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EMM

Emerging Markets ex-China ETFActive

Morningstar Rating™ - Overall rating out of 711 Diversified Emerging Mkts funds, based on risk-adjusted returns as of 07/31/2024

 

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 it expects to continue.1

Unlocking Opportunities on the Frontier

The strategy creates capacity to focus on smaller, sometimes overlooked markets, such as Greece, Mexico, and countries in Southeast Asia.

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, Oct2023

Key Information As of 09/10/24

Inception Date 09/24/10
Total Expense Ratio 0.75%
Net Assets $26.39 million
NAV $27.19
Standard Fact Sheet (Monthly) 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 09/10/24

Ticker EMM
Bloomberg IOPV Ticker EMMIV
CUSIP 37960A636
ISIN US37960A6367
Primary Exchange NYSE Arca
Shares Outstanding 970,587
Number of Holdings 69
30-Day Median Bid-Ask Spread 0.47%

Distributions As of 09/10/24

30-Day SEC Yield 0.63%
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 09/10/24

NAV $27.19 Daily Change -$0.04 -0.15%
Market Price $27.18 Daily Change -$0.06 -0.22%

Performance History

As of recent
(06/30/24)
As of recent
(06/30/24)
Fund NAV Market Price Previous Benchmark Current Benchmark
1 Year 13.46% 13.23% 12.55% 18.46%
3 Years -4.92% -5.01% -5.07% 1.35%
5 Years 3.53% 3.47% 3.10% 6.66%
10 Years 3.81% 3.79% 2.79% N/A
Since Inception 3.24% 3.22% 2.68% N/A
1 Year 11.67% 12.10% 15.07% 22.60%
3 Years -5.53% -5.60% -3.06% 1.76%
5 Years 4.29% 4.24% 4.79% 8.71%
10 Years 3.39% 3.36% 2.56% N/A
Since Inception 3.14% 3.12% 2.79% N/A
Year-to-Date 9.44% 9.35% 7.49% 8.42%
1 Month 6.99% 6.30% 3.94% 6.06%
3 Months 4.73% 4.51% 5.00% 4.24%
Since Inception 55.15% 54.72% 43.93% N/A
Year-to-Date 8.56% 8.50% 9.55% 11.32%
1 Month 0.50% -0.35% 1.61% 1.81%
3 Months 6.13% 5.48% 5.94% 8.90%
Since Inception 53.90% 53.52% 46.69% 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 09/10/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.65 TSM TAIWAN SEMIC-ADR 2113382 162.43 15,674 2,545,927.82
4.99 SMSN LI SAMSUNG ELECTR-GDR REG S 4942818 1,235.00 1,065 1,315,275.00
3.47 000660 KS SK HYNIX INC 6450267 115.74 7,900 914,331.44
3.38 IBN ICICI BANK LTD-SPON ADR 2569286 28.96 30,774 891,215.04
3.26 2454 TT MEDIATEK INC 6372480 35.11 24,500 860,116.50
3.16 5274 TT ASPEED TECHNOLOGY INC B80VKP3 139.03 6,000 834,174.76
2.50 ZOMATO IN ZOMATO LTD BL6P210 3.19 206,698 658,913.14
2.14 2382 TT QUANTA COMPUTER INC 6141011 7.44 76,000 565,499.03
2.13 HDB HDFC BANK LTD-ADR 2781648 61.03 9,188 560,743.64
2.11 LT IN LARSEN & TOUBRO LTD B0166K8 42.82 13,000 556,704.43
2.08 APHS IN APOLLO HOSPITALS 6273583 82.42 6,648 547,946.17
2.03 TTAN IN TITAN CO LTD 6139340 44.39 12,042 534,500.54
1.91 2317 TT HON HAI 6438564 5.25 96,000 504,046.60
1.87 055550 KS SHINHAN FINANCIA 6397502 42.13 11,700 492,888.24
1.74 TVSL IN TVS MOTOR CO LTD 6726548 32.81 14,000 459,296.53
1.61 TTMT IN TATA MOTORS LTD B611LV1 12.33 34,430 424,674.76
1.60 MM IN MAHINDRA & MAHINDRA LTD 6100186 32.03 13,143 421,007.96
1.55 005380 KS HYUNDAI MOTOR CO 6451055 171.93 2,381 409,371.44
1.55 VIVA3 BZ VIVARA PARTICIPACOES SA BKTPCJ8 5.03 81,300 409,316.40
1.54 ALPHA GA ALPHA SERVICES A BZ1MXR7 1.67 242,690 406,439.77
1.51 MAXHEALT IN MAX HEALTHCARE I BMB2291 10.46 38,000 397,642.19
