ONOF

Adaptive U.S. Risk Management ETF

Morningstar Rating™ - Overall rating out of 237 Tactical Allocation funds, based on risk-adjusted returns as of 03/31/2025

Reasons to Consider ONOF

Risk Management

ONOF is designed to maintain exposure to the equity markets when the trending environment is positive, and then move to a risk-off position when that trend reverses.

Four Signal Approach

ONOF incorporates moving average, convergence/ divergence (MACD), drawdown, and volatility as indicators to shift between equity and fixed income exposure – each receiving an equal vote in the strategy.

Lessen Downside Risk

The strategy seeks to mitigate the extent of drawdowns while remaining invested in equities as much as possible.

Key Information As of 05/05/25

Inception Date	01/12/21
Total Expense Ratio	0.39%
Net Assets	$115.96 million
NAV	$31.26
Fact Sheet	View the document

ETF Summary

The Global X Adaptive U.S. Risk Management ETF (ONOF) seeks to provide a risk management solution by employing four technical indicators to dictate whether the Fund is participating in the U.S. equity markets or in a defensive stance in short term treasuries.

ETF Objective

The Global X Adaptive U.S. Risk Management ETF (ONOF) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Adaptive Wealth Strategies U.S. Risk Management Index.

Trading Details As of 05/05/25

Ticker	ONOF
Bloomberg Index Ticker	AWSRSK
CUSIP	37954Y194
ISIN	US37954Y1947
Primary Exchange	NYSE Arca
Shares Outstanding	3,710,000
Number of Holdings	506
30-Day Median Bid-Ask Spread	0.16%

Distributions As of 05/05/25

30-Day SEC Yield	2.48%
Distribution Frequency	Semi-Annually

ETF Prices As of 05/05/25

NAV	$31.26	Daily Change	-$0.18	-0.57%
Market Price	$31.26	Daily Change	-$0.16	-0.51%

