ETF Research Center

The Global X S&P 500 Catholic Values ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P 500 Catholic Values Index.

FUND BASICS
Category	US Equities
Fund Sponsor	Global X
Website	www.globalxfunds.com
Inception date	Apr 18, 2016
Assets (mns)	$293
Currency	USD
Expense ratio	29 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Market Cap
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	460
Wgt avg mkt cap (mns)	$275,085
Large cap (>$10bn)	97.7%
Mid cap ($2-10bn)	2.3%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	22.7 %
MICROSOFT CORP	4.5 %
APPLE INC	4.4 %
AMAZON.COM INC	2.9 %
FACEBOOK	1.9 %
BERKSHIRE HATHAWAY INC-CL B	1.7 %
JPMORGAN CHASE & CO	1.6 %
COCA-COLA CO/THE	1.5 %
ALPHABET INC. CLASS C	1.5 %
ALPHABET INC. CLASS A	1.5 %
MEDTRONIC PLC	1.3 %

TOP COUNTRY EXPOSURE
	UNITED STATES	95.5 %
	IRELAND	2.6 %
	BRITAIN	1.1 %
	SWITZERLAND	0.4 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru November 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
28.1%	15.8%	--	--	14.6%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	99%
MSCI EAFE	0.91	67%
MSCI Emg. Mkts.	0.64	53%

Technical Indicators
Recent close	$38.31
30d moving avg.	$37.99
Annualized volatility	12.3%
Short interest (ETF)	0.2%
Relative strength (RSI)	67

Liquidity measures
Avg. volume (thou.)	20
Turnover	0.3%
Bid/Ask (% of price)	0.13%
ADV underlying (mns)	$129,411

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X S&P 500 Catholic Values ETF based on the alternatives' overlap in portfolio holdings with CATH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

CATH

Expense:

29 bp

ALTAR Score™:

5.9%

ALTERNATIVE ETFs BASED ON OVERLAP WITH CATH
Ticker	Fund Name	Overlap¹ vs CATH (%)	Expense ratio (bp)	Savings vs CATH (bp)	ALTAR Score™ (%)	ALTAR vs CATH (%)
PBP	Invesco S&P 500 Buy/Write	85.1	49	-20	5.5	-0.4
SPY	S&P 500 SPDR	84.2	9	20	5.9	+0.0
HSPX	Global X S&P 500 Covered Call	84.2	65	-36	5.3	-0.5
IVV	iShares Core S&P 500	84.2	4	25	5.9	+0.1
VOO	Vanguard S&P 500 ETF	84.2	3	26	6.0	+0.1
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free	82.6	20	9	5.9	+0.1
SPXE	ProShares S&P 500 Ex-Energy	81.6	27	2	5.9	-0.0
SPXV	ProShares S&P 500 Ex-Health Care	80.7	27	2	5.7	-0.2
VV	Vanguard Large-Cap ETF	80.5	4	25	5.8	-0.0
PBUS	Invesco PureBeta MSCI USA	80.2	4	25	6.0	+0.1
BBUS	JP Morgan Betabuilders U.S. Equity	79.8	2	27	5.9	-0.0
SCHX	Schwab U.S. Large-Cap	77.8	3	26	5.8	-0.1
SPLG	SPDR Portfolio Large Cap	76.4	3	26	5.8	-0.1
SCHK	Schwab 1000 Index	75.6	5	24	5.8	-0.0
IWB	iShares Russell 1000	75.5	15	14	5.7	-0.1
VONE	Vanguard Russell 1000	75.4	12	17	5.8	-0.1
IYY	iShares DJ US Total Market	74.1	20	9	5.7	-0.2
MGC	Vanguard Mega Cap 300 ETF	74.0	7	22	5.8	-0.0
SFY	SoFi Select 500	73.6	0	29	5.6	-0.3
ESGV	Vanguard ESG U.S. Stock	73.3	12	17	5.8	-0.1

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2018	2019E	2020E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Global X S&P 500 Catholic Values
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	17.5	%
Divided by: Fwd. P/BV	2.8	x
Less: Expense ratio	29	bp
Equals: ALTAR Score	5.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.50	CATEGORY AVERAGE	1.56

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.