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 1 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 1 Jul 2024

NAV/Unit (A$) 10.34600000
iNAV 10.3390
iNAV as of 11:17 AM
Currency (NAV) AUD
Shares Outstanding 3,700,586
AUM (A$) 38,286,113.51
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 2 Jul 2024

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
9.67 BHP GROUP LTD 6144690 43.30 85,530 3,703,449
9.30 COMMONW BK AUSTR 6215035 126.20 28,229 3,562,500
6.23 CSL LTD 6185495 292.60 8,150 2,384,690
4.93 NATL AUST BANK 6624608 36.07 52,328 1,887,471
4.16 WESTPAC BANKING 6076146 27.21 58,587 1,594,152
3.77 ANZ GROUP HOLDIN 6065586 28.45 50,721 1,443,012
3.26 WESFARMERS LTD 6948836 65.16 19,138 1,247,032
3.19 MACQUARIE GROUP B28YTC2 203.16 6,006 1,220,179
2.67 GOODMAN GROUP B03FYZ4 35.01 29,147 1,020,436
2.36 WOODSIDE ENERGY BMGT167 28.25 32,022 904,622
1.97 RIO TINTO LTD 6220103 120.67 6,260 755,394
1.84 TELSTRA GROUP LT 6087289 3.61 194,862 703,452
1.81 WOOLWORTHS GROUP 6981239 33.57 20,602 691,609
1.69 TRANSURBAN GROUP 6200882 12.39 52,149 646,126
1.62 FORTESCUE LTD 6086253 21.76 28,559 621,444
1.40 ARISTOCRAT LEISU 6253983 50.04 10,684 534,627
1.13 QBE INSURANCE 6715740 17.06 25,338 432,266
1.09 SANTOS LTD 6776703 7.63 54,773 417,918
1.00 COLES GROUP LTD BYWR0T5 16.99 22,589 383,787
0.96 SUNCORP GROUP LT 6585084 17.13 21,457 367,558
0.93 COCHLEAR LTD 6211798 322.56 1,105 356,429
0.92 JAMES HARDIE-CDI B60QWJ2 47.92 7,316 350,583
0.87 BRAMBLES LTD B1FJ0C0 14.24 23,486 334,441
0.84 XERO LTD B8P4LP4 134.70 2,389 321,798
0.83 ORIGIN ENERGY 6214861 10.93 29,054 317,560
0.77 WISETECH GLOBAL BZ8GX83 95.10 3,093 294,144
0.75 RESMED INC-CDI 6221667 28.60 10,003 286,086
0.74 INSURANCE AUSTRA 6271026 7.11 39,973 284,208
0.74 SOUTH32 LTD BWSW5D9 3.71 76,385 283,388
0.72 SCENTRE GROUP BLZH0Z7 3.16 87,613 276,857
0.66 COMPUTERSHARE LT 6180412 26.47 9,518 251,941
0.65 NORTHERN STAR RE 6717456 12.90 19,386 250,079
0.58 CAR GROUP LTD BW0BGZ3 34.67 6,361 220,536
0.54 SONIC HEALTHCARE 6821120 25.66 8,102 207,897
0.51 ASX LTD 6129222 59.69 3,270 195,186
0.50 LOTTERY CORP LTD BNRQW72 5.08 37,537 190,688
0.46 NEXTDC LTD B5LMKP4 17.49 10,142 177,384
0.45 APA GROUP 6247306 7.98 21,643 172,711
0.45 MEDIBANK PRIVATE BRTNNQ5 3.69 46,445 171,382
0.45 STOCKLAND 6850856 4.25 40,259 171,101
0.44 NEWMONT CORP-CDI BRDVMB3 62.50 2,689 168,063
0.43 REA GROUP LTD 6198578 191.18 869 166,135
0.43 TREASURY WINE ES B61JC67 12.13 13,684 165,987
0.42 QANTAS AIRWAYS 6710347 5.91 27,480 162,407
0.42 MINERAL RESOURCE B17ZL56 54.94 2,941 161,579
0.39 BLUESCOPE STEEL 6533232 20.24 7,460 150,990
