XRMI

S&P 500 Risk Managed Income ETF

Fund Summary

The Global X S&P 500 Risk Managed Income ETF (XRMI) employs a protective net-credit collar¹ strategy for investors seeking the income characteristics of a covered call fund, while mitigating the risks of a major market selloff with a protective put. XRMI seeks to achieve this outcome by owning the stocks in the S&P 500 Index (SPX), while buying 5% out-of-the-money put options² on SPX and selling at-the-money call options on the same index.

Fund Objective

The Global X S&P 500 Risk Managed Income ETF (XRMI) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 Risk Managed Income Index.

Why XRMI?

Alternative Income Source

XRMI seeks to generate an alternative source of income by selling covered calls.

Risk-Minded Approach

XRMI buys protective puts to mitigate the risks of a major market selloff.

Monthly Distributions

XRMI expects to make distributions on a monthly basis.

¹A protective net-credit collar strategy is a mix of short (sold) call options and long (purchased) put options where the premiums received from the sale of the call options will be greater than the premium paid when buying the put options

²An out-of-the-money put option conveys the right, but not the obligation, to sell an underlying asset at a strike price below that underlying asset’s market price; an out-of-the-money call option conveys the right, but not the obligation, to buy an underlying asset at a strike price above that underlying asset’s market price (learn more)

Fund Details As of 09/22/21

Key Facts

Ticker	XRMI
Inception Date	08/25/21
CUSIP	37960A206
ISIN	US37960A2069
Bloomberg Index Ticker	CLL1M
Primary Exchange	NYSE Arca
Number of Holdings	506

Stats & Fees

Net Assets	$2,642,469
Net Asset Value (NAV)	$26.42
Shares Outstanding	100,000
Total Expense Ratio	0.60%

Distributions

30-Day SEC Yield	N/A
Distribution Frequency	Monthly

Fund Documents

Fund Research

The Case for Risk Managed Income ETFs

Fund Prices As of 09/22/21

NAV	$26.42	Daily Change	$0.09	0.33%
Market Price	$26.45	Daily Change	$0.08	0.29%
30-Day Median Bid-Ask Spread	0.00%

As of recent (06/30/21)	Fund NAV	Market Price	Index
Year-to-Date	--	--	--
1 Month	--	--	--
3 Months	--	--	--
Since Inception	--	--	--
Year-to-Date	--	--	--
1 Month	--	--	1.82%
3 Months	--	--	--
Since Inception	0.15%	0.37%	0.19%

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 of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.

Fund Characteristics As of 09/22/21

Return on Equity	21.00%
Weighted Avg. Market Cap	633,533 M
	2020	2021
Price-to-earnings	31.71	22.07
Price-to-book value	5.03	4.28

Source: AltaVista Research, LLC

Option Positions	Notional Exposure	Strike	Moneyness	Expiration Date	Calendar Days to Expiry
Short S&P 500 Mini Call Option	-$2,637,384	445	98.80%	10/15/2021	23
Long S&P 500 Mini Put Option	$2,637,384	422	96.00%	10/15/2021	23

