.08 LIN LINDE PLC BNZHB81 451.20 416 187,699.20
0.08 HON HONEYWELL INTL 2020459 196.49 942 185,093.58
0.08 ADP AUTOMATIC DATA PROCESSING 2065308 251.56 734 184,645.04
0.08 MA MASTERCARD INC - A B121557 478.85 382 182,920.70
0.08 ICE INTERCONTINENTAL BFSSDS9 138.84 1,293 179,520.12
0.08 BDX BECTON DICKINSON AND CO 2087807 239.15 745 178,166.75
0.08 REGN REGENERON PHARMACEUTICALS 2730190 987.61 180 177,769.80
0.08 NOC NORTHROP GRUMMAN CORP 2648806 458.95 385 176,695.75
0.08 ATR APTARGROUP INC 2045247 140.41 1,258 176,635.78
0.08 TJX TJX COMPANIES INC 2989301 101.10 1,739 175,812.90
0.08 DRI DARDEN RESTAURANTS INC 2289874 170.45 1,025 174,711.25
0.08 CVX CHEVRON CORP 2838555 152.34 1,138 173,362.92
0.08 XOM EXXON MOBIL CORP 2326618 104.32 1,658 172,962.56
0.08 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,092.96 158 172,687.68
0.08 AON AON PLC-CLASS A BLP1HW5 317.66 543 172,489.38
0.08 KMB KIMBERLY-CLARK CORP 2491839 121.23 1,390 168,509.70
0.08 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 331.25 504 166,950.00
0.08 VRTX VERTEX PHARM 2931034 426.97 391 166,945.27
0.07 UNH UNITEDHEALTH GROUP INC 2917766 498.28 328 163,435.84
0.07 NNN NNN REIT INC 2211811 40.76 4,008 163,366.08
0.07 VRSK VERISK ANALYTICS INC B4P9W92 242.00 672 162,624.00
0.07 SON SONOCO PRODUCTS CO 2821395 56.55 2,867 162,128.85
0.07 ORCL ORACLE CORP 2661568 111.68 1,451 162,047.68
0.07 PNW PINNACLE WEST CAPITAL 2048804 66.90 2,417 161,697.30
0.07 ADC AGREE REALTY CORP 2062161 55.31 2,791 154,370.21
0.07 SJM JM SMUCKER CO/THE 2951452 121.83 1,267 154,358.61
0.07 AAPL APPLE INC 2046251 181.42 841 152,574.22
0.07 APD AIR PRODS & CHEM 2011602 232.41 639 148,509.99
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 01/31/24

Sector Weight (%)
Financials 24.7
Information Technology 22.6
Industrials 13.8
Consumer Discretionary 11.0
Communication Services 9.5
Materials 6.4
Health Care 5.5
Energy 3.9
Consumer Staples 2.1
Real Estate 0.5

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Packaged Software 8.9
Semiconductors 7.9
Regional Banks 7.2
Internet Software/Services 6.2
Industrial Machinery 5.2
Pharmaceuticals: Major 3.7
Finance/Rental/Leasing 3.5
Multi-Line Insurance 3.1
Major Banks 3.1
Trucks/Construction/Farm Machinery 2.6
Information Technology Services 2.5
Other 46.1

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 02/27/24

Return on Equity 13.90%
Weighted Avg. Market Cap 195,601 M
2023 2024
Price-to-earnings 14.06 13.62
Price-to-book value 1.98 1.80

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/24

Versus Beta
S&P 500 0.77
NASDAQ-100 0.44
MSCI EAFE 0.73
MSCI Emg. Mkts 0.42
Standard Deviation 15.50%

Source: new windowAltaVista Research, LLC

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 01/31, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 383 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.