The Global X S&P 500 U.S. Market Leaders Top 50 ETF (FLAG) invests in the top 50 U.S.-listed and domiciled companies within the S&P 500, excluding those within S&P’s Global Industry Classification Standard (GICS) Real Estate sector, that generate at least 50% of their revenues from in the U.S. Companies are ranked and selected based on their Market Leader Score, a quality screen developed by S&P which measures sustained free cash flow margin, sustained return on invested capital, and market share.