ETF Research Center

GXTG seeks to provide broad exposure to structurally disruptive macro-trends through a portfolio of ETFs selected from the Global X Thematic Growth family.

FUND BASICS
Category	Global Equities
Fund Sponsor	Global X
Website	www.globalxfunds.com
Inception date	Oct 25, 2019
Assets (mns)	$10
Currency	USD
Expense ratio	50 bp
Distributions	Semi-annual

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	5
Wgt avg mkt cap (mns)	$225,726
Large cap (>$10bn)	46.6%
Mid cap ($2-10bn)	39.9%
Small cap (<$2bn)	12.9%
Developed mkts	69.2%
Emerging mkts	30.5%

TOP TEN HOLDINGS
Total	100.0 %
GLOBAL X ART INTEL & TECH	21.0 %
GLOBAL X US INFR	20.3 %
GLB X MILL CONSU	20.0 %
GLOBAL X E-COMMERCE ETF	19.5 %
GLOBAL X CYBERSE	19.2 %
CASH	0.0 %

TOP COUNTRY EXPOSURE
	UNITED STATES	73.1 %
	CHINA	6.5 %
	CANADA	3.3 %
	ISRAEL	3.2 %
	JAPAN	2.7 %
	IRELAND	2.5 %
	SINGAPORE	1.8 %
	SOUTH KOREA	1.4 %
	ARGENTINA	1.0 %
	TAIWAN	0.8 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru June 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
9.8%	14.7%	-2.7%	--	0.8%

Market Correlations
versus...	Beta	R-squared
S&P500	1.28	63%
MSCI EAFE	1.03	43%
MSCI Emg. Mkts.	0.92	36%

Technical Indicators
Recent close	$25.78
30d moving avg.	$24.89
Annualized volatility	25.8%
Short interest (ETF)	0.1%
Relative strength (RSI)	60

Liquidity measures
Avg. volume (thou.)	1
Turnover	0.3%
Bid/Ask (% of price)	0.61%
ADV underlying (mns)	$12,024

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 1 potential alternatives to the Global X Dorsey Wright Thematic ETF ETF based on the alternatives' overlap in portfolio holdings with GXDW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

GXDW

Expense:

50 bp

ALTAR Score™:

3.9%

ALTERNATIVE ETFs BASED ON OVERLAP WITH GXDW
Ticker	Fund Name	Overlap¹ vs GXDW (%)	Expense ratio (bp)	Savings vs GXDW (bp)	ALTAR Score™ (%)	ALTAR vs GXDW (%)
FFOX	FundX Future Fund Opportunities ETF	0.0	100	-50	4.4	+0.5

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

	2020	2021	2022	2023	2024	2025E	2026E
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

	2024	2025E	2026E
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 Dorsey Wright Thematic ETF
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	16.4	%
Divided by: Fwd. P/BV	3.7	x
Less: Expense ratio	50	bp
Equals: ALTAR Score	3.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.25	CATEGORY AVERAGE	1.57

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.