EMFM


MSCI Next Emerging & Frontier ETF

Fund Summary

The Global X MSCI Next Emerging & Frontier ETF (EMFM) provides investors broad exposure to frontier and next emerging markets, while excluding the more developed emerging markets of Brazil, Russia, India, and China (BRICs), as well as South Korea and Taiwan.

Fund Objective

The Global X MSCI Next Emerging & Frontier ETF (EMFM) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Select Emerging and Frontier Markets Access Index.

Why EMFM?

Expanded Core

EMFM seeks to improve upon traditional emerging market funds by excluding the slower-growing BRICs, South Korea, and Taiwan, while including the high growth potential of frontier markets.

Balanced Risks

EMFM balances its exposures across stocks, sectors, and regions.

Fund Details As of 04/21/21

Key Facts

Ticker EMFM
Inception Date 11/06/13
CUSIP 37950E218
ISIN US37950E2182
Bloomberg Index Ticker NU722163
Primary Exchange NYSE Arca
Number of Holdings 201

Stats & Fees

Net Assets $19,925,734
Net Asset Value (NAV) $19.93
Shares Outstanding 1,000,000
Total Expense Ratio 0.70%

Distributions

30-Day SEC Yield 1.82%
Distribution Frequency Semi-Annually

Fund Prices As of 04/21/21

NAV $19.93 Daily Change -$0.12 -0.61%
Market Price $20.14 Daily Change $0.08 0.40%
30-Day Median Bid-Ask Spread 0.67%

Performance History

As of recent month & quarter-end (03/31/21)
As of recent month & quarter-end (03/31/21)
Fund NAV Market Price Index
1 Year 38.33% 39.32% 39.80%
3 Years -4.27% -4.28% -3.49%
5 Years 2.46% 2.74% 3.27%
Since Inception -1.12% -1.00% -0.39%
1 Year 38.33% 39.32% 39.80%
3 Years -4.27% -4.28% -3.49%
5 Years 2.46% 2.74% 3.27%
Since Inception -1.12% -1.00% -0.39%
Year-to-Date 1.15% 1.35% 1.39%
1 Month 1.42% 2.47% 1.53%
3 Months 1.15% 1.35% 1.39%
Since Inception -7.99% -7.15% -2.84%
Year-to-Date 1.15% 1.35% 1.39%
1 Month 1.42% 2.47% 1.53%
3 Months 1.15% 1.35% 1.39%
Since Inception -7.99% -7.15% -2.84%

The Fund name, investment objective, and investment strategies changed effective January 16, 2019. Index performance reflects the performance of the Solactive Next Emerging & Frontier Index through January 15, 2019, and the MSCI Select Emerging and Frontier Markets Access Index thereafter.

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 of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.

Fund Characteristics As of 04/21/21

Return on Equity 10.20%
Weighted Avg. Market Cap 14,534 M
2020 2021
Price-to-earnings 20.79 15.69
Price-to-book value 1.64 1.57

Source: AltaVista Research, LLC

Fund Risk Stats As of 04/21/21

Versus Beta
S&P 500 0.81
MSCI EAFE 0.94
MSCI Emg. Mkts 0.81
Standard Deviation 19.00%

Source: AltaVista Research, LLC

Sector Breakdown As of 03/31/21

% of Net Assets
Financials 29.6
Communication Services 13.2
Consumer Staples 10.6
Consumer Discretionary 10.0
Real Estate 9.7
Industrials 7.4
Energy 6.8
Materials 5.8
Utilities 4.9
Health Care 1.7
Information Technology 0.4

Source: AltaVista Research, LLC

Country Breakdown As of 03/31/21

% of Net Assets
Saudi Arabia 10.9
Thailand 10.2
Indonesia 9.3
South Africa 9.2
Malaysia 8.1
Mexico 7.5
Vietnam 7.4
Uae 5.4
Philippines 4.9
Qatar 4.3
Poland 3.0
Other/Cash 19.8

