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)	$141
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)	$170,911
Large cap (>$10bn)	80.0%
Mid cap ($2-10bn)	16.5%
Small cap (<$2bn)	2.6%
Developed mkts	60.1%
Emerging mkts	39.9%

TOP TEN HOLDINGS
Total	68.2 %
TENCENT HOLDINGS LTD	10.6 %
FACEBOOK	10.0 %
NHN CORP	7.7 %
TWITTER INC	7.2 %
SNAP, INC. CLASS A	7.0 %
BAIDU INC - SPON ADR	5.6 %
SPOTIFY TECHNOLOGY SA	5.5 %
NETEASE.COM INC-ADR	5.0 %
YANDEX NV-A	4.9 %
IAC/INTERACTIVECORP	4.8 %

TOP COUNTRY EXPOSURE
	UNITED STATES	41.2 %
	CHINA	28.5 %
	SOUTH KOREA	10.5 %
	JAPAN	6.0 %
	LUXEMBOURG	5.5 %
	NETHERLANDS	4.9 %
	GERMANY	1.9 %
	CYPRUS	1.6 %
	TAIWAN	0.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru December 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
25.7%	25.7%	14.3%	--	12.9%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	46%
MSCI EAFE	1.06	41%
MSCI Emg. Mkts.	0.85	46%

Technical Indicators
Recent close	$37.49
30d moving avg.	$34.74
Annualized volatility	18.0%
Short interest (ETF)	0.5%
Relative strength (RSI)	84

Liquidity measures
Avg. volume (thou.)	10
Turnover	0.3%
Bid/Ask (% of price)	0.29%
ADV underlying (mns)	$7,891

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X Social Media 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™:

3.8%

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	32.2	45	20	2.7	-1.1
EMQQ	Emerging Markets Internet & E-Commerce	31.2	86	-21	3.2	-0.6
PBS	Invesco Dyn Media Port	31.0	63	2	3.0	-0.8
FDNI	First Trust Dow Jones International Internet	29.0	65	0	3.8	-0.1
TTTN	TigerShares China-U.S. Internet Titans	28.5	59	6	3.6	-0.2
CHIC	Global X MSCI China Communication Services	26.5	65	0	4.7	+0.9
OGIG	O'Shares Global Internet Giants	26.1	48	17	1.2	-2.6
CQQQ	Invesco China Technology	25.9	70	-5	4.6	+0.8
KWEB	KraneShares CSI China Internet	25.6	76	-11	3.5	-0.3
PNQI	Invesco Nasdaq Internet	25.3	62	3	2.4	-1.4
GIGE	SoFi Gig Economy	24.6	59	6	0.3	-3.5
IXP	iShares S&P Global Comm. Services	20.8	46	19	5.9	+2.1
GBUY	Goldman Sachs Motif New Age Consumer	20.7	50	15	2.7	-1.1
KEMQ	KraneShares EM Consumer Focus	20.6	80	-15	8.3	+4.5
ESPO	VanEck Vectors Video Gaming & eSports	19.7	55	10	3.2	-0.7
VOX	Vanguard Communication Services	19.1	10	55	4.8	+1.0
FCOM	Fidelity MSCI Communication Services	18.9	8	57	4.9	+1.1
FDN	First Trust DJ Internet	18.6	52	13	2.9	-0.9
XLC	Communication Services Select Sector SPDR	17.8	13	52	5.7	+1.9
IRBO	iShares Robotics and Artificial Intelligence	17.2	47	18	2.8	-1.0

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 Social Media
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	16.1	%
Divided by: Fwd. P/BV	3.6	x
Less: Expense ratio	65	bp
Equals: ALTAR Score	3.8	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.34	CATEGORY AVERAGE	1.54

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.