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AUSF

Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 379 Mid-Cap Value funds, based on risk-adjusted returns as of 08/31/2023

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 10/02/23

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $163.92 million
NAV $31.34
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 10/02/23

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 5,230,002
Number of Holdings 186
30-Day Median Bid-Ask Spread 0.25%

Distributions As of 10/02/23

30-Day SEC Yield 1.31%
Distribution Frequency Quarterly

ETF Prices As of 10/02/23

NAV $31.34 Daily Change -$0.13 -0.41%
Market Price $31.37 Daily Change -$0.10 -0.32%

Performance History

As of recent month & quarter-end (09/30/23)
As of recent month & quarter-end (09/30/23)
Fund NAV Market Price Index
1 Year 13.71% 13.67% 14.27%
3 Years 15.43% 15.49% 15.77%
5 Years 7.99% 7.98% 8.34%
Since Inception 7.83% 7.83% 8.17%
1 Year 13.71% 13.67% 14.27%
3 Years 15.43% 15.49% 15.77%
5 Years 7.99% 7.98% 8.34%
Since Inception 7.83% 7.83% 8.17%
Year-to-Date 2.82% 2.89% 3.09%
1 Month -4.69% -4.75% -4.67%
3 Months -0.53% -0.62% -0.45%
Since Inception 46.94% 46.94% 49.33%
Year-to-Date 2.82% 2.89% 3.09%
1 Month -4.69% -4.75% -4.67%
3 Months -0.53% -0.62% -0.45%
Since Inception 46.94% 46.94% 49.33%