Source: AltaVista Research, LLC

Top Holdings As of 04/21/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.07 WALMEX* MM WALMART DE MEXIC BW1YVH8 3.18 129,311 411,568.26
1.98 ARAMCO AB SAUDI ARABIAN OIL CO BJTM270 9.44 41,691 393,542.05
1.89 STC AB SAUDI TELECOM CO B12M7Q5 33.12 11,373 376,653.67
1.83 VIC VN VINGROUP JSC B27Y417 6.20 58,760 364,401.13
1.80 ETISALAT UH EMIRATES TELECOM GROUP CO 6322173 5.78 61,884 357,844.40
1.65 TLKM IJ TELKOM INDONESIA BD4T6W7 0.23 1,455,035 328,459.38
1.53 SAFCOM KN SAFARICOM PLC B2QN3J6 0.36 849,500 305,491.01
1.52 NBK KK NATIONAL BANK OF KUWAIT 6889526 2.75 110,368 303,502.84
1.45 PTT-R TB PTT PCL-NVDR 6420408 1.25 231,350 289,694.93
1.40 BBCA IJ BANK CENTRAL ASIA TBK PT B01C1P6 2.12 131,558 279,096.72
1.40 HPG VN HOA PHAT GROUP JSC B29CC15 2.48 112,326 278,441.92
1.37 VHM VN VINHOMES JSC BFZBXH0 4.71 57,890 272,453.04
1.33 RJHI AB AL RAJHI BANK B12LZH9 25.60 10,381 265,739.43
1.29 SMPH PM SM PRIME HOLDINGS INC 6818843 0.72 357,427 256,780.75
1.27 FSR SJ FIRSTRAND LTD 6606996 3.56 71,007 252,890.37
1.26 GFNORTEO MM GRUPO F BANORT-O 2421041 5.97 41,944 250,457.28
1.22 CPALL-R TB CP ALL PCL-NVDR B08YDH1 2.05 118,372 242,635.22
1.20 PBK MK PUBLIC BANK BERHAD B012W42 1.01 235,550 238,922.35
1.15 TLEVICPO MM GRUPO TELEV-CPO 2380108 2.68 85,011 228,240.98
1.13 IQCD QD INDUSTRIES QATAR 6673570 3.55 63,563 225,551.76
1.10 VNM VN VIET NAM DAIRY P B16GLK5 4.30 50,796 218,593.40
1.08 BBRI IJ BANK RAKYAT INDO 6709099 0.29 741,870 215,974.54
1.08 ASII IJ ASTRA INTERNATIO B800MQ5 0.36 596,867 214,633.87
0.99 TNB MK TENAGA NASIONAL BHD 6904612 2.43 80,883 196,662.86
0.98 ALI PM AYALA LAND INC 6055112 0.68 286,970 195,499.79
0.97 IAM MC MAROC TELECOM B04SJM4 15.58 12,398 193,197.72
0.92 ALE PW ALLEGRO.EU SA BMBQDF6 14.35 12,808 183,792.38
0.89 AOT-R TB AIRPORTS OF-NVDR 6741206 2.07 85,320 176,247.25
0.86 SM PM SM INVESTMENTS CORP B068DB9 19.98 8,548 170,818.83
0.86 FAB UH FIRST ABU DHABI BANK PJSC 6624471 3.88 43,980 170,740.32
0.84 SHP SJ SHOPRITE HOLDINGS LTD 6801575 10.21 16,374 167,243.89
0.80 SBK SJ STANDARD BANK GROUP LTD B030GJ7 8.28 19,157 158,596.35
0.79 CEZ CP CEZ AS 5624030 27.47 5,702 156,607.91
0.76 MSN VN MASAN GROUP CORP B59R0P1 4.57 33,110 151,380.50
0.74 GAPB MM AERO DEL PACIF-B B0ZV104 10.78 13,700 147,652.95
0.70 AUB KK AHLI UNITED BANK B.S.C B17M2Q5 0.71 195,242 138,764.00
0.70 FUNO11 MM FIBRA UNO B671GT8 1.25 111,200 138,538.58
0.69 CLS SJ CLICKS GROUP LTD 6105578 16.99 8,105 137,687.54
0.69 BAP CREDICORP LTD 2232878 125.18 1,097 137,322.46
0.68 HTO GA HELLENIC TELECOM 5051605 16.43 8,283 136,097.21
0.68 ADVANC-R TB ADVANCED IN-NVDR 6412609 5.71 23,734 135,536.32
0.68 BDMS-R TB BANGKOK DUS-NVDR B013SV4 0.70 194,710 135,418.03
0.68 ALDAR UH ALDAR PROPERTIES PJSC B0LX3Y2 0.99 136,157 135,298.87
0.66 ASURB MM AERO DEL SURES-B 2639349 17.91 7,310 130,956.43
