Model Portfolios | Institutional | News | Contact

RAYS

Solar ETF

Overview Prices & Performance Holdings & Characteristics Research Documents

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 03/30/23

Inception Date	09/08/21
Total Expense Ratio	0.50%
Net Assets	$4.50 million
NAV	$20.47
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 03/30/23

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 03/30/23

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

ETF Prices As of 03/30/23

NAV	$20.47	Daily Change	$0.26	1.29%
Market Price	$20.61	Daily Change	$0.39	1.93%

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.

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
12.39	FSLR	FIRST SOLAR INC	B1HMF22	213.32	2,615	557,831.80
9.14	002459 C2	JA SOLAR TECHN-A	BMVB500	8.26	49,860	411,848.67
8.86	300274 C2	SUNGROW POWER -A	BD5CGB4	15.34	26,000	398,947.50
8.21	601012 C1	LONGI GREEN EN-A	BRTL411	5.89	62,760	369,597.77
6.11	ENPH	ENPHASE ENERGY INC	B65SQW4	205.27	1,341	275,267.07
5.66	002129 C2	TCL ZHONGHUAN -A	BD5CMT4	7.12	35,800	254,753.34
4.98	SEDG	SOLAREDGE TECHNO	BWC52Q6	296.03	757	224,094.71
4.28	688599 C1	TRINA SOLAR CO LTD-A	BP91P03	7.45	25,847	192,682.52
3.29	968 HK	XINYI SOLAR HOLDINGS LTD	BGQYNN1	1.19	124,100	147,973.35
3.22	603806 C1	HANGZHOU FIRST-A	BYYFJR8	8.60	16,880	145,148.10
2.94	300724 C2	SHENZHEN SC NE-A	BKDQ8D3	16.76	7,900	132,416.03
2.79	300763 C2	GINLONG TECHNO-A	BMQBTQ9	19.50	6,450	125,786.65
2.10	009830 KS	HANWHA SOLUTIONS CORP	6407768	30.42	3,111	94,636.28
2.03	RUN	SUNRUN INC	BYXB1Y8	18.85	4,842	91,271.70
1.76	688390 C1	GOODWE TECHNOL-A	BP91NV0	42.09	1,883	79,260.73
1.72	ARRY	ARRAY TECHNOLOGIES INC	BLBLMD5	20.18	3,838	77,450.84
1.37	AY	ATLANTICA SUSTAI	BLP5YB5	29.04	2,120	61,564.80
1.32	300118 C2	RISEN ENERGY CO LTD-A	BD5LW24	4.10	14,500	59,464.15
1.31	MBTN SW	MEYER BURGER TEC	B5NC0D0	0.68	86,132	58,811.04
1.30	CSIQ	CANADIAN SOLAR INC	B1GKCH1	39.36	1,484	58,410.24
1.28	SHLS	SHOALS TECHNOL-A	BMDJ085	22.32	2,589	57,786.48
1.27	ECV GR	ENCAVIS AG	5491966	17.04	3,364	57,324.64
1.22	002610 C2	JIANGSU AKCOME-A	BD5LXM1	0.43	127,100	55,061.24
0.93	300827 C2	SINENG ELECTRIC CO LTD-A	BP91MM4	8.61	4,840	41,681.62
0.86	SLR SM	SOLARIA ENERGIA	B1YVKJ4	17.91	2,167	38,818.89
0.86	6865 HK	FLAT GLASS GROUP CO LTD-H	BYQ9774	2.88	13,400	38,578.84
0.81	NOVA	SUNNOVA ENERGY I	BJ9N563	14.39	2,547	36,651.33
0.77	000591 C2	CECEP SOLAR EN-A	BD5LQM2	1.00	34,900	34,855.10
0.67	S92 GR	SMA SOLAR TECHNOLOGY AG	B3B20H2	105.31	287	30,224.04
0.62	SPWR	SUNPOWER CORP	B59DK93	13.25	2,116	28,037.00
0.61	3576 TT	UNITED RENEWABLE	B284BT3	0.69	39,918	27,589.77
0.60	3856 JP	ABALANCE CORP	B2416M6	56.50	478	27,007.68
0.44	6244 TT	MOTECH INDUSTRIES INC	6609445	1.19	16,690	19,892.53
0.44	300080 C2	HENAN YICHENG -A	BMVB522	0.86	23,000	19,727.13
0.44	MAXN	MAXEON SOLAR TECHNOLOGIE	BMH1V17	25.69	766	19,678.54
0.38	4934 TT	TAINERGY TECH CO LTD	B61GMJ1	1.02	16,900	17,201.86
0.38	6443 TT	TSEC CORP	BK0S597	1.27	13,377	17,041.88
0.35	2406 TT	GIGASTORAGE CORP	6246961	0.66	24,030	15,740.69
0.33	1407 JP	WEST HOLDINGS CORP	B0YQ5X1	24.18	622	15,041.59
0.31	3868 HK	XINYI ENERGY HOLDINGS LTD	BGSN864	0.30	46,500	13,802.09
0.30	FTCI	FTC SOLAR INC	BP09YX2	2.10	6,325	13,282.50
0.29	SOL	EMEREN GROUP LTD	BYM5JB4	4.31	3,020	13,016.20
0.29	322000 KS	HYUNDAI ENERGY SOLUTIONS	BG0WKZ2	43.49	295	12,829.54
0.27	ESEN TI	ESENBOGA ELEKTRI	BMHYTB2	2.87	4,264	12,233.86
0.25	AMPS	ALTUS POWER INC	BPNXP05	5.66	2,014	11,399.24
0.14	AZRE	AZURE POWER GLOBAL LTD	BDG16Z4	2.14	2,886	6,176.04
0.12	HLGN	HELIOGEN INC	BNLZ8J9	0.26	20,451	5,317.26
0.02		CASH		1.00	962	961.75
0.00		JAPANESE YEN		0.01	3,772	28.42
0.00		MALAYSIAN RINGGIT		0.22	1	0.12

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 03/30/23

Return on Equity	17.90%
Weighted Avg. Market Cap	15,712 M
	2022	2023
Price-to-earnings	19.05	16.06
Price-to-book value	3.12	2.67

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

Global Low-Carbon Hydrogen Industry Growth Taking Shape

Tech Advancing, Unlocking Solar Power’s Growth Potential

Renewable Energy Poised to Drive Growth in the Power Sector

Latest Premium / Discount As of 03/30/23

NAV	$20.47
Market Price	$20.61
Premium / (Discount)	$0.14

Current View 2023 Q1 As of 03/30/23

Days at Premium	32
Days at NAV	0
Days at Discount	29
Greatest Premium	1.36%
Greatest Discount	-1.05%

Daily Premium / Discount History As of 03/30/23

Hover over the chart points for details

View Chart Explanation

Download Chart Data (.CSV)

How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

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.

RAYS

Solar ETF

Reasons to Consider RAYS

High Growth Potential

Advancing Clean Technologies

Conscious Approach

Key Information As of 03/30/23

ETF Summary

ETF Objective

Trading Details As of 03/30/23

Distributions As of 03/30/23

ETF Prices As of 03/30/23

Performance History

Top Holdings As of 03/30/23

Sector Breakdown As of 02/28/23

Country Breakdown As of 02/28/23

ETF Characteristics As of 03/30/23

ETF Risk Stats As of 02/28/23

ETF Research

Global Low-Carbon Hydrogen Industry Growth Taking Shape

Tech Advancing, Unlocking Solar Power’s Growth Potential

Renewable Energy Poised to Drive Growth in the Power Sector

ETF Documents