EMBD


Emerging Markets Bond ETFActive

Reasons to Consider EMBD

Experienced Portfolio Managers

EMBD’s portfolio managers have extensive track records in actively-managed emerging market debt strategies.

Competitive Cost

At a 0.39% Total Expense Ratio, EMBD offers the outperformance potential and risk management of active portfolio managers, at a competitive cost.

High Yield Potential

By targeting emerging market debt securities, EMBD aims to offer high yields with low correlations to other fixed income securities.

Key Information As of 06/02/23

Inception Date 06/01/20
Total Expense Ratio 0.39%
Net Assets $111.82 million
NAV $21.50
Fact Sheet

ETF Summary

The Global X Emerging Markets Bond ETF (EMBD) is an actively managed fund sub-advised by Mirae Asset Global Investments (USA) LLC that seeks a high level of total return, consisting of both income and capital appreciation, by investing in emerging market debt. EMBD primarily invests in emerging market debt securities denominated in U.S. dollars, however, the Fund may also invest in those denominated in applicable local foreign currencies. Securities may include fixed-rate and floating-rate debt instruments issued by sovereign, quasi-sovereign, and corporate entities from emerging market countries.

EMBD’s portfolio managers incorporate both top-down macro views consistent with the firm’s Investment Committee and bottom-up fundamental research to evaluate the investment attractiveness of select countries and companies that are believed to offer superior risk-adjusted returns. The portfolio managers determine country allocation primarily based on economic indicators, industry structure, terms of trade, political environment and geopolitical issues.  In addition, the portfolio managers conduct relative valuation analysis on sovereign and corporate issues to tactically identify potential opportunities to enhance the Fund’s risk-adjusted returns. The portfolio managers may dynamically adjust the top-down and bottom-up strategies of the Fund to better reflect market developments.

ETF Objective

The Global X Emerging Markets Bond ETF (EMBD) seeks a high level of total return consisting of both income and capital appreciation.

Trading Details As of 06/01/23

Ticker EMBD
Bloomberg IOPV Ticker EMBDIV
CUSIP 37954Y350
ISIN US37954Y3505
Primary Exchange NYSE Arca
Shares Outstanding 5,200,000
Number of Holdings 193
30-Day Median Bid-Ask Spread 0.56%

Distributions As of 06/02/23

30-Day SEC Yield 6.37%
12-Month Trailing Yield 4.69%
Distribution Yield 4.87%
Distribution Frequency Monthly

ETF Prices As of 06/02/23

NAV $21.50 Daily Change $0.07 0.33%
Market Price $21.62 Daily Change -$0.01 -0.05%

Performance History

As of recent
(03/31/23)
As of recent
(03/31/23)
Fund NAV Market Price Benchmark
1 Year -4.85% -4.88% -7.64%
Since Inception -0.33% -0.07% -3.20%
1 Year -0.79% -0.27% -2.23%
Since Inception -0.39% -0.23% -3.13%
Year-to-Date 1.91% 2.80% 1.91%
1 Month 1.29% 1.94% 1.13%
3 Months 1.91% 2.80% 1.91%
Since Inception -0.94% -0.18% -8.80%
Year-to-Date 1.68% 2.28% 1.59%
1 Month -0.81% -1.03% -0.78%
3 Months 1.06% 1.42% 0.80%
Since Inception -1.17% -0.69% -9.10%

