S&P/ASX 200 Covered Call ETF - Global X ETFs - Australia
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AYLD

S&P/ASX 200 Covered Call ETF

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Reasons to Consider AYLD

High Income Potential

AYLD seeks to generate income through covered call writing, which historically produces higher yields in periods of volatility.

Efficient Options Execution

AYLD writes call options on the S&P/ASX 200 Index, saving investors the time and potential expense of doing so individually.

Potential Downside Mitigation

The premiums AYLD generates may partly cushion drawdowns.

Product Information As of 2 Jul 2024

Inception Date 30 Jan 2023
Management Costs (% p.a.) 0.60
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 2 Jul 2024

NAV/Unit (A$) 10.33060000
iNAV 10.3376
iNAV as of 01:40 PM
Currency (NAV) AUD
Shares Outstanding 3,700,586
AUM (A$) 38,229,344.60
NAV History File View

Product Summary

The Global X S&P/ASX 200 Covered Call ETF (AYLD) uses a “covered call” or “buy-write” strategy in an effort to generate yield enhancement over and above dividends and franking. As part of this, the fund holds the constituents of the S&P/ASX 200 Index while selling at-the money1, call options on the same index on a quarterly basis.

[1] If at-the money options are unavailable, the fund will sell nearest out-of-the-money call options.

Product Objective

AYLD aims to provide investors with a return that, before fees and expenses, tracks the performance of the S&P/ASX BuyWrite Index. The S&P/ASX BuyWrite Index measures the total return of a hypothetical “covered call” strategy applied to the S&P/ASX 200 Index. The index is made of two primary components: a “long” S&P/ASX 200 Index component, and a “short” Covered Call Option component. The two components are held in equal notional amounts.

Trading Details

Ticker AYLD
Bloomberg Code AYLD AU Equity
ISIN AU0000251878
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch
Registrar Computershare Investor Services Pty Limited
Trustee Global X Management (AUS) Limited

Benchmark Information

Benchmark S&P/ASX BuyWrite Index
Provider S&P Dow Jones Indices, LLC.

Distributions As of 31 May 2024

12-Month Yield 7.17%
12-Month Franking Level 15.58%
Distribution Frequency Quarterly
Distribution History View

Performance Table As of 1 Jul 2024

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month 1.15% 1.03% 0.13% 0.16%
3 Months 1.93% 1.84% 0.10% 0.19%
1 Year 12.89% 13.11% -0.22% 0.31%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 11.57% 11.86% -0.29% 0.43%

