FLAG

S&P 500 U.S. Market Leaders Top 50 ETF

Reasons to Consider FLAG

Core U.S. Building Block

Many U.S. companies in major market indexes now earn most of their revenue abroad. FLAG offers core index exposure with a focus on American companies generating the majority of their revenue domestically.

Investing in U.S. Market Leaders

The S&P 500 U.S. Revenue Market Leaders 50 Index selects the top 50 eligible companies from the S&P 500 that generate at least 50% of their revenues from the U.S. using a Market Leader Score, which evaluates key indicators of quality and business strength.

Harness The World's Largest Economy

America is driven by investments in technology, infrastructure development, and strong consumer spending. FLAG aims to capture these factors that may support continued U.S. growth in the years ahead.

Key Information As of 04/17/25

Inception Date	04/15/25
Total Expense Ratio	0.29%
Net Assets	$2.46 million
NAV	$24.65
Fact Sheet	View the document

ETF Summary

The Global X S&P 500 U.S. Market Leaders Top 50 ETF (FLAG) invests in the top 50 U.S.-listed and domiciled companies within the S&P 500, excluding those within S&P’s Global Industry Classification Standard (GICS) Real Estate sector, that generate at least 50% of their revenues from in the U.S. Companies are ranked and selected based on their Market Leader Score, a quality screen developed by S&P which measures sustained free cash flow margin, sustained return on invested capital, and market share.

ETF Objective

The Global X S&P 500 U.S. Market Leaders Top 50 ETF (FLAG) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500 U.S. Revenue Market Leaders 50 Index.

Trading Details As of 04/17/25

Ticker	FLAG
Bloomberg Index Ticker	SPXLT5UT
CUSIP	37960A354
ISIN	US37960A3547
Primary Exchange	NYSE Arca
Shares Outstanding	100,000
Number of Holdings	50
30-Day Median Bid-Ask Spread	N/A

Distributions As of 04/17/25

30-Day SEC Yield	N/A
Distribution Frequency	Semi-Annually

ETF Prices As of 04/17/25

NAV	$24.65	Daily Change	-$0.02	-0.08%
Market Price	$24.69	Daily Change	$0.01	0.04%

As of recent month & quarter-end (03/31/25)	Fund NAV	Market Price	Index
Year-to-Date	--	--	--
1 Month	--	--	--
3 Months	--	--	--
Since Inception	--	--	--
Year-to-Date	--	--	--
1 Month	--	--	--
3 Months	--	--	--
Since Inception	--	--	--

