How Does Global X Ultra Long Nasdaq 100 Complex ETF (ASX:LNAS) Use Futures to Gear Nasdaq 100 Exposure?

Sonal Goyal

28 October 2026 12:53 AM AEDT

How Does Global X Ultra Long Nasdaq 100 Complex ETF (ASX:LNAS) Use Futures to Gear Nasdaq 100 Exposure?

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Key Highlights

Global X Ultra Long Nasdaq 100 Complex ETF (ASX:LNAS) invests primarily in long futures contracts to achieve geared exposure to the Nasdaq 100 Index within a target range.
The portfolio holds E-mini Nasdaq 100 Future Dec 26 at 228.41%, offset by negative cash of 128.41%.
Fund size is $74.03 million and the management fee is 1.00%.

Global X Ultra Long Nasdaq 100 Complex ETF (ASX:LNAS) is a complex exchange traded fund that attempts to meet its objective primarily by investing in a portfolio of long futures contracts to achieve geared exposure to the Nasdaq 100 Index within a target range. Admitted to the ASX on 13 July 2020, the fund has a fund size of $74.03 million and a management fee of 1.00%. This article explains the structure and portfolio.

Exposure and Investment Approach

The fund may also hold securities, cash and cash equivalents from time to time. The Nasdaq 100 exposure is created through E-mini Nasdaq 100 futures rather than by holding the underlying shares directly, and the portfolio shows stocks at 228.41% offset by cash at negative 128.41%.

Portfolio Composition

The portfolio is held through a single investment, E-mini Nasdaq 100 Future Dec 26 (--), which represents 228.41% of the fund.

By sector, the portfolio is allocated as follows: Technology 60.23%, Communication Services 12.57%, Consumer Cyclical 10.05%, Consumer Defensive 5.55%, Industrials 5.26%, Healthcare 3.78%, Utilities 1.01%, Basic Materials 0.92%.

In terms of asset allocation, stocks represent 228.41% of the portfolio, offset by negative cash of 128.41%. By size, 100% of the portfolio is in companies above $1 billion in market capitalisation. Geographic exposure is United States (97.44%), Canada (0.91%), the Netherlands (0.88%), Brazil (0.37%), China (0.22%) and the United Kingdom (0.18%).

Key Features to Understand

Because the fund is geared, its exposure is larger than its capital and moves by more than the index in either direction. The look-through sector mix mirrors the Nasdaq 100, with technology at 60.23%, and all of the portfolio is in companies above $1 billion in market capitalisation. The fund is benchmarked to the NASDAQ 100 TR USD index.

Distribution Details

The fund's most recent recorded distribution was a final distribution of $4.891 per unit, with an ex-date of 2 July 2026, a record date of 3 July 2026 and payment on 16 July 2026.

Fund Details at a Glance

Fund name: Global X Ultra Long Nasdaq 100 Complex ETF (ASX:LNAS)
Issuer: Global X
Category: Equity North America
Benchmark: NASDAQ 100 TR USD
Admitted to the ASX: 13 July 2020
Fund size: $74.03 million
Management fee: 1.00%
ISIN: AU0000087728

Recent Announcements

Recent announcements include the appointment of Citigroup Pty Limited as fund service provider on 15 October 2026, an annual financial report on 28 September 2026 and annual statements on 16 September 2026.

Closing Perspective

Global X Ultra Long Nasdaq 100 Complex ETF provides geared Nasdaq 100 exposure through long futures, with a 1.00% management fee. Its most recent distribution was a final distribution of $4.891 per unit, paid on 16 July 2026.

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