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
6.14	AAPL	APPLE INC	2046251	145.85	1,113	162,331.05
6.01	MSFT	MICROSOFT CORP	2588173	298.58	532	158,844.56
3.97	AMZN	AMAZON.COM INC	2000019	3,380.05	31	104,781.55
2.23	GOOGL	ALPHABET INC-CL A	BYVY8G0	2,805.67	21	58,919.07
2.18	FB	FACEBOOK INC-CLASS A	B7TL820	343.21	168	57,659.28
2.13	GOOG	ALPHABET INC-CL C	BYY88Y7	2,818.77	20	56,375.40
1.65	TSLA	TESLA INC	B616C79	751.94	58	43,612.52
1.45	NVDA	NVIDIA CORP	2379504	219.41	175	38,396.75
1.38	BRK/B	BERKSHIRE HATH-B	2073390	274.07	133	36,451.31
1.26	JPM	JPMORGAN CHASE & CO	2190385	155.91	214	33,364.74
1.15	JNJ	JOHNSON & JOHNSON	2475833	163.93	185	30,327.05
1.02	UNH	UNITEDHEALTH GROUP INC	2917766	408.70	66	26,974.20
1.00	V	VISA INC-CLASS A SHARES	B2PZN04	222.75	118	26,284.50
0.95	HD	HOME DEPOT INC	2434209	335.93	75	25,194.75
0.95	PG	PROCTER & GAMBLE CO/THE	2704407	143.60	174	24,986.40
0.86	DIS	WALT DISNEY CO/THE	2270726	173.65	131	22,748.15
0.85	PYPL	PAYPAL HOLDINGS INC	BYW36M8	272.34	82	22,331.88
0.81	MA	MASTERCARD INC - A	B121557	343.41	62	21,291.42
0.81	ADBE	ADOBE INC	2008154	626.08	34	21,286.72
0.81	BAC	BANK OF AMERICA CORP	2295677	40.14	530	21,274.20
0.75		XSP US 10/15/21 P422		328.50	60	19,710.00
0.72	NFLX	NETFLIX INC	2857817	590.65	32	18,900.80
0.70	CMCSA	COMCAST CORP-CLASS A	2044545	56.02	332	18,598.64
0.69	CRM	SALESFORCE.COM INC	2310525	259.17	70	18,141.90
0.68	PFE	PFIZER INC	2684703	43.95	406	17,843.70
0.64	CSCO	CISCO SYSTEMS INC	2198163	55.52	306	16,989.12
0.64	TMO	THERMO FISHER	2886907	606.63	28	16,985.64
0.64	XOM	EXXON MOBIL CORP	2326618	55.21	307	16,949.47
0.62	VZ	VERIZON COMMUNIC	2090571	54.06	301	16,272.06
0.60	ABT	ABBOTT LABORATORIES	2002305	124.65	127	15,830.55
0.59	INTC	INTEL CORP	2463247	53.50	293	15,675.50
0.58	PEP	PEPSICO INC	2681511	154.01	100	15,401.00
0.58	ACN	ACCENTURE PLC-CL A	B4BNMY3	334.66	46	15,394.36
0.58	KO	COCA-COLA CO/THE	2206657	54.13	282	15,264.66
0.56	DHR	DANAHER CORP	2250870	324.13	46	14,909.98
0.55	NKE	NIKE INC -CL B	2640147	157.44	93	14,641.92
0.55	COST	COSTCO WHOLESALE CORP	2701271	452.33	32	14,474.56
0.54	WMT	WALMART INC	2936921	142.69	100	14,269.00
0.53	T	AT&T INC	2831811	27.01	520	14,045.20
0.53	AVGO	BROADCOM INC	BDZ78H9	500.59	28	14,016.52
0.51	CVX	CHEVRON CORP	2838555	97.64	138	13,474.32
0.51	WFC	WELLS FARGO & CO	2649100	47.08	285	13,417.80
0.51	ABBV	ABBVIE INC	B92SR70	106.41	126	13,407.66
0.50	LLY	ELI LILLY & CO	2516152	228.30	58	13,241.40
0.50	TXN	TEXAS INSTRUMENTS INC	2885409	195.92	67	13,126.64
0.49	MRK	MERCK & CO. INC.	2778844	72.04	181	13,039.24
0.49	MCD	MCDONALD'S CORP	2550707	243.13	53	12,885.89
0.47	MDT	MEDTRONIC PLC	BTN1Y11	128.28	96	12,314.88
0.43	NEE	NEXTERA ENERGY INC	2328915	81.90	140	11,466.00
0.43	PM	PHILIP MORRIS IN	B2PKRQ3	100.51	114	11,458.14
0.43	INTU	INTUIT INC	2459020	562.80	20	11,256.00
0.42	LIN	LINDE PLC	BZ12WP8	306.06	36	11,018.16
0.42	MRNA	MODERNA INC	BGSXTS3	440.72	25	11,018.00
0.41	QCOM	QUALCOMM INC	2714923	133.01	82	10,906.82
0.41	HON	HONEYWELL INTL	2020459	217.02	50	10,851.00
0.40	ORCL	ORACLE CORP	2661568	88.44	120	10,612.80
0.40	LOW	LOWE'S COS INC	2536763	208.89	50	10,444.50
0.38	MS	MORGAN STANLEY	2262314	100.80	100	10,080.00
0.37	AMT	AMERICAN TOWER CORP	B7FBFL2	293.55	33	9,687.15
0.36	BMY	BRISTOL-MYERS SQUIBB CO	2126335	60.15	159	9,563.85
0.36	C	CITIGROUP INC	2297907	68.24	140	9,553.60
0.35	UNP	UNION PACIFIC CORP	2914734	198.07	47	9,309.29
0.35	NOW	SERVICENOW INC	B80NXX8	662.65	14	9,277.10
0.35	UPS	UNITED PARCEL-B	2517382	185.30	50	9,265.00
0.35	RTX	RAYTHEON TECHNOL	BM5M5Y3	85.27	108	9,209.16
0.34	AMD	ADVANCED MICRO DEVICES	2007849	104.38	87	9,081.06
0.34	SBUX	STARBUCKS CORP	2842255	113.07	80	9,045.60
0.34	AMAT	APPLIED MATERIALS INC	2046552	138.10	65	8,976.50
0.34	GS	GOLDMAN SACHS GROUP INC	2407966	385.47	23	8,865.81
0.33	TGT	TARGET CORP	2259101	241.77	36	8,703.72
0.33	BA	BOEING CO/THE	2108601	216.98	40	8,679.20
0.33	IBM	IBM	2005973	134.63	64	8,616.32
0.32	AMGN	AMGEN INC	2023607	213.64	40	8,545.60
0.32	BLK	BLACKROCK INC	2494504	851.05	10	8,510.50
0.31	ISRG	INTUITIVE SURGICAL INC	2871301	1,028.47	8	8,227.76
0.30	AXP	AMERICAN EXPRESS CO	2026082	167.49	48	8,039.52
0.30	GE	GENERAL ELECTRIC CO	BL59CR9	98.54	79	7,784.66
0.29	CAT	CATERPILLAR INC	2180201	191.35	40	7,654.00
0.29	SPGI	S&P GLOBAL INC	BYV2325	445.64	17	7,575.88
0.29	CVS	CVS HEALTH CORP	2577609	83.86	90	7,547.40
0.29	SCHW	SCHWAB (CHARLES) CORP	2779397	70.40	107	7,532.80
0.27	BKNG	BOOKING HOLDINGS INC	BDRXDB4	2,406.11	3	7,218.33
