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Trending ETFs

Name

As of 05/28/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Global X Solar ETF

RAYS | ETF

$11.85

$6.25 M

0.00%

0.50%

Vitals

YTD Return

-10.0%

1 yr return

-36.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$6.25 M

Holdings in Top 10

57.2%

52 WEEK LOW AND HIGH

$11.9
$10.28
$18.81

Expenses

OPERATING FEES

Expense Ratio 0.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/28/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Global X Solar ETF

RAYS | ETF

$11.85

$6.25 M

0.00%

0.50%

RAYS - Profile

Distributions

  • YTD Total Return -10.0%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Global X Solar ETF
  • Fund Family Name
    Global X Funds
  • Inception Date
    Sep 09, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Wayne Xie

Fund Description

The Fund invests at least 80% of its total assets, plus borrowings for investment purposes (if any), in the securities of the Solactive Solar Index (the "Underlying Index") and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the Underlying Index. The Fund's 80% investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed. The Fund may lend securities representing up to one-third of the value of the Fund’s total assets (including the value of the collateral received).
The Underlying Index is designed to provide exposure to companies that are positioned to benefit from further advances in the field of solar technology. Specifically, the Underlying Index consists of securities issued by “Solar Companies” as defined by Solactive AG, the provider of the Underlying Index (the "Index Provider"). Solar Companies are those companies that derive at least 50% of their revenues from the following business activities:
Solar Energy Materials: Companies involved in the production of raw materials that are primarily used in photovoltaic solar cells or concentrating solar-thermal mirrors or lenses (including silicon, cadmium telluride, copper indium gallium deselenide, titanium dioxide, and/or perovskite).
Solar Energy Systems & Components: Companies involved in the development and/or manufacturing of solar energy systems (and the components thereof) that harness energy from the photovoltaic effect or from sunlight to generate electricity. For example, a company involved in the production of solar panels may be categorized as having
business activities related to Solar Energy Systems & Components. Solar panels consist of an arrangement of solar photovoltaic cells mounted in a framework for installation.
Solar Power Production: Companies that generate and distribute electricity from light energy.
Solar Technology: Companies that develop commercial and residential infrastructure, generators, and engines powered by solar energy, as well as residential and commercial scale batteries for electricity produced from solar power, and solar-powered charging systems for electric vehicles or other electric devices.
Solar Installation, Integration & Maintenance: Companies that provide engineering and/or advisory services for the installation, integration, maintenance, and/or utilization of solar power at the residential, commercial, and industrial levels.
In constructing the Underlying Index, the Index Provider first applies a proprietary natural language processing algorithm to the eligible universe, which seeks to identify and rank companies involved in the field of solar technology based on filings, disclosures and other public information (e.g. regulatory filings, earnings transcripts, etc.). The Index Provider also applies an ESG (Environmental, Social and Governance) screening process to the universe of eligible companies. The Index Provider, in partnership with ESG data provider Minerva, on a quarterly basis reviews each constituent of the Underlying Index for compliance with the principles of the United Nations Global Compact. Any existing or potential constituent of the Underlying Index which does not meet the labor, human rights, environmental, and anti-corruption standards as defined by the United Nations Global Compact Principles as of the quarterly review will be excluded from the Underlying Index, as determined by the Index Provider. The highest-ranking companies identified by the natural language processing algorithm, as of the selection date, are further reviewed by the Index Provider to confirm they derive at least 50% of their revenues from the business activities described above.
To be a part of the eligible universe of the Underlying Index, certain minimum market capitalization and liquidity criteria, as defined by the Index Provider, must be met. As of January 31, 2024, companies must have a minimum market capitalization of $200 million and a minimum average daily turnover for the last 6 months greater than or equal to $2 million in order to be eligible for inclusion in the Underlying Index. As of January 31, 2024, companies listed in the following countries were eligible for inclusion in the Underlying Index: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Greece, Hong Kong, Hungary, Indonesia, Ireland, Israel, Italy, Japan, Kuwait, Malaysia, Mexico, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Qatar, Saudi Arabia, South Africa, South Korea, Singapore, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, United Arab Emirates, the United Kingdom, and the United States. As of January 31, 2024, the Underlying Index had significant exposure to Chinese issuers. The Fund may invest in China A-Shares, which are issued by companies incorporated in mainland China and traded on Chinese exchanges.
The Underlying Index is weighted according to a modified capitalization weighting methodology and is reconstituted and re-weighted semi-annually. Modified capitalization weighting seeks to weight constituents primarily based on market capitalization, but subject to caps on the weights of the individual securities. During each rebalance, the maximum weight of a company is capped at 8%, the aggregate weight of companies with a weight greater than or equal to 4.5% is capped at 40%, and all remaining companies are capped at a weight of 4.5%, and all constituents are subject to a minimum weight of 0.3%. Generally speaking, this approach will limit the amount of concentration in the largest market capitalization companies and increase company-level diversification. The Underlying Index may include large-, mid- or small-capitalization companies, and components primarily include information technology companies. As of January 31, 2024, the Underlying Index had 50 constituents. The Fund's investment objective and Underlying Index may be changed without shareholder approval.
The Underlying Index is sponsored by the Index Provider, which is an organization that is independent of, and unaffiliated with, the Fund and Global X Management Company LLC, the investment adviser for the Fund ("Adviser"). In addition, any determinations related to the constituents of the Underlying Index are made independent of the Fund's portfolio managers. The Index Provider determines the relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
The Adviser uses a "passive" or indexing approach to try to achieve the Fund's investment objective. Unlike many investment companies, the Fund does not try to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued.
The Fund generally will use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Underlying Index in approximately the same proportions as in the Underlying Index. However, the Fund may utilize a representative sampling strategy with respect to the Underlying Index when a replication strategy might be detrimental
or disadvantageous to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to replicate the Underlying Index, in instances in which a security in the Underlying Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Underlying Index.
The Adviser expects that, over time, the correlation between the Fund's performance and that of the Underlying Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. If the Fund uses a replication strategy, it can be expected to have greater correlation to the Underlying Index than if it uses a representative sampling strategy.
The Fund concentrates its investments (i.e., holds 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. As of January 31, 2024, the Underlying Index was concentrated in the semiconductors & semiconductor equipment industries and had significant exposure to the industrials and information technology sectors. The Fund is classified as "non-diversified," which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
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RAYS - Performance

