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 02/27/24

Inception Date 09/08/21
Total Expense Ratio 0.51%
Net Assets $6.15 million
NAV $11.39
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 02/27/24

Ticker RAYS
Bloomberg Index Ticker SOLRAYS
CUSIP 37960A701
ISIN US37960A7019
Primary Exchange Nasdaq
Shares Outstanding 540,000
Number of Holdings 50
30-Day Median Bid-Ask Spread 0.46%

Distributions As of 02/27/24

30-Day SEC Yield 0.31%
Distribution Frequency Semi-Annually

ETF Prices As of 02/27/24

NAV $11.39 Daily Change $0.19 1.70%
Market Price $11.40 Daily Change $0.19 1.69%

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 -53.10% -53.56% -52.89%
Since Inception -28.72% -28.81% -28.36%
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 -18.57% -18.99% -18.59%
1 Month -18.57% -18.99% -18.59%
3 Months -6.12% -6.87% -6.00%
Since Inception -55.59% -55.72% -55.04%

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 02/27/24

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
11.30 ENPH ENPHASE ENERGY INC B65SQW4 121.11 5,735 694,565.85
8.13 300274 C2 SUNGROW POWER -A BD5CGB4 11.66 42,900 500,114.82
7.94 FSLR FIRST SOLAR INC B1HMF22 144.99 3,365 487,891.35
7.52 601012 C1 LONGI GREEN EN-A BRTL411 2.91 158,860 462,599.58
4.66 605117 C1 NINGBO DEYE TE-A BP91NG5 11.23 25,500 286,415.54
4.26 SEDG SOLAREDGE TECHNO BWC52Q6 69.34 3,775 261,758.50
4.07 002459 C2 JA SOLAR TECHN-A BMVB500 2.59 96,704 250,223.13
3.19 NXT NEXTRACKER INC-CL A BR1GTS6 60.26 3,259 196,387.34
2.91 SHLS SHOALS TECHNOL-A BMDJ085 15.39 11,643 179,185.77
2.91 600732 C1 SHANGHAI AIKO-A BMXTYM7 2.11 84,840 179,055.10
2.88 603806 C1 HANGZHOU FIRST-A BYYFJR8 3.89 45,532 176,911.57
2.82 300724 C2 SHENZHEN SC NE-A BKDQ8D3 8.84 19,600 173,318.08
2.71 RUN SUNRUN INC BYXB1Y8 11.88 14,010 166,438.80
2.67 ARRY ARRAY TECHNOLOGIES INC BLBLMD5 13.64 12,050 164,362.00
2.58 300763 C2 GINLONG TECHNO-A BMQBTQ9 9.02 17,550 158,305.43
2.42 968 HK XINYI SOLAR HOLDINGS LTD BGQYNN1 0.51 290,800 148,656.51
2.18 009830 KS HANWHA SOLUTIONS CORP 6407768 20.51 6,547 134,289.87
2.16 300118 C2 RISEN ENERGY CO LTD-A BD5LW24 2.18 60,900 132,836.49
1.60 S92 GR SMA SOLAR TECHNOLOGY AG B3B20H2 54.51 1,809 98,610.64
1.51 002506 C2 GCL SYSTEM INT-A BD6QVT8 0.37 253,000 92,618.09
1.48 000591 C2 CECEP SOLAR EN-A BD5LQM2 0.75 122,000 91,015.11
1.45 ECV GR ENCAVIS AG 5491966 12.25 7,258 88,891.47
1.40 AY ATLANTICA SUSTAI BLP5YB5 18.01 4,783 86,141.83
1.35 002865 C2 HAINAN DRINDA -A BLC7SF6 9.32 8,900 82,908.94
1.30 CSIQ CANADIAN SOLAR INC B1GKCH1 21.60 3,704 80,006.40
1.21 002610 C2 ZHEJIANG AKCOME NEW ENERG BD5LXM1 0.28 265,800 74,452.23
