AUSF


Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 379 Mid-Cap Value funds, based on risk-adjusted returns as of 10/31/2023

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 12/05/23

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $182.86 million
NAV $34.57
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 12/04/23

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 5,290,002
Number of Holdings 194
30-Day Median Bid-Ask Spread 0.24%

Distributions As of 12/05/23

30-Day SEC Yield 2.07%
Distribution Frequency Quarterly

ETF Prices As of 12/05/23

NAV $34.57 Daily Change -$0.35 -1.00%
Market Price $34.56 Daily Change -$0.40 -1.14%

Performance History

As of recent
(09/30/23)
As of recent
(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 9.13% 9.33% 9.52%
3 Years 14.08% 14.12% 14.45%
5 Years 10.39% 10.38% 10.74%
Since Inception 9.50% 9.50% 9.85%
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 12.92% 12.99% 13.30%
1 Month 10.55% 10.55% 10.64%
3 Months 4.66% 4.60% 4.78%
Since Inception 61.36% 61.36% 64.12%

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 12/05/23

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.57 NVDA NVIDIA CORP 2379504 465.66 10,094 4,700,372.04
2.52 ADBE ADOBE INC 2008154 602.22 7,639 4,600,358.58
2.42 MA MASTERCARD INC - A B121557 408.69 10,836 4,428,564.84
2.41 BRK/B BERKSHIRE HATH-B 2073390 355.03 12,431 4,413,377.93
2.40 AVGO BROADCOM INC BDZ78H9 913.12 4,802 4,384,802.24
2.39 GE GENERAL ELECTRIC CO BL59CR9 120.23 36,304 4,364,829.92
2.34 META META PLATFORMS INC B7TL820 318.29 13,440 4,277,817.60
2.25 LLY ELI LILLY & CO 2516152 588.15 7,006 4,120,578.90
1.93 ORCL ORACLE CORP 2661568 114.53 30,871 3,535,655.63
1.65 CMCSA COMCAST CORP-CLASS A 2044545 41.61 72,305 3,008,611.05
1.63 CSCO CISCO SYSTEMS INC 2198163 47.93 62,139 2,978,322.27
1.60 LIN LINDE PLC BNZHB81 403.97 7,221 2,917,067.37
1.38 NFLX NETFLIX INC 2857817 455.15 5,546 2,524,261.90
1.36 BKNG BOOKING HOLDINGS INC BDRXDB4 3,148.01 791 2,490,075.91
1.22 AMAT APPLIED MATERIALS INC 2046552 146.15 15,277 2,232,733.55
1.12 CAT CATERPILLAR INC 2180201 255.19 8,025 2,047,899.75
0.97 TJX TJX COMPANIES INC 2989301 88.00 20,054 1,764,752.00
0.96 PCAR PACCAR INC 2665861 93.87 18,689 1,754,336.43
0.96 LRCX LAM RESEARCH CORP 2502247 697.14 2,508 1,748,427.12
0.87 UBER UBER TECHNOLOGIES INC BK6N347 57.97 27,387 1,587,624.39
0.76 ISRG INTUITIVE SURGICAL INC 2871301 309.52 4,515 1,397,482.80
0.75 ETN EATON CORP PLC B8KQN82 225.60 6,067 1,368,715.20
0.69 SNPS SYNOPSYS INC 2867719 535.71 2,358 1,263,204.18
0.67 M MACY'S INC 2345022 16.46 74,779 1,230,862.34
0.66 TOL TOLL BROTHERS INC 2896092 87.21 13,902 1,212,393.42
0.65 MTH MERITAGE HOMES CORP 2601326 146.07 8,095 1,182,436.65
0.64 KLAC KLA CORP 2480138 537.23 2,188 1,175,459.24
