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AUSF

Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 384 Mid-Cap Value funds, based on risk-adjusted returns as of 02/28/2025

 

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 03/14/25

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $444.22 million
NAV $42.55
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 03/13/25

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 10,440,002
Number of Holdings 193
30-Day Median Bid-Ask Spread 0.23%

Distributions As of 03/14/25

30-Day SEC Yield 2.56%
Distribution Frequency Quarterly

ETF Prices As of 03/14/25

NAV $42.55 Daily Change $0.56 1.33%
Market Price $42.60 Daily Change $0.60 1.43%

Performance History

As of recent
(12/31/24)
As of recent
(12/31/24)
Fund NAV Market Price Index
1 Year 16.15% 16.06% 16.54%
3 Years 12.33% 12.29% 12.70%
5 Years 12.83% 12.81% 13.19%
Since Inception 11.76% 11.74% 12.12%
1 Year 15.53% 15.25% 15.90%
3 Years 15.86% 15.83% 16.24%
5 Years 16.59% 16.54% 16.98%
Since Inception 12.30% 12.27% 12.67%
Year-to-Date 16.15% 16.06% 16.54%
1 Month -6.24% -6.25% -6.25%
3 Months -0.50% -0.67% -0.45%
Since Inception 102.75% 102.59% 106.98%
Year-to-Date 5.07% 4.97% 5.14%
1 Month 1.21% 0.91% 1.25%
3 Months -1.49% -1.59% -1.43%
Since Inception 113.02% 112.67% 117.62%

