Global X Files ETF Targeting Companies Building Their Own AI Models

The Global X LLM ETF (LLMA) seeks exposure to companies developing their own large language models (LLMs). The actively-managed fund will primarily use swap agreements and other derivatives to track the Akros LLM Index, which selects companies based on proprietary AI-related revenue, model leadership, and capital investment criteria. The concentrated portfolio is expected to hold up to 15 constituents, emphasizing firms that build and commercialize their own foundation models rather than simply using third-party AI. The fund may also hold short-term U.S. Treasuries for collateral and liquidity purposes.