As of recent (03/31/25) As of recent (03/31/25)	Fund NAV	Market Price	Index
1 Year	0.02%	-0.11%	0.51%
3 Years	8.74%	8.66%	9.29%
Since Inception	7.67%	7.68%	7.95%
1 Year	-0.92%	-1.05%	-0.39%
3 Years	7.78%	7.91%	8.31%
Since Inception	6.25%	6.29%	6.54%
Year-to-Date	-7.54%	-7.53%	-7.45%
1 Month	-8.81%	-8.65%	-8.77%
3 Months	-7.54%	-7.53%	-7.45%
Since Inception	36.55%	36.62%	38.06%
Year-to-Date	-12.13%	-12.04%	-11.97%
1 Month	-4.97%	-4.88%	-4.89%
3 Months	-14.76%	-14.72%	-14.62%
Since Inception	29.77%	29.96%	31.31%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). 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. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
6.61	MSFT	MICROSOFT CORP	2588173	436.17	17,572	7,664,379.24
6.05	AAPL	APPLE INC	2046251	198.89	35,257	7,012,264.73
5.53	NVDA	NVIDIA CORP	2379504	113.82	56,361	6,415,009.02
3.62	AMZN	AMAZON.COM INC	2000019	186.35	22,500	4,192,875.00
2.69	META	META PLATFORMS INC	B7TL820	599.27	5,200	3,116,204.00
1.98	GOOGL	ALPHABET INC-CL A	BYVY8G0	164.21	13,977	2,295,163.17
1.91	AVGO	BROADCOM INC	BDZ78H9	200.72	11,008	2,209,525.76
1.77	GOOG	ALPHABET INC-CL C	BYY88Y7	166.05	12,361	2,052,544.05
1.62	TSLA	TESLA INC	B616C79	280.26	6,697	1,876,901.22
1.46	JPM	JPMORGAN CHASE & CO	2190385	252.56	6,723	1,697,960.88
1.44	LLY	ELI LILLY & CO	2516152	821.46	2,033	1,670,028.18
1.40	BRK/B	BERKSHIRE HATH-B	2073390	512.15	3,172	1,624,539.80
1.24	V	VISA INC-CLASS A SHARES	B2PZN04	348.64	4,139	1,443,020.96
0.98	NFLX	NETFLIX INC	2857817	1,134.06	999	1,132,925.94
0.95	MA	MASTERCARD INC - A	B121557	561.92	1,951	1,096,306.92
0.94	XOM	EXXON MOBIL CORP	2326618	103.27	10,522	1,086,606.94
0.93	COST	COSTCO WHOLESALE CORP	2701271	1,016.19	1,061	1,078,177.59
0.90	WMT	WALMART INC	2936921	99.33	10,463	1,039,289.79
0.75	PG	PROCTER & GAMBLE CO/THE	2704407	158.83	5,469	868,641.27
0.75	JNJ	JOHNSON & JOHNSON	2475833	155.00	5,594	867,070.00
0.75	UNH	UNITEDHEALTH GROUP INC	2917766	404.81	2,135	864,269.35
0.72	HD	HOME DEPOT INC	2434209	361.73	2,308	834,872.84
0.69	ABBV	ABBVIE INC	B92SR70	196.07	4,106	805,063.42
0.56	KO	COCA-COLA CO/THE	2206657	71.70	9,044	648,454.80
0.55	BAC	BANK OF AMERICA CORP	2295677	41.12	15,525	638,388.00
0.54	PM	PHILIP MORRIS IN	B2PKRQ3	173.19	3,625	627,813.75
0.51	CRM	SALESFORCE INC	2310525	272.63	2,169	591,334.47
0.50	PLTR	PALANTIR TECHN-A	BN78DQ4	123.77	4,713	583,328.01
0.50	WFC	WELLS FARGO & CO	2649100	73.85	7,783	574,774.55
0.49	ORCL	ORACLE CORP	2661568	149.29	3,788	565,510.52
0.48	CSCO	CISCO SYSTEMS INC	2198163	59.32	9,326	553,218.32
0.47	IBM	IBM	2005973	249.18	2,164	539,225.52
0.46	ABT	ABBOTT LABORATORIES	2002305	132.60	4,039	535,571.40
0.46	CVX	CHEVRON CORP	2838555	135.50	3,921	531,295.50
0.46	MCD	MCDONALD'S CORP	2550707	315.72	1,673	528,199.56
0.46	GE	GE AEROSPACE	BL59CR9	208.94	2,526	527,782.44
0.43	LIN	LINDE PLC	BNZHB81	452.49	1,113	503,621.37
0.42	MRK	MERCK & CO. INC.	2778844	82.84	5,923	490,661.32
0.41	NOW	SERVICENOW INC	B80NXX8	978.05	482	471,420.10
0.40	T	AT&T INC	2831811	27.51	16,819	462,690.69
0.39	ACN	ACCENTURE PLC-CL A	B4BNMY3	309.32	1,466	453,456.06
0.38	ISRG	INTUITIVE SURGICAL INC	2871301	531.82	831	441,942.42
0.37	VZ	VERIZON COMMUNIC	2090571	43.54	9,894	430,784.76
0.37	PEP	PEPSICO INC	2681511	131.99	3,219	424,875.81
0.35	GS	GOLDMAN SACHS GROUP INC	2407966	559.56	733	410,157.48
0.35	UBER	UBER TECHNOLOGIES INC	BK6N347	85.43	4,783	408,611.69
0.35	INTU	INTUIT INC	2459020	632.18	640	404,595.20
0.35	RTX	RTX CORPORATION	BM5M5Y3	128.59	3,129	402,358.11
0.34	BKNG	BOOKING HOLDINGS INC	BDRXDB4	5,191.12	76	394,525.12
0.34	ADBE	ADOBE INC	2008154	381.06	1,034	394,016.04
0.34	DIS	WALT DISNEY CO/THE	2270726	92.11	4,263	392,664.93
0.34	PGR	PROGRESSIVE CORP	2705024	282.16	1,375	387,970.00
0.33	AMD	ADVANCED MICRO DEVICES	2007849	100.59	3,799	382,141.41
0.33	TMO	THERMO FISHER	2886907	422.27	899	379,620.73
0.32	SPGI	S&P GLOBAL INC	BYV2325	505.90	730	369,307.00
0.32	CAT	CATERPILLAR INC	2180201	323.11	1,136	367,052.96
0.31	QCOM	QUALCOMM INC	2714923	139.44	2,612	364,217.28
0.31	AXP	AMERICAN EXPRESS CO	2026082	278.92	1,305	363,989.45
0.31	BSX	BOSTON SCIENTIFIC CORP	2113434	104.24	3,466	361,295.84
0.31	AMGN	AMGEN INC	2023607	280.06	1,263	353,715.78
0.30	TXN	TEXAS INSTRUMENTS INC	2885409	163.78	2,146	351,471.88
0.30	MS	MORGAN STANLEY	2262314	120.53	2,909	350,607.23
0.30	TJX	TJX COMPANIES INC	2989301	128.94	2,652	341,948.88
0.29	BLK	BLACKROCK INC	BMZBBT7	920.53	362	333,231.86
0.28	HON	HONEYWELL INTL	2020459	214.25	1,537	329,302.25
0.28	NEE	NEXTERA ENERGY INC	2328915	66.10	4,857	321,047.70
0.28	PFE	PFIZER INC	2684703	23.87	13,414	320,192.18
0.27	BA	BOEING CO/THE	2108601	186.46	1,694	315,863.24
0.27	UNP	UNION PACIFIC CORP	2914734	216.53	1,433	310,287.49
0.27	CMCSA	COMCAST CORP-CLASS A	2044545	34.45	8,952	308,396.40
0.27	C	CITIGROUP INC	2297907	70.80	4,350	307,980.00
0.26	VRTX	VERTEX PHARM	2931034	500.19	609	304,615.71
0.26	GILD	GILEAD SCIENCES INC	2369174	102.81	2,946	302,878.26
