ONOF

Adaptive U.S. Risk Management ETF

Morningstar Rating™ - Overall rating out of 237 Tactical Allocation funds, based on risk-adjusted returns as of 01/31/2025

Reasons to Consider ONOF

Risk Management

ONOF is designed to maintain exposure to the equity markets when the trending environment is positive, and then move to a risk-off position when that trend reverses.

Four Signal Approach

ONOF incorporates moving average, convergence/ divergence (MACD), drawdown, and volatility as indicators to shift between equity and fixed income exposure – each receiving an equal vote in the strategy.

Lessen Downside Risk

The strategy seeks to mitigate the extent of drawdowns while remaining invested in equities as much as possible.

Key Information As of 02/28/25

Inception Date	01/12/21
Total Expense Ratio	0.40%
Net Assets	$131.79 million
NAV	$35.52
Fact Sheet	View the document

ETF Summary

The Global X Adaptive U.S. Risk Management ETF (ONOF) seeks to provide a risk management solution by employing four technical indicators to dictate whether the Fund is participating in the U.S. equity markets or in a defensive stance in short term treasuries.

ETF Objective

The Global X Adaptive U.S. Risk Management ETF (ONOF) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Adaptive Wealth Strategies U.S. Risk Management Index.

Trading Details As of 02/28/25

Ticker	ONOF
Bloomberg Index Ticker	AWSRSK
CUSIP	37954Y194
ISIN	US37954Y1947
Primary Exchange	NYSE Arca
Shares Outstanding	3,710,000
Number of Holdings	508
30-Day Median Bid-Ask Spread	0.44%

Distributions As of 02/28/25

30-Day SEC Yield	0.87%
Distribution Frequency	Semi-Annually

ETF Prices As of 02/28/25

NAV	$35.52	Daily Change	$0.56	1.60%
Market Price	$35.48	Daily Change	$0.64	1.84%

As of recent (12/31/24) As of recent (12/31/24)	Fund NAV	Market Price	Index
1 Year	19.38%	19.45%	20.00%
3 Years	5.61%	5.50%	6.11%
Since Inception	10.32%	10.33%	10.60%
1 Year	13.04%	12.69%	13.58%
3 Years	12.30%	12.28%	12.87%
Since Inception	10.27%	10.23%	10.55%
Year-to-Date	19.38%	19.45%	20.00%
1 Month	-2.50%	-2.50%	-2.46%
3 Months	2.76%	2.76%	2.88%
Since Inception	47.68%	47.75%	49.17%
Year-to-Date	1.40%	1.23%	1.45%
1 Month	-1.63%	-1.85%	-1.61%
3 Months	-1.13%	-1.30%	-1.05%
Since Inception	49.75%	49.57%	51.33%