0.63 FDX FEDEX CORP 2142784 266.08 4,330 1,152,126.40
0.61 BCC BOISE CASCADE CO B9BP4R1 113.42 9,784 1,109,701.28
0.60 CADE CADENCE BANK BMCS168 26.76 40,917 1,094,938.92
0.59 PARA PARAMOUNT GLOBAL-CLASS B BKTNTR9 15.51 70,049 1,086,459.99
0.59 GEN GEN DIGITAL INC BJN4XN5 22.25 48,519 1,079,547.75
0.59 UBSI UNITED BANKSHARES INC 2905794 34.79 30,839 1,072,888.81
0.58 OZK BANK OZK BZ56Q65 44.51 23,807 1,059,649.57
0.57 FHN FIRST HORIZON CORP 2341484 13.58 77,140 1,047,561.20
0.57 SNV SYNOVUS FINANCIAL CORP BMH4NJ8 33.09 31,604 1,045,776.36
0.57 TMHC TAYLOR MORRISON HOME CORP B832462 46.01 22,708 1,044,795.08
0.57 FITB FIFTH THIRD BANCORP 2336747 30.11 34,655 1,043,462.05
0.57 KEY KEYCORP 2490911 12.94 79,956 1,034,630.64
0.57 SRC SPIRIT REALTY CAPITAL INC BHHZBZ8 42.24 24,483 1,034,161.92
0.57 VZ VERIZON COMMUNIC 2090571 38.42 26,913 1,033,997.46
0.56 ALLY ALLY FINANCIAL INC B72XK05 30.81 33,331 1,026,928.11
0.56 COF CAPITAL ONE FINA 2654461 115.32 8,902 1,026,578.64
0.56 T AT&T INC 2831811 17.22 59,358 1,022,144.76
0.56 WBS WEBSTER FINANCIAL CORP 2945143 46.70 21,718 1,014,230.60
0.55 KRC KILROY REALTY CORP 2495529 35.75 28,284 1,011,153.00
0.55 GRMN GARMIN LTD B3Z5T14 124.18 8,127 1,009,210.86
0.55 COLB COLUMBIA BANKING 2176608 23.70 42,569 1,008,885.30
0.55 FYBR FRONTIER COMMUNI BP0V999 22.31 45,086 1,005,868.66
0.55 INTC INTEL CORP 2463247 41.92 23,960 1,004,403.20
0.55 CDNS CADENCE DESIGN SYS INC 2302232 262.18 3,827 1,003,362.86
0.55 VLY VALLEY NATIONAL BANCORP 2935326 9.61 104,012 999,555.32
0.55 PB PROSPERITY BANCSHARES INC 2310257 62.64 15,898 995,850.72
0.54 C CITIGROUP INC 2297907 46.70 21,101 985,416.70
0.54 TFC TRUIST FINANCIAL CORP BKP7287 33.15 29,713 984,985.95
0.54 HBAN HUNTINGTON BANCSHARES INC 2445966 11.64 84,465 983,172.60
0.54 EMN EASTMAN CHEMICAL CO 2298386 83.57 11,748 981,780.36
0.54 IVZ INVESCO LTD B28XP76 15.00 65,437 981,555.00
0.54 WAL WESTERN ALLIANCE BANCORP B0CCGJ4 53.71 18,217 978,435.07
0.53 TDG TRANSDIGM GROUP INC B11FJK3 955.51 1,018 972,709.18
0.53 CMA COMERICA INC 2212870 47.83 20,316 971,714.28
0.53 SYF SYNCHRONY FINANCIAL BP96PS6 33.98 28,559 970,434.82
0.53 CFG CITIZENS FINANCIAL GROUP BQRX1X3 29.06 33,369 969,703.14
0.53 TPR TAPESTRY INC BF09HX3 32.42 29,857 967,963.94
0.53 RITM RITHM CAPITAL CORP BRJ9GW0 10.46 92,219 964,610.74
0.53 KHC KRAFT HEINZ CO/THE BYRY499 35.84 26,913 964,561.92
0.53 JNPR JUNIPER NETWORKS INC 2431846 28.75 33,449 961,658.75
0.53 OMF ONEMAIN HOLDINGS INC BYSZB89 43.19 22,249 960,934.31
0.53 FNB FNB CORP 2041308 12.39 77,419 959,221.41
0.52 JEF JEFFERIES FINANC BG0Q4Z2 36.64 26,154 958,282.56
0.52 X UNITED STATES STEEL CORP 2824770 36.21 26,309 952,648.89
0.52 GM GENERAL MOTORS CO B665KZ5 32.68 28,967 946,641.56
0.51 MTG MGIC INVESTMENT CORP 2548616 17.60 53,340 938,784.00