0.26	LOW	LOWE'S COS INC	2536763	225.19	1,337	301,079.03
0.26	DHR	DANAHER CORP	2250870	197.40	1,522	300,442.80
0.26	AMAT	APPLIED MATERIALS INC	2046552	154.61	1,925	297,624.25
0.26	SCHW	SCHWAB (CHARLES) CORP	2779397	83.37	3,542	295,296.54
0.25	ADP	AUTOMATIC DATA PROCESSING	2065308	303.96	966	293,625.36
0.25	PANW	PALO ALTO NETWORKS INC	B87ZMX0	188.13	1,542	290,096.46
0.25	SYK	STRYKER CORP	2853688	381.36	753	287,164.08
0.25	TMUS	T-MOBILE US INC	B94Q9V0	248.30	1,155	286,786.50
0.25	DE	DEERE & CO	2261203	483.09	593	286,474.66
0.24	ETN	EATON CORP PLC	B8KQN82	299.62	933	279,545.46
0.24	CB	CHUBB LTD	B3BQMF6	287.83	954	274,589.82
0.23	COP	CONOCOPHILLIPS	2685717	87.61	3,067	268,699.87
0.23	MMC	MARSH & MCLENNAN COS	2567741	227.42	1,167	265,400.68
0.23	LMT	LOCKHEED MARTIN CORP	2522096	471.56	562	265,016.72
0.23	GEV	GE VERNOVA INC	BP6H4Y1	401.10	654	262,319.40
0.22	MDT	MEDTRONIC PLC	BTN1Y11	83.45	3,052	254,689.40
0.22	MELI	MERCADOLIBRE INC	B23X1H3	2,246.54	112	251,612.48
0.22	FI	FISERV INC	2342034	185.50	1,347	249,868.50
0.22	AMT	AMERICAN TOWER CORP	B7FBFL2	223.87	1,113	249,167.31
0.21	CRWD	CROWDSTRIKE HO-A	BJJP138	443.47	549	243,465.03
0.21	BMY	BRISTOL-MYERS SQUIBB CO	2126335	50.06	4,840	242,290.40
0.21	MO	ALTRIA GROUP INC	2692632	59.87	4,046	242,234.02
0.21	CME	CME GROUP INC	2965839	282.56	857	242,153.92
0.21	SO	SOUTHERN CO/THE	2829601	91.05	2,611	237,731.55
0.20	ICE	INTERCONT EXCH I	BFSSDS9	173.98	1,359	236,438.82
0.20	ADI	ANALOG DEVICES INC	2032067	197.72	1,183	233,902.76
0.20	BX	BLACKSTONE INC	BKF2SL7	136.11	1,715	233,428.65
0.20	PLD	PROLOGIS INC	B44WZD7	105.33	2,208	232,568.64
0.20	ELV	ELEVANCE HEALTH INC	BSPHGL4	416.30	552	229,797.60
0.20	APH	AMPHENOL CORP-CL A	2145084	80.17	2,845	228,083.65
0.20	LRCX	LAM RESEARCH CORP	BSML4N7	73.91	3,076	227,347.16
0.19	WM	WASTE MANAGEMENT INC	2937667	234.79	960	225,398.40
0.19	ANET	ARISTA NETWORKS INC	BL9XPM3	90.38	2,490	225,046.20
0.19	WELL	WELLTOWER INC	BYVYHH4	150.93	1,490	224,885.70
0.19	DUK	DUKE ENERGY CORP	B7VD3F2	120.75	1,847	223,025.25
0.19	KLAC	KLA CORP	2480138	693.29	319	221,159.51
0.19	SPOT	SPOTIFY TECHNOLOGY SA	BFZ1K46	637.65	342	218,076.30
0.19	CI	THE CIGNA GROUP	BHJ0775	333.01	654	217,788.54
0.19	TT	TRANE TECHNOLOGIES PLC	BK9ZQ96	402.90	540	217,566.00
0.19	SBUX	STARBUCKS CORP	2842255	81.66	2,659	217,133.94
0.19	MDLZ	MONDELEZ INTER-A	B8CKK03	67.80	3,201	217,027.80
0.19	MCK	MCKESSON CORP	2378534	707.00	304	214,928.00
0.19	MU	MICRON TECHNOLOGY INC	2588184	80.42	2,668	214,560.56
0.18	INTC	INTEL CORP	2463247	20.27	10,346	209,713.42
0.18	MSTR	MICROSTRATEGY INC-CL A	2974329	386.53	542	209,499.26
0.18	CDNS	CADENCE DESIGN SYS INC	2302232	308.83	658	203,210.14
0.18	EQIX	EQUINIX INC	BVLZX12	883.21	230	203,138.30
0.18	CVS	CVS HEALTH CORP	2577609	67.10	3,025	202,977.50
0.17	SHW	SHERWIN-WILLIAMS CO/THE	2804211	359.82	559	201,139.38
0.17	AJG	ARTHUR J GALLAGHER & CO	2359506	334.86	595	199,241.70
0.17	TDG	TRANSDIGM GROUP INC	B11FJK3	1,472.62	132	194,385.84
0.17	ORLY	O'REILLY AUTOMOTIVE INC	B65LWX6	1,387.14	138	191,425.32
0.16	PH	PARKER HANNIFIN CORP	2671501	616.57	308	189,903.56
0.16	CEG	CONSTELLATION ENERGY	BMH4FS1	248.27	756	187,692.12
0.16	KKR	KKR & CO INC	BG1FRR1	114.79	1,618	185,730.22
0.16	MMM	3M CO	2595708	140.80	1,312	184,729.60
0.15	CL	COLGATE-PALMOLIVE CO	2209106	90.74	1,973	179,030.02
0.15	SNPS	SYNOPSYS INC	2867719	477.41	372	177,596.52
0.15	WMB	WILLIAMS COS INC	2967181	60.17	2,945	177,200.65
0.15	MCO	MOODY'S CORP	2252058	464.68	379	176,113.72
0.15	CTAS	CINTAS CORP	2197137	211.82	829	175,598.78
0.15	NOC	NORTHROP GRUMMAN CORP	2648806	493.33	351	173,158.83
0.15	ZTS	ZOETIS INC	B95WG16	158.06	1,093	172,759.58
0.15	COF	CAPITAL ONE FINA	2654461	187.90	912	171,364.80
0.15	ITW	ILLINOIS TOOL WORKS	2457552	240.87	710	171,017.70
0.15	UPS	UNITED PARCEL-B	2517382	95.56	1,771	169,236.76
0.15	AON	AON PLC-CLASS A	BLP1HW5	356.24	472	168,142.92
0.14	PYPL	PAYPAL HOLDINGS INC	BYW36M8	68.54	2,436	166,963.44
0.14	APP	APPLOVIN CORP-CLASS A	BMV3LG4	301.84	549	165,710.16
0.14	CMG	CHIPOTLE MEXICAN	B0X7DZ3	50.01	3,280	164,032.80
0.14	DASH	DOORDASH INC - A	BN13P03	205.40	797	163,703.80
0.14	MSI	MOTOROLA SOLUTIONS INC	B5BKPQ4	405.37	403	163,364.11
0.14	FTNT	FORTINET INC	B5B2106	108.69	1,500	163,035.00
0.14	CRH	CRH PLC	B01ZKD6	98.25	1,655	162,603.75
0.14	NKE	NIKE INC -CL B	2640147	57.35	2,830	162,300.50
0.14	PNC	PNC FINANCIAL SE	2692665	165.70	964	159,734.80
0.14	ECL	ECOLAB INC	2304227	255.10	613	156,376.30
0.13	HCA	HCA HEALTHCARE INC	B4MGBG6	349.38	438	153,028.44
0.13	USB	US BANCORP	2736035	41.46	3,680	152,572.80
0.13	HWM	HOWMET AEROSPACE INC	BKLJ8V2	154.34	986	152,179.24
0.13	REGN	REGENERON PHARMACEUTICALS	2730190	603.58	252	152,102.16
0.13	AZO	AUTOZONE INC	2065955	3,775.55	40	151,022.00
0.13	EMR	EMERSON ELECTRIC CO	2313405	108.38	1,388	150,431.44
0.13	GD	GENERAL DYNAMICS CORP	2365161	272.14	551	149,949.14
0.13	ROP	ROPER TECHNOLOGIES INC	2749602	571.13	260	148,493.80
