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EMBD

Emerging Markets Bond ETFActive

Overview Prices & Performance Holdings & Characteristics Research Documents

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%

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.

Net Assets (%)	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

EMBD Quarterly Commentary

Introducing The Global X Emerging Markets Bond ETF (EMBD)

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ETF Documents

Latest Premium / Discount As of 06/02/23

NAV	$21.50
Market Price	$21.62
Premium / (Discount)	$0.12

Current View 2023 Q2 As of 06/02/23

Days at Premium	39
Days at NAV	0
Days at Discount	4
Greatest Premium	0.93%
Greatest Discount	-0.18%

Daily Premium / Discount History As of 06/02/23

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How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

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.