EMM


Emerging Markets ex-China ETFActive

Morningstar Rating™ - Overall rating out of 721 Diversified Emerging Mkts funds, based on risk-adjusted returns as of 03/31/2024

Reasons to Consider EMM

High Growth Potential

According to the IMF, emerging market and developing economies have returned higher rates of GDP growth than major advanced economies (i.e., the G7) every year dating back to 1999 – a trend they forecast to continue.1

Experienced Portfolio Managers

EMM’s portfolio managers have extensive track records in actively managed emerging market strategies.

ETF Efficiency

In a single trade, EMM delivers access to fundamental stock picks across a range of sectors, with a focus on secular consumption stories across Emerging Markets, excluding China.

1IMF, Apr 2023

Key Information As of 04/23/24

Inception Date 09/24/10
Total Expense Ratio 0.75%
Net Assets $25.43 million
NAV $26.20
Standard Fact Sheet (Monthly) View the document
Expanded Fact Sheet (Quarterly) View the document

ETF Summary

The Global X Emerging Markets ex-China ETF (EMM) is an actively managed fund sub-advised in part by Mirae Asset Global Investments (Hong Kong) Limited. EMM seeks to invest in emerging market companies , excluding China, that we believe can achieve, or maintain, a dominant position within their respective market. As part of its investment strategy, EMM aims to identify early winners in growing industries, where entrepreneurship can produce long-term global competitiveness.

ETF Objective

The Global X Emerging Markets ex-China ETF (EMM) seeks to achieve long-term capital growth.

Trading Details As of 04/23/24

Ticker EMM
Bloomberg IOPV Ticker EMMIV
CUSIP 37960A636
ISIN US37960A6367
Primary Exchange NYSE Arca
Shares Outstanding 970,587
Number of Holdings 71
30-Day Median Bid-Ask Spread 0.46%

Distributions As of 04/23/24

30-Day SEC Yield 0.02%
Distribution Frequency Semi-Annually

Notice: Effective as of the close of business on May 12, 2023, the Fund acquired the assets and liabilities, and assumed the performance, financial and other historical information, of the Mirae Asset Discovery Emerging Markets Fund, a series of the Mirae Asset Discovery Funds.

ETF Prices As of 04/23/24

NAV $26.20 Daily Change $0.21 0.81%
Market Price $26.34 Daily Change $0.26 1.00%

Performance History

As of recent month & quarter-end (03/31/24)
As of recent month & quarter-end (03/31/24)
Fund NAV Market Price Previous Benchmark Current Benchmark
1 Year 6.89% 6.82% 8.15% 20.51%
3 Years -4.79% -4.82% -5.05% 2.16%
5 Years 3.12% 3.11% 2.22% 6.38%
10 Years 3.96% 3.95% 2.95% N/A
Since Inception 2.95% 2.94% 2.36% N/A
1 Year 6.89% 6.82% 8.15% 20.51%
3 Years -4.79% -4.82% -5.05% 2.16%
5 Years 3.12% 3.11% 2.22% 6.38%
10 Years 3.96% 3.95% 2.95% N/A
Since Inception 2.95% 2.94% 2.36% N/A
Year-to-Date 4.51% 4.63% 2.37% 4.01%
1 Month 3.05% 3.13% 2.48% 3.00%
3 Months 4.51% 4.63% 2.37% 4.01%
Since Inception 48.15% 48.04% 37.08% N/A
Year-to-Date 4.51% 4.63% 2.37% 4.01%
1 Month 3.05% 3.13% 2.48% 3.00%
3 Months 4.51% 4.63% 2.37% 4.01%
Since Inception 48.15% 48.04% 37.08% N/A

Effective May 12, 2023, the fund acquired the performance, financial, accounting and other historical information of the Mirae Asset Emerging Markets Fund. Performance shown prior to May 15, 2023 reflects the return of the Mirae Asset Emerging Markets Fund's I shares with a NAV conversion ratio of 0.40 applied in connection with the acquisition. Market price returns prior to that date reflects the predecessor fund’s NAV return.

From September 24, 2010 through March 29, 2024, the fund benchmark was the MSCI Emerging Markets Index. Effective April 1, 2024, and thereafter, the fund benchmark is the MSCI Emerging Markets ex China Index Net Total Return (NETR) Index. Performance information on this table includes both benchmarks denoted as "Previous" and "Current". Historical performance of the current benchmark on this table begins from March 09, 2017, onward.

