RAYS


Solar ETF

Reasons to Consider RAYS

High Growth Potential

The clean energy transition is well underway. The global solar energy market was valued at $90bn in 2022, and forecasts suggest it could reach more than $215bn by 2030.1

Advancing Clean Technologies

Solar is the most abundant energy resource on earth.2 Increased solar adoption could help minimize the adverse environmental impacts of fossil fuel consumption.

Unconstrained Approach

Solar energy is a dynamic theme, supporting a long-term structural shift in worldwide energy use. RAYS invests accordingly, with global exposure across multiple sectors and industries.

1Zion Market Research, Oct 2023
2U.S. Department of Energy

Key Information As of 03/27/24

Inception Date 09/08/21
Total Expense Ratio 0.51%
Net Assets $6.68 million
NAV $11.72
Fact Sheet View the document

ETF Summary

The Global X Solar ETF (RAYS) seeks to invest in companies positioned to benefit from the advancement of the global solar technology industry. This includes companies involved in solar power production; the integration of solar into energy systems; and the development/manufacturing of solar-powered generators, engines, batteries, and other technologies related to the utilization of solar as an energy source.

ETF Objective

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

Trading Details As of 03/27/24

Ticker RAYS
Bloomberg Index Ticker SOLRAYS
CUSIP 37960A701
ISIN US37960A7019
Primary Exchange Nasdaq
Shares Outstanding 570,000
Number of Holdings 50
30-Day Median Bid-Ask Spread 0.43%

Distributions As of 03/27/24

30-Day SEC Yield 0.26%
Distribution Frequency Semi-Annually

ETF Prices As of 03/27/24

NAV $11.72 Daily Change $0.18 1.56%
Market Price $11.83 Daily Change $0.27 2.34%

Performance History

As of recent
(12/31/23)
As of recent
(12/31/23)
Fund NAV Market Price Index
1 Year -35.37% -35.13% -35.02%
Since Inception -23.06% -22.99% -22.64%
1 Year -45.09% -44.71% -44.91%
Since Inception -25.75% -25.64% -25.37%
Year-to-Date -35.37% -35.13% -35.02%
1 Month 12.64% 12.61% 12.68%
3 Months -2.01% -2.07% -1.88%
Since Inception -45.46% -45.34% -44.77%
Year-to-Date -12.28% -12.18% -12.29%
1 Month 7.73% 8.40% 7.75%
3 Months -1.20% -1.11% -1.17%
Since Inception -52.16% -51.99% -51.56%

