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AUSF

Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 384 Mid-Cap Value funds, based on risk-adjusted returns as of 02/28/2025

 

Reasons to Consider AUSF

Outperformance Potential

AUSF seeks to outperform traditional market capitalization weighted indexes by allocating across three factors – minimum volatility, value, and momentum – that have historically demonstrated advantages compared to broad benchmark indexes.

Dynamic Factor Allocation

AUSF either allocates to two factors with a 50% / 50% weighting, or all three factors with a weighting of 40% / 40% / 20% depending on the trailing returns of each factor.

Tax Efficient

Dynamically allocating across multiple factors within one ETF can result in tax efficiencies compared to buying and selling individual factor ETFs.

Key Information As of 03/18/25

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $450.57 million
NAV $43.12
Fact Sheet View the document

ETF Summary

The Global X Adaptive U.S. Factor ETF (AUSF) seeks to outperform traditional cap-weighted indexes by employing a dynamic multi-factor investment strategy that allocates across three factors: minimum volatility, value, and momentum.

ETF Objective

The Global X Adaptive U.S. Factor ETF (AUSF) 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. Factor Index.

Trading Details As of 03/18/25

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 10,450,002
Number of Holdings 193
30-Day Median Bid-Ask Spread 0.24%

Distributions As of 03/18/25

30-Day SEC Yield 2.56%
Distribution Frequency Quarterly

ETF Prices As of 03/18/25

NAV $43.12 Daily Change $0.00 0.00%
Market Price $43.16 Daily Change -$0.08 -0.19%

Performance History

As of recent
(12/31/24)
As of recent
(12/31/24)
Fund NAV Market Price Index
1 Year 16.15% 16.06% 16.54%
3 Years 12.33% 12.29% 12.70%
5 Years 12.83% 12.81% 13.19%
Since Inception 11.76% 11.74% 12.12%
1 Year 15.53% 15.25% 15.90%
3 Years 15.86% 15.83% 16.24%
5 Years 16.59% 16.54% 16.98%
Since Inception 12.30% 12.27% 12.67%
Year-to-Date 16.15% 16.06% 16.54%
1 Month -6.24% -6.25% -6.25%
3 Months -0.50% -0.67% -0.45%
Since Inception 102.75% 102.59% 106.98%
Year-to-Date 5.07% 4.97% 5.14%
1 Month 1.21% 0.91% 1.25%
3 Months -1.49% -1.59% -1.43%
Since Inception 113.02% 112.67% 117.62%