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 06/02/23

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.63 T 0 1/4 11/15/23 BN7JWS2 0.98 3,000,000 2,932,596.80
1.94 PERU 8 3/4 11/21/33 2172833 1.27 1,700,000 2,155,620.43
1.60 BRAZIL 6 10/20/33 BN6QD25 0.99 1,800,000 1,786,359.69
1.54 BNCE 2.72 08/11/31 BMYXTZ6 0.86 2,000,000 1,712,281.93
1.50 ESKOM 6.35 08/10/28 BF2F610 0.93 1,800,000 1,674,901.68
1.42 T 3 07/31/24 BQ7Y9Q5 0.99 1,600,000 1,578,332.17
1.40 T 3 3/8 05/15/33 BQYLTK3 0.98 1,600,000 1,561,228.26
1.40 REPHUN 6 1/4 09/22/32 BPXYFH5 1.04 1,500,000 1,556,643.03
1.32 ARAMCO 1 1/4 11/24/23 BNM52D0 0.98 1,500,000 1,469,258.36
1.27 SOAF 4.85 09/30/29 BKRQ5R2 0.88 1,600,000 1,410,339.13
1.26 ICLIT 6 3/8 05/31/38 BF3SP44 1.00 1,400,000 1,402,537.69
1.26 BGOSK 5 3/8 05/22/33 BNC3K29 1.00 1,400,000 1,401,049.40
1.21 ADGB 2 1/2 04/16/25 BLGVN48 0.96 1,400,000 1,349,224.25
1.18 OMAN 5 5/8 01/17/28 BFWM9S9 1.01 1,300,000 1,317,111.84
1.13 IVYCST 6 1/8 06/15/33 BYW5KQ6 0.90 1,400,000 1,258,754.81
1.04 Cash and Equivalents 1.00 1,161,909 1,161,908.50
1.03 KSA 3 3/4 01/21/55 BKVBFR3 0.76 1,500,000 1,146,159.36
1.01 PEMEX 10 02/07/33 BQXLQ25 0.93 1,200,000 1,119,884.86
1.00 PETMK 4.55 04/21/50 BMD2JQ5 0.93 1,200,000 1,115,890.30
0.94 IDASAL 6.53 11/15/28 BFMVHJ3 1.04 1,000,000 1,041,587.70
0.93 ECUA 2 1/2 07/31/35 BMGR2G8 0.35 3,000,000 1,038,692.07
0.93 CCUCI 3.35 01/19/32 BMVFJF5 0.87 1,200,000 1,038,340.83
0.93 OMAN 6 1/4 01/25/31 BMXYFP2 1.04 1,000,000 1,037,806.84
0.93 PEMEX 5.95 01/28/31 BLNBRW7 0.74 1,400,000 1,037,628.45
0.92 ROMANI 3 5/8 03/27/32 BNGFH97 0.86 1,200,000 1,028,392.66
0.90 BAC 4.948 07/22/28 BNDK8X6 1.01 1,000,000 1,006,336.32
0.82 QATAR 4.4 04/16/50 BL6KL96 0.92 1,000,000 915,751.15
0.82 COLOM 3 7/8 04/25/27 BYX7RT3 0.91 1,000,000 909,538.22
0.81 PHILIP 6 3/8 10/23/34 B55JJ76 1.13 800,000 903,731.15
0.81 JPM 1.578 04/22/27 BKVKLQ1 0.90 1,000,000 900,096.94
0.79 DOMREP 4 1/2 01/30/30 BJV2X64 0.88 1,000,000 882,672.28
0.79 ANGOL 8 3/4 04/14/32 BP2R4G7 0.87 1,000,000 874,850.77
0.77 GCCAMM 3.614 04/20/32 BNZHZN4 0.86 1,000,000 859,640.93
0.76 DOMREP 4 7/8 09/23/32 BJP84G5 0.85 1,000,000 850,031.88
0.74 CHILE 4 01/31/52 BNSMDK9 0.82 1,000,000 818,130.92
0.73 POLAND 5 1/2 04/04/53 BN7B125 1.02 800,000 815,068.62
0.73 INDON 4.55 01/11/28 BNNSSB8 1.01 800,000 811,629.37
0.72 PEMEX 6.84 01/23/30 BMBTPL5 0.81 1,000,000 805,826.14
0.72 JBYCMX 2 1/2 10/14/31 BNG6XN6 0.81 1,000,000 805,120.22
0.71 INTLWT 5.95 12/15/39 BF19226 0.99 798,400 794,355.91
0.71 EIGPRL 4.387 11/30/46 BMX5H71 0.79 1,000,000 788,178.77
0.70 TGPERU 4 1/4 04/30/28 B7ZRB45 0.97 800,000 777,997.16
0.69 ADGB 3 1/8 10/11/27 BF0M765 0.96 800,000 769,546.74
