Key Highlights

  1. GARP traded at $12.74, up 0.23% on the latest supplied session, with a fund size of $127.99 million.
  2. Financial Services represented 23.59% of the portfolio, followed by Technology at 22.38% and Communication Services at 16.10%.
  3. The United States accounted for 66.18% of geographic exposure, with Japan at 7.07% and the Netherlands at 4.27%.
  4. The ETF held 251 companies, with its top 10 holdings accounting for 38.18% of the portfolio.

Global X S&P World Ex Australia GARP ETF (ASX:GARP) traded at $12.74 in the latest supplied ASX data, gaining $0.02 or 0.23% from the previous close. The ETF is designed to track the S&P World Ex-Australia GARP index , providing exposure to large global companies selected according to a growth-at-a-reasonable-price methodology while excluding Australian equities.

GARP Strategy Shapes Portfolio Construction

GARP is classified within the Equity World Large Blend category and had 251 companies in its portfolio. The strategy provides exposure to global companies outside Australia, with the underlying index combining growth characteristics with consideration of relative pricing.

The fund's asset allocation was almost entirely invested in equities, with stocks representing 99.64% of the portfolio and Cash Accounting for 0.36%. The market-capitalisation profile was similarly concentrated in large companies, with businesses valued above $1 billion representing 99.58% of the portfolio.

Companies in the $500 million-to-$1 billion range represented 0.28%, while companies below $500 million accounted for 0.13%.

Financial Services and Technology Lead Sector Exposure

Financial Services was the largest sector allocation at 23.59%, substantially above the 16.71% weighting for the broader Equity World Large Blend category. Technology represented 22.38%, below the category's 29.61% weighting.

Communication Services was another notable allocation at 16.10%, compared with 8.64% for the category. Industrials accounted for 14.30%, while Healthcare contributed 12.28%.

Consumer Cyclical stocks represented 5.68%, followed by Basic Materials at 3.09%, Consumer Defensive at 1.36%, Real Estate at 0.83% and Energy at 0.31%.

The sector structure therefore differs materially from a conventional global large-blend portfolio, particularly through its larger allocations to Financial Services and Communication Services and its lower exposure to Energy and Consumer Defensive companies.

US Exposure Remains Dominant

The United States represented 66.18% of GARP's geographic exposure. Japan was the second-largest market at 7.07%, followed by the Netherlands at 4.27% and Canada at 3.55%.

Switzerland represented 2.74%, while the United Kingdom accounted for 2.84%. Israel contributed 1.66%, France 1.53%, Germany 1.53% and Italy 1.52%.

Although the ETF is designed to provide international exposure outside Australia, the US remains the principal geographic component. The presence of Japan and several European markets provides additional regional representation across developed economies.

Portfolio Includes Major Global Companies

The largest individual position was Eli Lilly at 5.21%. Alphabet represented 4.78%, followed by Meta Platforms at 4.74%, NVIDIA at 4.68% and Microsoft at 4.46%.

Berkshire Hathaway accounted for 4.30%, while ASML Holding contributed 3.24%. GE Aerospace represented 2.86%, Johnson & Johnson 1.99% and Visa 1.87%.

The top 10 holdings collectively accounted for 38.18% of the fund, leaving 61.82% distributed across the remaining 241 companies. This structure provides a balance between meaningful exposure to the largest positions and a wider pool of global holdings.

Fund Size, Liquidity and Risk Metrics

GARP had a reported fund size of $127.99 million and 10,070,029 units outstanding. The latest Trading session recorded 30,641 units, compared with an average Volume of 36,130.

The bid and offer range was $12.50 to $12.98, while the reported 52-week trading range was $11.65 to $13.74.

The management fee was 0.30%. The supplied risk data reported a Beta of 0.79 and Standard Deviation of 7.80.

Recent Returns and Distribution Profile

The supplied total-return figures showed a gain of 2.60% over one month and 9.89% over three months. The six-month return was 0.93%, while the one-year return was 7.51%.

The fund's reported final distribution was $0.707 per unit, with an ex-date of 2 July 2026, Record Date of 3 July and payment date of 16 July. The supplied annual Yield was 5.88%.

Earlier distributions included $0.040 in January 2026 and $0.131 in July 2025. Distribution amounts can vary between periods depending on the income and other distributable components generated by the portfolio.

Conclusion

Global X S&P World Ex Australia GARP ETF combines large-cap international equity exposure with a growth-at-a-reasonable-price approach. Its $127.99 million fund size supports exposure across 251 companies, while the portfolio is overwhelmingly concentrated in large-cap businesses. Financial Services, Technology and Communication Services form the three largest sector allocations, while the United States remains the dominant geographic market at 66.18%. The fund's top 10 holdings account for 38.18%, leaving the majority of Assets spread across a broader collection of international companies. Its 0.30% management fee, 0.79 beta and 7.80 standard deviation provide additional context for the fund's structure and reported risk profile.