S&P/ASX 200 Covered Call ETF - Global X ETFs - Australia

AYLD


S&P/ASX 200 Covered Call ETF

Reasons to Consider AYLD

High Income Potential

AYLD seeks to generate income through covered call writing, which historically produces higher yields in periods of volatility.

Efficient Options Execution

AYLD writes call options on the S&P/ASX 200 Index, saving investors the time and potential expense of doing so individually.

Potential Downside Mitigation

The premiums AYLD generates may partly cushion drawdowns.

Product Information As of 27 Mar 2025

Inception Date 30 Jan 2023
Management Costs (% p.a.) 0.60
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 27 Mar 2025

NAV/Unit (A$) 10.28890000
iNAV 10.2971
iNAV as of 02:43 PM
Currency (NAV) AUD
Shares Outstanding 5,959,394
AUM (A$) 61,315,637.05
NAV History File View

Product Summary

The Global X S&P/ASX 200 Covered Call ETF (AYLD) uses a “covered call” or “buy-write” strategy in an effort to generate yield enhancement over and above dividends and franking. As part of this, the fund holds the constituents of the S&P/ASX 200 Index while selling at-the money1, call options on the same index on a quarterly basis.

[1] If at-the money options are unavailable, the fund will sell nearest out-of-the-money call options.

Product Objective

AYLD aims to provide investors with a return that, before fees and expenses, tracks the performance of the S&P/ASX BuyWrite Index. The S&P/ASX BuyWrite Index measures the total return of a hypothetical “covered call” strategy applied to the S&P/ASX 200 Index. The index is made of two primary components: a “long” S&P/ASX 200 Index component, and a “short” Covered Call Option component. The two components are held in equal notional amounts.

Trading Details

Ticker AYLD
Bloomberg Code AYLD AU Equity
ISIN AU0000251878
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch
Registrar Computershare Investor Services Pty Limited
Trustee Global X Management (AUS) Limited

Benchmark Information

Benchmark S&P/ASX BuyWrite Index
Provider S&P Dow Jones Indices, LLC.

Distributions As of 28 Feb 2025

12-Month Yield 8.44%
12-Month Franking Level 16.88%
Distribution Frequency Quarterly
Distribution History View

Performance Table As of 26 Mar 2025

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -2.79% -2.86% 0.07% 0.20%
3 Months -1.12% -1.12% -- 0.20%
1 Year 7.37% 7.83% -0.46% 0.39%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 9.79% 10.23% -0.44% 0.42%