0.68 CKHH 4 7/8 04/21/33 2KYKB56 1.01 750,000 754,753.65
0.67 ARAMCO 3 1/2 04/16/29 BK0MP44 0.94 800,000 749,770.44
0.67 OCPMR 5 1/8 06/23/51 BKMGKM7 0.74 1,000,000 743,521.46
0.64 MOROC 2 3/8 12/15/27 BMHCD58 0.89 800,000 709,606.22
0.64 ANGSJ 3 3/8 11/01/28 BMX71K8 0.88 800,000 707,009.35
0.63 OMAN 5 3/8 03/08/27 BF04YK4 1.00 700,000 698,035.71
0.62 SERBIA 6 1/2 09/26/33 BPTJVP4 0.99 700,000 692,982.77
0.62 REPHUN 5 1/2 06/16/34 BMZ0K20 0.99 700,000 692,945.54
0.61 COLOM 5.2 05/15/49 BGC21T1 0.68 1,000,000 675,372.40
0.60 SHJGOV 4 3/8 03/10/51 BMV3380 0.67 1,000,000 671,135.31
0.60 SENEGL 6 3/4 03/13/48 BF2LTP3 0.67 1,000,000 666,991.03
0.60 KZOKZ 6 3/8 10/24/48 BFM6YV9 0.83 800,000 662,487.80
0.58 MEX 6.35 02/09/35 BNM9D06 1.08 600,000 645,392.92
0.58 ROMANI 3 02/27/27 BNGFD66 0.92 700,000 645,158.19
0.57 ORBIA 2 7/8 05/11/31 BMBVMW1 0.79 800,000 634,461.24
0.57 MEX 4.4 02/12/52 BNSP0K7 0.79 800,000 630,332.62
0.56 ECUA 1 1/2 07/31/40 BMGR2K2 0.31 2,000,000 620,460.04
0.56 REPHUN 6 3/4 09/25/52 BPXYFD1 1.03 600,000 618,368.37
0.55 PEMEX 7.69 01/23/50 BMYVTL6 0.68 900,000 615,868.97
0.55 OMAN 6 08/01/29 BHNV376 1.03 600,000 615,262.94
0.55 ARGENT 3 7/8 01/09/38 BNC1841 0.31 2,000,000 611,930.40
0.55 HYUELE 2 3/8 01/19/31 BMV7YQ7 0.76 800,000 611,669.56
0.55 COSTAR 6 1/8 02/19/31 BJLPZ01 1.02 600,000 610,176.85
0.55 TENGIZ 3 1/4 08/15/30 BLCBBX7 0.76 800,000 607,396.38
0.54 ECOPET 5 7/8 05/28/45 BMQXLW5 0.67 900,000 599,716.37
0.54 KSA 4 1/2 04/17/30 BFNRZX0 1.00 600,000 598,648.52
0.53 PARGUY 5 04/15/26 BD2MDP0 0.99 600,000 593,799.01
0.53 PERU 3.55 03/10/51 BMV33J1 0.74 800,000 593,755.74
0.53 PETMK 3 1/2 03/18/25 BWCH433 0.98 600,000 589,391.22
0.53 JPM 3.96 01/29/27 BHQTTL3 0.98 600,000 587,841.12
0.52 SOAF 7.3 04/20/52 BMB0723 0.83 700,000 583,320.02
0.52 QATAR 4.817 03/14/49 BH3JG26 0.97 600,000 579,598.16
0.52 MEX 4 3/4 04/27/32 BMXPS56 0.96 600,000 577,153.73
0.52 EXIMBK 3 7/8 02/01/28 BYW9648 0.96 600,000 576,594.31
0.52 CHILE 3.24 02/06/28 BFYTTF5 0.96 600,000 575,109.99
0.51 BRAZIL 4 1/2 05/30/29 BJ6R944 0.95 600,000 570,053.40
0.51 RAILBZ 4.2 01/18/32 BK9RV20 0.81 700,000 567,800.88
0.51 EGYPT 7 5/8 05/29/32 BMHWV98 0.56 1,000,000 564,237.61
0.51 EGYPT 5 7/8 02/16/31 BLH1TJ4 0.56 1,000,000 562,778.08
0.51 ROMANI 4 02/14/51 BMVZ933 0.70 800,000 562,379.72
0.50 ARGENT 1 1/2 07/09/35 BNC1788 0.24 2,300,000 560,456.81
0.49 T 0 3/8 11/30/25 BLH34N9 0.91 600,000 545,263.45
0.49 SILAMX 5 3/8 04/04/32 BQ71VH1 0.91 600,000 543,965.79
0.49 BIMBOA 4.7 11/10/47 BF4ZDY0 0.90 600,000 542,921.32
0.48 CDEL 3 09/30/29 BKPGX25 0.89 600,000 533,603.17
0.48 PANAMA 6.4 02/14/35 BP0XN37 1.06 500,000 531,911.06