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 03/18/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
2.31 T AT&T INC 2831811 26.61 393,841 10,480,109.01
2.04 VZ VERIZON COMMUNIC 2090571 44.23 208,749 9,232,968.27
1.82 TMUS T-MOBILE US INC B94Q9V0 260.73 31,707 8,266,966.11
1.74 CME CME GROUP INC 2965839 266.49 29,631 7,896,365.19
1.72 BRK/B BERKSHIRE HATH-B 2073390 523.14 14,913 7,801,586.82
1.70 RSG REPUBLIC SERVICES INC 2262530 234.04 32,837 7,685,171.48
1.63 COR CENCORA INC 2795393 264.14 27,990 7,393,278.60
1.63 RTX RTX CORPORATION BM5M5Y3 132.69 55,624 7,380,748.56
1.63 ICE INTERCONTINENTAL BFSSDS9 172.84 42,690 7,378,539.60
1.58 V VISA INC-CLASS A SHARES B2PZN04 334.77 21,376 7,156,043.52
1.54 MMC MARSH & MCLENNAN COS 2567741 232.16 30,077 6,982,676.32
1.54 K KELLANOVA 2486813 82.35 84,749 6,979,080.15
1.54 ACI ALBERTSONS COS-A BYNQ369 22.02 315,881 6,955,699.62
1.51 BSX BOSTON SCIENTIFIC CORP 2113434 99.22 68,976 6,843,798.72
1.51 CSCO CISCO SYSTEMS INC 2198163 60.30 113,292 6,831,507.60
1.49 EDR ENDEAVOR GROUP-A BJQ05Y5 29.00 232,673 6,747,517.00
1.49 JNJ JOHNSON & JOHNSON 2475833 164.25 41,028 6,738,849.00
1.48 WM WASTE MANAGEMENT INC 2937667 225.87 29,617 6,689,591.79
1.47 ADP AUTOMATIC DATA PROCESSING 2065308 295.93 22,528 6,666,711.04
1.43 LMT LOCKHEED MARTIN CORP 2522096 469.28 13,851 6,499,997.28
1.43 LIN LINDE PLC BNZHB81 460.71 14,039 6,467,907.69
1.42 JNPR JUNIPER NETWORKS INC 2431846 35.99 178,354 6,418,960.46
1.40 WMT WALMART INC 2936921 85.59 74,133 6,345,043.47
1.40 DOX AMDOCS LTD 2256908 89.28 70,967 6,335,933.76
1.32 GD GENERAL DYNAMICS CORP 2365161 267.52 22,344 5,977,466.88
1.26 EA ELECTRONIC ARTS INC 2310194 141.87 40,253 5,710,693.11
1.18 KO COCA-COLA CO/THE 2206657 69.38 77,057 5,346,214.66
1.03 CBOE CBOE GLOBAL MARKETS INC B5834C5 219.66 21,141 4,643,832.06
1.01 MRK MERCK & CO. INC. 2778844 94.72 48,520 4,595,814.40
0.97 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 421.90 10,431 4,400,838.90
0.76 MCD MCDONALD'S CORP 2550707 303.60 11,383 3,455,878.80
0.67 MO ALTRIA GROUP INC 2692632 58.34 52,198 3,045,231.32
0.65 UNM UNUM GROUP 2433842 80.88 36,420 2,945,649.60
0.65 CVS CVS HEALTH CORP 2577609 67.57 43,497 2,939,092.29
0.58 WPC WP CAREY INC B826YT8 62.01 42,660 2,645,346.60
0.58 X UNITED STATES STEEL CORP 2824770 41.70 63,202 2,635,523.40
0.57 NXST Nexstar Media Group Inc 2949758 174.52 14,897 2,599,824.44
0.57 RPRX ROYALTY PHARMA PLC- CL A BMVP7Y0 33.41 76,635 2,560,375.35
0.57 VICI VICI PROPERTIES INC BYWH073 32.68 78,281 2,558,223.08
0.56 KMI KINDER MORGAN INC B3NQ4P8 27.52 92,893 2,556,415.36
0.56 LNC LINCOLN NATIONAL CORP 2516378 36.56 69,721 2,548,999.76
0.56 DTM DT MIDSTREAM INC BN7L880 96.08 26,492 2,545,351.36
0.56 CTRE CARETRUST REIT INC BMP8TL6 28.89 87,077 2,515,654.53
0.55 UGI UGI CORP 2910118 32.92 76,262 2,510,545.04
0.55 FOXA FOX CORP - CLASS A BJJMGL2 52.38 47,894 2,508,687.72
0.55 TSN TYSON FOODS INC-CL A 2909730 60.51 41,450 2,508,139.50
