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AUSF

Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 380 Mid-Cap Value funds, based on risk-adjusted returns as of 03/31/2024

 

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 04/23/24

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $241.26 million
NAV $39.62
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 04/23/24

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 6,090,002
Number of Holdings 192
30-Day Median Bid-Ask Spread 0.23%

Distributions As of 04/23/24

30-Day SEC Yield 2.67%
Distribution Frequency Quarterly

ETF Prices As of 04/23/24

NAV $39.62 Daily Change $0.22 0.56%
Market Price $39.66 Daily Change $0.21 0.53%

Performance History

As of recent month & quarter-end (03/31/24)
As of recent month & quarter-end (03/31/24)
Fund NAV Market Price Index
1 Year 37.68% 37.74% 38.28%
3 Years 15.43% 15.28% 15.80%
5 Years 14.31% 14.27% 14.68%
Since Inception 12.45% 12.42% 12.82%
1 Year 37.68% 37.74% 38.28%
3 Years 15.43% 15.28% 15.80%
5 Years 14.31% 14.27% 14.68%
Since Inception 12.45% 12.42% 12.82%
Year-to-Date 10.58% 10.44% 10.71%
1 Month 4.68% 4.47% 4.72%
3 Months 10.58% 10.44% 10.71%
Since Inception 93.02% 92.79% 96.63%
Year-to-Date 10.58% 10.44% 10.71%
1 Month 4.68% 4.47% 4.72%
3 Months 10.58% 10.44% 10.71%
Since Inception 93.02% 92.79% 96.63%