0.27	MMM	3M CO	2595708	179.84	40	7,193.60
0.26	ZTS	ZOETIS INC	B95WG16	201.35	34	6,845.90
0.26	DE	DEERE & CO	2261203	340.84	20	6,816.80
0.26	ADI	ANALOG DEVICES INC	2032067	173.85	39	6,780.15
0.26	CHTR	CHARTER COMMUN-A	BZ6VT82	751.55	9	6,763.95
0.25	SYK	STRYKER CORP	2853688	271.65	24	6,519.60
0.25	PLD	PROLOGIS INC	B44WZD7	130.01	50	6,500.50
0.24	GILD	GILEAD SCIENCES INC	2369174	71.38	90	6,424.20
0.24	ANTM	ANTHEM INC	BSPHGL4	375.49	17	6,383.33
0.24	MO	ALTRIA GROUP INC	2692632	48.24	132	6,367.68
0.23	LMT	LOCKHEED MARTIN CORP	2522096	341.73	18	6,151.14
0.23	MDLZ	MONDELEZ INTER-A	B8CKK03	60.56	100	6,056.00
0.23	LRCX	LAM RESEARCH CORP	2502247	601.10	10	6,011.00
0.23	MU	MICRON TECHNOLOGY INC	2588184	73.97	81	5,991.57
0.23	MMC	MARSH & MCLENNAN COS	2567741	157.08	38	5,969.04
0.23	ADP	AUTOMATIC DATA PROCESSING	2065308	198.31	30	5,949.30
0.21	PNC	PNC FINANCIAL SE	2692665	187.67	30	5,630.10
0.21	CCI	CROWN CASTLE INTL CORP	BTGQCX1	187.46	30	5,623.80
0.21	COP	CONOCOPHILLIPS	2685717	62.26	90	5,603.40
0.21	TJX	TJX COMPANIES INC	2989301	69.53	80	5,562.40
0.21	DUK	DUKE ENERGY CORP	B7VD3F2	98.54	55	5,419.70
0.21	EL	ESTEE LAUDER	2320524	318.56	17	5,415.52
0.20	EW	EDWARDS LIFESCIENCES CORP	2567116	119.66	45	5,384.70
0.20	FIS	FIDELITY NATIONA	2769796	122.07	44	5,371.08
0.20	CB	CHUBB LTD	B3BQMF6	176.93	30	5,307.90
0.20	GM	GENERAL MOTORS CO	B665KZ5	50.78	104	5,281.12
0.20	CI	CIGNA CORP	BHJ0775	201.99	26	5,251.74
0.20	USB	US BANCORP	2736035	57.92	90	5,212.80
0.20	REGN	REGENERON PHARMACEUTICALS	2730190	647.06	8	5,176.48
0.20	EQIX	EQUINIX INC	BVLZX12	860.12	6	5,160.72
0.19	BDX	BECTON DICKINSON AND CO	2087807	256.80	20	5,136.00
0.19	CME	CME GROUP INC	2965839	189.33	27	5,111.91
0.19	TMUS	T-MOBILE US INC	B94Q9V0	127.73	40	5,109.20
0.19	AON	AON PLC-CLASS A	BLP1HW5	299.08	17	5,084.36
0.19	SHW	SHERWIN-WILLIAMS CO/THE	2804211	291.99	17	4,963.83
0.19	TFC	TRUIST FINANCIAL CORP	BKP7287	54.74	90	4,926.60
0.18	COF	CAPITAL ONE FINA	2654461	159.62	30	4,788.60
0.18	ETN	EATON CORP PLC	B8KQN82	156.43	30	4,692.90
0.18	ICE	INTERCONTINENTAL	BFSSDS9	116.91	40	4,676.40
0.18	HCA	HCA HEALTHCARE INC	B4MGBG6	258.25	18	4,648.50
0.17	WM	WASTE MANAGEMENT INC	2937667	153.42	30	4,602.60
0.17	CL	COLGATE-PALMOLIVE CO	2209106	76.43	60	4,585.80
0.17	ADSK	AUTODESK INC	2065159	286.42	16	4,582.72
0.17	BSX	BOSTON SCIENTIFIC CORP	2113434	44.31	102	4,519.62
0.17	CSX	CSX CORP	2160753	29.86	150	4,479.00
0.17	SO	SOUTHERN CO/THE	2829601	63.61	70	4,452.70
0.17	MCO	MOODY'S CORP	2252058	370.38	12	4,444.56
0.17	APD	AIR PRODS & CHEM	2011602	257.94	17	4,384.98
0.17	FISV	FISERV INC	2342034	108.69	40	4,347.60
0.16	ILMN	ILLUMINA INC	2613990	434.59	10	4,345.90
0.16	D	DOMINION ENERGY INC	2542049	74.84	58	4,340.72
0.16	ITW	ILLINOIS TOOL WORKS	2457552	215.67	20	4,313.40
0.16	NSC	NORFOLK SOUTHERN CORP	2641894	239.52	18	4,311.36
0.16	NXPI	NXP SEMICONDUCTORS NV	B505PN7	213.08	20	4,261.60
0.16	FDX	FEDEX CORP	2142784	229.08	18	4,123.44
0.15	IDXX	IDEXX LABORATORIES INC	2459202	671.47	6	4,028.82
0.15	HUM	HUMANA INC	2445063	400.35	10	4,003.50
0.15	DXCM	DEXCOM INC	B0796X4	570.42	7	3,992.94
0.15	ECL	ECOLAB INC	2304227	220.86	18	3,975.48
0.15	IQV	IQVIA HOLDINGS INC	BDR73G1	259.75	15	3,896.25
0.15	MSCI	MSCI INC	B2972D2	645.15	6	3,870.90
0.15	CMG	CHIPOTLE MEXICAN	B0X7DZ3	1,935.04	2	3,870.08
0.15	EMR	EMERSON ELECTRIC CO	2313405	95.50	40	3,820.00
0.14	DG	DOLLAR GENERAL CORP	B5B1S13	219.02	17	3,723.34
0.14	ROP	ROPER TECHNOLOGIES INC	2749602	460.97	8	3,687.76
0.14	VRTX	VERTEX PHARM	2931034	184.27	20	3,685.40
0.14	PGR	PROGRESSIVE CORP	2705024	92.04	40	3,681.60
0.14	KLAC	KLA CORP	2480138	365.51	10	3,655.10
0.14	JCI	JOHNSON CONTROLS	BY7QL61	72.82	50	3,641.00
0.14	ATVI	ACTIVISION BLIZZARD INC	2575818	72.81	50	3,640.50
0.14	ALGN	ALIGN TECHNOLOGY INC	2679204	716.61	5	3,583.05
0.14	LHX	L3HARRIS TECHNOLOGIES INC	BK9DTN5	222.73	16	3,563.68
0.13	INFO	IHS MARKIT LTD	BD0Q558	122.37	29	3,548.73
0.13	TROW	T ROWE PRICE GROUP INC	2702337	206.93	17	3,517.81
0.13	NOC	NORTHROP GRUMMAN CORP	2648806	348.52	10	3,485.20
0.13	EXC	EXELON CORP	2670519	49.38	70	3,456.60
0.13	A	AGILENT TECHNOLOGIES INC	2520153	172.44	20	3,448.80
0.13	F	FORD MOTOR CO	2615468	13.23	260	3,439.80
0.13	GD	GENERAL DYNAMICS CORP	2365161	193.75	17	3,293.75
0.12	CARR	CARRIER GLOBAL CORP	BK4N0D7	52.59	62	3,260.58
0.12	CDNS	CADENCE DESIGN SYS INC	2302232	162.23	20	3,244.60
0.12	MCHP	MICROCHIP TECHNOLOGY INC	2592174	161.49	20	3,229.80
0.12	AIG	AMERICAN INTERNA	2027342	53.71	60	3,222.60
0.12	GPN	GLOBAL PAYMENTS INC	2712013	161.13	20	3,222.60