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 03/14/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.34 T AT&T INC 2831811 26.58 391,237 10,399,079.46
2.03 VZ VERIZON COMMUNIC 2090571 43.57 207,356 9,034,500.92
1.82 TMUS T-MOBILE US INC B94Q9V0 255.98 31,497 8,062,602.06
1.72 BRK/B BERKSHIRE HATH-B 2073390 514.60 14,815 7,623,799.00
1.71 CME CME GROUP INC 2965839 258.68 29,435 7,614,245.80
1.70 RSG REPUBLIC SERVICES INC 2262530 232.01 32,620 7,568,166.20
1.63 ICE INTERCONTINENTAL BFSSDS9 170.58 42,410 7,234,297.80
1.62 RTX RTX CORPORATION BM5M5Y3 129.99 55,253 7,182,337.47
1.62 COR CENCORA INC 2795393 258.07 27,801 7,174,604.07
1.59 V VISA INC-CLASS A SHARES B2PZN04 331.80 21,236 7,046,104.80
1.56 K KELLANOVA 2486813 82.23 84,182 6,922,285.86
1.56 MMC MARSH & MCLENNAN COS 2567741 231.53 29,881 6,918,347.93
1.53 CSCO CISCO SYSTEMS INC 2198163 60.50 112,543 6,808,851.50
1.50 BSX BOSTON SCIENTIFIC CORP 2113434 97.16 68,514 6,656,820.24
1.50 EDR ENDEAVOR GROUP-A BJQ05Y5 28.76 231,126 6,647,183.76
1.49 JNJ JOHNSON & JOHNSON 2475833 162.81 40,755 6,635,321.55
1.49 WM WASTE MANAGEMENT INC 2937667 224.86 29,421 6,615,606.06
1.49 ACI ALBERTSONS COS-A BYNQ369 21.08 313,774 6,614,355.92
1.47 ADP AUTOMATIC DATA PROCESSING 2065308 291.76 22,381 6,529,880.56
1.44 LMT LOCKHEED MARTIN CORP 2522096 466.17 13,760 6,414,499.20
1.43 LIN LINDE PLC BNZHB81 455.50 13,948 6,353,314.00
1.43 JNPR JUNIPER NETWORKS INC 2431846 35.76 177,164 6,335,384.64
1.42 WMT WALMART INC 2936921 85.35 73,636 6,284,832.60
1.40 DOX AMDOCS LTD 2256908 87.99 70,498 6,203,119.02
1.31 GD GENERAL DYNAMICS CORP 2365161 262.03 22,197 5,816,279.91
1.25 EA ELECTRONIC ARTS INC 2310194 138.71 39,987 5,546,596.77
1.19 KO COCA-COLA CO/THE 2206657 69.16 76,546 5,293,921.36
1.02 MRK MERCK & CO. INC. 2778844 93.76 48,198 4,519,044.48
1.01 CBOE CBOE GLOBAL MARKETS INC B5834C5 213.95 21,001 4,493,163.95
0.98 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 417.96 10,361 4,330,483.56
0.76 MCD MCDONALD'S CORP 2550707 299.83 11,306 3,389,877.98
0.69 MO ALTRIA GROUP INC 2692632 58.91 51,848 3,054,365.68
0.64 UNM UNUM GROUP 2433842 78.83 36,175 2,851,675.25
0.64 CVS CVS HEALTH CORP 2577609 65.68 43,210 2,838,032.80
0.60 WPC WP CAREY INC B826YT8 62.66 42,380 2,655,530.80
0.57 NXST Nexstar Media Group Inc 2949758 169.88 14,799 2,514,054.12
0.56 VICI VICI PROPERTIES INC BYWH073 32.25 77,756 2,507,631.00
0.56 KMI KINDER MORGAN INC B3NQ4P8 27.10 92,277 2,500,706.70
0.56 LNC LINCOLN NATIONAL CORP 2516378 36.09 69,259 2,499,557.31
0.56 DTM DT MIDSTREAM INC BN7L880 94.97 26,317 2,499,325.49
0.56 RPRX ROYALTY PHARMA PLC- CL A BMVP7Y0 32.77 76,124 2,494,583.48
0.56 TAP MOLSON COORS-B B067BM3 59.62 41,723 2,487,525.26
0.56 FOXA FOX CORP - CLASS A BJJMGL2 52.28 47,572 2,487,064.16
0.56 UGI UGI CORP 2910118 32.75 75,751 2,480,466.50
0.56 TSN TYSON FOODS INC-CL A 2909730 59.88 41,177 2,465,678.76
0.55 CTRE CARETRUST REIT INC BMP8TL6 28.42 86,496 2,458,216.32
0.55 X UNITED STATES STEEL CORP 2824770 39.00 62,782 2,448,498.00
0.55 MDT MEDTRONIC PLC BTN1Y11 93.07 26,066 2,425,962.62
0.54 AGNC AGNC INVESTMENT CORP BYYHJL8 10.24 235,809 2,414,684.16
0.54 LBRDK LIBERTY BROADBAND-C BRTLC06 81.38 29,605 2,409,254.90
0.54 STWD STARWOOD PROPERT B3PQ520 19.93 120,443 2,400,428.99
0.54 WU WESTERN UNION CO B1F76F9 10.45 228,173 2,383,266.99
0.54 KHC KRAFT HEINZ CO/THE BYRY499 30.23 78,771 2,381,247.33
0.53 RITM RITHM CAPITAL CORP BRJ9GW0 11.65 203,350 2,369,027.50
0.53 AM ANTERO MIDSTREAM CORP BJBT0Q4 17.01 139,015 2,364,645.15
0.52 CAG CONAGRA BRANDS INC 2215460 25.65 90,466 2,320,452.90
0.52 LEA LEAR CORP B570P91 94.71 24,254 2,297,096.34
0.51 EMN EASTMAN CHEMICAL CO 2298386 91.08 24,842 2,262,609.36
0.51 BEN FRANKLIN RESOURCES INC 2350684 19.52 115,224 2,249,172.48
0.51 EG EVEREST GROUP LTD 2556868 356.66 6,294 2,244,818.04
0.51 HII HUNTINGTON INGAL B40SSC9 196.16 11,429 2,241,912.64
0.50 AL AIR LEASE CORP B3XS562 46.02 48,667 2,239,655.34