0.39 AMCOR PLC-CDI 6066608 14.66 10,245 150,192
0.38 PILBARA MINERALS B2368L5 3.08 47,713 146,956
0.38 RAMSAY HEALTH 6041995 46.70 3,139 146,591
0.38 ORICA LTD 6458001 17.67 8,198 144,859
0.37 ALTIUM LTD 6167697 67.95 2,069 140,589
0.36 WASHINGTON H. SO 6821807 32.92 4,140 136,289
0.34 AMPOL LTD BM91201 32.61 4,019 131,060
0.34 GPT GROUP 6365866 4.02 32,306 129,870
0.33 SEEK LTD B0767Y3 21.11 6,008 126,829
0.32 MIRVAC GROUP 6161978 1.86 66,546 123,443
0.32 VICINITY CENTRES BY7QXS7 1.88 65,257 122,683
0.32 ENDEAVOUR GROUP BNVS144 4.96 24,466 121,351
0.31 PRO MEDICUS LTD 6292782 135.66 881 119,516
0.31 SEVEN GROUP HOLD B432QW4 37.24 3,209 119,503
0.31 DEXUS/AU B033YN6 6.51 18,139 118,085
0.31 WORLEY LTD 6562474 14.88 7,918 117,820
0.30 WHITEHAVEN COAL B1XQXC4 8.13 14,109 114,706
0.30 ALS LTD B86SZR5 14.04 8,165 114,637
0.30 STEADFAST GROUP BCT5FD7 6.14 18,657 114,554
0.30 EVOLUTION MINING B3X0F91 3.42 33,491 114,539
0.30 AURIZON HOLDINGS B87CVM3 3.65 31,043 113,307
0.29 JB HI-FI LTD 6702623 60.81 1,844 112,134
0.29 BENDIGO AND ADEL 6091280 11.42 9,584 109,449
0.28 AGL ENERGY LTD BSS7GP5 10.68 10,211 109,053
0.28 QUBE HOLDINGS LT B1L4BC6 3.63 29,795 108,156
0.27 CLEANAWAY WASTE BYQ8KW7 2.75 37,598 103,395
0.26 ATLAS ARTERIA BZ03TZ1 5.13 19,085 97,906
0.25 LYNAS RARE EARTH 6121176 6.16 15,764 97,106
0.25 INCITEC PIVOT LT 6673042 2.88 32,755 94,334
0.24 TECHNOLOGY ONE 6302410 18.17 5,053 91,813
0.23 CHARTER HALL GRO B15F6S6 11.27 7,977 89,901
0.23 REECE LTD 6728801 24.90 3,595 89,516
0.23 TELIX PHARMA BF7M092 18.09 4,793 86,705
0.21 A2 MILK CO LTD BWSRTS7 6.66 12,192 81,199
0.20 VIRGIN MONEY-CDI BJXCLP7 4.06 19,022 77,229
0.20 FISHER & PAYKEL 6423968 27.42 2,723 74,665
0.18 IDP EDUCATION LT BDB6DD1 14.88 4,694 69,847
0.18 ALUMINA LTD 6954985 1.70 39,638 67,385
0.17 SANDFIRE RESOURC 6739739 8.68 7,713 66,949
0.17 IGO LTD 6439567 5.85 11,387 66,614
0.17 BANK QUEENSLAND 6076243 5.92 11,125 65,860
0.17 METCASH LTD B0744W4 3.56 18,409 65,536
0.17 LENDLEASE GROUP 6512004 5.63 11,633 65,494
0.17 ANSELL LTD 6286611 25.91 2,461 63,765
0.17 HUB24 LTD BD4T5X1 46.07 1,372 63,208
0.16 PALADIN ENERGY 6668468 12.52 5,034 63,026
0.16 BLOCK INC - CDI BMHJ8W1 97.06 637 61,827
0.16 FLIGHT CENTRE TR 6352147 19.82 3,019 59,837
0.16 VIVA ENERGY GROU BYQM3N1 3.16 18,827 59,493
0.15 NIB HOLDINGS LTD B28ZM60 7.25 8,181 59,312
0.15 RELIANCE WORLDWI BD1DM79 4.44 13,325 59,163
0.15 WEBJET LTD 6015815 8.89 6,556 58,283
0.15 LIFE360 INC-CDI BJMXQ67 16.13 3,521 56,794
0.15 VENTIA SERVICES BNV08F0 3.86 14,427 55,688
0.14 PERSEUS MINING B02FBC1 2.32 23,169 53,752