0.12	TWTR	TWITTER INC	BFLR866	64.25	50	3,212.50
0.12	SNPS	SYNOPSYS INC	2867719	320.52	10	3,205.20
0.12	KMB	KIMBERLY-CLARK CORP	2491839	133.44	24	3,202.56
0.12	DLR	DIGITAL REALTY TRUST INC	B03GQS4	159.53	20	3,190.60
0.12	FCX	FREEPORT-MCMORAN INC	2352118	31.56	100	3,156.00
0.12	ORLY	O'REILLY AUTOMOTIVE INC	B65LWX6	620.26	5	3,101.30
0.12	TT	TRANE TECHNOLOGIES PLC	BK9ZQ96	182.37	17	3,100.29
0.12	PSA	PUBLIC STORAGE	2852533	309.19	10	3,091.90
0.12	TRV	TRAVELERS COS INC/THE	2769503	154.38	20	3,087.60
0.12	MTD	METTLER-TOLEDO	2126249	1,542.78	2	3,085.56
0.12	XLNX	XILINX INC	2985677	153.82	20	3,076.40
0.12	MTCH	MATCH GROUP INC	BK80XH9	153.65	20	3,073.00
0.11	APH	AMPHENOL CORP-CL A	2145084	75.56	40	3,022.40
0.11	FTNT	FORTINET INC	B5B2106	301.62	10	3,016.20
0.11	PRU	PRUDENTIAL FINANCIAL INC	2819118	100.05	30	3,001.50
0.11	EOG	EOG RESOURCES INC	2318024	74.60	40	2,984.00
0.11	AEP	AMERICAN ELECTRIC POWER	2026242	82.72	36	2,977.92
0.11	MET	METLIFE INC	2573209	59.45	50	2,972.50
0.11	ROST	ROSS STORES INC	2746711	114.19	26	2,968.94
0.11	EBAY	EBAY INC	2293819	73.21	40	2,928.40
0.11	BAX	BAXTER INTERNATIONAL INC	2085102	81.05	36	2,917.80
0.11	APTV	APTIV PLC	B783TY6	145.17	20	2,903.40
0.11	BIIB	BIOGEN INC	2455965	289.32	10	2,893.20
0.11	MAR	MARRIOTT INTL-A	2210614	144.40	20	2,888.00
0.11	RMD	RESMED INC	2732903	288.48	10	2,884.80
0.11	SBAC	SBA COMMUNICATIONS CORP	BZ6TS23	358.48	8	2,867.84
0.11	CTSH	COGNIZANT TECH-A	2257019	75.39	38	2,864.82
0.11	PH	PARKER HANNIFIN CORP	2671501	285.40	10	2,854.00
0.11	DOW	DOW INC	BHXCF84	56.30	50	2,815.00
0.11	TEL	TE CONNECTIVITY LTD	B62B7C3	140.54	20	2,810.80
0.11	CTAS	CINTAS CORP	2197137	396.20	7	2,773.40
0.10	NEM	NEWMONT CORP	2636607	54.65	50	2,732.50
0.10	WST	WEST PHARMACEUT	2950482	449.18	6	2,695.08
0.10	SPG	SIMON PROPERTY GROUP INC	2812452	133.64	20	2,672.80
0.10	IFF	INTL FLAVORS & FRAGRANCES	2464165	131.82	20	2,636.40
0.10	EFX	EQUIFAX INC	2319146	262.68	10	2,626.80
0.10	ALL	ALLSTATE CORP	2019952	130.36	20	2,607.20
0.10	SRE	SEMPRA ENERGY	2138158	129.74	20	2,594.80
0.10	HLT	HILTON WORLDWIDE	BYVMW06	129.19	20	2,583.80
0.10	WELL	WELLTOWER INC	BYVYHH4	85.44	30	2,563.20
0.10		CASH		1.00	2,555	2,555.20
0.10	OTIS	OTIS WORLDWIDE CORP	BK531S8	84.29	30	2,528.70
0.10	EA	ELECTRONIC ARTS INC	2310194	126.40	20	2,528.00
0.10	XEL	XCEL ENERGY INC	2614807	63.19	40	2,527.60
0.10	DD	DUPONT DE NEMOURS INC	BK0VN47	68.27	37	2,525.99
0.10	CNC	CENTENE CORP	2807061	62.94	40	2,517.60
0.10	TDG	TRANSDIGM GROUP INC	B11FJK3	629.09	4	2,516.36
0.10	YUM	YUM! BRANDS INC	2098876	125.55	20	2,511.00
0.10	ANSS	ANSYS INC	2045623	357.84	7	2,504.88
0.10	FRC	FIRST REPUBLIC BANK/CA	B4WHY15	192.64	13	2,504.32
0.10	MNST	MONSTER BEVERAGE CORP	BZ07BW4	92.57	27	2,499.39
0.09	BK	BANK NY MELLON	B1Z77F6	49.93	50	2,496.50
0.09	DFS	DISCOVER FINANCI	B1YLC43	124.62	20	2,492.40
0.09	PPG	PPG INDUSTRIES INC	2698470	145.26	17	2,469.42
0.09	SLB	SCHLUMBERGER LTD	2779201	27.15	90	2,443.50
0.09	SIVB	SVB FINANCIAL GROUP	2808053	607.83	4	2,431.32
0.09	ROK	ROCKWELL AUTOMATION INC	2754060	301.94	8	2,415.52
0.09	PXD	PIONEER NATURAL	2690830	150.05	16	2,400.80
0.09	WBA	WALGREENS BOOTS	BTN1Y44	48.01	50	2,400.50
0.09	GIS	GENERAL MILLS INC	2367026	59.92	40	2,396.80
0.09	MPC	MARATHON PETROLEUM CORP	B3K3L40	59.91	40	2,396.40
0.09	MSI	MOTOROLA SOLUTIONS INC	B5BKPQ4	239.15	10	2,391.50
0.09	ADM	ARCHER-DANIELS-MIDLAND CO	2047317	58.99	40	2,359.60
0.09	SYY	SYSCO CORP	2868165	77.70	30	2,331.00
0.09	AWK	AMERICAN WATER W	B2R3PV1	177.72	13	2,310.36
0.09	WLTW	WILLIS TOWERS WATSON PLC	BDB6Q21	230.94	10	2,309.40
0.09	KEYS	KEYSIGHT TECHNOLOGIES IN	BQZJ0Q9	176.72	13	2,297.36
0.09	AJG	ARTHUR J GALLAGHER & CO	2359506	151.39	15	2,270.85
0.09	AVB	AVALONBAY COMMUNITIES INC	2131179	223.48	10	2,234.80
0.08	ALB	ALBEMARLE CORP	2046853	223.28	10	2,232.80
0.08	CMI	CUMMINS INC	2240202	221.62	10	2,216.20
0.08	GNRC	GENERAC HOLDINGS INC	B6197Q2	442.27	5	2,211.35
0.08	HPQ	HP INC	BYX4D52	27.59	80	2,207.20
0.08	ETSY	ETSY INC	BWTN5N1	219.37	10	2,193.70
0.08	ZBRA	ZEBRA TECH CORP	2989356	547.58	4	2,190.32
0.08	PAYX	PAYCHEX INC	2674458	109.37	20	2,187.40
0.08	ZBH	ZIMMER BIOMET HO	2783815	145.70	15	2,185.50
0.08	AME	AMETEK INC	2089212	127.84	17	2,173.28
0.08	CPRT	COPART INC	2208073	144.35	15	2,165.25
0.08	FAST	FASTENAL CO	2332262	53.23	40	2,129.20
0.08	TSCO	TRACTOR SUPPLY COMPANY	2900335	211.87	10	2,118.70
0.08	STZ	CONSTELLATION-A	2170473	211.30	10	2,113.00
0.08	CTVA	CORTEVA INC	BK73B42	41.94	50	2,097.00
0.08	KMI	KINDER MORGAN INC	B3NQ4P8	16.13	130	2,096.90
