TFIV — Global X TargetIncome 5 ETF

Data updated: 2021-10-28

TFIV — Global X TargetIncome 5 ETF. Emerging Markets Real Estate · $6.54M AUM · 0.75% expense ratio. Holdings, fees, performance and SEC filings.

TFIV Fund Overview

TFIV — Global X TargetIncome 5 ETF is a US ETF managed by Global X Funds, categorised as Emerging Markets Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US ETF
Manager: Global X Funds
Category: Emerging Markets Real Estate
Assets under management: $6.54M
1-year return: 12.5%
Ticker: TFIV
SEC CIK: 0001432353
SEC series ID: S000062090
Share class ID: C000201043

TFIV Investment Objective and Strategy

Global X TargetIncome 5 ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Global X Funds.

Investment objective

The Global X TargetIncome TM 5 ETF (Fund) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Wilshire TargetIncome TM 5% Plus Index (Underlying Index).

Principal investment strategy

"The Fund is a fund of funds and invests at least 80% of its total assets in the securities of the Underlying Index. The Funds 80% investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed. The Underlying Index seeks to provide broad exposure to income-producing asset classes using a portfolio of exchange-traded funds (each, an ""Underlying ETF""), with the goal, but not the guarantee, of providing exposure that may be sufficient to support an annualized yield of five percent (5.0%) for the Fund, net of fees. The Underlying Index targets an annualized yield that is somewhat higher than 5% (5% Plus), which is intended to provide the Fund with the ability to achieve the 5% target, net of fees. The Underlying Index allocates index weights among the Underlying ETFs based on a methodology developed by Wilshire Associates, the provider of the Underlying Index (""Index Provider""), which is designed to achieve the target income objective while also utilizing an optimization approach that seeks to minimize the overall risk of the portfolio.

The share prices of the Underlying ETFs are expected to track the performance of equities or bonds in developed or emerging markets, senior loans, preferred securities, real estate investment trusts (""REITs""), master limited partnerships (MLPs) and energy infrastructure equities, U.S. Treasury bonds, and U.S. Treasury Inflation Protected Securities (TIPS). The Underlying ETFs which invest in bonds may have exposure to investment grade and non-investment grade bonds. The Underlying Index is constructed from the eligible income-producing asset classes, each of which is represented by an Underlying ETF that provides exposure to the given asset class. On a quarterly basis, and subject to certain weighting constraints, the Underlying Index is rebalanced to allocate weights to a subset of the eligible Underlying ETFs using a quantitative optimization approach that is described in more detail below.

The Underlying Index has a target yield of 5% Plus, which is expected to be generated by the income from the allocation to the Underlying ETFs. Optimization is the quantitative process of selecting a specific portfolio allocation from the set of all potential portfolio allocations, based on a defined objective and subject to certain constraints. Given that the objective of the Underlying Index is to achieve the stated income target while seeking to minimize overall portfolio risk, the primary optimization inputs for the Underlying Index are the yield, volatility, and correlation characteristics of the Underlying ETFs. The primary optimization constraints are the maximum weights of the Underlying ETFs as described in more detail below. Based on these inputs and constraints, the optimization process quantitatively determines the allocation to the Underlying ETFs at each quarterly rebalance.

As of June 1, 2018, the Underlying ETFs eligible for inclusion in the Underlying Index are: Global X SuperDividend ETF, iShares 20+ Year Treasury Bond ETF, VanEck Vectors J.P. Morgan EM Local Currency Bond ETF, iShares Core U.S. Aggregate Bond ETF, Xtrackers USD High Yield Corporate Bond ETF, SPDR Blackstone / GSO Senior Loan ETF, Schwab U.S. TIPS ETF, Global X MLP & Energy Infrastructure ETF, Global X U.S. Preferred ETF, and Schwab U.S. REIT ETF. Each Underlying ETF has a minimum weight of 0% and a maximum weight of 20% at each quarterly rebalance. (iShares is a registered trademark of BlackRock (BlackRock, Inc. and its subsidiaries). Neither BlackRock nor the iShares Funds make any representations regarding the advisability of investing in the Fund.) The Underlying Index is sponsored by the Index Provider, which is an organization that is independent of the Fund and Global X Management Company LLC, the investment adviser for the Fund (Adviser).

The Index Provider determines the relative weightings of the Underlying ETFs of the Underlying Index based on the output from the quantitative optimization process described above. The Fund's investment objective and Underlying Index may be changed without shareholder approval. The Adviser uses a passive or indexing approach to try to achieve the Funds investment objective. Unlike many investment companies, the Fund does not try to outperform the Underlying Index and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund uses a representative sampling strategy with respect to the Underlying Index. ""Representative sampling"" is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index in terms of key risk factors, performance attributes and other characteristics.

These include country weightings, market capitalization and other financial characteristics of securities. The Fund may or may not hold all of the securities in the Underlying Index. The Adviser expects that, over time, the correlation between the Funds performance and that of the Underlying Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. The Fund concentrates its investments (i.e., holds 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. As of June 1, 2018, the Underlying Index was not concentrated in a sector."

TFIV Performance

Total returns for TFIV (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	12.5%
3 years (annualised)	5.6%

TFIV Risk Information

Risk metrics for TFIV, derived from monthly returns in SEC filings.

1-year volatility (annualised): 6.7%

TFIV Costs and Fees

TFIV costs about $75 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.75%
Gross expense ratio: 0.75%
Portfolio turnover: 58%
Brokerage commissions: 4.28 bps of average net assets (SEC N-CEN)

TFIV Cashflows

Over the 12 months to 2021-08, Global X TargetIncome 5 ETF had net inflows of $10.91M, from monthly SEC N-PORT filings.

Month	Net flow
2021-08	$1.20M
2021-07	$242.83K
2021-06	$0
2021-05	$1.19M
2021-04	$1.92M
2021-03	$487.36K

TFIV Debt Constituents

No individual debt constituents are reported in Global X TargetIncome 5 ETF's latest SEC N-PORT filing.

TFIV Prospectus and SEC Filings

Official Global X TargetIncome 5 ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Emerging Markets Real Estate funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.