Top Holdings As of 3 Jul 2024

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
9.66 BHP GROUP LTD 6144690 43.16 87,850 3,791,606
9.28 COMMONW BK AUSTR 6215035 125.66 28,994 3,643,386
6.23 CSL LTD 6185495 292.08 8,371 2,445,002
4.89 NATL AUST BANK 6624608 35.69 53,747 1,918,230
4.16 WESTPAC BANKING 6076146 27.11 60,176 1,631,371
3.75 ANZ GROUP HOLDIN 6065586 28.26 52,096 1,472,233
3.23 WESFARMERS LTD 6948836 64.44 19,657 1,266,697
3.19 MACQUARIE GROUP B28YTC2 203.20 6,168 1,253,338
2.61 GOODMAN GROUP B03FYZ4 34.29 29,937 1,026,540
2.44 WOODSIDE ENERGY BMGT167 29.13 32,890 958,086
1.96 RIO TINTO LTD 6220103 119.63 6,429 769,101
1.84 TELSTRA GROUP LT 6087289 3.61 200,148 722,534
1.79 WOOLWORTHS GROUP 6981239 33.30 21,160 704,628
1.69 TRANSURBAN GROUP 6200882 12.39 53,563 663,646
1.61 FORTESCUE LTD 6086253 21.57 29,333 632,713
1.39 ARISTOCRAT LEISU 6253983 49.59 10,973 544,151
1.13 QBE INSURANCE 6715740 17.00 26,025 442,425
1.10 SANTOS LTD 6776703 7.69 56,258 432,624
1.00 COLES GROUP LTD BYWR0T5 16.93 23,201 392,793
0.96 SUNCORP GROUP LT 6585084 17.08 22,039 376,426
0.92 COCHLEAR LTD 6211798 317.27 1,134 359,784
0.90 JAMES HARDIE-CDI B60QWJ2 46.96 7,514 352,857
0.87 BRAMBLES LTD B1FJ0C0 14.16 24,123 341,582
0.83 XERO LTD B8P4LP4 133.53 2,453 327,549
0.83 ORIGIN ENERGY 6214861 10.93 29,842 326,173
0.77 WISETECH GLOBAL BZ8GX83 95.27 3,176 302,578
0.75 INSURANCE AUSTRA 6271026 7.13 41,057 292,736
0.75 SOUTH32 LTD BWSW5D9 3.73 78,457 292,645
0.74 RESMED INC-CDI 6221667 28.33 10,274 291,062
0.72 SCENTRE GROUP BLZH0Z7 3.13 89,989 281,666
0.66 COMPUTERSHARE LT 6180412 26.40 9,776 258,086
0.65 NORTHERN STAR RE 6717456 12.83 19,911 255,458
0.57 CAR GROUP LTD BW0BGZ3 34.37 6,533 224,539
0.54 SONIC HEALTHCARE 6821120 25.55 8,321 212,602
0.51 ASX LTD 6129222 60.10 3,358 201,816
0.49 LOTTERY CORP LTD BNRQW72 4.99 38,555 192,389
0.46 NEXTDC LTD B5LMKP4 17.45 10,417 181,777
0.45 APA GROUP 6247306 7.95 22,230 176,729
0.45 MEDIBANK PRIVATE BRTNNQ5 3.67 47,704 175,074
0.44 TREASURY WINE ES B61JC67 12.30 14,055 172,877
0.44 STOCKLAND 6850856 4.17 41,351 172,434
0.44 NEWMONT CORP-CDI BRDVMB3 62.33 2,761 172,093
0.44 REA GROUP LTD 6198578 192.75 892 171,933
0.42 QANTAS AIRWAYS 6710347 5.90 28,225 166,528
0.41 MINERAL RESOURCE B17ZL56 53.66 3,020 162,053
0.39 AMCOR PLC-CDI 6066608 14.47 10,522 152,253
0.39 BLUESCOPE STEEL 6533232 19.83 7,662 151,937
0.38 RAMSAY HEALTH 6041995 46.55 3,224 150,077