0.48 SOAF 5 7/8 04/20/32 BMB0734 0.89 600,000 531,026.64
0.48 PANAMA 3.87 07/23/60 BJVN8G2 0.66 800,000 530,576.59
0.47 SOAF 4.3 10/12/28 BYYHFB0 0.88 600,000 527,767.05
0.47 VALEBZ 6 7/8 11/21/36 B1HMKF0 1.05 500,000 523,537.57
0.46 PTTGC 5.2 03/30/52 BPSNPD3 0.86 600,000 516,555.59
0.46 INRCON 3 1/4 03/22/28 BNNLHG5 0.86 600,000 514,461.79
0.46 SCCO 5 7/8 04/23/45 BWXV3J3 1.02 500,000 508,006.42
0.45 PEMEX 6 1/2 01/23/29 BHNZPJ4 0.84 600,000 504,389.92
0.45 ROMANI 3 02/14/31 BMVVYM5 0.84 600,000 503,326.73
0.45 ENAPCL 6.15 05/10/33 BRJQTX3 1.00 500,000 499,931.11
0.45 DOMREP 5.95 01/25/27 BYX80W0 1.00 500,000 499,505.57
0.45 DOMREP 6.4 06/05/49 BGLJW45 0.83 600,000 497,661.27
0.44 ORBIA 5 1/2 01/15/48 BZ2Z1C6 0.82 600,000 492,944.75
0.44 REPHUN 3 1/8 09/21/51 BN6KY68 0.61 800,000 490,190.98
0.44 TURKEY 5 1/4 03/13/30 BKLJ975 0.82 600,000 489,525.82
0.43 SASOL 5 1/2 03/18/31 BNNLH09 0.80 600,000 481,503.50
0.41 AITOCU 5 1/8 08/11/61 BMCH585 0.77 600,000 461,328.65
0.41 KENINT 8 1/4 02/28/48 BF2J2B4 0.77 600,000 459,920.55
0.41 CHILE 3 1/2 01/25/50 BKKGS47 0.76 600,000 453,734.97
0.41 VALEBZ 3 3/4 07/08/30 BMVPRC8 0.90 500,000 450,947.79
0.40 PANAMA 4 1/2 04/01/56 BK8TZM5 0.75 600,000 448,399.28
0.39 EGYPT 8.7002 03/01/49 BGSGVT7 0.54 800,000 431,554.07
0.38 INDON 5.65 01/11/53 BNNMQT4 1.06 400,000 424,726.00
0.38 PHILIP 5 1/2 01/17/48 BQBFM09 1.06 400,000 423,601.75
0.37 SGCAZE 6 7/8 03/24/26 BD05CV0 1.03 400,000 413,971.34
0.37 SHJGOV 6 1/2 11/23/32 BN4D0K5 1.02 400,000 408,521.13
0.37 SHJGOV 6 1/2 11/23/32 BMTY4N7 1.02 400,000 408,521.13
0.37 NGERIA 7 5/8 11/28/47 BF2RBB1 0.68 600,000 406,894.09
0.36 PERU 5 5/8 11/18/50 B63ZT39 1.01 400,000 405,713.15
0.36 TURKEY 5 3/4 05/11/47 BD3N0C8 0.67 600,000 400,861.50
0.36 BRAZIL 4 5/8 01/13/28 BYPHD82 1.00 400,000 398,474.19
0.35 DOMREP 6 07/19/28 BF2WX32 0.99 400,000 394,679.14
0.35 ROMANI 5 1/4 11/25/27 BMBN001 0.99 400,000 394,204.78
0.35 PANAMA 3 3/4 03/16/25 BWC9V16 0.98 400,000 393,582.96
0.35 QATAR 3.4 04/16/25 BL6BZC0 0.98 400,000 392,776.68
0.35 ARAMCO 2 7/8 04/16/24 BK0MNZ1 0.98 400,000 392,602.46
0.35 JORDAN 5 3/4 01/31/27 BYWVG66 0.97 400,000 386,468.72
0.35 PARGUY 4.95 04/28/31 BL6FQ07 0.96 400,000 384,989.52
0.34 SOAF 4.85 09/27/27 BD35XS1 0.94 400,000 375,562.93
0.33 TURKEY 4 3/4 01/26/26 BMDJ3V9 0.92 400,000 367,811.69
0.33 EGYPT 8 7/8 05/29/50 BMQC081 0.52 700,000 366,365.54
0.33 COLOM 3 1/4 04/22/32 BN7N9J4 0.73 500,000 366,321.23
0.33 NGERIA 7.696 02/23/38 BF3TZV4 0.73 500,000 365,752.73
0.32 PRXNA 4.987 01/19/52 BPCQJS1 0.72 500,000 358,248.39
0.31 MEX 5 04/27/51 BMXPS67 0.86 400,000 343,299.69
0.30 BRAZIL 5 5/8 02/21/47 BYM8140 0.84 400,000 337,731.48