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 ($)	Shares Held	Market Value ($)
6.98	AAPL	APPLE INC	2046251	241.84	38,025	9,195,966.00
5.76	NVDA	NVIDIA CORP	2379504	124.92	60,775	7,592,013.00
5.71	MSFT	MICROSOFT CORP	2588173	396.99	18,957	7,525,739.43
3.90	AMZN	AMAZON.COM INC	2000019	212.28	24,240	5,145,667.20
2.84	META	META PLATFORMS INC	B7TL820	668.20	5,610	3,748,602.00
1.95	GOOGL	ALPHABET INC-CL A	BYVY8G0	170.28	15,069	2,565,949.32
1.79	AVGO	BROADCOM INC	BDZ78H9	199.43	11,835	2,360,254.05
1.74	GOOG	ALPHABET INC-CL C	BYY88Y7	172.22	13,329	2,295,520.38
1.60	TSLA	TESLA INC	B616C79	292.98	7,197	2,108,577.06
1.53	LLY	ELI LILLY & CO	2516152	920.63	2,196	2,021,703.48
1.46	JPM	JPMORGAN CHASE & CO	2190385	264.65	7,246	1,917,653.90
1.33	BRK/B	BERKSHIRE HATH-B	2073390	513.83	3,415	1,754,729.45
1.23	V	VISA INC-CLASS A SHARES	B2PZN04	362.71	4,464	1,619,137.44
0.96	XOM	EXXON MOBIL CORP	2326618	111.33	11,343	1,262,816.19
0.92	MA	MASTERCARD INC - A	B121557	576.31	2,100	1,210,251.00
0.91	COST	COSTCO WHOLESALE CORP	2701271	1,048.61	1,148	1,203,804.28
0.86	UNH	UNITEDHEALTH GROUP INC	2917766	474.96	2,378	1,129,454.88
0.85	WMT	WALMART INC	2936921	98.61	11,299	1,114,194.39
0.80	NFLX	NETFLIX INC	2857817	980.56	1,077	1,056,063.12
0.80	PG	PROCTER & GAMBLE CO/THE	2704407	173.84	6,070	1,055,208.80
0.78	JNJ	JOHNSON & JOHNSON	2475833	165.02	6,240	1,029,724.80
0.77	HD	HOME DEPOT INC	2434209	396.60	2,569	1,018,865.40
0.73	ABBV	ABBVIE INC	B92SR70	209.03	4,580	957,357.40
0.60	BAC	BANK OF AMERICA CORP	2295677	46.10	17,183	792,136.30
0.55	CRM	SALESFORCE INC	2310525	297.85	2,410	717,818.50
0.54	KO	COCA-COLA CO/THE	2206657	71.21	10,036	714,663.56
0.53	ORCL	ORACLE CORP	2661568	166.06	4,200	697,452.00
0.52	CVX	CHEVRON CORP	2838555	158.62	4,329	686,665.98
0.51	WFC	WELLS FARGO & CO	2649100	78.32	8,597	673,317.04
0.50	CSCO	CISCO SYSTEMS INC	2198163	64.11	10,360	664,179.60
0.47	PM	PHILIP MORRIS IN	B2PKRQ3	155.28	4,017	623,759.76
0.47	ABT	ABBOTT LABORATORIES	2002305	138.01	4,488	619,388.88
0.46	MRK	MERCK & CO. INC.	2778844	92.25	6,575	606,543.75
0.46	IBM	IBM	2005973	252.44	2,384	601,816.96
0.44	GE	GE AEROSPACE	BL59CR9	206.98	2,788	577,060.24
0.44	LIN	LINDE PLC	BNZHB81	467.05	1,234	576,339.70
0.43	MCD	MCDONALD'S CORP	2550707	306.56	1,856	568,975.36
0.43	ACN	ACCENTURE PLC-CL A	B4BNMY3	348.50	1,627	567,009.50
0.42	PEP	PEPSICO INC	2681511	153.47	3,566	547,274.02
0.40	DIS	WALT DISNEY CO/THE	2270726	113.80	4,670	531,446.00
0.40	ISRG	INTUITIVE SURGICAL INC	2871301	573.15	920	527,298.00
0.39	TMO	THERMO FISHER	2886907	528.96	982	519,438.72
0.39	T	AT&T INC	2831811	27.41	18,514	507,468.74
0.38	GS	GOLDMAN SACHS GROUP INC	2407966	622.29	808	502,810.32
0.38	NOW	SERVICENOW INC	B80NXX8	929.76	538	500,210.88
0.38	ADBE	ADOBE INC	2008154	438.56	1,133	496,888.48
0.36	VZ	VERIZON COMMUNIC	2090571	43.10	10,899	469,746.90
0.35	TXN	TEXAS INSTRUMENTS INC	2885409	195.99	2,346	459,792.54
0.35	RTX	RTX CORPORATION	BM5M5Y3	132.99	3,440	457,485.60
0.34	QCOM	QUALCOMM INC	2714923	157.17	2,882	452,963.94
0.33	BKNG	BOOKING HOLDINGS INC	BDRXDB4	5,016.01	87	436,392.87
0.33	INTU	INTUIT INC	2459020	613.84	705	432,757.20
0.33	PLTR	PALANTIR TECHN-A	BN78DQ4	84.92	5,071	430,629.32
0.33	AXP	AMERICAN EXPRESS CO	2026082	300.96	1,428	429,770.88
0.33	CAT	CATERPILLAR INC	2180201	343.95	1,249	429,593.55
0.33	SPGI	S&P GLOBAL INC	BYV2325	533.74	802	428,059.48
0.32	PGR	PROGRESSIVE CORP	2705024	282.00	1,513	426,666.00
0.32	MS	MORGAN STANLEY	2262314	133.11	3,202	426,218.22
0.32	AMGN	AMGEN INC	2023607	308.06	1,377	424,198.62
0.31	AMD	ADVANCED MICRO DEVICES	2007849	99.86	4,148	414,219.28
0.30	UBER	UBER TECHNOLOGIES INC	BK6N347	76.01	5,221	396,848.21
0.30	BSX	BOSTON SCIENTIFIC CORP	2113434	103.79	3,801	394,505.79
0.30	UNP	UNION PACIFIC CORP	2914734	246.69	1,580	389,770.20
0.30	PFE	PFIZER INC	2684703	26.43	14,690	388,256.70
0.30	BLK	BLACKROCK INC	BMZBBT7	977.78	397	388,178.66
0.29	C	CITIGROUP INC	2297907	79.95	4,767	381,121.65
0.28	GILD	GILEAD SCIENCES INC	2369174	114.31	3,221	368,192.51
0.28	NEE	NEXTERA ENERGY INC	2328915	70.17	5,241	367,760.97
0.28	LOW	LOWE'S COS INC	2536763	248.64	1,466	364,506.24
0.28	TJX	TJX COMPANIES INC	2989301	124.76	2,906	362,552.56
0.27	HON	HONEYWELL INTL	2020459	212.89	1,684	358,506.76
0.27	CMCSA	COMCAST CORP-CLASS A	2044545	35.88	9,877	354,386.76
0.26	DHR	DANAHER CORP	2250870	207.76	1,671	347,166.96
0.26	FI	FISERV INC	2342034	235.69	1,457	343,400.33
0.26	TMUS	T-MOBILE US INC	B94Q9V0	269.69	1,252	337,651.88
0.25	COP	CONOCOPHILLIPS	2685717	99.15	3,380	335,127.00
0.25	ADP	AUTOMATIC DATA PROCESSING	2065308	315.18	1,058	333,460.44
0.25	SBUX	STARBUCKS CORP	2842255	115.81	2,874	332,837.94
0.25	AMAT	APPLIED MATERIALS INC	2046552	158.07	2,091	330,524.37
0.25	BA	BOEING CO/THE	2108601	174.63	1,848	322,716.24
0.24	VRTX	VERTEX PHARM	2931034	479.79	664	318,580.56
0.24	SYK	STRYKER CORP	2853688	386.19	821	317,061.99
