2023-04-14 09:29:03 ET
Global X bolstered its thematic exchange traded fund lineup as the issuer created a fund in which investors can access the real estate technology market.
Global X unveiled the Global X PropTech ETF ( NASDAQ: PTEC ) which aims to deliver exposure to companies that are positioned to benefit from technology that optimizes the way people buy, sell, rent, design, construct, manage, and research/market residential and commercial properties.
According to the ETF issuer, forecasts propose that the worldwide property technology market could increase to $94B by 2030, which would be a 3X increase from 2022.
The issuer stated: “We believe the convergence of new technologies and emerging demographic trends make the sector ripe for disruption.”
Moreover, the newly launched ETF has a total expense ratio of 0.50%, and has 36 holdings to its name. PTEC’s top four holdings cumulatively represent 30.25% of the fund and are led by KE Holdings ( NYSE: BEKE ) at 7.96%. Following BEKE is CoStar Group, Inc. ( NASDAQ: CSGP ), Black Knight ( BKI ), and Airbnb ( NASDAQ: ABNB ) at 7.59%, 7.42%, and 7.28%, respectively.
From an exposure standpoint PTEC also offers global exposure to eight different nations. While the U.S. represents 63.26% of the fund, it also delivers access to companies based in Denmark, China, Australia, Great Britain, Switzerland, Sweden, and Singapore.
In other exchange traded fund news, financial participants injected cash to the fund space for the seventh consecutive week.
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Global X unveils a real estate tech focused ETF