Global X S&P 500 Tail Risk ETF
ALTAR
Score™		 5.0% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 24.5x P/Sales
ratio		 3.1x
P/BV
ratio		 4.6x Div.
yield		 1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
XTR tracks an index of the S&P 500 stocks and aims to protect the fund from significant negative movements or tail risk by purchasing quarterly Index put options.

FUND BASICS
Category US Equities
Fund Sponsor Global X
Website www.globalxetfs.com/funds/xtr/
Inception date Aug 25, 2021
Assets (mns) $3
Currency USD
Expense ratio 26 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 502
Wgt avg mkt cap (mns) $869,546
Large cap (>$10bn) 99.3%
Mid cap ($2-10bn) 0.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 7.3 %
MICROSOFT CORP 6.5 %
NVIDIA CORP 6.4 %
AMAZON.COM INC 4.1 %
META PLATFORMS INC 2.6 %
TESLA MOTORS INC 2.4 %
ALPHABET INC. CLASS A 2.2 %
BROADCOM INC. 2.0 %
ALPHABET INC. CLASS C 1.8 %
BERKSHIRE HATHAWAY INC-CL B 1.6 %
Total 37.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
IRELAND 1.7 %
BRITAIN 0.6 %
SWITZERLAND 0.3 %
BERMUDA 0.1 %
NETHERLANDS 0.1 %





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.
21.8% 27.1% -- -- 7.2%

Market Correlations
versus... Beta R-squared
S&P500 0.84 97%
MSCI EAFE 0.70 65%
MSCI Emg. Mkts. 0.53 38%

Technical Indicators
Recent close $33.21
30d moving avg. $33.65
Annualized volatility 15.0%
Short interest (ETF) 0.2%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.3%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $257,000

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 36 potential alternatives to the Global X S&P 500 Tail Risk ETF ETF based on the alternatives' overlap in portfolio holdings with XTR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XTR Expense: 26 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XTR
Ticker Fund
Name		 Overlap1
vs XTR
(%)		 Expense
ratio
(bp)		 Savings
vs XTR
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs XTR
(%)
XYLD Global X S&P 500 Covered Call ETF 99.4 60 -34 4.3 -0.7
XRMI Global X S&P 500 Risk Managed Income ETF 99.2 60 -34 4.4 -0.6
XYLG Global X S&P 500 Covered Call & Growth ETF 99.2 60 -34 4.4 -0.6
PBP Invesco S&P 500 BuyWrite ETF 98.6 49 -23 4.5 -0.5
XCLR Global X S&P 500 Collar 95-110 ETF 98.6 25 1 5.0 0.0
XYLE Global X S&P 500 ESG Covered Call ETF 70.2 60 -34 4.7 -0.3
EFIV SPDR S&P 500 ESG ETF 70.1 10 16 5.1 +0.2
SFLR Innovator Equity Managed Floor ETF 68.3 89 -63 4.1 -0.9
FTHI First Trust BuyWrite Income ETF 61.9 75 -49 4.8 -0.2
ACIO Aptus Collared Investment Opportunity ETF 58.5 79 -53 4.1 -0.8
FTQI First Trust Nasdaq BuyWrite Income ETF 50.2 75 -49 3.4 -1.6
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 49.1 35 -9 4.4 -0.6
QCLR Global X NASDAQ 100 Collar 95-110 ETF 49.1 25 1 4.4 -0.6
QRMI Global X NASDAQ 100 Risk Managed Income ETF 49.1 60 -34 4.0 -1.0
QYLD Global X NASDAQ 100 Covered Call ETF 49.1 60 -34 4.1 -0.9
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 49.1 60 -34 4.1 -0.9
QTR Global X NASDAQ 100 Tail Risk ETF 49.1 26 0 4.4 -0.6
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 49.1 68 -42 4.0 -1.0
QYLE Global X Nasdaq 100 ESG Covered Call ETF 46.5 60 -34 4.2 -0.8
MMLG First Trust Multi-Manager Large Growth ETF 42.5 85 -59 1.9 -3.1
GARP iShares MSCI USA Quality GARP ETF 42.2 15 11 4.8 -0.1
TYLG Global X Information Technology Covered Call & Growth ETF 31.5 60 -34 4.6 -0.4
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 30.9 82 -56 5.8 +0.9
DJIA Global X Dow 30 Covered Call ETF 28.0 60 -34 4.7 -0.2
DYLG Global X Dow 30 Covered Call & Growth ETF 27.9 60 -34 4.8 -0.1
CCOR Core Alternative ETF 20.8 107 -81 4.8 -0.2
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 20.0 58 -32 3.8 -1.2
DIVO Amplify CWP Enhanced Dividend Income ETF 18.9 55 -29 5.5 +0.6
THNQ ROBO Global Artificial Intelligence ETF 15.3 68 -42 1.4 -3.6
FYLG Global X Financials Covered Call & Growth ETF 13.3 60 -34 4.9 -0.1
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 12.0 75 -49 5.7 +0.7
LCG Sterling Capital Focus Equity ETF 10.8 59 -33 3.6 -1.4
HYLG Global X Health Care Covered Call & Growth ETF 10.0 60 -34 7.2 +2.3
XVOL Acruence Active Hedge U.S. Equity ETF 7.6 83 -57 5.1 +0.1
IDVO Amplify International Enhanced Dividend Income ETF 0.4 65 -39 7.3 +2.3
GBLD Invesco MSCI Green Building ETF 0.1 39 -13 8.9 +3.9

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

  2019 2020 2021 2022 2023 2024E 2025E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
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
  2023 2024E 2025E
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 Tail Risk 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 21.3 %
Divided by: Fwd. P/BV 4.1 x
Less: Expense ratio 26 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.58
 
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.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.