Top Holdings As of 28 Mar 2025

Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
10.86 COMMONW BK AUSTR 6215035 150.04 44,386 6,659,675
8.70 BHP GROUP LTD 6144690 39.64 134,578 5,334,672
5.29 CSL LTD 6185495 252.41 12,843 3,241,702
4.70 WESTPAC BANKING 6076146 31.65 90,990 2,879,834
4.53 NATL AUST BANK 6624608 34.10 81,441 2,777,138
3.79 ANZ GROUP HOLDIN 6065586 29.48 78,919 2,326,532
3.54 WESFARMERS LTD 6948836 72.12 30,105 2,171,173
3.12 MACQUARIE GROUP B28YTC2 203.28 9,402 1,911,239
2.67 GOODMAN GROUP B03FYZ4 30.36 53,870 1,635,493
2.07 TELSTRA GROUP LT 6087289 4.14 306,466 1,268,769
1.94 WOODSIDE ENERGY BMGT167 23.60 50,362 1,188,543
1.93 RIO TINTO LTD 6220103 120.09 9,846 1,182,406
1.77 ARISTOCRAT LEISU 6253983 65.43 16,590 1,085,484
1.77 TRANSURBAN GROUP 6200882 13.17 82,330 1,084,286
1.56 WOOLWORTHS GROUP 6981239 29.44 32,401 953,885
1.44 QBE INSURANCE 6715740 22.08 39,929 881,632
1.21 BRAMBLES LTD B1FJ0C0 20.29 36,678 744,197
1.19 FORTESCUE LTD 6086253 16.21 44,916 728,088
1.13 COLES GROUP LTD BYWR0T5 19.41 35,549 690,006
0.99 XERO LTD B8P4LP4 159.14 3,817 607,437
0.96 COMPUTERSHARE LT 6180412 39.74 14,755 586,364
0.94 SANTOS LTD 6776703 6.69 86,143 576,297
0.91 RESMED INC-CDI 6221667 35.43 15,731 557,349
0.90 SUNCORP GROUP LT 6585084 19.26 28,722 553,186
0.89 NORTHERN STAR RE 6717456 17.94 30,354 544,551
0.80 ORIGIN ENERGY 6214861 10.71 45,694 489,383
0.78 INSURANCE AUSTRA 6271026 7.61 62,736 477,421
0.77 SCENTRE GROUP BLZH0Z7 3.42 137,969 471,854
0.75 COCHLEAR LTD 6211798 268.46 1,724 462,825
0.72 JAMES HARDIE-CDI B60QWJ2 38.75 11,450 443,688
0.72 SIGMA HEALTHCARE BF13K02 2.91 152,076 442,541
0.67 SOUTH32 LTD BWSW5D9 3.47 119,045 413,086
0.67 WISETECH GLOBAL BZ8GX83 83.66 4,936 412,946
0.62 QANTAS AIRWAYS 6710347 9.46 40,136 379,687
0.60 EVOLUTION MINING B3X0F91 6.97 52,424 365,395
0.55 ASX LTD 6129222 66.51 5,109 339,800
0.54 SONIC HEALTHCARE 6821120 26.02 12,660 329,413
0.53 CAR GROUP LTD BW0BGZ3 32.80 9,953 326,458
0.52 MEDIBANK PRIVATE BRTNNQ5 4.42 72,575 320,782
0.52 STOCKLAND 6850856 5.02 62,908 315,798
0.51 REA GROUP LTD 6198578 229.48 1,358 311,634
0.49 PRO MEDICUS LTD 6292782 210.00 1,432 300,720
0.46 LOTTERY CORP LTD BNRQW72 4.76 58,655 279,198
0.45 JB HI-FI LTD 6702623 94.83 2,881 273,205
0.44 APA GROUP 6247306 7.88 34,125 268,905
0.43 SGH LTD BR858V2 50.23 5,255 263,959
0.43 BLUESCOPE STEEL 6533232 22.61 11,558 261,326
0.39 AMCOR PLC-CDI 6066608 15.33 15,581 238,857
