ETF Evaluator: Global X S&P 500® Tail Risk ETF () Follow This ETF

Global X S&P 500® Tail Risk ETF Overview

Global X S&P 500® Tail Risk ETF (XTR) is a passively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). Global X Funds launched the ETF in 2021.

The investment seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 Tail Risk Index ("underlying index"). The fund invests at least 80% of its total assets in the securities of the underlying index. The underlying index measures the performance of a risk management strategy that holds the underlying stocks of the S&P 500® Index and applies a protective put strategy (i.e. long (purchased) put options) on the S&P 500® Index. The adviser expects that the correlation between the fund's performance and that of the underlying index, before fees and expenses, will exceed 95%.

About Global X S&P 500® Tail Risk ETF (XTR)

There are 2 members of the management team with an average tenure of 4.93 years: Wayne Xie (2021) and Vanessa Yang (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Cboe S&P 500 Tail Risk USD index with a weighting of 100%. Global X S&P 500® Tail Risk ETF has 505 securities in its portfolio. The top 10 holdings constitute 37.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Global X S&P 500® Tail Risk ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Global X S&P 500® Tail Risk ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.4% There is 0.5% 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 S&P 500® Tail Risk ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $4 million in total assets, which is below the $294 million average for the Equity Hedged 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.

XTR 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 S&P 500® Tail Risk ETF expense ratio is below average compared to funds in the Equity Hedged category. Global X S&P 500® Tail Risk ETF has an expense ratio of 0.25%, which is 67% 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 S&P 500® Tail Risk ETF has a portfolio turnover rate of 3%, which indicates that it holds its assets around / 0.3 years. By way of comparison, the average portfolio turnover is 97% for the Equity Hedged category.

Recently, in the month of July 2026, Global X S&P 500® Tail Risk ETF returned -0.4%, which earned it a grade of C, as the Equity Hedged category had an average return of -1.4%. 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 S&P 500® Tail Risk ETF has a trailing yield of 0.75%, which is below the 3.45% 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 S&P 500® Tail Risk ETF Grades

Year to date, the ETF has returned 7.3%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 15.1% over the past year (grade of B) and 15.6% over the past three years (grade of B).

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