Return Ranking - Trailing

Period RAYS Return Category Return Low Category Return High Rank in Category (%)
YTD -10.0% -24.9% 17.8% 94.92%
1 Yr -36.7% -68.1% 26.2% N/A
3 Yr N/A* -43.1% 28.8% N/A
5 Yr N/A* -32.3% 26.2% N/A
10 Yr N/A* -2.8% 17.7% N/A

* Annualized

Return Ranking - Calendar

Period RAYS Return Category Return Low Category Return High Rank in Category (%)
2023 -35.1% -72.7% 24.1% N/A
2022 -13.3% -22.1% 50.4% N/A
2021 N/A -31.4% 49.5% N/A
2020 N/A -23.4% 13.6% N/A
2019 N/A -13.7% 34.6% N/A

Total Return Ranking - Trailing

Period RAYS Return Category Return Low Category Return High Rank in Category (%)
YTD -10.0% -73.0% 17.8% 66.10%
1 Yr -36.7% -68.1% 26.2% N/A
3 Yr N/A* -43.1% 28.8% N/A
5 Yr N/A* -32.3% 26.2% N/A
10 Yr N/A* -1.5% 17.7% N/A

* Annualized

Total Return Ranking - Calendar

Period RAYS Return Category Return Low Category Return High Rank in Category (%)
2023 -35.1% -72.7% 24.1% N/A
2022 -13.3% -22.1% 50.4% N/A
2021 N/A -31.4% 49.5% N/A
2020 N/A -23.4% 13.6% N/A
2019 N/A -12.2% 34.6% N/A

RAYS - Holdings

Concentration Analysis

RAYS Category Low Category High RAYS % Rank
Net Assets 6.25 M 610 K 31.2 B 76.27%
Number of Holdings 50 1 389 41.18%
Net Assets in Top 10 3.57 M -21.4 M 5.86 B 66.18%
Weighting of Top 10 57.21% 8.9% 100.0% 29.69%

Top 10 Holdings

  1. ENPHASE ENERGY INC COMMON STOCK 11.66%
  2. SUNGROW POWER SUPPLY CO LT-A COMMON STOCK 8.31%
  3. FIRST SOLAR INC COMMON STOCK 8.29%
  4. LONGI GREEN ENERGY TECHNOL-A COMMON STOCK 7.50%
  5. NINGBO DEYE TECHNOLOGY CO -A COMMON STOCK 4.74%
  6. SOLAREDGE TECHNOLOGIES INC COMMON STOCK 4.06%
  7. JA SOLAR TECHNOLOGY CO LTD-A COMMON STOCK 4.03%
  8. NEXTRACKER INC-CL A COMMON STOCK 2.93%
  9. SHANGHAI AIKO SOLAR ENERGY-A COMMON STOCK 2.85%
  10. XINYI SOLAR HOLDINGS LTD COMMON STOCK 2.83%

Asset Allocation

Weighting Return Low Return High RAYS % Rank
Stocks
99.95% 0.00% 100.33% 35.29%
Cash
0.05% -0.34% 101.46% 63.24%
Preferred Stocks
0.00% 0.00% 29.02% 67.65%
Other
0.00% -8.90% 91.95% 70.59%
Convertible Bonds
0.00% 0.00% 3.05% 70.59%
Bonds
0.00% 0.00% 88.23% 69.12%