0.30 PTTGC 2.98 03/18/31 BNNHLV6 0.84 400,000 336,026.60
0.30 TOPTB 5 3/8 11/20/48 BG0M201 0.84 400,000 334,951.32
0.30 PHILIP 3.7 02/02/42 BYWYT99 0.83 400,000 333,569.61
0.30 ARGENT 3 1/2 07/09/41 BNC1852 0.27 1,200,000 329,948.60
0.30 KSA 2 1/4 02/02/33 BMFDCG7 0.82 400,000 329,462.42
0.29 NGERIA 9.248 01/21/49 BGT0PS5 0.81 400,000 325,349.76
0.28 EGYPT 7.903 02/21/48 BYWJDR0 0.52 600,000 311,205.04
0.28 REPHUN 2 1/8 09/22/31 BNZJFF2 0.77 400,000 308,619.43
0.27 TURKEY 6 5/8 02/17/45 BJW06D5 0.76 400,000 304,751.32
0.27 COLOM 3 1/8 04/15/31 BM8HHM7 0.75 400,000 301,720.90
0.27 PRXNA 3.832 02/08/51 BNBRK44 0.60 500,000 299,731.37
0.27 ADGB 3 1/8 09/30/49 BKPGWX9 0.74 400,000 295,293.78
0.25 PETMK 3 1/2 04/21/30 BMD2JR6 0.94 300,000 282,666.87
0.24 BHRAIN 5 1/4 01/25/33 BN4N9S6 0.88 300,000 262,621.09
0.24 AGROSU 4.6 01/20/32 BMW3668 0.87 300,000 262,317.52
0.23 CKHH 4 3/4 04/21/28 BRJQHZ1 1.01 250,000 251,920.49
0.23 CKHH 4 7/8 04/21/33 BRJPH92 1.01 250,000 251,584.55
0.22 GHANA 8 1/8 03/26/32 BJ1DHP4 0.41 600,000 243,000.00
0.21 FRIDPT 5.315 04/14/32 BNYNN06 0.94 250,000 235,638.33
0.21 GHANA 8.627 06/16/49 BF5L3S1 0.38 600,000 230,274.00
0.20 SRILAN 7.55 03/28/30 BJ7PMW6 0.36 600,000 218,244.07
0.20 SRILAN 6 3/4 04/18/28 BFWRZN1 0.36 600,000 218,186.09
0.19 GASBCM 6.51 02/23/42 BMZQ4R1 1.06 200,000 212,885.39
0.19 GASBCM 6.129 02/23/38 BMZQ307 1.05 200,000 209,453.53
0.19 MOROC 6 1/2 09/08/33 BQXR5C6 1.04 200,000 208,479.35
0.19 PERTIJ 6.45 05/30/44 BMW3NT0 1.03 200,000 205,804.32
0.18 COSTAR 6.55 04/03/34 BNW12W7 1.02 200,000 204,341.10
0.18 DOMREP 7.05 02/03/31 BQXTZM2 1.01 200,000 202,677.23
0.18 URUGUA 4 3/8 01/23/31 BHXJX58 1.01 200,000 202,608.00
0.18 DPWDU 4.848 09/26/28 BFCMGH7 1.01 200,000 201,493.04
0.18 SOAF 5 7/8 09/16/25 BDS54C7 1.00 200,000 200,578.21
0.18 BHRAIN 6 3/4 09/20/29 BFB5LX8 1.00 200,000 199,889.48
0.18 ECUA 5 1/2 07/31/30 BMGR2C4 0.50 400,000 199,649.59
0.18 KSA 4 3/8 04/16/29 BHN6649 0.99 200,000 198,919.26
0.18 OMAN 4 3/4 06/15/26 BZB1G08 0.99 200,000 198,887.51
0.18 ADGB 0 3/4 09/02/23 BMZMQT5 0.99 200,000 197,927.83
0.18 KUWIB 3 1/2 03/20/27 BF1TGW4 0.99 200,000 197,127.70
0.18 QATAR 3 3/4 04/16/30 BL6BZF3 0.98 200,000 196,270.68
0.17 PANAMA 3 7/8 03/17/28 BYSXF47 0.96 200,000 192,501.01
0.17 PLNIJ 4 1/8 05/15/27 BF3W9X3 0.96 200,000 192,182.58
0.17 PERU 2.392 01/23/26 BMGFFS5 0.95 200,000 189,329.89
0.17 ADNOUH 4.6 11/02/47 BD6JB75 0.95 200,000 189,005.38
0.16 UKRAIN 7 3/8 09/25/34 BF226G6 0.18 1,000,000 179,912.00
0.16 FRIDPT 6.2 04/14/52 BNYNMZ4 0.90 200,000 179,670.36
0.16 TENGIZ 4 08/15/26 BDCPB11 0.90 200,000 179,179.23
0.16 TURKEY 6 1/8 10/24/28 BFZYKC3 0.89 200,000 177,697.21