0.38 ORICA LTD 6458001 17.67 8,420 148,781
0.37 PILBARA MINERALS B2368L5 2.97 49,007 145,551
0.37 ALTIUM LTD 6167697 68.14 2,125 144,798
0.36 WASHINGTON H. SO 6821807 33.09 4,252 140,699
0.34 AMPOL LTD BM91201 32.66 4,128 134,820
0.34 GPT GROUP 6365866 3.98 33,182 132,064
0.33 SEEK LTD B0767Y3 20.92 6,170 129,076
0.32 MIRVAC GROUP 6161978 1.86 68,351 127,133
0.32 VICINITY CENTRES BY7QXS7 1.86 67,027 124,670
0.32 WHITEHAVEN COAL B1XQXC4 8.59 14,491 124,478
0.31 PRO MEDICUS LTD 6292782 136.09 904 123,025
0.31 ENDEAVOUR GROUP BNVS144 4.85 25,129 121,876
0.31 DEXUS/AU B033YN6 6.45 18,631 120,170
0.31 WORLEY LTD 6562474 14.77 8,132 120,110
0.31 SEVEN GROUP HOLD B432QW4 36.37 3,296 119,876
0.30 EVOLUTION MINING B3X0F91 3.44 34,399 118,333
0.30 STEADFAST GROUP BCT5FD7 6.17 19,163 118,236
0.30 ALS LTD B86SZR5 14.05 8,386 117,823
0.30 JB HI-FI LTD 6702623 61.24 1,894 115,989
0.29 AURIZON HOLDINGS B87CVM3 3.61 31,885 115,105
0.29 AGL ENERGY LTD BSS7GP5 10.74 10,488 112,641
0.28 QUBE HOLDINGS LT B1L4BC6 3.65 30,603 111,701
0.28 BENDIGO AND ADEL 6091280 11.31 9,844 111,336
0.27 CLEANAWAY WASTE BYQ8KW7 2.72 38,617 105,038
0.26 ATLAS ARTERIA BZ03TZ1 5.15 19,602 100,950
0.25 LYNAS RARE EARTH 6121176 6.13 16,191 99,251
0.25 INCITEC PIVOT LT 6673042 2.86 33,643 96,219
0.24 TECHNOLOGY ONE 6302410 18.31 5,190 95,029
0.23 TELIX PHARMA BF7M092 18.35 4,923 90,337
0.23 REECE LTD 6728801 24.37 3,692 89,974
0.23 CHARTER HALL GRO B15F6S6 10.90 8,193 89,304
0.21 A2 MILK CO LTD BWSRTS7 6.66 12,522 83,397
0.20 VIRGIN MONEY-CDI BJXCLP7 4.06 19,538 79,324
0.19 FISHER & PAYKEL 6423968 27.25 2,796 76,191
0.18 IDP EDUCATION LT BDB6DD1 14.56 4,821 70,194
0.17 SANDFIRE RESOURC 6739739 8.59 7,922 68,050
0.17 ALUMINA LTD 6954985 1.67 40,713 67,991
0.17 BANK QUEENSLAND 6076243 5.93 11,426 67,756
0.17 LENDLEASE GROUP 6512004 5.66 11,948 67,626
0.17 METCASH LTD B0744W4 3.57 18,908 67,502
0.17 IGO LTD 6439567 5.63 11,695 65,843
0.17 ANSELL LTD 6286611 25.96 2,527 65,601
0.17 HUB24 LTD BD4T5X1 46.28 1,409 65,209
0.16 PALADIN ENERGY 6668468 12.39 5,170 64,056
0.16 BLOCK INC - CDI BMHJ8W1 95.02 654 62,143
0.16 FLIGHT CENTRE TR 6352147 19.99 3,100 61,969
0.16 VIVA ENERGY GROU BYQM3N1 3.15 19,337 60,912
0.15 NIB HOLDINGS LTD B28ZM60 7.17 8,402 60,242
0.15 WEBJET LTD 6015815 8.94 6,733 60,193
0.15 RELIANCE WORLDWI BD1DM79 4.39 13,686 60,082
0.15 VENTIA SERVICES BNV08F0 3.91 14,818 57,938