0.55 TAP MOLSON COORS-B B067BM3 58.94 42,003 2,475,656.82
0.55 WU WESTERN UNION CO B1F76F9 10.76 229,671 2,471,259.96
0.54 AGNC AGNC INVESTMENT CORP BYYHJL8 10.39 237,391 2,466,492.49
0.54 LBRDK LIBERTY BROADBAND-C BRTLC06 81.95 29,801 2,442,191.95
0.54 AM ANTERO MIDSTREAM CORP BJBT0Q4 17.45 139,946 2,442,057.70
0.54 STWD STARWOOD PROPERT B3PQ520 20.12 121,248 2,439,509.76
0.53 MDT MEDTRONIC PLC BTN1Y11 92.21 26,241 2,419,682.61
0.53 KHC KRAFT HEINZ CO/THE BYRY499 30.39 79,303 2,410,018.17
0.53 HII HUNTINGTON INGAL B40SSC9 208.57 11,506 2,399,806.42
0.53 RITM RITHM CAPITAL CORP BRJ9GW0 11.71 204,715 2,397,212.65
0.52 CAG CONAGRA BRANDS INC 2215460 26.00 91,075 2,367,950.00
0.52 LEA LEAR CORP B570P91 96.29 24,415 2,350,920.35
0.51 BIIB BIOGEN INC 2455965 143.09 16,139 2,309,329.51
0.51 BEN FRANKLIN RESOURCES INC 2350684 19.86 115,994 2,303,640.84
0.51 F FORD MOTOR CO 2615468 9.95 229,798 2,286,490.10
0.50 EMN EASTMAN CHEMICAL CO 2298386 91.27 25,010 2,282,662.70
0.50 AL AIR LEASE CORP B3XS562 46.55 48,996 2,280,763.80
0.50 OGN ORGANON & CO BLDC8J4 15.70 145,225 2,280,032.50
0.50 EG EVEREST GROUP LTD 2556868 359.62 6,336 2,278,552.32
0.50 NOV NOV INC BN2RYW9 14.68 154,383 2,266,342.44
0.50 MOS MOSAIC CO/THE B3NPHP6 27.20 82,903 2,254,961.60
0.50 SON SONOCO PRODUCTS CO 2821395 47.41 47,548 2,254,250.68
0.50 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 75.09 29,894 2,244,740.46
0.49 CMCSA COMCAST CORP-CLASS A 2044545 36.01 62,107 2,236,473.07
0.49 BR BROADRIDGE FINL B1VP7R6 231.23 9,631 2,226,976.13
0.49 BG BUNGE GLOBAL SA BQ6BPG9 74.71 29,580 2,209,921.80
0.49 ESNT ESSENT GROUP LTD BFWGXR8 55.15 40,062 2,209,419.30
0.49 BKR BAKER HUGHES CO BDHLTQ5 43.70 50,316 2,198,809.20
0.48 RDN RADIAN GROUP INC 2173911 31.42 69,382 2,179,982.44
0.48 ADM ARCHER-DANIELS-MIDLAND CO 2047317 47.68 45,613 2,174,827.84
0.48 MTG MGIC INVESTMENT CORP 2548616 23.20 93,693 2,173,677.60
0.48 IPG INTERPUBLIC GRP 2466321 26.56 81,708 2,170,164.48
0.48 RNR RENAISSANCERE 2728429 240.61 9,006 2,166,933.66
0.48 CNC CENTENE CORP 2807061 59.66 36,287 2,164,882.42
0.48 PRU PRUDENTIAL FINANCIAL INC 2819118 109.74 19,647 2,156,061.78
0.48 AFG AMER FINL GROUP 2134532 125.48 17,168 2,154,240.64
0.47 THC TENET HEALTHCARE CORP B8DMK08 125.33 17,140 2,148,156.20
0.47 CMA COMERICA INC 2212870 58.33 36,768 2,144,677.44
0.47 M MACY'S INC 2345022 13.56 157,863 2,140,622.28
0.47 GM GENERAL MOTORS CO B665KZ5 48.67 43,692 2,126,489.64
0.47 DOW DOW INC BHXCF84 37.61 56,467 2,123,723.87
0.46 SNX TD SYNNEX CORP 2002554 128.85 16,298 2,099,997.30
0.46 UBSI UNITED BANKSHARES INC 2905794 34.89 60,157 2,098,877.73
0.46 BWA BORGWARNER INC 2111955 28.82 72,500 2,089,450.00
0.46 ARW ARROW ELECTRONICS INC 2051404 107.43 19,334 2,077,051.62
0.46 PB PROSPERITY BANCSHARES INC 2310257 70.62 29,256 2,066,058.72
0.45 ELAN ELANCO ANIMAL HEALTH INC BF5L3T2 10.81 190,471 2,058,991.51
0.45 AVT AVNET INC 2066505 48.60 42,353 2,058,355.80