0.24	PANW	PALO ALTO NETWORKS INC	B87ZMX0	190.43	1,649	314,019.07
0.24	BMY	BRISTOL-MYERS SQUIBB CO	2126335	59.62	5,266	313,958.92
0.24	DE	DEERE & CO	2261203	480.79	649	312,032.71
0.23	SCHW	SCHWAB (CHARLES) CORP	2779397	79.53	3,862	307,144.86
0.23	MDT	MEDTRONIC PLC	BTN1Y11	92.02	3,319	305,414.38
0.23	MMC	MARSH & MCLENNAN COS	2567741	237.84	1,283	305,148.72
0.23	ETN	EATON CORP PLC	B8KQN82	293.32	1,024	300,359.68
0.23	BX	BLACKSTONE INC	BKF2SL7	161.16	1,855	298,951.80
0.23	CB	CHUBB LTD	B3BQMF6	285.48	1,045	298,326.60
0.23	PLD	PROLOGIS INC	B44WZD7	123.92	2,391	296,292.72
0.22	ADI	ANALOG DEVICES INC	2032067	230.06	1,280	294,476.80
0.21	LMT	LOCKHEED MARTIN CORP	2522096	447.07	611	273,159.77
0.20	MU	MICRON TECHNOLOGY INC	2588184	93.63	2,858	267,594.54
0.20	MELI	MERCADOLIBRE INC	B23X1H3	2,121.87	124	263,111.88
0.20	INTC	INTEL CORP	2463247	23.73	11,009	261,243.57
0.19	LRCX	LAM RESEARCH CORP	BSML4N7	76.74	3,312	254,162.88
0.19	ICE	INTERCONTINENTAL	BFSSDS9	173.23	1,465	253,781.95
0.19	SO	SOUTHERN CO/THE	2829601	89.79	2,812	252,489.48
0.19	ANET	ARISTA NETWORKS INC	BL9XPM3	93.05	2,672	248,629.60
0.19	AMT	AMERICAN TOWER CORP	B7FBFL2	205.62	1,208	248,388.96
0.19	MO	ALTRIA GROUP INC	2692632	55.85	4,441	248,029.85
0.19	KLAC	KLA CORP	2480138	708.84	348	246,676.32
0.19	WM	WASTE MANAGEMENT INC	2937667	232.78	1,049	244,186.22
0.18	NKE	NIKE INC -CL B	2640147	79.03	3,054	241,357.62
0.18	GEV	GE VERNOVA INC	BP6H4Y1	335.18	717	240,324.06
0.18	WELL	WELLTOWER INC	BYVYHH4	153.51	1,547	237,479.97
0.18	ELV	ELEVANCE HEALTH INC	BSPHGL4	396.88	592	234,952.96
0.18	DUK	DUKE ENERGY CORP	B7VD3F2	117.49	1,996	234,510.04
0.18	KKR	KKR & CO INC	BG1FRR1	135.59	1,727	234,163.93
0.18	CME	CME GROUP INC	2965839	253.77	921	233,722.17
0.17	CRWD	CROWDSTRIKE HO-A	BJJP138	389.66	583	227,171.78
0.17	SPOT	SPOTIFY TECHNOLOGY SA	BFZ1K46	608.01	369	224,355.69
0.17	UPS	UNITED PARCEL-B	2517382	119.03	1,876	223,300.28
0.17	MDLZ	MONDELEZ INTER-A	B8CKK03	64.23	3,465	222,556.95
0.17	MMM	3M CO	2595708	155.12	1,425	221,046.00
0.17	PH	PARKER HANNIFIN CORP	2671501	668.51	329	219,939.79
0.17	CI	THE CIGNA GROUP	BHJ0775	308.85	708	218,665.80
0.16	SHW	SHERWIN-WILLIAMS CO/THE	2804211	361.48	596	215,442.08
0.16	EQIX	EQUINIX INC	BVLZX12	904.62	238	215,299.56
0.16	AJG	ARTHUR J GALLAGHER & CO	2359506	337.74	635	214,464.90
0.16	CVS	CVS HEALTH CORP	2577609	65.72	3,242	213,064.24
0.16	ORLY	O'REILLY AUTOMOTIVE INC	B65LWX6	1,373.64	154	211,540.56
0.16	AON	AON PLC-CLASS A	BLP1HW5	409.12	510	208,651.20
0.16	MCK	MCKESSON CORP	2378534	639.55	326	208,493.30
0.16	MCO	MOODY'S CORP	2252058	503.94	411	207,119.34
0.16	TT	TRANE TECHNOLOGIES PLC	BK9ZQ96	353.70	585	206,914.50
0.16	APH	AMPHENOL CORP-CL A	2145084	66.60	3,063	203,995.80
0.15	MRVL	MARVELL TECHNOLOGY INC	BNKJSM5	91.82	2,213	203,197.66
0.15	CEG	CONSTELLATION ENERGY	BMH4FS1	250.55	810	202,941.45
0.15	ITW	ILLINOIS TOOL WORKS	2457552	263.98	765	201,944.70
0.15	TDG	TRANSDIGM GROUP INC	B11FJK3	1,367.20	145	198,244.00
0.15	PNC	PNC FINANCIAL SE	2692665	191.92	1,027	197,101.84
0.15	ZTS	ZOETIS INC	B95WG16	167.24	1,169	195,503.56
0.15	CL	COLGATE-PALMOLIVE CO	2209106	91.17	2,143	195,377.31
0.15	COF	CAPITAL ONE FINA	2654461	200.55	970	194,533.50
0.15	MSI	MOTOROLA SOLUTIONS INC	B5BKPQ4	440.22	434	191,055.48
0.15	CMG	CHIPOTLE MEXICAN	B0X7DZ3	53.97	3,531	190,568.07
0.14	REGN	REGENERON PHARMACEUTICALS	2730190	698.74	268	187,262.32
0.14	CTAS	CINTAS CORP	2197137	207.50	891	184,882.50
0.14	APP	APPLOVIN CORP-CLASS A	BMV3LG4	325.74	567	184,694.58
0.14	EOG	EOG RESOURCES INC	2318024	126.94	1,448	183,809.12
0.14	PYPL	PAYPAL HOLDINGS INC	BYW36M8	71.05	2,582	183,451.10
0.14	WMB	WILLIAMS COS INC	2967181	58.18	3,146	183,034.28
0.14	CRH	CRH PLC	B01ZKD6	102.52	1,772	181,665.44
0.14	SNPS	SYNOPSYS INC	2867719	457.28	396	181,082.88
0.14	USB	US BANCORP	2736035	46.90	3,824	179,345.60
0.14	EMR	EMERSON ELECTRIC CO	2313405	121.61	1,472	179,009.92
0.14	APD	AIR PRODS & CHEM	2011602	316.15	561	177,360.15
0.13	NOC	NORTHROP GRUMMAN CORP	2648806	459.68	383	176,057.44
0.13	CDNS	CADENCE DESIGN SYS INC	2302232	250.50	701	175,600.50
0.13	ECL	ECOLAB INC	2304227	269.01	650	174,856.50
0.13	FTNT	FORTINET INC	B5B2106	108.01	1,584	171,087.84
0.13	BDX	BECTON DICKINSON AND CO	2087807	225.53	749	168,921.97
0.13	MAR	MARRIOTT INTL-A	2210614	280.45	602	168,830.90
0.13	BK	BANK NY MELLON	B1Z77F6	88.95	1,875	166,781.25
0.13	DASH	DOORDASH INC - A	BN13P03	198.44	828	164,308.32
0.12	HLT	HILTON WORLDWIDE	BYVMW06	264.96	613	162,420.48
0.12	CSX	CSX CORP	2160753	32.01	5,055	161,810.55
0.12	TFC	TRUIST FINANCIAL CORP	BKP7287	46.35	3,434	159,165.90
0.12	ROP	ROPER TECHNOLOGIES INC	2749602	584.50	272	158,984.00
0.12	AZO	AUTOZONE INC	2065955	3,493.01	45	157,185.45
0.12	RCL	ROYAL CARIBBEAN	2754907	246.10	638	157,011.80
0.12	SPG	SIMON PROPERTY GROUP INC	2812452	186.09	839	156,129.51
0.12	APO	APOLLO GLOBAL MA	BN44JF6	149.27	1,042	155,539.34