Stock Sector Breakdown

Weighting Return Low Return High RAYS % Rank
Utilities
0.00% 0.00% 85.14% 38.98%
Technology
0.00% 0.00% 77.79% 1.69%
Real Estate
0.00% 0.00% 54.95% 79.66%
Industrials
0.00% 0.00% 90.47% 52.54%
Healthcare
0.00% 0.00% 100.00% 76.27%
Financial Services
0.00% 0.00% 95.51% 76.27%
Energy
0.00% 0.00% 32.10% 74.58%
Communication Services
0.00% 0.00% 16.38% 74.58%
Consumer Defense
0.00% 0.00% 53.62% 76.27%
Consumer Cyclical
0.00% 0.00% 41.11% 93.22%
Basic Materials
0.00% 0.00% 36.59% 45.76%

Stock Geographic Breakdown

Weighting Return Low Return High RAYS % Rank
Non US
60.57% 0.00% 98.35% 4.41%
US
39.38% 0.00% 85.31% 82.35%

RAYS - Expenses

Operational Fees

RAYS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.22% 4.26% 82.67%
Management Fee 0.50% 0.25% 1.90% 26.76%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.19% N/A

Sales Fees

RAYS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 2.25% N/A

Trading Fees

RAYS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RAYS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 140.00% N/A

RAYS - Distributions

Dividend Yield Analysis

RAYS Category Low Category High RAYS % Rank
Dividend Yield 0.00% 0.00% 5.18% 80.00%

Dividend Distribution Analysis

RAYS Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Quarterly Annually

Net Income Ratio Analysis

RAYS Category Low Category High RAYS % Rank
Net Income Ratio N/A -2.66% 5.19% 66.07%

Capital Gain Distribution Analysis

RAYS Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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RAYS - Fund Manager Analysis

Managers

Wayne Xie


Start Date

Tenure

Tenure Rank

Sep 08, 2021

0.73

0.7%

Wayne Xie joined the Global X Management Company LLC in July 2018 as a Portfolio Management Associate. Previously, Mr. Xie was an Analyst at VanEck Associates on the Equity ETF Investment Management team from 2010 to 2018 and a Portfolio Administrator at VanEck Associates from 2007 to 2010. Mr. Xie received his BS in Business Administration from State University of New York at Buffalo.

Kimberly Chan


Start Date

Tenure

Tenure Rank

Sep 08, 2021

0.73

0.7%

Kimberly Chan is a Portfolio Management Associate. Previously, Ms. Chan was a US Associate Trader at Credit Agricole from 2016 to 2018, and an Investment Analyst at MetLife Investments from 2015 to 2016. Ms. Chan received her Bachelor of Science from New York University in 2015.

Vanessa Yang


Start Date

Tenure

Tenure Rank

Sep 08, 2021

0.73

0.7%

Vanessa Yang, Portfolio Management Associate, joined Global X Management Company LLC in 2016 as a Portfolio Administrator. She was appointed to the portfolio management team in June 2019. Previously, Ms. Yang was a Portfolio Administrator at VanEck Associates from 2011 to 2014. Ms. Yang received her MS in Financial Engineering from Drucker School of Management in 2010 and her BS in Economics from Guangdong University of Foreign Studies in 2008.

Nam To


Start Date

Tenure

Tenure Rank

Sep 08, 2021

0.73

0.7%

Nam To, CFA, joined Global X Management Company LLC in July 2017 as a Portfolio Management Analyst. Mr. To has been a Portfolio Manager of the Fund since March 1, 2018. Previously, Mr. To was a Global Economics Research Analyst at Bunge Limited from 2014 through 2017 and an Advisory and Investment Analyst at Horizon Capital Group from June 2013 through August 2013. Mr. To received his Bachelor of Arts in Philosophy and Economics from Cornell University in 2014.

Sandy Lu


Start Date

Tenure

Tenure Rank

Apr 01, 2022

0.16

0.2%

Sandy Lu, CFA, Portfolio Manager, joined the Adviser in September 2021. Previously, Mr. Lu worked at PGIM Fixed Income from 2014 to 2021, where he led the portfolio analyst team covering Emerging Markets Debt. He began his career in 2010 as an Investment Analyst at Lincoln Financial Group. Mr. Lu graduated with a B.S. in Economics from the Wharton School of the University of Pennsylvania. He earned his CFA designation in September 2015, and holds the Series 3 license.

William Helm


Start Date

Tenure

Tenure Rank

Apr 01, 2022

0.16

0.2%

William Helm, CFA, Portfolio Manager, joined the Adviser in September 2021. Previously, Mr. Helm spent 14 years at Vanguard where he most recently served as an Equity Portfolio Manager and Trader. Previously, he held roles in Portfolio Review, Corporate Strategy and Corporate Finance. Mr. Helm received his BBA in Economics from Belmont University in 2007 and his MBA from Columbia Business School in 2020.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.75 23.1 6.84 3.29