0.14 LIFE360 INC-CDI BJMXQ67 15.68 3,616 56,699
0.14 PERSEUS MINING B02FBC1 2.33 23,797 55,447
0.14 CHALLENGER LTD 6726300 6.88 7,901 54,359
0.14 DOWNER EDI LTD 6465573 4.66 11,633 54,210
0.14 AUB GROUP LTD B0MBNC3 31.31 1,727 54,072
0.14 CHORUS LTD B54F6S5 7.12 7,515 53,507
0.13 PREMIER INV LTD 6699781 29.97 1,739 52,118
0.13 NATIONAL STORAGE BGP6479 2.30 22,076 50,775
0.13 ARB CORP LTD BWV03W5 37.84 1,340 50,706
0.13 AMP LTD 6709958 1.09 46,637 50,601
0.12 ILUKA RESOURCES 6957575 6.60 7,412 48,919
0.12 LIGHT & WOND-CDI BMXNX11 153.66 307 47,174
0.12 NEW HOPE CORP LT 6681960 5.17 8,931 46,173
0.12 BREVILLE GROUP L 6158709 26.89 1,714 46,089
0.12 HARVEY NORMAN 6173508 4.18 11,007 46,009
0.12 ORORA LTD BH4TCW7 1.95 23,272 45,380
0.12 NEUREN PHARMACEU B04LVF0 20.10 2,251 45,245
0.11 NETWEALTH GROUP BF52PL1 21.70 2,028 44,008
0.11 CHAMPION IRON LT BLD1SB3 6.50 6,730 43,745
0.11 PERPETUAL LTD 6682394 21.76 1,966 42,780
0.11 RED 5 LTD 6367550 0.37 115,603 42,773
0.11 REGION RE LTD BPBMY63 2.12 20,125 42,665
0.10 BEACH ENERGY LTD 6088204 1.49 27,662 41,216
0.10 DE GREY MINING 6534837 1.18 34,544 40,762
0.10 DOMINO'S PIZZA E B07SFG7 34.80 1,165 40,542
0.10 BRICKWORKS LTD 6315593 26.32 1,505 39,612
0.10 PINNACLE INVESTM BD0F7H1 14.03 2,814 39,480
0.10 CHARTER HLW REIT BDB46J2 3.28 11,521 37,789
0.10 SUPER RETAIL GRO B01C7R0 13.55 2,777 37,628
0.09 BELLEVUE GOLD LT BFZ31P0 1.83 20,394 37,219
0.09 RAMELIUS RESOURC 6586872 1.88 19,796 37,216
0.09 HOMECO DAILY NEE BNC0NF4 1.17 30,974 36,085
0.09 SIGMA HEALTHCARE BF13K02 1.25 28,267 35,334
0.09 LOVISA HOLDINGS BT9PVP0 30.73 1,140 35,032
0.09 EMERALD RESOURCE 6107381 3.51 9,865 34,626
0.09 LIONTOWN RESOURC B1J89V5 0.96 36,117 34,492
0.09 GRAINCORP LTD-A 6102331 8.64 3,885 33,566
0.09 TPG TELECOM LTD BMB2257 4.51 7,407 33,406
0.08 AUCKLAND AIRPORT BLRZSS8 7.01 4,722 33,101
0.08 BWP TRUST 6127453 3.48 9,413 32,757
0.08 GOLD ROAD RESOUR B15F5K1 1.74 18,765 32,651
0.08 ARCADIUM LIT-CDI BS715X9 4.86 6,673 32,431
0.08 GENESIS MINERALS B23G0X1 1.76 17,879 31,467
0.08 EAGERS AUTO 6296201 10.42 3,002 31,281
0.08 NINE ENTERTAINME BGQV183 1.32 23,577 31,122
0.08 INGENIA COMMUNIT B84GSC7 4.73 6,495 30,721
0.08 MEGAPORT LTD BZ5ZWZ3 10.93 2,761 30,178
0.08 NUFARM LTD 6335331 4.54 6,619 30,050
0.08 PEXA GROUP LTD BMD0WJ3 13.38 2,243 30,011
0.08 CORPORATE TRAVEL B3R1D52 13.28 2,230 29,614
0.08 BAPCOR LTD BLD2CY7 5.03 5,879 29,571
