MSCI Portugal ETF

Fund Summary

The Global X MSCI Portugal ETF (PGAL) invests in among the largest and most liquid companies in Portugal.

Fund Objective

The Global X MSCI Portugal ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Portugal Plus 25/50 Index.


Efficient Access

Efficient access to a broad basket of Portuguese securities.

Targeted Exposure

The fund targets exposure to a single country.

Fund Details As of 7/19/18

Ticker PGAL
Primary Exchange NYSE Arca
CUSIP 37950E192
ISIN US37950E1929
Bloomberg Index Ticker M1CXGXE
Net Assets $43,135,491
Management Fee 0.55%
Other Expenses 0.03%
Annual Fund Operating Expense 0.58%
Inception Date 11/12/13
Shares Outstanding 3,350,000
30-Day SEC Yield 3.36%
Distribution Frequency Annually
Distribution Calendar

Fund Prices

As of 7/19/18
NAV Price
Net Asset Value $12.88 Closing Price $12.83
Daily Change -$0.03 -0.27% Daily Change -$0.03 -0.23%

Performance History

Cumulative %

Data as of month end (6/30/18)

Fund NAV Closing Price Index
1 Month 1.59% 1.84% 1.62%
3 Months 3.57% 3.50% 3.32%
6 Months 6.78% 6.81% 6.69%
Since Inception -2.74% -3.02% -2.06%

Avg Annualized %

Data as of month end (6/30/18)

Fund NAV Closing Price Index
1 Year 17.11% 16.22% 17.25%
3 Years 8.32% 8.27% 8.26%
5 Years -- -- --
Since Inception -0.60% -0.66% -0.45%

Avg Annualized %

Data as of quarter end (6/30/18)

Fund NAV Closing Price Index
1 Year 17.11% 16.22% 17.25%
3 Years 8.32% 8.27% 8.26%
5 Years -- -- --
Since Inception -0.60% -0.66% -0.45%

The Fund's name, investment objective and investment strategies changed effective December 6, 2016. Index performance prior to December 6, 2016, will reflect the investment objective and strategies of the prior when it was the FTSE Portugal 20 Index. The Hybrid Portugal Index (noted as "Index" above in the chart) consists of the FTSE Portugal 20 Index from the inception of the Fund through December 5, 2016, and the MSCI All Portugal Plus 25/50 Index going forward.

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized Return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Fund Characteristics As of 7/19/18

Return on Equity 9.50%
Average Market Cap $4,042.00 M
2016 2017
Price-to-earnings 18.06 15.79
Price-to-book value 1.52 1.47

Source: AltaVista Research, LLC

Fund Risk Stats As of 7/19/18

Versus Beta
S&P 500 0.94
MSCI Emg. Mkts 0.70
Standard Deviation 17.50%

Source: AltaVista Research, LLC

Top 10 Holdings

As of 7/19/18
Net Assets % Name Market Price ($) Shares Held Market Value ($)
22.76 GALP ENERGIA SGPS SA 19.67 499,144 9,816,062.01
22.69 EDP-ENERGIAS DE PORTUGAL 4.01 2,443,267 9,788,502.62
4.93 EDP RENOVAVEIS SA 10.32 206,285 2,128,390.54
4.43 NOS SGPS 5.55 344,690 1,912,498.34
4.33 BANCO COMERCIAL PORTUGUES 0.30 6,137,791 1,868,835.26
4.33 JERONIMO MARTINS 15.15 123,241 1,866,919.26
4.30 NAVIGATOR CO SA/ THE 5.90 314,254 1,855,658.30
4.25 REDES ENERGETICAS NACIONA 2.89 634,139 1,832,150.21
3.91 ALTRI SGPS SA 10.56 159,757 1,686,358.93
3.59 SEMAPA-SOCIEDADE DE INVES 25.61 60,429 1,547,320.35
Holdings are subject to change.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Since the Fund’s shares typically do not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares, the NAV of the Fund is used to calculate market returns.

Carefully consider the fund’s investment objectives, risks, and charges and expenses. This and other information can be found in the fund’s prospectus. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Solactive AG, FTSE, Standard & Poors, NASDAQ, Indxx, or MSCI nor do these companies make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO nor Global X is affiliated with Solactive AG, FTSE, Standard & Poors, NASDAQ, Indxx, or MSCI.

Investing involves risk, including the possible loss of principal. International investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. The economies of Europe are highly dependent on each other, both as key trading partners and as in many cases as fellow members maintaining the euro. Reduction in trading activity among European countries may cause an adverse impact on each nation’s individual economies. The European financial markets have recently experienced volatility and adverse trends due to concerns about rising government debt levels, ability to service debt, and potential for defaults of several European countries, including Greece, Spain, Ireland, Italy and Portugal. Securities focusing on a single country may be subject to higher volatility. Current and future holdings are subject to risk.

High short-term performance of the fund is unusual and investors should not expect such performance to be repeated.