Global X has launched its second core ETF, tracking high-growth technology NASDAQ companies.
The Global X US 100 ETF (N100) will track the performance of the largest 100 companies listed on the NASDAQ exchange (excluding financials and REITs) to provide investors with exposure to a core portfolio of high-growth technology stocks.
This includes companies benefitting from the trend in artificial intelligence, including NVIDIA, Google, Apple and Microsoft. Global X said it could offer important geographic diversification away from Australia.
The ETF has a management fee of 0.24 per annum.
Evan Metcalf, chief executive of Global X ETFs Australia, said: “The launch of N100 comes from Global X’s mission to provide Australian investors with quality value products at cost-efficient rates, allowing investors greater returns by reducing margin intake.
“By drawing on resources and synergies across the wider Mirae Asset Financial Group, we have been able to develop a cost-effective product that offers exposure to companies at the fore of long-term structural megatrends and provides great value for Australian investors seeking exposure to high-growth sectors,” Metcalf said.
This is the 34th listed ETF from Global X on the ASX and adds to other technology strategies from the firm including Global X Battery Tech & Lithium, Global X Semiconductor ETF and the Global X Morningstar Global Technology ETF.
Compared to its existing Global X FANG+ ETF, the firm noted N100 is a more diversified investment given it holds a portfolio of 100 US-listed companies (excluding financials and REITs) whereas the Global X FANG+ ETF is a highly concentrated and equally weighted portfolio of 10 US-listed mega cap stocks.
Global X, which is backed by Mirae Asset Financial Group, was a finalist in this year’s Money Management Fund Manager of the Year awards for its Global X Physical Gold ETF in the Passive-Other Asset Class category.