0.66 EMIRATES UH EMIRATES NBD PJSC B28PFX8 3.24 40,409 130,914.09
0.65 MCG SJ MULTICHOICE GROUP LTD BHZSKR4 8.87 14,666 130,066.94
0.65 BIMAS TI BIM BIRLESIK MAGAZALAR AS B0D0006 8.02 16,183 129,721.07
0.65 MAY MK MALAYAN BANKING BHD 6556325 2.01 64,200 129,303.57
0.65 FALAB CI FALABELLA SA 2771672 4.86 26,567 129,000.59
0.64 EMAAR UH EMAAR PROPERTIES PJSC B01RM25 1.02 123,977 126,908.38
0.62 KAP LI NAC KAZATOMPROM JSC-GDR BGXQL36 26.95 4,584 123,538.80
0.62 PKO PW PKO BANK POLSKI SA B03NGS5 8.79 14,003 123,033.04
0.59 CENCOSUD CI CENCOSUD SA B00R3L2 2.34 50,487 118,050.42
0.58 DNP PW DINO POLSKA SA BD0YVN2 66.27 1,735 114,982.84
0.57 MRP SJ MR PRICE GROUP LTD BYXW419 13.41 8,489 113,864.22
0.57 PGN PW PGNIG B0L9113 1.84 61,193 112,505.06
0.56 DIGI MK DIGI.COM BHD 6086242 1.02 109,902 112,008.83
0.56 BVT SJ BIDVEST GROUP LTD 6100089 11.96 9,312 111,335.33
0.55 CPIN IJ CHAROEN POK INDO 6315344 0.52 210,400 108,964.90
0.54 PTG MK PETRONAS GAS BHD 6703972 3.86 28,089 108,375.42
0.54 EREGL TI EREGLI B03MS97 2.18 49,446 107,788.81
0.54 SAFCO AB SABIC AGRI-NUTRIENTS CO B1323K0 28.16 3,815 107,424.67
0.53 CIMB MK CIMB GROUP HOLDINGS BHD 6075745 1.02 102,990 105,464.16
0.52 SECO AB SAUDI ELECTRICITY CO B132NM2 6.67 15,602 104,007.79
0.52 OPAP GA OPAP SA 7107250 14.04 7,368 103,426.39
0.51 BMRI IJ BANK MANDIRI 6651048 0.42 242,436 102,196.87
0.51 PEP MK PPB GROUP BERHAD 6681669 4.49 22,600 101,455.96
0.51 KIMBERA MM KIMBERLY-CLA M-A 2491914 1.87 54,000 101,199.07
0.50 PTTEP-R TB PTT EXPLOR-NVDR B1359L2 3.65 27,450 100,271.97
0.50 SLM SJ SANLAM LTD B0L6750 3.88 25,721 99,912.98
0.50 VRE VN VINCOM RETAIL JSC BZ0WW59 1.50 65,990 98,949.25
0.49 CPI SJ CAPITEC BANK HOLDINGS LTD 6440859 97.47 1,001 97,564.33
0.47 MAXIS MK MAXIS BHD B5387L5 1.14 82,976 94,231.42
0.47 ABG SJ ABSA GROUP LTD BFX05H3 8.58 10,895 93,448.56
0.46 UNVR IJ UNILEVER INDONESIA TBK PT 6687184 0.42 217,795 91,434.93
0.46 YANSAB AB YANBU NATIONAL P B128CF7 18.69 4,888 91,368.14
0.45 SQUARE BD SQUARE PHARMACEU 6833802 2.47 36,581 90,490.98
0.45 INTUCH-R TB INTOUCH HOLDINGS PCL-NVDR 6397557 2.04 44,200 90,247.25
0.45 AXIATA MK AXIATA GROUP BERHAD B2QZGV5 0.92 97,267 89,926.54
0.45 CHILE CI BANCO DE CHILE 2100845 0.12 719,364 88,691.33
0.44 QEWS QD QATAR ELECTRICIT 6566614 4.67 18,932 88,446.39
0.44 QIBK QD QATAR ISLAMIC BANK 6713982 4.80 18,346 88,076.92
0.44 QFLS QD QATAR FUEL QSC 6516556 5.01 17,370 87,064.68
0.44 NVL VN NO VA LAND INVES BYZCMP7 4.70 18,438 86,694.29
0.44 NRP SJ NEPI ROCKCASTLE PLC BDD7WV3 6.64 13,054 86,658.49
0.43 TLV RO BANCA TRANSILVANIA SA 5393307 0.59 143,474 84,966.35
0.43 SNP RO OMV PETROM SA 7180411 0.11 800,385 84,634.77
0.42 COMI EY COMMERCIAL INTL 6243898 3.77 22,133 83,521.02
0.42 IENOVA* MM INFRAESTRUCTURA B84XBP2 4.28 19,440 83,110.35
