Global X MSCI Nigeria ETF

Price: $8.53
Change: $0.02 (0.0%)
Last Updated:


Brand Global X
Structure ETF
Expense Ratio 0.83%
ETF Home Page Home page
Inception Apr 03, 2013

Analyst Report

The Global X MSCI Nigeria ETF is part of the firm’s legacy line-up of country funds. While there are other country-specific ETFs out there, NGE is the only one to exclusively target Nigerian equities. The fund tracks an MSCI index of the largest and most-liquid Nigerian companies. The portfolio includes about 20 stocks of companies that are either based in Nigeria, listed on Nigerian markets or whose revenues are primarily from the country. NGE charges a relatively steep management fee for a passive fund, but investors for fast and easy exposure to Nigerian equities via a U.S.-listed fund shouldn’t be deterred by a few extra basis points in fees. As with many country-specific funds, especially in emerging and frontier markets, liquidity can be a challenge, and large block orders could trigger price distortions in the underlying market. Investors should expect wider spreads and poor tracking.

Investors looking for broad exposure to emerging markets can find cheaper one-stop-funds like the Vanguard FTSE Emerging Markets ETF (VWO), and those seeking frontier markets might consider the iShares MSCI Frontier 100 ETF (FM), which isn’t as cheap as VWO but comes with a lower management fee than NGE.

ETF Database Themes

Asset Class Equity
Asset Class Size Multi-Cap
Asset Class Style Blend
Region (General) Africa
Region (Specific) Nigeria

FactSet Classifications

Segment Equity: Nigeria - Total Market
Category Size and Style
Focus Total Market
Niche Broad-based
Strategy Vanilla
Weighting Scheme Market Cap

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $6.16
  • 52 Week Hi $10.68
  • AUM $30.1 M
  • Shares 3.0 M

Historical Trading Data

  • 1 Month Avg. Volume 15,887
  • 3 Month Avg. Volume 18,212

Alternative ETFs in the ETF Database Emerging Markets Equities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SPEM 0.07% $7.3 B 2 M 3.01%
Largest (AUM) VWO 0.08% $70.3 B 8 M 1.92%
Most Liquid (Volume) EEM 0.68% $18.9 B 28 M 0.83%
Top YTD Performer EDIV 0.49% $250.2 M 34,782 29.38%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

NGE ETF Database Category Average FactSet Segment Average
Number of Holdings 4 793 4
% of Assets in Top 10 100.00% 34.21% 100.00%
% of Assets in Top 15 100.00% 41.87% 100.00%
% of Assets in Top 50 100.00% 71.03% 100.00%

Size Comparison

NGE ETF Database Category Average FactSet Segment Average
Large (>12.9B) 0.00% 46.40% 0.00%
Mid (>2.7B) 1.76% 35.58% 1.76%
Small (>600M) 0.93% 10.94% 0.93%
Micro (<600M) 0.00% 1.82% 0.00%

NGE Valuation

This section compares the P/E ratio of this ETF to its peers.

P/E Ratio
ETF Database Category Average
P/E Ratio
FactSet Segment Average
P/E Ratio

NGE Dividend

This section compares the dividend yield of this ETF to its peers.

NGE ETF Database Category Average FactSet Segment Average
Dividend $ 0.89 $ 0.41 $ 0.89
Dividend Date 2023-06-29 N/A N/A
Annual Dividend Rate $ 1.49 $ 1.02 $ 1.49
Annual Dividend Yield 14.62% 3.54% 14.62%

NGE Price and Volume Charts

View charts featuring NGE price and volume data.

NGE Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 16.85 K 1 Month Net Flows: 3.55 K 3 Month Net Flows: 5.61 K 6 Month Net Flows: 14.71 K 1 Year Net Flows: 6.8 K 3 Year Net Flows: -5.53 K 5 Year Net Flows: 10.32 M 10 Year Net Flows: 64.62 M

NGE Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

5 Day Net AUM Change: 46.47 K
1 Month Net AUM Change: -1.06 M
3 Month Net AUM Change: -1.99 M
6 Month Net AUM Change: -10.81 M
1 Year Net AUM Change: -10.48 M
3 Year Net AUM Change: -3.89 M
5 Year Net AUM Change: -11.5 M
10 Year Net AUM Change: 25.12 M

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for NGE on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Emerging Markets Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity B- EEM
Expenses C SCHE

A+ Overall Rated ETF:

NGE Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

Expense Ratio
ETF Database Category Average
Expense Ratio
FactSet Segment Average
Expense Ratio

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

NGE does not have an ESG score. There are no ESG themes that map to this ETF.

NGE Performance

This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.

NGE ETF Database
Category Average
Factset Segment
1 Month Return -3.07% -1.76% -3.07%
3 Month Return -11.96% -1.56% -11.96%
YTD Return 26.09% 4.29% 26.09%
1 Year Return 27.26% 12.29% 27.26%
3 Year Return 7.87% 2.99% 7.87%
5 Year Return -6.29% 0.92% -6.29%

Geographic Exposure

The following charts reflect the geographic spread of NGE's underlying holdings.

Region Percentage
Other 97.3%
Europe 2.7%
Country Percentage
Other 88.14%
United States 9.16%
United Kingdom 1.77%
Nigeria 0.93%

Holdings Analysis

The following charts reflect the allocation of NGE's underlying holdings.

Sector Percentage
CASH 88.14%
Government 9.16%
Communications 1.77%
Energy Minerals 0.93%
Market Cap Percentage
Mid 1.76%
Small 0.93%
Large 0.0%
Micro 0.0%
Region Percentage
Asset Percentage
CASH 88.14%
Sovereign 9.16%
Share/Common/Ordinary 2.7%
Sector Percentage
CASH 88.14%
Government 9.16%
Communications 1.77%
Energy Minerals 0.93%

NGE Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 185.07%
20 Day Volatility 19.54%
50 Day Volatility 21.99%
200 Day Volatility 32.95%
Beta 0.49
Standard Deviation 1.24%
5 Day Volatility
6 of 80

20 Day Volatility
9 of 80

50 Day Volatility
8 of 80

200 Day Volatility
2 of 78

76 of 79

Standard Deviation
50 of 75


  • 20 Day MA $8.65
  • 60 Day MA $9.34
  • MACD 15 Period -0.14
  • MACD 100 Period -0.56
  • Williams % Range 10 Day 86.67
  • Williams % Range 20 Day 72.26
  • RSI 10 Day 38
  • RSI 20 Day 40
  • RSI 30 Day 42
  • Ultimate Oscillator 46

Bollinger Bands

  • Lower Bollinger (10 Day) $8.44
  • Upper Bollinger (10 Day) $9.01
  • Lower Bollinger (20 Day) $8.33
  • Upper Bollinger (20 Day) $8.94
  • Lower Bollinger (30 Day) $8.33
  • Upper Bollinger (30 Day) $9.11

Support & Resistance

  • Support Level 1 $8.45
  • Support Level 2 $8.36
  • Resistance Level 1 $8.63
  • Resistance Level 2 $8.72


  • Stochastic Oscillator %D (1 Day) 44.28
  • Stochastic Oscillator %D (5 Day) 27.41
  • Stochastic Oscillator %K (1 Day) 53.73
  • Stochastic Oscillator %K (5 Day) 37.55


  • Tracking Difference Median (%) -1.10
  • Tracking Difference Max Upside (%) -0.67
  • Tracking Difference Max Downside (%) -12.65
  • Median Premium Discount (%) -37.17
  • Maximum Premium Discount (%) 2.27
  • Average Spread (%) 9.49
  • Average Spread ($) 9.49

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.


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