RAYS


Solar ETF

Reasons to Consider RAYS

High Growth Potential

Forecasts suggest the global market for solar energy could reach $200bn by 2026, quadruple the market size in 2019.1

Advancing Clean Technologies

Solar is the most abundant energy resource on earth.2 Increased adoption of solar technologies could potentially help address global power insecurity and minimize the adverse environmental impacts of fossil fuel consumption.

Conscious Approach

RAYS incorporates Environmental, Social & Governance (ESG) screens and follows ESG proxy voting guidelines to affect positive change alongside financial returns.

1Facts & Factors, May 2021
2U.S. Department of Energy

Key Information As of 10/02/23

Inception Date 09/08/21
Total Expense Ratio 0.51%
Net Assets $6.72 million
NAV $13.17
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 10/02/23

Ticker RAYS
Bloomberg Index Ticker SOLRAYS
CUSIP 37960A701
ISIN US37960A7019
Primary Exchange Nasdaq
Shares Outstanding 510,000
Number of Holdings 50
30-Day Median Bid-Ask Spread 0.37%

Distributions As of 10/02/23

30-Day SEC Yield 0.20%
Distribution Frequency Semi-Annually

ETF Prices As of 10/02/23

NAV $13.17 Daily Change -$0.29 -2.15%
Market Price $13.10 Daily Change -$0.40 -2.96%

Performance History

As of recent month & quarter-end (09/30/23)
As of recent month & quarter-end (09/30/23)
Fund NAV Market Price Index
1 Year -33.73% -33.43% -33.38%
Since Inception -24.76% -24.65% -24.34%
1 Year -33.73% -33.43% -33.38%
Since Inception -24.76% -24.65% -24.34%
Year-to-Date -34.05% -33.76% -33.78%
1 Month -9.18% -9.64% -9.17%
3 Months -27.05% -27.11% -27.00%
Since Inception -44.35% -44.18% -43.71%
Year-to-Date -34.05% -33.76% -33.78%
1 Month -9.18% -9.64% -9.17%
3 Months -27.05% -27.11% -27.00%
Since Inception -44.35% -44.18% -43.71%