0.08 HMC CAPITAL LTD BJRBL61 6.98 4,227 29,504
0.07 DETERRA ROYALTIE BJP5T05 4.02 7,325 29,447
0.07 CAPRICORN METALS BDD98W2 4.79 6,147 29,444
0.07 NICKEL INDUSTRIE BZ7NDP2 0.80 36,377 29,102
0.07 BOSS ENERGY LTD B1XLCQ6 4.00 7,078 28,312
0.07 WEST AFRICAN RES B4KBBN0 1.59 17,803 28,307
0.07 CHARTER HALL RET 6225595 3.15 8,960 28,224
0.07 POLYNOVO LTD BSJBZM6 2.36 11,956 28,216
0.07 CENTURIA INDUSTR BD31FD8 3.03 9,239 27,994
0.07 TABCORP HLDGS 6873262 0.71 39,557 27,888
0.07 SIMS LTD B0LCW75 10.00 2,777 27,770
0.07 WAYPOINT REIT BLBQ285 2.25 11,638 26,186
0.07 INSIGNIA FINANCI 6714394 2.24 11,618 26,024
0.06 AMOTIV LTD BQH8HH4 10.39 2,440 25,352
0.06 IRESS LTD 6297497 7.80 3,235 25,233
0.06 IPH LTD BS7K5S1 6.25 4,033 25,206
0.06 KAROON ENERGY LT B00SV00 1.81 13,879 25,121
0.06 LIFESTYLE COMMUN 6137195 12.45 1,960 24,402
0.06 ARENA REIT B99K263 3.93 6,170 24,248
0.06 NEWS CORP- CDI B BD7SZP7 42.50 570 24,225
0.06 NRW HOLDINGS LTD B23XW70 3.07 7,848 24,093
0.06 MAGELLAN FIN GRP B015YX4 8.50 2,820 23,970
0.06 REGIS RESOURCES 6476542 1.76 13,084 23,028
0.06 CENTURIA CAPITAL 6518745 1.61 14,272 22,978
0.06 INGHAMS GROUP LT BZCNHW2 3.73 6,116 22,813
0.06 ELDERS LTD 6357852 8.19 2,725 22,318
0.06 JUDO CAPITAL HOL BMW7F41 1.25 17,869 22,247
0.06 DATA#3 LTD 6093015 8.26 2,679 22,129
0.06 DEEP YELLOW LTD 6480275 1.32 16,788 22,076
0.06 MONADELPHOUS GRP 6600471 13.06 1,688 22,045
0.06 JOHNS LYNG GROUP BYPHBX3 5.82 3,759 21,877
0.05 SITEMINDER LTD BLH35X6 5.10 4,223 21,537
0.05 EVT LTD BDG0N49 11.32 1,827 20,682
0.05 AUDINATE GROUP BZ9N3B6 15.50 1,323 20,507
0.05 BEGA CHEESE LTD B56CQJ5 4.26 4,699 20,018
0.05 STAR ENTERTAINME BD5ZR98 0.48 41,741 19,827
0.05 SMARTGROUP CORP BNB5WS6 8.50 2,305 19,593
0.05 CORONADO GLOBAL BGV71W0 1.34 14,519 19,455
0.05 HELIA GROUP LTD BP5HL07 3.82 5,053 19,302
0.05 KELSIAN GROUP LT BPBKR80 4.90 3,784 18,542
0.05 HEALIUS LTD BFZYRL1 1.43 12,577 17,985
0.05 STANMORE RESOURC B4KDPZ6 3.68 4,840 17,811
0.04 CREDIT CORP GRP 6287658 14.57 1,179 17,178
0.04 COLLINS FOODS LT B6QCFP1 8.93 1,914 17,092
0.04 SPARK NEW ZEALAN 6881500 3.75 3,830 14,363
0.04 NANOSONICS LTD B1WF979 2.87 4,933 14,158
0.04 CHARTER HALL SOC BHJVMY0 2.39 5,871 14,032
0.03 FLETCHER BLDG 6341617 2.72 4,863 13,227
0.03 DOMAIN HOLDINGS BF17Y13 2.93 4,376 12,822
0.03 STRIKE ENERGY LT B01NQF4 0.23 49,554 11,397
-1.76 AS51 9 C7775 134.40 -513 -689,472
Holdings are subject to change.

