Share-split context: A reverse split was recorded on May 16, 2013 with coefficient 0.5. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

What this ETF is trying to do

The GLOBAL X MSCI ARGENTINA ETF (ARGT) is an exchange-traded fund designed to provide exposure to companies in Argentina. It tracks a specific index of stocks related to the Argentine market. This ETF holds a variety of companies, including those in sectors like energy, finance, and technology.

Top Holdings

Based on the most recent data, the fund's largest holdings include:

• MERCADOLIBRE INC (25.38%)

• YPF SA ADR (9.51%)

• VISTA ENERGY SAB DE CV ADR (6.25%)

• GRUPO FINANCIERO GALICIA SA ADR (5.62%)

• BANCO MACRO SA ADR (4.32%)

• PAMPA ENERGIA SA ADR (4.17%)

• FORTUNA MINING CORP (4.07%)

• SSR MINING INC (3.92%)

• TGS (3.66%)

• CENTRAL PUERTO SA ADR REP 10 SHS (3.19%)

Please note that this is a partial list of the fund's holdings, and these weights can change over time.

What the numbers show

The performance of ARGT can be looked at in two ways: price return and total return. Price return only tracks how the share price moves, while total return includes the impact of distributions.

• Year-to-Date (YTD): The YTD price return is approximately -3.93%, and the YTD total return is approximately -3.58%.

• One-Year: The one-year price return was approximately 28.41%, while the one-year total return was approximately 29.86%.

• Three-Year: The three-year price return was approximately 117.21%, and the three-year total return was approximately 125.47%.

• Five-Year: The five-year total return was approximately 189.64%.

Because this ETF has a history of reverse splits, we use split-adjusted returns to show how the value has changed over time. A reverse split occurs when multiple old shares are combined into fewer new shares, which causes the per-share price to rise mechanically.

Income and distribution explanation

ARGT provides cash distributions to investors, though the frequency is described as "irregular" or "less frequent." Over the last 12 months, there were 2 payouts. The distribution yield is approximately 1.17%. It is important to remember that a distribution yield tells you how much cash was paid out relative to the price, but it is not the same as your total return.

NAV erosion explanation

Some investors look for "NAV erosion," which refers to a decline in the Net Asset Value (the actual value of the fund's underlying assets). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, regarding price erosion (the decline in the market price of the shares), the fund has an erosion score of 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• The fund has shown strong historical total returns over one, three, and five-year periods.

• It has a high income rating grade of "A."

Cons

• The distribution frequency is irregular rather than a steady monthly or quarterly schedule.

• Recent year-to-date performance shows a decline in both price and total return.

Beginner takeaway

ARGT offers a way to invest in Argentine companies, with significant exposure to large holdings like MercadoLibre. While the fund has seen strong growth over several years, recent year-to-date data shows a slight decline. Investors interested in income should note that while the fund pays distributions, they occur irregularly.