0.45 KRC KILROY REALTY CORP 2495529 34.16 60,234 2,057,593.44
0.45 HOG HARLEY-DAVIDSON INC 2411053 25.21 81,562 2,056,178.02
0.45 CHRD CHORD ENERGY CORP BLDDYB1 108.72 18,875 2,052,090.00
0.45 KBH KB HOME 2485070 60.27 33,961 2,046,829.47
0.45 RF REGIONS FINANCIAL CORP B01R311 21.48 94,769 2,035,638.12
0.45 VNOM VIPER ENERGY INC BR1YSF0 43.79 46,371 2,030,586.09
0.45 HBAN HUNTINGTON BANCSHARES INC 2445966 14.76 136,705 2,017,765.80
0.45 FNB FNB CORP 2041308 13.61 148,219 2,017,260.59
0.44 FANG DIAMONDBACK ENERGY INC B7Y8YR3 155.00 12,971 2,010,505.00
0.44 BBY BEST BUY CO INC 2094670 73.13 27,464 2,008,442.32
0.44 CFG CITIZENS FINANCIAL GROUP BQRX1X3 40.96 49,015 2,007,654.40
0.44 TFC TRUIST FINANCIAL CORP BKP7287 40.85 49,036 2,003,120.60
0.44 OZK BANK OZK BZ56Q65 44.19 45,218 1,998,183.42
0.44 HPQ HP INC BYX4D52 28.70 69,563 1,996,458.10
0.44 LAD LITHIA MOTORS INC 2515030 298.19 6,665 1,987,436.35
0.44 SLG SL GREEN REALTY CORP BPGKM57 57.83 34,310 1,984,147.30
0.44 COLB COLUMBIA BANKING 2176608 24.74 80,106 1,981,822.44
0.44 C CITIGROUP INC 2297907 70.22 28,218 1,981,467.96
0.44 WBS WEBSTER FINANCIAL CORP 2945143 50.93 38,861 1,979,190.73
0.44 VTRS VIATRIS INC BMWS3X9 9.52 206,871 1,969,411.92
0.43 MTH MERITAGE HOMES CORP 2601326 69.86 28,090 1,962,367.40
0.43 UMBF UMB FINANCIAL CORP 2918510 102.36 19,115 1,956,611.40
0.43 OMF ONEMAIN HOLDINGS INC BYSZB89 48.34 40,356 1,950,809.04
0.43 CADE CADENCE BANK BMCS168 30.28 64,180 1,943,370.40
0.42 ZION ZIONS BANCORP NA 2989828 48.23 39,680 1,913,766.40
0.41 SIG SIGNET JEWELERS LTD B3CTNK6 48.30 38,820 1,875,006.00
0.41 CE CELANESE CORP B05MZT4 58.52 31,537 1,845,545.24
0.40 FMC FMC CORP 2328603 42.83 42,317 1,812,437.11
0.40 GAP GAP INC/THE 2360326 19.32 93,536 1,807,115.52
0.39 SWKS SKYWORKS SOLUTIONS INC 2961053 70.88 25,049 1,775,473.12
0.38 NE NOBLE CORP PLC BN2QTL0 24.56 69,491 1,706,698.96
0.36 WHR WHIRLPOOL CORP 2960384 93.21 17,454 1,626,887.34
0.34 PVH PVH CORP B3V9F12 64.79 23,955 1,552,044.45
0.34 CIVI CIVITAS RESOURCES INC BMG9GG2 34.67 44,167 1,531,269.89
0.34 ACHC ACADIA HEALTHCARE CO INC B65VZ37 29.14 52,066 1,517,203.24
0.33 HPE HEWLETT PACKA BYVYWS0 15.93 94,372 1,503,345.96
0.32 YUM YUM! BRANDS INC 2098876 157.30 9,302 1,463,204.60
0.21 PGR PROGRESSIVE CORP 2705024 283.28 3,352 949,554.56
0.20 OTHER PAYABLE & RECEIVABLES 1.00 917,117 917,116.82
0.18 ABBV ABBVIE INC B92SR70 213.85 3,899 833,801.15
0.18 PG PROCTER & GAMBLE CO/THE 2704407 167.71 4,963 832,344.73
0.15 TW TRADEWEB MARKE-A BJXMVK2 140.43 4,980 699,341.40
0.14 KR KROGER CO 2497406 65.99 9,614 634,427.86
0.14 COST COSTCO WHOLESALE CORP 2701271 898.05 689 618,756.45
0.14 SNA SNAP-ON INC 2818740 329.26 1,855 610,777.30
0.11 GRMN GARMIN LTD B3Z5T14 206.63 2,469 510,169.47
0.11 MCK MCKESSON CORP 2378534 661.61 745 492,899.45
0.11 SO SOUTHERN CO/THE 2829601 90.23 5,459 492,565.57
0.11 WMB WILLIAMS COS INC 2967181 58.40 8,433 492,487.20
0.11 DUK DUKE ENERGY CORP B7VD3F2 120.76 4,007 483,885.32