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 10/02/23

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
3.38 LLY ELI LILLY & CO 2516152 538.29 10,288 5,537,927.52
2.71 GE GENERAL ELECTRIC CO BL59CR9 108.79 40,773 4,435,694.67
2.60 NVDA NVIDIA CORP 2379504 447.82 9,520 4,263,246.40
2.55 AVGO BROADCOM INC BDZ78H9 834.95 5,001 4,175,584.95
2.55 ORCL ORACLE CORP 2661568 106.71 39,107 4,173,107.97
2.18 NFLX NETFLIX INC 2857817 380.33 9,381 3,567,875.73
1.73 AJG ARTHUR J GALLAGHER & CO 2359506 224.91 12,615 2,837,239.65
1.70 IBM IBM 2005973 140.80 19,840 2,793,472.00
1.69 WMT WALMART INC 2936921 160.10 17,348 2,777,414.80
1.69 CSCO CISCO SYSTEMS INC 2198163 54.00 51,270 2,768,580.00
1.67 ATVI ACTIVISION BLIZZARD INC 2575818 93.94 29,151 2,738,444.94
1.65 MMC MARSH & MCLENNAN COS 2567741 188.77 14,326 2,704,319.02
1.64 VMW VMWARE INC-CLASS A B23SN61 166.36 16,124 2,682,388.64
1.60 JNJ JOHNSON & JOHNSON 2475833 155.15 16,898 2,621,724.70
1.58 PNM PNM RESOURCES INC 2707826 43.65 59,165 2,582,552.25
1.57 ISRG INTUITIVE SURGICAL INC 2871301 294.98 8,737 2,577,240.26
1.57 BRK/B BERKSHIRE HATH-B 2073390 348.08 7,370 2,565,349.60
1.55 RSG REPUBLIC SERVICES INC 2262530 141.16 17,989 2,539,327.24
1.54 UBER UBER TECHNOLOGIES INC BK6N347 45.68 55,398 2,530,580.64
1.53 SYK STRYKER CORP 2853688 273.84 9,166 2,510,017.44
1.53 MRK MERCK & CO. INC. 2778844 102.55 24,377 2,499,861.35
1.52 BSX BOSTON SCIENTIFIC CORP 2113434 52.81 47,038 2,484,076.78
1.49 WM WASTE MANAGEMENT INC 2937667 151.21 16,123 2,437,958.83
1.44 MCD MCDONALD'S CORP 2550707 257.75 9,125 2,351,968.75
1.44 DOX AMDOCS LTD 2256908 84.00 27,997 2,351,748.00
1.43 FCN FTI CONSULTING INC 2351449 177.78 13,156 2,338,873.68
1.41 ETN EATON CORP PLC B8KQN82 210.24 10,986 2,309,696.64
1.41 BMY BRISTOL-MYERS SQUIBB CO 2126335 57.85 39,902 2,308,330.70
1.36 GILD GILEAD SCIENCES INC 2369174 74.10 30,062 2,227,594.20
1.36 LMT LOCKHEED MARTIN CORP 2522096 407.82 5,447 2,221,395.54
1.34 VZ VERIZON COMMUNIC 2090571 31.76 69,156 2,196,394.56
1.23 T AT&T INC 2831811 14.67 137,659 2,019,457.53
1.20 TGNA TEGNA INC BZ0P3Z5 14.45 135,871 1,963,335.95
1.12 EA ELECTRONIC ARTS INC 2310194 120.15 15,269 1,834,570.35
1.09 COR CENCORA INC 2795393 179.08 9,968 1,785,069.44
1.04 HCA HCA HEALTHCARE INC B4MGBG6 247.21 6,861 1,696,107.81
1.03 CME CME GROUP INC 2965839 200.15 8,402 1,681,660.30
1.00 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 898.62 1,832 1,646,271.84
0.98 FLO FLOWERS FOODS INC 2744243 21.88 73,137 1,600,237.56
0.97 PINC PREMIER INC-CLASS A BDZDRC5 21.20 74,756 1,584,827.20
0.97 PEP PEPSICO INC 2681511 169.17 9,363 1,583,938.71
0.95 KO COCA-COLA CO/THE 2206657 55.48 28,150 1,561,762.00
0.91 CDNS CADENCE DESIGN SYS INC 2302232 236.49 6,284 1,486,103.16
0.80 CMG CHIPOTLE MEXICAN B0X7DZ3 1,867.13 705 1,316,326.65
0.79 PCG P G & E CORP 2689560 15.22 84,512 1,286,272.64
0.76 PCAR PACCAR INC 2665861 84.76 14,780 1,252,752.80
0.73 PH PARKER HANNIFIN CORP 2671501 385.24 3,116 1,200,407.84
0.70 FHN FIRST HORIZON CORP 2341484 10.64 108,463 1,154,046.32
0.68 TT TRANE TECHNOLOGIES PLC BK9ZQ96 198.10 5,648 1,118,868.80