0.12	ADSK	AUTODESK INC	2065159	274.21	561	153,831.81
0.12	SLB	SCHLUMBERGER LTD	2779201	41.66	3,676	153,142.16
0.12	TRV	TRAVELERS COS INC/THE	2769503	258.49	590	152,509.10
0.12	FDX	FEDEX CORP	2142784	262.90	580	152,482.00
0.12	ABNB	AIRBNB INC-CLASS A	BMGYYH4	138.87	1,098	152,479.26
0.11	OKE	ONEOK INC	2130109	100.39	1,500	150,585.00
0.11	TGT	TARGET CORP	2259101	124.24	1,194	148,342.56
0.11	MSTR	MICROSTRATEGY INC-CL A	2974329	255.43	578	147,638.54
0.11	JCI	JOHNSON CONTROLS	BY7QL61	85.66	1,723	147,592.18
0.11	WDAY	WORKDAY INC-CLASS A	B8K6ZD1	263.34	560	147,470.40
0.11	GD	GENERAL DYNAMICS CORP	2365161	252.60	579	146,255.40
0.11	AFL	AFLAC INC	2026361	109.47	1,331	145,704.57
0.11	HCA	HCA HEALTHCARE INC	B4MGBG6	306.30	475	145,492.50
0.11	SNOW	SNOWFLAKE INC-CLASS A	BN134B7	177.10	815	144,336.50
0.11	AEP	AMERICAN ELECTRIC POWER	2026242	106.05	1,354	143,591.70
0.11	HWM	HOWMET AEROSPACE INC	BKLJ8V2	136.60	1,046	142,883.60
0.11	PCAR	PACCAR INC	2665861	107.24	1,327	142,307.48
0.11	NSC	NORFOLK SOUTHERN CORP	2641894	245.75	578	142,043.50
0.11	PSX	PHILLIPS 66	B78C4Y8	129.69	1,092	141,621.48
0.11	CARR	CARRIER GLOBAL CORP	BK4N0D7	64.80	2,178	141,134.40
0.11	GM	GENERAL MOTORS CO	B665KZ5	49.13	2,821	138,595.73
0.10	KMI	KINDER MORGAN INC	B3NQ4P8	27.10	5,046	136,746.60
0.10	AIG	AMERICAN INTERNA	2027342	82.94	1,648	136,685.12
0.10	FCX	FREEPORT-MCMORAN INC	2352118	36.91	3,687	136,087.17
0.10	AMP	AMERIPRISE FINANCIAL INC	B0J7D57	537.30	253	135,936.90
0.10	ALL	ALLSTATE CORP	2019952	199.15	673	134,027.95
0.10	MET	METLIFE INC	2573209	86.18	1,536	132,372.48
0.10	LNG	CHENIERE ENERGY INC	2654364	228.56	578	132,107.68
0.10	DLR	DIGITAL REALTY TRUST INC	B03GQS4	156.32	840	131,308.80
0.10	CMI	CUMMINS INC	2240202	368.18	351	129,231.18
0.10	FLUT	FLUTTER ENTER-DI	BWZMZF4	280.59	460	129,071.40
0.10	NEM	NEWMONT CORP	2636607	42.84	2,979	127,620.36
0.10	O	REALTY INCOME CORP	2724193	56.76	2,248	127,600.98
0.10	RSG	REPUBLIC SERVICES INC	2262530	237.02	536	127,042.72
0.10	PAYX	PAYCHEX INC	2674458	151.67	832	126,189.44
0.10	MPC	MARATHON PETROLEUM CORP	B3K3L40	150.18	830	124,649.40
0.09	DFS	DISCOVER FINANCI	B1YLC43	195.19	638	124,531.22
0.09	PSA	PUBLIC STORAGE	2852533	303.62	409	124,180.58
0.09	KMB	KIMBERLY-CLARK CORP	2491839	142.01	872	123,832.72
0.09	FICO	FAIR ISAAC CORP	2330299	1,886.35	65	122,612.75
0.09	D	DOMINION ENERGY INC	2542049	56.62	2,154	121,959.48
0.09	TEL	TE CONNECTIVITY PLC	BRC3N84	154.03	790	121,683.70
0.09	GWW	WW GRAINGER INC	2380863	1,021.21	118	120,502.78
0.09	CPRT	COPART INC	2208073	54.80	2,185	119,738.00
0.09	ROST	ROSS STORES INC	2746711	140.32	848	118,991.36
0.09	VST	Vistra Corp.	BZ8VJQ8	133.66	873	116,685.18
0.09	SRE	SEMPRA	2138158	71.57	1,628	116,515.96
0.09	KVUE	KENVUE INC	BQ84ZQ6	23.60	4,937	116,513.20
0.09	TEAM	ATLASSIAN CORP-CL A	BQ1PC76	284.26	409	116,262.34
0.09	BKR	BAKER HUGHES CO	BDHLTQ5	44.59	2,605	116,156.95
0.09	MSCI	MSCI INC	B2972D2	590.51	196	115,739.96
0.09	TRGP	TARGA RESOURCES CORP	B55PZY3	201.72	572	115,383.84
0.09	COR	CENCORA INC	2795393	253.54	452	114,600.08
0.09	CBRE	CBRE GROUP INC - A	B6WVMH3	141.94	798	113,268.12
0.09	EXC	EXELON CORP	2670519	44.20	2,557	113,019.40
0.09	YUM	YUM! BRANDS INC	2098876	156.37	721	112,742.77
0.09	CTVA	CORTEVA INC	BK73B42	62.81	1,793	112,618.33
0.09	URI	UNITED RENTALS INC	2134781	642.32	175	112,406.00
0.08	AME	AMETEK INC	2089212	189.30	588	111,308.40
0.08	FAST	FASTENAL CO	2332262	75.73	1,469	111,247.37
0.08	KR	KROGER CO	2497406	64.82	1,715	111,166.30
0.08	EW	EDWARDS LIFESCIENCES CORP	2567116	71.62	1,552	111,154.24
0.08	NET	CLOUDFLARE INC - CLASS A	BJXC5M2	145.30	761	110,573.30
0.08	VRSK	VERISK ANALYTICS INC	B4P9W92	296.91	372	110,450.52
0.08	COIN	COINBASE GLOBA-A	BMC9P69	215.62	512	110,397.44
0.08	VLO	VALERO ENERGY CORP	2041364	130.73	843	110,205.39
0.08	PRU	PRUDENTIAL FINANCIAL INC	2819118	115.10	947	108,999.70
0.08		OTHER PAYABLE & RECEIVABLES		1.00	108,272	108,271.73
0.08	CTSH	COGNIZANT TECH-A	2257019	83.33	1,284	106,995.72
0.08	HES	HESS CORP	2023748	148.94	713	106,194.22
0.08	OTIS	OTIS WORLDWIDE CORP	BK531S8	99.78	1,057	105,467.46
0.08	CCI	CROWN CASTLE INC	BTGQCX1	94.10	1,114	104,827.40
0.08	PEG	PUB SERV ENTERP	2707677	81.15	1,290	104,683.50
0.08	XEL	XCEL ENERGY INC	2614807	72.10	1,414	101,949.40
0.08	FIS	FIDELITY NATIONA	2769796	71.12	1,433	101,914.96
0.08	LHX	L3HARRIS TECHNOLOGIES INC	BK9DTN5	206.11	490	100,993.90
0.08	GLW	CORNING INC	2224701	50.15	1,980	99,297.00
0.08	DAL	DELTA AIR LINES INC	B1W9D46	60.12	1,649	99,137.88
0.08	LULU	LULULEMON ATHLETICA INC	B23FN39	365.61	271	99,080.31
0.08	SYY	SYSCO CORP	2868165	75.54	1,310	98,957.40
0.08	AXON	AXON ENTERPRISE INC	BDT5S35	528.45	187	98,820.15
0.08	MNST	MONSTER BEVERAGE CORP	BZ07BW4	54.65	1,800	98,370.00
0.07	A	AGILENT TECHNOLOGIES INC	2520153	127.92	761	97,347.12
0.07	F	FORD MOTOR CO	2615468	9.55	10,122	96,665.10
