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Critical Facts You Need to Know About Preferred Stocks
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Global X S&P 500 Tail Risk ETF
ETF
XTR
Payout Change
Pending
Price as of:
$33.1187
+0.14
+0.41%
primary theme
N/A
XTR (ETF)
Global X S&P 500 Tail Risk ETF
Payout Change
Pending
Price as of:
$33.1187
+0.14
+0.41%
primary theme
N/A
XTR (ETF)
Global X S&P 500 Tail Risk ETF
Payout Change
Pending
Price as of:
$33.1187
+0.14
+0.41%
primary theme
N/A
Name
As of 11/19/2024Price
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
Vitals
YTD Return
22.8%
1 yr return
28.7%
3 Yr Avg Return
7.2%
5 Yr Avg Return
N/A
Net Assets
$3.29 M
Holdings in Top 10
34.2%
52 WEEK LOW AND HIGH
$33.0
$26.06
$33.83
Expenses
OPERATING FEES
Expense Ratio 0.25%
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 11/19/2024Price
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
XTR - Profile
Distributions
- YTD Total Return 22.8%
- 3 Yr Annualized Total Return 7.2%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 1.0%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameGlobal X S&P 500 Tail Risk ETF
-
Fund Family NameGlobal X Funds
-
Inception DateAug 25, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerNam To
Fund Description
The Fund invests at least 80% of its total assets in the securities of the Cboe S&P 500 Tail Risk Index ("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 Underlying Index measures the performance of a risk management strategy that holds the underlying stocks of the S&P 500® Index and applies a protective put strategy (i.e. long (purchased) put options) on the S&P 500® Index. The Underlying Index specifically reflects the performance of the component securities of the S&P 500® Index, combined with a long position in 10% out-of-the-money (“OTM”) put options that correspond to the value of the portfolio of stocks in the S&P 500® Index. The implications of the long put option are described in more detail here:
Put Options - When an investor purchases a put option, the investor pays an amount (premium) to acquire the right (but not the obligation) to sell shares of a reference asset at a specified exercise (“strike”) price on the expiration date. If the reference asset closes below the strike price as of the expiration date and the investor exercises the put option, the investor will be entitled to receive the difference between the value of the reference asset and the strike price. If the reference asset closes above the strike price as of the expiration date, the put option may end up worthless and the investor’s loss is limited to the amount of premium it paid.
On a quarterly basis, the Underlying Index will take long positions in quarterly put options with an exercise price generally at 10% below the prevailing market price of the S&P 500® Index. However, if put options with that precise strike price are unavailable, the Underlying Index will instead select the put option with the strike price closest to but greater than 10% below the prevailing market price of the S&P 500® Index. Each option position will (i) be traded on a national securities exchange; (ii) be held until the expiration date; (iii) expire on its date of maturity (in the next calendar quarter); (iv) only be subject to exercise on its expiration date; and (v) be settled in cash.
The S&P 500® Index is a float-adjusted market capitalization weighted index containing equity securities of 500 industrial, information technology, utility and financial companies amongst other GICS® sectors, regarded as generally representative of the U.S. stock market. A float-adjusted market capitalization weighted index weights each index component according to its market capitalization, using the number of shares that are readily available for purchase on the open market. The Fund's investment objective and Underlying Index may be changed without shareholder approval.
The Underlying Index is sponsored by S&P Dow Jones Indices LLC (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 or designates a third-party index calculation agent to publish 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. By purchasing put options on the value of the portfolio of stocks in the S&P 500® Index, the Fund’s protective put strategy may protect the Fund from a significant decline in the price of the S&P 500® Index, if the put options become in the money. If the value of the S&P 500® Index is below the strike price of the Fund’s put options positions upon the expiration of the put option, then at expiration the put will be worth the difference between the strike price and the value of the S&P 500® Index, so the value of the put option would protect the Fund from further losses below the strike price of the put. For example, if the S&P 500® Index were to fall by 15% from the time the put option was purchased to the time the put option expired, then the put option would be expected to have a value equal to approximately 5% of the value the portfolio had at the time when the put option was purchased, which would limit the Fund’s loss from the decrease in the S&P 500® Index over the relevant period to 10%. The level of protection the Fund provides from declines in the price of the S&P 500® Index during the period a given put option contract is held will vary depending on the relative difference between the strike price of the Fund’s put option position and the price of the S&P 500® Index. However, if the S&P 500® Index does not fall below the strike price of the purchased put option during the time the put option is held, then the put option will expire worthless, and the Fund’s strategy will underperform the S&P 500® Index during this time period due to the cost of purchasing the put options. An investor that purchases Fund shares other than on the day that the Fund takes long positions in quarterly put options, or who sells shares other than on the day that the put option expires, may experience different investment returns, depending on the relative difference between the strike price of the Fund’s put options positions and the price of the S&P 500® Index.
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 to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow 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 December 31, 2023, the Underlying Index had significant exposure to the information technology sector.