0.68 TDG TRANSDIGM GROUP INC B11FJK3 824.38 1,357 1,118,683.66
0.68 DLB DOLBY LABORATO-A B04NJM9 80.70 13,845 1,117,291.50
0.66 SMCI SUPER MICRO COMPUTER INC B1VQR35 288.86 3,716 1,073,403.76
0.64 CEG CONSTELLATION ENERGY BMH4FS1 104.73 10,052 1,052,745.96
0.64 CAH CARDINAL HEALTH INC 2175672 86.38 12,087 1,044,075.06
0.62 STLA STELLANTIS NV BM9RCN2 18.91 54,087 1,022,785.17
0.61 CPRT COPART INC 2208073 43.62 22,960 1,001,515.20
0.60 HSY HERSHEY CO/THE 2422806 199.01 4,963 987,686.63
0.58 ACGL ARCH CAPITAL GROUP LTD 2740542 79.37 11,924 946,407.88
0.57 AME AMETEK INC 2089212 147.42 6,303 929,188.26
0.55 ANET ARISTA NETWORKS INC BN33VM5 187.81 4,831 907,310.11
0.54 DHI DR HORTON INC 2250687 106.18 8,372 888,938.96
0.54 RCL ROYAL CARIBBEAN 2754907 91.70 9,590 879,403.00
0.53 GWW WW GRAINGER INC 2380863 694.62 1,257 873,137.34
0.53 CHE CHEMED CORP 2190084 516.00 1,670 861,720.00
0.49 ROK ROCKWELL AUTOMATION INC 2754060 283.95 2,805 796,479.75
0.45 JBL JABIL INC 2471789 128.87 5,720 737,136.40
0.43 LEN LENNAR CORP-A 2511920 111.15 6,399 711,248.85
0.42 FSLR FIRST SOLAR INC B1HMF22 156.34 4,408 689,146.72
0.42 QGEN QIAGEN N.V. BYXS688 40.03 17,100 684,513.00
0.42 IT GARTNER INC 2372763 346.00 1,977 684,042.00
0.41 IR INGERSOLL-RAND INC BL5GZ82 63.60 10,539 670,280.40
0.38 FICO FAIR ISAAC CORP 2330299 863.59 718 620,057.62
0.36 CVX CHEVRON CORP 2838555 166.54 3,523 586,720.42
0.35 HUBB HUBBELL INC BDFG6S3 309.26 1,866 577,079.16
0.35 AZO AUTOZONE INC 2065955 2,522.93 227 572,705.11
0.35 ZBH ZIMMER BIOMET HO 2783815 111.42 5,114 569,801.88
0.33 XYL XYLEM INC B3P2CN8 91.82 5,961 547,339.02
0.32 EME EMCOR GROUP INC 2474164 206.96 2,519 521,332.24
0.32 SNA SNAP-ON INC 2818740 251.76 2,064 519,632.64
0.31 NVR NVR INC 2637785 5,960.95 86 512,641.70
0.31 AXON AXON ENTERPRISE INC BDT5S35 196.15 2,602 510,382.30
0.31 LW LAMB WESTON HOLDINGS INC BDQZFJ3 92.23 5,434 501,177.82
0.30 PEN PENUMBRA INC BZ0V201 238.63 2,078 495,873.14
0.29 DRI DARDEN RESTAURANTS INC 2289874 142.41 3,387 482,342.67
0.29 BLDR BUILDERS FIRSTSOURCE INC B0BV2M7 123.00 3,905 480,315.00
0.28 YUM YUM! BRANDS INC 2098876 125.06 3,684 460,721.04
0.28 DECK DECKERS OUTDOOR CORP 2267278 517.55 889 460,101.95
0.28 PHM PULTEGROUP INC 2708841 73.22 6,222 455,574.84
0.27 AMGN AMGEN INC 2023607 266.31 1,659 441,808.29
0.26 VRT VERTIV HOLDINGS CO BL3LWS8 38.41 11,033 423,777.53
0.24 WFRD WEATHERFORD INTERNATIONAL BLNN369 90.54 4,311 390,317.94
0.24 LVS LAS VEGAS SANDS CORP B02T2J7 45.70 8,473 387,216.10
0.23 RS RELIANCE STEEL & ALUMINUM 2729068 260.00 1,462 380,120.00
0.23 ARES ARES MANAGEMENT CORP - A BF14BT1 102.44 3,698 378,823.12
0.22 ELF ELF BEAUTY INC BDDQ975 108.21 3,400 367,914.00
0.21 LECO LINCOLN ELECTRIC HOLDINGS 2516851 178.89 1,933 345,794.37
0.21 MANH MANHATTAN ASSOCIATES INC 2239471 198.86 1,708 339,652.88
0.20 DGX QUEST DIAGNOSTICS INC 2702791 120.91 2,752 332,744.32
0.19 WTM WHITE MOUNTAINS 2339252 1,509.45 209 315,475.05
0.19 GGG GRACO INC 2380443 72.91 4,314 314,533.74
0.19 NSIT INSIGHT ENTERPRISES INC 2475060 144.83 2,139 309,791.37
0.19 EXAS EXACT SCIENCES CORP 2719951 66.43 4,633 307,770.19
0.19 PGR PROGRESSIVE CORP 2705024 138.97 2,198 305,456.06