0.16 COLOM 4 1/8 05/15/51 BM8M272 0.59 300,000 177,062.02
0.16 PERU 2.783 01/23/31 BMGFFR4 0.87 200,000 173,431.07
0.15 EIGPRL 3.545 08/31/36 BMX5H82 0.86 200,000 172,010.10
0.15 DPWDU 4.7 09/30/49 BJLBK60 0.84 200,000 168,732.01
0.15 PERU 3 01/15/34 BNTYXY8 0.83 200,000 166,970.49
0.14 GHANA 8.95 03/26/51 BJ1DJB4 0.39 400,000 154,192.00
0.12 MOROC 4 12/15/50 BMHFZL7 0.69 200,000 137,050.40
0.12 EGYPT 5.8 09/30/27 BMGCCJ6 0.64 200,000 128,429.48
0.10 UKRAIN 7.253 03/15/35 BMJ17V7 0.18 600,000 108,600.00
0.10 ELSALV 7.1246 01/20/50 BJBLT29 0.53 200,000 105,702.32
0.09 T 0 1/4 09/30/23 BMCV822 0.98 100,000 98,405.15
0.07 UKRAIN 7 3/4 09/01/26 BZ09DX5 0.19 400,000 75,640.00
0.07 UKRAIN 7 3/4 09/01/28 BYSRS62 0.19 400,000 75,438.40
-0.49 Other receivables and payables 1.00 -550,551 -550,551.04
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 06/02/23

Macaulay Duration 7.5 Years
Modified Duration 7.25 Years
Yield to Maturity 7.29%
Issuer Type Breakdown
Government 56.78%
Corporate 34.73%
Other 7.09%

Source: AltaVista Research, LLC

ETF Research

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Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.

High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. EMBD is actively managed, which could increase its transaction costs (thereby lowering its performance) and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. EMBD is non-diversified.

As an actively managed Fund, EMBD does not seek to replicate a specified index and is subject to increased credit and default risk, where there is an inability or unwillingness by the issuer of a fixed income security to meet its financial obligations, debt extension risk, where an issuer may exercise its right to pay principal on an obligation later than expected, as well as interest rate/maturity risk, where the value of the Fund’s fixed income assets will decline because of rising interest rates.

EMBD may invest in securities denominated in foreign currencies. Because the Fund’s NAV is determined in U.S. dollars, the EMBD’s NAV could decline if currencies of the underlying securities depreciate against the U.S. dollar or if there are delays or limits on repatriation of such currencies. Currency exchange rates can be very volatile and can change quickly and unpredictably.

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. The 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, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

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 JPMorgan, nor does JPMorgan 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 JPMorgan.

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