0.51 CMC COMMERCIAL METALS CO 2213260 45.33 20,692 937,968.36
0.51 ONB OLD NATIONAL BANCORP 2658441 15.88 58,850 934,538.00
0.51 UAL UNITED AIRLINES B4QG225 39.59 23,564 932,898.76
0.51 RTX RTX CORPORATION BM5M5Y3 82.69 11,247 930,014.43
0.51 MTB M & T BANK CORP 2340168 132.11 7,037 929,658.07
0.51 STWD STARWOOD PROPERT B3PQ520 20.48 45,180 925,286.40
0.50 WFC WELLS FARGO & CO 2649100 44.49 20,562 914,803.38
0.50 MAN MANPOWERGROUP INC 2562490 75.78 11,993 908,829.54
0.50 TSN TYSON FOODS INC-CL A 2909730 49.94 18,195 908,658.30
0.50 HUN HUNTSMAN CORP B0650B9 24.92 36,324 905,194.08
0.49 IAC IAC INC BNDYF48 47.89 18,859 903,157.51
0.49 BBY BEST BUY CO INC 2094670 74.00 12,164 900,136.00
0.49 CAG CONAGRA BRANDS INC 2215460 28.76 31,189 896,995.64
0.49 SNX TD SYNNEX CORP 2002554 97.45 9,204 896,929.80
0.49 AGNC AGNC INVESTMENT CORP BYYHJL8 9.00 99,520 895,680.00
0.49 ZION ZIONS BANCORP NA 2989828 37.39 23,925 894,555.75
0.48 AM ANTERO MIDSTREAM CORP BJBT0Q4 13.10 67,613 885,730.30
0.48 DTM DT MIDSTREAM INC BN7L880 57.21 15,444 883,551.24
0.48 ARW ARROW ELECTRONICS INC 2051404 118.40 7,460 883,264.00
0.48 IP INTERNATIONAL PAPER CO 2465254 36.44 24,219 882,540.36
0.48 GLW CORNING INC 2224701 28.46 30,939 880,523.94
0.48 RF REGIONS FINANCIAL CORP B01R311 17.00 51,627 877,659.00
0.48 PRGO PERRIGO CO PLC BGH1M56 30.91 28,389 877,503.99
0.48 VTRS VIATRIS INC BMWS3X9 9.61 91,134 875,797.74
0.48 DOW DOW INC BHXCF84 51.14 17,051 871,988.14
0.48 KMI KINDER MORGAN INC B3NQ4P8 17.50 49,820 871,850.00
0.48 ABG ASBURY AUTOMOTIVE GROUP 2855855 217.22 4,013 871,703.86
0.47 OKE ONEOK INC 2130109 69.28 12,442 861,981.76
0.47 BG BUNGE GLOBAL SA BQ6BPG9 106.10 8,108 860,258.80
0.47 ROP ROPER TECHNOLOGIES INC 2749602 535.54 1,599 856,328.46
0.47 CVS CVS HEALTH CORP 2577609 71.02 12,013 853,163.26
0.47 AAP ADVANCE AUTO PARTS INC 2822019 53.16 16,039 852,633.24
0.47 LAD LITHIA MOTORS INC 2515030 266.27 3,192 849,933.84
0.46 NXST Nexstar Media Group Inc 2949758 142.29 5,960 848,048.40
0.46 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 92.82 9,132 847,632.24
0.46 AVT AVNET INC 2066505 46.47 18,134 842,686.98
0.46 RDN RADIAN GROUP INC 2173911 25.57 32,945 842,403.65
0.45 MSM MSC INDL DIRECT 2567655 96.93 8,498 823,711.14
0.45 HPE HEWLETT PACKA BYVYWS0 16.08 51,195 823,215.60
0.45 DD DUPONT DE NEMOURS INC BK0VN47 70.88 11,506 815,545.28
0.45 MOS MOSAIC CO/THE B3NPHP6 34.95 23,280 813,636.00
0.44 CPRT COPART INC 2208073 48.79 16,611 810,450.69
0.43 CHRD CHORD ENERGY CORP BLDDYB1 158.28 5,008 792,666.24
0.43 PFE PFIZER INC 2684703 29.09 27,186 790,840.74
0.43 NYCB NY COMM BANCORP 2711656 9.65 81,557 787,025.05
0.42 ST SENSATA TECHNOLO BFMBMT8 32.89 23,439 770,908.71
0.42 F FORD MOTOR CO 2615468 10.60 72,669 770,291.40
0.42 AJG ARTHUR J GALLAGHER & CO 2359506 244.79 3,112 761,786.48