0.19 RMBS RAMBUS INC 2721967 56.17 5,416 304,216.72
0.18 CLH CLEAN HARBORS INC 2202473 163.83 1,795 294,074.85
0.17 NATI NATIONAL INSTRUMENTS CORP 2645078 59.69 4,602 274,693.38
0.17 APD AIR PRODS & CHEM 2011602 279.08 971 270,986.68
0.16 MCK MCKESSON CORP 2378534 437.42 589 257,640.38
0.15 ACLS AXCELIS TECHNOLOGIES INC BD420Q8 162.63 1,538 250,124.94
0.15 WYNN WYNN RESORTS LTD 2963811 92.63 2,580 238,985.40
0.14 PRI PRIMERICA INC B50K3X8 191.11 1,234 235,829.74
0.14 ABBV ABBVIE INC B92SR70 148.25 1,491 221,040.75
0.13 NVT NVENT ELECTRIC PLC BDVJJQ5 52.02 4,220 219,524.40
0.13 NTNX NUTANIX INC - A BYQBFT8 34.76 6,307 219,231.32
0.13 TKO TKO GROUP HOLDINGS INC BQBBFD1 85.00 2,513 213,605.00
0.13 CACI CACI INTL-A 2159267 313.49 681 213,486.69
0.13 CASH 1.00 211,141 211,140.73
0.13 KNSL KINSALE CAPITAL GROUP INC BD1MGQ3 409.38 512 209,602.56
0.13 AON AON PLC-CLASS A BLP1HW5 321.36 649 208,562.64
0.13 TMUS T-MOBILE US INC B94Q9V0 139.26 1,497 208,472.22
0.13 CHD CHURCH & DWIGHT CO INC 2195841 91.65 2,243 205,570.95
0.12 FIX COMFORT SYSTEMS USA INC 2036047 166.17 1,208 200,733.36
0.12 SPSC SPS COMMERCE INC B57VWJ3 168.80 1,180 199,184.00
0.12 TOL TOLL BROTHERS INC 2896092 72.99 2,723 198,751.77
0.11 BWA BORGWARNER INC 2111955 39.86 4,631 184,591.66
0.11 CELH CELSIUS HOLDINGS INC B19HX21 174.00 1,033 179,742.00
0.11 ROP ROPER TECHNOLOGIES INC 2749602 483.88 362 175,164.56
0.11 CBOE CBOE GLOBAL MARKETS INC B5834C5 156.80 1,110 174,048.00
0.10 TW TRADEWEB MARKE-A BJXMVK2 80.00 2,134 170,720.00
0.10 ICE INTERCONTINENTAL BFSSDS9 109.22 1,551 169,400.22
0.10 AFL AFLAC INC 2026361 76.47 2,184 167,010.48
0.10 CASY CASEY'S GENERAL 2179414 271.80 609 165,526.20
0.10 GD GENERAL DYNAMICS CORP 2365161 222.93 725 161,624.25
0.10 FDS FACTSET RESEARCH 2329770 436.07 370 161,345.90
0.10 AIT APPLIED INDU TEC 2086309 154.58 1,022 157,980.76
0.10 NOC NORTHROP GRUMMAN CORP 2648806 442.22 356 157,430.32
0.10 DG DOLLAR GENERAL CORP B5B1S13 103.78 1,502 155,877.56
0.09 HRL HORMEL FOODS CORP 2437264 37.54 4,091 153,576.14
0.09 AKAM AKAMAI TECHNOLOGIES INC 2507457 106.83 1,428 152,553.24
0.09 KR KROGER CO 2497406 44.03 3,439 151,419.17
0.09 TRV TRAVELERS COS INC/THE 2769503 162.27 926 150,262.02
0.09 XOM EXXON MOBIL CORP 2326618 115.63 1,289 149,047.07
0.09 SCCO SOUTHERN COPPER CORP 2823777 73.95 2,015 149,009.25
0.09 PG PROCTER & GAMBLE CO/THE 2704407 145.19 1,018 147,803.42
0.09 TXRH TEXAS ROADHOUSE INC B033TJ7 96.47 1,469 141,714.43
0.09 SAIC SCIENCE APPLICATIONS INTE BDTZZG7 106.92 1,316 140,706.72
0.09 APG API GROUP CORP BMBPH06 25.43 5,497 139,788.71
0.08 ULTA ULTA BEAUTY INC B28TS42 402.95 341 137,405.95
0.08 TMHC TAYLOR MORRISON HOME CORP B832462 42.41 3,207 136,008.87
0.08 COST COSTCO WHOLESALE CORP 2701271 571.31 235 134,257.85
0.08 RIG TRANSOCEAN LTD B3KFWW1 7.88 16,869 132,927.72
0.08 WING WINGSTOP INC BYYXHN4 184.31 719 132,518.89
0.08 WRB WR BERKLEY CORP 2093644 62.92 2,092 131,628.64
0.08 DKS DICK'S SPORTING GOODS INC 2969637 106.30 1,233 131,067.90
0.08 SON SONOCO PRODUCTS CO 2821395 53.80 2,433 130,895.40
0.08 LDOS LEIDOS HOLDINGS INC BDV82B8 93.20 1,400 130,480.00
