BRAZ vs. IPO ETF Comparison

Comparison of Global X Brazil Active ETF (BRAZ) to Renaissance IPO ETF (IPO)

BRAZ

Global X Brazil Active ETF

BRAZ Description

The fund is an actively managed exchange traded fund ("ETF") advised by Global X Management Company LLC (the "Adviser") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, measured at the time of purchase, in equity securities: (i) of issuers domiciled in Brazil; and/or (ii) that are tied economically to Brazil. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$22.78

Average Daily Volume

291

Number of Holdings ^*

* may have additional holdings in another (foreign) market

IPO

Renaissance IPO ETF

IPO Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Renaissance IPO Index (the "index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index, the Renaissance IPO Index. The remaining 20% may be used to purchase securities not in the index that are an appropriate substitute for certain securities in the index in order to track the index. The index is comprised of common stocks, American Depositary Receipts ("ADRs"), real estate investment trusts ("REITS") and master limited partnerships ("MLPs"). The fund is non-diversified.

Grade (RS Rating)

Last Trade

$44.57

Average Daily Volume

25,849

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	BRAZ	IPO
30 Days	-9.15%	6.25%
60 Days	-9.65%	6.73%
90 Days	-1.77%	20.39%
12 Months	-5.41%	44.86%

1 Overlapping Holdings

	Symbol	Grade	Weight in BRAZ	Weight in IPO	Overlap
	NU	C	11.19%	9.54%	9.54%

BRAZ Overweight 11 Positions Relative to IPO

Symbol	Grade	Weight
PBR	F	9.44%
ITUB	F	8.34%
VALE	F	7.34%
BBD	F	5.22%
EBR	F	3.49%
ASAI	F	3.38%
SUZ	C	2.71%
ARCO	D	2.06%
ELP	F	1.95%
ABEV	F	1.89%
MELI	A	1.1%

BRAZ Underweight 16 Positions Relative to IPO

Symbol	Grade	Weight
ARM	B	-10.42%
KVUE	B	-9.11%
RIVN	F	-5.76%
CRBG	B	-5.61%
GTLB	A	-4.46%
TPG	B	-3.78%
HCP	A	-3.3%
GFS	F	-2.75%
RBRK	A	-1.52%
BRZE	F	-1.37%
BIRK	F	-1.37%
RDDT	A	-1.34%
INFA	C	-1.21%
FLNC	B	-0.89%
BLCO	A	-0.58%
ZK	A	-0.31%