XTR - Performance
Return Ranking - Trailing
| Period | XTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.8% | -51.8% | 22.1% | 93.71% |
| 1 Yr | 28.7% | -58.9% | 46.9% | N/A |
| 3 Yr | 7.2%* | -25.7% | 197.6% | N/A |
| 5 Yr | N/A* | -29.1% | 93.8% | N/A |
| 10 Yr | N/A* | -17.2% | 37.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | XTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 19.8% | -69.4% | 53.7% | N/A |
| 2022 | -18.6% | -94.0% | 152.6% | N/A |
| 2021 | N/A | -13.9% | 183.6% | N/A |
| 2020 | N/A | -18.2% | 8.9% | N/A |
| 2019 | N/A | -80.2% | 35.2% | N/A |
Total Return Ranking - Trailing
| Period | XTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.8% | -97.2% | 22.1% | 94.71% |
| 1 Yr | 28.7% | -58.9% | 67.6% | N/A |
| 3 Yr | 7.2%* | -25.7% | 197.6% | N/A |
| 5 Yr | N/A* | -28.1% | 93.8% | N/A |
| 10 Yr | N/A* | -11.8% | 37.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | XTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 21.2% | -69.4% | 53.7% | N/A |
| 2022 | -17.7% | -94.0% | 152.6% | N/A |
| 2021 | N/A | -13.9% | 183.6% | N/A |
| 2020 | N/A | -12.8% | 8.9% | N/A |
| 2019 | N/A | -60.0% | 35.2% | N/A |
XTR - Holdings
Concentration Analysis
| XTR | Category Low | Category High | XTR % Rank | |
|---|---|---|---|---|
| Net Assets | 3.29 M | 177 K | 1.21 T | 99.16% |
| Number of Holdings | 504 | 2 | 4154 | 18.88% |
| Net Assets in Top 10 | 853 K | 1.74 K | 270 B | 98.76% |
| Weighting of Top 10 | 34.24% | 1.8% | 100.0% | 79.03% |
Top 10 Holdings
- APPLE INC COMMON STOCK 6.87%
- MICROSOFT CORP COMMON STOCK 6.68%
- NVIDIA CORP COMMON STOCK 6.18%
- AMAZON.COM INC COMMON STOCK 3.68%
- META PLATFORMS INC COMMON STOCK 2.25%
- ALPHABET INC-CL A COMMON STOCK 2.16%
- ALPHABET INC-CL C COMMON STOCK 1.83%
- BERKSHIRE HATHAWAY INC-CL B COMMON STOCK 1.71%
- BROADCOM INC COMMON STOCK 1.48%
- ELI LILLY CO COMMON STOCK 1.39%
Asset Allocation
| Weighting | Return Low | Return High | XTR % Rank | |
|---|---|---|---|---|
| Stocks | 99.62% | 0.00% | 130.24% | 13.62% |
| Other | 0.24% | -13.91% | 134.98% | 60.79% |
| Cash | 0.14% | -102.29% | 100.00% | 85.20% |
| Preferred Stocks | 0.00% | 0.00% | 2.23% | 60.72% |
| Convertible Bonds | 0.00% | 0.00% | 5.54% | 58.64% |
| Bonds | 0.00% | -0.04% | 95.81% | 58.51% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | XTR % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 25.44% | 25.70% |
| Technology | 0.00% | 0.00% | 48.94% | 49.65% |
| Real Estate | 0.00% | 0.00% | 37.52% | 51.05% |
| Industrials | 0.00% | 0.00% | 29.90% | 74.16% |
| Healthcare | 0.00% | 0.00% | 60.70% | 43.98% |
| Financial Services | 0.00% | 0.00% | 55.59% | 49.65% |
| Energy | 0.00% | 0.00% | 41.64% | 33.68% |
| Communication Services | 0.00% | 0.00% | 27.94% | 42.02% |
| Consumer Defense | 0.00% | 0.00% | 49.14% | 49.86% |
| Consumer Cyclical | 0.00% | 0.00% | 50.47% | 45.66% |
| Basic Materials | 0.00% | 0.00% | 26.10% | 54.69% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | XTR % Rank | |
|---|---|---|---|---|
| US | 99.62% | 0.00% | 127.77% | 16.25% |
| Non US | 0.00% | 0.00% | 33.51% | 62.93% |
XTR - Expenses
Operational Fees
| XTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.25% | 0.01% | 2.95% | 62.58% |
| Management Fee | 0.25% | 0.00% | 2.00% | 64.65% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
| XTR 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% | 5.00% | N/A |
Trading Fees
| XTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 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.
| XTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 496.00% | N/A |
XTR - Distributions
Dividend Yield Analysis
| XTR | Category Low | Category High | XTR % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.03% | 0.00% | 19.15% | 41.86% |
Dividend Distribution Analysis
| XTR | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| XTR | Category Low | Category High | XTR % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -54.00% | 6.06% | 56.57% |
Capital Gain Distribution Analysis
| XTR | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2023 | $0.193 | OrdinaryDividend |
| Jun 29, 2023 | $0.103 | OrdinaryDividend |
| Dec 29, 2022 | $0.149 | OrdinaryDividend |
| Jun 29, 2022 | $0.096 | OrdinaryDividend |
| Jun 29, 2022 | $0.001 | CapitalGainLongTerm |
| Dec 30, 2021 | $0.068 | OrdinaryDividend |
| Dec 30, 2021 | $0.541 | CapitalGainShortTerm |
| Dec 30, 2021 | $0.035 | CapitalGainLongTerm |
XTR - Fund Manager Analysis
Managers
Nam To
Start Date
Tenure
Tenure Rank
Aug 25, 2021
0.76
0.8%
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.
Kimberly Chan
Start Date
Tenure
Tenure Rank
Aug 25, 2021
0.76
0.8%
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
Aug 25, 2021
0.76
0.8%
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.
Wayne Xie
Start Date
Tenure
Tenure Rank
Aug 25, 2021
0.76
0.8%
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.
Sandy Lu
Start Date
Tenure
Tenure Rank
Mar 01, 2022
0.25
0.3%
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
Mar 01, 2022
0.25
0.3%
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 |
|---|---|---|---|
| 0.04 | 39.02 | 7.17 | 2.42 |