0.08 SO SOUTHERN CO/THE 2829601 62.71 2,057 128,994.47
0.08 BDX BECTON DICKINSON AND CO 2087807 257.76 498 128,364.48
0.08 ADP AUTOMATIC DATA PROCESSING 2065308 239.37 536 128,302.32
0.08 ORI OLD REPUBLIC INTL CORP 2659109 26.36 4,859 128,083.24
0.08 MDLZ MONDELEZ INTER-A B8CKK03 68.49 1,846 126,432.54
0.08 ED CONSOLIDATED EDISON INC 2216850 81.62 1,542 125,858.04
0.07 CROX CROCS INC B0T7Z62 87.88 1,383 121,538.04
0.07 MMS MAXIMUS INC 2018669 74.27 1,636 121,505.72
0.07 HON HONEYWELL INTL 2020459 182.61 663 121,070.43
0.07 IRDM IRIDIUM COMMUNIC B2QH310 44.40 2,719 120,723.60
0.07 HII HUNTINGTON INGAL B40SSC9 202.01 593 119,791.93
0.07 ATI ATI Inc 2526117 40.88 2,926 119,614.88
0.07 ALSN ALLISON TRANSMIS B4PZ892 58.28 2,052 119,590.56
0.07 ELS EQUITY LIFESTYLE 2563125 62.36 1,891 117,922.76
0.07 DUK DUKE ENERGY CORP B7VD3F2 85.44 1,379 117,821.76
0.07 AAON AAON INC 2268130 57.03 2,020 115,172.09
0.07 FR FIRST IND REALTY 2360757 46.77 2,398 112,154.46
0.07 MMSI MERIT MEDICAL SYSTEMS INC 2580555 67.23 1,668 112,139.64
0.07 ATKR Atkore Inc BDHF495 145.00 737 106,865.00
0.07 TKR TIMKEN CO 2892807 72.77 1,463 106,462.51
0.06 AEE AMEREN CORPORATION 2050832 71.13 1,486 105,699.18
0.06 ROL ROLLINS INC 2747305 36.62 2,836 103,854.32
0.06 ADC AGREE REALTY CORP 2062161 53.86 1,907 102,711.02
0.06 SJM JM SMUCKER CO/THE 2951452 121.46 841 102,147.86
0.06 NNN NNN REIT INC 2211811 34.89 2,896 101,041.44
0.06 WTS WATTS WATER TE-A 2943620 171.46 584 100,132.64
0.06 MTH MERITAGE HOMES CORP 2601326 120.63 784 94,573.92
0.06 RTX RTX CORPORATION BM5M5Y3 71.34 1,313 93,669.42
0.06 COTY COTY INC-CL A BBBSMJ2 10.74 8,341 89,582.34
0.04 LANC LANCASTER COLONY CORP 2503206 162.67 442 71,900.14
0.02 HE HAWAIIAN ELECTRIC INDS 2415204 11.95 3,271 39,088.45
0.02 OTHER PAYABLE & RECEIVABLES 1.00 37,875 37,874.86
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 09/30/23

Sector Weight (%)
Industrials 21.4
Health Care 20.3
Information Technology 19.9
Communication Services 9.1
Financials 9.1
Consumer Discretionary 8.5
Consumer Staples 6.7
Utilities 3.4
Energy 0.8
Materials 0.7
Real Estate 0.3

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Pharmaceuticals: Major 8.7
Information Technology Services 7.0
Medical Specialties 6.3
Packaged Software 6.2
Semiconductors 5.6
Industrial Machinery 5.1
Insurance Brokers/Services 3.8
Environmental Services 3.5
Restaurants 3.1
Electrical Products 3.1
Recreational Products 3.0
Other/Cash 44.6

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 10/02/23

Return on Equity 21.10%
Weighted Avg. Market Cap 148,793 M
2022 2023
Price-to-earnings 19.95 17.87
Price-to-book value 4.14 3.46

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 09/30/23

Versus Beta
S&P 500 0.74
NASDAQ-100 0.43
MSCI EAFE 0.68
MSCI Emg. Mkts 0.42
Standard Deviation 15.60%

Source: new windowAltaVista Research, LLC

ETF Documents

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

As of 08/31, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 379 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 4 and 5 stars respectfully. 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.