0.08	ODFL	OLD DOMINION FREIGHT LINE	2656423	296.73	7	2,077.11
0.08	URI	UNITED RENTALS INC	2134781	345.90	6	2,075.40
0.08	AFL	AFLAC INC	2026361	51.88	40	2,075.20
0.08	AMP	AMERIPRISE FINANCIAL INC	B0J7D57	259.13	8	2,073.04
0.08	VRSK	VERISK ANALYTICS INC	B4P9W92	205.56	10	2,055.60
0.08	LH	LABORATORY CP	2586122	291.46	7	2,040.22
0.08	MCK	MCKESSON CORP	2378534	202.63	10	2,026.30
0.08	LUV	SOUTHWEST AIRLINES CO	2831543	50.65	40	2,026.00
0.08	PSX	PHILLIPS 66	B78C4Y8	67.01	30	2,010.30
0.08	KR	KROGER CO	2497406	40.10	50	2,005.00
0.08	WMB	WILLIAMS COS INC	2967181	25.03	80	2,002.40
0.08	PAYC	PAYCOM SOFTWARE INC	BL95MY0	500.45	4	2,001.80
0.08	WAT	WATERS CORP	2937689	395.58	5	1,977.90
0.07	ARE	ALEXANDRIA REAL	2009210	196.54	10	1,965.40
0.07	LEN	LENNAR CORP-A	2511920	98.07	20	1,961.40
0.07	VLO	VALERO ENERGY CORP	2041364	65.32	30	1,959.60
0.07	FITB	FIFTH THIRD BANCORP	2336747	39.05	50	1,952.50
0.07	NDAQ	NASDAQ INC	2965107	194.50	10	1,945.00
0.07	NUE	NUCOR CORP	2651086	97.18	20	1,943.60
0.07	SYF	SYNCHRONY FINANCIAL	BP96PS6	48.35	40	1,934.00
0.07	CBRE	CBRE GROUP INC - A	B6WVMH3	95.85	20	1,917.00
0.07	MAA	MID-AMERICA APAR	2589132	190.28	10	1,902.80
0.07	IT	GARTNER INC	2372763	316.55	6	1,899.30
0.07	O	REALTY INCOME CORP	2724193	67.76	28	1,897.28
0.07	CDW	CDW CORP/DE	BBM5MD6	189.63	10	1,896.30
0.07	KSU	KANSAS CITY SOUTHERN	2607647	269.93	7	1,889.51
0.07	RSG	REPUBLIC SERVICES INC	2262530	124.49	15	1,867.35
0.07	GLW	CORNING INC	2224701	37.32	50	1,866.00
0.07	BLL	BALL CORP	2073022	92.95	20	1,859.00
0.07	PKI	PERKINELMER INC	2305844	185.05	10	1,850.50
0.07	PEG	PUB SERV ENTERP	2707677	61.02	30	1,830.60
0.07	LYB	LYONDELLBASELL INDU-CL A	B3SPXZ3	91.23	20	1,824.60
0.07	WEC	WEC ENERGY GROUP INC	BYY8XK8	91.23	20	1,824.60
0.07	WY	WEYERHAEUSER CO	2958936	36.41	50	1,820.50
0.07	SWK	STANLEY BLACK &	B3Q2FJ4	181.81	10	1,818.10
0.07	TRMB	TRIMBLE INC	2903958	90.54	20	1,810.80
0.07	EXR	EXTRA SPACE STORAGE INC	B02HWR9	179.18	10	1,791.80
0.07	CRL	CHARLES RIVER LA	2604336	446.34	4	1,785.36
0.07	DHI	DR HORTON INC	2250687	88.47	20	1,769.40
0.07	MLM	MARTIN MARIETTA MATERIALS	2572079	350.26	5	1,751.30
0.07	ANET	ARISTA NETWORKS INC	BN33VM5	350.16	5	1,750.80
0.07	VMC	VULCAN MATERIALS CO	2931205	174.25	10	1,742.50
0.07	COO	COOPER COS INC/THE	2222631	433.76	4	1,735.04
0.07	QRVO	QORVO INC	BR9YYP4	173.33	10	1,733.30
0.07	SWKS	SKYWORKS SOLUTIONS INC	2961053	172.92	10	1,729.20
0.07	HSY	HERSHEY CO/THE	2422806	172.39	10	1,723.90
0.07	TDY	TELEDYNE TECHNOLOGIES INC	2503477	427.25	4	1,709.00
0.07	BBY	BEST BUY CO INC	2094670	106.80	16	1,708.80
0.07	MKC	MCCORMICK-N/V	2550161	85.33	20	1,706.60
0.07	DLTR	DOLLAR TREE INC	2272476	85.25	20	1,705.00
0.06	GRMN	GARMIN LTD	B3Z5T14	169.35	10	1,693.50
0.06	IP	INTERNATIONAL PAPER CO	2465254	56.13	30	1,683.90
0.06	AZO	AUTOZONE INC	2065955	1,683.76	1	1,683.76
0.06	AEE	AMEREN CORPORATION	2050832	83.57	20	1,671.40
0.06	CHD	CHURCH & DWIGHT CO INC	2195841	83.21	20	1,664.20
0.06	DAL	DELTA AIR LINES INC	B1W9D46	41.59	40	1,663.60
0.06	STT	STATE STREET CORP	2842040	83.15	20	1,663.00
0.06	ES	EVERSOURCE ENERGY	BVVN4Q8	82.95	20	1,659.00
0.06	CZR	CAESARS ENTERTAINMENT INC	BMWWGB0	109.91	15	1,648.65
0.06	ESS	ESSEX PROPERTY TRUST INC	2316619	329.64	5	1,648.20
0.06	OKE	ONEOK INC	2130109	54.85	30	1,645.50
0.06	BR	BROADRIDGE FINL	B1VP7R6	164.10	10	1,641.00
0.06	EQR	EQUITY RESIDENTIAL	2319157	81.37	20	1,627.40
0.06	DOV	DOVER CORP	2278407	162.25	10	1,622.50
0.06	CLX	CLOROX COMPANY	2204026	162.19	10	1,621.90
0.06	GWW	WW GRAINGER INC	2380863	402.18	4	1,608.72
0.06	OXY	OCCIDENTAL PETROLEUM CORP	2655408	26.75	60	1,605.00
0.06	TECH	BIO-TECHNE CORP	BSHZ3Q0	533.00	3	1,599.00
0.06	NTRS	NORTHERN TRUST CORP	2648668	106.43	15	1,596.45
0.06	DTE	DTE ENERGY COMPANY	2280220	113.95	14	1,595.30
0.06	EXPE	EXPEDIA GROUP INC	B748CK2	158.95	10	1,589.50
0.06	PCAR	PACCAR INC	2665861	79.42	20	1,588.40
0.06	IR	INGERSOLL-RAND INC	BL5GZ82	52.90	30	1,587.00
0.06	ENPH	ENPHASE ENERGY INC	B65SQW4	158.21	10	1,582.10
0.06	BIO	BIO-RAD LABORATORIES-A	2098508	785.64	2	1,571.28
0.06	VIAC	VIACOMCBS INC - CLASS B	BKTNTR9	39.20	40	1,568.00
0.06	FLT	FLEETCOR TECHNOLOGIES INC	B4R28B3	256.89	6	1,541.34
0.06	HOLX	HOLOGIC INC	2433530	76.74	20	1,534.80
0.06	TFX	TELEFLEX INC	2881407	383.33	4	1,533.32
0.06	DGX	QUEST DIAGNOSTICS INC	2702791	152.71	10	1,527.10
0.06	MPWR	MONOLITHIC POWER	B01Z7J1	507.93	3	1,523.79
0.06	STE	STERIS PLC	BFY8C75	215.71	7	1,509.97
0.06	TSN	TYSON FOODS INC-CL A	2909730	75.48	20	1,509.60
0.06	VRSN	VERISIGN INC	2142922	214.87	7	1,504.09