0.37 TECHNOLOGY ONE 6302410 28.83 7,937 228,824
0.37 WASHINGTON H. SO 6821807 34.47 6,590 227,157
0.37 VICINITY CENTRES BY7QXS7 2.21 101,969 225,351
0.37 NEWMONT CORP-CDI BRDVMB3 75.66 2,969 224,635
0.36 ORICA LTD 6458001 17.39 12,843 223,340
0.36 MIRVAC GROUP 6161978 2.14 103,983 222,524
0.36 GPT GROUP 6365866 4.40 50,480 222,112
0.35 SEEK LTD B0767Y3 23.11 9,403 217,303
0.35 TREASURY WINE ES B61JC67 10.01 21,383 214,044
0.34 TELIX PHARMA BF7M092 27.53 7,635 210,192
0.34 CHARTER HALL GRO B15F6S6 16.80 12,465 209,412
0.33 DEXUS/AU B033YN6 7.23 28,344 204,927
0.33 NEXTDC LTD B5LMKP4 12.01 16,899 202,957
0.33 ALS LTD B86SZR5 15.72 12,778 200,870
0.31 WORLEY LTD 6562474 14.75 12,967 191,263
0.30 QUBE HOLDINGS LT B1L4BC6 3.94 46,613 183,655
0.28 RAMSAY HEALTH 6041995 35.09 4,915 172,467
0.28 AGL ENERGY LTD BSS7GP5 10.61 15,956 169,293
0.28 STEADFAST GROUP BCT5FD7 5.79 29,153 168,796
0.27 LYNAS RARE EARTH 6121176 7.29 22,908 166,999
0.26 BENDIGO AND ADEL 6091280 10.64 14,976 159,345
0.26 ENDEAVOUR GROUP BNVS144 3.94 40,117 158,061
0.25 FISHER & PAYKEL 6423968 31.01 4,981 154,461
0.25 CLEANAWAY WASTE BYQ8KW7 2.62 58,793 154,038
0.25 AMPOL LTD BM91201 24.16 6,280 151,725
0.25 A2 MILK CO LTD BWSRTS7 7.89 19,080 150,541
0.24 HUB24 LTD BD4T5X1 69.99 2,139 149,709
0.24 PILBARA MINERALS B2368L5 1.85 79,712 147,467
0.24 AURIZON HOLDINGS B87CVM3 3.10 47,033 145,802
0.22 ATLAS ARTERIA BZ03TZ1 4.84 27,910 135,084
0.22 SANDFIRE RESOURC 6739739 11.17 12,088 135,023
0.22 ANSELL LTD 6286611 34.35 3,846 132,110
0.20 BLOCK INC - CDI BQD3643 94.21 1,313 123,698
0.20 LIFE360 INC-CDI BJMXQ67 20.72 5,903 122,310
0.20 WHITEHAVEN COAL B1XQXC4 5.48 22,046 120,812
0.20 INCITEC PIVOT LT 6673042 2.68 44,697 119,788
0.19 BANK QUEENSLAND 6076243 6.75 17,431 117,659
0.19 PERSEUS MINING B02FBC1 3.24 36,160 117,158
0.19 MINERAL RESOURCE B17ZL56 24.76 4,609 114,119
0.18 GENESIS MINERALS B23G0X1 3.72 29,744 110,648
0.18 LIGHT & WOND-CDI BMXNX11 162.94 675 109,985
0.18 DE GREY MINING 6534837 2.08 52,423 109,040
0.18 LENDLEASE GROUP 6512004 6.24 17,275 107,796
0.16 REECE LTD 6728801 15.54 6,340 98,524
0.16 DOWNER EDI LTD 6465573 5.46 17,698 96,631
0.15 AUB GROUP LTD B0MBNC3 30.65 3,072 94,157
0.15 RELIANCE WORLDWI BD1DM79 4.56 20,559 93,749
0.15 VENTIA SERVICES BNV08F0 4.05 22,544 91,303
0.15 METCASH LTD B0744W4 3.14 28,950 90,903
0.14 PINNACLE INVESTM BD0F7H1 18.32 4,838 88,632
0.14 CAPRICORN METALS BDD98W2 7.99 10,867 86,827