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 03/27/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
10.82 ENPH ENPHASE ENERGY INC B65SQW4 119.80 6,035 722,993.00
9.52 300274 C2 SUNGROW POWER -A BD5CGB4 14.07 45,200 635,937.95
8.87 FSLR FIRST SOLAR INC B1HMF22 167.45 3,541 592,940.45
6.74 601012 C1 LONGI GREEN EN-A BRTL411 2.69 167,260 450,455.92
5.31 605117 C1 NINGBO DEYE TE-A BP91NG5 13.25 26,800 355,082.59
4.14 SEDG SOLAREDGE TECHNO BWC52Q6 69.69 3,971 276,738.99
3.63 002459 C2 JA SOLAR TECHN-A BMVB500 2.38 101,704 242,224.14
3.52 968 HK XINYI SOLAR HOLDINGS LTD BGQYNN1 0.77 307,000 235,043.07
2.99 NXT NEXTRACKER INC-CL A BR1GTS6 58.02 3,439 199,530.78
2.89 RUN SUNRUN INC BYXB1Y8 13.10 14,737 193,054.70
2.87 ARRY ARRAY TECHNOLOGIES INC BLBLMD5 15.10 12,719 192,056.90
2.73 603806 C1 HANGZHOU FIRST-A BYYFJR8 3.80 47,932 182,070.85
2.52 300724 C2 SHENZHEN SC NE-A BKDQ8D3 8.22 20,500 168,567.08
2.52 600732 C1 SHANGHAI AIKO-A BMXTYM7 1.89 89,140 168,440.19
2.18 300763 C2 GINLONG TECHNO-A BMQBTQ9 7.90 18,450 145,709.09
2.16 SHLS SHOALS TECHNOL-A BMDJ085 11.76 12,291 144,542.16
2.09 ECV GR ENCAVIS AG 5491966 18.24 7,663 139,799.15
2.08 009830 KS HANWHA SOLUTIONS CORP 6407768 20.09 6,910 138,840.41
1.93 300118 C2 RISEN ENERGY CO LTD-A BD5LW24 2.01 64,200 128,834.46
1.75 S92 GR SMA SOLAR TECHNOLOGY AG B3B20H2 61.30 1,911 117,140.95
1.39 000591 C2 CECEP SOLAR EN-A BD5LQM2 0.72 128,900 92,560.63
1.38 002506 C2 GCL SYSTEM INT-A BD6QVT8 0.34 267,100 92,034.26
1.37 AY ATLANTICA SUSTAI BLP5YB5 18.18 5,050 91,809.00
1.27 002865 C2 HAINAN DRINDA -A BLC7SF6 9.23 9,200 84,918.79
1.14 CSIQ CANADIAN SOLAR INC B1GKCH1 19.40 3,911 75,873.40
1.12 6865 HK FLAT GLASS GROUP CO LTD-H BYQ9774 2.52 29,800 75,035.15
1.10 002610 C2 ZHEJIANG AKCOME NEW ENERG BD5LXM1 0.26 280,500 73,455.13
0.92 300080 C2 HENAN YICHENG -A BMVB522 0.56 108,400 61,106.62
0.74 MBTN SW MEYER BURGER TEC B5NC0D0 0.04 1,410,724 49,378.85
0.73 SLR SM SOLARIA ENERGIA B1YVKJ4 11.05 4,404 48,678.12
0.69 NOVA SUNNOVA ENERGY I BJ9N563 5.97 7,755 46,297.35
0.69 300827 C2 SINENG ELECTRIC CO LTD-A BP91MM4 3.48 13,261 46,095.34
0.55 3576 TT UNITED RENEWABLE B284BT3 0.35 103,718 36,458.80
0.54 600537 C1 EGING PHOTOVOL-A BTFRHC9 0.58 62,900 36,324.56
0.49 6443 TT TSEC CORP BK0S597 0.90 36,277 32,475.19
0.47 AMPS ALTUS POWER INC BPNXP05 4.77 6,537 31,181.49
0.46 1407 JP WEST HOLDINGS CORP B0YQ5X1 18.76 1,624 30,468.44
0.42 002218 C2 SHENZHEN TOPRAYS BNHPLX8 0.51 54,900 27,921.22
0.38 688390 C1 GOODWE TECHNOL-A BP91NV0 13.63 1,841 25,089.84
0.36 CASH 1.00 24,218 24,217.56
0.33 6244 TT MOTECH INDUSTRIES INC 6609445 0.84 26,090 22,010.69
0.29 002623 C2 CHANGZHOU ALMA-A BD6QW17 2.98 6,600 19,648.68
0.29 3868 HK XINYI ENERGY HOLDINGS LTD BGSN864 0.14 141,000 19,643.91
0.29 SPWR SUNPOWER CORP B59DK93 2.87 6,635 19,042.45
0.28 4934 TT TAINERGY TECH CO LTD B61GMJ1 0.79 23,700 18,809.52
0.28 322000 KS HD HYUNDAI ENERG BG0WKZ2 16.76 1,098 18,398.37
0.22 ESEN TI ESENBOGA ELEKTRI BMHYTB2 0.61 24,235 14,756.91
0.22 MAGEN TI MARGUN ENERJI BMVGRP4 0.48 30,473 14,664.68
0.20 300125 C2 LINGDA GROUP CO LTD-A BNHPQR7 1.01 13,100 13,216.55
0.19 MAXN MAXEON SOLAR TECHNOLOGIE BMH1V17 3.27 3,930 12,851.10
0.19 3856 JP ABALANCE CORP B2416M6 16.94 746 12,640.73
0.00 JAPANESE YEN 0.01 3,772 24.92
-0.01 OTHER PAYABLE & RECEIVABLES 1.00 -885 -885.40
-0.22 SWISS FRANC 1.10 -13,220 -14,596.97
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 02/29/24

Sector Weight (%)
Information Technology 60.9
Industrials 28.0
Utilities 6.3
Materials 3.4
Consumer Discretionary 1.4

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Semiconductors 33.6
Electrical Products 22.2
Electronic Components 9.5
Electronic Equipment/Instruments 7.4
Alternative Power Generation 7.4
Industrial Machinery 5.8
Trucks/Construction/Farm Machinery 4.5
Chemicals: Major Diversified 3.6
Engineering & Construction 3.2
Electric Utilities 1.9
Industrial Specialties 1.0

Source: new windowAltaVista Research, LLC

Country Weight (%)
China 50.9
United States 36.7
Germany 3.2
South Korea 2.4
Taiwan 1.7
Britain 1.3
Canada 1.2
Spain 0.8
Japan 0.6
Turkey 0.5
Switzerland 0.3
Other 0.4

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 03/27/24

Return on Equity 14.00%
Weighted Avg. Market Cap 8,957 M
2023 2024
Price-to-earnings 17.65 13.98
Price-to-book value 2.08 1.85

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 02/29/24

Versus Beta
S&P 500 1.04
NASDAQ-100 0.81
MSCI EAFE 1.01
MSCI Emg. Mkts 0.91
Standard Deviation 37.20%

Source: new windowAltaVista Research, LLC

ETF Research

Investing involves risk, including the possible loss of principal. The investable universe of companies in which RAYS may invest may be limited. Narrowly focused investments will be more susceptible to factors affecting that sector and subject to more volatility. Solar companies typically face intense competition, short product lifecycles and potentially rapid product obsolescence. These companies may be significantly affected by fluctuations in energy prices (both solar and conventional energy) and in the supply and demand of renewable energy, tax incentives, subsidies and other governmental regulations and policies. Solar companies may be adversely affected by commodity price volatility, changes in exchange rates, imposition of import controls, availability of certain inputs and materials required for production, depletion of resources, technological developments and labor relations. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, 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. RAYS 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. 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 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.