0.06	ULTA	ULTA BEAUTY INC	B28TS42	375.85	4	1,503.40
0.06	DRI	DARDEN RESTAURANTS INC	2289874	150.32	10	1,503.20
0.06	DPZ	DOMINO'S PIZZA INC	B01SD70	495.52	3	1,486.56
0.06	FE	FIRSTENERGY CORP	2100920	36.86	40	1,474.40
0.06	ED	CONSOLIDATED EDISON INC	2216850	73.25	20	1,465.00
0.06	FTV	FORTIVE CORP	BYT3MK1	73.20	20	1,464.00
0.06	CERN	CERNER CORP	2185284	72.96	20	1,459.20
0.06	CE	CELANESE CORP	B05MZT4	145.67	10	1,456.70
0.06	TTWO	TAKE-TWO INTERAC	2122117	145.25	10	1,452.50
0.06	HBAN	HUNTINGTON BANCSHARES INC	2445966	14.50	100	1,450.00
0.06	KHC	KRAFT HEINZ CO/THE	BYRY499	36.13	40	1,445.20
0.05	NTAP	NETAPP INC	2630643	89.98	16	1,439.68
0.05	PPL	PPL CORP	2680905	28.48	50	1,424.00
0.05	HES	HESS CORP	2023748	70.82	20	1,416.40
0.05	KMX	CARMAX INC	2983563	140.51	10	1,405.10
0.05	TYL	TYLER TECHNOLOGIES INC	2909644	467.91	3	1,403.73
0.05	ABMD	ABIOMED INC	2003698	348.96	4	1,395.84
0.05	PEAK	HEALTHPEAK PROPERTIES INC	BJBLRK3	34.62	40	1,384.80
0.05	HIG	HARTFORD FINL SV	2476193	68.93	20	1,378.60
0.05	CTLT	CATALENT INC	BP96PQ4	137.21	10	1,372.10
0.05	POOL	POOL CORP	2781585	456.00	3	1,368.00
0.05	RCL	ROYAL CARIBBEAN	2754907	85.33	16	1,365.28
0.05	MTB	M & T BANK CORP	2340168	136.50	10	1,365.00
0.05	XYL	XYLEM INC	B3P2CN8	133.16	10	1,331.60
0.05	BBWI	BATH & BODY WORKS INC	BNNTGJ5	66.42	20	1,328.40
0.05	VFC	VF CORP	2928683	66.05	20	1,321.00
0.05	J	JACOBS ENGIN GRP	2469052	130.54	10	1,305.40
0.05	RJF	RAYMOND JAMES	2718992	86.92	15	1,303.80
0.05	IEX	IDEX CORP	2456612	215.20	6	1,291.20
0.05	MGM	MGM RESORTS INTERNATIONAL	2547419	43.02	30	1,290.60
0.05	CFG	CITIZENS FINANCIAL GROUP	BQRX1X3	42.68	30	1,280.40
0.05	AVY	AVERY DENNISON CORP	2066408	213.39	6	1,280.34
0.05	MKTX	MARKETAXESS HOLDINGS INC	B03Q9D0	425.65	3	1,276.95
0.05	K	KELLOGG CO	2486813	63.22	20	1,264.40
0.05	EVRG	EVERGY INC	BFMXGR0	62.83	20	1,256.60
0.05	PFG	PRINCIPAL FINANCIAL GROUP	2803014	62.57	20	1,251.40
0.05	WHR	WHIRLPOOL CORP	2960384	207.37	6	1,244.22
0.05	CBOE	CBOE GLOBAL MARKETS INC	B5834C5	123.99	10	1,239.90
0.05	EXPD	EXPEDITORS INTL WASH INC	2325507	123.04	10	1,230.40
0.05	CMS	CMS ENERGY CORP	2219224	61.49	20	1,229.80
0.05	GPC	GENUINE PARTS CO	2367480	122.34	10	1,223.40
0.05	ABC	AMERISOURCEBERGEN CORP	2795393	122.09	10	1,220.90
0.05	KEY	KEYCORP	2490911	20.31	60	1,218.60
0.05	DVN	DEVON ENERGY CORP	2480677	30.44	40	1,217.60
0.05	PTC	PTC INC	B95N910	121.09	10	1,210.90
0.05	SJM	JM SMUCKER CO/THE	2951452	120.57	10	1,205.70
0.05	HAL	HALLIBURTON CO	2405302	19.75	60	1,185.00
0.05	HPE	HEWLETT PACKA	BYVYWS0	13.16	90	1,184.40
0.05	TER	TERADYNE INC	2884183	118.31	10	1,183.10
0.05	CCL	CARNIVAL CORP	2523044	23.61	50	1,180.50
0.04	AMCR	AMCOR PLC	BJ1F307	11.74	100	1,174.00
0.04	BKR	BAKER HUGHES CO	BDHLTQ5	23.44	50	1,172.00
0.04	RF	REGIONS FINANCIAL CORP	B01R311	19.52	60	1,171.20
0.04	EIX	EDISON INTERNATIONAL	2829515	58.35	20	1,167.00
0.04	PWR	QUANTA SERVICES INC	2150204	115.87	10	1,158.70
0.04	LNT	ALLIANT ENERGY CORP	2973821	57.44	20	1,148.80
0.04	CINF	CINCINNATI FINANCIAL CORP	2196888	114.46	10	1,144.60
0.04	WDC	WESTERN DIGITAL CORP	2954699	56.58	20	1,131.60
0.04	MAS	MASCO CORP	2570200	56.51	20	1,130.20
0.04	VTR	VENTAS INC	2927925	56.21	20	1,124.20
0.04	BXP	BOSTON PROPERTIES INC	2019479	111.21	10	1,112.10
0.04	IPG	INTERPUBLIC GRP	2466321	36.99	30	1,109.70
0.04	CTXS	CITRIX SYSTEMS INC	2182553	109.04	10	1,090.40
0.04	AKAM	AKAMAI TECHNOLOGIES INC	2507457	108.66	10	1,086.60
0.04	CDAY	CERIDIAN HCM HOLDING INC	BFX1V56	108.59	10	1,085.90
0.04	UDR	UDR INC	2727910	53.64	20	1,072.80
0.04	SNA	SNAP-ON INC	2818740	212.02	5	1,060.10
0.04	VTRS	VIATRIS INC	BMWS3X9	13.25	80	1,060.00
0.04	ETR	ENTERGY CORP	2317087	105.99	10	1,059.90
0.04	AAP	ADVANCE AUTO PARTS INC	2822019	211.21	5	1,056.05
0.04	CAH	CARDINAL HEALTH INC	2175672	51.01	20	1,020.20
0.04	RE	EVEREST RE GROUP LTD	2556868	253.38	4	1,013.52
0.04	LKQ	LKQ CORP	2971029	50.56	20	1,011.20
0.04	JBHT	HUNT (JB) TRANS	2445416	168.51	6	1,011.06
0.04	RHI	ROBERT HALF INTL INC	2110703	100.95	10	1,009.50
0.04	EMN	EASTMAN CHEMICAL CO	2298386	100.17	10	1,001.70
0.04	CAG	CONAGRA BRANDS INC	2215460	33.30	30	999.00
0.04	NLOK	NORTONLIFELOCK INC	BJN4XN5	24.94	40	997.60
0.04	DRE	DUKE REALTY CORP	2284084	49.42	20	988.40
0.04	PKG	PACKAGING CORP OF AMERICA	2504566	140.74	7	985.18
0.04	CNP	CENTERPOINT ENERGY INC	2440637	24.56	40	982.40
0.04	WRK	WESTROCK CO	BYR0914	48.85	20	977.00
0.04	BRO	BROWN & BROWN INC	2692687	57.40	17	975.80
0.04	PHM	PULTEGROUP INC	2708841	47.88	20	957.60
0.04	AES	AES CORP	2002479	23.67	40	946.80
