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 07/16/24

Inception Date 09/08/21
Total Expense Ratio 0.50%
Net Assets $6.58 million
NAV $10.28
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 07/16/24

Ticker RAYS
Bloomberg Index Ticker SOLRAYS
CUSIP 37960A701
ISIN US37960A7019
Primary Exchange Nasdaq
Shares Outstanding 640,000
Number of Holdings 50
30-Day Median Bid-Ask Spread 0.50%

Distributions As of 07/16/24

30-Day SEC Yield 0.08%
Distribution Frequency Semi-Annually

ETF Prices As of 07/16/24

NAV $10.28 Daily Change $0.28 2.80%
Market Price $10.32 Daily Change $0.38 3.82%

Performance History

As of recent month & quarter-end (06/30/24)
As of recent month & quarter-end (06/30/24)
Fund NAV Market Price Index
1 Year -47.53% -48.00% -47.36%
Since Inception -27.80% -27.94% -27.44%
1 Year -47.53% -48.00% -47.36%
Since Inception -27.80% -27.94% -27.44%
Year-to-Date -26.61% -27.16% -26.50%
1 Month -18.11% -18.74% -18.10%
3 Months -17.55% -18.18% -17.47%
Since Inception -59.98% -60.18% -59.41%
Year-to-Date -26.61% -27.16% -26.50%
1 Month -18.11% -18.74% -18.10%
3 Months -17.55% -18.18% -17.47%
Since Inception -59.98% -60.18% -59.41%

