Model Portfolios | News | Contact

AUSF

Adaptive U.S. Factor ETF

Morningstar Rating™ - Overall rating out of 379 Mid-Cap Value funds, based on risk-adjusted returns as of 04/30/2024

 

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 05/13/24

Inception Date 08/24/18
Total Expense Ratio 0.27%
Net Assets $255.92 million
NAV $39.92
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 05/10/24

Ticker AUSF
Bloomberg Index Ticker AWSUSF
CUSIP 37954Y574
ISIN US37954Y5740
Primary Exchange NYSE Arca
Shares Outstanding 6,410,002
Number of Holdings 191
30-Day Median Bid-Ask Spread 0.25%

Distributions As of 05/13/24

30-Day SEC Yield 2.77%
Distribution Frequency Quarterly

ETF Prices As of 05/13/24

NAV $39.92 Daily Change $0.05 0.13%
Market Price $39.94 Daily Change $0.05 0.13%

Performance History

As of recent
(03/31/24)
As of recent
(03/31/24)
Fund NAV Market Price Index
1 Year 37.68% 37.74% 38.28%
3 Years 15.43% 15.28% 15.80%
5 Years 14.31% 14.27% 14.68%
Since Inception 12.45% 12.42% 12.82%
1 Year 29.67% 29.58% 30.19%
3 Years 12.22% 12.19% 12.58%
5 Years 12.53% 12.49% 12.89%
Since Inception 11.32% 11.30% 11.69%
Year-to-Date 10.58% 10.44% 10.71%
1 Month 4.68% 4.47% 4.72%
3 Months 10.58% 10.44% 10.71%
Since Inception 93.02% 92.79% 96.63%
Year-to-Date 5.44% 5.34% 5.57%
1 Month -4.64% -4.62% -4.64%
3 Months 3.66% 3.44% 3.78%
Since Inception 84.06% 83.87% 87.50%