1.46 RJHI AB AL RAJHI BANK B12LZH9 23.51 16,397 385,451.87
1.45 SIEM IN SIEMENS LTD B15T569 78.39 4,867 381,524.23
1.39 ADNOCDRI UH ADNOC DRILLING CO PJSC BN12D39 1.24 295,400 366,746.71
1.38 ANTO LN ANTOFAGASTA PLC 0045614 21.72 16,742 363,600.15
1.37 FSR SJ FIRSTRAND LTD 6606996 4.85 74,766 362,371.65
1.36 WEGE3 BZ WEG SA 2945422 9.40 38,300 359,866.23
1.36 CASH 1.00 358,679 358,679.28
1.35 MMYT MAKEMYTRIP LTD B552PC2 94.38 3,777 356,473.26
1.28 EIM IN EICHER MOTORS LTD BMW4CV8 56.41 6,000 338,467.13
1.21 1519 TT FORTUNE ELECTRIC CO LTD 6347604 16.78 19,000 318,757.28
1.16 ITUB ITAU UNIBANC-ADR 2849739 6.63 46,285 306,869.55
1.14 WALMEX* MM WALMART DE MEXIC BW1YVH8 2.99 101,000 301,736.68
1.14 ABB IN ABB INDIA LTD B1Y9QS9 89.74 3,362 301,692.72
1.14 CPI SJ CAPITEC BANK HOLDINGS LTD 6440859 167.67 1,787 299,630.88
1.13 PEPL IN PRESTIGE ESTATES PROJECTS B4T3LF9 21.87 13,600 297,422.19
1.12 BBCA IJ BANK CENTRAL ASIA TBK PT B01C1P6 0.67 442,700 296,566.02
1.12 BMRI IJ BANK MANDIRI 6651048 0.47 627,100 294,270.23
1.11 AMRT IJ SUMBER ALFARIA T BCDBLJ9 0.20 1,491,000 293,374.76
1.08 RENT3 BZ LOCALIZA RENT A CAR B08K3S0 7.46 38,000 283,531.71
1.07 MELI MERCADOLIBRE INC B23X1H3 2,017.58 140 282,461.20
1.03 RIGD LI RELIANC-GDR 144A B16CYP9 69.70 3,888 270,993.60
0.98 SALIK UH SALIK CO PJSC BJN5952 1.06 243,782 259,519.08
0.98 GPL IN GODREJ PROPERTIES LTD BGQL729 34.40 7,500 257,983.66
0.96 ARCO ARCOS DORADOS-A B529PQ0 8.20 31,000 254,200.00
0.96 LEMONTRE IN LEMON TREE HOTELS LTD BF2LSQ7 1.56 163,273 254,194.63
0.96 GFI GOLD FIELDS LTD-SPONS ADR 2416326 13.58 18,550 251,909.00
0.91 GFNORTEO MM GRUPO F BANORT-O 2421041 6.68 35,900 239,870.04
0.90 NU NU HOLDINGS LT-A BN6NP19 13.73 17,278 237,226.94
0.89 HNDL IN HINDALCO INDUSTRIES LTD B0GWF48 7.85 30,000 235,602.33
0.88 BUDGET AB UNITED INTERNATI B2493D0 23.51 9,918 233,147.01
0.84 SAHOL TI HACI OMER SABANCI HOLDING B03N0C7 2.74 81,100 222,292.96
0.81 AMERICAN AB AMERICANA RESTAU BP4X2F8 0.72 297,000 214,517.59
0.76 352820 KS HYBE CO LTD BNGCJ25 123.55 1,619 200,032.75
0.68 DNP PW DINO POLSKA SA BD0YVN2 80.69 2,233 180,190.89
0.66 BDMS-R TB BANGKOK DUS-NVDR B013SV4 0.88 198,412 174,922.42
0.63 SNB AB THE SAUDI NATIONAL BANK BSHYYN1 9.24 18,090 167,062.50
0.63 CLS SJ CLICKS GROUP LTD 6105578 20.94 7,906 165,564.05
0.57 000270 KS KIA CORP 6490928 74.58 2,000 149,157.08
0.55 PRIO3 BZ PRIO SA BYY0144 7.50 19,400 145,439.69
0.55 3661 TT ALCHIP TECHNOLOGIES LTD B4TPSL0 71.92 2,000 143,844.66
0.54 PNJ VN PHU NHUAN JEWELRY JSC B64FX58 4.01 35,600 142,861.78
0.54 PWGR IN POWER GRID CORP B233HS6 3.98 35,600 141,656.00
0.51 NAHDI AB NAHDI MEDICAL CO BMZPZG4 35.39 3,793 134,251.17
0.51 267260 KS HD HYUNDAI ELECTRIC CO BD4HFR9 190.17 700 133,117.49
0.48 PEO PW BANK PEKAO SA 5473113 38.41 3,300 126,736.98
0.46 MYTIL GA METLEN ENERGY & METALS SA 5898664 36.91 3,294 121,581.96
0.45 VESTA* MM VESTA SAB DE CV B8F6ZF8 2.56 46,400 118,965.47
0.43 3711 TT ASE TECHNOLOGY H BFXZDY1 4.49 25,000 112,233.01
0.34 RAPT4 BZ RANDON SA IMPLEMENTOS E P B010V49 1.92 47,200 90,559.60
0.00 EURO 1.13 0 0.09
0.00 UAE DIRHAM 0.27 -1 -0.17
-0.01 SOUTH AFRICAN RAND 0.06 -26,380 -1,471.48
-0.01 INDIA RUPEE 0.01 -191,774 -2,283.66
-0.95 OTHER PAYABLE & RECEIVABLES 1.00 -249,758 -249,757.72
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 08/31/24