0.11 AFL AFLAC INC 2026361 107.36 4,488 481,831.68
0.10 WRB WR BERKLEY CORP 2093644 63.40 7,309 463,390.60
0.10 VRSN VERISIGN INC 2142922 239.82 1,912 458,535.84
0.10 ORI OLD REPUBLIC INTL CORP 2659109 37.26 11,989 446,710.14
0.10 MA MASTERCARD INC - A B121557 530.19 825 437,406.75
0.10 ED CONSOLIDATED EDISON INC 2216850 107.81 4,038 435,336.78
0.09 NOC NORTHROP GRUMMAN CORP 2648806 489.81 856 419,277.36
0.09 AAPL APPLE INC 2046251 212.69 1,960 416,872.40
0.09 CAH CARDINAL HEALTH INC 2175672 131.46 3,165 416,070.90
0.09 ECL ECOLAB INC 2304227 253.70 1,623 411,755.10
0.09 CHE CHEMED CORP 2190084 606.30 678 411,071.40
0.09 WTW WILLIS TOWERS WATSON PLC BDB6Q21 334.97 1,227 411,008.19
0.09 ROP ROPER TECHNOLOGIES INC 2749602 576.86 695 400,917.70
0.09 AMGN AMGEN INC 2023607 318.65 1,253 399,268.45
0.09 GDDY GODADDY INC - CLASS A BWFRFC6 178.25 2,203 392,684.75
0.09 FI FISERV INC 2342034 216.94 1,798 390,058.12
0.09 VRSK VERISK ANALYTICS INC B4P9W92 288.93 1,348 389,477.64
0.09 PNW PINNACLE WEST CAPITAL 2048804 93.38 4,135 386,126.30
0.09 INGR INGREDION INC B7K24P7 132.05 2,921 385,718.05
0.09 DGX QUEST DIAGNOSTICS INC 2702791 172.45 2,223 383,356.35
0.08 WEC WEC ENERGY GROUP INC BYY8XK8 107.81 3,525 380,030.25
0.08 IBM IBM 2005973 246.95 1,537 379,562.15
0.08 CI THE CIGNA GROUP BHJ0775 322.43 1,175 378,855.25
0.08 WELL WELLTOWER INC BYVYHH4 149.97 2,526 378,824.22
0.08 AJG ARTHUR J GALLAGHER & CO 2359506 329.66 1,140 375,812.40
0.08 CVX CHEVRON CORP 2838555 160.81 2,332 375,008.92
0.08 AEP AMERICAN ELECTRIC POWER 2026242 105.99 3,529 374,038.71
0.08 XOM EXXON MOBIL CORP 2326618 113.64 3,288 373,648.32
0.08 PKG PACKAGING CORP OF AMERICA 2504566 197.61 1,854 366,368.94
0.08 HIG HARTFORD INSURANCE GROUP 2476193 118.91 3,068 364,815.88
0.08 CMS CMS ENERGY CORP 2219224 73.50 4,961 364,633.50
0.08 CB CHUBB LTD B3BQMF6 295.66 1,229 363,366.14
0.08 CL COLGATE-PALMOLIVE CO 2209106 89.49 4,051 362,523.99
0.08 TRV TRAVELERS COS INC/THE 2769503 260.50 1,389 361,834.50
0.08 AON AON PLC-CLASS A BLP1HW5 390.05 918 358,065.90
0.08 ATO ATMOS ENERGY CORP 2315359 150.56 2,350 353,816.00
0.08 L LOEWS CORP 2523022 86.94 4,059 352,889.46
0.08 PPL PPL CORP 2680905 34.82 10,092 351,403.44
0.08 AME AMETEK INC 2089212 176.08 1,993 350,927.44
0.08 EVRG EVERGY INC BFMXGR0 67.10 5,203 349,121.30
0.08 ATR APTARGROUP INC 2045247 146.30 2,371 346,877.30
0.08 TJX TJX COMPANIES INC 2989301 115.26 2,995 345,203.70
0.08 NI NISOURCE INC 2645409 38.94 8,780 341,893.20
0.07 FE FIRSTENERGY CORP 2100920 39.90 8,373 334,082.70
0.07 ETR ENTERGY CORP 2317087 83.48 3,993 333,335.64
0.07 CHD CHURCH & DWIGHT CO INC 2195841 107.38 3,075 330,193.50
0.07 BDX BECTON DICKINSON AND CO 2087807 232.12 1,376 319,397.12
0.07 HON HONEYWELL INTL 2020459 209.74 1,487 311,883.38
0.06 HOLX HOLOGIC INC 2433530 61.98 4,591 284,550.18
0.06 LDOS LEIDOS HOLDINGS INC BDV82B8 138.66 2,029 281,341.14
0.01 CASH 1.00 38,239 38,239.16
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 02/28/25

