MSCI Emerging Markets Covered Call ETF

Reasons to Consider EMCC

High Income Potential

EMCC seeks to generate income through covered call writing, which historically produces higher yields in periods of volatility.1

Monthly Distributions

EMCC expects to make distributions on a monthly basis.

Efficient Options Execution

EMCC writes call options on the iShares Core MSCI Emerging Markets ETF, saving investors the time and potential expense of doing so individually.

1Covered call writing can limit the upside potential of the underlying security

Key Information As of 04/23/24

Inception Date 11/07/23
Gross Expense Ratio 0.69%
Net Expense Ratio* 0.60%
Net Assets $1.71 million
NAV $24.37
Fact Sheet View the document

*Fee waivers are contractual and in effect until at least March 1, 2025.

ETF Summary

The Global X MSCI Emerging Markets Covered Call ETF (EMCC) follows a “covered call” or “buy-write” strategy, in which the Fund buys the iShares Core MSCI Emerging Markets ETF and “writes” or “sells” call options on the same ETF.

ETF Objective

The Global X MSCI Emerging Markets Covered Call ETF (EMCC) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe MSCI Emerging Markets IMI BuyWrite Index.

Trading Details As of 04/23/24

Ticker EMCC
Bloomberg Index Ticker BXEMG
CUSIP 37960A495
ISIN US37960A4958
Primary Exchange NYSE Arca
Shares Outstanding 70,000
Number of Holdings 2
30-Day Median Bid-Ask Spread 0.28%

Distributions As of 04/23/24

30-Day SEC Yield 3.43%
Unsubsidized 30-Day SEC Yield 3.34%
Distribution Frequency Monthly

ETF Prices As of 04/23/24

NAV $24.37 Daily Change $0.04 0.16%
Market Price $24.41 Daily Change $0.12 0.49%

Performance History

As of recent month & quarter-end (03/31/24)
Fund NAV Market Price Index
Year-to-Date -0.22% -0.19% 3.23%
1 Month 1.41% 1.46% 1.93%
3 Months -0.22% -0.19% 3.23%
Since Inception 3.09% 3.17% 7.11%
Year-to-Date -0.22% -0.19% 3.23%
1 Month 1.41% 1.46% 1.93%
3 Months -0.22% -0.19% 3.23%
Since Inception 3.09% 3.17% 7.11%

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.

Options Details As of 04/23/24

iShares Core MSCI Emerging Markets ETF (IEMG) Price* 50.97
*Market Price as of 04/23/24

Upside Cap Details

Option Positions Notional Exposure Strike Upside Before Cap Expiration Date Calendar Days to Expiry
Short iShares Core MSCI Emerging Markets ETF Call Option -$1,732,980 50 0.00% 05/17/2024 24

Top Holdings As of 04/23/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
102.80 IEMG ISHA CORE EM B8NDCB6 50.97 34,400 1,753,368.00
1.30 CASH 1.00 22,207 22,206.59
-1.03 OTHER PAYABLE & RECEIVABLES 1.00 -17,518 -17,517.98
-3.08 2IEMG US 05/17/2024 C50 154.34 -340 -52,475.60
Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Characteristics As of 04/23/24

Return on Equity 12.80%
Weighted Avg. Market Cap 110,387 M
2023 2024
Price-to-earnings 13.93 12.03
Price-to-book value 1.60 1.47

Source: new windowAltaVista Research, LLC

ETF Research

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. Investors in EMCC should be willing to accept a high degree of volatility in the price of the fund’s shares and the possibility of significant losses.

EMCC engages in options trading. An option is a contract sold by one party to another that gives the buyer the right, but not the obligation, to buy (call) or sell (put) a stock at an agreed upon price within a certain period or on a specific date. A covered call option involves holding a long position in a particular asset, and writing a call option on that same asset with the goal of realizing additional income from the option premium. By selling covered call options, the fund limits its opportunity to profit from an increase in the price of the underlying index above the exercise price, but continues to bear the risk of a decline in the index. A liquid market may not exist for options held by the fund. While the fund receives premiums for writing the call options, the price it realizes from the exercise of an option could be substantially below the indices current market price.

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. The 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, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. 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 Cboe or MSCI, nor do these entities 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 these entities.