Sector Breakdown As of 3 Jul 2024

Sector Weight (%)
Financials 31.9
Materials 21.2
Health Care 10.1
Consumer Discretionary 7.3
Industrials 6.8
Real Estate 6.6
Energy 5.0
Consumer Staples 4.2
Communication Services 3.7
Information Technology 3.1
Utilities 1.6

Country Breakdown As of 3 Jul 2024

Country Weight (%)
Australia 96.2
United States 1.8
New Zealand 1.5
Ireland 0.9
Britain 0.6
Malaysia 0.3
-1.8
Other/Cash 0.5

Research

Three Ways to Use an S&P/ASX 200 Covered Call ETF

Read More

How to Optimise Portfolio Income

Read More

How to Enhance Income Potential with Covered Call ETFs

Read More

Documents

FAQs

  • What is a covered call strategy?

    Covered calls are an investment strategy where investors buy a stock, or group of stocks, and sell call options on them. Selling call options can generate additional income for a fund, as buyers pay “premiums” for the right to buy assets at a fixed (“strike”) price. The logic behind selling call options against assets investors already own is that it ensures investors are “covered” from a margin call perspective – hence the term “covered call”.

  • What are the potential benefits of covered call strategies?

    The primary benefit of covered calls is that they can generate more income, and on a more diversified basis, than just owning dividend-paying stocks. This is because covered call sellers receive two income streams: first the dividends, second the premiums from the calls they sell. The premiums not only provide an income uplift, but also a second stream to draw from if dividends fall or dry up. Furthermore, options premiums tend to be inversely correlated to dividend yields—with lower dividend yielding stocks producing higher premiums – creating a natural hedge.

    Covered call income is also hedged against volatility and interest rates. All else being equal, when volatility rises, option premiums rise as options traders price higher probabilities of sharp share price movements into calls. And when interest rates rise, call option premiums mechanically rise too, as call sellers provide, in effect, a loan to buyers. The economics of which gets priced into premiums.

  • What are the potential risks of covered call strategies?

    By writing covered call options in return for the receipt of premiums, investors forego the opportunity to benefit from potential increases in the value of the S&P/ASX 200 Index above the exercise prices of such options but will continue to bear the risk of declines in the value of the S&P/ASX 200 Index.

    The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying stocks over time. As a result, the risks associated with writing covered call options may be similar to the risks associated with writing put options. In addition, AYLD’s ability to sell the securities underlying the options will be limited while the options are in effect unless AYLD cancels out the option positions through the purchase of offsetting identical options prior to the expiration of the written options.

  • What are the advantages of writing covered calls on the S&P/ASX 200 Index?

    Writing covered calls on the S&P/ASX 200 Index has all the familiar income advantages of buying S&P/ASX 200 shares. Investors receive all the dividends and franking credits that they do from owning the shares in the underlying index. However, writing call options provides a third source of income, derived from the premiums received from the selling of options. (Option sellers are not required to forego the dividends and franking credits they receive.) This means covered call strategies can generate income above what can be generated from just owning the shares. Furthermore, call option premiums provide a hedge against falling dividends, as call options premiums are usually larger for companies with little to no dividends.

  • Which options does the fund sell and at what price?

    The fund invests in the S&P/ASX 200 Index on a fully replicated basis. It then sells quarterly at-the-money exchange traded S&P/ASX 200 Index call options worth roughly 100% of the value of the portfolio, with the cash received from option sales reinvested into the S&P/ASX 200 Index. “At-the-money” options are those options with strike prices identical to the price of their underlying securities. Options are rolled the day before expiry. Expiring options are bought back at the time weighted average ask price between 4:20 pm and 4:25 pm Sydney time. New options are simultaneously sold at the time weighted average bid price.

  • What is the cut-off date to receive a distribution from AYLD?

    To receive a distribution, you must own the ETF – the trade must have fully settled – on the record date. This means that you should aim to buy AYLD at least two business days before the record date (as ETF trades take two business days to settle) should you wish to receive a distribution.

    The record date is the date on which Computershare, the share registry, records who owns which ETFs and therefore who is entitled to distributions. As AYLD has multiple distributions throughout the year, it has multiple record dates throughout the year too.

  • When do I receive my distributions from AYLD?

    Distributions are paid on the payment date, which is announced ahead of time on the ASX’s website. Generally speaking, the payment date falls two weeks after the record date. On the payment date, investors will receive the cash – or new ETFs, if they choose to reinvest their distributions. Franking credits are distributed via the year-end AMMA statement, which is usually issued around the end of financial year (in July or early August). Details of payment dates and frequencies are available on the fund’s website.

  • How can I know the size of a distribution?

    We (Global X) will usually forecast how big we expect a distribution to be around one week prior to the ex-distribution date. This forecast is made public on the announcement date. While these forecasts will be as accurate as practically possible, they are only estimates and are subject to corrections and revisions.

    The size of distributions is primarily determined by markets in the fund’s underlying assets. Variables include – but are not limited to – dividends and price movements in the fund's underlying shares, the size of option premiums, prevailing interest rates and market volatility.

    Fund operations can also impact distribution sizes. Management fees, transactional and operating costs typically lower a distribution. Distributions can also be impacted by the number of units in the fund on issue on the ex-distribution date. Where the number of units on issue declines in the leadup to the ex-distribution date, the distribution yield should be expected to expand. (Income accumulated between distributions is therefore spread over fewer units). An opposite dilutive effect occurs when the number of units on issue increases in the leadup to ex-distribution dates.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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