0.13	EOG	EOG RESOURCES INC	2318024	108.52	1,368	148,455.36
0.13	TRV	TRAVELERS COS INC/THE	2769503	267.54	553	147,949.62
0.13	NEM	NEWMONT CORP	2636607	53.04	2,779	147,398.16
0.13	ADSK	AUTODESK INC	2065159	280.07	525	147,036.75
0.13	CARR	CARRIER GLOBAL CORP	BK4N0D7	71.04	2,069	146,971.42
0.13	APD	AIR PRODS & CHEM	2011602	274.02	536	146,876.53
0.13	BK	BANK NY MELLON	B1Z77F6	82.18	1,781	146,362.58
0.13		CASH		1.00	144,544	144,543.90
0.13	JCI	JOHNSON CONTROLS	BY7QL61	89.33	1,618	144,535.94
0.12	MAR	MARRIOTT INTL-A	2210614	247.27	576	142,427.52
0.12	HLT	HILTON WORLDWIDE	BYVMW06	238.96	589	140,747.44
0.12	AEP	AMERICAN ELECTRIC POWER	2026242	107.44	1,305	140,209.20
0.12	RCL	ROYAL CARIBBEAN	2754907	228.75	611	139,766.25
0.12	DLR	DIGITAL REALTY TRUST INC	B03GQS4	166.64	816	135,978.24
0.12	CSX	CSX CORP	2160753	28.47	4,735	134,805.45
0.12	APO	APOLLO GLOBAL MA	BN44JF6	133.98	991	132,774.18
0.11	MRVL	MARVELL TECHNOLOGY INC	BNKJSM5	61.98	2,131	132,079.38
0.11	FCX	FREEPORT-MCMORAN INC	2352118	37.35	3,522	131,546.70
0.11	KMI	KINDER MORGAN INC	B3NQ4P8	27.16	4,793	130,189.86
0.11	AFL	AFLAC INC	2026361	105.75	1,231	130,178.25
0.11	ALL	ALLSTATE CORP	2019952	200.25	650	130,162.50
0.11	WDAY	WORKDAY INC-CLASS A	B8K6ZD1	248.34	523	129,881.82
0.11	SNOW	SNOWFLAKE INC-CLASS A	BN134B7	167.87	771	129,427.77
0.11	CPRT	COPART INC	2208073	61.05	2,110	128,815.50
0.11	TFC	TRUIST FINANCIAL CORP	BKP7287	39.35	3,273	128,792.55
0.11	ABNB	AIRBNB INC-CLASS A	BMGYYH4	124.89	1,029	128,511.81
0.11	LNG	CHENIERE ENERGY INC	2654364	235.51	545	128,352.95
0.11	SPG	SIMON PROPERTY GROUP INC	2812452	160.86	796	128,044.56
0.11	AIG	AMERICAN INTERNA	2027342	83.05	1,530	127,066.50
0.11	RSG	REPUBLIC SERVICES INC	2262530	250.73	504	126,367.92
0.11	COR	CENCORA INC	2795393	291.97	427	124,671.19
0.11	NSC	NORFOLK SOUTHERN CORP	2641894	223.63	557	124,561.91
0.11	O	REALTY INCOME CORP	2724193	57.21	2,163	123,741.99
0.11	GM	GENERAL MOTORS CO	B665KZ5	45.38	2,705	122,752.90
0.10	FICO	FAIR ISAAC CORP	2330299	2,080.41	58	120,663.78
0.10	FDX	FEDEX CORP	2142784	216.99	556	120,646.44
0.10	KR	KROGER CO	2497406	72.88	1,649	120,179.12
0.10	PAYX	PAYCHEX INC	2674458	149.45	798	119,261.10
0.10	SRE	SEMPRA	2138158	75.36	1,571	118,390.56
0.10	BDX	BECTON DICKINSON AND CO	2087807	167.00	708	118,236.00
0.10	DFS	DISCOVER FINANCI	B1YLC43	190.24	621	118,139.04
0.10	SLB	SCHLUMBERGER LTD	2779201	33.76	3,495	117,991.20
0.10	PWR	QUANTA SERVICES INC	2150204	322.62	364	117,433.68
0.10	PSA	PUBLIC STORAGE	2852533	300.34	391	117,432.94
0.10	VST	Vistra Corp.	BZ8VJQ8	140.00	838	117,320.00
0.10	FAST	FASTENAL CO	2332262	82.42	1,422	117,201.24
0.10	OKE	ONEOK INC	2130109	81.18	1,440	116,899.20
0.10	GWW	WW GRAINGER INC	2380863	1,065.48	109	116,137.32
0.10	AMP	AMERIPRISE FINANCIAL INC	B0J7D57	482.41	240	115,778.40
0.10	CCI	CROWN CASTLE INC	BTGQCX1	106.98	1,081	115,645.38
0.10	MPC	MARATHON PETROLEUM CORP	B3K3L40	143.33	801	114,807.33
0.10	PCAR	PACCAR INC	2665861	89.45	1,283	114,764.35
0.10	EXC	EXELON CORP	2670519	46.00	2,493	114,678.00
0.10	ROST	ROSS STORES INC	2746711	141.47	806	114,024.82
0.10	D	DOMINION ENERGY INC	2542049	54.42	2,092	113,846.64
0.10	KVUE	KENVUE INC	BQ84ZQ6	23.64	4,782	113,046.48
0.10	MET	METLIFE INC	2573209	77.41	1,446	111,934.87
0.10	TEL	TE CONNECTIVITY PLC	BRC3N84	149.85	746	111,788.10
0.10	FLUT	FLUTTER ENTER-DI	BWZMZF4	249.25	445	110,916.25
0.10	AXON	AXON ENTERPRISE INC	BDT5S35	621.40	178	110,609.20
0.10	PSX	PHILLIPS 66	B78C4Y8	106.90	1,029	110,000.10
0.09	EW	EDWARDS LIFESCIENCES CORP	2567116	75.11	1,448	108,759.28
0.09	KMB	KIMBERLY-CLARK CORP	2491839	130.90	829	108,516.10
0.09	CTVA	CORTEVA INC	BK73B42	62.41	1,719	107,282.79
0.09	URI	UNITED RENTALS INC	2134781	657.73	163	107,209.99
0.09	TGT	TARGET CORP	2259101	94.02	1,140	107,182.80
0.09	XEL	XCEL ENERGY INC	2614807	70.89	1,493	105,838.77
0.09	MNST	MONSTER BEVERAGE CORP	BZ07BW4	60.91	1,736	105,739.76
0.09	FIS	FIDELITY NATIONA	2769796	78.32	1,347	105,497.04
0.09	MSCI	MSCI INC	B2972D2	550.41	190	104,577.90
0.09	VRSK	VERISK ANALYTICS INC	B4P9W92	294.75	352	103,752.00
0.09	CMI	CUMMINS INC	2240202	302.30	343	103,688.90
0.09	LHX	L3HARRIS TECHNOLOGIES INC	BK9DTN5	218.62	473	103,407.26
0.09	YUM	YUM! BRANDS INC	2098876	146.58	699	102,459.42
0.09	COIN	COINBASE GLOBA-A	BMC9P69	199.40	507	101,095.80
0.09	F	FORD MOTOR CO	2615468	10.17	9,829	99,960.93
0.09	AME	AMETEK INC	2089212	170.27	582	99,097.14
0.09	OTIS	OTIS WORLDWIDE CORP	BK531S8	97.41	1,010	98,384.10
0.09	KDP	KEURIG DR PEPPER INC	BD3W133	34.45	2,847	98,079.15
0.09	PEG	PUB SERV ENTERP	2707677	78.35	1,251	98,015.85
0.09	CTSH	COGNIZANT TECH-A	2257019	77.91	1,258	98,010.78
0.08	IDXX	IDEXX LABORATORIES INC	2459202	475.07	206	97,864.42
0.08	CBRE	CBRE GROUP INC - A	B6WVMH3	125.96	771	97,115.16
0.08	ED	CONSOLIDATED EDISON INC	2216850	109.52	874	95,720.48
0.08	VLO	VALERO ENERGY CORP	2041364	119.34	800	95,472.00
0.08	NET	CLOUDFLARE INC - CLASS A	BJXC5M2	124.64	763	95,100.32
0.08	CAH	CARDINAL HEALTH INC	2175672	151.99	618	93,929.82
