ETF Research Center

Global X Social Media ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Solactive Social Media Index.

FUND BASICS
Category	Global Equities
Fund Sponsor	Global X Management Co LLC
Website	www.globalxfunds.com
Inception date	Nov 15, 2011
Assets (mns)	$123
Currency	USD
Expense ratio	65 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	Brown Brothers Harriman & Co
Weighting	Tiered
Index replication	Full
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	41
Wgt avg mkt cap (mns)	$171,244
Large cap (>$10bn)	79.5%
Mid cap ($2-10bn)	16.9%
Small cap (<$2bn)	2.6%
Developed mkts	61.1%
Emerging mkts	38.9%

TOP TEN HOLDINGS
Total	68.6 %
TENCENT HOLDINGS LTD	10.8 %
FACEBOOK	9.7 %
TWITTER INC	8.5 %
NHN CORP	7.6 %
SNAP, INC. CLASS A	6.8 %
SPOTIFY TECHNOLOGY SA	5.2 %
NETEASE.COM INC-ADR	5.1 %
BAIDU INC - SPON ADR	5.0 %
ALPHABET INC. CLASS A	5.0 %
YANDEX NV-A	5.0 %

TOP COUNTRY EXPOSURE
	UNITED STATES	41.6 %
	CHINA	27.9 %
	SOUTH KOREA	10.6 %
	JAPAN	6.2 %
	LUXEMBOURG	5.2 %
	NETHERLANDS	5.0 %
	GERMANY	1.9 %
	CYPRUS	1.7 %
	TAIWAN	0.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
0.5%	10.9%	14.6%	--	12.8%

Market Correlations
versus...	Beta	R-squared
S&P500	1.00	48%
MSCI EAFE	1.01	40%
MSCI Emg. Mkts.	0.79	43%

Technical Indicators
Recent close	$34.57
30d moving avg.	$36.45
Annualized volatility	17.5%
Short interest (ETF)	0.7%
Relative strength (RSI)	42

Liquidity measures
Avg. volume (thou.)	28
Turnover	0.8%
Bid/Ask (% of price)	0.24%
ADV underlying (mns)	$9,021

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X Social Media ETF ETF based on the alternatives' overlap in portfolio holdings with SOCL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SOCL

Expense:

65 bp

ALTAR Score™:

3.1%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SOCL
Ticker	Fund Name	Overlap¹ vs SOCL (%)	Expense ratio (bp)	Savings vs SOCL (bp)	ALTAR Score™ (%)	ALTAR vs SOCL (%)
PLAT	WisdomTree Modern Tech Platforms Fund	31.9	45	20	2.2	-0.9
EMQQ	EMQQ The Emerging Markets Internet & Ecommerce ETF	30.8	86	-21	2.3	-0.7
PBS	Invesco Dynamic Media ETF	30.1	63	2	3.4	+0.3
TTTN	UP Fintech China-U.S. Internet Titans ETF	28.4	59	6	3.8	+0.7
FDNI	First Trust Dow Jones International Internet ETF	28.1	65	0	2.9	-0.2
CHIC	Global X Nasdaq China Technology ETF	25.6	65	0	4.2	+1.2
KWEB	KraneShares CSI China Internet ETF	25.2	76	-11	3.1	-0.0
OGIG	O'Shares Global Internet Giants ETF	25.1	48	17	1.1	-1.9
CQQQ	Invesco China Technology ETF	24.9	70	-5	4.1	+1.0
PNQI	Invesco NASDAQ Internet ETF	23.7	62	3	2.6	-0.5
GIGE	SoFi Gig Economy ETF	23.2	59	6	0.0	-3.1
IXP	iShares Global Telecom ETF	20.8	46	19	6.3	+3.2
KEMQ	Kraneshares Emerging Markets Consumer Technology Index ETF	20.5	80	-15	7.3	+4.2
GBUY	Goldman Sachs Motif New Age Consumer ETF	20.4	50	15	2.8	-0.3
ESPO	VanEck Vectors Video Gaming & eSports ETF	19.8	55	10	3.5	+0.4
VOX	Vanguard Telecommunication Services Index Fund	19.0	10	55	5.2	+2.1
FCOM	Fidelity MSCI Telecommunication Services Index ETF	18.8	8	57	5.2	+2.1
XLC	The Communication Services Select Sector SPDR Fund	18.2	13	52	6.1	+3.1
FDN	First Trust Dow Jones Internet Index Fund	17.9	52	13	3.3	+0.2
CXSE	WisdomTree China ex-State-Owned Enterprises Fund	17.0	32	33	6.2	+3.1

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

	2015	2016	2017	2018	2019	2020E	2021E
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

	2019	2020E	2021E
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 Social Media ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	12.3	%
Divided by: Fwd. P/BV	3.3	x
Less: Expense ratio	65	bp
Equals: ALTAR Score	3.1	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.35	CATEGORY AVERAGE	1.55

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.