0.07	PWR	QUANTA SERVICES INC	2150204	259.63	370	96,063.10
0.07	GEHC	GE HEALTHCARE TECHNOLOGY	BL6JPG8	87.35	1,096	95,735.60
0.07	DHI	DR HORTON INC	2250687	126.81	745	94,473.45
0.07	ETR	ENTERGY CORP	2317087	87.31	1,081	94,382.11
0.07	IT	GARTNER INC	2372763	498.32	188	93,684.16
0.07	HUBS	HUBSPOT INC	BR4T3B3	723.99	128	92,670.72
0.07	XYZ	BLOCK INC	BYNZGK1	65.30	1,416	92,464.80
0.07	KDP	KEURIG DR PEPPER INC	BD3W133	33.52	2,720	91,174.40
0.07	IDXX	IDEXX LABORATORIES INC	2459202	437.11	208	90,918.88
0.07	DDOG	DATADOG INC - CLASS A	BKT9Y49	116.55	780	90,909.00
0.07	ED	CONSOLIDATED EDISON INC	2216850	101.52	892	90,555.84
0.07	HIG	HARTFORD INSURANCE GROUP	2476193	117.76	763	89,850.88
0.07	GRMN	GARMIN LTD	B3Z5T14	228.93	392	89,740.56
0.07	PCG	P G & E CORP	2689560	16.34	5,485	89,624.90
0.07	WTW	WILLIS TOWERS WATSON PLC	BDB6Q21	339.65	263	89,327.95
0.07	FERG	FERGUSON ENTERPRISES INC	BS6VHW3	177.50	502	89,105.00
0.07	TTWO	TAKE-TWO INTERAC	2122117	211.98	420	89,031.60
0.07	DXCM	DEXCOM INC	B0796X4	88.37	1,007	88,988.59
0.07	CHTR	CHARTER COMMUN-A	BZ6VT82	363.57	244	88,711.08
0.07	GIS	GENERAL MILLS INC	2367026	60.62	1,461	88,565.82
0.07	IR	INGERSOLL-RAND INC	BL5GZ82	84.78	1,039	88,086.42
0.07	NDAQ	NASDAQ INC	2965107	82.78	1,061	87,829.58
0.07	OXY	OCCIDENTAL PETROLEUM CORP	2655408	48.84	1,797	87,765.48
0.07	ODFL	OLD DOMINION FREIGHT LINE	2656423	176.50	495	87,367.50
0.07	RMD	RESMED INC	2732903	233.52	374	87,336.48
0.07	IQV	IQVIA HOLDINGS INC	BDR73G1	188.80	461	87,036.80
0.07	TPL	TEXAS PACIFIC LAND CORP	BM99VY2	1,426.35	61	87,007.35
0.07	WEC	WEC ENERGY GROUP INC	BYY8XK8	106.69	812	86,632.28
0.07	VICI	VICI PROPERTIES INC	BYWH073	32.49	2,659	86,390.91
0.07	VEEV	VEEVA SYSTEMS INC-CLASS A	BFH3N85	224.14	382	85,621.48
0.07	WAB	WABTEC CORP	2955733	185.36	460	85,265.60
0.06	ACGL	ARCH CAPITAL GROUP LTD	2740542	92.91	913	84,826.83
0.06	NUE	NUCOR CORP	2651086	137.47	615	84,544.05
0.06	ROK	ROCKWELL AUTOMATION INC	2754060	287.15	293	84,134.95
0.06	VMC	VULCAN MATERIALS CO	2931205	247.31	340	84,085.40
0.06	VRT	VERTIV HOLDINGS CO-A	BL3LWS8	95.17	881	83,844.77
0.06	HUM	HUMANA INC	2445063	270.42	309	83,559.78
0.06	EXR	EXTRA SPACE STORAGE INC	B02HWR9	152.56	543	82,840.08
0.06	AVB	AVALONBAY COMMUNITIES INC	2131179	226.18	364	82,329.52
0.06	MTB	M & T BANK CORP	2340168	190.37	426	81,097.62
0.06	ARES	ARES MANAGEMENT CORP - A	BF14BT1	170.94	472	80,683.68
0.06	RBLX	ROBLOX CORP -CLASS A	BMWBC20	63.64	1,264	80,440.96
0.06	CAH	CARDINAL HEALTH INC	2175672	129.48	621	80,407.08
0.06	TTD	TRADE DESK INC-A	BD8FDD1	70.32	1,142	80,305.44
0.06	DELL	DELL TECHNOLOGIES -C	BHKD3S6	102.76	779	80,050.04
0.06	EBAY	EBAY INC	2293819	64.74	1,233	79,824.42
0.06	XYL	XYLEM INC	B3P2CN8	130.89	608	79,581.12
0.06	EA	ELECTRONIC ARTS INC	2310194	129.12	616	79,537.92
0.06	MCHP	MICROCHIP TECHNOLOGY INC	2592174	58.86	1,351	79,519.86
0.06	CSGP	COSTAR GROUP INC	2262864	76.25	1,040	79,300.00
0.06	DD	DUPONT DE NEMOURS INC	BK0VN47	81.36	969	78,837.84
0.06	ALNY	ALNYLAM PHARMACE	B00FWN1	246.75	318	78,466.50
0.06	HPQ	HP INC	BYX4D52	30.87	2,534	78,224.58
0.06	MLM	MARTIN MARIETTA MATERIALS	2572079	482.35	162	78,140.70
0.06	TSCO	TRACTOR SUPPLY COMPANY	2900335	55.35	1,404	77,711.40
0.06	UAL	UNITED AIRLINES	B4QG225	93.81	827	77,580.87
0.06	STT	STATE STREET CORP	2842040	99.23	773	76,704.79
0.06	EFX	EQUIFAX INC	2319146	245.20	312	76,502.40
0.06	MPWR	MONOLITHIC POWER	B01Z7J1	611.01	124	75,765.24
0.06	FITB	FIFTH THIRD BANCORP	2336747	43.47	1,741	75,681.27
0.06	CNC	CENTENE CORP	2807061	58.16	1,294	75,259.04
0.06	RJF	RAYMOND JAMES	2718992	154.67	486	75,169.62
0.06	LEN	LENNAR CORP-A	2511920	119.63	620	74,170.60
0.06	ANSS	ANSYS INC	2045623	333.25	218	72,648.50
0.06	BRO	BROWN & BROWN INC	2692687	118.54	609	72,190.86
0.06	FTV	FORTIVE CORP	BYT3MK1	79.54	905	71,983.70
0.06	BR	BROADRIDGE FINL	B1VP7R6	241.22	298	71,883.56
0.05	KEYS	KEYSIGHT TECHNOLOGIES IN	BQZJ0Q9	159.53	449	71,628.97
0.05	MTD	METTLER-TOLEDO	2126249	1,272.72	56	71,272.32
0.05	STZ	CONSTELLATION-A	2170473	175.50	406	71,253.00
0.05	VTR	VENTAS INC	2927925	69.18	1,027	71,047.86
0.05	DTE	DTE ENERGY COMPANY	2280220	133.70	530	70,861.00
0.05	EQT	EQT CORP	2319414	48.17	1,461	70,376.37
0.05	FANG	DIAMONDBACK ENERGY INC	B7Y8YR3	158.96	440	69,942.40
0.05	DOV	DOVER CORP	2278407	198.77	351	69,768.27
0.05	LPLA	LPL FINANCIAL HO	B75JX34	371.74	187	69,515.38
0.05	DOW	DOW INC	BHXCF84	38.11	1,820	69,360.20
0.05	IRM	IRON MOUNTAIN INC	BVFTF03	93.17	744	69,318.48
0.05	CHD	CHURCH & DWIGHT CO INC	2195841	111.20	623	69,277.60
0.05	GPN	GLOBAL PAYMENTS INC	2712013	105.28	657	69,168.96
0.05	SW	SMURFIT WESTROCK PLC	BRK49M5	52.07	1,322	68,836.54
0.05	AWK	AMERICAN WATER W	B2R3PV1	135.97	503	68,392.91
0.05	PPG	PPG INDUSTRIES INC	2698470	113.22	601	68,045.22
0.05	AEE	AMEREN CORPORATION	2050832	101.56	668	67,842.08
0.05	MKL	MARKEL GROUP INC	2566436	1,933.44	35	67,670.40
0.05	TYL	TYLER TECHNOLOGIES INC	2909644	608.43	110	66,927.30