0.14 CHALLENGER LTD 6726300 6.90 7,693 53,082
0.14 DOWNER EDI LTD 6465573 4.68 11,326 53,006
0.14 AUB GROUP LTD B0MBNC3 31.38 1,682 52,781
0.14 CHORUS LTD B54F6S5 7.10 7,317 51,951
0.13 PREMIER INV LTD 6699781 30.28 1,694 51,294
0.13 AMP LTD 6709958 1.11 45,406 50,401
0.13 NATIONAL STORAGE BGP6479 2.30 21,493 49,434
0.13 ARB CORP LTD BWV03W5 37.04 1,305 48,337
0.13 ILUKA RESOURCES 6957575 6.67 7,217 48,137
0.12 LIGHT & WOND-CDI BMXNX11 156.00 299 46,644
0.12 HARVEY NORMAN 6173508 4.18 10,717 44,797
0.12 ORORA LTD BH4TCW7 1.97 22,658 44,636
0.12 BREVILLE GROUP L 6158709 26.68 1,669 44,529
0.12 NEW HOPE CORP LT 6681960 5.10 8,696 44,350
0.12 NEUREN PHARMACEU B04LVF0 20.21 2,192 44,300
0.11 NETWEALTH GROUP BF52PL1 21.61 1,975 42,680
0.11 CHAMPION IRON LT BLD1SB3 6.51 6,553 42,660
0.11 REGION RE LTD BPBMY63 2.13 19,594 41,735
0.11 RED 5 LTD 6367550 0.37 112,550 41,644
0.11 PERPETUAL LTD 6682394 21.39 1,915 40,962
0.11 DOMINO'S PIZZA E B07SFG7 35.79 1,135 40,622
0.10 BEACH ENERGY LTD 6088204 1.48 26,932 39,859
0.10 DE GREY MINING 6534837 1.17 33,632 39,349
0.10 BRICKWORKS LTD 6315593 26.34 1,466 38,614
0.10 PINNACLE INVESTM BD0F7H1 14.03 2,740 38,442
0.10 CHARTER HLW REIT BDB46J2 3.31 11,217 37,128
0.10 SUPER RETAIL GRO B01C7R0 13.59 2,704 36,747
0.09 RAMELIUS RESOURC 6586872 1.88 19,274 36,139
0.09 BELLEVUE GOLD LT BFZ31P0 1.80 19,856 35,741
0.09 HOMECO DAILY NEE BNC0NF4 1.19 30,156 35,735
0.09 LOVISA HOLDINGS BT9PVP0 31.90 1,110 35,409
0.09 SIGMA HEALTHCARE BF13K02 1.25 27,521 34,264
0.09 GRAINCORP LTD-A 6102331 8.90 3,783 33,669
0.09 EMERALD RESOURCE 6107381 3.46 9,605 33,233
0.09 TPG TELECOM LTD BMB2257 4.58 7,212 33,031
0.08 BWP TRUST 6127453 3.51 9,165 32,169
0.08 ARCADIUM LIT-CDI BS715X9 4.95 6,497 32,160
0.08 AUCKLAND AIRPORT BLRZSS8 6.98 4,598 32,094
0.08 GOLD ROAD RESOUR B15F5K1 1.75 18,270 31,881
0.08 NINE ENTERTAINME BGQV183 1.37 22,955 31,448
0.08 LIONTOWN RESOURC B1J89V5 0.89 35,164 31,296
0.08 GENESIS MINERALS B23G0X1 1.77 17,407 30,723
0.08 EAGERS AUTO 6296201 10.44 2,923 30,516
0.08 INGENIA COMMUNIT B84GSC7 4.80 6,324 30,355
0.08 PEXA GROUP LTD BMD0WJ3 13.75 2,184 30,030
0.08 NUFARM LTD 6335331 4.59 6,445 29,583
0.08 MEGAPORT LTD BZ5ZWZ3 10.95 2,689 29,445
0.08 CORPORATE TRAVEL B3R1D52 13.45 2,172 29,213
0.08 CAPRICORN METALS BDD98W2 4.88 5,985 29,207
0.08 BAPCOR LTD BLD2CY7 5.06 5,724 28,963
0.08 HMC CAPITAL LTD BJRBL61 7.02 4,116 28,894
0.07 DETERRA ROYALTIE BJP5T05 4.01 7,132 28,599
0.07 NICKEL INDUSTRIE BZ7NDP2 0.81 35,417 28,511
0.07 BOSS ENERGY LTD B1XLCQ6 4.07 6,892 28,050
0.07 CHARTER HALL RET 6225595 3.19 8,724 27,830
0.07 SIMS LTD B0LCW75 10.20 2,704 27,581