Sector Weight (%)
Financials 24.9
Communication Services 11.6
Health Care 11.2
Industrials 10.8
Consumer Staples 10.2
Information Technology 9.0
Consumer Discretionary 7.8
Materials 5.3
Energy 5.0
Real Estate 2.7
Utilities 1.7

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Financial Services 12.1
Banks 7.2
Food, Beverage & Tobacco 6.5
Technology Hardware & Equipment 6.4
Telecommunication Services 6.2
Insurance 5.8
Health Care Equipment & Services 5.8
Capital Goods 5.6
Media & Entertainment 5.5
Materials 5.4
Commercial & Professional Services 5.4
Other 28.1

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 03/18/25

Return on Equity 14.20%
Weighted Avg. Market Cap 122,691 M
2024 2025
Price-to-earnings 12.91 12.49
Price-to-book value 1.86 1.70

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 02/28/25

Versus Beta
S&P 500 0.79
NASDAQ-100 0.48
MSCI EAFE 0.69
MSCI Emg. Mkts 0.40
Standard Deviation 15.80%

Source: new windowAltaVista Research, LLC

ETF Documents

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 2/28, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 384 during the last 3 years, 365 during the last 5 years. With respect to these Mid-Cap Value funds, AUSF received a Morningstar Rating of 5 stars for both periods. 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. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index. Performance of companies in the financial sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets.  AUSF 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. Beginning October 15, 2020, 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. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times.

Since the Fund’s shares did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.

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.