1.00 300080 C2 HENAN YICHENG -A BMVB522 0.60 102,700 61,663.72
0.85 SLR SM SOLARIA ENERGIA B1YVKJ4 12.48 4,173 52,081.58
0.84 NOVA SUNNOVA ENERGY I BJ9N563 7.05 7,347 51,796.35
0.80 6865 HK FLAT GLASS GROUP CO LTD-H BYQ9774 1.74 28,300 49,332.18
0.71 300827 C2 SINENG ELECTRIC CO LTD-A BP91MM4 3.44 12,661 43,505.15
0.68 AMPS ALTUS POWER INC BPNXP05 6.73 6,192 41,672.16
0.61 3576 TT UNITED RENEWABLE B284BT3 0.38 98,318 37,499.82
0.61 600537 C1 EGING PHOTOVOL-A BTFRHC9 0.63 59,600 37,438.28
0.49 1407 JP WEST HOLDINGS CORP B0YQ5X1 19.70 1,537 30,285.31
0.48 6443 TT TSEC CORP BK0S597 0.86 34,477 29,682.98
0.46 002218 C2 SHENZHEN TOPRAYS BNHPLX8 0.54 51,900 28,067.48
0.44 688390 C1 GOODWE TECHNOL-A BP91NV0 14.61 1,841 26,904.48
0.34 SPWR SUNPOWER CORP B59DK93 3.28 6,284 20,611.52
0.33 6244 TT MOTECH INDUSTRIES INC 6609445 0.82 24,590 20,197.84
0.32 002623 C2 CHANGZHOU ALMA-A BD6QW17 3.08 6,300 19,420.10
0.32 MBTN SW MEYER BURGER TEC B5NC0D0 0.10 202,463 19,388.55
0.31 3868 HK XINYI ENERGY HOLDINGS LTD BGSN864 0.14 133,500 19,108.60
0.30 4934 TT TAINERGY TECH CO LTD B61GMJ1 0.81 22,500 18,231.89
0.30 322000 KS HD HYUNDAI ENERG BG0WKZ2 17.51 1,041 18,224.05
0.27 ESEN TI ESENBOGA ELEKTRI BMHYTB2 0.73 22,948 16,649.90
0.25 MAXN MAXEON SOLAR TECHNOLOGIE BMH1V17 4.13 3,720 15,363.60
0.25 300125 C2 LINGDA GROUP CO LTD-A BNHPQR7 1.21 12,500 15,166.64
0.24 MAGEN TI MARGUN ENERJI BMVGRP4 0.51 28,853 14,820.58
0.16 3856 JP ABALANCE CORP B2416M6 13.94 707 9,855.93
0.05 CASH 1.00 3,284 3,283.81
0.00 JAPANESE YEN 0.01 3,772 25.08
0.00 OTHER PAYABLE & RECEIVABLES 1.00 2 2.37
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 01/31/24

Sector Weight (%)
Information Technology 58.6
Industrials 28.4
Utilities 7.6
Materials 4.2
Consumer Discretionary 1.2

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Semiconductors 31.7
Electrical Products 22.6
Electronic Components 9.4
Alternative Power Generation 9.0
Electronic Equipment/Instruments 6.9
Industrial Machinery 5.4
Trucks/Construction/Farm Machinery 4.4
Chemicals: Major Diversified 4.4
Engineering & Construction 2.7
Electric Utilities 2.3
Industrial Specialties 0.9
Other 0.3

Source: new windowAltaVista Research, LLC

Country Weight (%)
China 47.8
United States 37.6
Germany 3.4
South Korea 3.3
Taiwan 1.9
Britain 1.6
Canada 1.4
Spain 1.0
Japan 0.8
Switzerland 0.5
Turkey 0.5
Other 0.2

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 02/27/24

Return on Equity 14.40%
Weighted Avg. Market Cap 7,722 M
2023 2024
Price-to-earnings 19.79 13.29
Price-to-book value 2.03 1.81

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 01/31/24

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.