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 04/23/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.05 IBM IBM 2005973 182.19 27,358 4,984,354.02
1.94 T AT&T INC 2831811 16.50 285,354 4,708,341.00
1.89 VZ VERIZON COMMUNIC 2090571 39.70 115,314 4,577,965.80
1.67 WM WASTE MANAGEMENT INC 2937667 208.78 19,431 4,056,804.18
1.66 RSG REPUBLIC SERVICES INC 2262530 190.61 21,097 4,021,299.17
1.61 WMT WALMART INC 2936921 59.09 66,263 3,915,480.67
1.60 COR CENCORA INC 2795393 237.69 16,324 3,880,051.56
1.59 BRK/B BERKSHIRE HATH-B 2073390 408.74 9,428 3,853,600.72
1.56 MRK MERCK & CO. INC. 2778844 126.88 29,930 3,797,518.40
1.48 TMUS T-MOBILE US INC B94Q9V0 163.25 22,072 3,603,254.00
1.48 PNM PNM RESOURCES INC 2707826 36.29 98,731 3,582,947.99
1.46 MMC MARSH & MCLENNAN COS 2567741 201.71 17,557 3,541,422.47
1.45 ROP ROPER TECHNOLOGIES INC 2749602 539.62 6,508 3,511,846.96
1.45 LMT LOCKHEED MARTIN CORP 2522096 460.08 7,631 3,510,870.48
1.42 CME CME GROUP INC 2965839 216.77 15,903 3,447,293.31
1.40 AJG ARTHUR J GALLAGHER & CO 2359506 237.87 14,248 3,389,171.76
1.38 JNJ JOHNSON & JOHNSON 2475833 149.56 22,363 3,344,610.28
1.37 ACI ALBERTSONS COS-A BYNQ369 20.32 163,784 3,328,090.88
1.37 DOX AMDOCS LTD 2256908 86.57 38,373 3,321,950.61
1.36 MCD MCDONALD'S CORP 2550707 276.88 11,901 3,295,148.88
1.28 CSCO CISCO SYSTEMS INC 2198163 48.32 64,285 3,106,251.20
1.22 VRSN VERISIGN INC 2142922 185.12 16,005 2,962,845.60
1.20 BMY BRISTOL-MYERS SQUIBB CO 2126335 48.99 59,480 2,913,925.20
1.17 EA ELECTRONIC ARTS INC 2310194 127.14 22,396 2,847,427.44
1.09 V VISA INC-CLASS A SHARES B2PZN04 274.11 9,673 2,651,466.03
1.05 KO COCA-COLA CO/THE 2206657 60.64 42,018 2,547,971.52
1.03 NSIT INSIGHT ENTERPRISES INC 2475060 186.27 13,479 2,510,733.33
0.97 PEP PEPSICO INC 2681511 171.22 13,815 2,365,404.30
0.88 PG PROCTER & GAMBLE CO/THE 2704407 161.50 13,251 2,140,036.50
0.87 CBOE CBOE GLOBAL MARKETS INC B5834C5 178.82 11,857 2,120,268.74
0.79 BR BROADRIDGE FINL B1VP7R6 195.91 9,809 1,921,681.19
0.65 DLB DOLBY LABORATO-A B04NJM9 79.16 19,986 1,582,091.76
0.65 RTX RTX CORPORATION BM5M5Y3 101.38 15,549 1,576,357.62
0.64 UAL UNITED AIRLINES B4QG225 54.03 28,938 1,563,520.14
0.64 GRMN GARMIN LTD B3Z5T14 142.51 10,870 1,549,083.70
0.63 GM GENERAL MOTORS CO B665KZ5 45.10 34,084 1,537,188.40
0.62 CHE CHEMED CORP 2190084 616.51 2,434 1,500,585.34
0.60 AL AIR LEASE CORP B3XS562 51.01 28,677 1,462,813.77
0.60 MO ALTRIA GROUP INC 2692632 42.87 34,017 1,458,308.79
0.60 BG BUNGE GLOBAL SA BQ6BPG9 109.62 13,253 1,452,793.86
0.59 AAP ADVANCE AUTO PARTS INC 2822019 78.00 18,335 1,430,130.00
0.59 HP HELMERICH & PAYNE 2420101 42.32 33,549 1,419,793.68
0.58 VAC MARRIOTT VACATIONS WORLD B45K9N8 101.77 13,891 1,413,687.07
0.58 ADM ARCHER-DANIELS-MIDLAND CO 2047317 61.79 22,832 1,410,789.28
0.58 HOG HARLEY-DAVIDSON INC 2411053 39.74 35,494 1,410,531.56
0.58 CHRD CHORD ENERGY CORP BLDDYB1 183.12 7,690 1,408,192.80
0.57 C CITIGROUP INC 2297907 62.67 22,188 1,390,521.96
0.57 F FORD MOTOR CO 2615468 12.94 107,183 1,386,948.02
0.57 DTM DT MIDSTREAM INC BN7L880 63.08 21,848 1,378,171.84
0.57 OKE ONEOK INC 2130109 80.35 17,145 1,377,600.75
0.56 CHK CHESAPEAKE ENERGY CORP BMZ5LZ5 88.53 15,433 1,366,283.49
0.56 EMN EASTMAN CHEMICAL CO 2298386 96.80 14,088 1,363,718.40