0.41 HAR SJ HARMONY GOLD MNG 6410562 4.75 17,268 81,967.30
0.41 TEL PM PLDT INC BDGN274 26.75 3,051 81,628.74
0.41 CPS PW CYFROWY POLSAT SA B2QRCM4 8.02 10,164 81,550.21
0.40 RIBL AB RIYAD BANK B12LZW4 6.84 11,774 80,529.87
0.40 PZU PW PZU B63DG21 8.47 9,501 80,493.57
0.40 NESZ MK NESTLE (MALAYSIA) BERHAD 6629335 32.88 2,430 79,899.30
0.40 MPHC QD MESAIEED PETROCH BK4Z0B1 0.51 155,506 78,927.52
0.39 ENELCHIL CI ENEL CHILE SA BYMLZD6 0.08 977,992 78,487.81
0.39 QGTS QD QATAR GAS TRANSP B0MLBC9 0.87 88,260 77,085.09
0.38 TCELL TI TURKCELL B03MYN3 1.79 42,735 76,605.77
0.37 TBS SJ TIGER BRANDS LTD B0J4PP2 14.23 5,229 74,422.26
0.37 CPN-R TB CENTRAL PATTANA PCL-NVDR B013L15 1.68 44,100 74,215.19
0.37 ADCB UH ABU DHABI COMMERCIAL BANK 6545464 1.68 43,988 74,008.91
0.37 UNTR IJ UNITED TRACTORS TBK PT 6230845 1.55 47,650 73,705.01
0.37 KBANK-R TB KASIKORNBANK PCL-NVDR 6364766 4.47 16,270 72,668.69
0.36 MARK QD MASRAF AL RAYAN B0VR7W0 1.23 58,065 71,668.25
0.36 DANGCEM NL DANGOTE CEMENT PLC B4TFNR1 0.54 131,575 70,817.13
0.35 ARI SJ AFRICAN RAINBOW 6041122 19.36 3,599 69,689.12
0.34 BDO PM BDO UNIBANK INC B5VJH76 2.18 31,260 68,147.32
0.33 ATW MC ATTIJARIWAFA BANK BMX3JT1 47.74 1,394 66,550.56
0.33 BSAN CI BANCO SANTANDER CHILE 2000257 0.06 1,025,440 65,948.29
0.33 VJC VN VIETJET AVIATION JSC BYP2451 5.68 11,580 65,741.28
0.33 KLBF IJ KALBE FARMA TBK PT B7311V6 0.10 636,400 65,479.56
0.33 GULF-R TB GULF ENERGY DE-R BFN4H35 1.12 58,200 64,986.44
0.32 SMGR IJ SEMEN INDONESIA 6795236 0.72 89,700 64,512.39
0.32 SNG RO SOCIETATEA NATIO BFTD6K6 7.86 8,151 64,095.68
0.32 PINFRA* MM PROMOTORA Y OPER 2393388 8.11 7,817 63,394.68
0.32 ALMARAI AB ALMARAI CO B137VV2 13.79 4,563 62,905.21
0.31 KAYAN AB SAUDI KAYAN PETR B1Z8F66 4.54 13,678 62,076.57
0.31 OMU SJ OLD MUTUAL LTD BDVPYN5 0.92 67,310 61,868.72
0.30 PEO PW BANK PEKAO SA 5473113 20.13 2,979 59,974.69
0.30 REM SJ REMGRO LTD 6290689 7.80 7,596 59,237.20
0.29 BRES QD BARWA REAL ESTATE CO B0YTG26 0.90 65,263 58,666.79
0.29 SABB AB SAUDI BRITISH BANK B12LSY7 7.89 7,317 57,752.44
0.29 INDF IJ INDOFOOD SUKSES 6283979 0.47 123,200 57,445.29
0.29 EEC AB ETIHAD ETISALAT CO B12LR51 8.01 7,147 57,268.24
0.29 EA-R TB ENERGY ABSOLUTE PCL-NVDR B9L4K92 1.94 29,400 56,980.38
0.28 QLG MK QL RESOURCES BHD B00G234 1.46 38,700 56,627.27
0.28 MAHB MK MALAYSIA AIRPORT 6188193 1.50 37,400 56,086.39
0.28 NED SJ NEDBANK GROUP LTD 6628008 10.27 5,437 55,812.17
0.28 JARIR AB JARIR MARKETING CO B128FM5 51.25 1,077 55,196.90
0.28 CSR MC CONSUMAR BV8Q556 27.48 2,005 55,095.26
0.28 T MK TELEKOM MALAYSIA BHD 6868398 1.41 38,900 55,032.03
0.28 HMPRO-R TB HOME PRODUCT-NVD 6418555 0.44 123,760 54,881.61
0.27 VCB VN BANK FOR FOREIGN B622TR5 4.46 12,250 54,680.39
0.27 DSY SJ DISCOVERY LTD 6177878 9.50 5,674 53,890.30
0.27 TOWR IJ SARANA MENARA BCDBLX3 0.08 699,100 52,925.67