0.14 NETWEALTH GROUP BF52PL1 26.25 3,290 86,363
0.14 NIB HOLDINGS LTD B28ZM60 6.72 12,811 86,090
0.14 AMP LTD 6709958 1.28 66,718 85,065
0.14 HARVEY NORMAN 6173508 5.10 16,418 83,732
0.14 GOLD ROAD RESOUR B15F5K1 2.93 28,567 83,701
0.14 BREVILLE GROUP L 6158709 31.45 2,655 83,500
0.14 CHORUS LTD B54F6S5 7.26 11,434 83,011
0.13 CHALLENGER LTD 6726300 6.02 13,665 82,263
0.13 NATIONAL STORAGE BGP6479 2.20 36,414 80,111
0.13 VAULT MINERALS L BSML1B4 0.45 179,262 79,772
0.13 INSIGNIA FINANCI 6714394 4.41 17,675 77,947
0.12 AUCKLAND AIRPORT BLRZSS8 7.32 10,229 74,876
0.12 WESTGOLD RESOURC BYVQ673 2.87 26,055 74,778
0.12 REGIS RESOURCES 6476542 3.73 20,038 74,742
0.12 IGO LTD 6439567 4.18 17,761 74,241
0.12 FLIGHT CENTRE TR 6352147 14.11 5,090 71,820
0.12 RAMELIUS RESOURC 6586872 2.31 30,640 70,778
0.12 ALCOA CORP-CDI BSY2LN7 52.90 1,333 70,516
0.11 EAGERS AUTO 6296201 15.66 4,489 70,298
0.11 IDP EDUCATION LT BDB6DD1 9.57 7,335 70,196
0.11 ORORA LTD BH4TCW7 1.97 35,405 69,571
0.11 WEST AFRICAN RES B4KBBN0 2.29 30,306 69,401
0.11 ARB CORP LTD BWV03W5 33.41 2,056 68,691
0.10 CHARTER HLW REIT BDB46J2 3.77 16,724 63,008
0.10 REGION RE LTD BPBMY63 2.10 29,561 62,078
0.10 SIMS LTD B0LCW75 15.17 4,077 61,848
0.10 ZIP CO LTD BPP1Y77 1.76 34,629 60,947
0.10 BEACH ENERGY LTD 6088204 1.49 40,597 60,287
0.10 PERPETUAL LTD 6682394 20.04 2,911 58,336
0.09 PALADIN ENERGY 6668468 5.65 10,263 57,986
0.09 HOMECO DAILY NEE BNC0NF4 1.19 47,190 56,333
0.09 BRICKWORKS LTD 6315593 24.50 2,297 56,277
0.09 EMERALD RESOURCE 6107381 3.78 14,698 55,558
0.09 MESOBLAST LTD B04SF48 2.15 25,781 55,429
0.09 NINE ENTERTAINME BGQV183 1.56 35,103 54,761
0.09 JUDO CAPITAL HOL BMW7F41 1.85 29,446 54,475
0.09 TPG TELECOM LTD BMB2257 4.83 11,270 54,434
0.09 SUPER RETAIL GRO B01C7R0 13.05 4,166 54,366
0.09 INGENIA COMMUNIT B84GSC7 5.49 9,882 54,252
0.09 CHAMPION IRON LT BLD1SB3 5.23 10,243 53,571
0.09 HMC CAPITAL LTD BJRBL61 6.67 7,984 53,253
0.09 VIVA ENERGY GROU BYQM3N1 1.78 29,839 53,113
0.09 PREMIER INV LTD 6699781 20.56 2,557 52,572
0.08 YANCOAL AUSTRALI B84LB45 5.15 10,070 51,861
0.08 NEW HOPE CORP LT 6681960 3.79 13,589 51,502
0.08 BWP TRUST 6127453 3.48 14,666 51,038
0.08 CORPORATE TRAVEL B3R1D52 14.97 3,393 50,793
0.08 CODAN LTD 6712611 16.13 3,110 50,164
0.08 NEWS CORP- CDI B BD7SZP7 48.85 1,022 49,925
0.08 DOMINO'S PIZZA E B07SFG7 27.07 1,828 49,484
0.08 CHARTER HALL RET 6225595 3.53 13,632 48,121