0.56 DD DUPONT DE NEMOURS INC BK0VN47 73.80 18,389 1,357,108.20
0.56 AIRC APARTMENT INCOME REIT CO BN6QGL5 38.40 35,307 1,355,788.80
0.56 AM ANTERO MIDSTREAM CORP BJBT0Q4 13.94 97,228 1,355,358.32
0.55 WMB WILLIAMS COS INC 2967181 38.78 34,697 1,345,549.66
0.55 SYF SYNCHRONY FINANCIAL BP96PS6 42.86 31,133 1,334,360.38
0.55 OGN ORGANON & CO BLDC8J4 18.52 71,863 1,330,902.76
0.55 TMHC TAYLOR MORRISON HOME CORP B832462 57.10 23,268 1,328,602.80
0.54 CIVI CIVITAS RESOURCES INC BMG9GG2 73.29 17,980 1,317,754.20
0.54 KMI KINDER MORGAN INC B3NQ4P8 18.76 69,876 1,310,873.76
0.54 GILD GILEAD SCIENCES INC 2369174 67.03 19,450 1,303,733.50
0.54 ABG ASBURY AUTOMOTIVE GROUP 2855855 222.19 5,860 1,302,033.40
0.54 PTEN PATTERSON-UTI ENERGY INC 2672537 11.60 112,180 1,301,288.00
0.54 UNM UNUM GROUP 2433842 51.79 25,075 1,298,634.25
0.53 SNX TD SYNNEX CORP 2002554 115.94 11,137 1,291,223.78
0.53 ALLY ALLY FINANCIAL INC B72XK05 39.71 32,399 1,286,564.29
0.53 ARW ARROW ELECTRONICS INC 2051404 125.02 10,279 1,285,080.58
0.53 CE CELANESE CORP B05MZT4 156.05 8,214 1,281,794.70
0.53 WU WESTERN UNION CO B1F76F9 13.40 95,555 1,280,437.00
0.53 OMF ONEMAIN HOLDINGS INC BYSZB89 50.42 25,309 1,276,079.78
0.52 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 100.55 12,642 1,271,153.10
0.52 FITB FIFTH THIRD BANCORP 2336747 37.06 34,077 1,262,893.62
0.52 DOW DOW INC BHXCF84 56.74 22,221 1,260,819.54
0.52 HPE HEWLETT PACKA BYVYWS0 16.83 74,876 1,260,163.08
0.52 AXS AXIS CAPITAL HOLDINGS LTD 2677606 62.25 20,190 1,256,827.50
0.52 CAG CONAGRA BRANDS INC 2215460 31.27 40,151 1,255,521.77
0.51 CMC COMMERCIAL METALS CO 2213260 54.45 22,811 1,242,058.95
0.51 TPR TAPESTRY INC BF09HX3 39.44 31,477 1,241,452.88
0.51 TAP MOLSON COORS-B B067BM3 64.18 19,328 1,240,471.04
0.51 PNC PNC FINANCIAL SE 2692665 157.61 7,868 1,240,075.48
0.51 M MACY'S INC 2345022 19.02 65,145 1,239,057.90
0.51 RDN RADIAN GROUP INC 2173911 30.60 40,439 1,237,433.40
0.51 HBAN HUNTINGTON BANCSHARES INC 2445966 13.63 90,342 1,231,361.46
0.51 GLW CORNING INC 2224701 31.53 38,905 1,226,674.65
0.50 KHC KRAFT HEINZ CO/THE BYRY499 38.07 32,090 1,221,666.30
0.50 MTB M & T BANK CORP 2340168 146.86 8,296 1,218,350.56
0.50 LNC LINCOLN NATIONAL CORP 2516378 28.73 42,378 1,217,519.94
0.50 MTG MGIC INVESTMENT CORP 2548616 20.30 59,562 1,209,108.60
0.50 CF CF INDUSTRIES HO B0G4K50 78.54 15,372 1,207,316.88
0.50 BBY BEST BUY CO INC 2094670 75.04 16,084 1,206,943.36
0.50 KEY KEYCORP 2490911 14.72 81,863 1,205,023.36
0.49 FNB FNB CORP 2041308 13.63 87,489 1,192,475.07
0.49 RITM RITHM CAPITAL CORP BRJ9GW0 11.08 107,599 1,192,196.92
0.49 FOXA FOX CORP - CLASS A BJJMGL2 31.71 37,565 1,191,186.15
0.49 AVT AVNET INC 2066505 48.47 24,558 1,190,326.26
0.49 RF REGIONS FINANCIAL CORP B01R311 19.35 61,384 1,187,780.40
0.49 HUN HUNTSMAN CORP B0650B9 24.03 49,102 1,179,921.06
0.48 FHN FIRST HORIZON CORP 2341484 14.88 78,071 1,161,696.48
0.47 ONB OLD NATIONAL BANCORP 2658441 16.47 69,929 1,151,730.63
0.47 VTRS VIATRIS INC BMWS3X9 11.36 100,872 1,145,905.92
0.47 JNPR JUNIPER NETWORKS INC 2431846 35.88 31,783 1,140,374.04
0.47 PB PROSPERITY BANCSHARES INC 2310257 62.70 18,183 1,140,074.10
0.47 AGNC AGNC INVESTMENT CORP BYYHJL8 9.37 121,574 1,139,148.38
