ALPS | O’Shares Global Internet Giants ETF

ALPS | O’Shares Global Internet Giants ETF (OGIG) tracks the O’Shares Global Internet Giants Index. The index is a rules-based list of about 61 internet companies from around the world, screened for quality and growth. Two things set it apart: a screen that drops companies burning through cash, and a 0.48% expense ratio, below the 0.62% average of similar funds. The trade-off is large swings. The fund lost 50.62% in 2022.

• Over the year to Oct 27, 2026, OGIG returned -14.6%, 9th of 9 among similar funds.
• Its 5-year annualized return was -2.1%.
• Its worst full calendar year was 2022 (-50.6%); its best was 2023 (+50.3%).
• The deepest fall in its price history was 66% (Feb 12, 2021 to Nov 9, 2022), not yet recovered.

As of May 31, 2026, the fund held 54 securities; the ten largest made up 45.32% of assets.

By sector

• Over the three months to May 31, 2026, investors withdrew a net $9.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -5.23%, +6.41%, +11.84%.

The index provider, O’Shares Investment Advisers, starts with about 2,500 global stocks. These are the 1,000 largest US-listed companies plus the 500 largest each in Europe, the Pacific basin and emerging markets. It keeps companies in internet-related industries, such as application software, interactive media and online retail, that earn at least 50% of their revenue from internet technology or internet commerce. The quality test is "cash burn rate," meaning how fast a company spends shareholder capital each month. Companies burning cash quickly compared with the cash they hold are excluded. Stocks also get a growth rating based on revenue growth.

Weights start from company size (market value) and are then adjusted by the growth rating. Caps limit how much any one stock can hold. The index is rebalanced every quarter and its membership is reviewed twice a year. ALPS Advisors manages the fund and puts at least 80% of assets in index stocks. It may hold a representative sample instead of every stock, which can cause the fund to drift from the index. The fund is non-diversified, so single stocks can move its price more.

Some Chinese holdings, such as Tencent and PDD, may use a variable interest entity (VIE). In a VIE, investors own a contract-based claim on a Chinese business, not the business itself.

• OGIG charges 0.48% a year, versus an average of 0.62% for the similar funds below (3rd of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $49 in the first year and $603 over 10 years (assuming a 5% annual return).

It is a concentrated, non-diversified bet on internet growth stocks, with a beta of 1.34 and a 66% peak-to-trough drop on record, so it fits better as a small side position than as a base.

OGIG adds focused exposure to large internet companies, including some outside the US. Its price history starts June 2, 2020, so it doesn't show how the fund held up in the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 50.2%. It took about 26 months, until December 4, 2024, to get back to its January 2022 level. Its deepest drop was 66%, from February 12, 2021 to November 9, 2022, and it had not regained that earlier high as of October 27, 2026. Anyone who had to withdraw money in a year like 2022 would have locked in steep losses.

Income is minimal: a 0.08% yield, paid once a year, as of October 27, 2026. Under the SEC's standard example, the 0.48% expense ratio costs about $49 in the first year on $10,000. Past results don't predict future returns, and a retirement plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.