0.05	CVNA	CARVANA CO	BYQHPG3	233.10	287	66,899.70
0.05	PPL	PPL CORP	2680905	35.21	1,891	66,582.11
0.05	CPNG	COUPANG INC	BNYHDF3	23.70	2,798	66,312.60
0.05	CPAY	CORPAY INC	BMX5GK7	367.05	179	65,701.95
0.05	HPE	HEWLETT PACKA	BYVYWS0	19.81	3,301	65,392.81
0.05	HSY	HERSHEY CO/THE	2422806	172.71	378	65,284.38
0.05	EQR	EQUITY RESIDENTIAL	2319157	74.17	880	65,269.60
0.05	WBD	WARNER BROS DISCOVERY INC	BM8JYX3	11.46	5,694	65,253.24
0.05	EXPE	EXPEDIA GROUP INC	B748CK2	197.96	322	63,743.12
0.05	TDY	TELEDYNE TECHNOLOGIES INC	2503477	515.02	123	63,347.46
0.05	SYF	SYNCHRONY FINANCIAL	BP96PS6	60.68	1,032	62,621.76
0.05	HOOD	ROBINHOOD MARKETS INC - A	BP0TQN6	50.10	1,244	62,324.40
0.05	KHC	KRAFT HEINZ CO/THE	BYRY499	30.71	2,029	62,310.59
0.05	GDDY	GODADDY INC - CLASS A	BWFRFC6	179.50	344	61,748.00
0.05	CDW	CDW CORP/DE	BBM5MD6	178.20	345	61,479.00
0.05	DRI	DARDEN RESTAURANTS INC	2289874	200.46	306	61,340.76
0.05	HAL	HALLIBURTON CO	2405302	26.37	2,313	60,993.81
0.05	CCL	CARNIVAL CORP	2523044	23.93	2,535	60,662.55
0.05	HBAN	HUNTINGTON BANCSHARES INC	2445966	16.47	3,678	60,576.66
0.05	ADM	ARCHER-DANIELS-MIDLAND CO	2047317	47.20	1,266	59,755.20
0.05	WSM	WILLIAMS-SONOMA INC	2967589	194.58	306	59,541.48
0.05	TROW	T ROWE PRICE GROUP INC	2702337	105.72	561	59,308.92
0.05	SBAC	SBA COMMUNICATIONS CORP	BZ6TS23	217.90	272	59,268.80
0.04	CINF	CINCINNATI FINANCIAL CORP	2196888	147.81	396	58,532.76
0.04	ATO	ATMOS ENERGY CORP	2315359	152.13	384	58,417.92
0.04	DVN	DEVON ENERGY CORP	2480677	36.22	1,605	58,133.10
0.04	WAT	WATERS CORP	2937689	377.34	154	58,110.36
0.04	NTRS	NORTHERN TRUST CORP	2648668	110.22	526	57,975.72
0.04	NVR	NVR INC	2637785	7,245.58	8	57,964.64
0.04	WY	WEYERHAEUSER CO	2958936	30.10	1,874	56,407.40
0.04	PHM	PULTEGROUP INC	2708841	103.28	546	56,390.88
0.04	ZBH	ZIMMER BIOMET HO	2783815	104.32	540	56,332.80
0.04	PINS	PINTEREST INC- CLASS A	BJ2Z0H2	36.98	1,518	56,135.64
0.04	CBOE	CBOE GLOBAL MARKETS INC	B5834C5	210.80	265	55,862.00
0.04	ES	EVERSOURCE ENERGY	BVVN4Q8	63.01	886	55,826.86
0.04	VLTO	VERALTO CORP	BPGMZQ5	99.76	559	55,765.84
0.04	CMS	CMS ENERGY CORP	2219224	73.05	761	55,591.05
0.04	FCNCA	FIRST CITIZENS-A	2355582	2,048.06	27	55,297.62
0.04	RF	REGIONS FINANCIAL CORP	B01R311	23.46	2,352	55,177.92
0.04	CNP	CENTERPOINT ENERGY INC	2440637	34.38	1,602	55,076.76
0.04	STE	STERIS PLC	BFY8C75	219.26	249	54,595.74
0.04	K	KELLANOVA	2486813	82.33	661	54,420.13
0.04	EXE	EXPAND ENERGY CORP	BMZ5LZ5	98.88	547	54,087.36
0.04	DECK	DECKERS OUTDOOR CORP	2267278	139.36	388	54,071.68
0.04	FE	FIRSTENERGY CORP	2100920	38.77	1,392	53,967.84
0.04	LH	LABCORP HOLDINGS INC	BSBK800	251.04	213	53,471.52
0.04	EIX	EDISON INTERNATIONAL	2829515	54.44	982	53,460.08
0.04	IFF	INTL FLAVORS & FRAGRANCES	2464165	81.81	652	53,340.12
0.04	PFG	PRINCIPAL FINANCIAL GROUP	2803014	89.04	598	53,245.92
0.04	LYV	LIVE NATION ENTE	B0T7YX2	143.36	371	53,186.56
0.04	NTAP	NETAPP INC	2630643	99.81	532	53,098.92
0.04	CFG	CITIZENS FINANCIAL GROUP	BQRX1X3	45.77	1,159	53,047.43
0.04	MKC	MCCORMICK-N/V	2550161	82.61	640	52,870.40
0.04	HUBB	HUBBELL INC	BDFG6S3	371.59	141	52,394.19
0.04	IBKR	INTERACTIVE BROK	B1WT4X2	204.40	255	52,122.00
0.04	ON	ON SEMICONDUCTOR	2583576	47.05	1,107	52,084.35
0.04	ESS	ESSEX PROPERTY TRUST INC	2316619	311.57	167	52,032.19
0.04	BIIB	BIOGEN INC	2455965	140.50	370	51,985.00
0.04	DKNG	DRAFTKINGS INC-CL A	BLDDH12	43.86	1,184	51,930.24
0.04	VRSN	VERISIGN INC	2142922	237.88	218	51,857.84
0.04	CTRA	COTERRA ENERGY INC	2162340	26.99	1,905	51,415.95
0.04	SMCI	SUPER MICRO COMPUTER INC	BRC3N73	41.46	1,237	51,286.02
0.04	STLD	STEEL DYNAMICS INC	2849472	135.07	378	51,056.46
0.04	STX	SEAGATE TECHNOLO	BKVD2N4	101.91	497	50,649.27
0.04	NTRA	NATERA INC	BYQRG48	155.59	323	50,255.57
0.04	LYB	LYONDELLBASELL INDU-CL A	B3SPXZ3	76.83	651	50,016.33
0.04	MAA	MID-AMERICA APAR	2589132	168.12	297	49,931.64
0.04	LII	LENNOX INTERNATIONAL INC	2442053	601.05	83	49,887.15
0.04	EME	EMCOR GROUP INC	2474164	408.91	122	49,887.02
0.04	INVH	INVITATION HOMES INC	BD81GW9	34.01	1,464	49,790.64
0.04	CLX	CLOROX COMPANY	2204026	156.39	317	49,575.63
0.04	ZM	ZOOM COMMUNICATIONS INC	BGSP7M9	73.70	671	49,452.70
0.04	PTC	PTC INC	B95N910	163.63	301	49,252.63
0.04	WRB	WR BERKLEY CORP	2093644	63.00	774	48,762.00
0.04	DGX	QUEST DIAGNOSTICS INC	2702791	172.90	282	48,757.80
0.04	SSNC	SS&C TECHNOLOGIE	B58YSC6	88.80	549	48,751.20
0.04	PKG	PACKAGING CORP OF AMERICA	2504566	213.09	223	47,519.07
0.04	LUV	SOUTHWEST AIRLINES CO	2831543	31.06	1,514	47,024.84
0.04	FDS	FACTSET RESEARCH	2329770	461.74	100	46,174.00
0.04	COO	COOPER COS INC/THE	BQPDXR3	90.38	509	46,003.42
0.04	MDB	MONGODB INC	BF2FJ99	267.43	172	45,997.96
0.04	WSO	WATSCO INC	2943039	504.33	91	45,894.03
0.04	TRU	TRANSUNION	BYMWL86	92.43	496	45,845.28
0.04	MOH	MOLINA HEALTHCARE INC	2212706	301.12	152	45,770.24
0.04	ZS	ZSCALER INC	BZ00V34	196.23	232	45,525.36