0.50 BIIB BIOGEN INC 2455965 139.44 16,034 2,235,780.96
0.50 F FORD MOTOR CO 2615468 9.73 228,265 2,221,018.45
0.50 OGN ORGANON & CO BLDC8J4 15.31 144,259 2,208,605.29
0.50 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 74.15 29,698 2,202,106.70
0.49 NOV NOV INC BN2RYW9 14.30 153,354 2,192,962.20
0.49 CMCSA COMCAST CORP-CLASS A 2044545 35.43 61,694 2,185,818.42
0.49 BR BROADRIDGE FINL B1VP7R6 227.65 9,568 2,178,155.20
0.49 ESNT ESSENT GROUP LTD BFWGXR8 54.72 39,796 2,177,637.12
0.49 RDN RADIAN GROUP INC 2173911 31.50 68,920 2,170,980.00
0.49 BG BUNGE GLOBAL SA BQ6BPG9 73.88 29,384 2,170,889.92
0.49 SON SONOCO PRODUCTS CO 2821395 45.63 47,233 2,155,241.79
0.48 MTG MGIC INVESTMENT CORP 2548616 23.10 93,070 2,149,917.00
0.48 IPG INTERPUBLIC GRP 2466321 26.43 81,162 2,145,111.66
0.48 RNR RENAISSANCERE 2728429 239.65 8,943 2,143,189.95
0.48 BKR BAKER HUGHES CO BDHLTQ5 42.84 49,980 2,141,143.20
0.48 ADM ARCHER-DANIELS-MIDLAND CO 2047317 47.18 45,312 2,137,820.16
0.48 AFG AMER FINL GROUP 2134532 125.26 17,056 2,136,434.56
0.48 MOS MOSAIC CO/THE B3NPHP6 25.90 82,350 2,132,865.00
0.48 PRU PRUDENTIAL FINANCIAL INC 2819118 108.49 19,514 2,117,073.86
0.47 CMA COMERICA INC 2212870 57.69 36,523 2,107,011.87
0.47 GM GENERAL MOTORS CO B665KZ5 48.34 43,398 2,097,859.32
0.47 CNC CENTENE CORP 2807061 58.19 36,042 2,097,283.98
0.47 THC TENET HEALTHCARE CORP B8DMK08 122.67 17,028 2,088,824.76
0.47 DOW DOW INC BHXCF84 36.97 56,089 2,073,610.33
0.47 BWA BORGWARNER INC 2111955 28.70 72,017 2,066,887.90
0.47 UBSI UNITED BANKSHARES INC 2905794 34.56 59,758 2,065,236.48
0.47 PB PROSPERITY BANCSHARES INC 2310257 71.06 29,060 2,065,003.60
0.46 SNX TD SYNNEX CORP 2002554 127.19 16,186 2,058,697.34
0.46 M MACY'S INC 2345022 13.08 156,813 2,051,114.04
0.46 KBH KB HOME 2485070 60.64 33,737 2,045,811.68
0.45 RF REGIONS FINANCIAL CORP B01R311 21.43 94,139 2,017,398.77
0.45 ARW ARROW ELECTRONICS INC 2051404 104.72 19,208 2,011,461.76
0.45 AVT AVNET INC 2066505 47.79 42,073 2,010,668.67
0.45 HBAN HUNTINGTON BANCSHARES INC 2445966 14.75 135,795 2,002,976.25
0.45 VNOM VIPER ENERGY INC BR1YSF0 43.30 46,063 1,994,527.90
0.45 CHRD CHORD ENERGY CORP BLDDYB1 106.21 18,749 1,991,331.29
0.45 HOG HARLEY-DAVIDSON INC 2411053 24.56 81,016 1,989,752.96
0.45 KRC KILROY REALTY CORP 2495529 33.18 59,835 1,985,325.30
0.45 OZK BANK OZK BZ56Q65 44.19 44,917 1,984,882.23
0.45 FNB FNB CORP 2041308 13.46 147,232 1,981,742.72
0.45 CFG CITIZENS FINANCIAL GROUP BQRX1X3 40.70 48,686 1,981,520.20
0.45 ELAN ELANCO ANIMAL HEALTH INC BF5L3T2 10.44 189,204 1,975,289.76
0.45 TFC TRUIST FINANCIAL CORP BKP7287 40.55 48,707 1,975,068.85
0.44 COLB COLUMBIA BANKING 2176608 24.77 79,574 1,971,047.98
0.44 HPQ HP INC BYX4D52 28.41 69,101 1,963,159.41
0.44 LAD LITHIA MOTORS INC 2515030 295.51 6,623 1,957,162.73
0.44 MTH MERITAGE HOMES CORP 2601326 69.99 27,901 1,952,790.99
0.44 BBY BEST BUY CO INC 2094670 71.49 27,282 1,950,390.18
0.44 OMF ONEMAIN HOLDINGS INC BYSZB89 48.63 40,090 1,949,576.70
0.44 WBS WEBSTER FINANCIAL CORP 2945143 50.36 38,602 1,943,996.72
0.44 FANG DIAMONDBACK ENERGY INC B7Y8YR3 150.20 12,887 1,935,627.40
0.44 SLG SL GREEN REALTY CORP BPGKM57 56.75 34,079 1,933,983.25
0.43 C CITIGROUP INC 2297907 68.78 28,029 1,927,834.62
0.43 UMBF UMB FINANCIAL CORP 2918510 101.42 18,989 1,925,864.38
0.43 ZION ZIONS BANCORP NA 2989828 48.63 39,414 1,916,702.82
0.43 CADE CADENCE BANK BMCS168 29.85 63,753 1,903,027.05
0.42 GAP GAP INC/THE 2360326 20.13 92,913 1,870,338.69
0.42 VTRS VIATRIS INC BMWS3X9 9.10 205,492 1,869,977.20
0.42 SIG SIGNET JEWELERS LTD B3CTNK6 47.95 38,561 1,848,999.95
0.40 CE CELANESE CORP B05MZT4 57.05 31,327 1,787,205.35
0.40 FMC FMC CORP 2328603 41.69 42,037 1,752,522.53
0.39 SWKS SKYWORKS SOLUTIONS INC 2961053 69.40 24,881 1,726,741.40
0.37 NE NOBLE CORP PLC BN2QTL0 23.78 69,029 1,641,509.62
0.36 WHR WHIRLPOOL CORP 2960384 90.98 17,335 1,577,138.30
0.34 PVH PVH CORP B3V9F12 63.81 23,794 1,518,295.14