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 ($)	Shares Held	Market Value ($)
5.34	BRK/B	BERKSHIRE HATH-B	2073390	518.21	254	131,625.34
5.11	LLY	ELI LILLY & CO	2516152	839.96	150	125,994.00
5.09	JNJ	JOHNSON & JOHNSON	2475833	157.47	797	125,503.59
4.72	WMT	WALMART INC	2936921	93.22	1,248	116,338.56
4.60	ABBV	ABBVIE INC	B92SR70	172.99	655	113,308.45
4.24	UNH	UNITEDHEALTH GROUP INC	2917766	454.11	230	104,445.30
4.22	HD	HOME DEPOT INC	2434209	355.06	293	104,032.58
3.94	MSFT	MICROSOFT CORP	2588173	367.78	264	97,093.92
3.76	CSCO	CISCO SYSTEMS INC	2198163	55.76	1,661	92,617.36
3.59	AMZN	AMAZON.COM INC	2000019	172.61	512	88,376.32
3.50	ORCL	ORACLE CORP	2661568	128.62	670	86,175.40
3.32	PEP	PEPSICO INC	2681511	142.84	572	81,704.48
3.29	T	AT&T INC	2831811	27.15	2,989	81,151.35
3.13	VZ	VERIZON COMMUNIC	2090571	44.04	1,754	77,246.16
2.78	INTU	INTUIT INC	2459020	585.38	117	68,489.46
2.63	PGR	PROGRESSIVE CORP	2705024	265.45	244	64,769.80
2.59	ADBE	ADOBE INC	2008154	348.80	183	63,830.40
2.52	AMGN	AMGEN INC	2023607	277.29	224	62,112.96
2.48	SPGI	S&P GLOBAL INC	BYV2325	462.88	132	61,100.16
2.12	VRTX	VERTEX PHARM	2931034	489.10	107	52,333.70
2.10	LOW	LOWE'S COS INC	2536763	219.00	236	51,684.00
2.02	ADP	AUTOMATIC DATA PROCESSING	2065308	293.28	170	49,857.60
1.67	MO	ALTRIA GROUP INC	2692632	58.16	706	41,060.96
1.66	LMT	LOCKHEED MARTIN CORP	2522096	464.08	88	40,839.04
1.56	SBUX	STARBUCKS CORP	2842255	81.50	472	38,468.00
1.50	MCK	MCKESSON CORP	2378534	697.08	53	36,945.24
1.35	ORLY	O'REILLY AUTOMOTIVE INC	B65LWX6	1,390.90	24	33,381.60
1.24	ANET	ARISTA NETWORKS INC	BL9XPM3	71.20	430	30,616.00
1.19	UPS	UNITED PARCEL-B	2517382	96.43	305	29,411.15
1.13	ZTS	ZOETIS INC	B95WG16	148.17	188	27,855.96
1.05	COF	CAPITAL ONE FINA	2654461	162.77	159	25,880.43
1.03	HCA	HCA HEALTHCARE INC	B4MGBG6	335.01	76	25,460.76
1.02	AZO	AUTOZONE INC	2065955	3,603.47	7	25,224.29
1.01	REGN	REGENERON PHARMACEUTICALS	2730190	563.16	44	24,779.04
0.88	CPRT	COPART INC	2208073	59.68	365	21,783.20
0.81	KMB	KIMBERLY-CLARK CORP	2491839	142.81	139	19,850.59
0.78	PAYX	PAYCHEX INC	2674458	144.90	133	19,271.70
0.77	FICO	FAIR ISAAC CORP	2330299	1,908.69	10	19,086.90
0.67	YUM	YUM! BRANDS INC	2098876	143.31	116	16,623.96
0.57	IDXX	IDEXX LABORATORIES INC	2459202	411.49	34	13,990.66
0.53	RMD	RESMED INC	2732903	212.91	61	12,987.51
0.42	TPL	TEXAS PACIFIC LAND CORP	BM99VY2	1,298.64	8	10,389.12
0.34	VRSN	VERISIGN INC	2142922	246.67	34	8,386.78
0.31	SYF	SYNCHRONY FINANCIAL	BP96PS6	47.87	160	7,659.20
0.29	NVR	NVR INC	2637785	7,190.07	1	7,190.07
0.27	DPZ	DOMINO'S PIZZA INC	B01SD70	466.74	14	6,534.36
0.25	TPR	TAPESTRY INC	BF09HX3	63.64	97	6,173.08
0.20	BBY	BEST BUY CO INC	2094670	61.97	80	4,957.60
0.20	POOL	POOL CORP	2781585	306.25	16	4,900.00
0.12	ENPH	ENPHASE ENERGY INC	B65SQW4	52.54	56	2,942.24
0.10		CASH		1.00	2,481	2,480.54
0.00		OTHER PAYABLE & RECEIVABLES		1.00	74	74.40

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

ETF Characteristics As of 04/17/25

Return on Equity	28.20%
Weighted Avg. Market Cap	481,257 M
	2024	2025
Price-to-earnings	20.37	18.67
Price-to-book value	5.79	4.84

Source: new windowAltaVista Research, LLC

ETF Research

Introducing EGLE and FLAG: An Innovative Approach to U.S. Equity Investing

Read the Full ArticleRead More

ETF Documents

Latest Premium / Discount As of 04/17/25

NAV	$24.65
Market Price	$24.69
Premium / (Discount)	$0.04

Current View 2025 Q2 As of 04/17/25

Days at Premium	2
Days at NAV	1
Days at Discount	0
Greatest Premium	0.17%
Greatest Discount	0.00%

Daily Premium / Discount History As of 04/17/25

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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.

Investing involves risk, including the possible loss of principal. FLAG 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 Standard & Poors, nor does Standard & Poors 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 Standard & Poors.