0.42 PH PARKER HANNIFIN CORP 2671501 434.83 1,746 759,213.18
0.41 APO APOLLO GLOBAL MA BN44JF6 90.73 8,219 745,709.87
0.40 CIVI CIVITAS RESOURCES INC BMG9GG2 66.91 10,921 730,724.11
0.40 CHK CHESAPEAKE ENERGY CORP BMZ5LZ5 76.39 9,555 729,906.45
0.40 CTRA COTERRA ENERGY INC 2162340 25.34 28,741 728,296.94
0.39 ANET ARISTA NETWORKS INC BN33VM5 215.71 3,292 710,117.32
0.39 UNM UNUM GROUP 2433842 42.52 16,683 709,361.16
0.38 HP HELMERICH & PAYNE 2420101 35.68 19,292 688,338.56
0.36 VAC MARRIOTT VACATIONS WORLD B45K9N8 73.02 9,100 664,482.00
0.35 CRH US CRH PLC-SPONSORED ADR B01ZKD6 63.09 10,072 635,442.48
0.35 ALB ALBEMARLE CORP 2046853 113.26 5,586 632,670.36
0.33 DHI DR HORTON INC 2250687 130.73 4,671 610,639.83
0.33 FICO FAIR ISAAC CORP 2330299 1,131.04 532 601,713.28
0.32 OGN ORGANON & CO BLDC8J4 11.09 52,419 581,326.71
0.32 ACGL ARCH CAPITAL GROUP LTD 2740542 81.85 7,059 577,779.15
0.28 VRSK VERISK ANALYTICS INC B4P9W92 238.60 2,177 519,432.20
0.27 BKR BAKER HUGHES CO BDHLTQ5 32.80 14,943 490,130.40
0.27 RCL ROYAL CARIBBEAN 2754907 114.29 4,246 485,275.34
0.26 LEN LENNAR CORP-A 2511920 131.90 3,623 477,873.70
0.26 VRT VERTIV HOLDINGS CO-A BL3LWS8 45.15 10,539 475,835.85
0.24 PHM PULTEGROUP INC 2708841 90.92 4,914 446,780.88
0.23 SMCI SUPER MICRO COMPUTER INC B1VQR35 262.96 1,570 412,847.20
0.21 IR INGERSOLL-RAND INC BL5GZ82 71.96 5,331 383,618.76
0.21 DELL DELL TECHNOLOGIES -C BHKD3S6 69.29 5,503 381,302.87
0.19 BLDR BUILDERS FIRSTSOURCE INC B0BV2M7 143.26 2,447 350,557.22
0.16 FLT FLEETCOR TECHNOLOGIES INC B4R28B3 250.94 1,171 293,850.74
0.15 ARES ARES MANAGEMENT CORP - A BF14BT1 109.62 2,507 274,817.34
0.15 NVR NVR INC 2637785 6,359.08 43 273,440.44
0.14 OTHER PAYABLE & RECEIVABLES 1.00 262,111 262,110.54
0.14 DKNG DRAFTKINGS INC-CL A BLDDH12 36.44 7,118 259,379.92
0.13 XPO XPO INC B6Z1355 84.95 2,748 233,442.60
0.13 DECK DECKERS OUTDOOR CORP 2267278 690.40 332 229,212.80
0.12 RS RELIANCE STEEL & ALUMINUM 2729068 269.67 838 225,983.46
0.12 WFRD WEATHERFORD INTERNATIONAL BLNN369 90.06 2,473 222,718.38
0.12 LII LENNOX INTERNATIONAL INC 2442053 413.44 538 222,430.72
0.12 AXON AXON ENTERPRISE INC BDT5S35 231.72 919 212,950.68
0.11 FTI TECHNIPFMC PLC BDSFG98 20.30 9,932 201,619.60
0.11 OC OWENS CORNING B1FW7Q2 138.08 1,424 196,625.92
0.11 EME EMCOR GROUP INC 2474164 211.77 920 194,828.40
0.10 SAIA SAIA INC 2982399 418.88 455 190,590.40
0.10 EXAS EXACT SCIENCES CORP 2719951 64.77 2,931 189,840.87
0.10 MANH MANHATTAN ASSOCIATES INC 2239471 227.18 835 189,695.30
0.10 PNR PENTAIR PLC BLS09M3 65.38 2,688 175,741.44
0.10 TW TRADEWEB MARKE-A BJXMVK2 94.83 1,850 175,435.50
0.09 ELF ELF BEAUTY INC BDDQ975 125.86 1,361 171,295.46
0.09 CASH 1.00 166,448 166,447.73
0.09 SSD SIMPSON MFG 2809250 175.46 901 158,089.46
