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 03/23/23

Inception Date 09/08/21
Total Expense Ratio 0.50%
Net Assets $4.40 million
NAV $20.00
Fact Sheet

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 03/23/23

Ticker RAYS
Bloomberg Index Ticker SOLRAYS
CUSIP 37960A701
ISIN US37960A7019
Primary Exchange Nasdaq
Shares Outstanding 220,000
Number of Holdings 47
30-Day Median Bid-Ask Spread 0.33%

Distributions As of 03/23/23

30-Day SEC Yield -0.05%
Distribution Frequency Semi-Annually

ETF Prices As of 03/23/23

NAV $20.00 Daily Change $0.19 0.96%
Market Price $19.95 Daily Change $0.17 0.86%

Performance History

As of recent
(12/31/22)
As of recent
(12/31/22)
Fund NAV Market Price Index
1 Year -12.44% -13.31% -11.95%
Since Inception -12.13% -12.23% -11.65%
1 Year -3.26% -5.06% -2.57%
Since Inception -8.93% -9.14% -8.36%
Year-to-Date -12.44% -13.31% -11.95%
1 Month -7.48% -8.28% -7.44%
3 Months 0.49% 0.49% 0.59%
Since Inception -15.61% -15.73% -15.00%
Year-to-Date 3.23% 3.04% 3.45%
1 Month -7.99% -8.93% -7.86%
3 Months -4.49% -5.49% -4.25%
Since Inception -12.88% -13.17% -12.07%

