MSCI Portugal ETF

Fund Summary

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

Fund Objective

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


Efficient Access

Efficient access to a broad basket of Portuguese securities.

Targeted Exposure

The fund targets exposure to a single country.

Fund Details As of 10/18/19

Key Facts

Ticker PGAL
Inception Date 11/12/13
CUSIP 37950E192
ISIN US37950E1929
Bloomberg Index Ticker M1CXGXE
Primary Exchange NYSE Arca

Stats & Fees

Net Assets $21,670,526
NAV $10.32
Shares Outstanding 2,100,000
Total Expense Ratio 0.57%


30-Day SEC Yield 4.27%
Distribution Frequency Semi-Annually

Fund Prices As of 10/18/19

NAV Price
Net Asset Value $10.32 Closing Price $10.27
Daily Change -$0.01 -0.12% Daily Change -$0.01 -0.10%

Performance History

Cumulative %

Data as of month end (9/30/19)

Fund NAV Closing Price Index
1 Month 2.43% 1.92% 2.42%
3 Months -3.89% -3.81% -3.83%
6 Months -3.85% -3.87% -4.07%
Since Inception -16.78% -16.93% -16.20%

Avg Annualized %

Data as of month end (9/30/19)

Fund NAV Closing Price Index
1 Year -11.02% -10.32% -11.02%
3 Years 5.63% 5.75% 5.62%
5 Years -2.09% -2.03% -2.07%
Since Inception -3.07% -3.10% -2.96%

Avg Annualized %

Data as of quarter end (9/30/19)

Fund NAV Closing Price Index
1 Year -11.02% -10.32% -11.02%
3 Years 5.63% 5.75% 5.62%
5 Years -2.09% -2.03% -2.07%
Since Inception -3.07% -3.10% -2.96%

The Fund's name, investment objective and investment strategies changed effective December 6, 2016. Index performance prior to December 6, 2016, will reflect the investment objective and strategies of the prior when it was the FTSE Portugal 20 Index. The Hybrid Portugal Index (noted as "Index" above in the chart) consists of the FTSE Portugal 20 Index from the inception of the Fund through December 5, 2016, and the MSCI All Portugal Plus 25/50 Index going forward.

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 10/17/19

Return on Equity 10.50%
Average Market Cap $3,367.00 M
2018 2019
Price-to-earnings 13.51 13.76
Price-to-book value 1.47 1.42

Source: AltaVista Research, LLC

Fund Risk Stats As of 10/17/19

Versus Beta
S&P 500 0.60
MSCI Emg. Mkts 0.72
Standard Deviation 14.80%

Source: AltaVista Research, LLC

Top 10 Holdings

As of 10/18/19
Net Assets % Name Market Price ($) Shares Held Market Value ($)
22.78 GALP ENERGIA SGPS SA 15.07 327,542 4,936,608.99
22.48 EDP 3.92 1,242,203 4,870,787.40
4.83 SONAE 1.01 1,038,072 1,047,080.01
4.81 NAVIGATOR CO SA/THE 3.65 286,088 1,043,379.39
4.44 JERONIMO MARTINS 16.67 57,682 961,570.14
4.42 EDP RENOVAVEIS SA 10.82 88,589 958,215.00
4.40 REN-REDE ENERGET 2.90 328,853 952,443.22
4.18 CORTICEIRA AMORIM SA 10.97 82,523 905,472.31
4.16 BANCO COM PORT-R 0.22 4,161,374 900,686.15
4.08 NOS SGPS 5.85 150,915 883,423.74
Holdings are subject to change. Cash, where shown, includes other assets and liabilities, such as payables and receivables.

Investing involves risk, including the possible loss of principal. 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. Securities focusing on a single country may be subject to higher volatility. PGAL 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. 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 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.