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

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.34 TSM TAIWAN SEMIC-ADR 2113382 133.43 17,793 2,374,119.99
7.04 SMSN LI SAMSUNG ELECTR-GDR REG S 4942818 1,390.00 1,288 1,790,320.00
3.86 000660 KS SK HYNIX INC 6450267 124.07 7,900 980,155.99
3.18 IBN ICICI BANK LTD-SPON ADR 2569286 26.29 30,774 809,048.46
3.11 3661 TT ALCHIP TECHNOLOGIES LTD B4TPSL0 87.72 9,000 789,437.36
2.64 2454 TT MEDIATEK INC 6372480 29.81 22,500 670,745.73
2.37 RIGD LI RELIANC-GDR 144A B16CYP9 70.50 8,563 603,691.50
2.22 LT IN LARSEN & TOUBRO LTD B0166K8 43.32 13,000 563,113.01
2.17 2382 TT QUANTA COMPUTER INC 6141011 7.27 76,000 552,422.14
2.09 LEMONTRE IN LEMON TREE HOTELS LTD BF2LSQ7 1.62 327,873 531,087.87
2.06 TTAN IN TITAN CO LTD 6139340 43.59 12,042 524,917.42
1.94 APHS IN APOLLO HOSPITALS 6273583 74.33 6,648 494,142.57
1.90 HDB HDFC BANK LTD-ADR 2781648 58.44 8,274 483,532.56
1.83 ZOMATO IN ZOMATO LTD BL6P210 2.25 206,698 464,888.37
1.76 ANTO LN ANTOFAGASTA PLC 0045614 26.79 16,742 448,587.68
1.75 5274 TT ASPEED TECHNOLOGY INC B80VKP3 88.94 5,000 444,710.25
1.70 005380 KS HYUNDAI MOTOR CO 6451055 181.03 2,381 431,024.49
1.54 BBCA IJ BANK CENTRAL ASIA TBK PT B01C1P6 0.60 653,300 391,698.06
1.53 ITUB ITAU UNIBANC-ADR 2849739 6.25 62,285 389,281.25
1.52 WALMEX* MM WALMART DE MEXIC BW1YVH8 3.84 101,000 387,574.72
1.50 352820 KS HYBE CO LTD BNGCJ25 152.37 2,500 380,917.83
1.48 GFNORTEO MM GRUPO F BANORT-O 2421041 10.47 35,900 375,982.58
1.46 RENT3 BZ LOCALIZA RENT A CAR B08K3S0 9.74 38,000 370,264.35
1.39 VIVA3 BZ VIVARA PARTICIPACOES SA BKTPCJ8 4.35 81,300 353,985.57
1.36 MAXHEALT IN MAX HEALTHCARE I BMB2291 9.13 38,000 346,790.25
1.36 DALBHARA IN DALMIA BHARAT LTD BFN2YR2 23.41 14,772 345,878.60
1.35 3037 TT UNIMICRON TECHNOLOGY CORP 6137720 5.21 66,000 344,113.72
1.35 RJHI AB AL RAJHI BANK B12LZH9 20.98 16,397 344,044.98
1.34 SIEM IN SIEMENS LTD B15T569 68.34 5,000 341,699.29
1.29 TVSL IN TVS MOTOR CO LTD 6726548 23.43 14,000 328,079.79
1.28 EIM IN EICHER MOTORS LTD BMW4CV8 54.24 6,000 325,410.12
1.11 ALPHA GA ALPHA SERVICES A BZ1MXR7 1.78 158,648 282,927.22
1.09 CASH 1.00 276,986 276,986.30
1.06 AMRT IJ SUMBER ALFARIA T BCDBLJ9 0.18 1,491,000 270,255.24
1.05 BDMS-R TB BANGKOK DUS-NVDR B013SV4 0.76 354,812 268,035.51
1.05 AMERICAN AB AMERICANA RESTAU BP4X2F8 0.90 297,000 266,055.24
1.04 BMRI IJ BANK MANDIRI 6651048 0.42 627,100 263,869.14
1.03 ADNOCDRI UH ADNOC DRILLING CO PJSC BN12D39 1.06 246,500 261,073.83
1.00 ABB IN ABB INDIA LTD B1Y9QS9 75.68 3,362 254,435.96
0.97 BBRI IJ BANK RAKYAT INDO 6709099 0.33 757,500 247,518.50
0.97 TTMT IN TATA MOTORS LTD B611LV1 11.84 20,830 246,617.20
0.95 PNJ VN PHU NHUAN JEWELRY JSC B64FX58 3.64 66,500 241,746.91
0.95 FSR SJ FIRSTRAND LTD 6606996 3.23 74,766 241,298.49
0.94 MELI MERCADOLIBRE INC B23X1H3 1,395.00 172 239,940.00
0.94 RRRP3 BZ 3R PETROLEUM OLE BLF7QT3 6.73 35,500 239,048.89
0.93 SALIK UH SALIK CO PJSC BJN5952 0.97 243,782 235,627.95
0.91 PEPL IN PRESTIGE ESTATES PROJECTS B4T3LF9 15.45 15,000 231,712.04
0.89 BUDGET AB UNITED INTERNATI B2493D0 22.85 9,918 226,611.02
0.87 HNDL IN HINDALCO INDUSTRIES LTD B0GWF48 7.34 30,000 220,220.47
0.84 GPL IN GODREJ PROPERTIES LTD BGQL729 30.43 7,000 212,980.58
0.74 NU NU HOLDINGS LT-A BN6NP19 10.92 17,278 188,675.76
0.71 SNB AB THE SAUDI NATIONAL BANK BSHYYN1 9.97 18,090 180,379.12
0.67 VESTA* MM VESTA SAB DE CV B8F6ZF8 3.65 46,400 169,236.06
0.66 000270 KS KIA CORP 6490928 84.09 2,000 168,184.29
0.64 NPN SJ NASPERS LTD-N SHS BN0VX82 188.05 870 163,602.05
0.59 EBR ELETROBRAS-ADR 2186812 7.29 20,700 150,903.00
0.57 GFI GOLD FIELDS LTD-SPONS ADR 2416326 16.89 8,500 143,565.00
0.56 PEO PW BANK PEKAO SA 5473113 43.32 3,300 142,956.74
0.55 NAHDI AB NAHDI MEDICAL CO BMZPZG4 36.53 3,793 138,541.38
0.54 MYTIL GA MYTILINEOS S.A. 5898664 41.51 3,294 136,728.75
0.54 DNP PW DINO POLSKA SA BD0YVN2 95.40 1,433 136,706.45
0.51 KCHOL TI KOC HOLDING AS B03MVJ8 6.39 20,333 129,908.36
0.50 8069 TT E INK HOLDINGS INC 6744283 6.38 20,000 127,585.84
0.49 JAHEZ AB JAHEZ INTERNATIONAL CO BLGSG06 9.06 13,680 124,005.55
0.47 CLS SJ CLICKS GROUP LTD 6105578 14.98 7,906 118,394.27
0.46 CPI SJ CAPITEC BANK HOLDINGS LTD 6440859 113.59 1,037 117,797.89
0.44 3711 TT ASE TECHNOLOGY H BFXZDY1 4.45 25,000 111,177.56
0.41 RAPT4 BZ RANDON SA IMPLEMENTOS E P B010V49 2.22 47,200 104,632.57
0.39 BDO PM BDO UNIBANK INC B5VJH76 2.50 40,000 99,866.13
0.36 035420 KS NAVER CORP 6560393 130.67 700 91,471.07
0.29 SMPH PM SM PRIME HOLDINGS INC 6818843 0.49 150,000 73,543.47
0.20 3443 TT GLOBAL UNICHIP CORP B056381 34.50 1,500 51,755.07
0.02 UAE DIRHAM 0.27 17,878 4,867.57
0.01 THAILAND BAHT 0.03 111,766 3,015.40
0.00 EURO 1.13 0 0.09
0.00 CHINESE YUAN RENMINBI 0.17 0 -0.01
-0.01 SOUTH AFRICAN RAND 0.05 -26,380 -1,378.54
-0.62 OTHER PAYABLE & RECEIVABLES 1.00 -156,471 -156,471.27
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 03/31/24