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 05/13/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
1.93 VZ VERIZON COMMUNIC 2090571 40.54 121,864 4,940,366.56
1.76 IBM IBM 2005973 167.56 26,918 4,510,380.08
1.71 T AT&T INC 2831811 17.26 253,481 4,375,082.06
1.51 JNJ JOHNSON & JOHNSON 2475833 151.22 25,529 3,860,495.38
1.50 BRK/B BERKSHIRE HATH-B 2073390 411.22 9,318 3,831,747.96
1.49 LMT LOCKHEED MARTIN CORP 2522096 470.56 8,122 3,821,888.32
1.49 GD GENERAL DYNAMICS CORP 2365161 293.53 12,988 3,812,367.64
1.49 MRK MERCK & CO. INC. 2778844 129.29 29,477 3,811,081.33
1.48 MMC MARSH & MCLENNAN COS 2567741 205.55 18,461 3,794,658.55
1.47 TMUS T-MOBILE US INC B94Q9V0 163.35 23,084 3,770,771.40
1.47 WM WASTE MANAGEMENT INC 2937667 210.82 17,883 3,770,094.06
1.47 V VISA INC-CLASS A SHARES B2PZN04 279.39 13,491 3,769,250.49
1.46 WMT WALMART INC 2936921 60.41 61,842 3,735,875.22
1.46 ACI ALBERTSONS COS-A BYNQ369 20.69 180,481 3,734,151.89
1.45 AJG ARTHUR J GALLAGHER & CO 2359506 249.50 14,912 3,720,544.00
1.44 RSG REPUBLIC SERVICES INC 2262530 188.23 19,510 3,672,367.30
1.40 LIN LINDE PLC BNZHB81 434.78 8,236 3,580,848.08
1.39 ROP ROPER TECHNOLOGIES INC 2749602 521.76 6,807 3,551,620.32
1.38 CME CME GROUP INC 2965839 209.92 16,789 3,524,346.88
1.35 COR CENCORA INC 2795393 222.92 15,458 3,445,897.36
1.32 DOX AMDOCS LTD 2256908 84.00 40,277 3,383,268.00
1.30 MCD MCDONALD'S CORP 2550707 271.32 12,256 3,325,297.92
1.28 CSCO CISCO SYSTEMS INC 2198163 48.68 67,433 3,282,638.44
1.16 EA ELECTRONIC ARTS INC 2310194 126.58 23,358 2,956,655.64
1.12 NSIT INSIGHT ENTERPRISES INC 2475060 203.73 14,122 2,877,075.06
1.12 VRSN VERISIGN INC 2142922 171.09 16,723 2,861,138.07
1.11 KO COCA-COLA CO/THE 2206657 63.58 44,690 2,841,390.20
1.04 PEP PEPSICO INC 2681511 180.90 14,698 2,658,868.20
0.90 PG PROCTER & GAMBLE CO/THE 2704407 165.87 13,825 2,293,152.75
0.89 CBOE CBOE GLOBAL MARKETS INC B5834C5 182.15 12,524 2,281,183.98
0.78 BR BROADRIDGE FINL B1VP7R6 197.80 10,134 2,004,505.20
0.64 CASH 1.00 1,628,737 1,628,737.16
0.61 MO ALTRIA GROUP INC 2692632 45.04 34,842 1,569,283.68
0.60 GILD GILEAD SCIENCES INC 2369174 67.54 22,786 1,538,966.44
0.60 KMI KINDER MORGAN INC B3NQ4P8 19.15 79,916 1,530,391.40
0.58 WMB WILLIAMS COS INC 2967181 39.66 37,671 1,494,031.86
0.58 DTM DT MIDSTREAM INC BN7L880 64.74 22,741 1,472,252.34
0.57 FMC FMC CORP 2328603 66.71 21,882 1,459,748.22
0.57 JXN JACKSON FINANCIAL INC-A BMFX6P4 75.33 19,306 1,454,320.98
0.57 OGN ORGANON & CO BLDC8J4 20.94 69,257 1,450,241.58
0.56 CHE CHEMED CORP 2190084 568.79 2,511 1,428,231.69
0.56 ALB ALBEMARLE CORP 2046853 131.51 10,791 1,419,124.41
0.55 COLB COLUMBIA BANKING 2176608 20.22 70,170 1,418,837.40
0.55 OZK BANK OZK BZ56Q65 48.20 29,346 1,414,477.20
0.55 AME AMETEK INC 2089212 170.10 8,312 1,413,871.20
0.55 GEN GEN DIGITAL INC BJN4XN5 24.00 58,851 1,412,424.00
0.55 KBH KB HOME 2485070 70.10 20,147 1,412,304.70
0.55 SYF SYNCHRONY FINANCIAL BP96PS6 44.91 31,101 1,396,745.91
0.55 WAL WESTERN ALLIANCE BANCORP B0CCGJ4 63.10 22,114 1,395,393.40
0.54 TXN TEXAS INSTRUMENTS INC 2885409 187.82 7,409 1,391,558.38
0.54 IP INTERNATIONAL PAPER CO 2465254 39.52 35,202 1,391,183.04
0.54 FITB FIFTH THIRD BANCORP 2336747 38.20 36,191 1,382,496.20