0.04	HAS	HASBRO INC	2414580	94.31	10	943.10
0.04	FMC	FMC CORP	2328603	94.04	10	940.40
0.04	HWM	HOWMET AEROSPACE INC	BKLJ8V2	31.11	30	933.30
0.04	FBHS	FORTUNE BRANDS H	B3MC7D6	93.23	10	932.30
0.04	LDOS	LEIDOS HOLDINGS INC	BDV82B8	92.21	10	922.10
0.04	UAL	UNITED AIRLINES	B4QG225	45.68	20	913.60
0.03	IRM	IRON MOUNTAIN INC	BVFTF03	44.78	20	895.60
0.03	ATO	ATMOS ENERGY CORP	2315359	88.75	10	887.50
0.03	LYV	LIVE NATION ENTE	B0T7YX2	88.32	10	883.20
0.03	GL	GLOBE LIFE INC	BK6YKG1	87.91	10	879.10
0.03	LUMN	LUMEN TECHNOLOGIES INC	BMDH249	12.55	70	878.50
0.03	CHRW	CH ROBINSON	2116228	87.51	10	875.10
0.03	KIM	KIMCO REALTY CORP	2491594	21.84	40	873.60
0.03	WAB	WABTEC CORP	2955733	86.86	10	868.60
0.03	BWA	BORGWARNER INC	2111955	42.70	20	854.00
0.03	DISH	DISH NETWORK CORP-A	2303581	42.35	20	847.00
0.03	FANG	DIAMONDBACK ENERGY INC	B7Y8YR3	84.38	10	843.80
0.03	JKHY	JACK HENRY	2469193	168.76	5	843.80
0.03	NRG	NRG ENERGY INC	2212922	42.18	20	843.60
0.03	STX	SEAGATE TECHNOLO	BKVD2N4	82.94	10	829.40
0.03	HST	HOST HOTELS & RESORTS INC	2567503	16.52	50	826.00
0.03	AAL	AMERICAN AIRLINE	BCV7KT2	20.52	40	820.80
0.03	ALLE	ALLEGION PLC	BFRT3W7	136.37	6	818.22
0.03	HRL	HORMEL FOODS CORP	2437264	40.84	20	816.80
0.03	WYNN	WYNN RESORTS LTD	2963811	80.79	10	807.90
0.03	FFIV	F5 NETWORKS INC	2427599	198.59	4	794.36
0.03	TPR	TAPESTRY INC	BF09HX3	38.98	20	779.60
0.03	HSIC	HENRY SCHEIN INC	2416962	76.86	10	768.60
0.03	HII	HUNTINGTON INGAL	B40SSC9	191.47	4	765.88
0.03	FOXA	FOX CORP - CLASS A	BJJMGL2	38.21	20	764.20
0.03	PNR	PENTAIR PLC	BLS09M3	75.34	10	753.40
0.03	PENN	PENN NATIONAL GAMING INC	2682105	73.74	10	737.40
0.03	MHK	MOHAWK INDUSTRIES INC	2598699	184.08	4	736.32
0.03	CMA	COMERICA INC	2212870	73.57	10	735.70
0.03	PNW	PINNACLE WEST CAPITAL	2048804	72.95	10	729.50
0.03	UHS	UNIVERSAL HLTH-B	2923785	145.65	5	728.25
0.03	OMC	OMNICOM GROUP	2279303	72.44	10	724.40
0.03	NI	NISOURCE INC	2645409	24.13	30	723.90
0.03	WRB	WR BERKLEY CORP	2093644	72.29	10	722.90
0.03	LVS	LAS VEGAS SANDS CORP	B02T2J7	36.12	20	722.40
0.03	TXT	TEXTRON INC	2885937	69.66	10	696.60
0.03	INCY	INCYTE CORP	2471950	69.59	10	695.90
0.03	DXC	DXC TECHNOLOGY CO	BYXD7B3	34.78	20	695.60
0.03	NWSA	NEWS CORP - CLASS A	BBGVT40	23.12	30	693.60
0.03	BF/B	BROWN-FORMAN CORP-CLASS B	2146838	68.60	10	686.00
0.03	REG	REGENCY CENTERS CORP	2726177	68.09	10	680.90
0.03	MOS	MOSAIC CO/THE	B3NPHP6	33.18	20	663.60
0.03	OGN	ORGANON & CO	BLDC8J4	32.65	20	653.00
0.02	LNC	LINCOLN NATIONAL CORP	2516378	64.42	10	644.20
0.02	AIZ	ASSURANT INC	2331430	160.09	4	640.36
0.02	IPGP	IPG PHOTONICS CORP	2698782	159.59	4	638.36
0.02	AOS	SMITH (A.O.) CORP	2816023	63.77	10	637.70
0.02	BEN	FRANKLIN RESOURCES INC	2350684	30.56	20	611.20
0.02	LW	LAMB WESTON HOLDINGS INC	BDQZFJ3	61.02	10	610.20
0.02	DVA	DAVITA INC	2898087	121.11	5	605.55
0.02	MRO	MARATHON OIL CORP	2910970	12.02	50	601.00
0.02	WU	WESTERN UNION CO	B1F76F9	20.00	30	600.00
0.02	XRAY	DENTSPLY SIRONA INC	BYNPPC6	59.63	10	596.30
0.02	FRT	FEDERAL REALTY INVS TRUST	2333931	118.66	5	593.30
0.02	COG	CABOT OIL & GAS CORP	2162340	19.36	30	580.80
0.02	ALK	ALASKA AIR GROUP INC	2012605	57.45	10	574.50
0.02	ZION	ZIONS BANCORP NA	2989828	56.91	10	569.10
0.02	SEE	SEALED AIR CORP	2232793	56.37	10	563.70
0.02	JNPR	JUNIPER NETWORKS INC	2431846	27.77	20	555.40
0.02	PVH	PVH CORP	B3V9F12	107.56	5	537.80
0.02	L	LOEWS CORP	2523022	52.37	10	523.70
0.02	NCLH	NORWEGIAN CRUISE	B9CGTC3	26.01	20	520.20
0.02	CF	CF INDUSTRIES HO	B0G4K50	50.42	10	504.20
0.02	DISCK	DISCOVERY INC-C	B3D7KG4	24.48	20	489.60
0.02	IVZ	INVESCO LTD	B28XP76	24.29	20	485.80
0.02	NWL	NEWELL BRANDS INC	2635701	23.96	20	479.20
0.02	PBCT	PEOPLE'S UNITED FINANCIAL	B1W41J2	15.93	30	477.90
0.02	LEG	LEGGETT & PLATT INC	2510682	45.89	10	458.90
0.02	TAP	MOLSON COORS-B	B067BM3	45.63	10	456.30
0.02	VNO	VORNADO REALTY TRUST	2933632	42.54	10	425.40
0.02	CPB	CAMPBELL SOUP CO	2162845	42.36	10	423.60
0.02	APA	APA CORP	BNNF1C1	20.12	20	402.40
0.02	NLSN	NIELSEN HOLDINGS PLC	BWFY550	19.53	20	390.60
0.01	ROL	ROLLINS INC	2747305	37.54	10	375.40
0.01	HBI	HANESBRANDS INC	B1BJSL9	18.50	20	370.00
0.01	FOX	FOX CORP - CLASS B	BJJMGY5	35.42	10	354.20
0.01	RL	RALPH LAUREN CORP	B4V9661	112.56	3	337.69
0.01	DISCA	DISCOVERY INC - A	B3D7K31	25.44	10	254.40
0.01	GPS	GAP INC/THE	2360326	23.63	10	236.30
0.01	NWS	NEWS CORP - CLASS B	BBGVT51	22.53	10	225.30
0.01	UAA	UNDER ARMOUR INC-CLASS A	B0PZN11	20.76	10	207.60
0.01	UA	UNDER ARMOUR INC-CLASS C	BDF9YM2	18.28	10	182.80
-0.88		XSP US 10/15/21 C445		388.00	-60	-23,280.00