0.33 ACHC ACADIA HEALTHCARE CO INC B65VZ37 28.54 51,716 1,475,974.64
0.33 CIVI CIVITAS RESOURCES INC BMG9GG2 33.62 43,873 1,475,010.26
0.33 HPE HEWLETT PACKA BYVYWS0 15.62 93,742 1,464,250.04
0.32 YUM YUM! BRANDS INC 2098876 155.05 9,239 1,432,506.95
0.25 OTHER PAYABLE & RECEIVABLES 1.00 1,113,268 1,113,268.30
0.21 PGR PROGRESSIVE CORP 2705024 283.69 3,331 944,971.39
0.19 PG PROCTER & GAMBLE CO/THE 2704407 167.97 4,928 827,756.16
0.19 ABBV ABBVIE INC B92SR70 211.77 3,871 819,761.67
0.15 TW TRADEWEB MARKE-A BJXMVK2 135.80 4,945 671,531.00
0.14 KR KROGER CO 2497406 65.10 9,551 621,770.10
0.14 COST COSTCO WHOLESALE CORP 2701271 903.92 682 616,473.44
0.14 SNA SNAP-ON INC 2818740 331.84 1,841 610,917.44
0.12 GRMN GARMIN LTD B3Z5T14 213.90 2,455 525,124.50
0.11 SO SOUTHERN CO/THE 2829601 90.38 5,424 490,221.12
0.11 MCK MCKESSON CORP 2378534 650.43 738 480,017.34
0.11 WMB WILLIAMS COS INC 2967181 57.27 8,377 479,750.79
0.11 AFL AFLAC INC 2026361 107.25 4,460 478,335.00
0.11 DUK DUKE ENERGY CORP B7VD3F2 120.12 3,979 477,957.48
0.10 WRB WR BERKLEY CORP 2093644 63.23 7,260 459,049.80
0.10 VRSN VERISIGN INC 2142922 238.35 1,898 452,388.30
0.10 ORI OLD REPUBLIC INTL CORP 2659109 37.38 11,905 445,008.90
0.10 MA MASTERCARD INC - A B121557 527.64 818 431,609.52
0.10 ED CONSOLIDATED EDISON INC 2216850 106.41 4,010 426,704.10
0.09 AAPL APPLE INC 2046251 213.49 1,946 415,451.54
0.09 NOC NORTHROP GRUMMAN CORP 2648806 484.93 849 411,705.57
0.09 ECL ECOLAB INC 2304227 250.96 1,616 405,551.36
0.09 CAH CARDINAL HEALTH INC 2175672 128.00 3,144 402,432.00
0.09 CHE CHEMED CORP 2190084 598.22 671 401,405.62
0.09 WTW WILLIS TOWERS WATSON PLC BDB6Q21 324.61 1,220 396,024.20
0.09 ROP ROPER TECHNOLOGIES INC 2749602 569.29 688 391,671.52
0.09 AMGN AMGEN INC 2023607 313.71 1,246 390,882.66
0.09 VRSK VERISK ANALYTICS INC B4P9W92 288.58 1,341 386,985.78
0.09 GDDY GODADDY INC - CLASS A BWFRFC6 176.15 2,189 385,592.35
0.09 PNW PINNACLE WEST CAPITAL 2048804 93.71 4,107 384,866.97
0.09 FI FISERV INC 2342034 214.61 1,784 382,864.24
0.09 INGR INGREDION INC B7K24P7 131.29 2,907 381,660.03
0.09 IBM IBM 2005973 248.35 1,530 379,975.50
0.09 DGX QUEST DIAGNOSTICS INC 2702791 170.16 2,209 375,883.44
0.08 WEC WEC ENERGY GROUP INC BYY8XK8 106.75 3,504 374,052.00
0.08 WELL WELLTOWER INC BYVYHH4 147.84 2,505 370,339.20
0.08 AEP AMERICAN ELECTRIC POWER 2026242 105.56 3,508 370,304.48
0.08 AJG ARTHUR J GALLAGHER & CO 2359506 325.24 1,133 368,496.92
0.08 XOM EXXON MOBIL CORP 2326618 111.90 3,267 365,577.30
0.08 CI THE CIGNA GROUP BHJ0775 312.90 1,168 365,467.20
0.08 CVX CHEVRON CORP 2838555 157.02 2,318 363,972.36
0.08 AON AON PLC-CLASS A BLP1HW5 398.79 911 363,297.69
0.08 HIG HARTFORD INSURANCE GROUP 2476193 118.89 3,047 362,257.83
0.08 PKG PACKAGING CORP OF AMERICA 2504566 196.80 1,840 362,112.00
0.08 CL COLGATE-PALMOLIVE CO 2209106 89.82 4,023 361,345.86
0.08 TRV TRAVELERS COS INC/THE 2769503 260.91 1,382 360,577.62
0.08 CB CHUBB LTD B3BQMF6 293.96 1,222 359,219.12
0.08 CMS CMS ENERGY CORP 2219224 72.77 4,926 358,465.02
0.08 ATO ATMOS ENERGY CORP 2315359 149.89 2,336 350,143.04
0.08 PPL PPL CORP 2680905 34.89 10,022 349,667.58
0.08 EVRG EVERGY INC BFMXGR0 67.45 5,168 348,581.60
0.08 AME AMETEK INC 2089212 176.14 1,979 348,581.06
0.08 L LOEWS CORP 2523022 86.42 4,031 348,359.02
0.08 ATR APTARGROUP INC 2045247 146.66 2,357 345,677.62
0.08 NI NISOURCE INC 2645409 39.48 8,717 344,147.16
0.08 ETR ENTERGY CORP 2317087 84.99 3,965 336,985.35
0.08 TJX TJX COMPANIES INC 2989301 113.26 2,974 336,835.24
0.08 CHD CHURCH & DWIGHT CO INC 2195841 109.10 3,054 333,191.40
0.08 FE FIRSTENERGY CORP 2100920 39.83 8,317 331,266.11
0.07 HON HONEYWELL INTL 2020459 209.47 1,480 310,015.60
0.07 BDX BECTON DICKINSON AND CO 2087807 225.98 1,369 309,366.62
0.06 HOLX HOLOGIC INC 2433530 60.71 4,556 276,594.76
0.06 LDOS LEIDOS HOLDINGS INC BDV82B8 134.55 2,015 271,118.25
-0.04 CASH 1.00 -194,416 -194,416.42
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 02/28/25