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 07/16/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
9.58 FSLR FIRST SOLAR INC B1HMF22 221.25 2,847 629,898.75
8.69 ENPH ENPHASE ENERGY INC B65SQW4 116.17 4,920 571,556.40
8.25 300274 C2 SUNGROW POWER -A BD5CGB4 9.64 56,240 542,325.99
7.27 NXT NEXTRACKER INC-CL A BR1GTS6 48.09 9,946 478,303.14
6.50 605117 C1 NINGBO DEYE TE-A BP91NG5 12.39 34,520 427,662.14
6.41 601012 C1 LONGI GREEN EN-A BRTL411 1.93 218,360 421,371.53
4.23 RUN SUNRUN INC BYXB1Y8 17.28 16,102 278,242.56
3.69 002129 C2 TCL ZHONGHUAN -A BD5CMT4 1.18 205,100 242,477.22
2.68 968 HK XINYI SOLAR HOLDINGS LTD BGQYNN1 0.49 362,200 176,276.74
2.59 300724 C2 SHENZHEN SC NE-A BKDQ8D3 7.67 22,200 170,323.06
2.46 ECV1 GR ENCAVIS AG-TEND BS3DXX5 18.71 8,637 161,614.88
2.45 300763 C2 GINLONG TECHNO-A BMQBTQ9 8.49 18,950 160,930.43
2.44 ARRY ARRAY TECHNOLOGIES INC BLBLMD5 11.73 13,695 160,642.35
2.43 SEDG SOLAREDGE TECHNO BWC52Q6 30.20 5,301 160,090.20
2.40 002459 C2 JA SOLAR TECHN-A BMVB500 1.43 110,104 157,803.78
2.33 603806 C1 HANGZHOU FIRST-A BYYFJR8 2.06 74,245 153,046.37
1.85 SHLS SHOALS TECHNOL-A BMDJ085 7.06 17,228 121,629.68
1.85 009830 KS HANWHA SOLUTIONS CORP 6407768 18.37 6,620 121,623.53
1.69 300118 C2 RISEN ENERGY CO LTD-A BD5LW24 1.46 76,000 111,218.24
1.62 600732 C1 SHANGHAI AIKO-A BMXTYM7 1.20 88,640 106,374.08
1.59 AY ATLANTICA SUSTAI BLP5YB5 22.04 4,740 104,469.60
1.20 000591 C2 CECEP SOLAR EN-A BD5LQM2 0.59 132,800 78,864.94
1.18 NOVA SUNNOVA ENERGY I BJ9N563 7.49 10,320 77,296.80
1.15 002506 C2 GCL SYSTEM INT-A BD6QVT8 0.26 286,300 75,391.19
0.94 CSIQ CANADIAN SOLAR INC B1GKCH1 16.77 3,667 61,495.59
0.93 300827 C2 SINENG ELECTRIC CO LTD-A BP91MM4 3.56 17,161 61,100.57
0.93 S92 GR SMA SOLAR TECHNOLOGY AG B3B20H2 28.79 2,120 61,026.11
0.84 SLR SM SOLARIA ENERGIA B1YVKJ4 12.05 4,592 55,351.78
0.80 6865 HK FLAT GLASS GROUP CO LTD-H BYQ9774 1.46 36,000 52,561.81
0.75 002865 C2 HAINAN DRINDA -A BLC7SF6 5.07 9,700 49,223.38
0.75 300393 C2 JOLYWOOD SUZHOU BNHPR30 0.76 64,900 49,133.96
0.68 601778 C1 JINKO POWER TE-A BMXTXD1 0.30 148,700 44,459.59
0.67 300080 C2 HENAN YICHENG -A BMVB522 0.38 117,200 44,203.67
0.62 3576 TT UNITED RENEWABLE B284BT3 0.42 96,218 40,697.86
0.58 603105 C1 ZHEJIANG SUNOREN BMF7MP8 1.10 34,400 37,838.23
0.55 AMPS ALTUS POWER INC BPNXP05 4.54 7,891 35,825.14
0.51 6443 TT TSEC CORP BK0S597 0.92 36,477 33,708.75
0.39 002218 C2 SHENZHEN TOPRAYS BNHPLX8 0.38 68,200 25,816.15
0.36 6244 TT MOTECH INDUSTRIES INC 6609445 0.98 23,890 23,395.01
0.34 1407 JP WEST HOLDINGS CORP B0YQ5X1 14.04 1,599 22,443.17
0.33 600537 C1 EGING PHOTOVOL-A BTFRHC9 0.33 65,600 21,682.98
0.32 ESEN TI ESENBOGA ELEKTRI BMHYTB2 0.64 32,758 21,048.57
0.30 SPWR SUNPOWER CORP B59DK93 2.69 7,332 19,723.08
0.29 002623 C2 CHANGZHOU ALMA-A BD6QW17 2.13 9,100 19,370.07
0.29 322000 KS HD HYUNDAI ENERG BG0WKZ2 18.05 1,062 19,166.22
0.28 MAGEN TI MARGUN ENERJI BMVGRP4 0.71 26,008 18,393.52
0.27 688390 C1 GOODWE TECHNOL-A BP91NV0 8.61 2,032 17,496.17
0.25 OTHER PAYABLE & RECEIVABLES 1.00 16,336 16,335.74
0.23 MBTN SW MEYER BURGER TEC BT3MF33 5.94 2,521 14,968.68
0.22 002610 C2 ZHEJIANG AKCOME NEW ENERG BD5LXM1 0.05 280,500 14,234.18
0.18 3856 JP ABALANCE CORP B2416M6 7.89 1,514 11,952.00
0.00 JAPANESE YEN 0.01 3,772 23.78
0.00 CHINESE YUAN RENMINBI 0.14 46 6.30
-0.07 CASH 1.00 -4,514 -4,514.28
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 06/30/24

Sector Weight (%)
Information Technology 55.4
Industrials 33.4
Utilities 8.0
Materials 3.2

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Semiconductors 55.6
Electrical Equipment 25.7
Utilities 10.0
Machinery 5.8
Chemicals 2.9

Source: new windowAltaVista Research, LLC

Country Weight (%)
China 50.5
United States 37.1
Germany 3.6
South Korea 2.5
Britain 1.7
Taiwan 1.6
Spain 0.9
Canada 0.9
Turkey 0.7
Japan 0.6

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 07/16/24

Return on Equity 9.30%
Weighted Avg. Market Cap 7,537 M
2023 2024
Price-to-earnings 14.16 17.56
Price-to-book value 1.70 1.58

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 06/30/24

Versus Beta
S&P 500 1.05
NASDAQ-100 0.79
MSCI EAFE 1.19
MSCI Emg. Mkts 1.03
Standard Deviation 39.00%

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.