ETF Research Center

Global X Uranium ETF seeks to track the performance of Solactive Uranium Index.

FUND BASICS
Category	Global Equities
Fund Sponsor	Global X Management Co LLC
Website	www.globalxfunds.com
Inception date	Nov 05, 2010
Assets (mns)	$157
Currency	USD
Expense ratio	69 bp
Distributions	Annually

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	30
Wgt avg mkt cap (mns)	$18,602
Large cap (>$10bn)	44.7%
Mid cap ($2-10bn)	24.9%
Small cap (<$2bn)	30.5%
Developed mkts	80.5%
Emerging mkts	19.6%

TOP TEN HOLDINGS
Total	61.7 %
CAMECO CORP	20.9 %
BARRICK GOLD CORP	5.5 %
ITOCHU CORP	4.7 %
MACQUARIE GROUP LTD	4.7 %
CHEIL INDUSTRIES INC	4.7 %
SUMITOMO CORP	4.6 %
RIO TINTO PLC	4.3 %
BHP BILLITON PLC	4.2 %
MITSUBISHI HEAVY INDUSTRIES	4.1 %
HYUNDAI ENGINEERING & CONST	4.0 %

TOP COUNTRY EXPOSURE
	CANADA	36.9 %
	SOUTH KOREA	14.2 %
	JAPAN	13.5 %
	BRITAIN	8.5 %
	AUSTRALIA	5.2 %
	SOUTH AFRICA	0.6 %
	UNITED STATES	0.6 %
	CHINA	0.2 %
	HONG KONG	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.
-8.8%	-19.1%	2.6%	--	-15.6%

Market Correlations
versus...	Beta	R-squared
S&P500	0.81	16%
MSCI EAFE	0.92	17%
MSCI Emg. Mkts.	0.65	15%

Technical Indicators
Recent close	$10.28
30d moving avg.	$10.74
Annualized volatility	24.5%
Short interest (ETF)	0.1%
Relative strength (RSI)	48

Liquidity measures
Avg. volume (thou.)	120
Turnover	0.8%
Bid/Ask (% of price)	0.16%
ADV underlying (mns)	$625

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

URA

Expense:

69 bp

ALTAR Score™:

3.4%

ALTERNATIVE ETFs BASED ON OVERLAP WITH URA
Ticker	Fund Name	Overlap¹ vs URA (%)	Expense ratio (bp)	Savings vs URA (bp)	ALTAR Score™ (%)	ALTAR vs URA (%)
PICK	iShares MSCI Global Metals & Mining Producers ETF	8.5	39	30	8.7	+5.3
MXI	iShares Global Materials ETF	7.3	46	23	6.8	+3.4
RING	iShares MSCI Global Gold Miners ETF	6.1	39	30	3.4	+0.0
NANR	SPDR S&P North American Natural Resources ETF	5.7	35	34	4.6	+1.2
SGDM	Sprott Gold Miners ETF	5.5	50	19	3.0	-0.4
FIVA	Fidelity International Value Factor ETF	5.2	39	30	10.0	+6.7
GUNR	Flexshares Morningstar Global Upstream Natural Resources	5.2	46	23	6.4	+3.0
EUDG	WisdomTree Europe Quality Dividend Growth Fund	4.9	58	11	6.3	+3.0
INTF	iShares Edge MSCI Multifactor Intl ETF	4.6	30	39	8.3	+4.9
EWU	iShares MSCI United Kingdom ETF	4.5	50	19	7.7	+4.3
QGBR	SPDR MSCI UK StrategicFactors ETF	4.3	14	55	8.2	+4.8
IPKW	Invesco International BuyBack Achievers ETF	4.3	55	14	9.5	+6.2
FLGB	Franklin FTSE United Kingdom ETF	4.2	9	60	8.1	+4.7
GRES	IQ Global Resources ETF	4.0	77	-8	7.1	+3.7
ESGN	Columbia Sustainable International Equity Income ETF	3.8	45	24	10.5	+7.1
FJP	First Trust Japan AlphaDEX Fund	3.6	80	-11	10.6	+7.2
IDY	Pacific Global International Equity Income ETF	3.5	39	30	8.7	+5.3
FKO	First Trust South Korea AlphadDEX Fund	3.4	80	-11	10.6	+7.2
HDEF	Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF	3.4	20	49	8.8	+5.4
DXJ	WisdomTree Japan Hedged Equity Fund	3.3	48	21	9.1	+5.7

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 Uranium 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	4.0	%
Divided by: Fwd. P/BV	1.0	x
Less: Expense ratio	69	bp
Equals: ALTAR Score	3.4	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.54	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.