0.54 ONB OLD NATIONAL BANCORP 2658441 17.34 79,469 1,377,992.46
0.54 UAL UNITED AIRLINES B4QG225 54.40 25,320 1,377,408.00
0.54 FHN FIRST HORIZON CORP 2341484 15.79 87,097 1,375,261.63
0.54 PFE PFIZER INC 2684703 28.44 48,270 1,372,798.80
0.54 ZION ZIONS BANCORP NA 2989828 43.94 31,175 1,369,829.50
0.53 ABG ASBURY AUTOMOTIVE GROUP 2855855 234.85 5,824 1,367,766.40
0.53 GLW CORNING INC 2224701 34.28 39,835 1,365,543.80
0.53 MTB M & T BANK CORP 2340168 153.79 8,878 1,365,347.62
0.53 AVT AVNET INC 2066505 52.56 25,970 1,364,983.20
0.53 MAN MANPOWERGROUP INC 2562490 77.89 17,513 1,364,087.57
0.53 FNB FNB CORP 2041308 14.04 96,417 1,353,694.68
0.53 CRBG COREBRIDGE FINANCIAL INC BMTX0G9 29.01 46,521 1,349,574.21
0.53 ALLY ALLY FINANCIAL INC B72XK05 39.66 34,026 1,349,471.16
0.53 LBRDK LIBERTY BROADBAND-C BRTLC06 52.97 25,452 1,348,192.44
0.53 C CITIGROUP INC 2297907 63.40 21,215 1,345,031.00
0.53 MTG MGIC INVESTMENT CORP 2548616 21.08 63,682 1,342,416.56
0.52 ETRN EQUITRANS MIDSTREAM CORP BFMWBV6 13.37 100,008 1,337,106.96
0.52 CFG CITIZENS FINANCIAL GROUP BQRX1X3 35.94 37,157 1,335,422.58
0.52 BMY BRISTOL-MYERS SQUIBB CO 2126335 45.06 29,511 1,329,765.66
0.52 CADE CADENCE BANK BMCS168 28.83 46,096 1,328,947.68
0.52 RITM RITHM CAPITAL CORP BRJ9GW0 11.31 117,318 1,326,866.58
0.52 HPQ HP INC BYX4D52 29.94 44,298 1,326,282.12
0.52 OMF ONEMAIN HOLDINGS INC BYSZB89 50.72 26,127 1,325,161.44
0.52 AGNC AGNC INVESTMENT CORP BYYHJL8 9.70 136,519 1,324,234.30
0.52 RDN RADIAN GROUP INC 2173911 31.43 42,075 1,322,417.25
0.52 PB PROSPERITY BANCSHARES INC 2310257 63.43 20,780 1,318,075.40
0.52 CMA COMERICA INC 2212870 53.19 24,776 1,317,835.44
0.52 PNC PNC FINANCIAL SE 2692665 158.05 8,332 1,316,872.60
0.51 STWD STARWOOD PROPERT B3PQ520 20.26 64,922 1,315,319.72
0.51 WFC WELLS FARGO & CO 2649100 61.26 21,461 1,314,700.86
0.51 GM GENERAL MOTORS CO B665KZ5 45.17 29,063 1,312,775.71
0.51 SNX TD SYNNEX CORP 2002554 121.99 10,740 1,310,172.60
0.51 HBAN HUNTINGTON BANCSHARES INC 2445966 13.96 93,851 1,310,159.96
0.51 AM ANTERO MIDSTREAM CORP BJBT0Q4 14.46 90,413 1,307,371.98
0.51 RF REGIONS FINANCIAL CORP B01R311 19.93 65,436 1,304,139.48
0.51 KRC KILROY REALTY CORP 2495529 34.44 37,867 1,304,139.48
0.51 ARW ARROW ELECTRONICS INC 2051404 128.64 10,121 1,301,965.44
0.51 UNM UNUM GROUP 2433842 52.91 24,600 1,301,586.00
0.51 LAD LITHIA MOTORS INC 2515030 274.77 4,737 1,301,585.49
0.51 EMN EASTMAN CHEMICAL CO 2298386 101.02 12,859 1,299,016.18
0.51 MDT MEDTRONIC PLC BTN1Y11 83.52 15,510 1,295,395.20
0.50 USB US BANCORP 2736035 41.49 31,048 1,288,181.52
0.50 CIVI CIVITAS RESOURCES INC BMG9GG2 76.11 16,923 1,288,009.53
0.50 GPS GAP INC/THE 2360326 22.26 57,840 1,287,518.40
0.50 OKE ONEOK INC 2130109 80.60 15,890 1,280,734.00
0.50 ADM ARCHER-DANIELS-MIDLAND CO 2047317 62.63 20,427 1,279,343.01
0.50 COF CAPITAL ONE FINA 2654461 142.20 8,970 1,275,534.00
0.50 UBSI UNITED BANKSHARES INC 2905794 34.16 37,315 1,274,680.40
0.50 KEY KEYCORP 2490911 14.88 85,526 1,272,626.88
0.50 HPE HEWLETT PACKA BYVYWS0 17.38 73,190 1,272,042.20
0.50 CE CELANESE CORP B05MZT4 160.24 7,935 1,271,504.40
0.50 CAG CONAGRA BRANDS INC 2215460 30.95 40,945 1,267,247.75
0.50 CMC COMMERCIAL METALS CO 2213260 57.37 22,089 1,267,245.93