0.08 ILUKA RESOURCES 6957575 4.18 11,285 47,171
0.07 WEB TRAVEL GROUP 6015815 4.65 9,789 45,519
0.07 SPARTAN RESOURCE BS2L471 1.83 24,284 44,318
0.07 LOVISA HOLDINGS BT9PVP0 24.66 1,780 43,895
0.07 MEGAPORT LTD BZ5ZWZ3 10.20 4,228 43,126
0.07 BAPCOR LTD BLD2CY7 4.73 8,944 42,305
0.07 TEMPLE & WEBSTER BZ1MWM5 16.85 2,510 42,294
0.07 CAPSTONE COP-CDI BQXH1K6 9.26 4,539 42,031
0.07 WAYPOINT REIT BLBQ285 2.37 17,705 41,940
0.07 DETERRA ROYALTIE BJP5T05 3.73 11,221 41,854
0.07 CENTURIA INDUSTR BD31FD8 2.92 14,146 41,296
0.07 NEUREN PHARMACEU B04LVF0 12.01 3,428 41,170
0.07 GUZMAN Y GOMEZ L BSLTT82 33.29 1,230 40,947
0.07 NUFARM LTD 6335331 4.02 10,158 40,835
0.07 GRAINCORP LTD-A 6102331 6.92 5,845 40,447
0.07 MONADELPHOUS GRP 6600471 15.50 2,602 40,331
0.07 IRESS LTD 6297497 8.11 4,954 40,177
0.07 IMDEX LTD 6462154 2.97 13,488 40,059
0.06 BEGA CHEESE LTD B56CQJ5 5.47 7,199 39,379
0.06 PEXA GROUP LTD BMD0WJ3 11.34 3,438 38,987
0.06 BELLEVUE GOLD LT BFZ31P0 1.15 33,830 38,735
0.06 TABCORP HLDGS 6873262 0.63 60,603 38,180
0.06 EVT LTD BDG0N49 13.44 2,802 37,659
0.06 ARENA REIT B99K263 3.54 10,570 37,464
0.06 FLETCHER BLDG 6341617 2.98 12,298 36,648
0.06 CENTURIA CAPITAL 6518745 1.62 22,017 35,557
0.06 ELDERS LTD 6357852 6.99 5,045 35,265
0.06 NICKEL INDUSTRIE BZ7NDP2 0.62 55,753 34,567
0.06 MAGELLAN FIN GRP B015YX4 7.86 4,371 34,356
0.06 NRW HOLDINGS LTD B23XW70 2.80 12,126 33,953
0.05 DIGICO INFRASTRU BTCHK67 3.28 10,274 33,699
0.05 AMOTIV LTD BQH8HH4 9.46 3,387 32,041
0.05 KAROON ENERGY LT B00SV00 1.64 18,727 30,712
0.05 INGHAMS GROUP LT BZCNHW2 3.13 8,937 27,973
0.04 IPH LTD BS7K5S1 4.55 5,962 27,127
0.04 DATA#3 LTD 6093015 7.28 3,724 27,111
0.04 SITEMINDER LTD BLH35X6 4.59 5,901 27,086
0.04 HELIA GROUP LTD BP5HL07 3.95 6,660 26,307
0.04 LIONTOWN RESOURC B1J89V5 0.66 39,685 26,192
0.04 MACQUARIE TECHNO 6175054 64.70 401 25,945
0.04 HEALIUS LTD BFZYRL1 1.45 17,477 25,342
0.04 BOSS ENERGY LTD B1XLCQ6 2.53 9,851 24,923
0.04 DEEP YELLOW LTD 6480275 1.06 23,315 24,714
0.04 SMARTGROUP CORP BNB5WS6 7.35 3,222 23,682
0.04 CREDIT CORP GRP 6287658 14.32 1,634 23,399
0.04 LIFESTYLE COMMUN 6137195 8.24 2,750 22,660
0.03 POLYNOVO LTD BSJBZM6 1.24 16,599 20,500
0.03 NUIX LTD BMW7P63 3.25 6,101 19,828
0.03 STANMORE RESOURC B4KDPZ6 2.18 7,800 17,004
0.03 CLARITY PHARMACE BMCHJF0 2.27 6,782 15,395
0.01 STAR ENTERTAINME BD5ZR98 0.11 56,351 6,199
-3.66 AS51 6 C7850 287.50 -781 -2,245,375
Holdings are subject to change.

