ETF Evaluator: Global X Dorsey Wright Thematic ETF (GXDW) Follow This ETF

Global X Dorsey Wright Thematic ETF Overview

Global X Dorsey Wright Thematic ETF (GXDW) is a passively managed International Equity Global Small/Mid Stock exchange-traded fund (ETF). Global X Funds launched the ETF in 2019.

The investment seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Nasdaq Dorsey Wright Thematic Rotation Index. The fund invests at least 80% of its total assets in the securities of the underlying index. The underlying index seeks to provide broad exposure to thematic strategies using a portfolio of ETFs issued by Global X Funds® that target a specific theme or that has a significant overweight toward a particular theme (each, an “Underlying ETF”), as determined by the index orovider. It is non-diversified.

About Global X Dorsey Wright Thematic ETF (GXDW)

There are 2 members of the management team with an average tenure of 6.77 years: Nam To (2019) and Wayne Xie (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Nasdaq Dorsey Wright Them Rotatn TR USD index with a weighting of 100%. Global X Dorsey Wright Thematic ETF has 6 securities in its portfolio. The top 10 holdings constitute 100.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Global X Dorsey Wright Thematic ETF is part of the Equity global asset class and is within the International Equity ETF group. Global X Dorsey Wright Thematic ETF has 43.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 56.7% There is 43.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Global X Dorsey Wright Thematic ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $6 million in total assets, which is below the $286 million average for the Global Small/Mid Stock category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

GXDW Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Global X Dorsey Wright Thematic ETF expense ratio is average compared to funds in the Global Small/Mid Stock category. Global X Dorsey Wright Thematic ETF has an expense ratio of 0.50%, which is 27% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Global X Dorsey Wright Thematic ETF has a portfolio turnover rate of 19%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 94% for the Global Small/Mid Stock category.

Recently, in the month of July 2026, Global X Dorsey Wright Thematic ETF returned -13.4%, which earned it a grade of F, as the Global Small/Mid Stock category had an average return of -3.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Global X Dorsey Wright Thematic ETF has a trailing yield of 1.55%, which is below the 1.65% category average. The fund normally distributes its income semi-annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Global X Dorsey Wright Thematic ETF Grades

Year to date, the ETF has returned -3.3%, 15.8 percentage points worse than the category, which translates into a grade of F. The fund has returned -9.8% over the past year (grade of F), -5.9% over the past three years (grade of F) and -13.2% per year over the past five years (grade of F).

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