0.49 PRGO PERRIGO CO PLC BGH1M56 30.80 41,082 1,265,325.60
0.49 SIG SIGNET JEWELERS LTD B3CTNK6 99.44 12,715 1,264,379.60
0.49 F FORD MOTOR CO 2615468 12.33 102,505 1,263,886.65
0.49 VTRS VIATRIS INC BMWS3X9 11.36 111,184 1,263,050.24
0.49 BG BUNGE GLOBAL SA BQ6BPG9 107.61 11,719 1,261,081.59
0.49 RPRX ROYALTY PHARMA PLC- CL A BMVP7Y0 28.38 44,435 1,261,065.30
0.49 M MACY'S INC 2345022 19.54 64,512 1,260,564.48
0.49 LYB LYONDELLBASELL INDU-CL A B3SPXZ3 101.32 12,375 1,253,835.00
0.49 CMCSA COMCAST CORP-CLASS A 2044545 39.70 31,540 1,252,138.00
0.49 CHK CHESAPEAKE ENERGY CORP BMZ5LZ5 88.39 14,160 1,251,602.40
0.49 NOV NOV INC BN2RYW9 18.76 66,412 1,245,889.12
0.49 AL AIR LEASE CORP B3XS562 48.88 25,417 1,242,382.96
0.49 BKR BAKER HUGHES CO BDHLTQ5 32.41 38,308 1,241,562.28
0.48 CHRD CHORD ENERGY CORP BLDDYB1 181.10 6,837 1,238,180.70
0.48 WBS WEBSTER FINANCIAL CORP 2945143 45.49 27,015 1,228,912.35
0.48 AGCO AGCO CORP 2010278 115.96 10,555 1,223,957.80
0.48 KHC KRAFT HEINZ CO/THE BYRY499 36.49 33,444 1,220,371.56
0.47 BBY BEST BUY CO INC 2094670 74.70 16,187 1,209,168.90
0.47 BCC BOISE CASCADE CO B9BP4R1 135.22 8,899 1,203,322.78
0.47 PTEN PATTERSON-UTI ENERGY INC 2672537 10.94 109,285 1,195,577.90
0.47 MOS MOSAIC CO/THE B3NPHP6 29.46 40,494 1,192,953.24
0.47 X UNITED STATES STEEL CORP 2824770 37.97 31,333 1,189,714.01
0.45 HP HELMERICH & PAYNE 2420101 38.73 29,539 1,144,045.47
0.44 TAP MOLSON COORS-B B067BM3 58.76 19,289 1,133,421.64
0.43 MCK MCKESSON CORP 2378534 554.61 1,977 1,096,463.97
0.41 INTC INTEL CORP 2463247 30.51 34,341 1,047,743.91
0.39 CVS CVS HEALTH CORP 2577609 56.47 17,855 1,008,271.85
0.31 AMGN AMGEN INC 2023607 308.45 2,600 801,970.00
0.30 YUM YUM! BRANDS INC 2098876 136.38 5,549 756,772.62
0.25 PSX PHILLIPS 66 B78C4Y8 145.08 4,428 642,414.24
0.24 DGX QUEST DIAGNOSTICS INC 2702791 140.78 4,435 624,359.30
0.18 CACI CACI INTL-A 2159267 425.25 1,062 451,615.50
0.17 LLY ELI LILLY & CO 2516152 757.70 579 438,708.30
0.17 PGR PROGRESSIVE CORP 2705024 212.41 2,064 438,414.24
0.17 EME EMCOR GROUP INC 2474164 373.56 1,127 421,002.12
0.14 ABBV ABBVIE INC B92SR70 161.28 2,221 358,202.88
0.13 CHD CHURCH & DWIGHT CO INC 2195841 106.87 3,153 336,949.29
0.13 TW TRADEWEB MARKE-A BJXMVK2 109.75 2,958 324,640.50
0.13 SNA SNAP-ON INC 2818740 279.93 1,151 322,199.43
0.12 KR KROGER CO 2497406 54.91 5,799 318,423.09
0.11 SO SOUTHERN CO/THE 2829601 78.70 3,568 280,801.60
0.11 COST COSTCO WHOLESALE CORP 2701271 775.15 356 275,953.40
0.11 CASY CASEY'S GENERAL 2179414 340.26 795 270,506.70
0.10 SAIC SCIENCE APPLICATIONS INTE BDTZZG7 134.38 1,903 255,725.14
0.10 RTX RTX CORPORATION BM5M5Y3 105.80 2,383 252,121.40
0.10 TRV TRAVELERS COS INC/THE 2769503 216.58 1,144 247,767.52
0.10 LDOS LEIDOS HOLDINGS INC BDV82B8 146.09 1,695 247,622.55
0.10 WRB WR BERKLEY CORP 2093644 78.61 3,119 245,184.59
0.10 GRMN GARMIN LTD B3Z5T14 169.36 1,441 244,047.76
0.09 AFL AFLAC INC 2026361 85.87 2,766 237,516.42
0.09 DUK DUKE ENERGY CORP B7VD3F2 102.89 2,248 231,296.72
0.09 ORI OLD REPUBLIC INTL CORP 2659109 31.12 7,325 227,954.00
0.09 CAH CARDINAL HEALTH INC 2175672 98.04 2,322 227,648.88
0.09 ED CONSOLIDATED EDISON INC 2216850 96.81 2,350 227,503.50
0.09 HII HUNTINGTON INGAL B40SSC9 253.93 876 222,442.68