0.08 ACLS AXCELIS TECHNOLOGIES INC BD420Q8 124.57 1,237 154,093.09
0.08 BRBR BELLRING BRANDS INC BN70ZC0 54.72 2,696 147,525.12
0.08 RMBS RAMBUS INC 2721967 64.56 2,150 138,804.00
0.07 APG API GROUP CORP BMBPH06 30.36 4,415 134,039.40
0.07 ONTO ONTO INNOVATION INC BKZ7N95 139.85 955 133,556.75
0.07 NVT NVENT ELECTRIC PLC BDVJJQ5 53.98 2,430 131,171.40
0.07 WYNN WYNN RESORTS LTD 2963811 82.21 1,592 130,878.32
0.07 PRI PRIMERICA INC B50K3X8 212.42 583 123,840.86
0.07 NSIT INSIGHT ENTERPRISES INC 2475060 171.25 711 121,758.75
0.07 OLED UNIVERSAL DISPLAY CORP 2277880 175.92 684 120,329.28
0.06 FIX COMFORT SYSTEMS USA INC 2036047 188.72 603 113,798.16
0.06 TPX TEMPUR SEALY INT 2216991 43.45 2,609 113,361.05
0.06 CLH CLEAN HARBORS INC 2202473 165.79 639 105,939.81
0.06 CELH CELSIUS HOLDINGS INC B19HX21 52.00 1,971 102,492.00
0.06 SCCO SOUTHERN COPPER CORP 2823777 71.59 1,419 101,586.21
0.06 APP APPLOVIN CORP-CLASS A BMV3LG4 37.07 2,712 100,533.84
0.05 ALSN ALLISON TRANSMIS B4PZ892 54.29 1,817 98,644.93
0.05 VNT VONTIER CORP BH4GV32 33.90 2,906 98,513.40
0.05 RIG TRANSOCEAN LTD B3KFWW1 6.24 15,012 93,674.88
0.05 ESAB ESAB CORP BJLTMN5 79.98 1,106 88,457.88
0.05 IOT SAMSARA INC-CL A BPK3058 34.67 2,477 85,877.59
0.05 EVR EVERCORE INC - A B1BHXZ2 151.78 565 85,755.70
0.04 AZEK AZEK CO INC/THE BKPVG43 34.55 2,295 79,292.25
0.04 FLS FLOWSERVE CORP 2288406 38.22 1,977 75,560.94
0.04 BMI BADGER METER INC 2069128 149.47 482 72,044.54
0.03 ATKR Atkore Inc BDHF495 130.25 474 61,738.50
0.03 COTY COTY INC-CL A BBBSMJ2 11.52 4,918 56,655.36
0.03 AAON AAON INC 2268130 63.41 866 54,913.06
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 11/30/23

Sector Weight (%)
Financials 25.6
Information Technology 21.4
Industrials 13.4
Consumer Discretionary 10.9
Communication Services 8.7
Materials 6.9
Health Care 5.3
Energy 4.6
Consumer Staples 2.2
Real Estate 1.1

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Packaged Software 9.3
Regional Banks 7.7
Semiconductors 6.4
Internet Software/Services 5.1
Industrial Machinery 5.0
Pharmaceuticals: Major 3.7
Finance/Rental/Leasing 3.4
Multi-Line Insurance 3.2
Major Banks 3.1
Information Technology Services 2.5
Trucks/Construction/Farm Machinery 2.4
Other 48.2

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 12/04/23

Return on Equity 14.60%
Weighted Avg. Market Cap 162,120 M
2022 2023
Price-to-earnings 12.35 12.76
Price-to-book value 1.96 1.77

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 11/30/23

Versus Beta
S&P 500 0.73
NASDAQ-100 0.42
MSCI EAFE 0.70
MSCI Emg. Mkts 0.40
Standard Deviation 15.10%

Source: new windowAltaVista Research, LLC

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 10/31, 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 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.