EMBD


Emerging Markets Bond ETF Active

Fund Summary

The Global X Emerging Markets Bond ETF (EMBD) is an actively managed fund sub-advised by Mirae Asset Global Investments that seeks a high level of total return, consisting of both income and capital appreciation, by investing in emerging market debt. EMBD primarily invests in emerging market debt securities denominated in U.S. dollars, however, the Fund may also invest in those denominated in applicable local foreign currencies. Securities may include fixed-rate and floating-rate debt instruments issued by sovereign, quasi-sovereign, and corporate entities from emerging market countries.

EMBD’s portfolio managers incorporate both top-down macro views consistent with the firm’s Investment Committee and bottom-up fundamental research to evaluate the investment attractiveness of select countries and companies that are believed to offer superior risk-adjusted returns. The portfolio managers determine country allocation primarily based on economic indicators, industry structure, terms of trade, political environment and geopolitical issues.  In addition, the portfolio managers conduct relative valuation analysis on sovereign and corporate issues to tactically identify potential opportunities to enhance the Fund’s risk-adjusted returns. The portfolio managers may dynamically adjust the top-down and bottom-up strategies of the Fund to better reflect market developments.

Fund Objective

The Global X Emerging Markets Bond ETF (EMBD) seeks a high level of total return consisting of both income and capital appreciation.

Why EMBD?

Experienced Portfolio Managers

EMBD’s portfolio managers have extensive track records in actively-managed emerging market debt strategies.

Competitive Cost

At a 0.39% Total Expense Ratio, EMBD offers the outperformance potential and risk management of active portfolio managers, at a competitive cost.

High Yield Potential

By targeting emerging market debt securities, EMBD aims to offer high yields with low correlations to other fixed income securities.

Fund Details As of 6/30/20

Key Facts

Ticker EMBD
Inception Date 6/1/20
CUSIP 37954Y350
ISIN US37954Y3505
Bloomberg Index Ticker EMBDIV
Primary Exchange NYSE Arca

Stats & Fees

Net Assets $59,432,320
NAV $25.84
Shares Outstanding 2,300,000
Total Expense Ratio 0.39%

Distributions

30-Day SEC Yield N/A
Distribution Frequency Monthly

Fund Prices As of 6/30/20

NAV Price 30-Day Median Bid-Ask Spread
Net Asset Value $25.84 Closing Price $26.02 0.23%
Daily Change $0.01 0.06% Daily Change $0.05 0.19%  

Performance History

Cumulative %

Data as of month end (6/30/20)

Fund NAV Closing Price Benchmark JPMorgan EMBI Global Core Index
1 Month -- -- --
3 Months -- -- --
6 Months -- -- --
Since Inception -- -- --

Cumulative %

Data as of quarter end (6/30/20)

Fund NAV Closing Price Benchmark JPMorgan EMBI Global Core Index
Since Inception 3.36% 4.08% 3.09%

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.

Fund Characteristics As of 6/30/20

Macauley Duration 9.8 Years
Yield to Maturity 4.93%
Issuer Type Breakdown
Government 48.88%
Corporate 48.23%
Other 2.89%

Source: AltaVista Research, LLC

Top 10 Holdings

As of 6/30/20
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
3.79 CASH 1.00 2,349,679 2,349,678.52
2.74 OCPMR 6 7/8 04/25/44 BLT1XS9 1.21 1,400,000 1,698,824.40
1.83 REPHUN 5 3/8 03/25/24 BKX4SH1 1.13 1,000,000 1,134,400.00
1.77 SUZANO 7 03/16/47 BD096R6 1.10 1,000,000 1,098,760.00
1.72 IDASAL 4 3/4 05/15/25 BLCVMS9 1.07 1,000,000 1,067,386.42
1.71 BHRAIN 6 1/4 11/14/24 BMZ81W1 1.06 1,000,000 1,060,404.00
1.64 BANBOG 4 3/8 08/03/27 BD9MLZ9 1.01 1,000,000 1,014,260.00
1.61 T 0 1/8 05/31/22 BLB6SN2 1.00 1,000,000 999,257.81
1.39 INTLWT 5.95 12/15/39 BF19226 1.08 800,000 861,600.00
1.38 CDEL 3 5/8 08/01/27 BD09JJ9 1.07 800,000 856,282.42
Holdings are subject to change.

Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.

High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. EMBD is actively managed, which could increase its transaction costs (thereby lowering its performance) and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. EMBD is non-diversified.

As an actively managed Fund, EMBD does not seek to replicate a specified index and is subject to increased credit and default risk, where there is an inability or unwillingness by the issuer of a fixed income security to meet its financial obligations, debt extension risk, where an issuer may exercise its right to pay principal on an obligation later than expected, as well as interest rate/maturity risk, where the value of the Fund’s fixed income assets will decline because of rising interest rates.

EMBD may invest in securities denominated in foreign currencies. Because the Fund’s NAV is determined in U.S. dollars, the EMBD’s NAV could decline if currencies of the underlying securities depreciate against the U.S. dollar or if there are delays or limits on repatriation of such currencies. Currency exchange rates can be very volatile and can change quickly and unpredictably.

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. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times. 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 JPMorgan, nor does JPMorgan 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 JPMorgan.