0.26 GAM MK GAMUDA BHD 6359881 0.85 61,000 51,807.81
0.26 CMA MC CIMENTS DU MAROC 6192989 200.94 256 51,439.84
0.26 SAVOLA AB SAVOLA B133RS9 10.84 4,743 51,411.38
0.25 BPI PM BANK PHILIPPINE 6074968 1.69 29,630 50,219.30
0.25 CASH 0.00 96,220,607 49,991.71
0.25 AEV PM ABOITIZ EQUITY 6068411 0.71 69,573 49,551.37
0.24 MABANEE KK MABANEE CO KPSC B00PQY0 2.34 20,787 48,670.05
0.24 BSFR AB BANQUE SAUDI FRANSI B12LZT1 9.81 4,958 48,651.91
0.24 CBQK QD COMMERCIAL BANK PSQC 6150448 1.47 32,962 48,487.91
0.24 HSBK LI HALYK SAVING-GDR B1KDG41 14.46 3,320 48,007.20
0.24 BTS-R TB BTS GROUP HOLDIN B0H72C9 0.29 166,200 47,985.64
0.24 BKMB OM BANKMUSCAT SAOG B11WYH6 1.01 47,207 47,820.08
0.24 BCI CI BANCO CRED INVER 2069355 55.05 852 46,904.67
0.23 TUPRS TI TUPRAS B03MYT9 10.39 4,350 45,181.00
0.22 MER PM MANILA ELECTRIC COMPANY B247XZ6 5.59 7,970 44,588.56
0.22 LH-R TB LAND & HOUSES PUB - NVDR 6581941 0.27 164,700 44,137.18
0.22 HLBK MK HONG LEONG BANK BERHAD 6436892 4.35 10,000 43,533.12
0.22 KRI MK KOSSAN RUBBER INDUSTRIES B0DD1H9 0.95 45,100 43,009.71
0.22 ASELS TI ASELSAN ELEKTRONIK SANAYI B03MP41 1.77 24,178 42,838.67
0.22 JKH SL JOHN KEELLS HOLDINGS PLC 6475538 0.76 55,973 42,781.45
0.20 ALINMA AB ALINMA BANK B39NWT3 4.82 8,428 40,632.03
0.20 APPC AB ADVANCED PETROCH B1P6WF8 20.59 1,969 40,532.98
0.20 BH-R TB BUMRUNGRAD-NVDR B0166J7 4.43 9,100 40,354.12
0.20 RNI SJ REINET INVESTMENTS SCA BF52QF2 19.48 2,060 40,136.10
0.20 CRC-R TB CENTRAL RETAIL-R BKV24W4 1.12 35,600 40,035.09
0.20 ICBP IJ INDOFOOD CBP SUK B4LD3M8 0.61 65,300 39,548.52
0.19 KOMB CP KOMERCNI BANKA AS 4519449 30.84 1,250 38,546.96
0.19 BBNI IJ BANK NEGARA INDO 6727121 0.40 96,800 38,473.50
0.19 BEM-R TB BANGKOK EXPRESSWAY-NVDR BDCR9C4 0.26 150,500 38,411.23
0.19 TOP-R TB THAI OIL PCL-NVDR B030K62 1.73 22,030 38,128.17
0.19 GFINBURO MM GRUPO FIN INB-O 2822398 0.98 37,900 37,171.81
0.18 DIB UH DUBAI ISLAMIC BANK 6283452 1.22 29,683 36,284.03
0.18 INTP IJ INDOCEMENT TUNGG 6454861 0.87 40,900 35,678.42
0.17 RHBBANK MK RHB BANK BHD 6244675 1.29 26,500 34,145.84
0.17 EQBNK KN EQUITY GROUP HOLDINGS PLC B0WCDV5 0.36 93,100 33,694.56
0.17 GGRM IJ GUDANG GARAM TBK PT 6366999 2.49 13,454 33,519.26
0.17 SPL PW SANTANDER BANK POLSKA SA 7153639 55.43 592 32,811.63
0.17 SAB VN SAIGON BEER ALCO BDSFBV5 7.37 4,450 32,784.40
0.16 GPSC-R TB GLOBAL POWER SYNERGY-NVDR BWX43V4 2.34 13,900 32,593.72
0.16 GARAN TI TURKIYE GARANTI BANKASI B03MYP5 0.85 38,185 32,475.04
0.16 ZAINKSA AB MOBILE TELECOMMU B2QG180 3.99 8,116 32,375.70
0.16 EGCO/F TB ELEC GEN PUB-FOR 6304643 5.63 5,700 32,096.03
0.16 ALBI AB BANK ALBILAD B12LZP7 9.68 3,304 31,981.01
0.16 ADIB UH ABU DHABI ISLAMIC BANK 6001728 1.32 24,039 31,806.36
0.16 QIIK QD QATAR INTERNATIO 6571544 2.58 12,232 31,545.86
0.16 KNCB KN KCB GROUP LTD B1VG917 0.39 79,200 30,891.29
0.15 AKBNK TI AKBANK T.A.S. B03MN70 0.60 51,444 30,676.24