Sector Weight (%)
Information Technology 31.2
Consumer Discretionary 20.6
Financials 19.4
Industrials 10.8
Health Care 4.0
Consumer Staples 4.0
Materials 3.3
Energy 2.9
Real Estate 2.5
Communication Services 0.8
Utilities 0.5

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Banks 18.6
Semiconductors & Semiconductor Equipment 18.1
Capital Goods 8.9
Automobiles & Components 8.5
Technology Hardware & Equipmen 5.4
Technology Hardware & Equipment 4.4
Consumer Services 4.1
Health Care Equipment & Services 4.0
Consumer Durables & Apparel 3.8
Semiconductors & Semiconductor 3.4
Materials 3.3
Other 17.5

Source: new windowAltaVista Research, LLC

Country Weight (%)
India 30.0
Taiwan 24.2
South Korea 15.0
Brazil 6.0
South Africa 4.0
Saudi Arabia 3.5
Indonesia 3.2
Mexico 2.6
Greece 2.0
Uae 1.8
Britain 1.5
Other 6.2

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 09/10/24

Return on Equity 17.90%
Weighted Avg. Market Cap 127,543 M
2023 2024
Price-to-earnings 23.78 17.13
Price-to-book value 3.25 2.88

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 08/31/24

Versus Beta
S&P 500 0.98
NASDAQ-100 0.86
MSCI EAFE 0.76
MSCI Emg. Mkts 1.08
Standard Deviation 15.60%

Source: new windowAltaVista Research, LLC

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ETF Documents

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 07/31, EMM was rated against the following numbers of Diversified Emerging Mkts funds over the following time periods: 711 during the last 3 years, 640 during the last 5 years, 420 during the last 10 years. With respect to these Diversified Emerging Mkts funds, EMM received a Morningstar Rating of 3, 3, 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.