Key Highlights

  • LNAS (ASX:LNAS) aims to deliver geared long exposure to the NASDAQ 100 through long futures contracts.
  • The main position is an E-mini Nasdaq 100 futures contract, shown at about 228% of the fund.
  • Technology makes up 60.23% of the underlying sector mix, followed by communication services at 12.57%.
  • Management fees and costs are 1.00%.

Global X Ultra Long Nasdaq 100 Complex ETF (ASX:LNAS) traded at $11.05 during the trading session on 30 October 2026, down 6.27%, with 153,865 units changing hands. LNAS is designed to amplify the daily moves of the Nasdaq 100. It holds no shares of the index's companies directly, and its exposure runs entirely through futures, which magnifies both gains and losses in the index's biggest names.

Stock Exposure and Positions

The fund's exposure is driven by an E-mini Nasdaq 100 futures contract for December 2026 delivery, shown at 228.41% of the portfolio. Cash and cash equivalents offset that position, with a negative cash weight of minus 128.41% reflecting the borrowing built into the futures exposure.

Because the stock exposure is derivative-based, the underlying holdings are the Nasdaq 100's own constituents, weighted as the index is. The five positions listed for the fund are the futures contract, cash and related balances.

Sector and Country Mix

The sector mix mirrors the Nasdaq 100: technology 60.23%, communication services 12.57%, consumer cyclical 10.05%, consumer defensive 5.55% and industrials 5.26%. Healthcare is 3.78%, utilities 1.01% and energy 0.44%.

Geographically, the United States accounts for 97.44%, with Canada at 0.91%, the Netherlands at 0.88%, Brazil at 0.37% and China at 0.22%.

How the Portfolio Is Built

LNAS uses long futures to create geared exposure to the index within a target range. The futures position is rolled forward as contracts approach expiry, and the cash balance is used to meet margin requirements.

Because the exposure is geared, a given move in the Nasdaq 100 produces a larger move in the fund. The structure is designed for short-term positioning rather than long-term buy-and-hold ownership of the stocks.

Session Trading

LNAS's day range was $11.04 to $11.50 against a previous close of $11.79, with average daily volume of about 206,735 units and 153,865 units traded in the session.

Key Facts

The fund was admitted to the ASX on 13 July 2020 and is benchmarked to the NASDAQ 100 TR USD index. Its ISIN is AU0000087728, and management fees and costs are 1.00% a year. Fund size is $77.17 million, with 6,545,577 units on issue.

What the Exposure Means

LNAS gives geared long exposure to the Nasdaq 100's largest technology and communication names through futures. Its stock exposure is the index's own, but the multiple attached to that exposure is what distinguishes the fund from an unlevered Nasdaq holding.