GREK


MSCI Greece ETF

Reasons to Consider GREK

Growth Potential

Following a strong rebound from the pandemic, Greece’s GDP grew at a rate exceeding 5% in 2022. It is expected to continue annual rates of more than 1.5% growth in 2023-2026.1

Targeted Exposure

The ETF targets exposure to a single country.

Unique Offering

GREK is the first and only ETF to directly target Greece.

1Statista, Nov 2022

Key Information As of 02/27/24

Inception Date 12/07/11
Total Expense Ratio 0.57%
Net Assets $192.86 million
NAV $40.30
Fact Sheet View the document

ETF Summary

The Global X MSCI Greece ETF (GREK) invests in among the largest and most liquid companies in Greece.

ETF Objective

The Global X MSCI Greece ETF (GREK) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Greece Select 25/50 Index.

Trading Details As of 02/26/24

Ticker GREK
Bloomberg Index Ticker M1CXGXA
CUSIP 37954Y319
ISIN US37954Y3190
Primary Exchange NYSE Arca
Shares Outstanding 4,785,644
Number of Holdings 26
30-Day Median Bid-Ask Spread 0.43%

Distributions As of 02/27/24

30-Day SEC Yield 2.05%
Distribution Frequency Semi-Annually

ETF Prices As of 02/27/24

NAV $40.30 Daily Change -$0.04 -0.10%
Market Price $40.24 Daily Change -$0.01 -0.02%

Performance History

As of recent
(12/31/23)
As of recent
(12/31/23)
Fund NAV Market Price Index
1 Year 43.51% 42.73% 44.60%
3 Years 16.01% 16.22% 16.65%
5 Years 15.12% 15.14% 15.85%
10 Years -3.58% -3.78% -2.88%
Since Inception 0.16% 0.12% 0.98%
1 Year 33.58% 31.44% 34.57%
3 Years 21.48% 21.90% 22.15%
5 Years 15.38% 15.01% 16.01%
10 Years -2.86% -2.98% -2.18%
Since Inception 0.59% 0.53% 1.41%
Year-to-Date 43.51% 42.73% 44.60%
1 Month 1.69% 1.07% 1.76%
3 Months 12.67% 13.75% 12.87%
Since Inception 1.95% 1.41% 12.49%
Year-to-Date 5.32% 5.16% 5.37%
1 Month 5.32% 5.16% 5.37%
3 Months 18.34% 18.09% 18.52%
Since Inception 7.37% 6.64% 18.53%

The Fund's name, investment objective and investment strategies changed effective March 1, 2016. Fund performance prior to March 1, 2016 reflects the investment objective and strategies of the Fund when it was the Global X FTSE Greece 20 ETF, which tracked the FTSE/ATEHX Custom Capped Index. Therefore the Hybrid Greece Index (noted as "Index" above in the chart) consists of the FTSE/ATHEX Custom Capped Index from inception through February 29, 2016 and then the MSCI All Greece Select 25/50 Index thereafter.

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 02/27/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
13.70 ETE GA NATIONAL BANK OF GREECE BG087C6 7.74 3,413,357 26,415,812.94
12.32 EUROB GA EUROBANK ERGASIA BYZ43T4 2.08 11,426,254 23,761,570.92
9.49 ALPHA GA ALPHA SERVICES A BZ1MXR7 1.86 9,823,460 18,307,827.13
8.97 MYTIL GA MYTILINEOS S.A. 5898664 39.36 439,737 17,306,508.10
5.05 TPEIR GA Piraeus Financial BNC0DB0 4.22 2,311,119 9,747,600.61
4.67 MOH GA MOTOR OIL (HELLAS) SA 5996234 28.79 312,498 8,996,991.77
4.59 PPC GA PUBLIC POWER CORP 7268298 12.83 690,192 8,857,350.44
4.58 OPAP GA OPAP SA 7107250 18.33 481,503 8,827,441.83
4.14 HTO GA HELLENIC TELECOM 5051605 14.59 547,781 7,992,422.08
4.05 BELA GA JUMBO SA 7243530 29.33 266,400 7,814,299.82
3.52 TITC GA TITAN CEMENT INT BJ8PD99 28.31 239,789 6,789,205.06
3.05 ELPE GA HELLENiQ ENERGY 5475658 8.94 657,835 5,880,216.96
2.95 TENERGY GA TERNA ENERGY SA B28XVV2 17.95 317,104 5,693,100.90
2.84 GEKTERNA GA GEK TERNA HOLDIN 4421704 15.73 347,567 5,467,083.41
2.05 TNP TSAKOS ENERGY NA BMX5PY4 23.71 166,661 3,951,532.31
1.96 LAMDA GA LAMDA DEVELOPMENT SA 4248947 7.39 509,984 3,770,262.37
1.86 AEGN GA AEGEAN AIRLINES B1ZBHG9 13.28 269,637 3,580,222.90
1.55 EXAE GA HELLENIC EXCHANG 4108278 5.83 512,695 2,986,637.61
1.52 SAR GA SARANTIS SA 7124958 10.18 287,210 2,922,480.07
1.49 ELLAKTOR GA ELLAKTOR SA 4205351 2.95 974,877 2,876,523.26
1.46 ADMIE GA HOLDING CO ADMIE IPTO SA BYW5KK0 2.50 1,129,328 2,823,840.66
1.42 CPLP CAPITAL PRODUCT BHHMZ24 17.04 160,469 2,734,391.76
1.41 OTOEL GA AUTOHELLAS SA BDZTGG0 14.56 186,776 2,719,084.78
1.30 EYDAP GA EYDAP WATER 5860191 6.13 407,688 2,498,765.72
0.12 CASH 1.00 226,625 226,625.04
0.00 EURO 1.08 4,687 5,084.74
0.00 FFGRP GA FF GROUP B681D63 0.00 452,712 4.91
0.00 FLLIY FOLLI FOLLIE-ADR B9N6VK4 0.00 198,300 1.98
-0.05 OTHER PAYABLE & RECEIVABLES 1.00 -92,032 -92,032.11
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 01/31/24

Sector Weight (%)
Financials 43.0
Industrials 17.6
Utilities 10.3
Consumer Discretionary 9.7
Energy 8.8
Communication Services 4.0
Materials 3.3
Real Estate 2.0
Consumer Staples 1.4

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Regional Banks 28.0
Major Banks 14.6
Other Metals/Minerals 10.1
Oil Refining/Marketing 7.7
Electric Utilities 6.7
Specialty Stores 5.6
Casinos/Gaming 4.7
Engineering & Construction 4.4
Specialty Telecommunications 4.2
Alternative Power Generation 2.9
Marine Shipping 2.3
Other 8.8

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 02/26/24

Return on Equity 13.30%
Weighted Avg. Market Cap 4,333 M
2023 2024
Price-to-earnings 7.00 7.46
Price-to-book value 1.04 0.95

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/24

Versus Beta
S&P 500 0.86
NASDAQ-100 0.53
MSCI EAFE 0.95
MSCI Emg. Mkts 0.76
Standard Deviation 23.50%

Source: new windowAltaVista Research, LLC

ETF Research

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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. Securities focusing on a single country may be subject to higher volatility. Greece’s ability to repay its sovereign debt is in question, and the possibility of default is not unlikely. GREK is non-diversified.

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 October 15, 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 October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. 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.