Sector Breakdown As of 28 Mar 2025

Sector Weight (%)
Financials 34.2
Materials 20.1
Health Care 10.1
Consumer Discretionary 7.9
Industrials 7.7
Real Estate 7.0
Consumer Staples 3.9
Communication Services 3.9
Energy 3.9
Information Technology 2.9
Utilities 1.5

Country Breakdown As of 28 Mar 2025

Country Weight (%)
Australia 98.0
United States 2.2
New Zealand 1.8
Ireland 0.7
Britain 0.4
-3.7
Other/Cash 0.6

Research

FAQs

  • What is a covered call strategy?

    Covered calls are an investment strategy where investors buy a stock, or group of stocks, and sell call options on them. Selling call options can generate additional income for a fund, as buyers pay “premiums” for the right to buy assets at a fixed (“strike”) price. The logic behind selling call options against assets investors already own is that it ensures investors are “covered” from a margin call perspective – hence the term “covered call”.
  • What are the potential benefits of covered call strategies?

    The primary benefit of covered calls is that they can generate more income, and on a more diversified basis, than just owning dividend-paying stocks. This is because covered call sellers receive two income streams: first the dividends, second the premiums from the calls they sell. The premiums not only provide an income uplift, but also a second stream to draw from if dividends fall or dry up. Furthermore, options premiums tend to be inversely correlated to dividend yields—with lower dividend yielding stocks producing higher premiums – creating a natural hedge.

    Covered call income is also hedged against volatility and interest rates. All else being equal, when volatility rises, option premiums rise as options traders price higher probabilities of sharp share price movements into calls. And when interest rates rise, call option premiums mechanically rise too, as call sellers provide, in effect, a loan to buyers. The economics of which gets priced into premiums.
  • What are the potential risks of covered call strategies?

    By writing covered call options in return for the receipt of premiums, investors forego the opportunity to benefit from potential increases in the value of the S&P/ASX 200 Index above the exercise prices of such options but will continue to bear the risk of declines in the value of the S&P/ASX 200 Index.

    The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying stocks over time. As a result, the risks associated with writing covered call options may be similar to the risks associated with writing put options. In addition, AYLD’s ability to sell the securities underlying the options will be limited while the options are in effect unless AYLD cancels out the option positions through the purchase of offsetting identical options prior to the expiration of the written options.
  • What are the advantages of writing covered calls on the S&P/ASX 200 Index?

    Writing covered calls on the S&P/ASX 200 Index has all the familiar income advantages of buying S&P/ASX 200 shares. Investors receive all the dividends and franking credits that they do from owning the shares in the underlying index. However, writing call options provides a third source of income, derived from the premiums received from the selling of options. (Option sellers are not required to forego the dividends and franking credits they receive.) This means covered call strategies can generate income above what can be generated from just owning the shares. Furthermore, call option premiums provide a hedge against falling dividends, as call options premiums are usually larger for companies with little to no dividends.
  • Which options does the fund sell and at what price?

    The fund invests in the S&P/ASX 200 Index on a fully replicated basis. It then sells quarterly at-the-money exchange traded S&P/ASX 200 Index call options worth roughly 100% of the value of the portfolio, with the cash received from option sales reinvested into the S&P/ASX 200 Index. “At-the-money” options are those options with strike prices identical to the price of their underlying securities. Options are rolled the day before expiry. Expiring options are bought back at the time weighted average ask price between 4:20 pm and 4:25 pm Sydney time. New options are simultaneously sold at the time weighted average bid price.
  • What is the cut-off date to receive a distribution from AYLD?

    To receive a distribution, you must own the ETF – the trade must have fully settled – on the record date. This means that you should aim to buy AYLD at least two business days before the record date (as ETF trades take two business days to settle) should you wish to receive a distribution.

    The record date is the date on which Computershare, the share registry, records who owns which ETFs and therefore who is entitled to distributions. As AYLD has multiple distributions throughout the year, it has multiple record dates throughout the year too.
  • When do I receive my distributions from AYLD?

    Distributions are paid on the payment date, which is announced ahead of time on the ASX’s website. Generally speaking, the payment date falls two weeks after the record date. On the payment date, investors will receive the cash – or new ETFs, if they choose to reinvest their distributions. Franking credits are distributed via the year-end AMMA statement, which is usually issued around the end of financial year (in July or early August). Details of payment dates and frequencies are available on the fund’s website.
  • How can I know the size of a distribution?

    We (Global X) will usually forecast how big we expect a distribution to be around one week prior to the ex-distribution date. This forecast is made public on the announcement date. While these forecasts will be as accurate as practically possible, they are only estimates and are subject to corrections and revisions.

    The size of distributions is primarily determined by markets in the fund’s underlying assets. Variables include – but are not limited to – dividends and price movements in the fund's underlying shares, the size of option premiums, prevailing interest rates and market volatility.

    Fund operations can also impact distribution sizes. Management fees, transactional and operating costs typically lower a distribution. Distributions can also be impacted by the number of units in the fund on issue on the ex-distribution date. Where the number of units on issue declines in the leadup to the ex-distribution date, the distribution yield should be expected to expand. (Income accumulated between distributions is therefore spread over fewer units). An opposite dilutive effect occurs when the number of units on issue increases in the leadup to ex-distribution dates.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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