0.08	CHTR	CHARTER COMMUN-A	BZ6VT82	394.24	238	93,829.12
0.08	PCG	P G & E CORP	2689560	16.92	5,537	93,686.04
0.08	EA	ELECTRONIC ARTS INC	2310194	154.74	604	93,462.96
0.08	RBLX	ROBLOX CORP -CLASS A	BMWBC20	71.82	1,300	93,366.00
0.08	TTWO	TAKE-TWO INTERAC	2122117	225.32	414	93,282.48
0.08	PRU	PRUDENTIAL FINANCIAL INC	2819118	102.67	901	92,505.67
0.08	HIG	HARTFORD INSURANCE GROUP	2476193	125.71	735	92,396.85
0.08	BKR	BAKER HUGHES CO	BDHLTQ5	36.75	2,512	92,316.00
0.08	ETR	ENTERGY CORP	2317087	84.99	1,086	92,299.14
0.08	VMC	VULCAN MATERIALS CO	2931205	270.04	337	91,003.48
0.08	DHI	DR HORTON INC	2250687	126.07	720	90,770.40
0.08	HES	HESS CORP	2023748	128.80	703	90,546.40
0.08	ALNY	ALNYLAM PHARMACE	B00FWN1	273.55	328	89,724.40
0.08	GLW	CORNING INC	2224701	45.41	1,975	89,684.75
0.08	VEEV	VEEVA SYSTEMS INC-CLASS A	BFH3N85	236.99	378	89,582.22
0.08	RMD	RESMED INC	2732903	240.66	369	88,803.54
0.08	SYY	SYSCO CORP	2868165	70.63	1,251	88,358.13
0.08	WEC	WEC ENERGY GROUP INC	BYY8XK8	108.70	806	87,612.20
0.07	TRGP	TARGA RESOURCES CORP	B55PZY3	159.25	542	86,313.50
0.07	EBAY	EBAY INC	2293819	70.31	1,227	86,270.37
0.07	VICI	VICI PROPERTIES INC	BYWH073	31.89	2,688	85,720.32
0.07	ACGL	ARCH CAPITAL GROUP LTD	2740542	92.58	922	85,358.76
0.07	TEAM	ATLASSIAN CORP-CL A	BQ1PC76	207.78	408	84,774.24
0.07	MLM	MARTIN MARIETTA MATERIALS	2572079	542.19	156	84,581.64
0.07	FERG	FERGUSON ENTERPRISES INC	BS6VHW3	172.38	485	83,604.30
0.07	WAB	WABTEC CORP	2955733	190.79	438	83,566.02
0.07	EFX	EQUIFAX INC	2319146	262.35	316	82,902.60
0.07	NDAQ	NASDAQ INC	2965107	78.19	1,060	82,881.40
0.07	DDOG	DATADOG INC - CLASS A	BKT9Y49	105.70	783	82,763.10
0.07	IT	GARTNER INC	2372763	426.98	192	81,980.16
0.07	GEHC	GE HEALTHCARE TECHNOLOGY	BL6JPG8	69.37	1,175	81,509.75
0.07	HUBS	HUBSPOT INC	BR4T3B3	639.40	127	81,203.80
0.07	EXR	EXTRA SPACE STORAGE INC	B02HWR9	149.38	542	80,963.96
0.07	CSGP	COSTAR GROUP INC	2262864	77.10	1,039	80,106.90
0.07	WTW	WILLIS TOWERS WATSON PLC	BDB6Q21	309.29	259	80,106.11
0.07	IR	INGERSOLL-RAND INC	BL5GZ82	76.95	1,038	79,874.10
0.07	A	AGILENT TECHNOLOGIES INC	2520153	108.37	735	79,651.95
0.07	HUM	HUMANA INC	2445063	256.69	308	79,060.52
0.07	GIS	GENERAL MILLS INC	2367026	55.05	1,428	78,611.40
0.07	VRT	VERTIV HOLDINGS CO-A	BL3LWS8	94.83	811	76,907.13
0.07	AVB	AVALONBAY COMMUNITIES INC	2131179	210.02	366	76,867.32
0.07	TPL	TEXAS PACIFIC LAND CORP	BM99VY2	1,321.61	58	76,653.38
0.07	LULU	LULULEMON ATHLETICA INC	B23FN39	278.55	275	76,601.25
0.07	MPWR	MONOLITHIC POWER	B01Z7J1	627.40	122	76,542.80
0.07	STZ	CONSTELLATION-A	2170473	188.46	403	75,949.38
0.06	DXCM	DEXCOM INC	B0796X4	80.27	927	74,410.29
0.06	ROK	ROCKWELL AUTOMATION INC	2754060	253.84	293	74,375.12
0.06	EQT	EQT CORP	2319414	53.52	1,357	72,626.64
0.06	CVNA	CARVANA CO	BYQHPG3	259.57	276	71,641.32
0.06	CNC	CENTENE CORP	2807061	59.78	1,194	71,377.32
0.06	ARES	ARES MANAGEMENT CORP - A	BF14BT1	160.76	441	70,895.16
0.06	XYL	XYLEM INC	B3P2CN8	122.33	575	70,339.75
0.06	ODFL	OLD DOMINION FREIGHT LINE	2656423	156.23	446	69,678.58
0.06	DAL	DELTA AIR LINES INC	B1W9D46	45.51	1,531	69,675.81
0.06	DELL	DELL TECHNOLOGIES -C	BHKD3S6	94.36	734	69,260.24
0.06	GRMN	GARMIN LTD	B3Z5T14	190.15	364	69,214.60
0.06	MTB	M & T BANK CORP	2340168	175.43	393	68,943.99
0.06	AWK	AMERICAN WATER W	B2R3PV1	148.15	463	68,593.45
0.06	OXY	OCCIDENTAL PETROLEUM CORP	2655408	38.81	1,749	67,878.69
0.06	NUE	NUCOR CORP	2651086	121.06	558	67,549.67
0.06	ANSS	ANSYS INC	2045623	324.89	207	67,252.23
0.06	IRM	IRON MOUNTAIN INC	BVFTF03	97.17	692	67,241.64
0.06	DTE	DTE ENERGY COMPANY	2280220	136.69	490	66,978.10
0.06	XYZ	BLOCK INC	BYNZGK1	46.64	1,428	66,601.92
0.06	VTR	VENTAS INC	2927925	66.62	995	66,286.90
0.06	TSCO	TRACTOR SUPPLY COMPANY	2900335	51.24	1,268	64,972.32
0.06	IQV	IQVIA HOLDINGS INC	BDR73G1	152.30	421	64,118.30
0.06	BR	BROADRIDGE FINL	B1VP7R6	232.18	276	64,081.68
0.06	PPL	PPL CORP	2680905	36.28	1,757	63,743.96
0.05	CPNG	COUPANG INC	BNYHDF3	23.99	2,630	63,093.70
0.05	BRO	BROWN & BROWN INC	2692687	110.40	571	63,038.40
0.05	STT	STATE STREET CORP	2842040	90.57	695	62,946.15
0.05	AEE	AMEREN CORPORATION	2050832	99.55	632	62,915.60
0.05	RJF	RAYMOND JAMES	2718992	142.13	438	62,252.94
0.05	MKL	MARKEL GROUP INC	2566436	1,867.33	33	61,621.89
0.05	LEN	LENNAR CORP-A	2511920	109.21	559	61,048.39
0.05	SBAC	SBA COMMUNICATIONS CORP	BZ6TS23	241.95	252	60,971.40
0.05	PPG	PPG INDUSTRIES INC	2698470	110.22	551	60,731.22
0.05	KEYS	KEYSIGHT TECHNOLOGIES IN	BQZJ0Q9	147.29	411	60,536.19
0.05	CNP	CENTERPOINT ENERGY INC	2440637	38.88	1,549	60,225.12
0.05	MTD	METTLER-TOLEDO	2126249	1,091.13	55	60,012.15
0.05	MCHP	MICROCHIP TECHNOLOGY INC	2592174	47.78	1,250	59,725.00
0.05	FANG	DIAMONDBACK ENERGY INC	B7Y8YR3	133.08	448	59,619.84
0.05	ATO	ATMOS ENERGY CORP	2315359	161.40	369	59,556.60
0.05	FITB	FIFTH THIRD BANCORP	2336747	37.28	1,590	59,275.20
0.05	LPLA	LPL FINANCIAL HO	B75JX34	334.06	177	59,128.62