0.15 ARNB AB ARAB NATIONAL BANK B12LZK2 5.70 5,320 30,301.10
0.14 AOTHAIM AB ABDULLAH AL OTHA B3BQB93 34.77 813 28,269.21
0.14 SCB-R TB SIAM COMMER-NVDR 6363172 3.38 8,170 27,628.65
0.14 BJC-R TB BERLI JUCKE-NVDR 6360162 1.16 23,690 27,586.06
0.14 MBT PM METROPOLITAN BANK & TRUST 6514442 0.93 29,500 27,405.04
0.13 GRAM BD GRAMEENPHONE LTD B453FG2 3.98 6,671 26,550.03
0.13 BCP MC BANQUE CENTRALE POPULAIRE B01J1K2 28.71 916 26,294.76
0.13 RATCH-R TB RATCH GROUP PCL-NVDR 6362771 1.60 15,700 25,043.87
0.12 BRD RO BRD-GROUPE SOCIE B07GYB9 3.77 6,407 24,158.17
0.11 BBL-R TB BANGKOK BAN-NVDR 6368360 4.04 5,600 22,600.10
0.11 MONET CP MONETA MONEY BANK AS BD3CQ16 3.79 5,700 21,580.72
0.09 ARBK JR ARAB BANK PLC B074509 5.63 3,060 17,220.59
0.09 GBK KK GULF BANK 6889515 0.68 24,973 17,085.48
0.08 GUARANTY NL GUARANTY TRUST BANK 6226059 0.08 216,406 16,544.80
0.08 BJAZ AB BANK AL-JAZIRA B12LZQ8 4.47 3,543 15,834.00
0.08 BUPA AB BUPA ARABIA B2RLCR0 29.49 531 15,660.12
0.06 ZENITHBA NL ZENITH BANK PLC B01CKG0 0.05 230,376 12,568.53
0.03 BRAC BD BRAC BANK LTD B1QS725 0.50 13,323 6,610.35
0.00 HDB VN HDBANK BYX3359 1.18 7 8.25
Holdings are subject to change.


Investing involves risk, including the possible loss of principal. Investments in smaller companies typically exhibit higher volatility. International investing may involve risk of capital loss from unfavorable fluctuations 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. Frontier markets generally have less developed capital markets than traditional emerging market countries, and, consequently, the risks of investing in foreign securities are magnified in such countries. These countries are subject to potentially significant political, social and economic instability, which could materially and adversely affect the companies in which the Fund may invest.

EMFM invests in securities and markets that are susceptible to fluctuations in certain commodity markets. Commodities represent a significant portion of the Latin American and Middle Eastern economies. Any negative changes in commodity markets could have a great impact on these economies. Unlike most exchange-traded funds, EMFM intends to effect all creations and redemptions partially for cash, rather than in-kind securities. As a result, an investment in EMFM may be less tax-efficient than an investment in a more conventional ETF.

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 July 14, 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 July 14, 2020, market price returns were based on the midpoint between the Bid and Ask price. Market price returns. 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. 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 MSCI, nor does MSCI 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 MSCI.