Global X launches Magnificent Six ETF without Tesla at 0.20%

Global X launched the Global X Magnificent Six ETF (SIX), an actively managed fund holding six of the Magnificent Seven companies and charging 0.20%, on the Cboe BZX Exchange. It began trading Nov. 4, according to ETF Trends.

SIX invests in equities and derivatives tied to the Akros Magnificent Six Index, whose members are Alphabet, Amazon, Apple, Meta Platforms, Microsoft and Nvidia. Tesla is not among them. Tesla was the only Magnificent Seven stock with a negative year-to-date return in 2026, down more than 13%, according to ETF Trends.

The concentration means roughly a quarter of the fund tracks one stock, which matters for any client whose outside holdings already lean on Apple. Apple was the fund's largest holding at launch, at 24% of the portfolio.

The 0.20% fee costs $20 a year per $10,000 invested. Because SIX holds six names rather than seven, a client who already owns Tesla directly does not double up on it through the ETF.

Pedro Palandrani, Global X's head of product research and development, said the six companies have been a major contributor to recent US earnings growth. "Over the 12 months ending September 30, 2026, they delivered almost two-thirds – roughly 66% – of the Bloomberg 500 Index's earnings per share growth," he said. He added that, based on current estimates, the six could invest about $700 billion of capital expenditure in 2026 and $1 trillion in 2027, with much of that spending expected to go toward AI.

Global X runs more than 115 ETFs and manages roughly $89 billion, according to ETF Trends.