0.05	TTD	TRADE DESK INC-A	BD8FDD1	55.50	1,060	58,830.00
0.05	DD	DUPONT DE NEMOURS INC	BK0VN47	65.31	900	58,779.00
0.05	HSY	HERSHEY CO/THE	2422806	166.66	350	58,331.00
0.05	UAL	UNITED AIRLINES	B4QG225	74.86	778	58,241.08
0.05	GDDY	GODADDY INC - CLASS A	BWFRFC6	182.19	319	58,118.61
0.05	HOOD	ROBINHOOD MARKETS INC - A	BP0TQN6	48.05	1,203	57,804.15
0.05	HPQ	HP INC	BYX4D52	25.90	2,226	57,653.40
0.05	EQR	EQUITY RESIDENTIAL	2319157	70.83	813	57,584.79
0.05	CBOE	CBOE GLOBAL MARKETS INC	B5834C5	231.67	247	57,222.49
0.05	DRI	DARDEN RESTAURANTS INC	2289874	202.68	278	56,345.04
0.05	DOV	DOVER CORP	2278407	173.02	325	56,231.50
0.05	VRSN	VERISIGN INC	2142922	284.55	197	56,056.35
0.05	FE	FIRSTENERGY CORP	2100920	43.09	1,300	56,017.00
0.05	FTV	FORTIVE CORP	BYT3MK1	67.59	824	55,694.16
0.05	TYL	TYLER TECHNOLOGIES INC	2909644	549.34	101	55,483.34
0.05	EXE	EXPAND ENERGY CORP	BMZ5LZ5	108.35	502	54,391.70
0.05	CHD	CHURCH & DWIGHT CO INC	2195841	92.78	581	53,905.18
0.05	ADM	ARCHER-DANIELS-MIDLAND CO	2047317	47.50	1,129	53,627.50
0.05	CPAY	CORPAY INC	BMX5GK7	328.16	161	52,833.76
0.05	KHC	KRAFT HEINZ CO/THE	BYRY499	28.59	1,845	52,748.55
0.05	TDY	TELEDYNE TECHNOLOGIES INC	2503477	478.70	110	52,657.00
0.05	CINF	CINCINNATI FINANCIAL CORP	2196888	143.89	365	52,519.85
0.05	STE	STERIS PLC	BFY8C75	224.30	234	52,486.20
0.05	CDW	CDW CORP/DE	BBM5MD6	165.75	316	52,377.00
0.05	WRB	WR BERKLEY CORP	2093644	72.49	714	51,757.86
0.05	ZS	ZSCALER INC	BZ00V34	232.98	222	51,721.56
0.04	ES	EVERSOURCE ENERGY	BVVN4Q8	59.29	870	51,582.30
0.04	HBAN	HUNTINGTON BANCSHARES INC	2445966	15.02	3,434	51,578.68
0.04	CMS	CMS ENERGY CORP	2219224	73.04	706	51,566.24
0.04	HPE	HEWLETT PACKA	BYVYWS0	16.67	3,074	51,243.58
0.04	K	KELLANOVA	2486813	82.61	619	51,135.59
0.04	EIX	EDISON INTERNATIONAL	2829515	54.93	920	50,535.60
0.04	SYF	SYNCHRONY FINANCIAL	BP96PS6	54.50	923	50,303.50
0.04	VLTO	VERALTO CORP	BPGMZQ5	95.69	524	50,141.56
0.04	PHM	PULTEGROUP INC	2708841	103.67	482	49,968.94
0.04	NVR	NVR INC	2637785	7,076.41	7	49,534.87
0.04	LH	LABCORP HOLDINGS INC	BSBK800	246.82	198	48,870.36
0.04	WAT	WATERS CORP	2937689	348.38	140	48,773.20
0.04	ZM	ZOOM COMMUNICATIONS INC	BGSP7M9	78.23	621	48,580.83
0.04	DOW	DOW INC	BHXCF84	28.95	1,662	48,114.90
0.04	EXPE	EXPEDIA GROUP INC	B748CK2	165.62	290	48,029.80
0.04	IFF	INTL FLAVORS & FRAGRANCES	2464165	79.15	606	47,964.90
0.04	SW	SMURFIT WESTROCK PLC	BRK49M5	39.62	1,210	47,940.20
0.04	CCL	CARNIVAL CORP	2523044	19.56	2,447	47,863.32
0.04	DG	DOLLAR GENERAL CORP	B5B1S13	92.21	519	47,856.99
0.04	INVH	INVITATION HOMES INC	BD81GW9	34.99	1,359	47,551.41
0.04	GPN	GLOBAL PAYMENTS INC	2712013	79.25	600	47,550.00
0.04	DVN	DEVON ENERGY CORP	2480677	30.62	1,549	47,430.38
0.04	TROW	T ROWE PRICE GROUP INC	2702337	91.43	518	47,360.74
0.04	LYV	LIVE NATION ENTE	B0T7YX2	136.12	347	47,233.64
0.04	NTRA	NATERA INC	BYQRG48	157.38	300	47,214.00
0.04	EME	EMCOR GROUP INC	2474164	435.99	108	47,086.92
0.04	DGX	QUEST DIAGNOSTICS INC	2702791	177.57	263	46,700.91
0.04	LDOS	LEIDOS HOLDINGS INC	BDV82B8	147.94	315	46,601.10
0.04	MAA	MID-AMERICA APAR	2589132	165.34	276	45,633.84
0.04	NTRS	NORTHERN TRUST CORP	2648668	97.17	469	45,572.73
0.04	PTC	PTC INC	B95N910	161.33	282	45,495.06
0.04	RF	REGIONS FINANCIAL CORP	B01R311	21.11	2,153	45,449.83
0.04	STLD	STEEL DYNAMICS INC	2849472	133.12	339	45,127.68
0.04	MKC	MCCORMICK-N/V	2550161	75.30	598	45,029.40
0.04	HUBB	HUBBELL INC	BDFG6S3	353.51	127	44,895.77
0.04	NTAP	NETAPP INC	2630643	93.09	481	44,776.29
0.04	OKTA	OKTA INC	BDFZSP1	115.71	386	44,664.06
0.04	WBD	WARNER BROS DISCOVERY INC	BM8JYX3	8.37	5,335	44,653.95
0.04	WSM	WILLIAMS-SONOMA INC	2967589	158.39	281	44,507.59
0.04	WY	WEYERHAEUSER CO	2958936	25.83	1,721	44,453.43
0.04	FCNCA	FIRST CITIZENS-A	2355582	1,843.29	24	44,238.96
0.04	IBKR	INTERACTIVE BROK	B1WT4X2	179.54	245	43,987.30
0.04	STX	SEAGATE TECHNOLO	BKVD2N4	93.58	467	43,701.86
0.04	CTRA	COTERRA ENERGY INC	2162340	25.27	1,723	43,540.21
0.04	ESS	ESSEX PROPERTY TRUST INC	2316619	288.31	151	43,534.81
0.04	MOH	MOLINA HEALTHCARE INC	2212706	319.63	134	42,830.42
0.04	ZBH	ZIMMER BIOMET HO	2783815	90.48	472	42,706.56
0.04	ULTA	ULTA BEAUTY INC	B28TS42	394.29	108	42,583.32
0.04	LUV	SOUTHWEST AIRLINES CO	2831543	30.08	1,415	42,563.20
0.04	DECK	DECKERS OUTDOOR CORP	2267278	118.33	358	42,362.14
0.04	LII	LENNOX INTERNATIONAL INC	2442053	564.07	75	42,305.25
0.04	BIIB	BIOGEN INC	2455965	121.80	343	41,777.40
0.04	PFG	PRINCIPAL FINANCIAL GROUP	2803014	76.56	541	41,418.96
0.04	HAL	HALLIBURTON CO	2405302	19.86	2,077	41,249.22
0.04	CSL	CARLISLE COS INC	2176318	385.05	107	41,200.35
0.04	CFG	CITIZENS FINANCIAL GROUP	BQRX1X3	39.13	1,039	40,656.07
0.04	CLX	CLOROX COMPANY	2204026	138.39	293	40,548.27
0.04	ROL	ROLLINS INC	2747305	56.98	703	40,056.94
0.04	DLTR	DOLLAR TREE INC	2272476	83.95	477	40,044.15
0.03	SSNC	SS&C TECHNOLOGIE	B58YSC6	78.10	512	39,987.20
0.03	TW	TRADEWEB MARKE-A	BJXMVK2	144.31	275	39,685.25
0.03	WSO	WATSCO INC	2943039	478.90	82	39,269.80
