GURU

Guru Index ETF

Fund Summary

The Global X Guru® Index ETF (GURU) seeks to generate alpha over the broad market by investing in highest conviction ideas from a select pool of hedge funds.

Fund Objective

The Global X Guru® Index ETF (GURU) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Guru Index.

Why GURU?

Access Ideas

GURU allows everyday investors to access the high conviction investments of some of the largest, most sophisticated hedge funds in the world.

Alpha Potential

By investing alongside hedge funds, GURU seeks to benefit from their top tier research and knowledge to outperform US equity benchmarks such as the S&P 500.

Cost Efficiency

Traditionally, investing with a hedge fund requires paying an ongoing 2% management fee and 20% of profits. GURU has an expense ratio of 0.75%, potentially allowing for greater cost efficiency, while providing access to hedge fund ideas.

Fund Details As of 2/18/20

Key Facts

Ticker	GURU
Inception Date	6/4/12
CUSIP	37950E341
ISIN	US37950E3412
Bloomberg Index Ticker	GURU
Primary Exchange	NYSE Arca

Stats & Fees

Net Assets	$61,355,874
NAV	$37.19
Shares Outstanding	1,650,000
Total Expense Ratio	0.75%

Distributions

30-Day SEC Yield	0.32%
Distribution Frequency	Semi-Annually

Fund Documents

Fund Research

Guru’s November 2019 Rebalance Report

NAV			Price
Net Asset Value	$37.19		Closing Price	$37.19
Daily Change	-$0.01	-0.04%	Daily Change	-$0.01	-0.03%

Cumulative % Data as of month end (1/31/20)	Fund NAV	Closing Price	Index
1 Month	-1.08%	-1.08%	-1.04%
3 Months	5.00%	4.97%	5.14%
6 Months	4.60%	4.78%	4.78%
Since Inception	160.38%	160.30%	168.44%

Avg Annualized % Data as of month end (1/31/20)	Fund NAV	Closing Price	Index
1 Year	16.20%	16.13%	16.54%
3 Years	13.25%	13.28%	13.62%
5 Years	8.10%	8.09%	8.40%
Since Inception	13.32%	13.31%	13.75%

Avg Annualized % Data as of quarter end (12/31/19)	Fund NAV	Closing Price	Index
1 Year	31.81%	33.62%	32.05%
3 Years	14.98%	15.00%	15.32%
5 Years	7.07%	7.07%	7.38%
Since Inception	13.63%	13.63%	14.07%

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.

Fund Characteristics As of 2/18/20

Return on Equity	13.50%
Average Market Cap	$131,617.00 M
	2019	2020
Price-to-earnings	21.99	19.41
Price-to-book value	2.76	2.49

Source: AltaVista Research, LLC

Fund Risk Stats As of 2/18/20

Versus	Beta
S&P 500	1.10
MSCI EAFE	1.01
MSCI Emg. Mkts	0.68
Standard Deviation	14.00%

Source: AltaVista Research, LLC

Net Assets %	Name	Market Price ($)	Shares Held	Market Value ($)
2.21	NETFLIX INC	387.78	3,499	1,356,842.22
2.14	ADOBE INC	378.85	3,470	1,314,609.50
2.12	JD.COM INC-ADR	42.32	30,768	1,302,101.76
2.09	MICROSOFT CORP	186.72	6,884	1,285,380.48
2.09	AMAZON.COM INC	2,155.67	594	1,280,467.98
2.07	SNAP INC - A	17.17	74,026	1,271,026.42
2.03	DAVITA INC	85.40	14,578	1,244,961.20
2.00	AMERICAN TOWER CORP	252.93	4,855	1,227,975.15
2.00	ALIBABA GRP-ADR	220.52	5,565	1,227,193.80
1.98	NORTONLIFELOCK INC	20.53	59,079	1,212,891.87
Holdings are subject to change. Cash, where shown, includes other assets and liabilities, such as payables and receivables.

Premium Discount Chart As of 2/18/20

NAV	$37.19
Mid-Point	$37.19
Premium/Discount	$0.00

Current Data As of 2/18/20

	% oF Days	# oF Days
-0.5% to 0.0%	48.57%	17.00
0.0% to 0.50%	42.86%	15.00
Premium	15
NAV	0
Discount	17
Greatest Premium	0.21%
Greatest Discount	-0.06%

Premium Discount / Frequency As of 2/18/20

View Chart Explanation

Download Chart Data (.CSV)

How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

Investing involves risk, including the possible loss of principal. The 13F filings used to select the securities in GURU’s Underlying Index are filed by each hedge fund approximately 45 days after the end of each calendar quarter. Therefore a given hedge fund may have already sold its position by the time of the 13F filing. The Fund invests in small and mid-capitalization companies, which have greater volatility and less financial resources than large-capitalization companies. 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.

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. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns 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.

High short-term performance of the Fund is unusual and investors should not expect such performance to be repeated.

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 Solactive AG, nor does Solactive AG 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 Solactive AG.