0.07 WEST AFRICAN RES B4KBBN0 1.59 17,333 27,559
0.07 CENTURIA INDUSTR BD31FD8 3.02 8,995 27,165
0.07 TABCORP HLDGS 6873262 0.71 38,513 27,152
0.07 POLYNOVO LTD BSJBZM6 2.33 11,641 27,124
0.07 WAYPOINT REIT BLBQ285 2.25 11,331 25,495
0.07 INSIGNIA FINANCI 6714394 2.24 11,312 25,339
0.07 IRESS LTD 6297497 7.94 3,150 25,011
0.06 AMOTIV LTD BQH8HH4 10.42 2,376 24,758
0.06 KAROON ENERGY LT B00SV00 1.82 13,513 24,526
0.06 IPH LTD BS7K5S1 6.20 3,927 24,347
0.06 LIFESTYLE COMMUN 6137195 12.49 1,909 23,843
0.06 NEWS CORP- CDI B BD7SZP7 42.89 555 23,804
0.06 ARENA REIT B99K263 3.93 6,008 23,611
0.06 MAGELLAN FIN GRP B015YX4 8.48 2,746 23,286
0.06 NRW HOLDINGS LTD B23XW70 3.04 7,641 23,229
0.06 CENTURIA CAPITAL 6518745 1.63 13,896 22,650
0.06 REGIS RESOURCES 6476542 1.76 12,739 22,357
0.06 JUDO CAPITAL HOL BMW7F41 1.25 17,398 21,748
0.06 DEEP YELLOW LTD 6480275 1.33 16,345 21,739
0.06 INGHAMS GROUP LT BZCNHW2 3.63 5,955 21,617
0.06 ELDERS LTD 6357852 8.11 2,654 21,524
0.06 MONADELPHOUS GRP 6600471 13.08 1,644 21,504
0.06 DATA#3 LTD 6093015 8.14 2,609 21,237
0.05 SITEMINDER LTD BLH35X6 5.09 4,112 20,930
0.05 JOHNS LYNG GROUP BYPHBX3 5.71 3,660 20,899
0.05 EVT LTD BDG0N49 11.61 1,779 20,654
0.05 STAR ENTERTAINME BD5ZR98 0.50 40,639 20,116
0.05 AUDINATE GROUP BZ9N3B6 15.34 1,289 19,773
0.05 BEGA CHEESE LTD B56CQJ5 4.22 4,575 19,307
0.05 HELIA GROUP LTD BP5HL07 3.86 4,920 18,991
0.05 KELSIAN GROUP LT BPBKR80 5.09 3,685 18,757
0.05 SMARTGROUP CORP BNB5WS6 8.30 2,245 18,634
0.05 CORONADO GLOBAL BGV71W0 1.29 14,136 18,235
0.05 HEALIUS LTD BFZYRL1 1.44 12,245 17,572
0.05 STANMORE RESOURC B4KDPZ6 3.72 4,713 17,532
0.04 CREDIT CORP GRP 6287658 14.92 1,148 17,128
0.04 COLLINS FOODS LT B6QCFP1 9.01 1,864 16,795
0.04 SPARK NEW ZEALAN 6881500 3.75 3,729 13,984
0.04 NANOSONICS LTD B1WF979 2.87 4,803 13,785
0.04 CHARTER HALL SOC BHJVMY0 2.41 5,716 13,776
0.03 FLETCHER BLDG 6341617 2.72 4,735 12,879
0.03 DOMAIN HOLDINGS BF17Y13 2.97 4,261 12,655
0.03 STRIKE ENERGY LT B01NQF4 0.24 48,246 11,338
-2.03 AS51 9 C7775 155.90 -499 -777,941
Holdings are subject to change.

Sector Breakdown As of 2 Jul 2024

Sector Weight (%)
Financials 32.0
Materials 21.3
Health Care 10.1
Consumer Discretionary 7.3
Industrials 6.8
Real Estate 6.7
Energy 4.9
Consumer Staples 4.2
Communication Services 3.7
Information Technology 3.1
Utilities 1.6

Country Breakdown As of 2 Jul 2024

Country Weight (%)
Australia 96.4
United States 1.8
New Zealand 1.5
Ireland 0.9
Britain 0.6
Malaysia 0.3
-2.0
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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