0.03	TRU	TRANSUNION	BYMWL86	84.61	461	39,005.21
0.03	SUI	SUN COMMUNITIES INC	2860257	130.40	299	38,989.60
0.03	FDS	FACTSET RESEARCH	2329770	433.09	90	38,978.10
0.03	JBL	JABIL INC	2471789	150.22	259	38,906.98
0.03	ON	ON SEMICONDUCTOR	2583576	38.41	1,006	38,640.46
0.03	PINS	PINTEREST INC- CLASS A	BJ2Z0H2	27.48	1,400	38,472.00
0.03	COO	COOPER COS INC/THE	BQPDXR3	81.57	470	38,337.90
0.03	GPC	GENUINE PARTS CO	2367480	118.70	322	38,221.40
0.03	SMCI	SUPER MICRO COMPUTER INC	BRC3N73	32.17	1,185	38,121.45
0.03	PKG	PACKAGING CORP OF AMERICA	2504566	181.22	210	38,056.20
0.03	DKNG	DRAFTKINGS INC-CL A	BLDDH12	34.13	1,111	37,918.43
0.03	HEI/A	HEICO CORP-CLASS A	2237561	211.43	179	37,845.97
0.03	TSN	TYSON FOODS INC-CL A	2909730	56.08	667	37,405.36
0.03	EVRG	EVERGY INC	BFMXGR0	69.46	537	37,300.02
0.03	LNT	ALLIANT ENERGY CORP	2973821	61.50	606	37,267.49
0.03	RS	RELIANCE INC	2729068	294.97	126	37,166.22
0.03	TRMB	TRIMBLE INC	2903958	64.09	576	36,915.84
0.03	L	LOEWS CORP	2523022	86.56	426	36,874.56
0.03	J	JACOBS SOLUTIONS INC	BNGC0D3	126.63	291	36,849.33
0.03	EXPD	EXPEDITORS INTL WASH INC	2325507	111.77	329	36,772.33
0.03	BAX	BAXTER INTERNATIONAL INC	2085102	30.43	1,205	36,668.15
0.03	WDC	WESTERN DIGITAL CORP	2954699	45.03	811	36,519.33
0.03	BALL	BALL CORP	2073022	51.85	701	36,346.85
0.03	WST	WEST PHARMACEUT	2950482	211.19	171	36,113.49
0.03	BAH	BOOZ ALLEN HAMIL	B5367T7	119.17	297	35,393.49
0.03	OMC	OMNICOM GROUP	2279303	77.06	457	35,216.42
0.03	PSTG	PURE STORAGE-A	BYZ62T3	47.58	728	34,638.24
0.03	TOST	TOAST INC-CLASS A	BP6D7B7	35.84	965	34,585.60
0.03	LYB	LYONDELLBASELL INDU-CL A	B3SPXZ3	56.21	602	33,838.42
0.03	CF	CF INDUSTRIES HO	B0G4K50	80.92	410	33,177.20
0.03	IEX	IDEX CORP	2456612	181.73	179	32,529.67
0.03	APTV	APTIV PLC	BTDN8H1	58.78	553	32,505.34
0.03	AVY	AVERY DENNISON CORP	2066408	170.93	189	32,305.77
0.03	AMCR	AMCOR PLC	BJ1F307	9.31	3,406	31,709.86
0.03	LVS	LAS VEGAS SANDS CORP	B02T2J7	38.31	811	31,069.41
0.03	FSLR	FIRST SOLAR INC	B1HMF22	127.16	240	30,518.40
0.03	BBY	BEST BUY CO INC	2094670	67.66	450	30,447.00
0.03	ZBRA	ZEBRA TECH CORP	2989356	250.70	121	30,334.70
0.03	BLDR	BUILDERS FIRSTSOURCE INC	B0BV2M7	111.86	267	29,866.62
0.03	ENTG	ENTEGRIS INC	2599700	83.99	355	29,816.45
0.03	MDB	MONGODB INC	BF2FJ99	172.96	170	29,403.20
0.03	EL	ESTEE LAUDER	2320524	57.70	509	29,369.30
0.03	ALGN	ALIGN TECHNOLOGY INC	2679204	177.61	165	29,305.65
0.03	ILMN	ILLUMINA INC	2613990	78.17	374	29,235.58
0.03	RPRX	ROYALTY PHARMA PLC- CL A	BMVP7Y0	33.00	878	28,974.00
0.03	TER	TERADYNE INC	2884183	75.44	384	28,968.96
0.03	DOC	HEALTHPEAK PROPERTIES INC	BJBLRK3	17.58	1,645	28,919.10
0.03	AKAM	AKAMAI TECHNOLOGIES INC	2507457	83.10	348	28,918.80
0.02	HOLX	HOLOGIC INC	2433530	52.73	532	28,052.36
0.02	TKO	TKO GROUP HOLDINGS INC	BQBBFD1	166.83	168	28,027.44
0.02	RDDT	REDDIT INC-CL A	BMVNLY2	116.33	237	27,570.21
0.02	BMRN	BIOMARIN PHARMAC	2437071	62.06	444	27,554.64
0.02	ARE	ALEXANDRIA REAL	2009210	73.54	371	27,283.34
0.02	EG	EVEREST GROUP LTD	2556868	347.36	77	26,746.72
0.02	RVTY	REVVITY INC	2305844	92.83	286	26,549.38
0.02	CAG	CONAGRA BRANDS INC	2215460	23.51	1,120	26,331.20
0.02	HEI	HEICO CORP	2419217	264.47	97	25,653.59
0.02	BG	BUNGE GLOBAL SA	BQ6BPG9	77.82	327	25,447.14
0.02	FOXA	FOX CORP - CLASS A	BJJMGL2	49.26	516	25,418.16
0.02	JBHT	HUNT (JB) TRANS	2445416	133.61	188	25,118.68
0.02	IOT	SAMSARA INC-CL A	BPK3058	41.36	603	24,940.08
0.02	SWKS	SKYWORKS SOLUTIONS INC	2961053	66.13	375	24,798.75
0.02	OWL	BLUE OWL CAPITAL INC	BN7CQS9	18.46	1,326	24,477.96
0.02	BF/B	BROWN-FORMAN CORP-CLASS B	2146838	34.40	702	24,148.80
0.02	VTRS	VIATRIS INC	BMWS3X9	8.59	2,799	24,043.41
0.02	INCY	INCYTE CORP	2471950	62.11	380	23,601.80
0.02	DOX	AMDOCS LTD	2256908	89.67	260	23,314.20
0.02	BXP	BXP INC	2019479	64.74	341	22,076.34
0.02	MRNA	MODERNA INC	BGSXTS3	27.84	785	21,854.40
0.02	SWK	STANLEY BLACK &	B3Q2FJ4	60.08	358	21,508.64
0.02	ERIE	ERIE INDEMNITY-A	2311711	360.98	59	21,297.82
0.02	SNAP	SNAP INC - A	BD8DJ71	8.55	2,476	21,169.80
0.02	HRL	HORMEL FOODS CORP	2437264	29.21	681	19,892.01
0.02	AVTR	AVANTOR INC	BJLT387	12.63	1,538	19,424.94
0.02	SCCO	SOUTHERN COPPER CORP	2823777	89.24	208	18,566.09
0.02	ALAB	ASTERA LABS INC	BMTQ7V2	72.15	257	18,542.55
0.01	BSY	BENTLEY SYSTEM-B	BMC1PR6	43.85	376	16,487.60
0.01	FOX	FOX CORP - CLASS B	BJJMGY5	45.82	300	13,746.00
0.01	TPG	TPG INC	BNKBB55	47.15	203	9,571.45
0.01	WMG	WARNER MUSIC-A	BLGJ610	30.28	303	9,174.84
0.01	SNDK	SANDISK CORP	BSNPZV3	34.61	260	8,998.60
0.01	MRP	MILLROSE PROPERTIES	BRCFZ51	25.84	272	7,028.48
0.01	GFS	GLOBALFOUNDRIES INC	BMW7F63	35.88	172	6,171.36
0.01	WLK	Westlake Corporation	B01ZP20	78.22	74	5,788.28
0.00	BF/A	BROWN-FORMAN CORP-CLASS A	2146816	34.27	104	3,564.08
0.00	RKT	ROCKET COS INC-CLASS A	BMD6Y84	11.92	289	3,444.88
0.00	UI	UBIQUITI INC	BK9Z6V8	343.51	9	3,091.59
0.00	LEN/B	LENNAR CORP - B SHS	2578293	103.10	13	1,340.30
-0.04		OTHER PAYABLE & RECEIVABLES		1.00	-43,261	-43,261.26

Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Documents

Latest Premium / Discount As of 05/05/25

NAV	$31.26
Market Price	$31.26
Premium / (Discount)	$0.00

Current View 2025 Q2 As of 05/05/25

Days at Premium	10
Days at NAV	0
Days at Discount	14
Greatest Premium	0.27%
Greatest Discount	-0.23%

Daily Premium / Discount History As of 05/05/25

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How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

As of 3/31, ONOF was rated against the following numbers of Tactical Allocation funds over the following time periods: 237 during the last 3 years. With respect to these Tactical Allocation funds, ONOF received a Morningstar Rating of 5 stars. Past performance is not indicative of future results.

© 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Investing involves risk, including the possible loss of principal. There is no guarantee that the Fund will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the Fund’s ability to adjust its exposure to the required levels in order to track the Underlying Index.

The Fund is based on the “modern portfolio theory” approach to asset allocation, which is a framework for determining the allocation of a portfolio with the goal of achieving an intended investment outcome based on a given level of risk. This framework relies heavily on the anticipated volatilities, investment returns and correlations of particular asset classes or securities. There is no guarantee that the Underlying Index will outperform any alternative strategy that might be employed in respect of the component assets or that past volatilities and correlations of particular asset classes or securities will be indicative of future results.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. 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 or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Adaptive Wealth Strategies® (AWS), nor does AWS make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with AWS.