0.47 USB US BANCORP 2736035 40.97 27,769 1,137,695.93
0.47 FYBR FRONTIER COMMUNI BP0V999 22.87 49,716 1,137,004.92
0.47 STWD STARWOOD PROPERT B3PQ520 19.72 57,518 1,134,254.96
0.47 MDT MEDTRONIC PLC BTN1Y11 81.29 13,949 1,133,914.21
0.47 CMA COMERICA INC 2212870 52.64 21,478 1,130,601.92
0.46 PARA PARAMOUNT GLOBAL-CLASS B BKTNTR9 12.74 88,458 1,126,954.92
0.46 MOS MOSAIC CO/THE B3NPHP6 30.41 36,921 1,122,767.61
0.46 IP INTERNATIONAL PAPER CO 2465254 34.41 32,614 1,122,247.74
0.46 SNV SYNOVUS FINANCIAL CORP BMH4NJ8 36.63 30,575 1,119,962.25
0.46 OZK BANK OZK BZ56Q65 46.08 24,268 1,118,269.44
0.46 ALB ALBEMARLE CORP 2046853 114.21 9,710 1,108,979.10
0.46 HPQ HP INC BYX4D52 27.67 39,926 1,104,752.42
0.45 UBSI UNITED BANKSHARES INC 2905794 34.58 31,889 1,102,721.62
0.45 CVS CVS HEALTH CORP 2577609 68.50 15,915 1,090,177.50
0.45 PRGO PERRIGO CO PLC BGH1M56 30.49 35,742 1,089,773.58
0.45 CMCSA COMCAST CORP-CLASS A 2044545 40.36 26,954 1,087,863.44
0.44 LAD LITHIA MOTORS INC 2515030 264.49 4,016 1,062,191.84
0.43 GEN GEN DIGITAL INC BJN4XN5 20.68 50,281 1,039,811.08
0.43 KRC KILROY REALTY CORP 2495529 33.73 30,566 1,030,991.18
0.42 QGEN QIAGEN N.V. BMGBZP0 41.89 24,303 1,018,052.67
0.41 NVST ENVISTA HOLDINGS CORP BK63SF3 20.22 49,459 1,000,060.98
0.39 WBA WALGREENS BOOTS BTN1Y44 18.05 52,753 952,191.65
0.38 X UNITED STATES STEEL CORP 2824770 37.94 24,432 926,950.08
0.38 LEG LEGGETT & PLATT INC 2510682 18.21 50,807 925,195.47
0.36 VLY VALLEY NATIONAL BANCORP 2935326 7.90 109,266 863,201.40
0.31 YUM YUM! BRANDS INC 2098876 140.10 5,315 744,631.50
0.29 PSX PHILLIPS 66 B78C4Y8 158.84 4,401 699,054.84
0.28 AMGN AMGEN INC 2023607 273.54 2,471 675,917.34
0.24 DGX QUEST DIAGNOSTICS INC 2702791 136.70 4,167 569,628.90
0.20 MCK MCKESSON CORP 2378534 532.00 912 485,184.00
0.18 LLY ELI LILLY & CO 2516152 745.69 580 432,500.20
0.17 PGR PROGRESSIVE CORP 2705024 214.02 1,907 408,136.14
0.16 CACI CACI INTL-A 2159267 382.43 1,025 391,990.75
0.16 EME EMCOR GROUP INC 2474164 338.08 1,147 387,777.76
0.16 ABBV ABBVIE INC B92SR70 169.54 2,279 386,381.66
0.15 OTHER PAYABLE & RECEIVABLES 1.00 370,847 370,847.17
0.15 NYCB NY COMM BANCORP 2711656 3.18 114,286 363,429.48
0.13 SNA SNAP-ON INC 2818740 271.34 1,196 324,522.64
0.13 GD GENERAL DYNAMICS CORP 2365161 292.72 1,095 320,528.40
0.13 CHD CHURCH & DWIGHT CO INC 2195841 106.71 2,917 311,273.07
0.12 KR KROGER CO 2497406 55.63 5,379 299,233.77
0.12 TW TRADEWEB MARKE-A BJXMVK2 101.83 2,775 282,578.25
0.11 COST COSTCO WHOLESALE CORP 2701271 722.68 367 265,223.56
0.11 NVR NVR INC 2637785 7,835.11 33 258,558.63
0.11 SAIC SCIENCE APPLICATIONS INTE BDTZZG7 128.08 1,997 255,775.76
0.10 TRV TRAVELERS COS INC/THE 2769503 214.32 1,175 251,826.00
0.10 AFL AFLAC INC 2026361 83.75 2,868 240,195.00
0.10 SO SOUTHERN CO/THE 2829601 73.25 3,259 238,721.75
0.10 HSY HERSHEY CO/THE 2422806 187.08 1,238 231,605.04
0.10 CASY CASEY'S GENERAL 2179414 313.32 738 231,230.16
0.09 ED CONSOLIDATED EDISON INC 2216850 92.84 2,403 223,094.52
0.09 DUK DUKE ENERGY CORP B7VD3F2 98.20 2,259 221,833.80
0.09 FCN FTI CONSULTING INC 2351449 212.97 1,027 218,720.19
0.09 XOM EXXON MOBIL CORP 2326618 121.03 1,775 214,828.25
0.09 ADP AUTOMATIC DATA PROCESSING 2065308 246.84 870 214,750.80
0.09 WRB WR BERKLEY CORP 2093644 79.08 2,697 213,278.76