0.09 XOM EXXON MOBIL CORP 2326618 116.96 1,883 220,235.68
0.08 NOC NORTHROP GRUMMAN CORP 2648806 476.65 451 214,969.15
0.08 KMB KIMBERLY-CLARK CORP 2491839 136.29 1,576 214,793.04
0.08 PNW PINNACLE WEST CAPITAL 2048804 76.96 2,782 214,102.72
0.08 SON SONOCO PRODUCTS CO 2821395 59.70 3,577 213,546.90
0.08 AAPL APPLE INC 2046251 186.28 1,134 211,241.52
0.08 CVX CHEVRON CORP 2838555 164.53 1,283 211,091.99
0.08 REGN REGENERON PHARMACEUTICALS 2730190 976.96 216 211,023.36
0.08 ATR APTARGROUP INC 2045247 147.87 1,425 210,714.75
0.08 BDX BECTON DICKINSON AND CO 2087807 236.95 887 210,174.65
0.08 QGEN QIAGEN N.V. BMGBZP0 44.33 4,554 201,878.82
0.08 VRSK VERISK ANALYTICS INC B4P9W92 246.34 814 200,520.76
0.08 TJX TJX COMPANIES INC 2989301 98.75 1,988 196,315.00
0.08 FDS FACTSET RESEARCH 2329770 440.03 446 196,253.38
0.08 DRI DARDEN RESTAURANTS INC 2289874 149.06 1,309 195,119.54
0.08 ADP AUTOMATIC DATA PROCESSING 2065308 247.80 782 193,779.60
0.08 UNH UNITEDHEALTH GROUP INC 2917766 511.74 376 192,414.24
0.07 BSX BOSTON SCIENTIFIC CORP 2113434 72.81 2,616 190,470.96
0.07 MDLZ MONDELEZ INTER-A B8CKK03 71.76 2,634 189,015.84
0.07 L LOEWS CORP 2523022 77.34 2,432 188,090.88
0.07 DLB DOLBY LABORATO-A B04NJM9 82.22 2,285 187,872.70
0.07 HON HONEYWELL INTL 2020459 203.80 920 187,496.00
0.07 HIG HARTFORD FINL SV 2476193 100.54 1,855 186,501.70
0.07 MA MASTERCARD INC - A B121557 457.76 406 185,850.56
0.07 PKG PACKAGING CORP OF AMERICA 2504566 181.43 997 180,885.71
0.07 VRTX VERTEX PHARM 2931034 429.93 416 178,850.88
0.07 AKAM AKAMAI TECHNOLOGIES INC 2507457 94.32 1,857 175,152.24
0.07 MSI MOTOROLA SOLUTIONS INC B5BKPQ4 358.00 478 171,124.00
0.07 NEU NEWMARKET CORP B01CGF1 559.48 298 166,725.04
0.07 ICE INTERCONTINENTAL BFSSDS9 133.74 1,235 165,168.90
0.06 PCAR PACCAR INC 2665861 106.55 1,520 161,956.00
0.06 ORLY O'REILLY AUTOMOTIVE INC B65LWX6 1,012.75 144 145,836.00
-0.44 OTHER PAYABLE & RECEIVABLES 1.00 -1,114,858 -1,114,857.54
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 04/30/24

Sector Weight (%)
Financials 22.7
Information Technology 14.5
Health Care 11.6
Consumer Staples 10.5
Consumer Discretionary 8.9
Communication Services 8.5
Industrials 8.0
Materials 6.3
Energy 6.0
Utilities 1.9
Real Estate 1.2

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Information Technology Services 5.8
Pharmaceuticals: Major 5.6
Major Telecommunications 5.1
Regional Banks 4.8
Environmental Services 3.9
Food Retail 3.6
Insurance Brokers/Services 3.5
Finance/Rental/Leasing 3.3
Oil & Gas Pipelines 3.2
Aerospace & Defense 2.9
Major Banks 2.8
Other 55.5

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 05/13/24

Return on Equity 14.80%
Weighted Avg. Market Cap 97,791 M
2023 2024
Price-to-earnings 12.22 12.29
Price-to-book value 1.91 1.74

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 04/30/24

Versus Beta
S&P 500 0.77
NASDAQ-100 0.47
MSCI EAFE 0.74
MSCI Emg. Mkts 0.43
Standard Deviation 15.70%

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 04/30, AUSF was rated against the following numbers of Mid-Cap Value funds over the following time periods: 379 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.

© 2023 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.