Sector Weight (%)
Financials 24.9
Communication Services 11.6
Health Care 11.2
Industrials 10.8
Consumer Staples 10.2
Information Technology 9.0
Consumer Discretionary 7.8
Materials 5.3
Energy 5.0
Real Estate 2.7
Utilities 1.7

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Financial Services 12.1
Banks 7.2
Food, Beverage & Tobacco 6.5
Technology Hardware & Equipment 6.4
Telecommunication Services 6.2
Insurance 5.8
Health Care Equipment & Services 5.8
Capital Goods 5.6
Media & Entertainment 5.5
Materials 5.4
Commercial & Professional Services 5.4
Other 28.1

Source: new windowAltaVista Research, LLC

All Sector, Industry and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.

ETF Characteristics As of 03/14/25

Return on Equity 14.20%
Weighted Avg. Market Cap 122,691 M
2024 2025
Price-to-earnings 12.74 12.33
Price-to-book value 1.83 1.68

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 02/28/25

Versus Beta
S&P 500 0.79
NASDAQ-100 0.48
MSCI EAFE 0.69
MSCI Emg. Mkts 0.40
Standard Deviation 15.80%

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 2/28, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 384 during the last 3 years, 365 during the last 5 years. With respect to these Mid-Cap Value funds, AUSF received a Morningstar Rating of 5 stars for both periods. Past performance is not indicative of future results.

© 2025 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.