Sector Weight (%)
Information Technology 37.2
Financials 17.7
Consumer Discretionary 15.8
Industrials 7.9
Health Care 5.1
Energy 3.9
Materials 3.5
Communication Services 3.2
Real Estate 2.8
Consumer Staples 2.3
Utilities 0.7

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Semiconductors 33.1
Regional Banks 16.1
Motor Vehicles 5.6
Computer Processing Hardware 5.3
Hospital/Nursing Management 5.2
Internet Software/Services 4.6
Engineering & Construction 3.9
Other Metals/Minerals 3.5
Packaged Software 3.0
Miscellaneous Commercial Services 2.7
Discount Stores 2.7
Other 14.3

Source: new windowAltaVista Research, LLC

Country Weight (%)
India 26.3
Taiwan 25.1
South Korea 15.6
Brazil 7.3
Indonesia 4.2
Saudi Arabia 3.9
Mexico 3.9
South Africa 2.7
Vietnam 1.9
Uae 1.6
Thailand 1.1
Other 6.4

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 16.00%
Weighted Avg. Market Cap 116,759 M
2023 2024
Price-to-earnings 24.37 18.44
Price-to-book value 3.10 2.80

Source: new windowAltaVista Research, LLC

ETF Research

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, EMM was rated against the following numbers of Diversified Emerging Mkts funds over the following time periods: 721 during the last 3 years, 657 during the last 5 years, 425 during the last 10 years. With respect to these Diversified Emerging Mkts funds, EMM received a Morningstar Rating of 3, 3, and 4 stars, respectively. 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. 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. A small number of companies and industries may represent a large portion of the market in a particular country or region, and these companies and industries can be sensitive to adverse social, political, economic or regulatory developments in that country or region.

EMM 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.

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 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.