0.03	LDOS	LEIDOS HOLDINGS INC	BDV82B8	129.97	349	45,359.53
0.03	TRMB	TRIMBLE INC	2903958	71.98	625	44,987.50
0.03	BBY	BEST BUY CO INC	2094670	89.91	500	44,955.00
0.03	ULTA	ULTA BEAUTY INC	B28TS42	366.36	122	44,695.92
0.03	BAX	BAXTER INTERNATIONAL INC	2085102	34.51	1,284	44,310.84
0.03	TSN	TYSON FOODS INC-CL A	2909730	61.34	717	43,980.78
0.03	RS	RELIANCE INC	2729068	297.16	148	43,979.68
0.03	GPC	GENUINE PARTS CO	2367480	124.88	351	43,832.88
0.03	TER	TERADYNE INC	2884183	109.86	396	43,504.56
0.03	JBL	JABIL INC	2471789	154.92	277	42,912.84
0.03	SUI	SUN COMMUNITIES INC	2860257	136.15	313	42,614.95
0.03	CSL	CARLISLE COS INC	2176318	340.76	125	42,595.00
0.03	BLDR	BUILDERS FIRSTSOURCE INC	B0BV2M7	138.99	304	42,252.96
0.03	ZBRA	ZEBRA TECH CORP	2989356	315.05	134	42,216.70
0.03	EXPD	EXPEDITORS INTL WASH INC	2325507	117.36	358	42,014.88
0.03	LVS	LAS VEGAS SANDS CORP	B02T2J7	44.71	938	41,937.98
0.03	WST	WEST PHARMACEUT	2950482	232.34	180	41,821.20
0.03	OMC	OMNICOM GROUP	2279303	82.76	504	41,711.04
0.03	BALL	BALL CORP	2073022	52.49	794	41,677.06
0.03	PSTG	PURE STORAGE-A	BYZ62T3	52.47	785	41,188.95
0.03	DG	DOLLAR GENERAL CORP	B5B1S13	74.18	555	41,169.90
0.03	RDDT	REDDIT INC-CL A	BMVNLY2	161.78	254	41,092.12
0.03	LNT	ALLIANT ENERGY CORP	2973821	64.53	636	41,041.08
0.03	J	JACOBS SOLUTIONS INC	BNGC0D3	128.11	318	40,738.98
0.03	L	LOEWS CORP	2523022	86.67	470	40,734.90
0.03	ARE	ALEXANDRIA REAL	2009210	102.26	398	40,699.48
0.03	TOST	TOAST INC-CLASS A	BP6D7B7	38.60	1,043	40,259.80
0.03	WDC	WESTERN DIGITAL CORP	2954699	48.93	820	40,122.60
0.03	HEI/A	HEICO CORP-CLASS A	2237561	213.16	187	39,860.92
0.03	ROL	ROLLINS INC	2747305	52.39	756	39,606.84
0.03	TW	TRADEWEB MARKE-A	BJXMVK2	135.25	292	39,493.00
0.03	EVRG	EVERGY INC	BFMXGR0	68.91	571	39,347.61
0.03	EL	ESTEE LAUDER	2320524	71.91	541	38,903.31
0.03	APTV	APTIV PLC	BTDN8H1	65.12	595	38,746.40
0.03	ENTG	ENTEGRIS INC	2599700	101.22	382	38,666.04
0.03	DLTR	DOLLAR TREE INC	2272476	72.86	519	37,814.34
0.03	CF	CF INDUSTRIES HO	B0G4K50	81.02	466	37,755.32
0.03	AVY	AVERY DENNISON CORP	2066408	187.97	200	37,594.00
0.03	HOLX	HOLOGIC INC	2433530	63.39	592	37,526.88
0.03	AMCR	AMCOR PLC	BJ1F307	10.12	3,680	37,241.60
0.03	OKTA	OKTA INC	BDFZSP1	90.49	407	36,829.43
0.03	DOC	HEALTHPEAK PROPERTIES INC	BJBLRK3	20.46	1,797	36,766.62
0.03	IEX	IDEX CORP	2456612	194.33	188	36,534.04
0.03	ILMN	ILLUMINA INC	2613990	88.74	409	36,294.66
0.03	RVTY	REVVITY INC	2305844	112.15	312	34,990.80
0.03	FSLR	FIRST SOLAR INC	B1HMF22	136.18	255	34,725.90
0.03	BAH	BOOZ ALLEN HAMIL	B5367T7	106.06	327	34,681.62
0.03	ALGN	ALIGN TECHNOLOGY INC	2679204	187.03	185	34,600.55
0.03	BMRN	BIOMARIN PHARMAC	2437071	71.16	476	33,872.16
0.03	SWK	STANLEY BLACK &	B3Q2FJ4	86.53	386	33,400.58
0.03	JBHT	HUNT (JB) TRANS	2445416	161.19	205	33,043.95
0.03	FOXA	FOX CORP - CLASS A	BJJMGL2	57.60	572	32,947.20
0.02	RPRX	ROYALTY PHARMA PLC- CL A	BMVP7Y0	33.64	950	31,958.00
0.02	CAG	CONAGRA BRANDS INC	2215460	25.54	1,211	30,928.94
0.02	EG	EVEREST GROUP LTD	2556868	353.22	87	30,730.14
0.02	AKAM	AKAMAI TECHNOLOGIES INC	2507457	80.68	380	30,658.40
0.02	INCY	INCYTE CORP	2471950	73.50	414	30,429.00
0.02	ERIE	ERIE INDEMNITY-A	2311711	428.07	67	28,680.69
0.02		CASH		1.00	28,227	28,227.18
0.02	VTRS	VIATRIS INC	BMWS3X9	9.23	3,045	28,105.35
0.02	HEI	HEICO CORP	2419217	264.68	106	28,056.08
0.02	AVTR	AVANTOR INC	BJLT387	16.70	1,657	27,671.90
0.02	TKO	TKO GROUP HOLDINGS INC	BQBBFD1	150.64	182	27,416.48
0.02	SWKS	SKYWORKS SOLUTIONS INC	2961053	66.66	409	27,263.94
0.02	SNAP	SNAP INC - A	BD8DJ71	10.25	2,607	26,721.75
0.02	OWL	BLUE OWL CAPITAL INC	BN7CQS9	21.53	1,232	26,524.96
0.02	BG	BUNGE GLOBAL SA	BQ6BPG9	74.19	357	26,485.83
0.02	BXP	BXP INC	2019479	70.93	363	25,747.59
0.02	DOX	AMDOCS LTD	2256908	87.25	288	25,128.00
0.02	BF/B	BROWN-FORMAN CORP-CLASS B	2146838	33.11	758	25,097.38
0.02	MRNA	MODERNA INC	BGSXTS3	30.96	807	24,984.72
0.02	IOT	SAMSARA INC-CL A	BPK3058	47.68	493	23,506.24
0.02	HRL	HORMEL FOODS CORP	2437264	28.63	726	20,785.38
0.02	ALAB	ASTERA LABS INC	BMTQ7V2	74.35	278	20,669.30
0.02	SCCO	SOUTHERN COPPER CORP	2823777	88.93	216	19,208.88
0.01	BSY	BENTLEY SYSTEM-B	BMC1PR6	43.90	402	17,647.80
0.01	FOX	FOX CORP - CLASS B	BJJMGY5	54.07	315	17,032.05
0.01	EDR	ENDEAVOR GROUP-A	BJQ05Y5	32.59	487	15,871.33
0.01	SNDK	SANDISK CORP	BSNPZV3	46.85	277	12,977.45
0.01	TPG	TPG INC	BNKBB55	55.16	217	11,969.72
0.01	WMG	WARNER MUSIC-A	BLGJ610	33.70	315	10,615.50
0.01	WLK	Westlake Corporation	B01ZP20	112.30	82	9,208.60
0.01	MRP	MILLROSE PROPERTIES	BRCFZ51	22.86	316	7,223.76
0.01	GFS	GLOBALFOUNDRIES INC	BMW7F63	38.77	176	6,823.52
0.00	BF/A	BROWN-FORMAN CORP-CLASS A	2146816	33.03	114	3,765.42
0.00	UI	UBIQUITI INC	BK9Z6V8	341.69	10	3,416.90
0.00	RKT	ROCKET COS INC-CLASS A	BMD6Y84	14.00	148	2,072.00
0.00	LEN/B	LENNAR CORP - B SHS	2578293	115.70	15	1,735.50
0.00	SIRI	SIRIUS XM HOLDINGS INC	BQWS627	24.19	4	94.34

Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Documents

Latest Premium / Discount As of 02/28/25

NAV	$35.52
Market Price	$35.48
Premium / (Discount)	($0.04)

Current View 2025 Q1 As of 02/28/25

Days at Premium	26
Days at NAV	0
Days at Discount	13
Greatest Premium	0.41%
Greatest Discount	-0.33%

Daily Premium / Discount History As of 02/28/25

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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.

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

As of 1/31, ONOF was rated against the following numbers of Tactical Allocation funds over the following time periods: 237 during the last 3 years. With respect to these Tactical Allocation funds, ONOF received a Morningstar Rating of 5 stars. Past performance is not indicative of future results.

© 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Investing involves risk, including the possible loss of principal. There is no guarantee that the Fund will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the Fund’s ability to adjust its exposure to the required levels in order to track the Underlying Index.

The Fund is based on the “modern portfolio theory” approach to asset allocation, which is a framework for determining the allocation of a portfolio with the goal of achieving an intended investment outcome based on a given level of risk. This framework relies heavily on the anticipated volatilities, investment returns and correlations of particular asset classes or securities. There is no guarantee that the Underlying Index will outperform any alternative strategy that might be employed in respect of the component assets or that past volatilities and correlations of particular asset classes or securities will be indicative of future results. ONOF 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 Adaptive Wealth Strategies® (AWS), nor does AWS 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 AWS.