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 10/02/23

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
8.82 601012 C1 LONGI GREEN EN-A BRTL411 3.73 158,960 592,736.25
8.47 FSLR FIRST SOLAR INC B1HMF22 156.34 3,639 568,921.26
8.34 300274 C2 SUNGROW POWER -A BD5CGB4 12.23 45,800 560,358.94
8.11 ENPH ENPHASE ENERGY INC B65SQW4 116.84 4,662 544,708.08
4.59 SEDG SOLAREDGE TECHNO BWC52Q6 122.56 2,518 308,606.08
4.03 002459 C2 JA SOLAR TECHN-A BMVB500 3.50 77,404 270,640.77
3.70 968 HK XINYI SOLAR HOLDINGS LTD BGQYNN1 0.75 332,600 248,837.99
3.36 605117 C1 NINGBO DEYE TE-A BP91NG5 10.59 21,300 225,462.45
3.12 600732 C1 SHANGHAI AIKO-A BMXTYM7 3.05 68,740 209,622.73
3.09 RUN SUNRUN INC BYXB1Y8 11.24 18,460 207,490.40
3.02 603806 C1 HANGZHOU FIRST-A BYYFJR8 3.90 52,032 203,122.48
2.75 300118 C2 RISEN ENERGY CO LTD-A BD5LW24 2.60 71,100 185,040.08
2.72 300763 C2 GINLONG TECHNO-A BMQBTQ9 10.73 17,050 182,969.47
2.66 ARRY ARRAY TECHNOLOGIES INC BLBLMD5 21.36 8,363 178,633.68
2.52 300724 C2 SHENZHEN SC NE-A BKDQ8D3 10.38 16,300 169,217.26
2.27 009830 KS HANWHA SOLUTIONS CORP 6407768 22.05 6,926 152,696.38
1.93 SHLS SHOALS TECHNOL-A BMDJ085 17.14 7,549 129,389.86
1.63 ECV GR ENCAVIS AG 5491966 13.50 8,112 109,547.98
1.61 002506 C2 GCL SYSTEM INT-A BD6QVT8 0.39 275,300 107,998.41
1.49 000591 C2 CECEP SOLAR EN-A BD5LQM2 0.79 126,700 100,273.10
1.45 002610 C2 ZHEJIANG AKCOME NEW ENERG BD5LXM1 0.32 301,400 97,638.45
1.30 MBTN SW MEYER BURGER TEC B5NC0D0 0.36 239,462 87,119.72
1.26 AY ATLANTICA SUSTAI BLP5YB5 17.92 4,730 84,761.60
1.24 688390 C1 GOODWE TECHNOL-A BP91NV0 18.07 4,594 83,007.79
1.23 002865 C2 HAINAN DRINDA -A BLC7SF6 13.09 6,300 82,470.63
1.21 NOVA SUNNOVA ENERGY I BJ9N563 9.68 8,412 81,428.16
1.20 SLR SM SOLARIA ENERGIA B1YVKJ4 14.79 5,456 80,696.00
1.19 CSIQ CANADIAN SOLAR INC B1GKCH1 23.25 3,427 79,677.75
1.03 6865 HK FLAT GLASS GROUP CO LTD-H BYQ9774 2.25 30,800 69,208.62
1.00 300827 C2 SINENG ELECTRIC CO LTD-A BP91MM4 4.12 16,361 67,425.87
0.88 S92 GR SMA SOLAR TECHNOLOGY AG B3B20H2 61.04 971 59,270.09
0.70 3576 TT UNITED RENEWABLE B284BT3 0.46 101,918 46,933.32
0.69 MAGEN TI MARGUN ENERJI BMVGRP4 2.50 18,490 46,210.69
0.67 ESEN TI ESENBOGA ELEKTRI BMHYTB2 4.23 10,581 44,716.32
0.63 300080 C2 HENAN YICHENG -A BMVB522 0.68 62,200 42,594.88
0.61 600537 C1 EGING PHOTOVOL-A BTFRHC9 0.77 53,400 41,240.03
0.58 SPWR SUNPOWER CORP B59DK93 5.62 6,877 38,648.74
0.57 3868 HK XINYI ENERGY HOLDINGS LTD BGSN864 0.21 178,000 37,951.88
0.52 1407 JP WEST HOLDINGS CORP B0YQ5X1 21.09 1,650 34,795.96
0.51 6443 TT TSEC CORP BK0S597 0.89 38,677 34,362.23
0.45 4934 TT TAINERGY TECH CO LTD B61GMJ1 1.02 29,300 29,983.72
0.40 AMPS ALTUS POWER INC BPNXP05 4.80 5,645 27,096.00
0.38 6244 TT MOTECH INDUSTRIES INC 6609445 0.84 30,090 25,380.20
0.37 SOL EMEREN GROUP LTD BYM5JB4 3.21 7,742 24,851.82
0.37 002623 C2 CHANGZHOU ALMA-A BD6QW17 3.42 7,200 24,643.14
0.35 2406 TT GIGASTORAGE CORP 6246961 0.47 50,030 23,271.57
0.28 322000 KS HD HYUNDAI ENERG BG0WKZ2 19.64 968 19,009.93
0.25 MAXN MAXEON SOLAR TECHNOLOGIE BMH1V17 10.73 1,537 16,492.01
0.18 CASH 1.00 12,260 12,259.84
0.15 3856 JP ABALANCE CORP B2416M6 22.02 468 10,306.65
0.15 FTCI FTC SOLAR INC BP09YX2 1.21 8,401 10,165.21
0.00 JAPANESE YEN 0.01 3,772 25.17
-0.03 OTHER PAYABLE & RECEIVABLES 1.00 -2,078 -2,077.84
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 09/30/23

Sector Weight (%)
Information Technology 59.0
Industrials 28.3
Utilities 8.3
Materials 3.2
Consumer Discretionary 1.2

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Semiconductors 30.8
Electrical Products 22.8
Electronic Components 9.6
Alternative Power Generation 8.6
Electronic Equipment/Instruments 8.2
Industrial Machinery 5.3
Trucks/Construction/Farm Machinery 4.4
Engineering & Construction 3.3
Chemicals: Major Diversified 3.2
Electric Utilities 2.6
Industrial Specialties 1.1
Other/Cash 0.1

Source: new windowAltaVista Research, LLC

Country Weight (%)
China 53.0
United States 32.1
Germany 2.6
South Korea 2.5
Taiwan 2.3
Switzerland 1.4
Britain 1.3
Turkey 1.3
Spain 1.2
Canada 1.2
Japan 0.7
Other/Cash 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 10/02/23

Return on Equity 12.70%
Weighted Avg. Market Cap 9,156 M
2022 2023
Price-to-earnings 23.68 16.62
Price-to-book value 2.23 2.02

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 09/30/23

Versus Beta
S&P 500 1.00
NASDAQ-100 0.77
MSCI EAFE 0.98
MSCI Emg. Mkts 0.88
Standard Deviation 37.50%

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.