0.09 HII HUNTINGTON INGAL B40SSC9 274.47 773 212,165.31
0.09 ORI OLD REPUBLIC INTL CORP 2659109 30.31 6,934 210,169.54
0.09 LDOS LEIDOS HOLDINGS INC BDV82B8 128.68 1,621 208,590.28
0.09 CAH CARDINAL HEALTH INC 2175672 103.37 2,013 208,083.81
0.09 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,092.35 188 205,361.80
0.08 MDLZ MONDELEZ INTER-A B8CKK03 70.75 2,873 203,264.75
0.08 LIN LINDE PLC BNZHB81 445.06 455 202,502.30
0.08 AKAM AKAMAI TECHNOLOGIES INC 2507457 101.76 1,983 201,790.08
0.08 NOC NORTHROP GRUMMAN CORP 2648806 474.68 424 201,264.32
0.08 HON HONEYWELL INTL 2020459 196.16 1,020 200,083.20
0.08 KMB KIMBERLY-CLARK CORP 2491839 136.04 1,468 199,706.72
0.08 CVX CHEVRON CORP 2838555 162.85 1,216 198,025.60
0.08 REGN REGENERON PHARMACEUTICALS 2730190 907.32 216 195,981.12
0.08 FDS FACTSET RESEARCH 2329770 419.94 464 194,852.16
0.08 MA MASTERCARD INC - A B121557 462.82 421 194,847.22
0.08 ADC AGREE REALTY CORP 2062161 57.56 3,347 192,653.32
0.08 PNW PINNACLE WEST CAPITAL 2048804 74.50 2,573 191,688.50
0.08 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 345.55 543 187,633.65
0.08 ATR APTARGROUP INC 2045247 139.74 1,336 186,692.64
0.08 BDX BECTON DICKINSON AND CO 2087807 234.36 784 183,738.24
0.08 AON AON PLC-CLASS A BLP1HW5 311.86 582 181,502.52
0.08 ICE INTERCONTINENTAL BFSSDS9 132.33 1,371 181,424.43
0.07 ORCL ORACLE CORP 2661568 115.09 1,568 180,461.12
0.07 UNH UNITEDHEALTH GROUP INC 2917766 486.18 367 178,428.06
0.07 TJX TJX COMPANIES INC 2989301 94.50 1,856 175,392.00
0.07 NNN NNN REIT INC 2211811 40.96 4,281 175,349.76
0.07 VRTX VERTEX PHARM 2931034 404.91 430 174,111.30
0.07 DRI DARDEN RESTAURANTS INC 2289874 155.90 1,103 171,957.70
0.07 SON SONOCO PRODUCTS CO 2821395 56.13 3,062 171,870.06
0.07 AAPL APPLE INC 2046251 166.90 1,021 170,404.90
0.07 APD AIR PRODS & CHEM 2011602 233.71 678 158,455.38
0.07 SJM JM SMUCKER CO/THE 2951452 117.70 1,345 158,306.50
0.07 VRSK VERISK ANALYTICS INC B4P9W92 222.25 711 158,019.75
0.04 CASH 1.00 100,408 100,407.98
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 03/31/24

Sector Weight (%)
Financials 22.6
Information Technology 14.8
Health Care 11.8
Consumer Staples 10.2
Consumer Discretionary 9.2
Communication Services 8.4
Industrials 7.6
Materials 6.6
Energy 6.0
Utilities 1.8
Real Estate 1.0

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Information Technology Services 6.1
Pharmaceuticals: Major 5.9
Major Telecommunications 5.1
Regional Banks 4.7
Environmental Services 3.7
Food Retail 3.6
Insurance Brokers/Services 3.4
Finance/Rental/Leasing 3.2
Oil & Gas Pipelines 3.2
Major Banks 2.8
Aerospace & Defense 2.8
Other 55.5

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 04/23/24

Return on Equity 14.90%
Weighted Avg. Market Cap 99,397 M
2023 2024
Price-to-earnings 12.17 12.16
Price-to-book value 1.90 1.73

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 03/31/24

Versus Beta
S&P 500 0.75
NASDAQ-100 0.45
MSCI EAFE 0.73
MSCI Emg. Mkts 0.44
Standard Deviation 15.40%

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 03/31, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 380 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 5 stars for both periods. 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.