Holdings are subject to change.

Latest Premium / Discount As of 09/22/21

NAV	$26.42
Market Price	$26.45
Premium / (Discount)	$0.03

Current View 2021 Q3 As of 09/22/21

Days at Premium	18
Days at NAV	1
Days at Discount	1
Greatest Premium	0.25%
Greatest Discount	-0.02%

Daily Premium / Discount History As of 09/22/21

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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. Concentration in a particular industry or sector will subject XRMI to loss due to adverse occurrences that may affect that industry or sector. Investors in XRMI should be willing to accept a high degree of volatility in the price of the fund’s shares and the possibility of significant losses.

XRMI engages in options trading. An option is a contract sold by one party to another that gives the buyer the right, but not the obligation, to buy (call) or sell (put) a stock at an agreed upon price within a certain period or on a specific date. A collar strategy involves holding shares of the underlying stock while simultaneously buying put options and selling call options against that holding. XRMI writes covered call index options on the and purchases put options on S&P 500 Index. By selling covered call options, the fund limits its opportunity to profit from an increase in the price of the underlying index above the exercise price. By purchasing put options, in return for the payment of premiums, the Fund may be protected from a significant decline in the price of the S&P 500 Index if the put options become in the money (S&P 500 closes below the strike price as of the expiration date); but during periods where the S&P 500 Index appreciates, the Fund will underperform due to the cost of the premiums paid. A liquid market may not exist for options held by the Fund. While the fund receives premiums for writing the call options, the price it realizes from the exercise of an option could be substantially below the indices current market price.

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.

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 S&P or Cboe, nor do these entities 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 these entities.