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 03/23/23

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
12.49 FSLR FIRST SOLAR INC B1HMF22 210.19 2,615 549,646.85
9.11 002459 C2 JA SOLAR TECHN-A BMVB500 8.04 49,860 400,685.20
8.67 300274 C2 SUNGROW POWER -A BD5CGB4 14.67 26,000 381,419.03
8.27 601012 C1 LONGI GREEN EN-A BRTL411 5.80 62,760 363,763.37
6.24 ENPH ENPHASE ENERGY INC B65SQW4 204.66 1,341 274,449.06
5.36 002129 C2 TCL ZHONGHUAN -A BD5CMT4 6.59 35,800 235,755.39
5.02 SEDG SOLAREDGE TECHNO BWC52Q6 291.54 757 220,695.78
4.48 688599 C1 TRINA SOLAR CO LTD-A BP91P03 7.63 25,847 197,094.92
3.28 603806 C1 HANGZHOU FIRST-A BYYFJR8 8.55 16,880 144,342.93
3.23 968 HK XINYI SOLAR HOLDINGS LTD BGQYNN1 1.14 124,100 141,969.50
2.90 300724 C2 SHENZHEN SC NE-A BKDQ8D3 16.14 7,900 127,481.97
2.89 300763 C2 GINLONG TECHNO-A BMQBTQ9 19.69 6,450 127,019.58
2.19 009830 KS HANWHA SOLUTIONS CORP 6407768 30.91 3,111 96,176.10
1.94 RUN SUNRUN INC BYXB1Y8 17.63 4,842 85,364.46
1.76 688390 C1 GOODWE TECHNOL-A BP91NV0 41.06 1,883 77,315.52
1.73 ARRY ARRAY TECHNOLOGIES INC BLBLMD5 19.81 3,838 76,030.78
1.38 ECV GR ENCAVIS AG 5491966 18.05 3,364 60,721.03
1.35 300118 C2 RISEN ENERGY CO LTD-A BD5LW24 4.11 14,500 59,581.32
1.30 AY ATLANTICA SUSTAI BLP5YB5 26.92 2,120 57,070.40
1.30 CSIQ CANADIAN SOLAR INC B1GKCH1 38.45 1,484 57,059.80
1.26 SHLS SHOALS TECHNOL-A BMDJ085 21.41 2,589 55,430.49
1.25 002610 C2 JIANGSU AKCOME-A BD5LXM1 0.43 127,100 55,190.75
1.24 MBTN SW MEYER BURGER TEC B5NC0D0 0.63 86,132 54,621.21
0.93 300827 C2 SINENG ELECTRIC CO LTD-A BP91MM4 8.49 4,840 41,082.12
0.88 SLR SM SOLARIA ENERGIA B1YVKJ4 17.78 2,167 38,536.72
0.81 000591 C2 CECEP SOLAR EN-A BD5LQM2 1.02 34,900 35,429.13
0.78 6865 HK FLAT GLASS GROUP CO LTD-H BYQ9774 2.57 13,400 34,482.85
0.77 NOVA SUNNOVA ENERGY I BJ9N563 13.23 2,547 33,696.81
0.62 3576 TT UNITED RENEWABLE B284BT3 0.69 39,918 27,475.26
0.62 3856 JP ABALANCE CORP B2416M6 56.80 478 27,148.52
0.61 SPWR SUNPOWER CORP B59DK93 12.60 2,116 26,661.60
0.55 S92 GR SMA SOLAR TECHNOLOGY AG B3B20H2 84.56 287 24,269.06
0.45 6244 TT MOTECH INDUSTRIES INC 6609445 1.20 16,690 19,952.15
0.44 300080 C2 HENAN YICHENG -A BMVB522 0.83 23,000 19,198.58
0.43 MAXN MAXEON SOLAR TECHNOLOGIE BMH1V17 24.57 766 18,820.62
0.40 4934 TT TAINERGY TECH CO LTD B61GMJ1 1.04 16,900 17,615.18
0.39 6443 TT TSEC CORP BK0S597 1.29 13,377 17,313.23
0.37 2406 TT GIGASTORAGE CORP 6246961 0.67 24,030 16,183.55
0.34 1407 JP WEST HOLDINGS CORP B0YQ5X1 24.08 622 14,980.80
0.32 3868 HK XINYI ENERGY HOLDINGS LTD BGSN864 0.31 46,500 14,276.34
0.31 FTCI FTC SOLAR INC BP09YX2 2.14 6,325 13,535.50
0.30 ESEN TI ESENBOGA ELEKTRI BMHYTB2 3.09 4,264 13,186.13
0.28 SOL EMEREN GROUP LTD BYM5JB4 4.13 3,020 12,472.60
0.27 322000 KS HYUNDAI ENERGY SOLUTIONS BG0WKZ2 39.66 295 11,699.85
0.26 AMPS ALTUS POWER INC BPNXP05 5.58 2,014 11,238.12
0.14 AZRE AZURE POWER GLOBAL LTD BDG16Z4 2.09 2,886 6,031.74
0.10 HLGN HELIOGEN INC BNLZ8J9 0.21 20,451 4,294.71
0.03 CASH 1.00 1,385 1,385.35
0.00 JAPANESE YEN 0.01 3,772 28.79
0.00 MALAYSIAN RINGGIT 0.22 1 0.12
0.00 EURO 1.10 0 0.11
0.00 KOREAN WON 0.00 -2 0.00
0.00 NORWEGIAN KRONE 0.09 -1 -0.07
Holdings are subject to change. "Cash" denotes U.S. dollars.

Sector Breakdown As of 02/28/23

Sector Weight (%)
Information Technology 64.2
Industrials 22.2
Utilities 6.0
Energy 5.0
Materials 2.5
Financials 0.1

Source: AltaVista Research, LLC

Country Breakdown As of 02/28/23

Country Weight (%)
China 58.8
United States 28.7
South Korea 2.3
Taiwan 1.9
Germany 1.9
Switzerland 1.4
Canada 1.3
Britain 1.3
Spain 0.9
Japan 0.7
Turkey 0.3
Other/Cash 0.5

Source: AltaVista Research, LLC

ETF Characteristics As of 03/23/23

Return on Equity 17.90%
Weighted Avg. Market Cap 15,712 M
2022 2023
Price-to-earnings 18.44 15.55
Price-to-book value 3.02 2.59

Source: AltaVista Research, LLC

ETF Risk Stats As of 02/28/23

Versus Beta
S&P 500 1.05
MSCI EAFE 0.99
MSCI Emg. Mkts 0.93
Standard Deviation 41.60%

Source: AltaVista 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.

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